Latest News In Stock Market Investment Market Pulse – June 19, 2009

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19 Jun 2009 at 7:23am

BOSTON (MarketWatch) — Nestle S.A. has recalled all varieties of its Toll House refrigerated cookie dough products over concerns that they might be tainted with the e. coli bacterium, the Food and Drug Administration said Friday. The FDA said it and the Centers for Disease Control have received 66 reports of illness about the products since March. No deaths have been reported, the FDA added.

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Irish premier expects vote on E.U. treaty in Oct.

19 Jun 2009 at 7:08am

LONDON (MarketWatch) — Irish Prime Minister Brian Cowen said that he expects Ireland to hold a second referendum on the European Union reform treaty in early October, Agence France-Presse reported on Friday. E.U. leaders meeting in Brussels offered new guarantees aimed at reassuring Irish voters about the nation’s sovereignty, including affirmation of Ireland’s tax system and neutral military status, the report said. Irish voters rejected the Lisbon Treaty in a referendum last year. The treaty requires ratification by all 27 E.U. members. “I am confident now we have a solid basis to go to the Irish people and ask them again to ratify the treaty so that Europe can move on,” Cowen said, according to the report.

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Tam leads slight advance in airline sector

19 Jun 2009 at 6:48am

SAN FRANCISCO (MarketWatch) — Airline stocks edged higher early Friday, with Brazil’s Tam SA leading the advance, up 2.4% at $9.98. The NYSE Arca Airline Index moved up fractionally to 17.27 points, with only three of the benchmark’s 13 components losing ground. Alaska Air Group Inc. led the declining trio, off 1.3% to $17.84. Crude oil gained 35 cents to $71.76 a barrel.

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Decision on Latvia aid after June 26: report

19 Jun 2009 at 6:47am

LONDON (MarketWatch) — The European Union and International Monetary Fund will decide on the further payment of an aid package for Latvia after June 26, Latvian Prime Minister Valdis Dombrovskis said Friday in Brussels, according to Dow Jones Newswires. E.U. leaders said earlier that they backed payment of the second part of the 7.5 billion euro aid package set up by the E.U. and the International Monetary Fund last year. A final decision must await a meeting of a high-level E.U. committee on June 26, Dombrovskis said, according to the report. The IMF will discuss the issue on June 22. The E.U. and the IMF have demanded budget cuts by Latvia, raising fears of a devaluation of the Latvian currency, which is pegged to the euro.

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Retail stocks rise on hope of economic recovery

19 Jun 2009 at 6:47am

NEW YORK (MarketWatch) — Retail stocks opened higher Friday, tracking the broader markets, with investors hoping that several recent positive economic indicators would signal a firm end to the recession. The S&P Retail Index rose 1% to 319.50. Target Corp. shares rose 1.2% after the company said late Thursday that a final election tally showed 74% of its shares outstanding were cast in favor of setting the size of its board at 12 and the company’s incumbent slate of board nominees.

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Drug stocks move higher with broader market

19 Jun 2009 at 6:42am

BOSTON (MarketWatch) — Drug stocks moved higher early Friday as the broader market continued to gain following the release of relatively positive economic data on Thursday. The Amex Pharmaceutical Index rose 1% to 265.17 and the Amex Biotechnology Index advanced 1.5% to 684.48 during a generally placid morning for the sectors on Wall Street. The Dow Jones Industrial Average climbed almost 50 points to 8,604.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Energy stocks find their footing and rise

19 Jun 2009 at 6:39am

NEW YORK (MarketWatch) — Energy stocks rose out of the gate, recovering their footing after a week of losses. The Nymex Arca Oil Index rose 0.9% to 940. The NYSE Arca Natural Gas Index rose 0.5% to 439. The Philadelphia Oil Service Index rose 1.4% to 169. Valero rose 1.3% to $17.65. Exxon Mobil rose 0.6% to $71.89. Chevron rose 9 cents to $68.52. Both oil majors are components of the Dow Jones Industrial Average , which rose 45 points, or 0.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tech stocks rise in early trading

19 Jun 2009 at 6:39am

SAN FRANCISCO (MarketWatch) — Tech stocks made gains Friday morning after the opening bell. The tech-heavy Nasdaq Composite Index rose 1.2% to 1,829, while the Morgan Stanley High-Tech Index was up 0.7% to 440. The Philadelphia Semiconductor Index was up 0.6% in early trades. Research In Motion was down 1% following its first-quarter earnings report late Thursday. The smartphone maker issued a forecast that was in-line with Wall Street’s estimates.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stocks begin ahead on renewed optimism

19 Jun 2009 at 6:40am

NEW YORK (MarketWatch) — U.S. stocks started higher on Friday, adding to the prior session’s gains, as investors shed recent worries about the economy in the wake of recent data. The Dow Jones Industrial Average gained 54.95 points, or 0.6%, to 8,610.5. The S&P 500 Index added 7.19 points, or 0.8%, to 925.56, while the Nasdaq Composite rose 22 points, or 1.2%, to 1,829.7.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Financial sector still positive, E-Trade falls

19 Jun 2009 at 6:34am

NEW YORK (MarketWatch) — Financial stocks in the S&P 500 edged-higher Friday morning, despite shares of E-Trade Financial Corp. falling 18% after it priced a major public offering. The benchmark financial sector ETF, the Financial Select Sector SPDR was up 0.8% to 11.99. Prior to the opening bell, E-Trade said it priced a public sale of 435 million shares of common stock at $1.10 a share, raising about $478.5 million in gross proceeds. The offering price represented a 23% discount to Thursday’s closing value of $1.43 a share. Prior to the public sale, E-Trade had about 572 million shares outstanding. The online broker’s shares were off nearly 12% to $1.26 a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wyndham sticks to second-quarter target

19 Jun 2009 at 6:12am

CHICAGO (MarketWatch) — In the midst of the global travel slowdown, Wyndham Worldwide said Friday that it is sticking to its second-quarter profit targets. Before the start of trading, the hotel operator said that it still expects to earn 36 cents to 41 cents a share for the period on an adjusted basis with earnings before interest, taxes, deprecation and amortization coming in at $760 million to $810 million for the full year. Shares of Wyndham ended Thursday’s session down 3% at $11.20.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Jack in the Box to sell 55 Quick Stuff locations

19 Jun 2009 at 6:10am

NEW YORK (MarketWatch) — Jack in the Box Inc. said Friday that it has reached an agreement to sell 55 of its 61 Quick Stuff convenience stores and gas stations. The restaurant chain said it expects the all-cash deal to close by the end of the fiscal year ending Sept. 27. It also said it is in talks with several other bidders on the remaining Quick Stuff sites and expects to sell them by the end of the fiscal year. Jack in the Box sees the dispositions resulting in a third-quarter charge of $10 million to $14 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Del Monte hikes quarterly dividend by 25%

19 Jun 2009 at 5:48am

NEW YORK (MarketWatch) — Del Monte Foods Co. said Friday that its board has approved a 25% increase in the quarterly dividend to 5 cents a share from its previous payout of 4 cents. The maker of branded food
and pet products said the dividend is payable Aug. 6 to shareholders of record July 23.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Treasurys lure investors in quiet trading

19 Jun 2009 at 5:34am

NEW YORK (MarketWatch) — Treasury prices rose Friday as a sell-off yesterday sent 10-year yields to the highest level in a week and near levels not seen since November, attracting investors. Ten year note yields , which move inversely to prices, declined 1 basis point to 3.82%. Yields on 2-year notes fell 2 basis points to 1.24%. Traders also noted potential volatility from equity options, index options, single stock futures and index futures expiring simultaneously. Gains may be limited before the government sells $104 billion in debt next week and the Federal Reserve’s monetary policy meeting.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


RF Micro Devices cut to neutral at UBS

19 Jun 2009 at 5:11am

LONDON (MarketWatch) — UBS downgraded RF Micro Devices Inc. to neutral from buy, citing valuation. “While RF Micro should benefit in the immediate term through ongoing restocking, we believe that visibility into a broad-based recovery in end-market demand remains limited,” UBS said. “We believe that the company will continue to grow revenue and expand margins, driven by restructuring moves and improved product portfolio, but beyond that we see no near term catalyst with the potential to meaningfully change fundamentals,” it added.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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June 19 2009 07:56 am | Stock Market News

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