Latest News In stock Market Investment Research – Feb 05, 2010

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Allegheny Energy net income climbs

5 Feb 2010 at 6:54am

NEW YORK (MarketWatch) — Allegheny Energy Inc. said Friday its fourth-quarter net income rose to $109.3 million, or 64 cents a share, from $16.2 million, or 10 cents a share, in the year-ago period. In 2008’s fourth quarter, Allegheny booked $116.3 million of unrealized pre-tax losses on economic hedges. The power firm’s fourth-quarter adjusted earnings rose to 66 cents a share from 51 cents a share. Revenue rose to $861 million from $708 million. Analysts expected earnings of 50 cents a share and revenue of $885 million, according to a survey by FactSet Research.

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.


Futures add to bets that Fed will hike rates

5 Feb 2010 at 6:46am

NEW YORK (MarketWatch) — Interest-rate futures traders added to bets that the Federal Reserve would increase its benchmark interest rate by September, after the Labor Department said Friday that the U.S. unemployment rate fell to 9.7% last month from 10% in December. The fed funds rate, the central bank’s overnight target interest rate for loans between banks, has remained at a range of zero to 0.25% for more than a year. Fed fund futures showed traders see an 80% chance that the central bank will raise interest rates to 0.5% by September, a little higher then before the report. Futures for December indicate a 75% expectation that rates will rise by 75 basis points, or 0.75%, by the end of the year, about the same as before the jobs data.

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.


Oil turns up, gold off lows after U.S. jobs report

5 Feb 2010 at 6:39am

NEW YORK (MarketWatch) — Crude oil futures turned higher and gold came off earlier lows Friday after the Labor Department said the U.S. economy lost another 20,000 jobs in January but the unemployment rate fell to 9.7%. Crude oil for March delivery was up 21 cents, or 0.3%, at $73.35 a barrel. Gold for April fell $1.20, or 0.3%, to $1,061.80 an ounce.

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.


Dollar cuts gains after payrolls unexpectedly fall

5 Feb 2010 at 6:38am

NEW YORK (MarketWatch) — The dollar pared gains versus major counterparts on Friday, though still traded near a seven-month high, after a report showed the U.S. economy shed 20,000 jobs in January, while economists expected the economy to add jobs last month. The dollar index [$dxy], which tracks the currency against a basket of rivals, rose to 80.084, compared to 79.882 in late New York trading on Thursday. The report also said the unemployment rate fell to 9.7%, while economists expected the rate to remain at 10%. The dollar extended a rally in European and Asian trading hours that started Thursday amid heightening fears that the U.S. economic recovery wouldn’t be so strong and as credit risks in some European countries jumped, increasing demand for the relative safe haven of the U.S. currency.

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. stock futures pare losses after jobs report

5 Feb 2010 at 6:37am

NEW YORK (MarketWatch) — U.S. stock futures pared losses early Friday as investors digested a better-than-expected report from the government, which said nonfarm payrolls declined 20,000 in January, while the unemployment rate dipped to 9.7%. Futures for the Dow Jones Industrial Average were down 20 points to 9,959. Those for the S&P 500 Index were off 2.9 points at 1,058.8. Nasdaq 100 futures added 3.75 points to 1,738.50

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 stay up after payrolls fall

5 Feb 2010 at 6:35am

NEW YORK (MarketWatch) — Treasury prices remained higher on Friday, pushing yields down, after a report showed the U.S. economy shed 20,000 jobs in January, while economists expected the economy to add jobs last month. Yields on 10-year notes fell 1 basis point to 3.61% after the report, which also said the unemployment rate fell to 9.7%, while economists expected the rate to remain at 10%. Treasurys had been up before the data, extending a rally that began on Thursday amid heightening fears that the U.S. economic recovery wouldn’t be so strong and as credit risks in some European countries jumped, increasing demand for the relative safe haven of U.S. Treasurys.

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. Jan jobless rate falls to 9.7%, low since Aug

5 Feb 2010 at 6:30am

WASHINGTON (MarketWatch) – The unemployment rate fell in January to 9.7% from 10% in December, the Labor Department said Friday. Nonfarm payrolls contracted by 20,000 in January. Economists surveyed by MarketWatch had expected a 25,000 gain and for the unemployment rate to remain steady at 10.0%. Under the revisions released today, job losses since the start of the recession in December 2007 totaled 8.4 million. This was in line with expectations.

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.


American Axle swings to fourth-quarter profit

5 Feb 2010 at 6:14am

BOSTON (MarketWatch) — American Axle & Manufacturing Holdings Inc. said Friday that it swung to a fourth-quarter profit of $48.6 million, or 80 cents a share, from a loss of $112.1 million, or $2.17 a share, in the year-ago period. The latest quarterly results include a tax benefit of 80 cents a share, partly offset by a charge of 14 cents a share. Analysts polled by FactSet Research were looking for a profit of 11 cents a share, on average. Sales declined to $464 million from $503 million. Shares of American Axle rose 2% in premarket trading.

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.


Airgas confirms Air Products bid

5 Feb 2010 at 5:49am

BOSTON (MarketWatch) — Airgas Inc. said Friday that it received an
unsolicited bid from Air Products & Chemicals Inc. , offering to buy the company for $60 a share. Airgas said its board will review the proposal and advised its shareholders to take no action at this time. Shares of Airgas were up about 42% in premarket trade Friday on news of the proposed deal.

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.


Teco Energy earnings more than double

5 Feb 2010 at 5:47am

NEW YORK (MarketWatch) — Teco Energy Inc. said Friday that it earned $53.5 million, or 25 cents a share, in the fourth quarter compared to $22 million, or 10 cents a share, in the same period a year ago. Revenue was $765 million compared to $770 million. For 2010, Teco expects earnings per share in the range of $1.20 to $1.35. Analysts polled by FactSet Research estimated, on average, earnings per share of 26 cents in the quarter. For 2010, FactSet’s average estimate was for earnings per share of $1.31.

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.


Tyson Foods posts fourth-quarter profit

5 Feb 2010 at 5:45am

BOSTON (MarketWatch) — Tyson Foods Inc. said Friday that it swung to a fourth-quarter profit of $160 million, or 42 cents a share, compared to a loss of $102 million, or 27 cents a share, in the year-ago period. On average, analysts polled by FactSet Research were looking for earnings of 17 cents a share. Sales rose to $6.64 billion from $6.52 billion. Shares of Tyson added nearly 2% in premarket trade.

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.


Akio Toyoda admits ‘regret’ over recalls

5 Feb 2010 at 5:43am

NEW YORK (MarketWatch) — Toyota Motor Corp. chief Akio Toyoda, grandson of the company’s founder, addressed the company’s vehicle recalls in a rare press conference on Friday, according to reports. “The fact that we have caused such concern is a cause of regret for us,” he said, according to a live blog of the event by The Wall Street Journal. The car giant vowed to cooperate with U.S. authorities over a multimillion car recall stemming from problems with accelerator pedals.

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.


Simon Property reports lower quarterly FFO

5 Feb 2010 at 5:40am

BOSTON (MarketWatch) — Simon Property Group Inc. Friday said funds from operations, a key profitability measure for real estate investment trusts, fell to $485.2 million, or $1.40 a share, in the fourth quarter, from $540.5 million, or $1.86 a share, in the year-ago period. The REIT said it booked impairment charges of $88.1 million, or 26 cents a share, during the latest quarter, which lowered FFO. For 2010, the company sees FFO in the range of $5.25 to $5.40 a share, after charges.

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.


Dollar Tree gets downgraded at J.P. Morgan

5 Feb 2010 at 5:35am

BOSTON (MarketWatch) — Analysts at J.P. Morgan cut their rating Friday on Dollar Tree Inc. to neutral from overweight and lowered their price target on its shares to $53 from $57, primarily citing a balanced risk-reward ratio. Over the past year, the discount retailer’s stock has risen more than 40%. “At this point, however, we believe the bullish thesis has played out, and while there might be a little bit left in the stock, we don’t want to get greedy,” the analysts wrote in a note to clients. Shares of Dollar Tree ended Thursday at $49.09.

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.


Apartment Investment posts loss

5 Feb 2010 at 5:27am

NEW YORK (MarketWatch) — Apartment Investment and Management Co. said Friday that it lost $6.7 million, or 6 cents a share, in the fourth-quarter compared to an 11 cents a share loss in the year-ago period. Adjusted funds from operations were 26 cents a share compared with a loss of 32 cents in the year-ago quarter. Revenue was $303 million compared to $304 million. For 2010 the company sees funds from operations of $1.25 to $1.35 and for the fourth quarter of 26 cents to 30 cents 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.


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February 05 2010 06:37 am | Stock Market News

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