Latest News In Stock Market Investment Research – Jan 22, 2010

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Southwest Airlines gets upgraded at Raymond James

22 Jan 2010 at 9:08am

NEW YORK (MarketWatch) — Southwest Airlines Co. is benefiting from less industry capacity, improved route optimization and more passengers trying to avoid the baggage fees at other airlines, which should lead to revenue outperformance in the near term, said equity firm Raymond James on Friday. Raymond James raised its rating for the budget airline to outperform from market perform, and lifted its 2010 earnings estimated to 55 cents a share from 25 cents. The firm estimates Southwest’s capacity will decline 5% in the first quarter from a year ago, supporting continued unit-revenue outperformance, though unit costs will likely be pressured. Shares of Southwest added less than 1% at last check to $11.73.

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.


Vix surges 32% for week as fear returns

22 Jan 2010 at 8:58am

SAN FRANCISCO(MarketWatch) — The Chicago Board Options Exchange’s Volatility Index , often known as Wall Street’s fear gauge, jumped 6.2% Friday to 23.66, its third straight daily gain, and the longest string of increases since October. The index is on track for a 32% weekly rise, boosted by worries that Chinese authorities will start reining in the country’s economic growth, dampening the pace of global recovery. Also, fears over new bank restrictions proposed by the Obama Administration, and potential sovereign debt defaults in Europe, have unsettled investors. “Policy uncertainty undermines confidence in financial markets,” wrote Bank of America-Merrill Lynch credit strategist Jeffrey Rosenberg.

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.


Retail stocks rise, led by department stores

22 Jan 2010 at 7:45am

NEW YORK (MarketWatch) — Retail stocks rose Friday, with the department-store group leading the gainers. Macy’s Inc. shares rose 1.9% after Wall Street reacted positively to the company’s plan to introduce an outlet concept for its upscale Bloomingdale’s chain. Sears Holdings Corp. shares rose 1.9%. Nordstrom Inc. was up 1.3% while J.C. Penney Co. edged up 1%. Target Corp. shares rose 0.4% after analysts gave positive feedback to the No. 2 U.S. discounter’s moves to remodel its stores and expand its P-Fresh grocery section.

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 fall with broad market

22 Jan 2010 at 7:41am

NEW YORK (MarketWatch) — Energy stocks continued to fall with the broad market on Friday, as a profit update from oil service leader Schlumberger failed to inspire any gains. The NYSE Arca Oil Index fell 0.5% to 1,054, its lowest level since Dec. 18. The NYSE Arca Natural Gas Index fell 0.2% to 551. The Philadelphia Oil Service Index dipped 1% to 203. Schlumberger fell about 0.7% to $67.84.

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.


Stocks fall at the start, prolonging slide

22 Jan 2010 at 7:40am

NEW YORK (MarketWatch) — U.S. stocks opened lower on Friday, extending losses into a third day, with steel makers and other materials firms falling the most as investors worried about possible Chinese moves to cool its economy. The Dow Jones Industrial Average was off 20.48 points at 10,369.40. The S&P 500 Index fell 1.64 points to 1,114.84. The Nasdaq Composite declined 4.76 points to 2,260.94.

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 retreat led by Google, AMD

22 Jan 2010 at 7:37am

SAN FRANCISCO (MarketWatch) – Technology stocks retreated at Friday’s opening bell, led by Google Inc. and Advanced Micro Devices. The two tech giants reported quarterly results late Thursday. Google was down more than 2% in the opening minutes of the session, while AMD was off more than 8%. The Nasdaq Composite Index lost 8 points, or 0.3%, to 2,258. The Morgan Stanley High Tech 35 Index was down 0.5%, while the Philadelphia Semiconductor Index lost 1.7%.

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.


Airline stocks in the red with United, Delta

22 Jan 2010 at 7:36am

NEW YORK (MarketWatch) — Airline stocks were down Friday with the wider market. At last check, the NYSE Arca Airline Index fell about 1% to 34.40 points with all but two of its 13 components in the red. Shares of United parent UAL Corp. slipped 1% to $12.98, Delta Air Lines lost about 1.4% to $13.26 and US Airways fell less than 1% to $5.42. Trading up were shares of Southwest Airlines and JetBlue Airways . The Dow Jones Industrial Average fell about 45 points to 10,344.

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.


Lone Star Funds to acquire Lodgian

22 Jan 2010 at 7:25am

BOSTON (MarketWatch) — Hotel operator Lodgian Inc. said Friday that it will be acquired by an affiliate of investment firm Lone Star Funds in a deal valued at about $270 million, including assumed debt. Under the terms, Lone Star will pay $2.50 a share for Lodgian’s outstanding common stock in an all-cash transaction. The deal is expected to close in the second quarter. Shares of Lodgian jumped about 44% in premarket trade after closing Thursday at $1.78.

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.


Citigroup downgrades chip-equipment stocks

22 Jan 2010 at 7:21am

CHICAGO (MarketWatch) — Ciitgroup analyst Timothy Arcuri on Friday downgraded a slew of semiconductor-equipment stocks, saying that “chip inventory is building ahead of a potentially risky [second quarter] based on recent seasonal trends.” Arcuri also said capital expenditures in the first half of 2010 will be greater than expected. He expects as much as 30% correction within this group of stocks. Arcuri cut his ratings on KLA Tencor , ATMI , Brooks Automation , Entegris and Advanced Energy Industries to sell from hold. He also downgraded Novellus and Applied Materials to hold from buy.

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.


Pfizer: Sutent effective against pancreatic cancer

22 Jan 2010 at 7:15am

BOSTON (MarketWatch) — Pfizer Inc. said early Friday that a Phase III study has shown its oncology drug Sutent can help slow the growth of a certain type of cancerous tumors known as pancreatic neuroendocrine tumors. Pfizer has filed for regulatory approval for Sutent as a pancreatic cancer treatment in the U.S., Europe and Canada. Sutent is already approved for the treatment of kindney cancer and a gastrointestinal cancer known as GIST.

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.


Hershey says it won’t make an offer for Cadbury

22 Jan 2010 at 7:11am

NEW YORK (MarketWatch) — The Hershey Co. said Friday that it does not intend to make an offer for Cadbury. This helps clear the way for Kraft’s plans to take over Cadbury.

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.


Citi upgrades J.P. Morgan to buy after stock drop

22 Jan 2010 at 7:06am

BOSTON (MarketWatch) — Citigroup analyst Keith Horowitz on Friday upgraded J.P. Morgan Chase & Co. to buy from hold with a $48 target price on the shares, saying the stock offers an attractive risk/reward profile and an “excellent entry point” after underperforming the overall bank sector for the year-to-date period. J.P. Morgan shares fell 6.6% Thursday after the Obama administration proposed limiting proprietary trading at banks, “which we believe would have a limited 2% impact on normalized earnings-per-share … assuming forced divestiture of private equity,” Citi said in a note to clients. “The other risk is [the] impact of ’size limits,’ but we assign a very low probability that J.P. Morgan will be forced to downsize its balance sheet given [the] impact on credit availability.” J.P. Morgan shares were up slightly in premarket trading Friday.

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.


German industrial orders up 2.8% in November

22 Jan 2010 at 6:59am

FRANKFURT (MarketWatch) — Germany’s economic ministry revised higher on Friday its estimate for November manufacturing orders. New industrial orders, adjusted for seasonal effects, rose 2.8% in November from the previous month, the Federal Ministry of Economics and Technology in Berlin reported on its Web site. Its previous estimate was for a 0.2% increase. The ministry said orders from abroad rose 3.6% in November compared to a previously reported 1% decline. The producers of capital goods recorded an overall increase in orders of 4.7% compared to a previously reported 0.1% drop.

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.


Exelon Corp. net income falls 18%

22 Jan 2010 at 6:46am

NEW YORK (MarketWatch) – Exelon Corp. said Friday its fourth-quarter net income fell 18% to $581 million, or 88 cents a share, from $707 million, or $1.07 a share in the year-ago period. Adjusted net income fell to 92 cents a share from $1.07 a share. Revenue fell to $4.12 billion from $4.49 billion. Operating expenses fell to $3.04 billion from $3.16 billion. Wall Street analysts expected earnings of 85 cents a share, according to a survey by FactSet Research. The Chicago-based power generator said it continues to expect 2010 operating earnings of $3.60 to $4 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.


Spectra Energy sets 2010 ongoing earnings target

22 Jan 2010 at 6:44am

BOSTON (MarketWatch) — Spectra Energy Corp. said Friday that it is targeting 2010 ongoing earnings of $1.42 a share and expects an 8% to 10% compound annual earnings-per-share growth rate for 2010 to 2012. The natural gas infrastructure firm also said it aims to maintain an annual dividend of at least $1 a share. On average, analysts polled by FactSet Research expected Spectra to earn $1.50 a share in the year ending December 2010.

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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January 22 2010 10:19 am | Stock Market News

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