Latest News In Stock Market Investment Research – Nov 13, 2009

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Crude oil dips after trade, import prices data

13 Nov 2009 at 6:43am

NEW YORK (MarketWatch) — Crude oil futures fell on Friday after the government data showed the U.S. trade deficit widened more than expected to $36.5 billion in September, while import prices rose 0.7% last month. Crude oil futures were down 22 cents, or 0.3%, at $76.72 a barrel in electronic trade on Globex. It earlier rose to $77.28 a barrel, receiving a boost as the dollar fell against other major currencies.

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Dollar falls more after trade, import price data

13 Nov 2009 at 6:41am

NEW YORK (MarketWatch) — The dollar extended losses early Friday versus major rivals after data showed the U.S. trade balance widened more than forecast to $36.5 billion in September and import prices rose 0.7% last month. “While trade is not a prime driver of currencies, the combination of rising imbalances and extremely low rates is typically a U.S. dollar negative,” said strategists at Barclays Capital. The dollar index , a measure of the U.S. unit against a trade-weighted basket of rival currencies, declined to 75.359 compared to 75.648 in late New York trading on Thursday. Still to come at 10 a.m. Eastern time is a report expected to show consumer sentiment improved in early November. The dollar had been under pressure before the data as traders booked profits on the greenback’s recent bounce.

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 maintain mild gains after data

13 Nov 2009 at 6:38am

NEW YORK (MarketWatch) — U.S. stock futures on Friday retained modest gains after early data that had the country’s trade deficit widening more than expected in September, and import prices up 0.7% in October. Futures for the Dow Jones Industrial Average were up 19 points at 10,208.00. Those for the S&P 500 added 3.2 points to 1,090.5, while Nasdaq 100 futures added 5.25 points to 1,779.00.

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 down after trade, import price data

13 Nov 2009 at 6:35am

NEW YORK (MarketWatch) — Treasury prices were mostly lower early Friday, pushing yields up, after data showed the U.S. trade deficit widened more than forecast to $36.5 billion in September and import prices rose 0.7% last month, suggesting third-quarter growth may not be as strong as the government initially estimated. Yields on 10-year notes , rose 1 basis point to 3.46%. Before the data, traders were focused on redistributing the week’s $81 billion in note and bond auctions, which tends to pressure yields higher. Still to come at 10 a.m. Eastern time is a report expected to show consumer sentiment improved in early November.

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. trade gap widens sharply in Sept.

13 Nov 2009 at 6:30am

WASHINGTON (MarketWatch) — The U.S. trade deficit widened by 18.2% in September to $36.5 billion, the Commerce Department said Friday. The trade deficit was above the consensus forecast of Wall Street economists of a deficit of $32.0 billion. This is the biggest percentage increase in the monthly trade gap since February 1999. The data suggests that third quarter growth will be revised down from its initial estimate of a 3.5% gain. Imports rose faster than exports in September. Trade activity has recovered to levels not seen since the financial crisis hit in the fall of 2008. The U.S. trade deficit with China widened to $22.1 billion, the largest since last October. The deficit for the year-to-date now totals $274.58 billion, down from $551.44 billion in the first nine months of 2008.

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U.S. Oct. import prices rise 0.7% on energy goods

13 Nov 2009 at 6:30am

WASHINGTON (MarketWatch) – Led by higher prices for energy goods, the prices of goods imported into the United States rose by 0.7% in October, the third increase in a row, the Labor Department estimated Friday. In the past year, import prices have fallen 5.7%, well off the record 19.1% decline in the 12 months ending in July. Economists surveyed by MarketWatch were expecting import prices to rise 0.8% in October after rising a revised 0.2% in September. Fuel prices rose 1.8% in October, reversing a 1.5% decline in September. Natural gas prices jumped 24.1%. Imported petroleum prices rose 0.9%. Prices of nonfuel imports rose 0.4%, the third increase in a row.

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.


J.C. Penney profit tumbles 78%

13 Nov 2009 at 6:04am

NEW YORK (MarketWatch) — J.C. Penney Co. said Friday that its third-quarter profit tumbled 78% to $27 million, or 11 cents a share, from $124 million, or 56 cents, a year earlier. Sales declined 3.2% to $4.18 billion. Excluding pension expense, the company said it would have earned 30 cents a share. J.C. Penney also raised its full-year outlook to profit of 93 cents to $1.08 a share for the year from a previous projection of profit of as much as 90 cents a share. For the fourth quarter, it forecast profit of 70 cents to 85 cents a share. The department-store operator was expected to earn 12 cents a share in the third quarter, 82 cents in the fourth quarter and $1.05 for the year, according to FactSet.

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.


Agilent Technologies earnings fall

13 Nov 2009 at 5:57am

NEW YORK (MarketWatch) — Agilent Technologies Inc. said Friday that fourth-quarter earnings were $25 million, or 7 cents a share, compared to $231 million, or 64 cents a share, in the same period a year ago. Adjusted earnings per share were 32 cents compared to 62 cents. Revenue was $1.17 billion compared to $1.44 billion. Analysts polled by FactSet Research estimated, on average, earnings per share of 23 cents and sales of $1.1 billion

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.


Mobile TeleSystems Q3 net income down 4.1%

13 Nov 2009 at 5:53am

FRANKFURT (MarketWatch) — Mobile TeleSystems OJSC , Russia’s largest mobile phone operator, said Friday its third-quarter net income fell 4.1% to $494.4 million from $515.6 million in the same period a year ago. Revenue dropped 19.4% to $2.27 billion. The company said it continues to see “sustained macroeconomic volatility” in its markets of operations that may impact its performance.

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.


Boeing finds new damage on its troubled Dreamliner

13 Nov 2009 at 5:43am

NEW YORK (MarketWatch) — The long-delayed Boeing Co. 787 Dreamliner hit another stumbling block when engineers discovered damage to one of the test plane’s wings, The Wall Street Journal reported Friday. Metal bolts used for earlier repairs inside the wings of one of six test planes was found to have caused damage to surrounding composite material, the newspaper reported. It wasn’t known whether the other five test aircraft showed similar damage. The repairs were related to damage caused by stress tests earlier this year. Boeing acknowledged the damage, but said further repairs weren’t necessary. Shares of Boeing fell a fraction premarket to $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.


Germany’s ThyssenKrupp swings to full-year loss

13 Nov 2009 at 5:29am

FRANKFURT (MarketWatch) — ThyssenKrupp AG , the German steel and industrial group, said Friday it swung to a full-year loss for fiscal year 2009 of 2.36 billion euros ($3.5 billion) compared with a profit of 3.13 billion euros in the same period a year ago. The loss mostly resulted from nonrecurring items, such as restructuring expenditure, impairment charges and project costs for the new steel production and processing facilities in Brazil and the U.S. Sales fell 24% to 40.6 billion euros in fiscal 2009 from 53.4 billion euros in the prior year. Commenting on the next fiscal year, ThyssenKrupp said the emerging economic recovery is fragile, but that it expects sales to stabilize. “Earnings are expected to improve significantly and return to profit, thanks in no small part to the cost-cutting programs we have introduced,” said Executive Board Chairman Ekkehard Schulz in a statement. Shares of ThyssenKrupp were up 1.2% in recent 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.


Abercrombie & Fitch earnings fall, beat view

13 Nov 2009 at 5:26am

NEW YORK (MarketWatch) — Abercrombie & Fitch Co. said Friday that third-quarter earnings were $39 million, or 44 cents a share, compared to $64 million, or 72 cents a share, in the same period a year ago. On an adjusted basis, Abercrombie & Fitch earned 30 cents a share. Sales fell to $765 million compared to $896 million. Analysts polled by FactSet Research estimated, on average, earnings per share of 20 cents and sales of $764 million. Same-store sales fell 22% in the quarter. (Corrects same-store sales number.)

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.


Feds unveiling plans for Guantanamo Bay detainees

13 Nov 2009 at 5:23am

NEW YORK (MarketWatch) — Khalid Shaikh Mohammed, the self-proclaimed Sept. 11 mastermind, and four other Guantanamo Bay detainees will be sent to New York to face trial in a civilian federal court, according to reports on Friday. U.S. Attorney General Eric Holder plans to announce the decision later in the morning, according to the Associated Press. The trial is part of an overall plan for the 215 detainees at Guantanamo Bay. Up to 40 of the detainees will be tried in either federal court or military commissions and 90 others have been cleared for repatriation or resettlement in a third country, according to an unnamed administration official cited in a report by The Washington Post. Up to 75 individuals remaining at Guantanamo could continue to be held under the laws of war.

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.


Rue21 prices initial public offering at $19/share

13 Nov 2009 at 5:10am

NEW YORK (MarketWatch) — Teen-apparel retailer Rue21 Inc. said Friday that it priced its initial public offering of nearly 6.77 million shares of common stock at $19 a share. Shares will begin trading Friday under the ticker symbol “rue.”

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.


Dell launches Mini 3 smart phone in China, Brazil

13 Nov 2009 at 5:09am

NEW YORK (MarketWatch) — Dell Inc. on Friday confirmed plans to launch a smart phone. The Round Rock, Texas computer giant said it will distribute its new Mini 3 smart phones through China Mobile, the largest telecommunications company in the world with more than 500 million customers, and Claro, which serves more than 42 million people in Brazil as part of the America Movil network.

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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November 13 2009 06:04 am | Stock Market News

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