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U.S. stock market report
1159 ET 04Mar2010 RTRS
Tivo shares rally on court ruling, Dish Network falls
Shares of TiVo Inc surged 54 percent to $15.76 on Thursday after a the U.S. appeals court upheld a contempt finding against EchoStar in a patent infringement case.
Shares of Dish Network fell 2.2 percent to $21.23.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1155 EST 4March2010
City National exits TARP program
City National Corp said it repurchased $200 million of the preferred shares it sold to the U.S. Treasury under the Troubled Asset Relief Program (TARP), completely exiting the federal bailout, and joining a wave of U.S. banks that avoid curbs on executive compensation.
The Los Angeles bank, which paid back half of the total funds it received under TARP in December, said it will take a one-time related charge of 7 cents per share.
For details, see
Shares of City National were down 0.1 percent to $49.82.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1136 ET 04Mar2010-US STOCKS
Wall St flat as energy losses offset retail sales
U.S. stocks pared early gains on Thursday, hurt as weaker-than-expected energy demand hit the oil and gas sector, offsetting solid February retail sales figures.
Natural gas futures slid after a government report showed an unexpectedly light inventory draw on supplies. The NYSE Arca Natural Gas index slipped 0.9 percent.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1117 ET 04Mar2010-GLOBAL MARKETS
U.S. data boosts shares, ECB rates steady
U.S. stocks rose on Thursday on a drop in jobless claims from Washington and solid U.S. retail sales, while the European Central Bank's decision to leave interest rates unchanged tugged the euro lower.
In addition, the ECB unveiled new measures for removing the extraordinary stimulus it provided to the economy, undermining the boost the euro received from the market's strong demand for Greece's 10-year bond sale, seen as a crucial step in addressing its debt problems.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1042 ET 04Mar2010 JPMorgan suggests buy Marvell call spread
Marvell Technology Group is due to report quarterly earnings after the bell. JPMorgan derivatives strategists Amyn Bharwani and Marko Kolanovic recommend the MRVL March call spread ahead of earnings in line with its analyst's positive outlook for the stock. Investors who agree with that view
can take advantage of the discrepancy between the current implied volatility range and average realized range for the stock by buying the March $20-$22 call spread, the note said. Using a reference price of $19.96, the trade can be entered into for a net debit of 65 cents. The break-even point is $20.65. Marvell options imply a 4.8 percent move for the stock over earnings vs. an average 9 percent swing over the past eight quarters. This implies that based on the options market expectation, the stock could be at $20.92 on the upside but at $21.76 or higher based on past realized moves.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time equity news
U.S. stock market report
1159 ET 04Mar2010 RTRS
Tivo shares rally on court ruling, Dish Network falls
Shares of TiVo Inc surged 54 percent to $15.76 on Thursday after a the U.S. appeals court upheld a contempt finding against EchoStar in a patent infringement case.
Shares of Dish Network fell 2.2 percent to $21.23.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1155 EST 4March2010
City National exits TARP program
City National Corp said it repurchased $200 million of the preferred shares it sold to the U.S. Treasury under the Troubled Asset Relief Program (TARP), completely exiting the federal bailout, and joining a wave of U.S. banks that avoid curbs on executive compensation.
The Los Angeles bank, which paid back half of the total funds it received under TARP in December, said it will take a one-time related charge of 7 cents per share.
For details, see
Shares of City National were down 0.1 percent to $49.82.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1136 ET 04Mar2010-US STOCKS
Wall St flat as energy losses offset retail sales
U.S. stocks pared early gains on Thursday, hurt as weaker-than-expected energy demand hit the oil and gas sector, offsetting solid February retail sales figures.
Natural gas futures slid after a government report showed an unexpectedly light inventory draw on supplies. The NYSE Arca Natural Gas index slipped 0.9 percent.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1117 ET 04Mar2010-GLOBAL MARKETS
U.S. data boosts shares, ECB rates steady
U.S. stocks rose on Thursday on a drop in jobless claims from Washington and solid U.S. retail sales, while the European Central Bank's decision to leave interest rates unchanged tugged the euro lower.
In addition, the ECB unveiled new measures for removing the extraordinary stimulus it provided to the economy, undermining the boost the euro received from the market's strong demand for Greece's 10-year bond sale, seen as a crucial step in addressing its debt problems.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1042 ET 04Mar2010 JPMorgan suggests buy Marvell call spread
Marvell Technology Group is due to report quarterly earnings after the bell. JPMorgan derivatives strategists Amyn Bharwani and Marko Kolanovic recommend the MRVL March call spread ahead of earnings in line with its analyst's positive outlook for the stock. Investors who agree with that view
can take advantage of the discrepancy between the current implied volatility range and average realized range for the stock by buying the March $20-$22 call spread, the note said. Using a reference price of $19.96, the trade can be entered into for a net debit of 65 cents. The break-even point is $20.65. Marvell options imply a 4.8 percent move for the stock over earnings vs. an average 9 percent swing over the past eight quarters. This implies that based on the options market expectation, the stock could be at $20.92 on the upside but at $21.76 or higher based on past realized moves.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.