Stocks on the move
Real-time equity news
U.S. stock market report
0820 EST 9March2010
Dick's Sporting EPS beats estimate
Dick's Sporting Goods Inc posted fourth-quarter quarterly profit that topped Wall Street estimates on strong sales of cold weather gear and forecast a full-year profit that could meet or beat analysts' expectations.
The company's fourth-quarter net income rose to $67.4 million, or 56 cents a share versus the average analyst expectation of 55 cents a share, accoridng to Thomson Reuters I/B/E/S.
Dick's shares slipped 2.4 percent to $25 in premarket trade. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0806 EST 9March2010
JP Morgan cuts three solar companies
J.P. Morgan Securities cut its rating on three solar companies, including industry bellwether First Solar Inc, and said oversupply would likely become a major issue in the second half of the year.
The firm cut First Solar and Energy Conversion Inc to 'underweight' and lowered its rating on Evergreen Solar Inc to 'neutral.'
Energy Conversion shares fell 3.6 percent to $8.25, First Solar fell 3.8 percent to $104.49 and Evergreen shares slipped 2.3 percent to $1.25 in premarket trade. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0755 EST 9March2010
Matrixx: FDA declines to withdraw warning letter
Matrixx Initiatives Inc said U.S. health regulators declined to withdraw the warning letter on the company's nasal versions of the Zicam cold remedy.
Last June, the company voluntarily withdrew two of its existing Zicam products after the U.S. Food and Drug Administration issued a warning letter that the products could cause a loss of smell.
For details, see
Shares of Matrixx closed Monday at $4.87.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0753 EST 9March2010
Reeds in tentative deal to buy Jones Soda
Struggling soft drink maker Jones Soda Co signed a letter of intent to be acquired by Reeds Inc in a cash-and-stock deal worth about $9.7 million.
Jones shareholders would receive 4.5 million shares of Reed's common stock and 10 cents per Jones share in cash.
The offer from Reeds, which makes natural sodas and other non-alcoholic drinks, values Jones at about 37 cents a share, based on Reeds' Monday close of $1.58.
For details, see
Shares of Jones closed Monday at 84 cents, while Reeds closed at $1.58.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0741 EST 9March2010
UBS upgrades Yum Brands to 'buy'
UBS upgraded Yum Brands Inc to 'buy' from 'neutral' and boosted its price target on Yum, the parent of KFC, Taco Bell and Pizza Hut fast-food chains, to $44 from $38 per share, noting improving fundamental trends.
The firm cited the underperformance of the stock compared to its global peers, better momentum at Taco Bell U.S., improving trends at Pizza Hut U.S., stabilizing China fast-food sales and the refranchising of KFC potentially offsetting the impact of soft sales on profits.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0736 EST 9March2010
Small business spirits downcast in February
Optimism among small businesses slipped in February as entrepreneurs worried about repeatedly weak sales, the National Federation of Independent Business (NFIB) said in a survey released on Tuesday.
The NFIB said its monthly small business optimism index dropped 1.3 points to 88.0 in February from January, with the index below 90 for 17 straight months and below 90 in all but four months since January 2008.
For details, see
Reuters Messaging: ryan.vlastelica.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
0820 EST 9March2010
Dick's Sporting EPS beats estimate
Dick's Sporting Goods Inc posted fourth-quarter quarterly profit that topped Wall Street estimates on strong sales of cold weather gear and forecast a full-year profit that could meet or beat analysts' expectations.
The company's fourth-quarter net income rose to $67.4 million, or 56 cents a share versus the average analyst expectation of 55 cents a share, accoridng to Thomson Reuters I/B/E/S.
Dick's shares slipped 2.4 percent to $25 in premarket trade. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0806 EST 9March2010
JP Morgan cuts three solar companies
J.P. Morgan Securities cut its rating on three solar companies, including industry bellwether First Solar Inc, and said oversupply would likely become a major issue in the second half of the year.
The firm cut First Solar and Energy Conversion Inc to 'underweight' and lowered its rating on Evergreen Solar Inc to 'neutral.'
Energy Conversion shares fell 3.6 percent to $8.25, First Solar fell 3.8 percent to $104.49 and Evergreen shares slipped 2.3 percent to $1.25 in premarket trade. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0755 EST 9March2010
Matrixx: FDA declines to withdraw warning letter
Matrixx Initiatives Inc said U.S. health regulators declined to withdraw the warning letter on the company's nasal versions of the Zicam cold remedy.
Last June, the company voluntarily withdrew two of its existing Zicam products after the U.S. Food and Drug Administration issued a warning letter that the products could cause a loss of smell.
For details, see
Shares of Matrixx closed Monday at $4.87.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0753 EST 9March2010
Reeds in tentative deal to buy Jones Soda
Struggling soft drink maker Jones Soda Co signed a letter of intent to be acquired by Reeds Inc in a cash-and-stock deal worth about $9.7 million.
Jones shareholders would receive 4.5 million shares of Reed's common stock and 10 cents per Jones share in cash.
The offer from Reeds, which makes natural sodas and other non-alcoholic drinks, values Jones at about 37 cents a share, based on Reeds' Monday close of $1.58.
For details, see
Shares of Jones closed Monday at 84 cents, while Reeds closed at $1.58.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0741 EST 9March2010
UBS upgrades Yum Brands to 'buy'
UBS upgraded Yum Brands Inc to 'buy' from 'neutral' and boosted its price target on Yum, the parent of KFC, Taco Bell and Pizza Hut fast-food chains, to $44 from $38 per share, noting improving fundamental trends.
The firm cited the underperformance of the stock compared to its global peers, better momentum at Taco Bell U.S., improving trends at Pizza Hut U.S., stabilizing China fast-food sales and the refranchising of KFC potentially offsetting the impact of soft sales on profits.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0736 EST 9March2010
Small business spirits downcast in February
Optimism among small businesses slipped in February as entrepreneurs worried about repeatedly weak sales, the National Federation of Independent Business (NFIB) said in a survey released on Tuesday.
The NFIB said its monthly small business optimism index dropped 1.3 points to 88.0 in February from January, with the index below 90 for 17 straight months and below 90 in all but four months since January 2008.
For details, see
Reuters Messaging: ryan.vlastelica.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.