Stocks on the move
Real-time equity news
U.S. stock market report
0927 ET 09Mar2010
Burger King sees weak Q3, blames weather
Burger King Holdings Inc expects lower third-quarter revenue and restaurant margins in the United States and Canada as bad weather in the Central and Eastern United States kept diners away.
The fast-food chain operator said on Tuesday that more than 75 percent of its U.S. and Canada segment's restaurants are located in those regions and said the segment's comparable-system sales fell 8.2 percent in January and February from a year earlier.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
0858 ET 09Mar2010
Chevron CEO: Poised for decade of upstream growth
Chevron Corp's chief executive said the company was poised for another decade of upstream growth, and that it sees substantial production increase mid-decade as portfolio shifts toward natural gas, Asia.
The CEO said 25 upstream projects costing at least $1 billion were due to start up or be approved in next 3 years.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
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 reported fourth-quarter net income rose to $67.4 million, or 56 cents a share, versus the average analyst expectation of 55 cents a share, according 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 reduced 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
0927 ET 09Mar2010
Burger King sees weak Q3, blames weather
Burger King Holdings Inc expects lower third-quarter revenue and restaurant margins in the United States and Canada as bad weather in the Central and Eastern United States kept diners away.
The fast-food chain operator said on Tuesday that more than 75 percent of its U.S. and Canada segment's restaurants are located in those regions and said the segment's comparable-system sales fell 8.2 percent in January and February from a year earlier.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
0858 ET 09Mar2010
Chevron CEO: Poised for decade of upstream growth
Chevron Corp's chief executive said the company was poised for another decade of upstream growth, and that it sees substantial production increase mid-decade as portfolio shifts toward natural gas, Asia.
The CEO said 25 upstream projects costing at least $1 billion were due to start up or be approved in next 3 years.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
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 reported fourth-quarter net income rose to $67.4 million, or 56 cents a share, versus the average analyst expectation of 55 cents a share, according 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 reduced 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.