Stocks on the move
Real-time equity news
U.S. stock market report
0745 EST 10March2010-Amazon, Priceline thrive after Nasdaq bubble
Reuters Insider
Ten years after the Nasdaq hits its peak, Amazon.com and Priceline.com have proven their worth over the long term, according to Reuters Insider.
To watch the show, click http://link.reuters.com/mux53j Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0735 EST 10March2010
Futures little changed after China data, deals
U.S. stock index futures barely budged on Wednesday after data showed Chinese exports and imports grew faster than expected and after a slew of new corporate deals.
For details, see
Dow Jones industrial average futures rose 13 points while S&P 500 futures were flat and Nasdaq 100 futures were up 3.75 points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0719 EST 10March2010
GDP to slow in Q1, Fed rates on hold to Q3: POLL
After a growth spurt at the end of 2009, the U.S. economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed.
The survey of more than 70 economists suggests U.S. gross domestic product will grow at a 2.6 percent annual rate between January and March, less than half the pace of the fourth quarter of 2009, when it expanded at a 5.9 percent rate.
For all of 2009, the world's biggest economy contracted by 2.4 percent, but the poll predicts it will grow by 2.9 percent in 2010 on an annual basis.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0704 EST 10March2010-Home loan demand nudges higher in latest week
MBA
U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
If demand for purchase loans, a tentative early indicator of home sales, continues to climb, it will bode well for the hard-hit U.S. housing market, which remains highly vulnerable to setbacks and heavily reliant on government intervention.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0659 EST 10March2010
Economists trim 2011 U.S. growth forecast
U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Economists surveyed earlier this month in the Blue Chip Economic Indicators newsletter said the economy is expected to grow by 3.0 percent in 2011, which is 0.1 percentage point lower than estimates made a month ago.
But economists raised their 2010 growth forecast for the third consecutive month to 3.1 percent, up 0.1 percentage point from February.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0656 EST 10March2010
Abbott to buy Facet for $27 per share
Facet Biotech Corp has agreed to be acquired by Abbott Laboratories for $27 a share, topping a failed hostile offer of $17.50 a share made last year by Biogen Idec Inc.
Abbott and Facet said on Tuesday that the cash deal will cost about $450 million, including a purchase price of about $722 million less Facet's cash and securities of around $272 million.
For details, see
Shares of Facet closed Tuesday at $16.21 while Abbott closed at $54.80.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0652 EST 10March2010
Earnings and indicator diary for March 11
The only S&P 500 company scheduled to report quarterly results on Wednesday is Brown-Forman Corp.
Economic indicators include wholesale inventory and sales data for January.
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
0745 EST 10March2010-Amazon, Priceline thrive after Nasdaq bubble
Reuters Insider
Ten years after the Nasdaq hits its peak, Amazon.com and Priceline.com have proven their worth over the long term, according to Reuters Insider.
To watch the show, click http://link.reuters.com/mux53j Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
0735 EST 10March2010
Futures little changed after China data, deals
U.S. stock index futures barely budged on Wednesday after data showed Chinese exports and imports grew faster than expected and after a slew of new corporate deals.
For details, see
Dow Jones industrial average futures rose 13 points while S&P 500 futures were flat and Nasdaq 100 futures were up 3.75 points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0719 EST 10March2010
GDP to slow in Q1, Fed rates on hold to Q3: POLL
After a growth spurt at the end of 2009, the U.S. economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed.
The survey of more than 70 economists suggests U.S. gross domestic product will grow at a 2.6 percent annual rate between January and March, less than half the pace of the fourth quarter of 2009, when it expanded at a 5.9 percent rate.
For all of 2009, the world's biggest economy contracted by 2.4 percent, but the poll predicts it will grow by 2.9 percent in 2010 on an annual basis.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0704 EST 10March2010-Home loan demand nudges higher in latest week
MBA
U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
If demand for purchase loans, a tentative early indicator of home sales, continues to climb, it will bode well for the hard-hit U.S. housing market, which remains highly vulnerable to setbacks and heavily reliant on government intervention.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0659 EST 10March2010
Economists trim 2011 U.S. growth forecast
U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Economists surveyed earlier this month in the Blue Chip Economic Indicators newsletter said the economy is expected to grow by 3.0 percent in 2011, which is 0.1 percentage point lower than estimates made a month ago.
But economists raised their 2010 growth forecast for the third consecutive month to 3.1 percent, up 0.1 percentage point from February.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0656 EST 10March2010
Abbott to buy Facet for $27 per share
Facet Biotech Corp has agreed to be acquired by Abbott Laboratories for $27 a share, topping a failed hostile offer of $17.50 a share made last year by Biogen Idec Inc.
Abbott and Facet said on Tuesday that the cash deal will cost about $450 million, including a purchase price of about $722 million less Facet's cash and securities of around $272 million.
For details, see
Shares of Facet closed Tuesday at $16.21 while Abbott closed at $54.80.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0652 EST 10March2010
Earnings and indicator diary for March 11
The only S&P 500 company scheduled to report quarterly results on Wednesday is Brown-Forman Corp.
Economic indicators include wholesale inventory and sales data for January.
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.