Stocks on the move Real-time Equity news
U.S. stock market report
1155 ET 08Jan2009
Solar stocks reach session highs after Obama speech
Solar stocks hit a session high on Thursday after President-elect Barack Obama said his economic recovery plan included proposal to double production of atlernative energy during the next three years.
First Solar Inc rose as high as 6 percent to $157.24 after Obama's speech, while LDK Solar jumped 6.2 percent to $14.63. SunTech Power soared more than 9 percent at one point to $13.10.
The shares outpaced the broad S&P 500 index, which slipped 0.6 percent.
For details, see
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1140 ET 08Jan2009
Stocks turn lower after Obama speech on economy
Major U.S. markets turned lower on Thursday, after an address by President-elect Barack Obama on the economy. In the speech, Obama said his economic plan included tax cuts for middle-class families and extended jobless aid and healthcare coverage for the unemployed.
Also impacting the markets were weak December retail data and initial jobless claims data, both of which came out earlier Thursday.
The Dow Jones industrial average fell 0.9 percent to 8,687.27 while the S&P 500 slid 0.6 percent to 901.55 and the Nasdaq was flat at 1,598.27.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1130 ET 08Jan2009-Dec same
store sales fall an average of 0.9 pct
Same-store sales fell an average of 0.9 percent in December, according to Thomson Reuters data, which measures 35 companies over a variety of sectors. Excluding Wal-Mart, the biggest retailer, sales fell an average of 3.6 percent. The Reuters estimate was for a decline of 1 percent, or 4.8 percent when Wal-Mart was excluded.
In a month when many were worried about weak holiday spending, the top sector was unrelated to the season. The drug retail sector was the month's top performer, with growth of 3.3 percent. The only other sector to see growth was the discount sector, which was up 0.3 percent.
Among the other groups, apparel same-store sales fell 8.5 percent, on average, while teen and child apparel sales were down 9.6 percent.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1105 ET 08Jan2009
JPMorgan upgrades Lennar, downgrades Pulte Homes
JPMorgan Thursday upgraded Lennar Corp to overweight from neutral, saying the company wasn't likely to take large impairments in 2009 because of its above-average core profitability. It expects Lennar's 2009-end book value to contract 13 percent, compared with the 19 percent average contraction of the group.
The firm also downgraded Pulte Homes to neutral from overweight, citing the recent outperformance of the company's shares. It also expects Pulte's 2009-end book value to contract 29 percent.
Shares of Lennar rose 6.3 percent to $11.24 on Thursday while Pulte shares were up 0.7 percent to $12.13.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1050 ET 08Jan2009
Markets pare losses, Nasdaq turns positive
The Dow Jones industrial average and S&P 500 pared their losses on Thursday, while the Nasdaq turned positive, as investors shrugged off weak December retail sales. Boosting the markets was strength in Sears Holding, which gained after it said it had more cash now than in November, and initial jobless claims data, which unexpectedly fell from the prior week.
The Dow Jones industrial average fell 0.4 percent to 8,733.86 while the S&P 500 fell 0.1 percent to 906.03 and the Nasdaq was up 0.3 percent to 1,603.82.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1032 ET 08Jan2009
Crude oil down as data suggests weak demand
February crude futures tumbled on Thursday after data showing higher-than-expected crude stocks suggested U.S. demand was weakening. Oil was also impacted by mixed jobs data.
The contract fell 4 percent to $40.87.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1021 ET 08Jan2009
Shaw Group jumps after earnings
Shares of Shaw Group jumped nearly 14 percent to $25.18 on Thursday after the engineering and construction services company reported better-than-expected quarterly earnings as demand for new power plants remained strong despite the economic downturn.
The company reported adjusted earnings per share of 75 cents, which excludes Shaw's exposure to the Japanese yen at its Westinghouse segment, on revenue of $1.9 billion. Wall Street had forecast earnings per share of 65 cents, according to Reuters Estimates. (Reuters Messaging: Charles.mikolajczak.reuters.com@reuters.net) Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. 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.
U.S. stock market report
1155 ET 08Jan2009
Solar stocks reach session highs after Obama speech
Solar stocks hit a session high on Thursday after President-elect Barack Obama said his economic recovery plan included proposal to double production of atlernative energy during the next three years.
First Solar Inc rose as high as 6 percent to $157.24 after Obama's speech, while LDK Solar jumped 6.2 percent to $14.63. SunTech Power soared more than 9 percent at one point to $13.10.
The shares outpaced the broad S&P 500 index, which slipped 0.6 percent.
For details, see
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1140 ET 08Jan2009
Stocks turn lower after Obama speech on economy
Major U.S. markets turned lower on Thursday, after an address by President-elect Barack Obama on the economy. In the speech, Obama said his economic plan included tax cuts for middle-class families and extended jobless aid and healthcare coverage for the unemployed.
Also impacting the markets were weak December retail data and initial jobless claims data, both of which came out earlier Thursday.
The Dow Jones industrial average fell 0.9 percent to 8,687.27 while the S&P 500 slid 0.6 percent to 901.55 and the Nasdaq was flat at 1,598.27.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1130 ET 08Jan2009-Dec same
store sales fall an average of 0.9 pct
Same-store sales fell an average of 0.9 percent in December, according to Thomson Reuters data, which measures 35 companies over a variety of sectors. Excluding Wal-Mart, the biggest retailer, sales fell an average of 3.6 percent. The Reuters estimate was for a decline of 1 percent, or 4.8 percent when Wal-Mart was excluded.
In a month when many were worried about weak holiday spending, the top sector was unrelated to the season. The drug retail sector was the month's top performer, with growth of 3.3 percent. The only other sector to see growth was the discount sector, which was up 0.3 percent.
Among the other groups, apparel same-store sales fell 8.5 percent, on average, while teen and child apparel sales were down 9.6 percent.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1105 ET 08Jan2009
JPMorgan upgrades Lennar, downgrades Pulte Homes
JPMorgan Thursday upgraded Lennar Corp to overweight from neutral, saying the company wasn't likely to take large impairments in 2009 because of its above-average core profitability. It expects Lennar's 2009-end book value to contract 13 percent, compared with the 19 percent average contraction of the group.
The firm also downgraded Pulte Homes to neutral from overweight, citing the recent outperformance of the company's shares. It also expects Pulte's 2009-end book value to contract 29 percent.
Shares of Lennar rose 6.3 percent to $11.24 on Thursday while Pulte shares were up 0.7 percent to $12.13.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1050 ET 08Jan2009
Markets pare losses, Nasdaq turns positive
The Dow Jones industrial average and S&P 500 pared their losses on Thursday, while the Nasdaq turned positive, as investors shrugged off weak December retail sales. Boosting the markets was strength in Sears Holding, which gained after it said it had more cash now than in November, and initial jobless claims data, which unexpectedly fell from the prior week.
The Dow Jones industrial average fell 0.4 percent to 8,733.86 while the S&P 500 fell 0.1 percent to 906.03 and the Nasdaq was up 0.3 percent to 1,603.82.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1032 ET 08Jan2009
Crude oil down as data suggests weak demand
February crude futures tumbled on Thursday after data showing higher-than-expected crude stocks suggested U.S. demand was weakening. Oil was also impacted by mixed jobs data.
The contract fell 4 percent to $40.87.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1021 ET 08Jan2009
Shaw Group jumps after earnings
Shares of Shaw Group jumped nearly 14 percent to $25.18 on Thursday after the engineering and construction services company reported better-than-expected quarterly earnings as demand for new power plants remained strong despite the economic downturn.
The company reported adjusted earnings per share of 75 cents, which excludes Shaw's exposure to the Japanese yen at its Westinghouse segment, on revenue of $1.9 billion. Wall Street had forecast earnings per share of 65 cents, according to Reuters Estimates. (Reuters Messaging: Charles.mikolajczak.reuters.com@reuters.net) Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. 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.
© 2009 AFX News
