STOCKS NEWS US-Ford U.S. sales drop 31.6 pct in April

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1347 ET 01May2009
Ford U.S. sales drop 31.6 pct in April

Shares of Ford Motor Co fell on Friday, dropping after the company reported that its U.S. April sales were down 31.6 percent from the prior year, hurt as the recession continued to impact auto sales.

Sales fell to 134,401 vehicles in April from 196,385 a year ago.

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Shares of Ford fell 3.3 percent to $5.78 while General Motors a Dow component, lost 5.7 percent to $1.81 and the Dow Jones U.S. Auto index was down 3 percent to 72.68.

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1205 ET 01May2009
James River, Patriot help lift coal stocks

Coal stocks rose on Friday after earnings by James River Coal Co and an analyst upgrade of Patriot Coal helped boost shares in the companies.

Shares of James River jumped more than 21 percent to $17.30 after the company's quarterly profit beat expectations, aided by a 73 percent jump in the price of Central Appalachian Coal. But it said it would adjust production volumes to keep pace with the softness in the coal market.

Patriot Coal shares climbed nearly 19 percent to $7.47 after the stock was upgraded to 'hold' from 'sell' at Citigroup, based on the view that major credit and liquidity concerns are mostly behind the company.

The third-largest eastern U.S. coal producer posted third-quarter earnings on Thursday.

The Dow Jones U.S. Coal index rose 10.5 percent.

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1157 ET 01May2009
Crude oil advances on U.S. data, OPEC compliance

June crude futures rallied on Friday, rising to a four-week high on improved U.S. consumer confidence data and further evidence of record levels of compliance by OPEC with its agreed output cuts.

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The contract rose 3.6 percent to $52.95 per barrel while the S&P Energy index was up 2.2 percent to 363.82.

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1140 ET 01May2009
Stress test results due on May 7: govt source

Results from stress tests into the health of the largest 19 U.S. banks are expected to be released late in the afternoon on Thursday, May 7, a government source said on Friday.

The results will include information at both the aggregate and specific bank holding company levels, as well as estimates of losses for certain categories of loans and resources to absorb those loans, the source said.

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1122 ET 01May2009-Mettler
Toledo soars after results

Shares of Mettler-Toledo International Inc jumped on Friday after the precision instrument supplier reported first-quarter earnings that topped analysts' expectations.

The company reported first-quarter adjusted earnings of 95 cents a share, above Wall Street estimates of 81 cents a share, according to Thomson Reuters estimates.

In addition, the company also forecast adjusted earnings between $4.85 to $5.35 per share, which is above analysts' estimates of $4.79 per share.

Robert W. Baird subsequently upgraded the stock to an 'outperform' from 'neutral,' citing the full year outlook.

The stock jumped more than 18 percent to $72.84. Rivals Beckman Coulter Inc added 0.9 percent to $43.02 while Thermo Fisher Scientific Inc gained 2.3 percent to $35.88.

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