Stocks on the move
Real-time Equity news
U.S. stock market report
0914 ET 17Aug2009
Bove raises price target on U.S. Bancorp
Rochdale Securities analyst Richard Bove raised his price target on U.S. Bancorp and said the bank is on an 'ambitious expansion program' while most of its peers have been weakened by the recession.
The target was lifted to $25 from $19.
Despite that, Bove said the company's margins could suffer when interest rates increase as its loan-to-deposit ratio is one of the highest in the industry for large banks.
For details, see
Shares of U.S. Bancorp fell 3 percent to $21.82 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0910 ET 17Aug2009
BofA credit card defaults up in July
Shares of Bank of America Corp fell premarket after the bank said credit card defaults inched up in July, as more Americans lost jobs and many continued to struggle to pay their debts.
The credit card charge-off rate -- loans the company does not expect to be repaid -- rose to 13.82 percent in July from 13.81 percent in June, according to a regulatory filing.
For details, see
The stock slid 4.1 percent to $16.67 before the bell.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0905 ET 17Aug2009
BioSante up after H1N1 vaccine efficacy raised
Shares of BioSante Pharmaceuticals Inc soared premarket after the company said its adjuvant, BioVant, increased the efficacy of vaccines for multiple flu strains, including a potential new vaccine against H1N1 virus.
For details, see
The stock surged 22 percent to $2.39.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0853 ET 17Aug2009
Rosetta Stone sinks after cutting Q3 outlook
Shares of Rosetta Stone Inc sank in premarket trading on Monday, after it cut its third-quarter earnings outlook and scrapped a proposed public offering barely a week after announcing it.
For details, see
The stock tumbled 16 percent to $23.79.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0846 ET 17Aug2009
NY Fed index shows growth in August
A gauge of manufacturing in New York state moved into positive territory in August, suggesting growth in the sector for the first time since April 2008, the New York Federal Reserve said on Monday.
The New York Fed's 'Empire State' general business conditions index rose to plus 12.08 from minus 0.55 in July. Economists polled by Reuters had expected a figure of 3.00.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0843 ET 17Aug2009
BJ's Wholesale falls after downgrade
Shares of BJ's Wholesale Club Inc fell 3.5 percent to $29.95 in premarket trading on Monday, after J.P. Morgan Securities downgraded the company to 'neutral' from 'overweight.'
The firm wrote that food disinflation and deflation in many categories would hurt same-store sales.
For details, see
Shares fell 3.5 percent to $29.95 in premarket trading.
Reuters Messaging: ryan.vlastelica.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.
Real-time Equity news
U.S. stock market report
0914 ET 17Aug2009
Bove raises price target on U.S. Bancorp
Rochdale Securities analyst Richard Bove raised his price target on U.S. Bancorp and said the bank is on an 'ambitious expansion program' while most of its peers have been weakened by the recession.
The target was lifted to $25 from $19.
Despite that, Bove said the company's margins could suffer when interest rates increase as its loan-to-deposit ratio is one of the highest in the industry for large banks.
For details, see
Shares of U.S. Bancorp fell 3 percent to $21.82 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0910 ET 17Aug2009
BofA credit card defaults up in July
Shares of Bank of America Corp fell premarket after the bank said credit card defaults inched up in July, as more Americans lost jobs and many continued to struggle to pay their debts.
The credit card charge-off rate -- loans the company does not expect to be repaid -- rose to 13.82 percent in July from 13.81 percent in June, according to a regulatory filing.
For details, see
The stock slid 4.1 percent to $16.67 before the bell.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0905 ET 17Aug2009
BioSante up after H1N1 vaccine efficacy raised
Shares of BioSante Pharmaceuticals Inc soared premarket after the company said its adjuvant, BioVant, increased the efficacy of vaccines for multiple flu strains, including a potential new vaccine against H1N1 virus.
For details, see
The stock surged 22 percent to $2.39.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0853 ET 17Aug2009
Rosetta Stone sinks after cutting Q3 outlook
Shares of Rosetta Stone Inc sank in premarket trading on Monday, after it cut its third-quarter earnings outlook and scrapped a proposed public offering barely a week after announcing it.
For details, see
The stock tumbled 16 percent to $23.79.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0846 ET 17Aug2009
NY Fed index shows growth in August
A gauge of manufacturing in New York state moved into positive territory in August, suggesting growth in the sector for the first time since April 2008, the New York Federal Reserve said on Monday.
The New York Fed's 'Empire State' general business conditions index rose to plus 12.08 from minus 0.55 in July. Economists polled by Reuters had expected a figure of 3.00.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0843 ET 17Aug2009
BJ's Wholesale falls after downgrade
Shares of BJ's Wholesale Club Inc fell 3.5 percent to $29.95 in premarket trading on Monday, after J.P. Morgan Securities downgraded the company to 'neutral' from 'overweight.'
The firm wrote that food disinflation and deflation in many categories would hurt same-store sales.
For details, see
Shares fell 3.5 percent to $29.95 in premarket trading.
Reuters Messaging: ryan.vlastelica.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.