Stocks on the move
Real-time Equity news
U.S. stock market report
1144 EST 15Dec2009
Deutsche Bank upgrades Wells Fargo to 'buy'
Deutsche Bank upgraded Wells Fargo & Co to 'buy' from 'hold' on Tuesday, citing an estimated gain of more than $3 billion from net mortgage-servicing rights hedging and the sale of securities in the fourth quarter.
The firm added that in the longer term, it believes the bank was 'positioned for market share gains given its acquisition of Wachovia and good organic growth at legacy Wells Fargo.'
For details, see
Shares of Wells rose 2.2 percent to $26.06.
Earlier Tuesday, Wells sold $10.65 billion in stock, raising funds to help repay a U.S. government bailout last year. The shares sold at $25 each, about 2 percent below Wells Fargo's closing share price of $25.49 on Monday.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1127 EST 15Dec2009-Annaly Capital falls after BofA
ML downgrade
Shares of Annaly Capital Management Inc fell on Tuesday after Bank of America-Merrill Lynch downgraded the stock to 'underperform' from 'neutral.'
The firm wrote that the real estate investment trust's dividend yield potential may not compensate for falling mortgage-backed security prices in 2010.
For details, see
The stock shed 2.8 percent to $18.27.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1120 EST 15Dec2009
Image Entertainment shrs drop on bankruptcy concerns
Shares of Image Entertainment Inc dropped on Tuesday after the company said it may be forced to file for Chapter 11 bankruptcy protection.
The company said it defaulted on payment for convertible notes and that it was exploring strategic alternatives.
For details, see
The stock dropped 49.3 percent to 26 cents.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1112 EST 15Dec2009
Barclays cuts Morgan Stanley Q4 profit estimate
Barclays Capital cut its fourth-quarter earnings outlook on Morgan Stanley on Tuesday, citing lower core trading and investment banking revenue.
Barclay slashed its profit estimate to 40 cents a share from 90 cents.
'We no longer expect Morgan Stanley to notably outperform Goldman Sachs sequentially as new hire integration and risk deployment may be longer tailed than previously expected,' Barclays said in a note to clients.
For details, see
Shares of Morgan Stanley slid 0.5 percent to $30.02.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1103 EST 15Dec2009
Delta shares slip after mixed outlook
Shares of Delta Air Lines Inc slipped on Tuesday after the company forecast a $1.1 billion net loss for 2009, but said fourth-quarter revenue trends suggested a better 2010.
The 2009 outlook came on losses from fuel hedges were incurred earlier in the year, the company said.
For details, see
The stock fell 0.8 percent to $11.00.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1050 EST 15Dec2009
Qwest shares advance after UBS comments
Shares of Qwest Communications International Inc rallied on Tuesday after UBS upgraded the stock to 'buy' from 'neutral,' saying it could be a takeover candidate.
The firm wrote that CenturyLink or Windstream Corp could be buyers if they were looking to gain scale.
For details, see
Qwest shares advanced 5.2 percent to $4.29, and Windstream fell 1.4 percent to $10.76.
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
1144 EST 15Dec2009
Deutsche Bank upgrades Wells Fargo to 'buy'
Deutsche Bank upgraded Wells Fargo & Co to 'buy' from 'hold' on Tuesday, citing an estimated gain of more than $3 billion from net mortgage-servicing rights hedging and the sale of securities in the fourth quarter.
The firm added that in the longer term, it believes the bank was 'positioned for market share gains given its acquisition of Wachovia and good organic growth at legacy Wells Fargo.'
For details, see
Shares of Wells rose 2.2 percent to $26.06.
Earlier Tuesday, Wells sold $10.65 billion in stock, raising funds to help repay a U.S. government bailout last year. The shares sold at $25 each, about 2 percent below Wells Fargo's closing share price of $25.49 on Monday.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1127 EST 15Dec2009-Annaly Capital falls after BofA
ML downgrade
Shares of Annaly Capital Management Inc fell on Tuesday after Bank of America-Merrill Lynch downgraded the stock to 'underperform' from 'neutral.'
The firm wrote that the real estate investment trust's dividend yield potential may not compensate for falling mortgage-backed security prices in 2010.
For details, see
The stock shed 2.8 percent to $18.27.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1120 EST 15Dec2009
Image Entertainment shrs drop on bankruptcy concerns
Shares of Image Entertainment Inc dropped on Tuesday after the company said it may be forced to file for Chapter 11 bankruptcy protection.
The company said it defaulted on payment for convertible notes and that it was exploring strategic alternatives.
For details, see
The stock dropped 49.3 percent to 26 cents.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1112 EST 15Dec2009
Barclays cuts Morgan Stanley Q4 profit estimate
Barclays Capital cut its fourth-quarter earnings outlook on Morgan Stanley on Tuesday, citing lower core trading and investment banking revenue.
Barclay slashed its profit estimate to 40 cents a share from 90 cents.
'We no longer expect Morgan Stanley to notably outperform Goldman Sachs sequentially as new hire integration and risk deployment may be longer tailed than previously expected,' Barclays said in a note to clients.
For details, see
Shares of Morgan Stanley slid 0.5 percent to $30.02.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1103 EST 15Dec2009
Delta shares slip after mixed outlook
Shares of Delta Air Lines Inc slipped on Tuesday after the company forecast a $1.1 billion net loss for 2009, but said fourth-quarter revenue trends suggested a better 2010.
The 2009 outlook came on losses from fuel hedges were incurred earlier in the year, the company said.
For details, see
The stock fell 0.8 percent to $11.00.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1050 EST 15Dec2009
Qwest shares advance after UBS comments
Shares of Qwest Communications International Inc rallied on Tuesday after UBS upgraded the stock to 'buy' from 'neutral,' saying it could be a takeover candidate.
The firm wrote that CenturyLink or Windstream Corp could be buyers if they were looking to gain scale.
For details, see
Qwest shares advanced 5.2 percent to $4.29, and Windstream fell 1.4 percent to $10.76.
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.
