STOCKS NEWS US-Mattel sees very strong Barbie sales

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0726 EST 12Jan2010
Mattel sees very strong Barbie sales

Mattel Inc, the top global toymaker, said it has seen very strong sales for its Fashionista Barbie doll, following a recent revamp of its
50-year
old mainstay product.

The U.S. company, which also makes Hot Wheels cars and Fisher-Price toys, has sold 'more than hundreds of thousands' of Fashionista Barbie, one of the hot toys during the holiday season, Stephanie Cota, senior vice president of Barbie marketing, told Reuters on Tuesday.

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Shares of Mattel closed Monday at $19.90.

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0722 EST 12Jan2010
Medicines cuts 10 pct of jobs, sees charge

Medicines Co said on Tuesday it cut 10 percent of its workforce, or 31 employees, and expects to take a charge in the first quarter.

The biotechnology company see a one-time charge of about $4 million in the first quarter of 2010 and savings of about $6.5 million to $7.5 million annually from the job cuts, starting in the quarter.

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Shares of the company closed Monday at $8.32.

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0718 EST 12Jan2010
Futures down after Alcoa results, Chevron

U.S. stock index futures dropped Tuesday after Alcoa posted worse-than-expected results and Chevron warned that its income would be 'sharply lower' in a disappointing to start to earnings season.

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Dow Jones industrial average futures fell 57 points, while S&P 500 futures slid 7.2 points, and Nasdaq 100 futures lost 14 points.

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0710 EST 12Jan2010
Chevron sees 'sharply lower' Q4 results

Chevron Corp warned Monday that fourth-quarter results would be 'sharply lower' than the previous quarter due to a further deterioration in refining margins.

'Refining indicator margins worldwide for the full fourth quarter declined to the lowest levels of the year,' said the No. 2 U.S. oil company, adding that exploration and production results would be in line with the quarter before.

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Shares of Chevron, a Dow component, fell 1.5 percent to $79.69 in premarket trading on modest volume.

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0705 EST 12Jan2010
Alcoa earnings miss expectations, stock down

Alcoa Inc reported a narrower quarterly loss late Monday, but the results fell short of expectations.

The company blamed higher power bills, a weak U.S. dollar and the costs of temporarily shutting down smelters in Italy, and said that while aluminum prices are climbing, demand from some customers, especially planemakers and the commercial construction sector, was not expected to improve soon.

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The stock, a Dow component, fell 6.5 percent to $16.31 in premarket trading.

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0702 EST 12Jan2010
Economic indicators for Jan 12

Economic indicators on tap for Tuesday includes November international trade data, January IBD economic optimism data, weekly ABC consumer confidence data, weekly Redbook data and weekly ICSC chain store data.

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0656 EST 12Jan2010
Earnings diary for Jan 12

Companies scheduled to report quarterly results on Tuesday include: Linear Technology Corp, Supervalu Inc and KB Home.

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