STOCKS NEWS-Expedia shares drop after Q4 results

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0949 EST 11Feb2010
Expedia shares drop after Q4 results

Shares of Expedia Inc fell on Thursday after the company reported its fourth-quarter results.

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The stock sank 5.1 percent to $21.12 while peer company Priceline.com lost 0.7 percent to $205.01.

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0938 EST 11Feb2010
Markets slip at open on Greece details

U.S. stocks opened lower on Thursday as questions remained about the nature of a European deal to help Greece deal with its debt crisis.

The Dow Jones industrial average lost 31.81 points, or 0.32 percent, to 10,006.57. The Standard & Poor's 500 Index fell 4.33 points, or 0.41 percent, to 1,063.80. The Nasdaq Composite Index dropped 7.27 points, or 0.34 percent, to 2,140.60.

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0904 EST 11Feb2010
Qualcomm says court orders stay in Japan case

Qualcomm Inc said on Thursday that the Tokyo High court put on hold, potentially for years, a cease-and-desist order against the chip maker in a case fighting its license pacts with Japanese manufacturers.

The court stay was for enforcement of the Japan Fair Trade Commission's Sept. 30 order that Qualcomm should remove certain provisions from its license agreements.

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Shares of Qualcomm fell 1 cent to $37.42 in premarket trading.

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0852 EST 11Feb2010
Bernstein upgrades 3M to 'outperform,' shares rise

Sanford C. Bernstein upgraded diversified manufacturer 3M Co to 'outperform' from 'market-perform,' citing better margins and higher growth rate, and said this should be a good time to own multi-industrials.

The companies in the sector will benefit from early stages of recovery due to end market restocking, investments made in restructuring and R&D, opportunistic acquisitions and attractive valuations, analysts led by Steven Winoker wrote in a note to clients.

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The stock, a Dow component, rose 1.2 percent to $79.59 in premarket trading.

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0836 EST 11Feb2010
Jobless claims fall sharply in latest week

The number of U.S. workers filing new applications for jobless benefits tumbled last week, a government report showed on Thursday, reversing a recent spike that had raised concerns about renewed labor market weakness.

Initial claims for state unemployment benefits dropped by 43,000 to a seasonally adjusted 440,000 for the week ended Feb. 6, down from a revised 483,000 in the prior week, the Labor Department said.

Analysts polled by Reuters had expected 465,000 initial claims. The prior week was initially reported as 480,000, an unexpectedly high reading that was blamed in part on a backlog of claims that piled up over the holiday season.

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