Stocks on the move
Real-time equity news
U.S. stock market report
1103 EST 3March2010
Crude inventories rise, distillates fall
U.S. crude oil inventories rose more than expected last week, a government report showed on Wednesday.
Distillate inventories fell in line with analysts' forecasts, while the rise in gasoline stockpiles was slightly higher than predictions, according to the weekly report from the U.S. Energy Information Administration.
For details, see
April crude futures gained 1.2 percent to $80.60 per barrel.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1058 EST 3March2010
Soros: Urgent need for consumer protection agency
A new consumer protection agency is urgently needed as the United States seeks better financial regulation, but putting it in the Federal Reserve is unacceptable, George Soros, chairman of Soros Fund Management, said on Wednesday.
'We need a consumer protection agency, and we need it very urgently, because there is political outcry about the injustice of the current situation,' Soros said at a Roosevelt Institute conference in New York.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1052 EST 3March2010
FBR upgrades Spirit AeroSystems to 'outperform'
FBR Capital Markets upgraded shares of aircraft parts supplier Spirit AeroSystems Holdings Inc to 'outperform,' citing improved industry fundamentals and reduced chances of aircraft production cuts.
'Given recent improvements in global traffic and capacity, combined with the significant amount of capital raised by the airlines in 2009, we think the probability of a production cut this year or early next year is low,' analyst Patrick McCarthy wrote in a note to clients.
For details, see
Shares of Spirit rose 1.3 percent to $20.25.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1035 EST 3March2010
Eastman Chemical plant closure to hurt Q1 profit
Eastman Chemical Co said on Wednesday a recent shutdown at a Texas plant will likely cut first-quarter earnings by at least 20 cents per share.
The Kingsport, Tennessee, company had previously announced a power outage at its Longview, Texas, plant.
Eastman expects the closure of two crackers, devices that break down petroleum into a simpler state, to lower first-quarter earnings by 20 cents to 25 cents per share.
For details, see
Shares of Eastman rose 2.2 percent to $61.85.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1030 EST 3March2010
Markets rise after ISM services data
U.S. stocks added to gains on Wednesday after data showed the U.S. services sector grew in February at its fastest pace in more than two years.
The Dow Jones industrial average rose 40.28 points, or 0.39 percent, to 10,446.26. The Standard & Poor's 500 Index added 4.84 points, or 0.43 percent, to 1,123.15. The Nasdaq Composite Index gained 7.21 points, or 0.32 percent, to 2,288.00.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1026 EST 3March2010
Microsoft COO says demand recovery still gradual
Microsoft Corp is seeing a lot of interest around Windows 7, launched late last year, but customers are still conservative and demand recovery will be gradual, its chief operating officer said.
'We have a lot of interest in the Windows 7 refresh,' Kevin Turner told an audience at the London School of Economics on Wednesday. 'There's lots of momentum around that.'
For details, see
Shares of Microsoft, a Dow component, rose 0.2 percent to $28.51.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. 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
1103 EST 3March2010
Crude inventories rise, distillates fall
U.S. crude oil inventories rose more than expected last week, a government report showed on Wednesday.
Distillate inventories fell in line with analysts' forecasts, while the rise in gasoline stockpiles was slightly higher than predictions, according to the weekly report from the U.S. Energy Information Administration.
For details, see
April crude futures gained 1.2 percent to $80.60 per barrel.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1058 EST 3March2010
Soros: Urgent need for consumer protection agency
A new consumer protection agency is urgently needed as the United States seeks better financial regulation, but putting it in the Federal Reserve is unacceptable, George Soros, chairman of Soros Fund Management, said on Wednesday.
'We need a consumer protection agency, and we need it very urgently, because there is political outcry about the injustice of the current situation,' Soros said at a Roosevelt Institute conference in New York.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1052 EST 3March2010
FBR upgrades Spirit AeroSystems to 'outperform'
FBR Capital Markets upgraded shares of aircraft parts supplier Spirit AeroSystems Holdings Inc to 'outperform,' citing improved industry fundamentals and reduced chances of aircraft production cuts.
'Given recent improvements in global traffic and capacity, combined with the significant amount of capital raised by the airlines in 2009, we think the probability of a production cut this year or early next year is low,' analyst Patrick McCarthy wrote in a note to clients.
For details, see
Shares of Spirit rose 1.3 percent to $20.25.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1035 EST 3March2010
Eastman Chemical plant closure to hurt Q1 profit
Eastman Chemical Co said on Wednesday a recent shutdown at a Texas plant will likely cut first-quarter earnings by at least 20 cents per share.
The Kingsport, Tennessee, company had previously announced a power outage at its Longview, Texas, plant.
Eastman expects the closure of two crackers, devices that break down petroleum into a simpler state, to lower first-quarter earnings by 20 cents to 25 cents per share.
For details, see
Shares of Eastman rose 2.2 percent to $61.85.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1030 EST 3March2010
Markets rise after ISM services data
U.S. stocks added to gains on Wednesday after data showed the U.S. services sector grew in February at its fastest pace in more than two years.
The Dow Jones industrial average rose 40.28 points, or 0.39 percent, to 10,446.26. The Standard & Poor's 500 Index added 4.84 points, or 0.43 percent, to 1,123.15. The Nasdaq Composite Index gained 7.21 points, or 0.32 percent, to 2,288.00.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1026 EST 3March2010
Microsoft COO says demand recovery still gradual
Microsoft Corp is seeing a lot of interest around Windows 7, launched late last year, but customers are still conservative and demand recovery will be gradual, its chief operating officer said.
'We have a lot of interest in the Windows 7 refresh,' Kevin Turner told an audience at the London School of Economics on Wednesday. 'There's lots of momentum around that.'
For details, see
Shares of Microsoft, a Dow component, rose 0.2 percent to $28.51.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. 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.