Stocks on the move Real-Time Equity news
U.S. stock market report
1735 ET 15Dec2008- Earnings diary for Dec 16 -----------------------------------------------------------------------------
Companies reporting earnings on Tuesday include Adobe Systems Best Buy Co Inc and Goldman Sachs Group Inc.
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1710 ET 15Dec2008-Concern over Madoff funds drags on stock market -----------------------------------------------------------------------------
U.S. stocks tumbled on Monday, roiled by worries about how big a bite the global financial crisis has taken from banks' profits and fallout from a massive hedge fund fraud scheme.
The financial sector fell on concern over exposure to funds managed by Bernard Madoff, an investment manager accused by U.S. authorities of masterminding a $50 billion fraud.
For details, see
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1540 ET 15Dec2008-US stocks to rebound, outpace global markets in '09-Merrill -----------------------------------------------------------------------------
Slowing global growth will be a boon to U.S. stocks in the long-term and in 2009 investors should reconsider these companies, especially in the consumer staples, health care and telecom sectors, said Brian G. Belski, U.S. sector strategist for Merrill Lynch.
'The S&P 500 is on pace to outperform global equities this year,' Belski wrote in a research note. 'The rest of the world is beginning to feel the brunt of the economic slowdown in the U.S. as traditional cycle lags start to take effect.'
The rising dollar and the fact that forecasts in some foreign markets- particularly emerging markets- have yet to reflect the slowdown is spurring investors to U.S. stocks, he wrote.
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1248 ET 15Dec2008-Rofin-Sinar falls after cutting outlook -----------------------------------------------------------------------------
Shares of Rofin-Sinar Technologies Inc fell more than 15 percent to $20.13 on Monday after the company lowered its Q1 sales view from $120 to $125 million to $100 to $105 million,
The company cited deliveries being pushed out by customers and difficulty estimating order entry going forward for the lower guidance.
Analysts on average were expecting sales of $120.1 million.
Reuters Messaging: charles.mikolajczak.reuters.com@reuters.net
1200 ET 15Dec2008-Housing cos dive a day before housing starts figures -----------------------------------------------------------------------------
Housing and construction companies fell on Monday a day before the U.S. Commerce Department is expected to report another monthly drop in housing starts.
U.S. home building projects are expected to fall to an annual pace of 740,000 units in November, down from 791,000 units in October, according to a median forecast of 80 economists polled by Reuters. Housing starts in October fell to a record low. For details, see
The Dow Jones U.S. Home Construction Index fell 6.3 percent, pulled down by D R Horton Inc, which fell 10 percent to $7, and Toll Brothers, which fell 4.9 percent to $19.94.
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2008. 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.
U.S. stock market report
1735 ET 15Dec2008- Earnings diary for Dec 16 -----------------------------------------------------------------------------
Companies reporting earnings on Tuesday include Adobe Systems Best Buy Co Inc and Goldman Sachs Group Inc.
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1710 ET 15Dec2008-Concern over Madoff funds drags on stock market -----------------------------------------------------------------------------
U.S. stocks tumbled on Monday, roiled by worries about how big a bite the global financial crisis has taken from banks' profits and fallout from a massive hedge fund fraud scheme.
The financial sector fell on concern over exposure to funds managed by Bernard Madoff, an investment manager accused by U.S. authorities of masterminding a $50 billion fraud.
For details, see
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1540 ET 15Dec2008-US stocks to rebound, outpace global markets in '09-Merrill -----------------------------------------------------------------------------
Slowing global growth will be a boon to U.S. stocks in the long-term and in 2009 investors should reconsider these companies, especially in the consumer staples, health care and telecom sectors, said Brian G. Belski, U.S. sector strategist for Merrill Lynch.
'The S&P 500 is on pace to outperform global equities this year,' Belski wrote in a research note. 'The rest of the world is beginning to feel the brunt of the economic slowdown in the U.S. as traditional cycle lags start to take effect.'
The rising dollar and the fact that forecasts in some foreign markets- particularly emerging markets- have yet to reflect the slowdown is spurring investors to U.S. stocks, he wrote.
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1248 ET 15Dec2008-Rofin-Sinar falls after cutting outlook -----------------------------------------------------------------------------
Shares of Rofin-Sinar Technologies Inc fell more than 15 percent to $20.13 on Monday after the company lowered its Q1 sales view from $120 to $125 million to $100 to $105 million,
The company cited deliveries being pushed out by customers and difficulty estimating order entry going forward for the lower guidance.
Analysts on average were expecting sales of $120.1 million.
Reuters Messaging: charles.mikolajczak.reuters.com@reuters.net
1200 ET 15Dec2008-Housing cos dive a day before housing starts figures -----------------------------------------------------------------------------
Housing and construction companies fell on Monday a day before the U.S. Commerce Department is expected to report another monthly drop in housing starts.
U.S. home building projects are expected to fall to an annual pace of 740,000 units in November, down from 791,000 units in October, according to a median forecast of 80 economists polled by Reuters. Housing starts in October fell to a record low. For details, see
The Dow Jones U.S. Home Construction Index fell 6.3 percent, pulled down by D R Horton Inc, which fell 10 percent to $7, and Toll Brothers, which fell 4.9 percent to $19.94.
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2008. 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.