Stocks on the move Real-time Equity news
U.S. stock market report
1730 ET 09Jan2009
Wall St falls on job woes, Citi, Chevron, techs
U.S. stocks fell on Friday after government data showed the labor market deteriorated further in December, raising investor concerns about the outlook for profits, spending and a deepening recession.
Shares of Citigroup Inc fell 5.7 percent after the Wall Street Journal said the bank may sell its Smith Barney brokerage, with Morgan Stanley a possible suitor, prompting question about why it would want to sell one of its relatively healthier businesses.
For details, see
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1332 ET 09Jan2009
Rambus plunges after district court ruling
Shares of Rambus Inc plummeted on Friday after a U.S. District Court ruled that it may not enforce patents against Micron. Referring to Rambus destroying documents that would have been material to Micron, the court said Rambus impugned the 'very integrity of the litigation process.'
The stock tumbled 41 percent to $11.03, while Micron shares were down 3.5 percent to $3.29.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1321 ET 09Jan2009
Lennar pares losses after Minkow response
Shares of Lennar Corp pared losses on Friday after the company issued a response after a letter questioning a late 1990's transaction involving the company surfaced on the Internet.
The letter was from California pastor Barrow Minkow, who served time in jail for stock fraud, to the U.S. Securities and Exchange Commission, the FBI and the Internal Revenue Service and concerned a joint venture between Lennar and a private developer to build a high-end housing project and gold course in California.
The second-largest U.S. homebuilder said that Minkow had acted as an agent for a disgruntled litigant, Nicolas Marsch II, posted false and and inflammatory accusations against the company. Lennar said civil litigation by Marsch against the company was just dismissed by a California Superior Court judge and the company continues to investigate acts of wrongdoing by Marsch and Minkow.
Shares were down 13 percent to $9.94 after being down by over 20 percent earlier in the session.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1312 ET 09Jan2009
TARP to be used for auto dealers, real estate
U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, on Friday said there would be legislation to help auto dealers, municipalities and the commercial real estate group with the government's TARP program. The legislation would also add stricter conditions to the Treasury Department's $700 billion bailout program.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1209 ET 09Jan2009
Options fear gauge, S&P 500 both drop in odd move
The CBOE Volatility Index, the implied volatility measure of the S&P 500 index, fell as the S&P benchmark is also trading lower, another instance of the indexes departing from their typical inverse relationship, said Optionmonster analyst Chris McKhann in comments on the firm's Web site. The S&P
500 fell 1.28 percent to 898.11 and the VIX, Wall Street's so
called fear gauge, dropped 1.25 percent to 42.03 near midday. The VIX futures rose across the board. The January futures stood at 43.15, up 0.18 percent, while the February futures rose 0.72 percent at 43.44, according to Reuters data.
Reuters Messaging: doris.frankel.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.
U.S. stock market report
1730 ET 09Jan2009
Wall St falls on job woes, Citi, Chevron, techs
U.S. stocks fell on Friday after government data showed the labor market deteriorated further in December, raising investor concerns about the outlook for profits, spending and a deepening recession.
Shares of Citigroup Inc fell 5.7 percent after the Wall Street Journal said the bank may sell its Smith Barney brokerage, with Morgan Stanley a possible suitor, prompting question about why it would want to sell one of its relatively healthier businesses.
For details, see
Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1332 ET 09Jan2009
Rambus plunges after district court ruling
Shares of Rambus Inc plummeted on Friday after a U.S. District Court ruled that it may not enforce patents against Micron. Referring to Rambus destroying documents that would have been material to Micron, the court said Rambus impugned the 'very integrity of the litigation process.'
The stock tumbled 41 percent to $11.03, while Micron shares were down 3.5 percent to $3.29.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1321 ET 09Jan2009
Lennar pares losses after Minkow response
Shares of Lennar Corp pared losses on Friday after the company issued a response after a letter questioning a late 1990's transaction involving the company surfaced on the Internet.
The letter was from California pastor Barrow Minkow, who served time in jail for stock fraud, to the U.S. Securities and Exchange Commission, the FBI and the Internal Revenue Service and concerned a joint venture between Lennar and a private developer to build a high-end housing project and gold course in California.
The second-largest U.S. homebuilder said that Minkow had acted as an agent for a disgruntled litigant, Nicolas Marsch II, posted false and and inflammatory accusations against the company. Lennar said civil litigation by Marsch against the company was just dismissed by a California Superior Court judge and the company continues to investigate acts of wrongdoing by Marsch and Minkow.
Shares were down 13 percent to $9.94 after being down by over 20 percent earlier in the session.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1312 ET 09Jan2009
TARP to be used for auto dealers, real estate
U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, on Friday said there would be legislation to help auto dealers, municipalities and the commercial real estate group with the government's TARP program. The legislation would also add stricter conditions to the Treasury Department's $700 billion bailout program.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1209 ET 09Jan2009
Options fear gauge, S&P 500 both drop in odd move
The CBOE Volatility Index, the implied volatility measure of the S&P 500 index, fell as the S&P benchmark is also trading lower, another instance of the indexes departing from their typical inverse relationship, said Optionmonster analyst Chris McKhann in comments on the firm's Web site. The S&P
500 fell 1.28 percent to 898.11 and the VIX, Wall Street's so
called fear gauge, dropped 1.25 percent to 42.03 near midday. The VIX futures rose across the board. The January futures stood at 43.15, up 0.18 percent, while the February futures rose 0.72 percent at 43.44, according to Reuters data.
Reuters Messaging: doris.frankel.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.