Stocks on the move Real-time Equity news
U.S. stock market report
1724 ET 05May2009
US economic diary for May 6
The following are key economic events for Wednesday:
- ADP National Eployment report 8:15 a.m. EDT (1215 GMT)
- Action 10-year note
- Weekly Mortgage Market Index
- Challenger, Gray & Christmas Inc releases report on April job cuts 7:30 a.m. EDT (1130 GMT)
For details, see
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1721 ET 05May2009
US earnings diary for May 6
Wednesday's earnings diary includes reports from the following companies:
Anadarko Petroleum
Cisco Systems
Devon Energy Corp
Marsh & McLennan
News Corp
Prudential Financial
Symantec
THQ Inc
For more details, see
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1706 ET 05May2009-Wall St dips on profit
taking as bank tests loom
U.S. stocks fell on Tuesday as cautious investors fretted about impending bank stress test results and energy shares succumbed to the pressure of lower oil prices.
The drop halted a two-day run-up that had propelled the S&P 500 into positive territory for the year-to-date. The benchmark index had risen 34 percent after touching a 12-year lows in early March.
For more details, see
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1610 ET 05May2009
Option gauges suggest stocks may head south
Two option markets' gauges have approached high levels of optimism, which contrarians view as a sign that stocks may not be able to sustain recent gains. A little-known sentiment indicator has reached a noteworthy extreme, the 21-day dollar-weighted put-to-call ratio on the PowerShares Nasdaq 100 index, reflects that investors paid about 90 cents for a put option for every $1 in calls, said Jay Shartsis, director of option trading at R.F. Lafferty & Co. 'That's a high level of option trader optimism,' he said. Last October the gauge hit $2.35 in puts to $1 in calls, close to the 87 cents seen in May of 2008. 'The market went into the tank big time after that, so the current reading is a warning,' he said. He also noted the 21-day weighted put/call ratio on the S&P futures recently dropped to near $1.20 in puts for every $1 in calls, the most trader optimism in several years, a bearish omen for stocks. Last October, this measure hit $4 in puts for every $1 in calls. 'From a contrarian view those ratios would suggest that the market is increasingly vulnerable to a setback,' he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1356 ET 05May2009
WellCare, Health Net lift health insurers
Health insurer stocks rose on Tuesday, led by gains in WellCare Health Plans Inc and Health Net Inc.
Health Net posted first-quarter profit ahead of expectations, as it spent fewer premium dollars on medical costs.
The California-based company reported adjusted earnings per share of 41 cents, which were 6 cents ahead of the average estimate of analysts, according to Thomson Reuters.
WellCare shares jumped after the company said that it had agreed to pay $80 million to settle Florida healthcare fraud allegations after the government filed fraud conspiracy charges against the company. The agreement would allow the company to avoid a fraud conviction if it complied with the terms of the deal.
Health Net gained 12.5 percent to $16.29 while WellCare surged more than 17 percent to $18.33. The Morgan Stanley Healthcare Payor index rose 4.5 percent.
Reuters Messaging: Charles.mikolajczak.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.
1724 ET 05May2009
US economic diary for May 6
The following are key economic events for Wednesday:
- ADP National Eployment report 8:15 a.m. EDT (1215 GMT)
- Action 10-year note
- Weekly Mortgage Market Index
- Challenger, Gray & Christmas Inc releases report on April job cuts 7:30 a.m. EDT (1130 GMT)
For details, see
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1721 ET 05May2009
US earnings diary for May 6
Wednesday's earnings diary includes reports from the following companies:
Anadarko Petroleum
Cisco Systems
Devon Energy Corp
Marsh & McLennan
News Corp
Prudential Financial
Symantec
THQ Inc
For more details, see
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1706 ET 05May2009-Wall St dips on profit
taking as bank tests loom
U.S. stocks fell on Tuesday as cautious investors fretted about impending bank stress test results and energy shares succumbed to the pressure of lower oil prices.
The drop halted a two-day run-up that had propelled the S&P 500 into positive territory for the year-to-date. The benchmark index had risen 34 percent after touching a 12-year lows in early March.
For more details, see
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1610 ET 05May2009
Option gauges suggest stocks may head south
Two option markets' gauges have approached high levels of optimism, which contrarians view as a sign that stocks may not be able to sustain recent gains. A little-known sentiment indicator has reached a noteworthy extreme, the 21-day dollar-weighted put-to-call ratio on the PowerShares Nasdaq 100 index, reflects that investors paid about 90 cents for a put option for every $1 in calls, said Jay Shartsis, director of option trading at R.F. Lafferty & Co. 'That's a high level of option trader optimism,' he said. Last October the gauge hit $2.35 in puts to $1 in calls, close to the 87 cents seen in May of 2008. 'The market went into the tank big time after that, so the current reading is a warning,' he said. He also noted the 21-day weighted put/call ratio on the S&P futures recently dropped to near $1.20 in puts for every $1 in calls, the most trader optimism in several years, a bearish omen for stocks. Last October, this measure hit $4 in puts for every $1 in calls. 'From a contrarian view those ratios would suggest that the market is increasingly vulnerable to a setback,' he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1356 ET 05May2009
WellCare, Health Net lift health insurers
Health insurer stocks rose on Tuesday, led by gains in WellCare Health Plans Inc and Health Net Inc.
Health Net posted first-quarter profit ahead of expectations, as it spent fewer premium dollars on medical costs.
The California-based company reported adjusted earnings per share of 41 cents, which were 6 cents ahead of the average estimate of analysts, according to Thomson Reuters.
WellCare shares jumped after the company said that it had agreed to pay $80 million to settle Florida healthcare fraud allegations after the government filed fraud conspiracy charges against the company. The agreement would allow the company to avoid a fraud conviction if it complied with the terms of the deal.
Health Net gained 12.5 percent to $16.29 while WellCare surged more than 17 percent to $18.33. The Morgan Stanley Healthcare Payor index rose 4.5 percent.
Reuters Messaging: Charles.mikolajczak.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.