Stocks on the move Real-time Equity news
U.S. stock market report
1634 ET 26May2009 US STOCKS
Market gains over 2 pct on confidence data, Apple
U.S. stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1414 ET 26May2009
Credit Suisse upgrades Occidental, Noble
Credit Suisse on Tuesday upgraded both Occidental Petroleum and Noble Energy Inc, saying it was more positive on oil-focused exploration and production companies compared to natural gas-focused ones.
'Large cap oil in particular looks like good value, having lagged gas peers significantly despite the strength in the oil curve and falling gas prices,' Credit Suisse wrote.
As part of its call, the firm also downgraded both EOG Resources and Ultra Petroleum.
'Gas equities look quite vulnerable to us currently, having already discounted a 2010 recovery,' it wrote.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1406 ET 26May2009
Markets rally after consumer confidence data
Major U.S. indexes rallied on Tuesday, lifted after the release of data that showed a sharp rise in consumer confidence. Tech stocks also rose after a broker upgrade of Apple Inc.
For details, see
The Dow Jones industrial average rose 2.6 percent to 8,490.78 while the S&P 500 gained 2.8 percent to 911.59 and the Nasdaq was up 3.5 percent to 1,751.19.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1357 ET 26May2009
StanCorp rises after FBR upgrade
Shares of StanCorp Financial Group soared on Tuesday, after the company was upgraded to outperform from market perform at Friedman Billings Ramsey, which said the insurer had enough of a capital cushion to absorb remaining credit losses.
StanCorp's very small amount of delinquencies and ability to work out mortgages with borrowers make it a relative outperformer when applying loss assumptions, the brokerage wrote to clients.
The stock gained 10.3 percent to $31.48.
As part of its call, FBR also upgraded Principal Financial to outperform, also citing a capital cushion.
Shares of Principal rose 1.2 percent to $20.83.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1344 ET 26May2009
Option players seem to be bullish on Seagate
Some investors appear to be bullish on Seagate Technology, expecting the stock to move above $9 before September expiration as put sellers dominate the action. Its shares rose 2.96 percent to $8.69 in afternoon trade. About 20,000 puts traded in Seagate vs 3,147 calls, double the normal combined daily turnover, according to Trade Alert. Most of the focus is in July and September at-the-money $8 and $9 puts and appears to be driven by premium sellers. Earlier in the session, the majority of that activity hit bid-side, said WhatsTrading.com option strategist Frederic Ruffy. ISEE data also indicate that sellers, not buyers, have dominated the action. The stock's option implied volatility is off a few points and fell to multi-month lows of 59 percent. Earnings are expected in mid-July, Ruffy said.
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
1634 ET 26May2009 US STOCKS
Market gains over 2 pct on confidence data, Apple
U.S. stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1414 ET 26May2009
Credit Suisse upgrades Occidental, Noble
Credit Suisse on Tuesday upgraded both Occidental Petroleum and Noble Energy Inc, saying it was more positive on oil-focused exploration and production companies compared to natural gas-focused ones.
'Large cap oil in particular looks like good value, having lagged gas peers significantly despite the strength in the oil curve and falling gas prices,' Credit Suisse wrote.
As part of its call, the firm also downgraded both EOG Resources and Ultra Petroleum.
'Gas equities look quite vulnerable to us currently, having already discounted a 2010 recovery,' it wrote.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1406 ET 26May2009
Markets rally after consumer confidence data
Major U.S. indexes rallied on Tuesday, lifted after the release of data that showed a sharp rise in consumer confidence. Tech stocks also rose after a broker upgrade of Apple Inc.
For details, see
The Dow Jones industrial average rose 2.6 percent to 8,490.78 while the S&P 500 gained 2.8 percent to 911.59 and the Nasdaq was up 3.5 percent to 1,751.19.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1357 ET 26May2009
StanCorp rises after FBR upgrade
Shares of StanCorp Financial Group soared on Tuesday, after the company was upgraded to outperform from market perform at Friedman Billings Ramsey, which said the insurer had enough of a capital cushion to absorb remaining credit losses.
StanCorp's very small amount of delinquencies and ability to work out mortgages with borrowers make it a relative outperformer when applying loss assumptions, the brokerage wrote to clients.
The stock gained 10.3 percent to $31.48.
As part of its call, FBR also upgraded Principal Financial to outperform, also citing a capital cushion.
Shares of Principal rose 1.2 percent to $20.83.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1344 ET 26May2009
Option players seem to be bullish on Seagate
Some investors appear to be bullish on Seagate Technology, expecting the stock to move above $9 before September expiration as put sellers dominate the action. Its shares rose 2.96 percent to $8.69 in afternoon trade. About 20,000 puts traded in Seagate vs 3,147 calls, double the normal combined daily turnover, according to Trade Alert. Most of the focus is in July and September at-the-money $8 and $9 puts and appears to be driven by premium sellers. Earlier in the session, the majority of that activity hit bid-side, said WhatsTrading.com option strategist Frederic Ruffy. ISEE data also indicate that sellers, not buyers, have dominated the action. The stock's option implied volatility is off a few points and fell to multi-month lows of 59 percent. Earnings are expected in mid-July, Ruffy said.
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.