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For U.S. stock market report double-click 1730 ET 23June2009 Option traders circle Expedia put options
Online travel agency Expedia Inc shares fell 2.65 percent to $15.06 for the day. But in the options market, investors appeared to anticipate more losses as about 25,000 puts and 2,862 calls traded, 28 times the norm, according to Trade Alert. 'Option bears were prodded into action by a widely read newsletter and took heed of the recommendation to buy the July $15 strike price where nearly 12,000 puts changed hands for 93 cents apiece,' said Andrew Wilkinson, market analyst at Interactive Brokers Group. He said it appeared that put-buying investors braced for continued downward movement in the stock over the next month. Profits begin to amass for the traders if shares sink 8 percent from a share reference price of $15.27 to the break even point on the transaction at $14.07, he said. Sentiment based on order flow was 63 percent bearish, Trade Alert data show.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1705 ET 23June2009
U.S. earnings diary for June 24
The day's earnings calendar includes quarterly results from Monsanto Co and Bed Bath & Beyond Inc.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1724 ET 23June2009
U.S. economic diary for June 24
The day's economic agenda includes the Commerce Department's May durable goods orders at 8:30 a.m. (1230 GMT) and new home sales for May at 10 a.m. (1400 GMT).
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1644 ET 23Jun2009-US STOCKS
S&P gains on bargain hunting, but Boeing hits Dow
The S&P 500 rose on Tuesday as investors hunted for bargains a day after a steep sell-off, but another delay for Boeing's 787 Dreamliner kept the Dow in the red.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1430 ET 23June2009
Barclays upgrades Estee Lauder to 'equal weight'
Shares of Estee Lauder rose on Tuesday, after the cosmetics company was upgraded to 'equal weight' from 'underweight' at Barclays Capital. The firm forecast consistent organic sales trends, margin expansion and a more efficient supply chain at the company over time.
'For the next several quarters, we think valuation will be driven not by the company's current financial performance, but rather by expectations for a gradual but meaningful operating improvement further out,' it wrote.
For details, see
The stock rose 3.1 percent to $31.55 while Avon Products Inc slid 1.3 percent to $25.15 and Chattem Inc was off 1.7 percent to $64.66.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1425 ET 23June2009
Lab Corp to buy Monogram for $106.7 million
Laboratory Corporation of America on Tuesday said it would buy Monogram Biosciences Inc for about $106.7 million, or $4.55 per share of Monogram.
The per-share offer price represents a premium of about 170 per cent over the company's Monday closing price.
For details, see
Shares of Laboratory fell 1.1 percent to $64.97 while Monograms shares soared 169 percent to $4.52.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by Kenneth Barry
1420 ET 23June2009
Justice Department not planning to drop UBS case
The U.S. Justice Department on Tuesday said it wasn't planning to drop its lawsuit seeking to force UBS AG to disclose thousands of the Swiss bank's U.S. customers with secret accounts. The comment followed a report in the New York Times that said the lawsuit might be dropped.
A department spokesman said there was 'no basis' for the Times report.
'While the department is always willing to consider settlement in any case, the suggestion that the department is planning to drop this suit is simply untrue. The department is continuing with the case against UBS and will file its brief asking the court to enforce the summons on June 30,' spokesman Charles Miller said.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1416 ET 23June2009
AT&T extends Alcatel deal, to sell Motorola phone
AT&T Inc on Tuesday said it extended a network equipment supply agreement with Alcatel-Lucent and that it would soon start selling a cell phone from Motorola Inc.
The communications giant will start selling Motorola's Karma phone on June 28 for $79.99. The device is based on a proprietary operating system from Motorola, which is struggling to regain share in the cellphone market after years of criticism of its phone line-up.
For details, see
Shares of AT&T, a Dow component, rose nearly 2 percent to $24.62 on Tuesday while U.S.-listed shares of Motorola gained 3.5 percent to $6.24.
Reuters Messaging: ryan.vlastelica.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.
Real-time Equity news
For U.S. stock market report double-click 1730 ET 23June2009 Option traders circle Expedia put options
Online travel agency Expedia Inc shares fell 2.65 percent to $15.06 for the day. But in the options market, investors appeared to anticipate more losses as about 25,000 puts and 2,862 calls traded, 28 times the norm, according to Trade Alert. 'Option bears were prodded into action by a widely read newsletter and took heed of the recommendation to buy the July $15 strike price where nearly 12,000 puts changed hands for 93 cents apiece,' said Andrew Wilkinson, market analyst at Interactive Brokers Group. He said it appeared that put-buying investors braced for continued downward movement in the stock over the next month. Profits begin to amass for the traders if shares sink 8 percent from a share reference price of $15.27 to the break even point on the transaction at $14.07, he said. Sentiment based on order flow was 63 percent bearish, Trade Alert data show.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1705 ET 23June2009
U.S. earnings diary for June 24
The day's earnings calendar includes quarterly results from Monsanto Co and Bed Bath & Beyond Inc.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1724 ET 23June2009
U.S. economic diary for June 24
The day's economic agenda includes the Commerce Department's May durable goods orders at 8:30 a.m. (1230 GMT) and new home sales for May at 10 a.m. (1400 GMT).
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1644 ET 23Jun2009-US STOCKS
S&P gains on bargain hunting, but Boeing hits Dow
The S&P 500 rose on Tuesday as investors hunted for bargains a day after a steep sell-off, but another delay for Boeing's 787 Dreamliner kept the Dow in the red.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1430 ET 23June2009
Barclays upgrades Estee Lauder to 'equal weight'
Shares of Estee Lauder rose on Tuesday, after the cosmetics company was upgraded to 'equal weight' from 'underweight' at Barclays Capital. The firm forecast consistent organic sales trends, margin expansion and a more efficient supply chain at the company over time.
'For the next several quarters, we think valuation will be driven not by the company's current financial performance, but rather by expectations for a gradual but meaningful operating improvement further out,' it wrote.
For details, see
The stock rose 3.1 percent to $31.55 while Avon Products Inc slid 1.3 percent to $25.15 and Chattem Inc was off 1.7 percent to $64.66.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1425 ET 23June2009
Lab Corp to buy Monogram for $106.7 million
Laboratory Corporation of America on Tuesday said it would buy Monogram Biosciences Inc for about $106.7 million, or $4.55 per share of Monogram.
The per-share offer price represents a premium of about 170 per cent over the company's Monday closing price.
For details, see
Shares of Laboratory fell 1.1 percent to $64.97 while Monograms shares soared 169 percent to $4.52.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by Kenneth Barry
1420 ET 23June2009
Justice Department not planning to drop UBS case
The U.S. Justice Department on Tuesday said it wasn't planning to drop its lawsuit seeking to force UBS AG to disclose thousands of the Swiss bank's U.S. customers with secret accounts. The comment followed a report in the New York Times that said the lawsuit might be dropped.
A department spokesman said there was 'no basis' for the Times report.
'While the department is always willing to consider settlement in any case, the suggestion that the department is planning to drop this suit is simply untrue. The department is continuing with the case against UBS and will file its brief asking the court to enforce the summons on June 30,' spokesman Charles Miller said.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1416 ET 23June2009
AT&T extends Alcatel deal, to sell Motorola phone
AT&T Inc on Tuesday said it extended a network equipment supply agreement with Alcatel-Lucent and that it would soon start selling a cell phone from Motorola Inc.
The communications giant will start selling Motorola's Karma phone on June 28 for $79.99. The device is based on a proprietary operating system from Motorola, which is struggling to regain share in the cellphone market after years of criticism of its phone line-up.
For details, see
Shares of AT&T, a Dow component, rose nearly 2 percent to $24.62 on Tuesday while U.S.-listed shares of Motorola gained 3.5 percent to $6.24.
Reuters Messaging: ryan.vlastelica.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.