Stocks on the move
Real-time Equity news
U.S. stock market report
1724 ET 21Oct2009 ANALYSIS-
Whispers drive great earnings expectations
'Whisper numbers' - unofficial corporate earnings forecasts usually higher than professional analyst estimates -- are becoming a major market-moving factor as U.S. third quarter earnings enter full swing.
While the credibility of these numbers is disputed -- they are often used by traders to talk up their own positions -- their influence is not in question.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1550 ET 21Oct2009
Stocks decline; Bove cuts Wells Fargo to sell
U.S. stocks declined heading into the close after Rochdale Securities' analyst Richard Bove cut Wells Fargo to sell from neutral. Bove said loan losses for Wells Fargo seem to be accelerating on the negative side and that it does not appear that Wells Fargo can sustain third-quarter results.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1407 ET 21Oct2009
Ascent Solar rises, reaches higher efficiency
Shares of Ascent Solar Technologies Inc rose on Wednesday, after the company achieved a new efficiency milestone on some of its solar modules.
The company said it achieved 14 percent cell efficiency for its Copper, Indium, Gallium, Selenide (CIGS) on flexible plastic substrate produced at its Fab1 commercial production plant.
For details, see
The stock gained 4 percent to $6.23.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1246 ET 21Oct2009
Antigenics plummets, EU may not OK vaccine
Shares of Antigenics Inc plunged on Wednesday, after the company said that European health regulators were likely to turn down its application to market a kidney cancer vaccine.
The company said the European Medicines Agency's Committee for Medicinal Products for Human Use has verbally informed it to expect a negative opinion on the marketing authorization application for Oncophage (vitespen) in early-stage, localized renal cell carcinoma.
For details, see
The stock dropped 42 percent to $1.21.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1220 ET 21Oct2009-Birinyi end
2009 targets: S&P 500 1,280; DJIA 11,150
The benchmark S&P 500 could hit 1,280 by year-end since the index has gained an average 0.32 percent per day since the start of the rally's latest leg in mid-July, says market research firm Birinyi Associates.
The Dow Jones industrial average has gained an average of 18 points per day which implies a year-end target of 11,150, according to Birinyi.
'These are not meant to be forecasts but parameters and just as the market has traded through every parameter and metric, we see no reason why these numbers are not feasible,' the firm said in a note.
In Wednesday trade, the Dow Jones industrial average was up 37.79 points, or 0.38 percent, at 10,079.27. The Standard & Poor's 500 Index was up 5.32 points, or 0.49 percent, at 1,096.38.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1209 ET 21Oct2009
Baird downgrades three REITs to 'underperform'
Robert W. Baird on Wednesday downgraded a trio of real estate investment trusts, citing valuation and a cautious view on a recovery in lodging.
FelCor Lodging Trust Inc, LaSalle Hotel Properties and Strategic Hotels & Resorts Inc were all cut to 'underperform' from 'neutral.'
'We believe talk of green shoots for hotels may be premature,' the firm wrote, adding that it didn't see earnings growth returning for the group until 2011.
For details, see
FelCor shares dropped 3.4 percent to $4.25 while LaSalle was down 2 percent to $19.88 and Strategic Hotels sank 8 percent to $2.29.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1125 ET 21Oct2009
USG shares down after results, downbeat comments
Shares in Building products maker USG Corp fell sharply, losing 6.6 percent to $15.72, after the company reported a larger quarterly loss and said the near-term outlook remains challenging. For details, see
Reuters Messaging: Edward.Krudy.reuters.com@reuters.net
1101 ET 21Oct2009-RTRS
Apple shares surge to record intraday high
Shares of Apple Inc rose sharply on Wednesday, hitting a record intraday high of $206.20 as technology stocks advanced on increased optimism about the sector's profitability.
Apple, maker of the iPhone, MacBook computers and the iPod, posted quarterly results on Monday that blew past Wall Street's expectations.
The stock was last up 3.3 percent at $205.38 on Nasdaq.
Reuters Messaging: ellis.mnyandu.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
U.S. stock market report
1724 ET 21Oct2009 ANALYSIS-
Whispers drive great earnings expectations
'Whisper numbers' - unofficial corporate earnings forecasts usually higher than professional analyst estimates -- are becoming a major market-moving factor as U.S. third quarter earnings enter full swing.
While the credibility of these numbers is disputed -- they are often used by traders to talk up their own positions -- their influence is not in question.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1550 ET 21Oct2009
Stocks decline; Bove cuts Wells Fargo to sell
U.S. stocks declined heading into the close after Rochdale Securities' analyst Richard Bove cut Wells Fargo to sell from neutral. Bove said loan losses for Wells Fargo seem to be accelerating on the negative side and that it does not appear that Wells Fargo can sustain third-quarter results.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1407 ET 21Oct2009
Ascent Solar rises, reaches higher efficiency
Shares of Ascent Solar Technologies Inc rose on Wednesday, after the company achieved a new efficiency milestone on some of its solar modules.
The company said it achieved 14 percent cell efficiency for its Copper, Indium, Gallium, Selenide (CIGS) on flexible plastic substrate produced at its Fab1 commercial production plant.
For details, see
The stock gained 4 percent to $6.23.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1246 ET 21Oct2009
Antigenics plummets, EU may not OK vaccine
Shares of Antigenics Inc plunged on Wednesday, after the company said that European health regulators were likely to turn down its application to market a kidney cancer vaccine.
The company said the European Medicines Agency's Committee for Medicinal Products for Human Use has verbally informed it to expect a negative opinion on the marketing authorization application for Oncophage (vitespen) in early-stage, localized renal cell carcinoma.
For details, see
The stock dropped 42 percent to $1.21.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1220 ET 21Oct2009-Birinyi end
2009 targets: S&P 500 1,280; DJIA 11,150
The benchmark S&P 500 could hit 1,280 by year-end since the index has gained an average 0.32 percent per day since the start of the rally's latest leg in mid-July, says market research firm Birinyi Associates.
The Dow Jones industrial average has gained an average of 18 points per day which implies a year-end target of 11,150, according to Birinyi.
'These are not meant to be forecasts but parameters and just as the market has traded through every parameter and metric, we see no reason why these numbers are not feasible,' the firm said in a note.
In Wednesday trade, the Dow Jones industrial average was up 37.79 points, or 0.38 percent, at 10,079.27. The Standard & Poor's 500 Index was up 5.32 points, or 0.49 percent, at 1,096.38.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1209 ET 21Oct2009
Baird downgrades three REITs to 'underperform'
Robert W. Baird on Wednesday downgraded a trio of real estate investment trusts, citing valuation and a cautious view on a recovery in lodging.
FelCor Lodging Trust Inc, LaSalle Hotel Properties and Strategic Hotels & Resorts Inc were all cut to 'underperform' from 'neutral.'
'We believe talk of green shoots for hotels may be premature,' the firm wrote, adding that it didn't see earnings growth returning for the group until 2011.
For details, see
FelCor shares dropped 3.4 percent to $4.25 while LaSalle was down 2 percent to $19.88 and Strategic Hotels sank 8 percent to $2.29.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1125 ET 21Oct2009
USG shares down after results, downbeat comments
Shares in Building products maker USG Corp fell sharply, losing 6.6 percent to $15.72, after the company reported a larger quarterly loss and said the near-term outlook remains challenging. For details, see
Reuters Messaging: Edward.Krudy.reuters.com@reuters.net
1101 ET 21Oct2009-RTRS
Apple shares surge to record intraday high
Shares of Apple Inc rose sharply on Wednesday, hitting a record intraday high of $206.20 as technology stocks advanced on increased optimism about the sector's profitability.
Apple, maker of the iPhone, MacBook computers and the iPod, posted quarterly results on Monday that blew past Wall Street's expectations.
The stock was last up 3.3 percent at $205.38 on Nasdaq.
Reuters Messaging: ellis.mnyandu.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.