Stocks on the move
Real-time Equity news
U.S. stock market report
1749 ET 26Oct2009-AFTER THE BELL
Baidu slides after quarterly results
Shares of Chinese Internet search leader Baidu Inc slid 10 percent to $389.98 following the closing bell on Monday after the company posted its third-quarter results. For details, see
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1730 ET 26Oct2009
S&P earnings to benefit from dollar, global rebound-UBS
Earnings for Standard & Poor's 500 companies should benefit from a weak dollar and a rebound in the global economy, particularly emerging markets, going forward, according to analysts at UBS.
Although dollar weakness has had little impact so far on third-quarter profits being reported now, that will change in the fourth quarter, when currency translation should become more positive, they said.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1701 ET 26Oct2009
Option traders brace for post earnings move in Baidu
A number of option traders were looking for large share price swing in China Internet search giant Baidu Inc after it reports earnings due on Monday. Its U.S.-listed shares fell 2.34 percent to $432.97 and reached a 52-week high of $439.90. Baidu options were busy. Volume was double the norm with 39,000 calls and 24,000 puts traded, according to Trade Alert. 'Front-month November options were active in both puts and calls with strike prices as far $100 away from the current share value,' said William Lefkowitz, option strategist at vFinance Investments. 'It appears that some traders initiated volatility plays using both puts and calls.' A lot of the action appeared to be retail as the top trade earlier was a lot of 200 Nov $460 calls above the offer for $11.50, said WhatsTrading.com option strategist Frederic Ruffy. The stock's average implied volatility was 51.3 percent and a skew between November and December hints at a possible earnings gap move of $34.50 per share, or about 8 percent, when it reports, he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1206 ET 26Oct2009
Caterpillar cuts 2,500 jobs, recalls others
Caterpillar Inc on Monday said it plans to permanently cut 2,500 workers, even as increasing demand would allow it to recall some employees who had already been laid off.
The company has already brought back some workers, and estimates that due to signs of recovery in the global economy, about 550 of those laid-off will return by the end of 2010. The company has forecast sales next year would rise between 10 percent and 25 percent.
For details, see
Shares of Caterpillar, a Dow component, fell 1.2 percent to $56.90.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1149 ET 26Oct2009
Lion's Gate falls after film debut
Shares of Lions Gate Entertainment fell on Monday, following the weak debut of the studio's film 'Saw VI.'
The film, the latest in a successful franchise, debuted with $14.8 million, the weakest debut in the history of the series. The first five films had an average opening weekend of $29.1 million, according to box office analyst Paul Dergarabedian.
For details, see
The stock fell 4.8 percent to $5.37.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1125 ET 26Oct2009
S&P 500 must hold critical 1,080 level-Instinet
A breach of the 1,080 level would violate an important short-term technical level and put the benchmark index on a downward trajectory.
'Falling under that level with multiple closes would suggest a test of the July trendline near 1,048 (also the location of the 50-day moving average,' Instinet technical analysts said in a note on Monday.
Before midday, the Standard & Poor's 500 Index was up 7.64 points, or 0.71 percent, at 1,087.24.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1114 ET 26Oct2009
ION Geophysical soars on joint venture deal
Shares of ION Geophysical Corp surged on Monday, after the company agreed to form a joint venture with BGP Inc to provide land seismic products.
Under the terms of the agreement, BGP will invest $175 million for a 17 percent stake in ION and a 51 percent interest in the joint venture. Prior to the closing of the deal, expected in first quarter of 2010, ION will also receive $40 million bridge financing arranged by BGP.
For details, see
ION shares climbed 35 percent to $4.78.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1054 ET 26Oct2009
Ares Capital to buy Allied Capital for $648 mln
Shares of financing company Allied Capital soared on Monday, after Ares Capital agreed to buy the company in an all-stock deal valued at $648 million, or $3.47 per share.
The per-share offer price represents a premium of 27 percent to Allied's Friday close.
For details, see
Ares shares gained 9.5 percent to $11.70 on Monday, while Allied climbed 26 percent to $3.45.
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
U.S. stock market report
1749 ET 26Oct2009-AFTER THE BELL
Baidu slides after quarterly results
Shares of Chinese Internet search leader Baidu Inc slid 10 percent to $389.98 following the closing bell on Monday after the company posted its third-quarter results. For details, see
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1730 ET 26Oct2009
S&P earnings to benefit from dollar, global rebound-UBS
Earnings for Standard & Poor's 500 companies should benefit from a weak dollar and a rebound in the global economy, particularly emerging markets, going forward, according to analysts at UBS.
Although dollar weakness has had little impact so far on third-quarter profits being reported now, that will change in the fourth quarter, when currency translation should become more positive, they said.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1701 ET 26Oct2009
Option traders brace for post earnings move in Baidu
A number of option traders were looking for large share price swing in China Internet search giant Baidu Inc after it reports earnings due on Monday. Its U.S.-listed shares fell 2.34 percent to $432.97 and reached a 52-week high of $439.90. Baidu options were busy. Volume was double the norm with 39,000 calls and 24,000 puts traded, according to Trade Alert. 'Front-month November options were active in both puts and calls with strike prices as far $100 away from the current share value,' said William Lefkowitz, option strategist at vFinance Investments. 'It appears that some traders initiated volatility plays using both puts and calls.' A lot of the action appeared to be retail as the top trade earlier was a lot of 200 Nov $460 calls above the offer for $11.50, said WhatsTrading.com option strategist Frederic Ruffy. The stock's average implied volatility was 51.3 percent and a skew between November and December hints at a possible earnings gap move of $34.50 per share, or about 8 percent, when it reports, he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1206 ET 26Oct2009
Caterpillar cuts 2,500 jobs, recalls others
Caterpillar Inc on Monday said it plans to permanently cut 2,500 workers, even as increasing demand would allow it to recall some employees who had already been laid off.
The company has already brought back some workers, and estimates that due to signs of recovery in the global economy, about 550 of those laid-off will return by the end of 2010. The company has forecast sales next year would rise between 10 percent and 25 percent.
For details, see
Shares of Caterpillar, a Dow component, fell 1.2 percent to $56.90.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1149 ET 26Oct2009
Lion's Gate falls after film debut
Shares of Lions Gate Entertainment fell on Monday, following the weak debut of the studio's film 'Saw VI.'
The film, the latest in a successful franchise, debuted with $14.8 million, the weakest debut in the history of the series. The first five films had an average opening weekend of $29.1 million, according to box office analyst Paul Dergarabedian.
For details, see
The stock fell 4.8 percent to $5.37.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1125 ET 26Oct2009
S&P 500 must hold critical 1,080 level-Instinet
A breach of the 1,080 level would violate an important short-term technical level and put the benchmark index on a downward trajectory.
'Falling under that level with multiple closes would suggest a test of the July trendline near 1,048 (also the location of the 50-day moving average,' Instinet technical analysts said in a note on Monday.
Before midday, the Standard & Poor's 500 Index was up 7.64 points, or 0.71 percent, at 1,087.24.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1114 ET 26Oct2009
ION Geophysical soars on joint venture deal
Shares of ION Geophysical Corp surged on Monday, after the company agreed to form a joint venture with BGP Inc to provide land seismic products.
Under the terms of the agreement, BGP will invest $175 million for a 17 percent stake in ION and a 51 percent interest in the joint venture. Prior to the closing of the deal, expected in first quarter of 2010, ION will also receive $40 million bridge financing arranged by BGP.
For details, see
ION shares climbed 35 percent to $4.78.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1054 ET 26Oct2009
Ares Capital to buy Allied Capital for $648 mln
Shares of financing company Allied Capital soared on Monday, after Ares Capital agreed to buy the company in an all-stock deal valued at $648 million, or $3.47 per share.
The per-share offer price represents a premium of 27 percent to Allied's Friday close.
For details, see
Ares shares gained 9.5 percent to $11.70 on Monday, while Allied climbed 26 percent to $3.45.
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.