STOCKS NEWS US-Pre-earnings anxiety trades seen on A-Power

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1413 EST 02Dec2009-Pre-earnings anxiety trades seen for A
Power: analyst

Shares of wind turbine marker A-Power Energy Generation Systems Ltd fell 5.1 percent to $15.33 ahead of the company's earnings due early Thursday. In options market, top trades seem to reflect some pre-earnings anxiety after the Dec $12.50-$17.50 risk-reversal trades at 20 cents, said WhatsTrading.com option strategist Fred Ruffy. One trader bought 2,400 Dec $12.50 puts at 70 cents and sold half as many Dec $17.50 calls at 90 cents, said Ruffy. After a two-week rally of 60 percent, the stock is down 12 percent over the past three sessions and implied volatility is elevated at 127.5 percent

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1403 EST 02Dec2009
JPMorgan rev could fall on legislation: analysts

JPMorgan Chase & Co estimates revenue could fall as much as $3 billion next year if new regulations force most of its derivative transactions onto an exchange, according to research firm Sanford C. Bernstein.

The bank, the largest derivatives dealer on Wall Street, could take an earnings hit of 13 cents to 20 cents per share in 2010 if proposed derivatives rules becomes law, the analysts estimated after speaking Tuesday with Steve Black, executive chairman of JPMorgan's investment bank.

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Shares of JPMOrgan, a Dow component, fell 1.3 percent to $41.67.

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1055 ET 02Dec2009
Callaway Golf barely moved after Woods statement

Shares of golf equipment maker Callaway Golf Co barely moved on Wednesday as Tiger Woods admitted he had let his family down in his private life.

The stock stayed in the range where it traded before Woods' statement, trading up 1.5 percent to $7.52 in midmorning trade.

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1022 ET 02Dec2009
Online retailers advance after ComScore data

Shares of online retailers rose on Wednesday, lifted after analytics firm ComScore said that online spending reached $887 million on 'Cyber Monday,' up 5 percent from the prior year.

ComScore added that in the holiday season-to-date, $12.26 billion has been spent online.

Shares of Amazon.com Inc rose 1.5 percent to $140.56 while Overstock.com was up 0.8 percent to $15.17 and luxury online retailer Blue Nile was up 1.3 percent to $59.36.

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1003 ET 02Dec2009
Defense contractors bounce after Obama's troop surge

Shares of defense contractors edged higher on Wednesday, a day after U.S. President Barack Obama announced a widely anticipated troop surge for Afghanistan.

The S&P Aerospace & Defense Index was up 0.4 percent.

Among individual stocks, Northrop Grumman edged up 0.7 percent to $55.65, while Boeing Co climbed nearly 1 percent to $54.22 and General Dynamics added 0.4 percent to $67.40.

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0951 ET 02Dec2009
CytRx shares advance after FDA lifts hold on drug

Shares of CytRx Corp rallied on Wednesday, after the company said that the Food and Drug Administration lifted a clinical hold on the company's experimental oral drug designed to treat Lou Gehrig's disease.

The move came after the FDA accepted the company's revised trial protocol.

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The stock climbed 10 percent to $1.10.

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