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Real-time equity news
U.S. stock market report
1717 ET 12Feb2010-US fourth
qtr earnings estimates edge up in latest week
Estimates for fourth-quarter Standard & Poor's companies' earnings rose slightly in the latest week, as more companies reported results that beat estimates, according to Thomson Reuters.
Fourth-quarter earnings for S&P 500 companies are expected to increase 208 percent from a year ago, compared with an estimate for an increase of 206 percent last week. The numbers combine actual earnings and estimated earnings.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1707 ET 12Feb2010
Dow, S&P 500 dip on China lending curb; Nasdaq up
The Dow and S&P 500 dipped on Friday as China's move to curb bank lending and U.S. and European economic data raised fears the global recovery might be in jeopardy.
Even so, Wall Street stocks ended off the day's lows as investors bet the European Union would come up with a clearly defined plan to aid debt-laden Greece and restore confidence in countries using the euro.
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Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1446 ET 12Feb2010
Berkshire Hathaway options on Class B shares brisk
Berkshire Hathaway Inc Class B shares fell 56 cents to $76.13, on the day the stock will be added to the S&P 500 Index. For details see, 'It doesn't seem that many investors expect much of a boost from the 'index effect', as shares are down and one of the top trades is a seller of 10,000 March $78 calls at $1.60 per contract,' said WhatsTrading.com option strategist Frederic Ruffy. More than 12,600 contracts traded in that strike, according to Trade Alert. Overall option volume was double the recent average daily turnover with about 61,000 calls and 44,000 puts traded, Trade Alert data show. The stock's option implied volatility dropped about 6 percent to 30 percent during the session.
'The stock had risen 12.8 percent since the S&P made the announcement and so the possibility of a lift from the index effect might have already been discounted in the share price,' Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1409 ET 12Feb2010-Player extends Bon
Ton bullish option trade
Department store operator Bon-Ton Stores Inc shares fell 3.75 percent to $8.45 in afternoon trade.
In the options arena, one investor extended the duration of a bullish play on the stock whose shares have languished since peaking at $14.57 at Thanksgiving, said Andrew Wilkinson, senior market analyst at Interactive Brokers Group in a note.
Activity suggests this investor is willing to spend an additional 55 cents to buy a further three months time value as the player rolls around 6,500 calls from April to July expiration at the $10 strike. 'In order for this play to come good, Bon-Ton needs to display a positive earnings report between now and then,' Wilkinson said.
'The trader apparently is rolling the April position forward by three months to allow more time for the stock to recover and for the bullish strategy to work,' said optionMonster analyst Mike Yamamoto in comments on the Web site, who also cited the trade.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1325 ET 12Feb2010-Indexes set to snap a 4
week losing streak
The Dow Jones industrial average, the S&P 500 and the Nasdaq were all on track to halt a four-week losing streak on Friday, after investors earlier in the week scoured the market for beaten down shares.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1309 ET 12Feb2010-Wall St seen in a consolidation phase
Davidson Cos
'We view the U.S. stock market as being in an extended 'consolidation' phase of a longer-term bull market with stock prices moving in a fairly wide and volatile trading range,' said Fred Dickson, chief market strategist at Davidson Cos in Lake Oswego, Oregon.
The benchmark S&P 500 is down 6.6 percent from its 15-month closing peak of Jan. 19.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. 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
1717 ET 12Feb2010-US fourth
qtr earnings estimates edge up in latest week
Estimates for fourth-quarter Standard & Poor's companies' earnings rose slightly in the latest week, as more companies reported results that beat estimates, according to Thomson Reuters.
Fourth-quarter earnings for S&P 500 companies are expected to increase 208 percent from a year ago, compared with an estimate for an increase of 206 percent last week. The numbers combine actual earnings and estimated earnings.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1707 ET 12Feb2010
Dow, S&P 500 dip on China lending curb; Nasdaq up
The Dow and S&P 500 dipped on Friday as China's move to curb bank lending and U.S. and European economic data raised fears the global recovery might be in jeopardy.
Even so, Wall Street stocks ended off the day's lows as investors bet the European Union would come up with a clearly defined plan to aid debt-laden Greece and restore confidence in countries using the euro.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1446 ET 12Feb2010
Berkshire Hathaway options on Class B shares brisk
Berkshire Hathaway Inc Class B shares fell 56 cents to $76.13, on the day the stock will be added to the S&P 500 Index. For details see, 'It doesn't seem that many investors expect much of a boost from the 'index effect', as shares are down and one of the top trades is a seller of 10,000 March $78 calls at $1.60 per contract,' said WhatsTrading.com option strategist Frederic Ruffy. More than 12,600 contracts traded in that strike, according to Trade Alert. Overall option volume was double the recent average daily turnover with about 61,000 calls and 44,000 puts traded, Trade Alert data show. The stock's option implied volatility dropped about 6 percent to 30 percent during the session.
'The stock had risen 12.8 percent since the S&P made the announcement and so the possibility of a lift from the index effect might have already been discounted in the share price,' Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1409 ET 12Feb2010-Player extends Bon
Ton bullish option trade
Department store operator Bon-Ton Stores Inc shares fell 3.75 percent to $8.45 in afternoon trade.
In the options arena, one investor extended the duration of a bullish play on the stock whose shares have languished since peaking at $14.57 at Thanksgiving, said Andrew Wilkinson, senior market analyst at Interactive Brokers Group in a note.
Activity suggests this investor is willing to spend an additional 55 cents to buy a further three months time value as the player rolls around 6,500 calls from April to July expiration at the $10 strike. 'In order for this play to come good, Bon-Ton needs to display a positive earnings report between now and then,' Wilkinson said.
'The trader apparently is rolling the April position forward by three months to allow more time for the stock to recover and for the bullish strategy to work,' said optionMonster analyst Mike Yamamoto in comments on the Web site, who also cited the trade.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1325 ET 12Feb2010-Indexes set to snap a 4
week losing streak
The Dow Jones industrial average, the S&P 500 and the Nasdaq were all on track to halt a four-week losing streak on Friday, after investors earlier in the week scoured the market for beaten down shares.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1309 ET 12Feb2010-Wall St seen in a consolidation phase
Davidson Cos
'We view the U.S. stock market as being in an extended 'consolidation' phase of a longer-term bull market with stock prices moving in a fairly wide and volatile trading range,' said Fred Dickson, chief market strategist at Davidson Cos in Lake Oswego, Oregon.
The benchmark S&P 500 is down 6.6 percent from its 15-month closing peak of Jan. 19.
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. 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.