STOCKS NEWS US-Smithfield sees cost pressures in Q4

Stocks on the move

Real-time equity news

U.S. stock market report


0758 ET 21April2010
Smithfield sees cost pressures in Q4

Smithfield Foods Inc said higher costs will hurt its fresh pork and packaged meat margins in the fiscal 2010 fourth quarter.

The company also said that significant losses on the value of hedges on lean hogs will overshadow benefits from recent improvements in the live hog production business.

Shares of Smithfield closed Tuesday at $20.67.

Reuters Messaging: [e-mail]


0753 ET 21April2010
Boeing profit declines on fewer deliveries

Boeing Co, the world's second-largest plane maker, on Wednesday posted a narrowed quarterly profit on an 11 percent decline in commercial airplane deliveries.

Revenue fell 7.8 percent from the prior year.

For details, see

Shares of Boeing, a Dow component, rose 9 cents to $71.50 in premarket trading on light volume.

Reuters Messaging: [e-mail]


0746 ET 21April2010
Transocean rig hit by fire in Gulf of Mexico

A fire and explosion took place late Tuesday night offshore Louisiana on a Transocean drilling rig, with some crew members unaccounted for, Transocean said on Wednesday.

'A substantial majority of the 126-member crew is safe, but some crew members remain unaccounted for at this time,' the company said in a statement.

For details, see

Shares of Transocean edged 0.4 percent lower to $91.65 in premarket trading on heavy volume.

Reuters Messaging: [e-mail]


0736 ET 21April2010
Zale plans to sell stake to Golden Gate: Bloomberg

Zale Corp plans to sell a minority stake to Golden Gate Capital Corp, Bloomberg News reported on its website citing two people familiar with the decision.

Golden Gate's offer was chosen over proposals from Centerbridge Capital Partners LLC and TPG, the people -- who declined to be identified before an announcement -- told Bloomberg News.

For details, see

Shares of Zale closed Tuesday at $3.18.

Reuters Messaging: [e-mail]


0732 ET 21April2010
Altria profit gains on cost cuts, price hikes

Altria Group Inc posted a jump in quarterly profit, helped by cost cuts and price increases.

On an adjusted basis, the tobacco company reported first-quarter earnings that beat expectations.

For details, see

Shares of Altria edged 0.6 percent lower to $21.05 in premarket trading on light volume.

Reuters Messaging: [e-mail]


0728 ET 21April2010
Google in talks to buy ITA Software: Bloomberg

Google Inc is in talks to acquire airline IT and services provider ITA Software Inc, Bloomberg reported citing three people familiar with the matter.

Cambridge, Massachusetts-based ITA Software may seek about $1 billion, two of the people told the news agency, adding that the talks may not lead to a transaction.

For details, see

Shares of Google closed Tuesday at $555.04.

Reuters Messaging: [e-mail]


0726 ET 21April2010
EMC shares rise after lifing 2010 outlook

EMC Corp, the top maker of corporate data storage equipment, raised its full-year profit and revenue forecasts on Wednesday, bolstering the view of a recovery in the technology sector.

'During the first quarter, we saw customers move forward with increased confidence, focusing not only on cost-cutting initiatives, but beginning new innovative projects,' EMC Chief Financial Officer David Goulden said in a statement

For details, see

The stock gained 2 percent to $19.80 in premarket trading.

Reuters Messaging: [e-mail] 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.