Real-time equity news
U.S. stock market report
1726 ET 31Aug2010
Economic diaries for Sept 1
Economic indicators on tap for Sept 1 include ADP Employment Report at 8:15 a.m. EDT, ISM Manufacturing index at 10:00 a.m. EDT and Constructing Spending, also due at 10:00 a.m.
For more, see
Reuters Messaging: angela.moon.reuters.com@reuters.net
1722 ET 31Aug2010
Wall St ends dismal month on flat note, semis slide
U.S. stocks ended little changed in choppy trading on Tuesday, closing out an August the bulls would like to forget. Positive data surprises sustained a rally for most of the session, but declines in technology shares capped overall gains. The Dow Jones industrial average edged up 4.99 points, or 0.05 percent, to 10,014.72. The Standard & Poor's 500 ticked up 0.41 point, or 0.04 percent, to 1,049.33. The Nasdaq Composite slipped 5.94 points, or 0.28 percent, to close at 2,114.03. For the month, the Dow fell 4.31 percent while the Nasdaq tumbled 6.24 percent. The S&P 500 lost 4.75 percent, posting its worst August since 2001 in terms of percentage declines.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1424 ET 31Aug2010
Options activity soars on Saks Inc on report of buyout bid
Saks Inc drew heavy options activity after a news report suggested that a group of private equity firms might soon bid for the New York-based luxury department store operator. For details, see
The stock was now trading up 22.3 percent at $8.08. The sharp rise in demand for options and uncertainty regarding the status of potential buyout offers fueled a 49 percent increase in the stock's overall reading of options implied volatility to a high of 86.56 percent earlier in the morning, said Caitlin Duffy, options strategist at Interactive Brokers Group.
The majority of options players populating Saks are picking up put options as 'perhaps investors are long the stock and seeking to lock in profits on the substantial run up in shares,' she said. An alternative motivation for put buying could be that traders expect Saks' shares to tumble if confirmed buyout offers fail to surface.
Trading traffic in puts is heaviest at the September $9 strike where nearly
9,000 in-the
money contracts changed, Duffy said. 'It looks like the majority of these puts were purchased at an average premium of $1.20 each. Put buying spread all the way out to the January 2011 contract where investors picked up some 4,600 lots at the January 2011 $7.50 strike for an average premium of 80 cents each.'
Reuters Messaging: angela.moon.reuters.com@reuters.net
1414 ET 31Aug2010-Fed mulls stimulus if outlook worsens appreciably
minutes
The outlook for the U.S. economy would have to deteriorate 'appreciably' to spur fresh support from the Federal Reserve, minutes of the central bank's last policy meeting released on Tuesday suggest.
'The committee would need to consider steps it could take to provide additional policy stimulus if the outlook were to weaken appreciably further,' the Fed said in minutes of its Aug. 10 policy session.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1202 ET 31Aug2010
Markets rise on confidence, home price data
U.S. stocks rose on Tuesday as a pair of positive data surprises helped alleviate continued investor anxiety over the economy's strength.
For details, see
The Dow Jones industrial average was up 51.54 points, or 0.51 percent, at 10,061.27. The Standard & Poor's 500 Index was up 5.16 points, or 0.49 percent, at 1,054.08. The Nasdaq Composite Index was up 6.20 points, or 0.29 percent, at 2,126.17.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1051 ET 31Aug2010
Icahn raises Lions Gate offer to $7.50 per share
Activist investor Carl Icahn said on Tuesday he has increased his offer to buy Lions Gate Entertainment Corp to $7.50 per share.
Icahn said in a statement his latest offer would expire Oct. 22, unless extended or withdrawn.
For details, see
Shares of Lions Gate rose 13 percent to $7.33.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1035 ET 31Aug2010-Investor confidence falls in August
State Street
Confidence among institutional investors fell across the board in August, reflecting uncertainty about the world economy, State Street said on Tuesday.
The U.S. financial services firm said its global investor confidence index fell to 92.1 from an upwardly revised 96.5 in July. The July reading was previously stated as 96.0.
Anything below 100 implies bearish sentiment among State Street's large institutional clients. The index was last above 100 in March.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by Andrew Hay 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.
U.S. stock market report
1726 ET 31Aug2010
Economic diaries for Sept 1
Economic indicators on tap for Sept 1 include ADP Employment Report at 8:15 a.m. EDT, ISM Manufacturing index at 10:00 a.m. EDT and Constructing Spending, also due at 10:00 a.m.
For more, see
Reuters Messaging: angela.moon.reuters.com@reuters.net
1722 ET 31Aug2010
Wall St ends dismal month on flat note, semis slide
U.S. stocks ended little changed in choppy trading on Tuesday, closing out an August the bulls would like to forget. Positive data surprises sustained a rally for most of the session, but declines in technology shares capped overall gains. The Dow Jones industrial average edged up 4.99 points, or 0.05 percent, to 10,014.72. The Standard & Poor's 500 ticked up 0.41 point, or 0.04 percent, to 1,049.33. The Nasdaq Composite slipped 5.94 points, or 0.28 percent, to close at 2,114.03. For the month, the Dow fell 4.31 percent while the Nasdaq tumbled 6.24 percent. The S&P 500 lost 4.75 percent, posting its worst August since 2001 in terms of percentage declines.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1424 ET 31Aug2010
Options activity soars on Saks Inc on report of buyout bid
Saks Inc drew heavy options activity after a news report suggested that a group of private equity firms might soon bid for the New York-based luxury department store operator. For details, see
The stock was now trading up 22.3 percent at $8.08. The sharp rise in demand for options and uncertainty regarding the status of potential buyout offers fueled a 49 percent increase in the stock's overall reading of options implied volatility to a high of 86.56 percent earlier in the morning, said Caitlin Duffy, options strategist at Interactive Brokers Group.
The majority of options players populating Saks are picking up put options as 'perhaps investors are long the stock and seeking to lock in profits on the substantial run up in shares,' she said. An alternative motivation for put buying could be that traders expect Saks' shares to tumble if confirmed buyout offers fail to surface.
Trading traffic in puts is heaviest at the September $9 strike where nearly
9,000 in-the
money contracts changed, Duffy said. 'It looks like the majority of these puts were purchased at an average premium of $1.20 each. Put buying spread all the way out to the January 2011 contract where investors picked up some 4,600 lots at the January 2011 $7.50 strike for an average premium of 80 cents each.'
Reuters Messaging: angela.moon.reuters.com@reuters.net
1414 ET 31Aug2010-Fed mulls stimulus if outlook worsens appreciably
minutes
The outlook for the U.S. economy would have to deteriorate 'appreciably' to spur fresh support from the Federal Reserve, minutes of the central bank's last policy meeting released on Tuesday suggest.
'The committee would need to consider steps it could take to provide additional policy stimulus if the outlook were to weaken appreciably further,' the Fed said in minutes of its Aug. 10 policy session.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1202 ET 31Aug2010
Markets rise on confidence, home price data
U.S. stocks rose on Tuesday as a pair of positive data surprises helped alleviate continued investor anxiety over the economy's strength.
For details, see
The Dow Jones industrial average was up 51.54 points, or 0.51 percent, at 10,061.27. The Standard & Poor's 500 Index was up 5.16 points, or 0.49 percent, at 1,054.08. The Nasdaq Composite Index was up 6.20 points, or 0.29 percent, at 2,126.17.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1051 ET 31Aug2010
Icahn raises Lions Gate offer to $7.50 per share
Activist investor Carl Icahn said on Tuesday he has increased his offer to buy Lions Gate Entertainment Corp to $7.50 per share.
Icahn said in a statement his latest offer would expire Oct. 22, unless extended or withdrawn.
For details, see
Shares of Lions Gate rose 13 percent to $7.33.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1035 ET 31Aug2010-Investor confidence falls in August
State Street
Confidence among institutional investors fell across the board in August, reflecting uncertainty about the world economy, State Street said on Tuesday.
The U.S. financial services firm said its global investor confidence index fell to 92.1 from an upwardly revised 96.5 in July. The July reading was previously stated as 96.0.
Anything below 100 implies bearish sentiment among State Street's large institutional clients. The index was last above 100 in March.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by Andrew Hay 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.