Real-time equity news
U.S. stock market report
1014 EST 01Feb2011 Upward trend of stock prices stays intact
analyst
The upward trend of prices remains intact, said Larry McMillan, president of McMillan Analysis Corp in a report. The S&P 500 index has support at 1,275, which are the lows of Friday and Monday.
The CBOE Volatility Index, Wall Street's favorite yardstick of anxiety, did not drop as much as one might have expected, considering the strong recovery rally on Monday, MacMillan said. 'That's a bit bearish,' he said. The equity-only put-call ratios that McMillan tracks remain on sell signals, and so do the breadth oscillators, even after improved breadth readings on Monday. Once again, this intermediate-term uptrend remains in effect as long as the SPX stays above support at 1,262 and above its major rising trendline which is also very close to 1,262 -- regardless of negative signals from the other indicators, McMillan said. The SPX rose 0.86 percent to 1,297.34 early on Tuesday.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
0848 EST 1Feb2011
European bank ADRs up after Deutsche Bank results
U.S.-listed shares of European banks rose in premarket trading on Tuesday after Deutsche Bank reported its fourth-quarter results.
While the company's profit was below expectations, the miss came after DB took out the costs of a revamp, a move analysts said could help the lender get closer to meeting tough targets this year.
For details, see
Deutsche Bank shares rose 2.3 percent to $59.91 before the bell on the New York Stock Exchange. Among other European banks, Barclays Plc rose 1.6 percent to $19.11 and the National Bank of Greece climbed 6.8 percent to $2.04.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0832 EST 1Feb2011
Pfizer cuts 2012 sales outlook
Pfizer Inc cut its sales projection for 2012, the first full year that its $10 billion-a-year Lipitor cholesterol drug faces competition from cheaper U.S. generics.
For details, see
Shares of the Dow component edged 0.4 percent lower to $18.15 in premarket trading.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0814 EST 1Feb2011
UPS rises in premarket after results, lifts FedEx
United Parcel Service rose premarket after the package delivery company reported fourth-quarter results.
For details, see
UPS gained 2.6 percent to $73.50 before the bell, while peer FedEx Corp rose 1.9 percent to $92.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0722 EST 1Feb2011
Futures higher as attention returns to economy
U.S. stock index futures advanced as investors turned their attention from the geopolitical tremors in the Middle East to data they hope will provide insight into the state of the U.S. economic recovery.
For details, see
S&P 500 futures rose 5.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 40 points, and Nasdaq 100 futures were up 13.5 points.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0658 EST 1Feb2011
Economic indicators for Feb. 1
Economic indicators on tap include ISM manufacturing data and vehicle sales, both for January.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0654 EST 1Feb2011
Earnings diary for Feb. 1
Companies scheduled to report quarterly results include Pfizer Inc, Archer Daniels Midland, United Parcel Service, Aflac Inc , Lexmark International Inc and Cummins Inc.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2011. 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
1014 EST 01Feb2011 Upward trend of stock prices stays intact
analyst
The upward trend of prices remains intact, said Larry McMillan, president of McMillan Analysis Corp in a report. The S&P 500 index has support at 1,275, which are the lows of Friday and Monday.
The CBOE Volatility Index, Wall Street's favorite yardstick of anxiety, did not drop as much as one might have expected, considering the strong recovery rally on Monday, MacMillan said. 'That's a bit bearish,' he said. The equity-only put-call ratios that McMillan tracks remain on sell signals, and so do the breadth oscillators, even after improved breadth readings on Monday. Once again, this intermediate-term uptrend remains in effect as long as the SPX stays above support at 1,262 and above its major rising trendline which is also very close to 1,262 -- regardless of negative signals from the other indicators, McMillan said. The SPX rose 0.86 percent to 1,297.34 early on Tuesday.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
0848 EST 1Feb2011
European bank ADRs up after Deutsche Bank results
U.S.-listed shares of European banks rose in premarket trading on Tuesday after Deutsche Bank reported its fourth-quarter results.
While the company's profit was below expectations, the miss came after DB took out the costs of a revamp, a move analysts said could help the lender get closer to meeting tough targets this year.
For details, see
Deutsche Bank shares rose 2.3 percent to $59.91 before the bell on the New York Stock Exchange. Among other European banks, Barclays Plc rose 1.6 percent to $19.11 and the National Bank of Greece climbed 6.8 percent to $2.04.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0832 EST 1Feb2011
Pfizer cuts 2012 sales outlook
Pfizer Inc cut its sales projection for 2012, the first full year that its $10 billion-a-year Lipitor cholesterol drug faces competition from cheaper U.S. generics.
For details, see
Shares of the Dow component edged 0.4 percent lower to $18.15 in premarket trading.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0814 EST 1Feb2011
UPS rises in premarket after results, lifts FedEx
United Parcel Service rose premarket after the package delivery company reported fourth-quarter results.
For details, see
UPS gained 2.6 percent to $73.50 before the bell, while peer FedEx Corp rose 1.9 percent to $92.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0722 EST 1Feb2011
Futures higher as attention returns to economy
U.S. stock index futures advanced as investors turned their attention from the geopolitical tremors in the Middle East to data they hope will provide insight into the state of the U.S. economic recovery.
For details, see
S&P 500 futures rose 5.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 40 points, and Nasdaq 100 futures were up 13.5 points.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0658 EST 1Feb2011
Economic indicators for Feb. 1
Economic indicators on tap include ISM manufacturing data and vehicle sales, both for January.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net
0654 EST 1Feb2011
Earnings diary for Feb. 1
Companies scheduled to report quarterly results include Pfizer Inc, Archer Daniels Midland, United Parcel Service, Aflac Inc , Lexmark International Inc and Cummins Inc.
Reuters Messaging: ryan.vlastelica.thomsonreuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2011. 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.