STOCKS NEWS US-Wall St sinks as job losses mount, Boeing drags

Stocks on the move [HOT-RTRS] Real-Time Equity news [E U]

U.S. stock market report [.N]
1249 ET 05Dec2008-Wall St sinks as job losses mount, Boeing drags
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U.S. stocks fell on Friday as a loss of more than half-a-million jobs last
month heightened fears that the worst financial crisis since the 1930s is
becoming even more severe.

Investors, fearful that the job losses will cause consumers to cut back
spending and make the profit outlook more dire, sold stocks more broadly, but
the energy sector was the biggest casualty.

Investors were also on edge about the fate of the U.S. auto industry.

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Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1147 ET 05Dec2008-Albany Molecular falls after downgrade
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Jefferies & Co Friday downgraded Albany Molecular Research Inc (AMRI.O) to
underperform from hold, saying the company would be hurt as smaller biotech
company scale back on research and development projects. [ID: nBNG405040]

Shares of Albany tumbled 13 percent to $8.96 on Friday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1134 ET-05Dec2008 Traders grab Hartford calls betting on more near-term gains
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Option traders scooped up bullish call options in Hartford Financial
Services Group Inc (HIG.N), reflecting optimism on the insurance sector after
the company raised its 2008 profit forecast and said it had strong capital to
withstand further deterioration in the equity markets. Its shares surged 59.92
percent to $11.53 near midday. According to Trade Alert, about 48,000 calls and
12,000 puts traded in Hartford, three times the normal combined volume. "The
December calls dominate the trade, as they should, given the shot on a pop next
week, which clearly falls within December expiry," said Optionmonster.com
founder Jon Najarian in comments on the Web site. The demand for Hartford
options sent its December volatility to 180 percent up from the implied median
volatility of 125 percent as investors brace for more share swings.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1127 ET 05Dec2008-Brown-Forman surges after Q2, higher outlook
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Shares of alcoholic beverage company Brown-Forman (BFb.N) rallied on Friday
after it reported second-quarter earnings that beat expectations and raised its
2009 earnings outlook. The company said its results were helped by higher sales
of Jack Daniel's. [ID:nN05442701] The issue's class B shares gained 7 percent
to $46.97. Among other drinks companies, Boston Beer (SAM.N) was up 1.2 percent
to $29.69 while Molson Coors (TAP.N) fell 1.4 percent to $39.50.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1103 ET 05Dec2008-Berry Petroleum falls on downgrade
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Shares of Berry Petroleum (BRY.N) tumbled on Friday after Morgan Keegan
downgraded the stock to a market perform from an outperform, citing
lower-trending oil prices and high debt levels that would likely discourage
investors. The firm also cut its ratings on Gasco Energy (GSX.A) to
underperform and Bill Barrett Corp (BBG.N) to a market perform.

Berry Petroleum shares fell 23 percent to $6.76. Gasco Energy slid 7.3
percent to 38 cents while Bill Barrett shares dropped 11.4 percent to $15.41.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net))
1057 ET 05Dec2008-Obama: econ will get worse before it gets better
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President-elect Barack Obama Friday said that the economic crisis was
likely to get worse before it gets better, as he called for a stimulus plan
designed to create jobs over the next two years.

"There are no quick or easy fixes to this crisis, which has been many years
in the making," Obama said. [ID:nN05443876]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net