STOCKS NEWS US-Barclays raises estimates on Apple

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

U.S. stock market report [.N]
0934 ET 06April2009-Barclays raises estimates on Apple
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Barclays Capital on Monday raised its earnings estimates on Apple Inc
(AAPL.O), citing a new product pipeline and "very strong free cash flow."

"We believe new products including a new family of iPhones in June and an
ultraportable later this year should boost shares," the firm wrote, affirming
its overweight rating on the tech company.

Barclays raised its adjusted 2009 earnings outlook to $7.18 a share from
$6.44 a share. It also expects revenue growth of 10 percent year-over-year.

Shares of Apple slid 0.9 percent to $114.85.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0930 ET 06April2009-Markets open lower on banks, tech stocks
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Major U.S. indexes opened lower on Monday, falling after an analyst started
coverage on several large banks with an underperform or sell rating. Tech
stocks were also pressured after a potential merger between IBM (IBM.N) and Sun
Microsystems (JAVA.O) collapsed.

The Dow Jones industrial average .DJI fell 0.8 percent to 7,954.19 while
the S&P 500 .SPX lost 1.1 percent to 833.19 and the Nasdaq .IXIC was off
1.3 percent to 1,600.48.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0918 ET-06April2009 Analyst advises long VIX positions as hedge
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"We continue to suggest long VIX positions to hedge equity exposure," said
Michael McCarty, chief equity and option strategist at Meridian Equity Partners
in a note. The CBOE Volatility index .VIX, the implied volatility measure of
the S&P 500 index .SPX, on Friday ended at 39.70, its lowest close and the
first close below 40 since Jan. 28. The VIX tracks 30-day implied volatility as
derived from SPX options prices and is using April and May options in the
calculation. With this holiday shortened week and likely volume-reduced trading
week and the bulk of earnings reports to come after April 18 expiration, it is
likely that market volatility is expected to be more muted for the next few
days, he said. But he noted April VIX futures, which reflect only May SPX
options, closed at 41.70 on Friday and VIX futures through July all trade at a
premium to the spot VIX, suggesting rising risk expectations beyond the next
few days. "Frequent readers of our note will recall similar occurrences in late
August before the 4th quarter sell-off and in late January when the VIX last
closed below 40 preceding the February market lows," he said.

Reuters Messaging: doris.frankel.reuters.com@reutersarch
0906 ET 06April2009-Rio Tinto draws up plan for rights issue: paper
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Rio Tinto (RIO.L) (RTP.N) has drawn up contingency plans to raise $8
billion in a rights issue, according to a report in the Sunday Times, which
didn't cite any sources.

The issue will be underwritten by JPMorgan Cazenove and Credit Suisse, the
paper reported.

For details, see [ID:nSP413684]

U.S.-listed shares of Rio Tinto tumbled 11.1 percent to $132.90 in
premarket trade.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0858 ET 06April2009-Credit Suisse downgrades three commercial REITs
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Credit Suisse on Monday cut its estimates and targets on a number of
commercial real estate investment trusts, seeing "continued macro headwinds,
difficulty in accessing credit
markets, and rising cap rates."

The firm also downgraded both Alexandria Real Estate Equities (ARE.N) and
Kilroy Realty (KRC.N) to neutral from outperform and SL Green Realty (SLG.N) to
underperform from neutral. The targets were cut to $42 from $65, to $18 from
$28 and to $9 from $13, respectively.

Credit Suisse downgraded SL Green, it wrote, because of its "relatively
weak liquidity outlook, high leverage on debt to TEV basis, and its focus on
the New York City office market that is at risk of higher vacancy rates from
the consolidation in the financial services industry."

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