STOCKS NEWS US-Tech sector Q1 job cuts jump 27 pct vs Q4 -report

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

U.S. stock market report [.N]
1458 ET 06April2009-Tech sector Q1 job cuts jump 27 pct vs Q4 -report
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Firms in the United States technology sector announced planned job cuts
totaling 84,217 in the first quarter, up 27 percent from 66,312 in the previous
quarter.

It was the largest quarterly job-cut tally for the sector since 2002, when
133,511 layoffs were announced in the fourth quarter, according to a report
released on Monday by global outplacement firm Challenger, Gray & Christmas,
Inc.

Despite the increase, quarterly tech job cuts remain well below the levels
reached during the dotcom collapse that resulted in 1,163,742 tech-sector job
cuts in 2001 and 2002.

During that period, employers announced an average of 145,467 job cuts each
quarter, the outplacement firm added.

Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1446 ET 06April2009-Infosys Technologies gets bearish put spreader
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U.S. listed shares of Indian information technology company Infosys
Technologies Ltd (INFY.BO) (INFY.O) fell 3.13 percent to $28.15 in late trade.
Infosys appeared at the top of Interactive Brokers Group's "hot by options
volume" market scanner after one player initiated a ratio put spread in the
April contract, said Interactiver Brokers' market analyst Andrew Wilkinson in a
note. At the April $25 strike price, 10,000 puts were sold for a premium of 50
cents apiece while 5,000 puts were purchased at the April $27.50 strike for
$1.30 each. The net cost of the bearish trade amounted to 30 cents and yields a
maximum potential profit of $2.20 if shares fall to $25 by expiration. Shares
would need to fall by at least 4 percent from the current price in order to
breach the break even point at $27.20, the price at which the investor begins
to amass profits on the downside, Wilkinson added.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1435 ET 06April2009-Calyon starts banks at underperform
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Calyon Securities analyst Mike Mayo on Monday started coverage on the U.S.
banking sector with an underperform rating, arguing that government action to
stabilize the group may not help as much as expected, and that the sector's
problems still had further to run. Mayo expects the group's loan losses to rise
to 3.5 percent from 2 percent by the end of 2010 because of ongoing problems
with mortgages. "Loan losses, as a percentage of loans, will likely pass the
level of the Great Depression," Mayo wrote. [ID:nN06391861]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1412 ET 06April2009-March same-store sales to fall 0.3 pct: TR data
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Same-store sales are expected to have dropped 0.3 percent in March,
compared with a 0.7 percent drop in March 2008, according to the Thomson
Reuters same-store sales index. Almost all the strength is expected to come
from discount retailer Wal-Mart Stores (WMT.N). Excluding Wal-Mart, the largest
retailer in the index, comparable sales are expected to tumbled 4.7 percent
year-over-year.

The discount retail sector is the only group expected to post positive
sales growth. When Wal-Mart is included, the group is expected to post growth
of 2.6 percent. Excluding Wal-Mart, the sector is expected to report flat
sales.

The S&P Retail Index .RLX fell 1.9 percent to 308.10 on Monday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1404 ET 06April2009-Markets fall as bank fears resurface
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Major U.S. stock indexes fell on Monday after a warning from a prominent
analyst revived concerns about the health of the banking sector. Tech stocks
were pressured on the potential collapse of a takeover of Sun Microsystems
(JAVA.O). For details, see [ID:nN06365400].

The Dow Jones industrial average .DJI fell 1.3 percent to 7,911.11 while
the S&P 500 .SPX lost 1.7 percent to 828.56 and the Nasdaq .IXIC was off
1.8 percent to 1,593.06.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1358 ET 06April2009-NII Holdings down after subscriber growth data
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Shares of NII Holdings (NIHD.O) tumbled on Monday, after the company said
it added fewer subscribers than it had expected in the first quarter. It also
cut its 2009 net subscriber growth outlook, citing a drop in demand in Mexico.

For details, see [ID:nBNG441222]

The stock fell 18 percent to $14.42.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1351 ET 06April2009-Citi neutral on telecom equipment makers
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Citi on Monday started coverage on the telecommunications equipment
manufacturer group with a neutral rating, seeing a challenging demand outlook,
but positive catalysts beyond its 12-month investment window.

"With valuations now hovering close to trough levels, downside risk remains
limited. However we expect shares to remain range-bound and meaningful multiple
expansion is unlikely until a clearer roadmap towards revenue growth evolves,"
the firm wrote.

ADTRAN (ADTN.O), Tellabs (TLAB.O) and Polycom (PLCM.O) were also started at
neutral at the firm.

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