STOCKS NEWS US-FBR cuts Q3 earnings view on M. Stanley in half

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0846 ET 06Oct2009-FBR cuts Q3 earnings view on Morgan Stanley in half
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FBR Capital Markets almost halved its third-quarter earnings view for
Morgan Stanley (MS.N), citing lower sequential revenue, and said it expects
medium-sized brokers to make up some ground over larger competition.

The third-quarter institutional trading revenue for Morgan Stanley is
likely to be affected by a $500 million debt-value adjustment, the firm added.

For details, see [ID:nBNG139376]

Shares of Morgan Stanley rose 16 cents to $30 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0838 ET 06Oct2009-Exxon agrees to buy stake in Jubilee field
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Exxon Mobil (XOM.N) has agreed to buy Kosmos Energy's stake in the Jubilee
field in Ghana, three sources close to the matter said on Tuesday.

Financial terms of the agreement weren't disclosed, but analysts said the
stake could be worth up to $5 billion.

For details, see [ID:nWLA5038]

Shares of Exxon rose 0.6 percent to $68.01 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0830 ET 06Oct2009-Retail group sees U.S. holiday sales down 1 pct
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The National Retail Federation expects 2009 U.S. holiday sales, or retail
industry sales in the months of November and December, to fall 1 percent
year-over-year as rising unemployment and stagnant wage growth curb gift
buying.

This would be the second straight year of falling holiday sales. In 2008,
sales for the period dropped 3.4 percent.

For details, see [ID:nN05375558]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0822 ET 06Oct2009-Acadia, Biovail plan more study on drug
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Acadia Pharmaceuticals Inc (ACAD.O) and its partner Biovail Corp (BVF.N)
(BVF.TO) said on Tuesday they decided to conduct a third late-stage trial for
their experimental drug for psychosis related to Parkinson's disease that
failed in a late-stage trial last month.

The companies agreed to use the findings from the failed study along with
the data from a second, ongoing late-stage study, to arrive at an enhanced
study design that may be used in the third late-stage trial.

For details, see [ID:nBNG167642]

Shares of Acadia gained 20 percent to $1.98 in premarket trading, while
U.S.-listed shares of Biovail closed Monday at $14.70.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0815 ET 06Oct2009-Australian rate hike lifts futures
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U.S. stock index futures rose on Tuesday on renewed hopes for a global
economic recovery after Australia raised interest rates and in anticipation of
the start of an improved earnings season.

For details, see [ID:nN06414746]

Dow Jones industrial average futures DJc1 rose 72 points, while S&P 500
futures SPc1 gained 8.3 points, and Nasdaq 100 futures NDc1 were up 11.5
points.

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