STOCKS NEWS US-Sina results, outlook weighs on peers

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1107 ET 10June2009-Sina results, outlook weighs on peers
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Shares of Chinese Internet companies fell on Wednesday, a day after Sina
Corp (SINA.O) reported a drop in its first-quarter earnings. The company also
gave a revenue outlook that was below expectations.

For details, see [ID:nBNG311065]

Shares of Sina fell 7.8 percent to $30.36 while Baidu Inc (BIDU.O) was off
2.9 percent to $300.36 and Sohu.com Inc (SOHU.O) fell 1.5 percent to $67.81.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1056 ET 10June2009 Lear draws option bulls for second day, vols stay high
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Bullish option trading and high option implied volatility persists in
auto-parts maker Lear Corp for the second straight session. Its shares rose 33
cents to $1.92, possibly getting a lift after a top executive said on Tuesday
that the company remains in talks with lenders and potential investors to
restructure its debt-laden balance sheet and the discussions are
"constructive." Open interest in the stock's July $2.50 calls rose by about
25,000 lots following a day of heavy trading on Tuesday. Another 2,101 July
$2.50 calls traded this morning and the June $2.50 call strikes had volume of
1,495 contracts with open interest of 2,999 lots, Reuters data show. At 273
percent, the implied volatility is still high, but not much changed on the day
-- up about 33 percent on the week, said WhatsTrading.com option strategist
Frederic Ruffy. In all, 4,525 calls traded vs. 605 puts with sentiment based on
order flow at 58 percent bullish, Trade Alert data show.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1043 ET 10June2009-KeyBanc upgrades two steel companies, cuts two
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KeyBanc on Wednesday adjusted its ratings on a number of steel companies,
saying it was shifting its investment thesis "to better capture emergence of
pricing and demand recovery in U.S. flat-rolled markets."

The firm upgraded both U.S. Steel (X.N) and Olympic Steel (ZEUS.O) to buy
from hold. Writing about U.S. Steel, KeyBanc wrote "we believe the stock will
react favorably to global recovery in flat-rolled products and potential
stabilization in energy end markets."

As part of its call, the firm also downgraded both Nucor (NUE.N) and
Reliance Steel (RS.N) to hold from buy. "This reflects a combination of lower
flat-rolled exposure, above-average exposure to nonresidential construction
markets, and the generally superior share price performance achieved over the
time frame of the fourth quarter of 2009 to the second quarter of 2009."

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1032 ET 10June2009-Oxford Industries tops estimates, shares rise
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Oxford Industries Inc (OXM.N) shares rose on Wednesday a day after the
company reported first-quarter results that topped Wall Street estimates, as
lower operating sales were offset by improved gross margins and lower expenses.

The apparel maker posted first-quarter earnings of 42 cents a share, well
above the average estimate of analysts surveyed by Thomson Reuters of 25 cents
per share.

However, the company said it will not be providing 2009 sales and earnings
guidance given the lack of visibility in the current economic environment and
noted its plans for the year were conservative.

Shares climbed 4.5 percent to $12.71 while rivals Phillips -Van Heusen Corp
(PVH.N) fell 0.7 percent to $30.40 and Polo Ralph Lauren Corp (RL.N) slid 1.4
percent to $55.82.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net