STOCKS NEWS US-Dr Pepper Snapple climbs on earnings, outlook
Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US] U.S. stock market report [.N] 1134 ET 13May2009-Dr Pepper Snapple climbs on earnings, outlook ------------------------------------------------------------------------------
Dr Pepper Snapple Group Inc (DPS.N) shares rose on Wednesday after the soft
drink maker reported a higher-than-expected quarterly profit and raised its
2009 profit forecast.
Shares rose 3.1 percent to $21.92. Rivals Coca-Cola Co (KO.N) slid 1.3 percent to $43.84 while PepsiCo Inc (PEP.N) added 0.4 percent to $49.44. 1052 ET 13May2009-Medicines Co cancels trial, shares plunge ------------------------------------------------------------------------------
Medicines Co (MDCO.O) shares plunged on Wednesday after the company said it
is discontinuing late-stage trials of its antiplatelet agent cangrelor in
patients undergoing a procedure to widen narrow arteries, as it does not expect
the drug to meet its goal. [IDnBNG412444]
The drug was licensed exclusively in December 2003 from AstraZeneca
(AZN.L)
Medicines Co shares plummeted 37 percent to $7.00 while U.S.-traded shares
of AstraZeneca (AZN.N) gained 1.1 percent to $39.83.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net 1020 ET 13May2009-Retail shares fall after data ----------------------------------------------------------------------------
Shares of retailers fell on Wednesday after government data showed retail sales fell for a second straight month in April as cash-strapped consumers curbed their spending.
The S&P retail index .RLX slipped 2.2 percent, while Dow component
Wal-Mart Stores Inc (WMT.N) was down 1.4 percent at $49.93. For details, see
[ID:nN13384420].
As well, Macy's Inc (M.N) fell 5.5 percent to $11.67 after the department
store chain reported a smaller-than-expected quarterly loss as cost cuts offset
declining sales. [ID:nN13384420].
Reuters Messaging: leah.schnurr.reuters.com@reuters.net 1002 ET 13May2009-Wall Street opens lower on retail data ------------------------------------------------------------------------------
U.S. stocks fell at the open on Wednesday after key retail sales data came in worse than expected, dampening hopes that an economic recovery was near.
The Dow Jones industrial average .DJI dropped 153.48 points, or 1.81 percent, to 8,315.63. The Standard & Poor's 500 Index .SPX fell 17.38 points, or 1.91 percent, to 890.97. The Nasdaq Composite Index .IXIC slid 30.61 points, or 1.78 percent, to 1,685.31. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net 0924 ET 13May2009-Goldman ups engineering & construction sector ------------------------------------------------------------------------------
Goldman Sachs upgraded its view on the engineering and construction sector to "neutral" from "cautious" and adjusted its rating on several stocks in the group. [ID:nBNG123527]
The firm cited a more constructive outlook on crude oil and China for the second half of 2009 and 2010, the belief that major downward revisions are past and the possibility of a rally over the next six months along with oil.
Goldman upgraded Jacobs Engineering Group Inc (JEC.N) to "buy" from "sell" and removed it from its conviction sell list. The firm also upgraded Fluor Corp (FLR.N) to "neutral" from "sell" but downgraded Emcor Group (EME.N) to "sell" from "neutral." Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net 0915 ET 13May2009-Goldman Sachs upgrades SunTrust ------------------------------------------------------------------------------
Goldman Sachs removed SunTrust Banks Inc (STI.N) from its Americas sell
list and raised the stock to "neutral," saying the bank's stress test capital
need was smaller than what the brokerage had expected. [ID:nBNG370648]
The brokerage set an $18 price target on the stocks.
Shares fell 1.8 percent to $15.93 in premarket trade. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
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