STOCKS NEWS US-Commercial real estate fell in Q1: NAR

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1024 ET 20May2009-Commercial real estate fell in Q1: NAR
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The U.S. commercial real estate sector fell in the first quarter, the
National Association of Realtors said on Wednesday.

The NAR's index of brokerage activity in the sector fell 4.8 percent in the
first quarter from the fourth. Activity was also 12.9 percent below the first
quarter of 2008, it said.

"Significant job losses have reduced the demand for commercial space, while
a lack of credit has stalled transactions and refinancing activity," said the
association's chief economist, Lawrence Yun, in a statement. "Because
commercial real estate always lags an overall economic recovery, it will take
some time for the commercial real estate market to rebound."

For details, see [ID:nWEQ001016]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1018 ET 20May2009-Brady Corp jumps after earnings, outlook
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Brady Corp (BRC.N) shares jumped on Wednesday after the company reported
adjusted earnings that topped analysts' expectations and reaffirmed its outlook
for 2009. [ID:nBNG76549]

The identification products maker reported third-quarter earnings of 34
cents a share, including a 3 cents per share restructuring charge, versus Wall
Street expectations of 34 cents a share.

The company also reaffirmed its 2009 adjusted earnings per share view of
$1.61 to $1.80 per share, which is above $1.60 estimate of analysts surveyed by
Thomson Reuters.

Brady Corp shares surged more than 17 percent to $26.41.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1012 ET 20May2009-Bank of America CEO Lewis: economy is bottoming
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Kenneth Lewis, the chief executive officer of Bank of America Corp (BAC.N),
on Wednesday said that the worst of the economic downturn has likely passed and
conditions will not worsen as much as feared, a day after his bank raised
$13.47 billion in a common stock offering.

"We are on the cusp of what will turn out to be a slow but sustainable
economic recovery," Lewis said at a conference in London on Wednesday. "There
will continue to be a lot of pain ... but I think the worst is most likely
behind us."

He forecast modest growth in the United States and Europe in the second
half of 2009.

For details, see [ID:nN20488946]

Shares of Bank of America, a Dow component, rose 7.6 percent to $12.10 on
Wednesday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1001 ET 20May2009-Barclays downgrades Colgate-Palmolive
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Barclays Capital on Wednesday downgraded Colgate-Palmolive (CL.N) to equal
weight from overweight, saying its peers were more likely to see a greater
acceleration in revenue growth when the economy stabilizes.

"It may be time to consider stocks where there is potential for meaningful
earnings leverage on a reacceleration in top-line growth," the firm wrote to
clients.

As part of its call, Barclays upgraded peer consumer products company
Procter & Gamble (PG.N) to overweight.

For details, see [ID:nBNG353411]

Shares of Colgate edged 0.5 percent lower to $63.93 while Procter & Gamble,
a Dow component, rose 2.5 percent to $54.28.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0950 ET 20May2009-Apparel retail index rises after Tween Brands
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The Dow Jones U.S. Apparel Retailers index .DJUSRA rose on Wednesday,
lifted after the release of company quarterly results, including from Tween
Brands Inc (TWB.N).

In its results, Tween reported a loss that was much narrower than expected.
It also said it was on track to satisfy its credit facility covenants, sending
its shares up nearly 34 percent to $4.20. [ID:nBNG386686]

The apparel retail index rose 2.3 percent to 268.33 while J Crew Group
(JCG.N) gained 6 percent to $21.77, Gap Inc (GPS.N) added 3.9 percent to $16.60
and Urban Outfitters Inc (URBN.O) was up 4.8 percent to $20.69.

AnnTaylor Stores Corp (ANN.N) was up 0.5 percent to $8.99. Earlier, the
company reported a quarterly loss that was narrower than expected.
[ID:nN20449275]

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