STOCKS NEWS US-Brady Corp jumps after earnings, outlook

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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
0936 ET 20May2009-Merrill remains bearish on upfront advertising
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Bank of America-Merrill Lynch on Wednesday said it remained bearish on the
upfront advertising sector, arguing that the group was "taking it on the
chin."

The firm wrote that confluence of economic uncertainty and limited
visibility "should make this year's upfront the most challenging of the past
decade.

"Of the four major broadcast networks, CBS Corp (CBS.N) appears to be in
the strongest position due to its outperformance on the ratings front," the
firm wrote. "However, even with the stability of CBS's schedule, we anticipate
that all of the major broadcast networks will receive fewer upfront
commitments."

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0930 ET 20May2009-Markets open higher on economic optimism
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Major U.S. indexes opened higher on Wednesday, as investors remained
optimistic that the worst of the slowdown was abating.

Also lifting sentiment was Bank of America Corp (BAC.N), which raised
$13.47 billion through a sale of its shares, moving towards meeting government
requirements for capital raising.

The Dow Jones industrial average .DJI rose 0.6 percent to 8,529.64 while
the S&P 500 .SPX gained 0.3 percent to 911.23 and the Nasdaq .IXIC was up
0.5 percent to 1,743.60.

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