STOCKS NEWS US-Markets rise on retailers, home builders

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1045 ET 25June2009-Markets rise on retailers, home builders
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Major U.S. indexes rose on Thursday, lifted by strength in
the retail and homebuilding sectors, though sentiment was
pressured by an unexpected rise in initial jobless claims.

For details, see [ID:nN25268160]

The Dow Jones industrial average .DJI rose 0.5 percent to
8,342.18 while the S&P 500 .SPX gained 0.7 percent to 906.76
and the Nasdaq .IXIC was up 0.9 percent to 1,808.29.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1023 ET 25Jun2009-S&P 500's 910 level seen a critical hurdle
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Phase one to neutralizing the short-term downtrend is
tentatively in place, but to change the trend drastically, the
benchmark S&P 500 index .SPX needs to push and hold above the
910.85 level, technical strategists at Instinet said on
Thursday.

"Yesterday the SPX stalled out twice near the 10-day
downtrend line and that's the first key short-term hurdle today
(currently at 907)," the analysts wrote in a note.

Reuters Messaging
rm://ellis.mnyandu.reuters.com@reuters.net
1025 ET 25June2009 Akamai attracts put sellers, analyst
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Shares of Web content delivery service company Akamai
Technologies Inc (AKAM.O) rose 1.2 percent to $19.76 in morning
trade. In the option patch, the February 2010 puts at the $15
line traded 6,472 contracts compared to 2 contracts of open
interest, Reuters data show. The top trade of the day was 5,372
contracts on the bid for a premium of $1.40 in that strike. It
looked like opening put sellers might be initiating the early
trades, said WhatsTrading.com option strategist Frederic Ruffy.
There was no apparent news on the stock. Akamai was also the
subject of bullish order flow on Monday, he said. Put selling
is viewed as a neutral to bullish strategy.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
0949 ET 25June2009-Homebuilders rise on Lennar results, outlook
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Shares of homebuilders rose on Thursday, after Lennar Corp
(LEN.N) reported its second-quarter results and forecast a
sequential rise in new home sales and orders.

"While we are sensing pent-up demand in the market, rising
unemployment, increased foreclosures and tighter credit
standards continue to present challenges for the industry," CEO
Stuart Miller said in a statement.

For details, see [ID:nBNG21059]

Shares of Lennar rose 12.9 percent to $8.83 while the Dow
Jones U.S. Home Construction index .DJUSHB gained 3.2 percent
to 212.64. Among other companies, Toll Brothers (TOL.N) added
2.4 percent to $16.63, Beazer Homes (BZH.N) climbed 6.8 percent
to $1.88 and D.R. Horton (DHI.N) added 1.6 percent to $9.28.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0944 ET 25June2009-Citigroup starts coverage on Alcoa at buy
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Citigroup on Thursday started coverage on Alcoa Inc (AA.N)
with a buy rating and $14 price target. The firm cited an
expected manufacturing recovery and easing output costs in its
decision.

"Citi economists expect U.S. industrial production to grow
by 0.7 percent in 2010," the firm wrote. "Yet, signs of a near
term manufacturing recovery are evident with the May ISM PMI
pointing to new orders growth, the first in 17 months.

"Transportation, which drove 37 percent of aluminum demand
in 2008, should provide a demand tailwind as US auto sales
improve to an estimated to 12.9 million units (18 percent
growth year-over-year) in 2010."

Shares of Alcoa, a Dow component, rose 1.6 percent to
$10.38.

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