STOCKS NEWS US-DoJ opposes Continental joining Star alliance
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For U.S. stock market report double-click [.N] 1426 ET 29June2009-DoJ opposes Continental joining Star alliance ------------------------------------------------------------------------------
The U.S. Justice Department opposes broad antitrust immunity for Continental Airlines Inc (CAL.N) to join UAL Corp's (UAUA.O) United Airlines and other members of the Star alliance, documents showed.
In a filing late on Friday with the Transportation Department, antitrust enforcers said approval is likely to harm competition on some international routes, including flights between U.S. cities and Canada and China.
The proposed agreements also could harm domestic competition and raise fares on some routes, Justice Department lawyers wrote in public comments.
For details, see [ID:nN29388061]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1410 ET29JUne2009-Raymond James ups 4 Healthcare IT companies ------------------------------------------------------------------------------
Healthcare information technology stocks rose on Monday after a broker upgrade of four stocks in the sector, in order to reflect a twenty times price-to-earnings multiple for the firm's 2011 estimates.
Allscripts-Misys Healthcare Solutions Inc (MDRX.O), Cerner Corp (CERN.O), Eclipsys Corp (ECLP.O) and Computer Program and Systems Inc (CPSI.O) were upgraded to "outperform" from "market perform" by Raymond James, which believes the prospect of federal stimulus will support the target valuation over the next twelve months.
The firm believes the stimulus will generate positive bookings traction and, as a result, revenue and earnings growth momentum.
Allscripts shares jumped 11.9 percent to $16.49, Cerner added 3.4 percent to $63.71, Eclipsys rose 1.9 percent to $18.39 and Computer Program climbed 4.3 percent to $39.79.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net 1352 ET 29June2009-SLM Corp rises after FBR raises price target ------------------------------------------------------------------------------
Shares of SLM Corp (SLM.N) rallied on Monday after FBR Capital Markets
raised its price target on the company to $16 from $13, citing improving
student loan spreads and the earnings potential from the company's recent
servicing contract with the Department of Education. It reiterated its
"outperform" rating.
The brokerage, which also raised its 2009 earnings estimates for the company to $1.18 a share from $1.02, said it expects the contract to add 13 cents a share to the company's earnings.
For details, see [ID:nBNG503175]
Shares of SLM rose 10.9 percent to $10.28.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1222 ET 29June2009-KBW starts coverage of Berkshire Hathaway ------------------------------------------------------------------------------
Keefe, Bruyette & Woods on Monday started coverage of Berkshire Hathaway
(BRKa.N) with an "outperform" rating, calling the company "a myriad collection
of high quality businesses, particularly in insurance and reinsurance, with
attractive long-term growth prospects.
"Despite negative marks in its derivative portfolio, the recent global financial turmoil has left Berkshire standing tall as one of the world's few financially sound institutions," Keefe, Bruyette & Woods added.
The stock of Berkshire, run by billionaire investor Warren Buffett, rose 1.5 percent to $87,498 on Monday.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1215 ET 29June2009-DA Davidson: Entering healthy bull market ------------------------------------------------------------------------------
DA Davidson said on Monday it strongly believed that the markets were in the early stages of a "healthy bull market."
"Investor confidence continues to rise as does consumer confidence, both of which are key ingredients to sustaining a recovery and stabilizing the economy," the company's analysts wrote. "We now envision the major stock market indices, which are positive year to date for most market indices, to end the year with high single-digit or low double-digit percentage gains."
The company added that it was looking for the economy to bottom out late in the third quarter or early in the fourth quarter "as consumers slowly return to the malls, business investment spending stabilizes and companies begin to replenish inventories.
"The economy hasn't turned up, but the pace of employment layoffs, the decline in existing home sales and home prices appear to be stabilizing, while new and used automobile sales have begun to slowly improve," it wrote.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
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