Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]
1222 ET 30Apr2009-Market trims gains as Chrysler bankruptcy looms
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U.S. stocks pared gains on Thursday after an Obama administration official
said beleaguered U.S. automaker Chrysler LLC will file for bankruptcy
protection in New York "almost immediately."
"People are stepping to the side, just wanting to see what this Chrysler
bankruptcy looks like," said Angel Mata, managing director of listed equity
trading at Stifel Nicolaus Capital Markets in Baltimore.
"When you have a major American company declaring bankruptcy, people just
want to see what the nature of that bankruptcy is."
For more details, see [.N]
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1146 ET 30April2009-Starbucks soars after Q2 results, ad campaign
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Shares of Starbucks Corp advanced on Thursday, rising after the
coffee store chain reported adjusted second-quarter results that topped
expectations. It also said it was planning a multimillion dollar ad campaign
designed to challenge the view that its coffee is an expensive luxury.
For details, see [nN29448457]
The stock gained 10.2 percent to $15.08. Among other companies, Peets
Coffee added 4.1 percent to $27.75 and Caribou Coffee rose
11.3 percent to $4.05. Dow component McDonald's , which has marketed its
coffee products as a cheaper alternative to Starbucks, was down 0.5 percent to
$54.12. Fellow drink chain Jamba was down 2.5 percent to 75 cents.
Green Mountain Coffee shares surged 41 percent to $74.38 after the
company reported quarterly results that beat estimates and said it entered into
a distribution pact with Wal-Mart Stores wherein Wal-Mart will
distribute Keurig coffee brewers in more than 3,000 of its stores.
[nBNG490765]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1141 ET 30April2009-Eastman Kodak loss widens, dividend suspended
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Shares of Eastman Kodak fell on Thursday, dropping after the image
technology company reported a quarterly loss that was wider than expected and a
drop of 29 percent in its revenue.
The former Dow component also suspended its dividend, which had been in
place for about 60 years.
For details, see [nN30493794]
The stock slid 3.3 percent to $3.52.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1134 ET 30April2009-Hotel companies rise after Starwood results
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Shares of hotel companies gained on Thursday, after Starwood Hotels &
Resorts Worldwide reported adjusted first-quarter results that easily
beat expectations as cost-cutting measures offset lower demand.
For details, see [nN30491671]
Shares of Starwood rose 3.3 percent to $21.38 while Marriott International
gained 4.3 percent to $23.83 and Choice Hotels added 3.7
percent to $29.20. Sunstone Hotel shot up 17 percent to $5.29.
Earlier on Thursday, JPMorgan upgraded the company's stock two notches to
"overweight" from "underweight", citing improved sentiment in the lodging
sector. [nBNG504130]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1112 ET 30April2009-Skechers, Timberland rise after results
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Shares of shoe makers Skechers USA and Timberland Co rose
on Thursday after the companies posted first-quarter earnings that topped Wall
Street's forecasts.
Skechers reported first-quarter earnings of 18 cents a share, aided by a
reduction in inventory and lower operating expenses, which was above analysts'
views calling for a loss of 4 cents a share, according to Thomson Reuters
estimates. [nBNG490868]
Timberland posted first-quarter earnings of 27 cents a share, which beat
Wall Street's estimates of 16 cents, although the company said the current
economic conditions do not give sufficient visibility for it to give guidance.
Skechers shares surged 26.2 percent to $11.94 while Timberland shares
gained 8.9 percent to $17.24.
Reuters Messaging: Charles.mikolajczak.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
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