Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]
0715 ET 02Feb2009-Oil slides below $41/ barrel on demand worries
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March crude futures fell on Monday as the deepening economic recession
weighed on demand in the United States, the world's largest oil consumer.
On Friday, a report from the U.S. Energy Information Agency showed that
U.S. oil demand was 305,000 barrels per day less than was previously estimated.
[ID:nSYD119442]
The contract fell 2.9 percent to $40.46.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0709 ET 02Feb2009-Roche confident that Genentech deal with close
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Pharmaceutical company Roche (ROG.VX) on Saturday said it was confident it
would be successful in its bid for Genentech DNA.N, after recently launching
a hostile bid for the company.
In the bid, Genentech was valued at $42 billion. A previous bid by Roche
valued the pharmaceutical company at $44 billion. [ID:nLV148726]
Shares of Genentech closed Friday at $81.24.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0705 ET 02Feb2009-Sears to cut 4.3 pct of work force
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Department store operator Sears Holding (SHLD.O) late Friday said it would
cut 300 corporate workers, or 4.3 percent of its work force, in a move to
combat falling consumer spending.
The company didn't say how much it hoped to save with the layoffs, or
whether it was planning additional cuts in the future. [ID:nN30334084]
Shares of Sears closed Friday at $40.92.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0658 ET 02Feb2009-Barclays: Ford may need gov cash in late 2009
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Barclays Capital on Monday said Ford may need access to U.S. government aid
in late 2009, downgrading the stock to underweight from equal weight and
dropping the price target on the stock to $1 from $4. The firm cited increases
in Ford's net debt, as well as cash concerns.
Ford recently said it would have enough cash to survive the current
economic downturn without any aid. [ID:nBNG413110]
Barclays also cut its target on peer company General Motors GM.N to 50
cents from $1, seeing a fourth-quarter loss for the Dow component.
Shares of Ford fell 7 cents to $1.80 in premarket trade on Monday while GM
shares closed Friday at $3.01.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0651 ET 02Feb2009-Economic indicators for Feb. 2
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Economic indicators on tap for Monday include December consumption data,
core PCE price index information, December U.S. personal income figures,
December construction spending data and January ISM manufacturing information.
For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0646 ET 02Feb2009-Earnings diary for Feb. 2
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Companies scheduled to report quarterly results on Monday include: Rockwell
Automation (ROK.N), SYSCO Corp (SYY.N), Aflac Inc (AFL.N), Anadarko Petroleum
Corp (APC.N), Humana Inc (HUM.N), Mattel MAT.N, Plum Creek Timber (PCL.N) and
SanDisk Corp (SNDK.O)
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
