Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
1700 ET 08Apr2009-U.S. earnings diary for April 9
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Among companies expected to report quarterly results on Thursday, oil
producer Chevron Corp (CVX.N) is expected to report its interim first-quarter
results.
For more details, see [RESF/US].
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1629 ET 08Apr2009-Insurer aid, tech boost lifts Wall St
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U.S. stocks finished higher on Wednesday, breaking a two-day slide, after
the government set out plans to shore up life insurers, while solid results of
retailer Bed Bath & Beyond (BBBY.O) boosted spending optimism.
A rise in technology shares also cushioned the market.
For more details, see [.N]
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1435 ET 08April2009-Websense advances after FBR upgrade
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Friedman Billings Ramsey on Wednesday upgraded Websense Inc (WBSN.O) to
outperform from market perform, saying the company's "product strategy, strong
channel focus, and relatively low average selling price give us comfort that
Websense can navigate through this storm with its ship still intact."
FBR also wrote that it expects a "good enough" June outlook for most
security software companies because of improved pipelines and a pickup in deal
activity. [ID:nBNG440180]
Shares of Websense advanced 16 percent to $15.26.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1413 ET 08April2009-Stocks cut gains after release of Fed minutes
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Major U.S. indexes pares their gains on Wednesday, after the release of the
minutes of the Federal Reserve's recent policy meeting showed that officials
saw the economy deteriorating.
For details, see [ID:nN08536303]
The Dow Jones industrial average .DJI rose 0.5 percent to 7,828.82 while
the S&P 500 .SPX gained 0.8 percent to 822.37 and the Nasdaq .IXIC was up
1.4 percent to 1,583.22.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1153 ET 08April2009-UBS cuts targets on oil and gas companies
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UBS on Wednesday cut its price target on a number of oil and gas companies,
seeing lower prices for oil and NYMEX natural gas in 2009 and 2010.
As part of its call, the firm downgraded ConocoPhillips (COP.N) to neutral
from buy, and dropped its price target to $42 from $56.
The company's "upstream production is expected to remain flat over the next
five years, which compares poorly amongst it integrated peers and should do
little to improve its relative valuation," UBS wrote. "While we recognize that
a rise in crude oil prices could help ConocoPhillip's absolute valuation, we
believe investors would gravitate to its 'growthier' peers or play the more
leveraged exploration and production companies."
The firm also cut its target on National Fuel Gas co (NFG.N) to $36 from
$39, on Newfield Exploration (NFX.N) to $38 from $40 and on El Paso Corp (EP.N)
to $12 from $14. [ID:nWNAB1977]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
