Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
1049 ET 09March2009-Markets advance on rising oil prices, tech stocks
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Major U.S. indexes rose modestly on Monday, lifted by a rise in the price
of crude oil, as well as large-cap tech stocks, which rose on positive broker
comments.
For details, see [ID:nN09449968]
The Dow Jones industrial average .DJI rose 0.2 percent to 6,640.72 while
the S&P 500 .SPX gained 0.5 percent to 686.93 and the Nasdaq .IXIC was up
0.2 percent to 1,296.26.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1038 ET 09March2009-Goldman Sachs comments on gaming industry
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WMS Industries (WMS.N) rose on Monday after Goldman Sachs boosted its
rating on the stock, citing a strong showing in its slot survey, as part of a
larger call on the gaming industry.
The firm upgraded the stock to a "buy" from a "neutral" while lowering its
rating on International Game Technology (IGT.N) to a "neutral" from a "buy"
based on the same slot survey.
Goldman also added Penn National Gaming (PENN.O) to its Conviction Buy list
with a $22 price target on the belief that regional gaming markets are showing
signs of stabilizing, in place of Bally Technologies (BYI.N), which will still
retain its "buy" rating.
The firm also reduced its 12-month price targets on MGM Mirage (MGM.N) to
$1 from $11 and on Wynn Resorts (WYNN.O) to $23 from $26 per share.
Shares of WMS Industries rose 5.6 percent to $16.91 while Penn National
gained 6.3 percent to $18.17 and Bally Technology climbed 4 percent to $14.01.
Wynn Resorts added 6.3 percent to $16.37 and MGM Mirage jumped over 15
percent to $2.29 despite the reduced price targets. International Game Tech
slid 3.4 percent to $7.22.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1026 ET 09March2009-UBS sees more airline capacity cuts soon
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UBS on Monday said that cash levels at U.S. airlines were uncomfortably
low, and that it expects the group to announce further capacity cuts as soon as
next week.
"None of the airlines have a liquidity issue," the firm wrote, "but a
materially worse revenue environment combined with stable fuel prices and
continued closed credit markets could challenge this view."
The firm expects AMR Corp (AMR.N) and UAL Corp (UAUA.O) to post losses in
2009. The companies are the parents of American Airlines and United Airlines,
respectively. [ID:nBNG490697]
The AMEX Airline Index .XAL rose 1.8 percent to 13.26 on Monday, while
AMR surged 15 percent to $2.94 and UAL advanced 9.6 percent to $4.31.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
