Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]
0742 ET 14May2009-Several banks sue MBIA after restructuring
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A number of banks, including Citigroup (C.N), JPMorgan Chase (JPM.N) and
Barclays Plc (BARC.L) (BCS.N), have sued MBIA Inc (MBI.N), charging that the
bond insurer illegally restructured its operations by moving $5 billion of
assets and leaving a key unit effectively insolvent.
For details, see [ID:nN13428345]
Shares of MBIA fell 11 percent to $5.07 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0737 ET 14May2009-Futures edge lower after Wal-Mart results
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U.S. index futures edged lower on Thursday, following the release of
quarterly results from Wal-Mart Stores (WMT.N) that showed flat profit.
Investors were also looking ahead to weekly jobless data and producer price
data for April.
For details, see [ID:nN14460736]
Dow Jones industrial average futures DJc1 fell 43 points while S&P 500
futures SPc1 slid 4.1 points and Nasdaq 100 futures NDc1 were down 1.75
points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0728 ET 14May2009-Wal-Mart Q1 profit in line with consensus
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Wal-Mart Stores (WMT.N) on Thursday reported first-quarter earnings that
were in line with expectations while sales edged 0.6 percent lower.
The company also gave a second-quarter outlook of 83 cents to 88 cents a
share.
For details, see [ID:nN14463262]
The stock, a Dow component, slid 0.7 percent to $49.70 in premarket
trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0722 ET 14May2009-GM, Chrysler to drop as many as 3,000 dealers
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General Motors Corp GM.N and Chrysler are looking to drop as many as
3,000 U.S. dealers, according to three people briefed on the plans, which are
still being developed. The companies are expected to begin sending
notifications as early as Thursday.
GM, facing a U.S. government-imposed deadline of June 1 to restructure or
file for bankruptcy, is expected to send termination notices to up to 2,000
dealers -- a third of its roughly 6,000 U.S. dealers, the sources told
Reuters.
For details, see [ID:nN13426331]
The stock, a Dow component, rose 1 cent to $1.22 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0716 ET 14May2009-Sony sees a second year of losses
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Electronics company Sony Corp (SNE.N) forecast a second straight year of
losses as the recession weighs on demand for consumer electronics.
The company also said it would close 14 percent of its 57 manufacturing
sites this year, slightly more than previously announced.
For details, see [ID:nT305312]
U.S.-listed shares of the company closed Wednesday at $25.85.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0709 ET 14May2009-DigitalGlobe IPO priced above expected range
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The initial public offering for satellite image company DigitalGlobe Inc
(DGI.N) was priced at $19 a share late Wednesday, above the estimated range,
according to a source familiar with the matter.
The company sold 14.7 million shares, according to the source, raising
$279.3 million in a deal led by underwriters Morgan Stanley (MS.N) and JPMorgan
(JPM.N). The price estimate range had been $16 to $18. [ID:nN13434198]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0702 ET 14May2009-IBM affirms outlook for 2009 and 2010
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Tech company IBM (IBM.N) late Wednesday affirmed its earnings outlook for
both 2009 and 2010, saying its focus on high-margin software and its geographic
diversity would help buffer the impact of a weak economy.
The company is still targeting earnings of around $10 to $11 a share for
2010, comapred with the analyst consensus of full-year profits of $9.90 a
share. [ID:nN13385548]
Shares of the company, a Dow component, closed Wednesday at $102.26.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0656 ET 14May2009-Economic indicators for May 14
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Economic indicators on tap for Thursday include weekly jobless claims, PPI
inflation data, producer price data, both for April.
For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0650 ET 14May2009-Earnings diary for May 14
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Companies scheduled to report quarterly results on Thursday include: Kohl's
Corp (KSS.N), Nordstrom (JWN.N), Wal-Mart Stores (WMT.N), Agilent Tech (A.N)
and Compuware Corp (CPWR.O), among others.
For details, see [RESF/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
