Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]
0722 ET 20May2009-Economic optimism lifts stock futures
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U.S. index futures were up on Wednesday, lifted on the hope
that the worst of the economic slowdown was abating.
Also raising sentiment was Bank of America (BAC.N), which
late Tuesday raised money through a sale of its shares, moving
towards meeting government requirements for capital raising.
For details, see [ID:nN20487431]
Dow Jones industrial average futures DJc1 rose 95 points
while S&P 500 futures SPc1 gained 2.6 points and Nasdaq 100
futures NDc1 were up 2 points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0716 ET 20May2009-BofA raises $13.47 billion in share sale
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Bank of America Corp (BAC.N) late Tuesday raised $13.47
billion in a share sale, in a move to meet the U.S.
government's requirements for capital raising.
The bank issued 1.25 billion shares at an average price of
$10.77 each since last Friday.
For details, see [ID:nN19416813]
Shares of the Dow component rose 2.7 percent to $11.55 in
premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0707 ET 20May2009-GM proposal to outsource causing problems
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A proposal by General Motors Corp GM.N to close factories
and ship some production overseas has become a "real problem"
in negotiations with auto workers on concessions, two U.S.
lawmakers said late Tuesday, though they added that changes in
the company's business plan were possible.
Senator Carl Levin believes the Obama administration task
force overseeing GM's restructuring would like the company and
the United Auto Workers to reach a deal, rather than force a
government-imposed solution.
"I think it's a real problem but I hope the UAW can
negotiate it," Levin told Reuters "If they can't, it will be up
to the White House as to whether they accept a GM plan which
has a reduction of the kind we're talking about."
For details, see [ID:nN19459977]
Shares of GM rose 1 cent to $1.28 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0702 ET 20May2009-Microsoft may unveil new search engine: WSJ
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Microsoft Corp (MSFT.O) may show a new version of its
Internet search engine publicly for the first time next week,
according to a report in the Wall Street Journal.
The engine could be unveiled at the "D: All Things Digital"
conference.
The software company has been testing a new version of the
service internally.
For details, see [ID:nBNG414490]
Shares of the Dow component rose 0.8 percent to $20.48 in
premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0657 ET 20May2009-HP tempers revenue outlook, to cut jobs
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Dow component Hewlett-Packard Co (HPQ.N) late Tuesday gave
a disappointing full-year revenue outlook and said it would be
cutting 2 percent of its work force. The job cuts amount to
about 6,400 jobs.
The news came as customers and businesses cut their
spending on technology because of the recession.
For details, see [ID:nN19414562]
Shares of Hewlett-Packard fell 4 percent to $35.10 in
premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0654 ET 20May2009-Economic indicators for May 20
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Economic indicators on tap for Wednesday include weekly MBA
purchase data and weekly refinancing figures.
For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0650 ET 20May2009-Earnings diary for May 20
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Companies scheduled to report quarterly results on
Wednesday include: Limited Brands (LTD.N), Target Corp (TGT.N),
Deere & Co (DE.N), Intuit (INTU.O), Computer Sciences Corp
(CSC.N) and NetApp Inc (NTAP.O), among others.
For details, see [RESF/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
