STOCKS NEWS US-Sallie Mae shares surge after comments
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U.S. stock market report [.N] 1013 ET 21Oct2009-Sallie Mae shares surge after comments ------------------------------------------------------------------------------
Shares of SLM Corp (SLM.N) rallied on Wednesday after the student loan provider said its earnings should rise in 2010.
The company sees profit growth on lower loan loss provisions and stabilization in credit markets.
For details, see [ID:nN21183319]
The stock climbed 20 percent to $10.65.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1010 ET 21Oct2009-Northern Trust shares slump as results miss ------------------------------------------------------------------------------
Northern Trust Corp (NTRS.O) shares fell 5.6 percent to $54.26 on Wednesday after the bank posted third quarter results that fell short of expectations even as it swung to a profit.
The company, which offers private banking, investment management and global custody services, said net income was $187.9 million, or 77 cents a share, compared with a loss of $148.3 million, or 66 cents per share, a year earlier. Analysts had expected earnings of 84 cents per share. For more, see [ID:nN20459542] Reuters Messaging:rm://Edward.Krudy.reuters.com@reuters.net 1000 ET 21Oct2009-Freeport-McMoran shares rise after results ------------------------------------------------------------------------------
Shares in miner Freeport-McMoran Copper & Gold Inc (FCX.N) rose 0.8 percent to $79.24 on Wednesday after the company said third-quarter profit soared on higher metal prices and greater volumes from its vast Grasberg mine in Indonesia.
Freeport increased its copper and gold production targets for full-year 2009 and said its board has reinstated an annual cash dividend on its common stock, with a quarterly dividend of 15 cents per share expected to be paid next Feb. 1. For more, see [ID:nN19375047] Reuters Messaging:rm://Edward.Krudy.reuters.com@reuters.net 0945 ET 21Oct2009-Wall St edges up, led by tech shares ------------------------------------------------------------------------------
U.S. stocks rose on Wednesday, with Dow and S&P 500 indexes erasing losses at the open, on the strength of technology shares.
The Dow Jones industrial average .DJI rose 13.23 points, or 0.13 percent, at 10,054.71. The Standard & Poor's 500 Index .SPX was up 1.70 points, or 0.16 percent, at 1,092.76. The Nasdaq Composite Index .IXIC added 7.50 points, or 0.35 percent, at 2,170.97.
For details, see [ID:nN21486692] 0922 ET 21Oct2009-Crude stockpiles seen up in latest week: POLL ------------------------------------------------------------------------------
U.S. crude inventories were seen rising last week, as imports rebounded from a sharp decline the week before, according to a new Reuters poll.
The poll sees crude stockpiles rising by 1.8 million barrels on average, with only one analyst predicting a stock drawdown.
For details, see [ID:nN20456316]
December crude futures are currently down 1 percent to $78.36 per barrel.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0914 ET 21Oct2009-Mortgage applications fall in latest week-MBA ------------------------------------------------------------------------------
U.S. mortgage applications fell for a second straight week, led by a decline in demand for home refinancing loans as interest rates climbed, according to data from the Mortgage Bankers Association.
The MBA said on Wednesday its seasonally adjusted index of mortgage applications USMGM=ECI, which includes both purchase and refinance loans, for the week to Oct. 16 decreased 13.7 percent to 641.0, its lowest since the week ended Sept. 11.
For details, see [ID:nN21482724]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
