Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
1221 ET 24March2009-Markets fall on profit-taking, energy weakness
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Major U.S. indexes fell on Tuesday as investors took profits from Monday's
strong session and a fall in the price of crude oil pressured energy shares.
The declines were not unexpected after Monday's surge of about 7 percent,
analysts said. The advance came after the U.S. detailed a plan to stabilize the
economy.
For details, see [ID:nN24347367]
The Dow Jones industrial average .DJI fell 0.8 percent to 7,716.92 while
the S&P 500 .SPX lost 1 percent to 815 and the Nasdaq .IXIC was off 1.7
percent to 1,530.10.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1208 ET 24March2009-Sonic shares drop after results
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Shares of Sonic Corp (SONC.O) fell on Tuesday after the drive-in restaurant
chain reported second-quarter earnings that missed expectations. It also posted
a decline of 3.6 percent in quarterly same-store sales.
For details, see [ID:nBNG409029]
The stock slid 3.1 percent to $8.99. Among other casual dining restaurants,
Buffalo Wild Wings (BWLD.O) fell 2 percent to $36.64, Denny's (DENN.O) lost 3.9
percent to $1.96, Ruby Tuesday (RT.N) was off 5.9 percent to $2.88 and Bob
Evans Farms (BOBE.O) fell 2.2 percent to $22.10.
Sonic reported its results late Monday.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1154 ET 24March2009-Geithner asks for power to take over some firms
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U.S. Treasury Secretary Timothy Geithner on Tuesday told Congress he needs
the authority to step in and shut down institutions like American International
Group (AIG.N) to avoid future government bailouts.
The request was supported by Federal Reserve Chairman Ben Bernanke, who
told Congress that AIG was a poster-child for the need to update regulation.
For details, see [ID:nN24335995]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1139 ET 24March2009-Crude oil falls as dollar strengthens
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May crude futures fell on Tuesday, pressured by a stronger U.S. dollar and
losses in the European and U.S. stock markets.
Also impacting the crude market was the upcoming release of weekly
petroleum data, with a preliminary Reuters poll of eight analysts forecasting
crude supplies rose last week on an increase in crude imports.
For details, see [ID:nSP459944]
The contract fell 1.7 percent to $52.85 while the S&P Energy index .GSPE
was down 1.2 percent to 361.22. Among specific stocks, Exxon Mobil (XOM.N) fell
0.9 percent to $69.92 while ConocoPhillips (COP.N) was down 1.8 percent to
$40.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1131 ET 24March2009-Durable goods orders to fell 2 pct in Feb: poll
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New orders for U.S.-made durable goods likely fell 2 percent in February,
aided by sharp declines in civilian aircraft orders, according to a Reuters
poll.
The 2 percent expectation is the median forecast of 73 economists polled.
Durable good orders fell 4.5 percent in January.
For details, see [ID:nN24335469]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
