Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
0719 ET 25March2009-Yum! Brands buys 20 pct stake in Chinese chain
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Restaurant operator Yum! Brands (YUM.N) agreed to buy a roughly 20 percent
stake in the Chinese hot-pot chain operator Little Sheep for about $63 million,
or HK$2.40 a share, an 8.4 percent discount to its Tuesday close.
[ID:nSEO129450]
Shares of Yum! closed Tuesday at $28.33.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0716 ET 25March2009-JPMorgan resumes coverage on AmEx at underweight
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JPMorgan resumed coverage on credit card company American Express (AXP.N)
with an underweight rating and $10.50 price target. It said the company would
face ongoing declines in its billed business, and significant increases in
charge-offs well into 2010.
The firm also said that American Express wouldn't need additional common
equity to support capital. [ID:nWNAB7104]
Shares of AmEx, a Dow component, slid 3 cents to $13.87 in premarket
trade.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0713 ET 25March2009-FedEx may cancel Boeing orders if law passes: WSJ
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Shipping company FedEx Corp (FDX.N) is threatening to cancel the purchase
of billions of dollars worth of new Boeing (BA.N) cargo planes if Congress
passes a law that would make it easier for unions to organize at FedEx, the
Wall Street Journal reported.
The company may cancel plans to buy as many as 30 new Boeing planes, the
paper reported, citing a company spokesman. [ID:nBNG438478]
Shares of FedEx closed Tuesday at $43.57 while shares of Boeing, a Dow
component, closed at $36.10.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0707 ET 25March2009-Bove starts Goldman Sachs at hold
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Rochdale Securities analyst Richard Bove on Wednesday started Goldman Sachs
(GS.N) with a hold rating and $123 price target. He said that some profit
taking in the financial services company's shares was inevitable until its
earnings catch up to its stock price.
Bove added that he expects Goldman to post a profit in every quarter in
2009, and that the long-term outlook for the company was now positive again.
[ID:nWNAB7110]
Shares of Goldman closed Tuesday at $110.60.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0702 ET 25March2009-Economic indicators for March 25
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Economic indicators on tap for Wednesday include: February durable goods
data, new home sales data for February and weekly MBA purchase data.
For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0656 ET 25March2009-Earnings diary for March 25
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Companies scheduled to report quarterly results on Wednesday include:
Paychex (PAYX.O), CKE Restaurants (CKR.N), SAIC Inc (SAI.N), DSW Inc (DSW.N),
New Horizons Worldwide NEWH.O and Green Plains Renewable Energy (GPRE.O),
among others.
For details, see [RESF/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
