Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
0954 ET 24Mar2009 ANALYSIS-The latest U.S. stocks rally may have momentum
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The long-awaited U.S. government plan to rid banks of money-losing assets
has injected some desperately needed optimism into Wall Street after stocks hit
12-year lows earlier this month.
Judging by the 20 percent run-up in the benchmark S&P 500 index .SPX
since its March 9 bear-market closing low, there appears to be a burgeoning
consensus that some confidence may be returning to the marketplace.
For the complete analysis, see [ID:nN24640314]
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
0941 ET 25March2009-DryShips results weigh on stock, peers rise
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Shares of DryShips Inc (DRYS.O) fell on Wednesday, after the shipping
company reported adjusted fourth-quarter earnings that missed expectations. It
also said it remained in discussions with some of its lenders concerned current
breaches of loan covenants.
For details, see [ID:nBNG429680]
Shares of DryShips slid 7.8 percent to $5.10 while among its peers,
Alexander & Baldwin AXB.N rose 2 percent to $19.29, Kirby (KEX.N) gained 1.1
percent to $26.07 and Horizon Lines (HRZ.N) added 1.4 percent to $3.61.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0930 ET 25March2009-Markets open higher on signs of economic thaw
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Major U.S. indexes rose on Wednesday, lifted after President Barack Obama
said he was seeing some signs of progress in efforts to pull the economy out of
recession. Sentiment was also lifted after orders for durable goods
unexpectedly rebounded in February.
The Dow Jones industrial average .DJI rose 0.4 percent to 7,695.73 while
the S&P 500 .SPX gained 0.5 percent to 810.25 and the Nasdaq .IXIC was up
0.7 percent to 1,527.59.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0911 ET 25March2009-Citi raises targets on semiconductor co's
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Citi on Wednesday raised its price targets on several companies in the
semiconductor sector, citing "the general improvement in semiconductor
conditions since Chinese New Year."
"With the bottom established in the first quarter of 2009, improving
comparisons in the first quarter of 2010, and a bias for upward revisions, we
advocate building positions in chip stocks," it wrote.
Citi raised its targets on Cypress Semiconductor CY.N Intel (INTC.O) and
Micron Tech (MU.N).
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0858 ET 25March2009-M. Stanley to announce deal with Mitsubishi UFJ
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Morgan Stanley (MS.N) and Mitsubishi UFJ Financial are set to announce a
merger of their securities businesses in Japan this week, a source said.
The two have been in talks to merge their brokerage and investment banking
units in Japan since Mitsubishi injected $9 billion into Morgan Stanley in
October.
For details, see [ID:nT320156]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0849 ET 25March2009-HSBC to cut 1,200 jobs in Britain
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HSBC Holdings (HSBA.L) (HBC.N) on Wednesday said it was cutting about 1,200
jobs in Britain, while a union representing the bank's staff said that changes
the bank was looking to make would result in 2,900 jobs being lost.
The bank also said it expects the operating environment for the banking
industry would remain "extremely challenging" for some time.
For details, see [ID:nLP185826]
U.S.-listed shares of HSBC slid 3.1 percent to $27.72 in premarket trade.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
