Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
1058 ET 27March2009-Online retailers down after Goldman move on AMZN
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Shares of online retailers fell on Friday, after Goldman Sachs removed
Amazon.com Inc (AMZN.O) from its conviction buy list.
The firm cited Amazon's share price in its move, noting that it was down 11
percent since May 2008, when Goldman added Amazon to its conviction list. The
S&P 500 .SPX has tumbled 42 percent over that same time. [ID:nBNG76815]
Shares of Amazon shed 3.7 percent to $70.95 while Overstock.com (OSTK.O)
lost 2.7 percent to $10.56, online auction site eBay Inc (EBAY.O) slid 2.8
percent to $12.74 and luxury online retailer Blue Nile (NILE.O) fell 1.3
percent to $32.93.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1048 ET 27March2009-Morgan Stanley tops list of M&A advisors: TR data
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Morgan Stanley (MS.N) topped a list of ranked global advisors for mergers
and acquisitions, according to Thomson Reuters data.
The financial services company, which placed 10th a year ago, was lifted by
two large pharmaceutical deals: advising Wyeth WYE.N in its acquisition by
Pfizer (PFE.N) and advising Schering-Plough SGP.N in its takeover by Merck &
Co (MRK.N).
For details, see [ID:nN26522954]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1035 ET 27March2009-Citi expects weak Q1 earnings for tobacco cos
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Citi on Friday said it expects tobacco companies Altria Group (MO.N) and
Reynolds American (RAI.N) to post results below expectations in their first
quarter, saying that a large de-stocking by wholesalers and retailers means
manufacturers will have made few shipments in the last two weeks of March.
"We expect this issue to cause short-term weakness," the firm wrote. "In
addition to the weak earnings we expect for Altria and Reynolds, the predicted
large volume declines will suggest that the elasticity has worsened
significantly, and that the pricing mechanism is not compensating."
Despite this, Citi expects that weakness in the first quarter would be made
up for by "unusually strong second-quarter volumes."
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1021 ET 27March2009-Markets slide on continued profit-taking
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Major U.S. indexes fell on Friday, dropping on continued profit-taking
after a recent surge in the markets.
For details, see [ID:nN271067]
The Dow Jones industrial average .DJI fell 1.7 percent to 7,794.73 while
the S&P 500 .SPX lost 1.7 percent to 818.13 and the Nasdaq .IXIC was off
1.8 percent to 1,559.05.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
