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1716 ET 29Jun2009-US STOCKS-Wall St climbs with oil sector, end-of-qtr buys
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U.S. stocks rose on Monday as higher oil prices lifted shares of energy
companies and fund managers snapped up this quarter's winners to burnish their
portfolios.
Energy shares ranked among the quarter's strong performers, and a 3.4
percent jump in the price of oil lifted them even further on Monday. Exxon
Mobil Corp (XOM.N) was the Dow's top driver, rising 2.2 percent to $70.58.
For more please double click [ID:nN29403358]
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1435 ET 29June2009-Apple CEO Steve Jobs returns from medical leave
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Apple Inc (AAPL.O) Chief Executive Steve Jobs is back at work following a
medical leave of nearly six months. He will work at least initially from home
for a few days a week, the company said on Monday.
The official word of his return followed months of speculation about the
health of Jobs, a pancreatic cancer survivor, and his future with the company
he co-founded more than 30 years ago.
Jobs, 54, underwent a liver transplant in Memphis, Tennessee, while on
leave. He has remained involved in strategic decisions at Apple while away,
according to the company, and he has been seen in recent weeks at Apple's
headquarters in Cupertino, California.
For details, see [ID:nN29361531]
Shares of Apple slid 0.2 percent to $142.20.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by
Kenneth Barry
1426 ET 29June2009-DoJ opposes Continental joining Star alliance
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The U.S. Justice Department opposes broad antitrust immunity for
Continental Airlines Inc (CAL.N) to join UAL Corp's (UAUA.O) United Airlines
and other members of the Star alliance, documents showed.
In a filing late on Friday with the Transportation Department, antitrust
enforcers said approval is likely to harm competition on some international
routes, including flights between U.S. cities and Canada and China.
The proposed agreements also could harm domestic competition and raise
fares on some routes, Justice Department lawyers wrote in public comments.
For details, see [ID:nN29388061]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1410 ET29JUne2009-Raymond James ups four healthcare IT companies
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Healthcare information technology stocks rose on Monday after a broker
upgrade of four stocks in the sector, in order to reflect a twenty times
price-to-earnings multiple for the firm's 2011 estimates.
Allscripts-Misys Healthcare Solutions Inc (MDRX.O), Cerner Corp (CERN.O),
Eclipsys Corp (ECLP.O) and Computer Program and Systems Inc (CPSI.O) were
upgraded to "outperform" from "market perform" by Raymond James, which believes
the prospect of federal stimulus will support the target valuation over the
next twelve months.
The firm believes the stimulus will generate positive bookings traction
and, as a result, revenue and earnings growth momentum.
Allscripts shares jumped 11.9 percent to $16.49, Cerner added 3.4 percent
to $63.71, Eclipsys rose 1.9 percent to $18.39 and Computer Program climbed 4.3
percent to $39.79.
Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1215 ET 29June2009-DA Davidson: Entering healthy bull market
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DA Davidson said on Monday it strongly believed that the markets were in
the early stages of a "healthy bull market."
"Investor confidence continues to rise as does consumer confidence, both of
which are key ingredients to sustaining a recovery and stabilizing the
economy," the company's analysts wrote. "We now envision the major stock market
indices, which are positive year to date for most market indices, to end the
year with high single-digit or low double-digit percentage gains."
The company added that it was looking for the economy to bottom out late in
the third quarter or early in the fourth quarter "as consumers slowly return to
the malls, business investment spending stabilizes and companies begin to
replenish inventories.
"The economy hasn't turned up, but the pace of employment layoffs, the
decline in existing home sales and home prices appear to be stabilizing, while
new and used automobile sales have begun to slowly improve," it wrote.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
