STOCKS NEWS US-Citi starts Visa at hold, MasterCard at sell

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]

U.S. stock market report [.N]
0837 ET 23Jan2009-Citi starts Visa at hold, MasterCard at sell
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Citigroup on Friday started coverage on credit card companies Visa Inc
(V.N) and MasterCard (MA.N), rating them hold and sell, respectively. It also
recommended that investors go long on Visa and sell Dow component American
Express (AXP.N) as a pair-trade idea.

"While we are positive on the business models longer term, we believe the
companies will face headwinds from decelerating consumer spending due to the
global recession and deleveraging by the U.S. consumer," the firm wrote.
[ID:nBNG403083]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0819 ET 23Jan2009-FBR cuts targets on three bank holding co's
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Friedman Billings Ramsey on Friday cut its price targets on three bank
holding companies, expecting the three to see further credit deterioration and
weaker revenue trends.

The firm cut its target on TCF Financial (TCB.N) by $5 to $9 and its 2009
earnings outlook by 95 cents a share to 30 cents a share. It expects the
company to cut its dividend in the third quarter of 2009. [ID:nWNAB2895]

FBR cut its target on Synovus Financial (SNV.N) by half, dropping it to $4.
It also forecast a loss of $2.70 a share for the company in 2009, compared with
a prior view of a loss of 20 cents a share. The firm said it would be hard for
the company to maintain its already reduced dividend of 6 cents.
[ID:nWNAB2874]

Friedman also cut its price target on City National (CYN.N) by $13 to $27,
and sees 2009 earnings of 75 cents a share at the company. It previously saw
earnings of $3.15 a share. [ID:nWNAB2897]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0808 ET 23Jan2009-Crude oil trades lower after Thursday's surge
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March crude futures fell on Friday, following a strong surge late Thursday,
which was prompted by investors betting that the government would move quickly
on an economic stimulus package. [ID:nN22143293]

The contract fell 1.4 percent to $43.05.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0804 ET 23Jan2009-Wal-Mart successful in D&S tender offer: paper
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Wal-Mart's (WMT.N) tender offer for leading Chilean supermarket chain D&S
DIS.SN DYS.N was successful, according to the newspaper El Mercurio. The
tender offer, which was originally valued at $2.66 billion and included
American Depositary Shares of D&S, closed on Thursday.

With the tender offer, Wal-Mart secured a 55 percent stake in the chain, El
Mercurio reported. [ID:nN23254476]

Shares of Wal-Mart, a Dow component, closed Thursday at $48.87.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0755 ET 23Jan2009-Deutsche Bank cuts targets on Google, Microsoft
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Deutsche Bank on Friday slashed its target on two major companies related
to the computer industry: software giant Microsoft Corp (MSFT.O) and Internet
search company Google (GOOG.O).

The firm lowered its target on Microsoft by 19 percent, dropping it to $22
from $27 after the company reported quarterly results that missed expectations.
"Weakness was across almost every business unit as consumers and businesses are
slowing their IT purchases as well as shifting to lower end solutions," the
firm wrote.

Despite that, Deutsche Bank said Microsoft remains a compelling stock
because of its price to earnings ratio, and because of the upcoming Windows 7
product cycle.

Google's target was dropped 19 percent to $390 from $480, with Deutsche
Bank citing the potential of the economy worsening, and the impact of that on
marketers.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0744 ET 23Jan2009-Futures down after companies report earnings
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U.S. index futures fell on Friday, after new earnings releases from
companies showed how the recession was impacting businesses across all sectors.
General Electric (GE.N) reported fourth-quarter earnings that were down 44
percent from the prior year, though the results were in line with
expectations.

Dow Jones industrial average futures DJc1 fell 137 points while S&P 500
futures SPc1 slid 16.50 points and Nasdaq 100 futures NDc1 were down 21
points. [ID:nLN107989]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0740 ET 23Jan2009-Reid expects Geithner to be confirmed by Senate
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Harry Reid, the Senate majority leader, late Thursday said he expects
President Obama's pick for Treasury secretary, Timothy Geithner, to receive
full Senate confirmation. Reid said he hoped to hold the confirmation vote for
Geithner around 6 p.m. on Monday.

On Thursday, the Senate Finance Committee cleared Geithner for full
consideration by the Senate. The vote was 18-5, with all "no" votes coming from
Republicans. Geithner caused a controversy in his nomination process when it
was revealed that he hadn't paid $34,000 in taxes in recent years. [ID:
nN22539780]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net