STOCKS NEWS US-Economic diary for April 20

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]

1712 ET 17April2009-US economic diary for April 20
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Monday's economic data includes the following reports:

- Leading indicators (March)

For more details, see [ECI/US]
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net

1704 ET 17April2009-US earnings diary for April 20
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Monday's earnings diary includes reports from the following companies:

- Bank of America
- Boston Scientific
- Eli Lilly
- Halliburton Co
- Hasbro Inc
- IBM
- Texas Instruments

For more details, see [RESF/US]
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net

1634 ET 17April2009-CBOE fear gauge ends week at six-month lows
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The CBOE Volatility Index <.VIX>, the implied volatility measure of the S&P
500 index <.SPX>, fell 5.17 percent to 33.94, its lowest level in six months
and is down more than 10 points from the end of March. The drop in the 'fear
gauge' comes amid a recent rebound in the financials and mixed economic data.
"Better-than-expected earnings from companies like GE, Wells Fargo, Goldman
Sachs, and Google eased some pre-earnings jitters, just before the floodgate
opens on first quarter results next week," said WhatsTrading.com option
strategist Frederic Ruffy. He noted actual levels of market volatility remain
high. The 20-day historical volatility of the SPX is 40 and the recent slide in
the VIX has pushed it well below actual volatility. "Typically, these
divergences don't last long and one of two things happen: actual market
volatility eases and follows the VIX lower or stocks fall and the VIX rallies
back up to reflect the market's actual levels of volatility," he said. In the
volatility futures market, there is skepticism since VIX futures are trading at
a premium to the VIX, indicating that volatility will return, said Michael
McCarty, chief equity and option strategist at Meridian Equity.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1215 ET 17April2009-Investors circle UPS puts before results
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Investors are eying put options in United Parcel Service Inc before
the company is due to report quarterly results on April 23. Its shares fell
2.74 percent to $54.39 near midday. In all, about 55,000 puts and 10,000 calls
traded in UPS, double the combined average daily volume, according to Trade
Alert. Sentiment based on order flow was 48 percent bearish, 14 percent neutral
and 36 percent bullish, Trade Alert data show. WhatsTrading.com option
strategist Frederic Ruffy noticed large buyers of the May $55 put options.
Earlier in the session, the top trade in that strike price was 17,400 contracts
for a $2.45 premium on the International Securities Exchange, where sentiment
data indicate an opening customer put buy, he said. "It might be a bet that UPS
will deliver a weak profit report," he added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1200 ET 17April2009-Superior advances after Citigroup starts coverage
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Shares of Superior Energy rallied on Friday, advancing after
Citigroup started coverage on the oilfield services provider with a buy rating.
The firm wrote that Superior was well-positioned to enter the fast growing
deepwater market.
"Through acquisitions and organic growth, Superior has assembled a suite of
specialized oilfield services that are complementary and that can be bundled to
lower costs and minimize production downtime," the firm wrote. [nBNG435602]
Shares surged 9.1 percent to $17.25.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

1147 ET 17April2009-JPMorgan: Q1 results should help equities
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JPMorgan on Friday said that first-quarter earnings for companies in the
S&P 500 "should be a net help to equities," and to the idea of a constructive
second half of 2009.
The firm noted that of the 40 companies that had reported first-quarter
results so far, 60 percent had exceeded expectations.
That companies are beating expectations "at a time when there are fewer
downward revisions to forecasts" helps equities, the firm wrote, adding that
financials generating upside to results compared to the fourth quarter of 2008
was "central to any potential earnings recovery in the S&P 500 <.SPX>."
So far, "three of four financials have beat expectations and all showed
improvement sequentially," JPMorgan wrote.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

1140 ET 17April2009-Wall St's well of "good news" seen running dry
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"Now it feels like we have so much perfection priced in (bank earnings,
economic expectations, mark to market accounting, uptick rule, toxic asset plan
etc, etc)... where is the next piece of 'good news' going to come from?,"
CitiFX analysts said in a note on Friday.
Without another dose of "good news", the market could struggle to continue
charging ahead from its March bear market/12-year lows, they added.
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS

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