Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
1045 ET-08April2009-Short interest is up despite S&P rally
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Despite the rally in the S&P 500 index .SPX since mid-March, short
interest continues to rise, said Goldman Sachs derivative strategists in a
note. The NYSE Short Interest index which examines U.S. short interest as a
percent of total shares outstanding is up approximately 17 percent since the
start of March while the S&P 500 has increased 19 percent. "Despite some views
of a short covering rally, the rise in the Short Interest index suggests
potential for bearish positioning to continue," the note said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1038 ET 08April2009-Markets lose ground after insurer aid news
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Major U.S. indexes lost ground on Wednesday, with only the Nasdaq remaining
in positive territory, after the U.S. Treasury outlined the status of its plan
to aid insurers.
For details, see [ID:nN08512809]
The Dow Jones industrial average .DJI fell 4.1 percent to 7,780.08 while
the S&P 500 .SPX lost less than a tenth of a percent to 815.43 and the Nasdaq
.IXIC was up 0.4 percent to 1,568.26.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1033 ET 08April2009-Wedbush raises price target on Intel by $1
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Wedbush on Wednesday lifted its price target on Intel Corp INTC.O by $1
to $17, expecting the chipmaker to report first-quarter results that will beat
expectations.
It also said that Intel's results would reflect stronger PC order trends,
driven by inventory restocking and a stabilizing notebook market.
[ID:nWNAB1878]
Shares of Intel, a Dow component, fell 0.3 percent to $15.39.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1027 ET 08April2009-Citi starts coverage on North American gold
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Citi on Wednesday started coverage on North American gold, broadly
recommending an opportunistic investment strategy with the group and building
and lightening positions around a gold price range of $800 to $1,000 per
ounce.
The firm started Barrick Gold ABX.N with a buy rating and Newmont Mining
NEM.N at hold. It recommended Barrick over Newmont because the company's gold
hedges "will somewhat cushion it from a lower gold price," and because it
trades at lower multiples of gold reserves and has been the weaker performer in
recent months.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1021 ET 08April2009-Market holds gains after uptick rule news
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Major U.S. indexes held onto their gains on Wednesday, after the staff of
the Securities and Exchange Commission recommended an updated uptick rule
proposal, which would apply to all stocks.
For details, see [ID:nN08519368]
The Dow Jones industrial average .DJI rose 0.3 percent to 7,810.27 while
the S&P 500 .SPX gained 0.3 percent to 817.96 and the Nasdaq .IXIC was up 1
percent to 1,576.47.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1019 ET 08April2009-SEC staff recommends short selling restrictions
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The staff of the Securities and Exchange Commission on Wednesday issued
recommendations to restrict short selling, and also recommended an updated
uptick rule which would apply to all stocks.
The staff also recommended a bid test where shorting would only be allowing
on "up-bid."
For details, see [ID:nWEN7021]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1014 ET 08April2009-Wholesale inventories down in February
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Wholesale inventories fell a record 1.5 percent in February, while
wholesale sales gained 0.6 percent, the Commerce Department said on Wednesday.
Analysts had expected inventories to drop 0.7 percent. [ID:nN08513619]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0955 ET 08April2009-Family Dollar results, outlook lifts peers
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Shares of discount retailer rose on Wednesday, after Family Dollar FDO.N
reported second-quarter earnings that met expectations and raised its full-year
outlook as customers seek bargains in the recession.
For details, see [ID:nN03325379]
The stock advanced 4.8 percent to $34.21. Among its peers, Costco Wholesale
COST.O rose 3 percent to $47.79, BJ's Wholesale BJ.N added 2.4 percent to
$33.35, 99 Cents Stores NDN.N added 4.2 percent to $10 and Dow component
Wal-Mart Stores WMT.N rose 0.7 percent to $52.78.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net