NEW YORK (Thomson Financial) - Stocks on the move Real-Time Equity news
U.S. stock market report
11:08 ET-23Sept2008 Bed Bath & Beyond attracts bearish spread trade ahead
of earnings
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Bed Bath & Beyond shares fell 2.24 percent to $30.08, one day
before the home-goods retailer reports quarterly earnings. In the options
market, volume is double the normal daily level with 14,000 puts traded vs.
just 377 calls, according to Trade Alert. Most of the action showed up in a
2-by-1 put spread in the front month between strikes $27.50 and $30, in which a
trader sold 2 of the lower strike and bought 1 contract in the upper strike for
a net debit of 30 cents, said Rebecca Engmann Darst, analyst at Interactive
Brokers Group in a note. Implied volatility at 50.4 percent is below the
historic volatility of 55.3 percent, she said.
Reuters Messaging rm://doris.frankel.reuters.com@reuters.net
1103 ET 23Sep2008 - Techs lift Wall St on spending optimism
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U.S. stocks rose on Tuesday led by a jump in technology bellwethers
including Microsoft Corp on hopes the proposed $700 billion financial
sector bailout would help loosen up lending and boost business and consumer
spending.
Even so, investors were cautious and trading was choppy, a day after the
broader market slid nearly 4 percent as investors fretted about the economy's
outlook.
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Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1040 ET 23Sep08-Investor confidence down in September-State Street
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Global investor confidence fell to 70.7 in September from a revised August
level of 73.1, according to State Street Global markets' monthly investor
confidence index. The September reading was the third-lowest since State Street
began the index more than 10 years ago. Asian investors saw the biggest monthly
slide, with the index dipping to 85.8 from 88.3, while the North American index
edged up to 76.1 in September from 75.2 the prior month. Europeans were a bit
more optimistic, with the index climbing 5.4 points to 81.8 from the revised
August reading of 76.4. The index was compiled before the announcement of the
latest rescue plans for the U.S. financial sector, State Street said. The index
measures investor confidence by analyzing buying and selling patterns of
institutional investors.
Reuters Messaging: rm://steven.c.johnson.reuters.com@reuters.net
1035 ET 23Sep08-S&P 500 stock buybacks down 44 pct in Q2
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Stock buyback activity fell 44.3 percent in Q2, falling to its lowest level
since Q3 2005, according to Standard & Poor's Index Services. S&P 500 buybacks
were set to total $87.9 billion in Q2, below the $157.8 billion seen in Q2
2007, Standard & Poor's Index Services said. Financials decreased expenditures
on buybacks in Q2 while infotech companies increased buyback activity. The
latter sector now accounts for 26.23 percent of all buybacks, S&P said, adding
it expects overall buyback activity to decrease again in Q3.
Reuters Messaging: rm://steven.c.johnson.reuters.com@reuters.net
1015 ET 23Sep08-Techs lift market on bailout hopes
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U.S. stocks rose on Tuesday as shares of technology bellwethers, including
Microsoft Corp, jumped on hopes that the proposed $700 bln financial
sector bailout would help loosen up lending and boost business and consumer
spending.
For details, doubleclick
Reuters Messaging: rm://steven.c.johnson.reuters.com@reuters.net
1010 ET 23Sep08-U.S. should consider Nordic approach-analyst
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David Gilmore, partner at Foreign Exchange Analytics in Essex, Connecticut,
says U.S. needs to take a Nordic approach to the credit crisis, imitating
Sweden's early 1990s move to leave good banks private but take over bad ones
and wind down their operations and bad assets ahead of privatization. He says
problem today is much too large for "an RTC-like response." He says "as long as
markets know a major policy response is in the works and both sides of the
aisle agree to find an answer in the next two weeks, asset prices can hold
together." But he says Paulson and company's "this-or-nothing" approach is not
helpful.
Reuters Messaging: rm://steven.c.johnson.reuters.com@reuters.net
0938 ET 23Sep08-Market edges higher as oil slips, testimony eyed
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U.S. stocks opened slightly higher on Tuesday, clawing back from Monday's
steep declines, as the price of oil slipped and investors awaited key
congressional testimony about the financial sector bailout plan.
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Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net
0709 ET 23Sep2008-Earnings diary for Sep 23
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Earnings reports on Tuesday include Lennar Corp
For an earnings diary, please see
Reuters Messaging: rm://steven.c.johnson.reuters.com@reuters.net
0705 ET 23Sep2008-Economic diary for Sep 23
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Economic indicators due for release on Tuesday include the Richmond Federal
Reserve Manufacturing Index.
For an economic diary, please see
Reuters Messaging: rm://steven.c.johnson.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
Chuck Mikolajczak
cm
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