From MARKET TALK:
1048 GMT [Dow Jones] US stocks are called to start lower Monday
with the DJIA forecast to drop back from the 14,000 level, says
Fawad Razaqzada, Market Strategist at GFT Markets. Calls the DJIA
down 16 points at 13994 and the S&P two points lower at 1511.
"Earnings season is starting to wind down so this could take some
of the excitement out of the market and will also serve to focus
investors' minds on other key factors such as the next round on
Capitol Hill," Razaqzada says. Data are thin on the ground with US
industrial new orders at 1500 GMT. The DJIA front month futures
contract is currently down 0.1% at 13923.00 and S&P 500 futures
contract is also 0.1% lower at 1505.10.
(nina.bains@dowjones.com)
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HOT STOCKS TO WATCH
Among companies with shares expected to actively trade in
Monday's session is Brown & Brown Inc. (BRO).
Brown & Brown's fourth-quarter earnings rose 17% as the
insurance agency and brokerage firm continued to report top-line
growth from commissions and fees. Shares were up 1.9% to $28 in
after-hours trading as results beat analyst expectations.
Watch List:
Standard & Poor's downgraded its rating on NII Holdings Inc.
(NIHD) one notch further into speculative territory, noting the
wireless carrier's credit measures have deteriorated from factors
including a delay in deploying 3G networks in its markets,
primarily Brazil.
Moody's Investors Service placed its rating on Scientific Games
Corp. (SGMS) on review for a possible downgrade, noting the
company's plans to buy gaming-machine maker WMS Industries Inc.
(WMS) for $1.5 billion will increase its leverage.
Wet Seal Inc. (WTSLA) unveiled a series of cost-reduction
efforts, including the elimination of the chief operating officer
position, that will save the teen-clothing retailer about $5.5
million this year.
Yahoo Inc.'s (YHOO) biggest shareholder has sold 11 million
shares, as it seeks to maintain a consistent percentage holding in
the Internet firm amid Yahoo's aggressive stock buyback
program.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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