Liz Claiborne Inc said on Thursday it has reached agreement to sell
its namesake clothing brand and Claiborne-branded merchandise exclusively at
J.C. Penney Co Inc stores.
The company said the move was part of a strategy it sees lifting its
wholesale brands to profitability in 2010.
For details, see
Shares of Liz surged 15 percent to $6 while J.C. Penney was up 0.7 percent
to $35.14.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0835 ET 08Oct2009-Jobless claims fell more than expected
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The number of U.S. workers filing new claims for jobless insurance fell
more-than-expected last week, dropping to a nine-month low, according to a
government report on Thursday.
Initial claims for state unemployment benefits dropped 33,000 to a
seasonally adjusted 521,000 in the week ended Oct.3, the lowest level since
early January, the Labor Department said. Analysts polled by Reuters had
forecast new claims slipping to 540,000.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0823 ET 08Oct2009-Most retailers topping estimates in Sept sales
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With 15 companies having reported, a majority of retailers have posted
September same-store sales data ahead of expectations, according to Thomson
Reuters data.
Nine retailers, or 69 percent of companies that have reported, have topped
expectations with a median positive surprise of 1.7 percent, a Thomson Reuters
report read. Four companies have come in under consensus.
The biggest upside surprises came from Children's Place, Limited and Wet Seal. The biggest misses were Stein Mart,
Stage Stores and The Buckle.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0813 ET 08Oct2009-Goldman downgrades L-3 Communications to 'sell'
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Goldman Sachs on Thursday downgraded L-3 Communications Holdings Inc to 'sell' and added the company to its conviction sell list in place of
Northrop Grumman Corp.
The firm wrote that there were 'substantial top-line headwinds' that would
prevent the company from growing revenue in 2010, including the company's
exposure to Iraq and to government services.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0810 ET 08Oct2009-M. Stanley: Q3 will be hard for mid-cap banks
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Morgan Stanley on Thursday said the third quarter would be hard for mid-cap
banks as higher credit costs weigh on earnings, though it added that
expectations for the group appeared realistic.
'Results are likely to be quite challenging for the group, with higher
sequential provision expenses and net charge-offs at most banks being the
biggest headwind,' the firm wrote to clients.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0807 ET 08Oct2009-Futures rise on Alcoa earnings, commodities
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U.S. stock futures rallied on Thursday, a day after Alcoa Inc kicked
off the latest earnings season with a surprise third-quarter profit.
Advancing commodity prices also lifted energy stocks.
For details, see
Dow Jones industrial average futures rose 75 points while S&P 500
futures gained 8.3 points and Nasdaq 100 futures were up 12.25
points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0755 ET 08Oct2009-Deutsche Bank starts Goldman, M. Stanley at 'buy'
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Deutsche Bank started both Goldman Sachs Group Inc and Morgan
Stanley as 'buy' on Thursday, saying the two banks would stay well
capitalized, even under likely increased regulatory capital requirements.
The firm said Goldman would generate superior earnings growth in the near
term, while Morgan Stanley would see improving book value growth and return on
equity over the long term.
For details, see
Morgan Stanley shares edged 0.3 percent higher to $31.24 in premarket
trading, while Goldman shares closed at $190.48.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
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