Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided “as is” for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein. See the rest here: Facebook creates dual-class stock structure (AP)

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WASHINGTON (AP) — The apparent end of the recession and stabilizing financial markets have not cured the banking industry, as souring and past-due loans have reached the highest levels in 26 years, the Federal Deposit Insurance Corp. said Tuesday. Banks earned $2.8 billion in the third quarter, but nearly 40 percent of that was from a one-time accounting trick. Loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red. The number of banks on the FDIC’s “problem list” rose to 552 from 416 on June 30, the highest level in 16 years. Fifty banks failed during the quarter — the largest number since the second quarter of 1990. The FDIC’s fund that insures bank deposits fell by $18.6 billion, mostly because $21.7 billion was set aside for expected losses on future bank failures. The last similar deficit was in Dec. 1991, when a predecessor fund was more than $7 billion in the red. Separately, the Office of Thrift Supervision said Tuesday that thrifts eked out a $200 million profit in the third quarter. The agency called it “another break-even quarter,” after a small second-quarter profit was revised downward to a $94 million loss. Still, it was the first profitable quarter since the same period in 2007. The nominal profit was $1.3 billion, but $1.1 billion was a one-time gain at a single institution. The thrift’s holding company, which the OTS did not identify, shifted assets to reduce future tax expenses, agency officials said. The agency says the number of “problem thrifts” rose to 43 from 40 last quarter. Thrifts differ from banks in that they are required, by law, to have at least 65 percent of their lending in mortgages and other consumer loans. That makes them especially vulnerable to the housing downturn and unemployment. It also means they will play a key role in an eventual economic recovery. The FDIC voted this month to require banks to prepay three years of deposit insurance premiums by the end of next month to help replenish the dwindling deposit insurance fund, which is at its lowest point on record. That will raise about $45 billion. But bank failures this year through 2013 are expected to cost the fund $100 billion, so the prepayments won’t provide a long-term fix for the insurance fund. It does spare ailing banks the immediate cost of paying a second emergency fee this year. Depositors’ money — insured up to $250,000 per account — is not at risk, since the FDIC has the option of tapping a credit line with the Treasury Department. “While bank and thrift earnings have improved, the effects of the recession continue to be reflected in their financial performance,” FDIC Chairman Sheila Bair said. A 2.8 percent drop-off in loans outstanding — the largest percentage decline on record — showed that credit for consumers and businesses remained tight, she said. “There is no question that credit availability is an important issue for the economic recovery,” Bair said. “We need to see banks making more loans to their business customers.” That’s especially important for small businesses which get more than 60 percent of their credit from banks the FDIC insures, she said. Bank profits returned in the third quarter after a $4.3 billion loss in the previous quarter and $879 million in earnings last year. But analysts warned not to read much into the better earnings. “A few very large banks are making a pile of money, and the rest of the industry is hurting,” said Daniel Alpert, managing director of the New York investment bank Westwood Capital LLC. The largest Wall Street firms are benefiting from a host of government subsidies — such as capital injections, asset guarantees, low-cost borrowing — that cost taxpayers without improving the economy, Alpert said. “We’re creating riskless profits for the big banks,” he said. Still, banking analyst Bert Ely said the Federal Reserve’s low-interest rate policy is helping the whole industry. Net interest margin — the difference between what it costs banks to borrow and what they pay to depositors — reached a four-year high. It was a rare bright spot in the FDIC report. That bright spot comes at the expense of consumers, who are earning historically low interest rates on their deposits. “Americans are getting nothing in terms of interest on their savings so that the banks can make money,” Alpert said. High unemployment and slow spending are making it harder for banks to collect from consumers. Loans 90 or more days past due reached 4.9 percent — the highest in 26 years. Banks gave up on collecting $50.8 billion in loans during the quarter, an 80.5 percent increase from a year ago. It was the 11th straight quarterly increase and — at 2.7 percent — another 26-year high. OTS Acting Director John Bowman cast a cautious tone, saying thrift profits were hurt by money being set aside as they prepare for more loan losses. “We know that we have not seen the last thrift failure of this crisis,” Bowman said. Some smaller banks have protested the early insurance assessments that are being charged to replenish the deposit insurance fund. They complain that they had nothing to do with the excesses of big Wall Street banks, reckless mortgage lending and risky investments that precipitated the financial crisis, but are being forced to pay to help clean up the mess. There have been 124 bank failures so far this year, the most since 1992 at the height of the savings-and-loan crisis. They have cost the federal deposit insurance fund more than $28 billion. There were 25 bank failures last year and three in 2007. Bair said “there are no quick fixes” for the banking industry’s troubles — “only careful, hard work” to oversee banks as they continue writing off bad loans and attempt to ride out the downturn. “It really is all about the economy at this point,” she said. Read the r est here: Banks earn $2.8B in 3Q; FDIC says dangers persist (AP)

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WASHINGTON (AP) — Republicans are using everything short of forklifts to show Americans that Democratic health care legislation is an unwieldy mountain of paper. They pile it high on desks, hoist it on a shoulder trussed in sturdy rope and tell people it’s longer than “War and Peace,” which it isn’t. AP – FILE – In this Nov. 5, 2009, file photo Rep. Steve King, R-Iowa, holds a copy of the … Although they complain they don’t have time to read all of it, they found the time to tape it together, page by page, so they could roll it up the steps of the Capitol like super-sized toilet paper and show how very long it is. Size matters in the health care debate because Republicans have turned the length of the legislation into a symbol: Big, unwieldy bill means big, overreaching government. Even bigger when you display double-spaced copies with double-wide margins and large print — then pile copies of the House and Senate bills together so that the cameras see something monstrously tall. Lawmakers routinely debate massive legislation without absorbing every word. They employ people to find what matters to them. Indeed, legislation of comparable size was used to redefine an area of much more limited federal responsibility, education. That was the No Child Left Behind Act from the agenda of Republican President George W. Bush. The nation’s health care system accounts for one-sixth of the economy and no one really expects brevity when reinventing something so complex. No one really expects the Republicans’ theatrical legislation inflation to stop, either. Five Republican senators displayed the massive legislation on their desks during the weekend vote to bring the Senate health bill to full debate, as GOP lawmakers have been doing since the House bill came out earlier. As if he risked a hernia carrying it any other way, Republican Rep. Steve King of Iowa was seen carrying the House Democratic bill on his shoulder, all roped together. GOP Rep. John Culberson of Texas brought a copy to a Capitol Hill rally and threw its loose pages to the crowd, like meat to lions. The actual Senate bill, which Majority Leader Harry Reid introduced last week, came in at 2,074 double-spaced pages, 84 more pages than the House version, which was already being ridiculed for its size. “That’s larger than the novel ‘War and Peace,’” Republican Sen. Orrin Hatch of Utah said of the Senate bill. “Exceeding even ‘War and Peace’ in length,” Rep. Roy Blunt, R-Mo., said of the House bill. Said Rep. Joe Barton, R-Texas: “‘War and Peace’ — some people consider it the greatest book ever written, but most people recognize the novel because at 1,284 pages its length is often the butt of jokes. Now imagine trying to read something that long overnight.” Actually, Leo Tolstoy’s tome is longer than either bill. Full translated versions are nearly twice as long. The bill passed by the House is 319,145 words. The Senate bill is 318,512 words, shorter than the House version despite consuming more paper. Various versions of Tolstoy’s novel are 560,000 to 670,000 words. Bush’s education act tallied more than 280,000 words. By now, the full draft of Reid’s bill that had circulated in the corridors and landed so prominently on Republican desks has been published in the Congressional Record in the official and conventional manner. The type is small and tight. No hernias will be caused by moving this rendering of the bill around. Unfurling it on the Capitol steps would not be much of a spectacle. It’s 209 pages. Associated Press writer Ann Sanner contributed to this report. Originally posted here: SPIN METER: ‘War and Peace’ in 209 pages? (AP)

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WASHINGTON (AP) — The Federal Reserve doesn’t expect the recovery will be strong enough to quickly drive down the jobless rate, and acknowledged its efforts to keep the rebound going could feed a new speculative bubble. AP – FILE – In this May 24, 2008 file photo, the headquarters of the Federal Reserve Bank is seen … Record-low interest rates “could lead to excessive risk-taking in financial markets,” according to documents released Tuesday of the Fed’s closed-door meeting earlier this month. It also could cause consumers, investors and businesses to worry about inflation taking off. Although Fed officials saw the current likelihood of that as “relatively low,” they pledged to “remain alert to these risks.” At the Nov. 3-4 meeting, Fed Chairman Ben Bernanke and his colleagues kept the target range for its bank lending rate at zero to 0.25 percent. Fed policymakers also pledged to hold rates at such super-low levels for an “extended period,” to ensure the recovery gains traction. Most analysts predict that means rates will stay where they are through the rest of this year and into part of 2010. On the economy, the Fed expects the unfolding recovery will be gradual, as modest growth keeps the nation’s unemployment rate elevated over the next several years. Most Fed policymakers said it could take “five or six years” for the economy and the labor market to be consistently healthy. High unemployment, slow income growth and hard-to-get credit will weigh on consumer spending “for some time to come,” the Fed said. Troubles in the commercial real-estate market also will restrain the recovery, according to minutes of the November meeting. Fed officials expected the pace of the recovery “would be rather slow, relative to historical experience.” Recoveries after steep economic downturns are usually robust, the Fed said. In updated economic projections, the Fed said the economy’s contraction for all of this year won’t be as deep as it thought in a forecast released in the summer. That’s because the second half of this year is shaping up better than anticipated. Under a range of new projections, the economy will shrink 0.5 percent or be flat this year. The old forecast called for a contraction of anywhere from 0.6 to 1.6 percent. Growth next year should turn out slightly better than the Fed previously projected– ranging from 2 to 4 percent — up from 0.8 to 4 percent. But that won’t be enough to quickly drive down the unemployment rate, which now stands at 10.2 percent. It’s only the second time in the post-World War II period the rate has topped 10 percent. The central bank predicted the jobless rate could hover between 8.6 and 10.2 percent next year, based on a range of forecasts from Fed policymakers. It’s a tad better than its previous forecast, where the Fed said the jobless rate could rise as high as 10.6 percent. The postwar high was 10.8 percent at the end of 1982 when the country had suffered through a severe recession. Looking ahead to 2011, the Fed said the unemployment rate could drop to anywhere from 7.2 to 8.7 percent. That would still be considered well above normal, which is between 5 and 6 percent. “Most members projected that over the next couple of years, the unemployment rate would remain quite elevated,” according to the Fed minutes. Inflation, meanwhile, should stay under control, the Fed said. Prices this year should increase between 1 and 1.7 percent, and rise a bit higher next year. The new projections were little changed from the old forecast. The new projections buttressed economists’ beliefs that Fed policymakers won’t be in any rush to boost rates. “So long as unemployment remains high and inflation expectations subdued, the Fed has little desire to lift rates,” said Sal Guatieri, economist at BMO Capital Markets. “Since the November meeting, Fed speakers have turned decidedly dovish” likely because unemployment spiked to 10.2 percent just days after that gathering. View original post here: Fed: super-low rates could fuel speculative bubble (AP)

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By Rodrigo Campos Reuters – Phones hang from a trading terminal on the floor of the New York Stock Exchange, May 19, 2009. … {”s” : “dell,hpq”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} NEW YORK (Reuters) – U.S. stocks were mostly flat in low volume on Tuesday as the Federal Reserve lifted its growth estimates for 2010, offsetting data that showed the economy grew at a slower-than-expected pace in the third quarter. Revised government data showed gross domestic product expanded for the first quarter in five, but the increase was just below expectations, and investors scrambled to justify additional stock gains after a 22 percent rise in the S&P 500 so far this year. The downbeat news was offset partially after the Fed revised upward its growth expectation for 2010, while minutes of the last FOMC meeting showed officials are increasingly confident about a durable recovery for the U.S. economy. “You’re getting the cross-current of weak revisions to third-quarter data matrixed against the Fed increasing the growth estimates for the economy for the next year,” said Jim Awad, managing director at Zephyr Management in New York. “But the action in the market is moderate going into the holiday weekend and I wouldn’t read too much into it.” The U.S. stock market will be closed on Thursday in observance of Thanksgiving Day. And on Friday, it will be open for only half a day due to the holiday. The Dow Jones industrial average (DJI: ^DJI – News ) slipped 13.53 points, or 0.13 percent, to 10,437.42. The Standard & Poor’s 500 Index ( ^SPX – News ) dipped 0.18 of a point, or 0.02 percent, to 1,106.06. The Nasdaq Composite Index (Nasdaq: ^IXIC – News ) dropped 6.69 points, or 0.31 percent, to 2,169.32. Hewlett-Packard Co (NYSE: HPQ – News ) fell 1.5 percent to $50.26 a day after the blue-chip computer and printer maker reported a quarterly profit that matched its preliminary results, but said the economy remained challenging. HP also said it saw growth in its share of U.S. enterprise PCs, which is rival Dell Corp’s (NasdaqGS: DELL – News ) key market. Dell’s stock fell 3.2 percent to $14.32 and ranked as a top drag on the Nasdaq. Financial stocks showed weakness throughout the session, with JPMorgan Chase & Co (NYSE: JPM – News ), down 2 percent at $42.43, leading the major decliners in the Dow industrials. The KBW bank index (Philadelphia: ^BKX – News ) fell 0.7 percent. Zephyr Management’s Awad said there is concern about banks’ capital after news that the Fed asked lenders that were part of its “stress tests” to submit plans to repay government money. U.S. home prices rose in September, according to the Standard & Poor’s/Case-Shiller index, but the increase was less robust than forecast. Home prices for that month were unchanged, according to a separate report from the U.S. Federal Housing Finance Agency. The Dow Jones U.S. Home Construction Index (DJI: ^DJUSHB – News ) fell 1.7 percent. (Reporting by Rodrigo Campos; Editing by Jan Paschal) Link: Stocks flat as Fed eyes stronger 2010 (Reuters)

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KANSAS CITY, Mo. (AP) — Sprint Nextel Corp. on Tuesday said it had completed its $483 million acquisition of Virgin Mobile USA, boosting its presence in the market for customers who pay for cell phone service month-to-month. AP – FILE – In this Monday, Oct. 26, 2009 file photo, a sign hangs outside a Sprint store in … {”s” : “leap,pcs,s”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Virgin Mobile shareholders earlier Tuesday voted in favor of the acquisition, which was announced in July and pays them $5.50 in Sprint stock for each Virgin Mobile share. The deal also includes retiring Virgin Mobile’s debt. Sprint Nextel already owned 13.1 percent of Virgin Mobile, which uses Sprint’s network to offer service and has 5.2 million subscribers. Like other so-called “prepaid” vendors, Virgin Mobile primarily appeals to customers who lack the credit or income to qualify for long-term contracts or simply want a bargain over contract-based plans. The market for these customers has expanded as the economy has forced more traditional wireless customers to search for cheaper plans. Sprint, which is based in Overland Park, Kan., ignited a mini-price war in January when it introduced a $50-per-month prepaid unlimited plan under its Boost Mobile brand. It’s unclear how Virgin and Boost will coexist under Sprint, although they have been geared toward different markets — Virgin aimed at teens and 20-somethings while Boost is considered a value brand. The company said customers of both brands won’t see any immediate changes. Other competitors in the prepaid space include No. 4 carrier T-Mobile USA and smaller upstarts like MetroPCS Communications Inc. and Leap Wireless International Inc., which sells under the Cricket brand. Prepaid carriers are expected to have the most growth potential as most people who want wireless service in the U.S. and are eligible for a contracts have a phone already. Virgin Mobile shareholders, which include British billionaire Richard Branson’s Virgin Group and South Korean carrier SK Telecom, will own about 3 percent of Sprint. Sprint shares were down 12 cents, or 3 percent, to $3.78 in afternoon trading Tuesday. See the original post here: Sprint completes purchase of Virgin Mobile USA (AP)

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PHILADELPHIA (AP) — Shares of Brocade Communications Systems Inc. fell Tuesday after the company denied speculation that it’s looking for a buyer. “That’s just wrong. Why would we want to go ahead and do that when we have never been in a better position than we are today?” CEO Mike Klayko said in a corporate video on fourth quarter results. He said Brocade has taken the trouble to provide a full suite of products and services to compete with larger competitors and it’s “winning.” Shares of Brocade fell 71 cents, or 9.1 percent, to $7.09 in afternoon trading on heavy volume. “Brocade’s stock is under a little bit of pressure since investors hoping for an acquisition are exiting the stock,” said Wedbush Morgan analyst Kaushik Roy in a research note. Late Monday, the networking equipment maker also warned that the first quarter won’t be as strong as the same quarter in past years and an overall rebound isn’t expected until the back end of fiscal 2010. First-quarter revenue should be up 4 to 5 percent from the fourth quarter instead of the typical seasonal increase of 6 to 8 percent. The second and third quarter revenue could see no increase to some lift, and a strong fourth quarter is expected. Brocade reported fourth-quarter earnings of $33.6 million, or 7 cents per share, compared with $35.6 million, or 9 cents per share, a year ago. Excluding one-time items, earnings would have been 15 cents per share, beating the expectations of analysts surveyed by Thomson Reuters. Revenue rose 31 percent to $521.8 million on strong growth in product sales helped by the company’s Foundry Networks acquisition, topping analysts’ $521.1 million estimate. Shares of Brocade, based in San Jose, Calif., fell 18 cents, or 2.3 percent, to $7.62 in premarket trading. Read the original here: Brocade CEO says company not for sale, shares drop (AP)

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Oil prices fell to around $76 a barrel Tuesday with new data showing a slow U.S. economic recovery and consumer confidence that remains lukewarm at best. AP – FILE – In this Sept. 19, 2007 file photo, an oil pump is seen at dusk in Sakhir, … {”s” : “ung,uso”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The dollar also gained against other major currencies, which can keep energy prices in check. Benchmark crude for December delivery fell $1.54 to settle at $76.02 a barrel on the New York Mercantile Exchange. The Commerce Department said the economy grew at a rate of 2.8 percent between July and September, short of estimates for 3.5 percent growth released just a month ago. Consumers are not spending much, commercial construction was weak, businesses trimmed inventories. The lack of consumer spending was partly explained in another report released Tuesday. Americans’ confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the holiday shopping season, according to the monthly survey released by the Conference Board. The lack of industrial and consumer activity has played out in weekly oil inventory reports from the Energy Department, with supplies of crude in storage growing. The next weekly report arrives Wednesday, and expectations are that crude and gasoline supplies grew again last week. Retail prices edged lower again, falling less than a penny to $2.638 per gallon Tuesday. That’s a lot more than last year at this time, when gasoline prices plunged to about $1.91 as the economic crisis unfolded. Gasoline consumption for the week ended Friday declined 1.6 percent from the previous week and 1.4 percent from a year ago, according to the weekly MasterCard SpendingPulse report. Year-to-date consumption for 2009, however, is still up 0.6 percent. MasterCard’s report is based on aggregate sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check. Still, gasoline prices are being supported by crude, which has traded between $76 and $82 for more than a month. That is largely being blamed on the dollar because oil is bought and sold in the U.S. currency. Investors holding euros or other currencies can buy more oil when the dollar falls. Crude prices rose Monday when the dollar fell. On Tuesday, the dollar gained against the euro, yen, and British pound. Oil prices fell as much as 2 percent. In other Nymex trading, heating oil fell less than a penny to settle at $1.9497 a gallon. Gasoline for December delivery fell almost 4.04 cents to settle at $1.939 a gallon. Natural gas for December delivery rose 1.3 cents to settle at $4.486 per 1,000 cubic feet. In London, Brent crude dropped $1 to settle at $76.46 on the ICE Futures exchange. Associated Press Writers Alex Kennedy in Singapore, Barry Hatton in Lisbon, Portugal, and Jeannine Aversa in Washington contributed to this report. Continued here: Crude prices sink to $76 per barrel (AP)

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DEARBORN, Mich., Nov. 24 /PRNewswire-FirstCall/ — Ford Motor Company (NYSE: F – News ) announced today the successful completion of its previously announced plan to amend and extend the revolving credit facility under its secured credit agreement. Revolving lenders have agreed to extend the maturity of commitments totaling $7.2 billion under the facility to November 30, 2013 from December 15, 2011, and such lenders will convert $724 million of their existing revolving loans to a new term loan that matures on December 15, 2013. The total amount extended to 2013, including the new term loan, is $7.9 billion. Each lender that agreed to extend the maturity of its revolving commitment was permitted to reduce its revolving commitment by up to 25 percent at its election and to the extent its reduced revolving commitment exceeded certain specified levels, such excess will be converted into the new term loan under the secured credit agreement maturing on December 15, 2013. In addition, lenders that agreed to extend the maturity of their revolving commitments will receive a 1 percentage point increase in interest rate margins, an increase in quarterly fees and payment of an upfront fee. “We are very pleased with the results of the amendment, extension to our revolving credit facility, and new term loan,” said Neil Schloss, Ford vice president and treasurer. “We appreciate the support of our banking partners as today’s actions will provide additional liquidity through 2013.” On December 3, 2009, Ford will repay $1.9 billion of the existing revolving loans to effect the commitment reductions elected by extending lenders. Lenders with commitments totaling $886 million have elected not to extend those commitments, which will mature on the original maturity date of December 15, 2011. Prior to the amendment, revolving lenders held commitments totaling $10.7 billion that matured on December 15, 2011. After the amendment, revolving lenders hold a total of $8.1 billion of extended and non-extended revolving commitments and $724 million of the new term loan. The lenders also approved amendments to the credit facility that expand existing limitations on debt prepayments and repurchases to allow for further balance sheet improvements. About Ford Motor Company Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 200,000 employees and about 90 plants worldwide, the company’s brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products, please visit www.ford.com . See the original post here: Ford Completes Plan to Amend and Extend Existing Revolving Credit Facility (PR Newswire)

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NEW YORK (AP) — Embattled bond insurer Ambac Financial Group Inc. announced Tuesday the resignation of its chief financial officer. The company, based in New York, said Sean Leonard left “to pursue other interests.” The resignation is effective immediately. The departure comes just weeks after Ambac said it may be forced to file for bankruptcy protection. In a filing with the Securities and Exchange Commission Nov. 9, the company said it believes it has enough liquidity to get through the second quarter of 2011, but warned it could run out of money sooner. Ambac for years had backed municipal bonds that rarely defaulted and paid steady dividends. In recent years, however, the company invested in complex new bonds that were comprised of risky mortgages amid the housing bubble. The new bonds were an opportunity for Ambac to generate outsize returns. But as the housing bubble burst and mortgage defaults spiked, the likelihood of issuer default and claims on bond insurance rose. In the filing with the SEC earlier this month, Ambac said it may not be able to generate enough cash to pay operating expenses and debt obligations over the long term. Given the tight credit markets, the company said it also may not be able to access alternate sources of capital. “No assurances can be given that Ambac will be successful in executing any or all of its strategies,” the company said in the filing. Ambac Financial is considering a restructuring of its debt through a prepackaged bankruptcy proceeding. But if it can’t bolster its capital position, the company said it may file for bankruptcy without a lender agreement in place. Leonard joined Ambac in 2005, according to the company. Those who worked under Leonard will report to CEO David Wallis until a replacement is found, Ambac said. An Ambac representative did not immediately return a call for further comment. Shares of Ambac fell 9 cents, or 10 percent, to 81 cents in afternoon trading. In the past year, shares have traded between 35 cents and $2.09. In November of last year, shares were as high as $3.40. More: Ambac Chief Financial Officer Sean Leonard resigns (AP)

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WHITEHOUSE STATION, N.J.–(BUSINESS WIRE)–At their meeting today, the Board of Directors of Merck & Co., Inc. declared a quarterly dividend of $0.38 per share on the company’s common stock for the first quarter of 2010. Payment will be made on Jan. 8, 2010 to common stockholders of record at the close of business on Dec. 15, 2009. The Board of Directors today also declared a quarterly dividend of $3.75 per share on the company’s mandatory convertible preferred stock for the first quarter of 2010. Payment will be made on Feb. 15, 2010 to preferred stockholders of record at the close of business on Feb. 1, 2010. In a separate action, the Board of Directors approved purchases over time of up to $3 billion of Merck’s common stock for its treasury. Treasury stock purchases will be made on the open market or in block transactions or in privately negotiated transactions. About Merck Today’s Merck is working to help the world be well. Through our medicines, vaccines, biologic therapies, and consumer and animal products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to health care through far-reaching programs that donate and deliver our products to the people who need them. Merck. Be Well. For more information, visit www.merck.com . Forward Looking Statement This news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about the benefits of the merger between Merck and Schering-Plough, including future financial and operating results, the combined company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Merck’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the possibility that the expected synergies from the merger of Merck and Schering-Plough will not be realized, or will not be realized within the expected time period, due to, among other things, the impact of pharmaceutical industry regulation and pending legislation that could affect the pharmaceutical industry; the risk that the businesses will not be integrated successfully; disruption from the merger making it more difficult to maintain business and operational relationships; Merck’s ability to accurately predict future market conditions; dependence on the effectiveness of Merck’s patents and other protections for innovative products; the risk of new and changing regulation and health policies in the U.S. and internationally and the exposure to litigation and/or regulatory actions. Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Merck’s 2008 Annual Report on Form 10-K, Schering-Plough’s Quarterly Report on Form 10-Q for the quarterly period ended Sept. 30, 2009, the proxy statement filed by Merck on June 25, 2009 and each company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site ( www.sec.gov ). View original post here: Merck Announces Quarterly Dividends and New $3 Billion Share Repurchase Program (Business Wire)

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SAN FRANCISCO (AP) — U.S. senators are pressuring European antitrust regulators to hurry their investigation of Oracle Corp.’s proposed acquisition of Sun Microsystems Inc., citing Sun’s “precarious” financial condition and fears about more layoffs at the struggling computing company. A group of 59 senators outlined the concerns in a letter Tuesday to the European Commission, which has held up the $7.4 billion deal over worries that Oracle would be too dominant in the market for database software. Oracle is the leader in proprietary database software — which means its underlying code is kept private — while Sun’s MySQL division makes the No. 1 open-source database. Companies use database software to manage large stockpiles of information, such as their payroll or customer data. The Oracle-Sun combination would be one of the biggest technology deals of the year, and was cleared in August by the U.S. Department of Justice. This month, though, the European Commission notified the Silicon Valley companies of its formal objection to the deal. Oracle and Sun are appealing that ruling before the EU’s preliminary ruling has a chance to become final. EU regulators have until Jan. 27 to wrap up that review. Sen. John Kerry, D-Mass., the lead author of Tuesday’s letter, said a further delay in the review “threatens thousands of American jobs, so we felt compelled to ask for a speedy resolution.” “Sun Microsystems’ financial position has become more precarious and the commission’s inquiry has continued,” the letter read. “Some have raised concerns over the company’s ability to continue to employ its thousands of workers. Accordingly, we respectfully request the European Commission complete its investigation of this transaction as quickly as possible.” Both companies had hoped the deal would close this summer. Since it hasn’t, Sun rivals such as IBM Corp. and Hewlett-Packard Co. have been playing up uncertainty about the deal to steal business from Sun. Sun has lost $677 million over the last four quarters. It also said last month it would be cutting up to 3,000 jobs, or 10 percent of its worldwide work force, as it awaits a decision on the fate of the deal. Because of fears that the deal won’t get completed, Sun’s stock is trading for much less than the $9.50 per share that Oracle would pay to acquire the company. The stock fell 4 cents, or 0.5 percent, to $8.50 on Tuesday afternoon. Continue reading here: Senators press EU to speed its Oracle-Sun probe (AP)

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PARIS (AP) — France’s Vivendi SA said Tuesday it has issued euro1.2 billion ($1.8 billion) in bonds. The Paris-based media and entertainment giant said the two-part bond issue aims to “increase the average maturity of the debt … and to maintain a good balance between bonds and credit lines.” Vivendi is currently the focus of intense interest because a deal between U.S. media giants Comcast Corp. and NBC Universal to create one of the world’s largest media companies hinges on what the French group decides to do with its 20 percent stake in NBC Universal. Vivendi has an option until Dec. 10 to dispose of its stake in NBC Universal. Majority owner General Electric Co. is expected to buy it and then sell a 51 percent stake of the entire NBC Universal unit to Comcast, which serves about a quarter of the nation’s subscription TV households. Here is the original post: Vivendi issues euro1.2 billion in bonds (AP)

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NEW YORK (AP) — Barnes & Noble Inc. and Borders Group Inc., the nation’s two largest brick-and-mortar book sellers, both posted quarterly losses Thursday and forecast a difficult holiday season, saying competition from discount chains and online retailers is stiffening. AP – FILE – In this May 18, 2009 file photo, a customer reads magazines inside the Barnes and Noble … Barnes & Noble, the larger of the two, also cut its forecast for annual profit, and shares of both retailers fell. Even with online presence, traditional bookstores have had a rough time facing off against online sellers like Amazon.com as they also compete with low-price brick-and-mortar stores including Wal-Mart Stores and Target and cope with consumers cutting discretionary purchases amid tough economic times. But Barnes & Noble CEO Stephen Riggio said this fall’s price war among Amazon.com, Walmart.com and Target Corp.’s online division — in which those retailers cut prices on preorders for some new titles to $9 and less — was “overblown.” “Book-selling has been for a long time a ‘long tail’ business,” Riggio said during a conference call with investors. “Best sellers represent less than 5 percent of our sales and among these very top best sellers less than 1 percent of our sales.” Still, “every percentage counts,” said Michael Norris, a senior analyst with Simba Information. “I wouldn’t be that quick to dismiss the influence of the big discounters there,” he said. “You can go to Walmart.com and get the Sarah Palin book for a few bucks less than you can at either of them.” Barnes & Noble, which operates 775 stores, reported a fiscal second-quarter loss of 43 cents per share. Excluding costs related to buying back its 636-store college bookstore from its chairman in August, it earned 30 cents per share, matching analyst forecasts. Sales for the quarter ended Oct. 31 rose 4 percent to $1.16 billion — though the increase was due to revenue from the college bookstores. Excluding that, Barnes & Noble sales fell 2 percent to $1.09 billion. The company, based in New York, lowered its yearly forecast as the costs of producing its new electronic reader, the Nook rose and holiday sales seemed off to a weak start. Shares fell $1.58, or 6.7 percent, to $21.94 during midday trading. The stock has traded between $12.64 and $28.78 over the past year. Barnes & Noble is pinning its hopes for future profit on the Nook, a competitor with Amazon.com’s Kindle for which it began accepting pre-orders last month. Last week, it said orders had exceeded expectations and those placed beginning Nov. 20 would be filled Jan. 4 or later. The company plans to bulk up its e-content digital business, selling digital subscriptions to newspapers, blogs, magazines and other periodicals as well as digital books. Both companies forecast a weak holiday season. “This is an unpredictable holiday selling season as consumers remain unsettled and reactive to economic news,” said Borders CEO Ron Marshall. Borders Group Inc. lost $38.5 million, or 64 cents per share, less than a year ago, but its third straight quarterly loss. Revenue for the three months that ended Oct. 31 dropped 13 percent to $602.5 million. In an effort to improve its finances, Borders, based in Ann Arbor, Mich., has cut jobs, closed stores and chosen new leaders. It also has shifted its focus from less profitable categories like music and toward children’s books, toys, stationery and its cafe. But it has been slower than Barnes & Noble to shutter its lower-margin small-format stores and grow its e-commerce business. “Barnes & Noble still remains at least one step ahead of Borders,” Norris said. Borders shares fell 21 cents, or 10.5 percent, to $1.80. The stock has traded between 34 cents and $4.48 over the past year. AP Retail Writer Michelle Chapman contributed to this report from New York. The rest is here: Top 2 booksellers report losses, their shares fall (AP)

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HARTFORD, Conn. (AP) — The oil and gas subsidiary of General Electric Co. said Tuesday it is operating the first gravity-based offshore liquefied natural gas terminal that is expected to save time in the construction of an LNG project off Italy’s northeast coast in the Adriatic Sea. GE Oil and Gas has installed the artificial island gravity-based structure, which is owned and operated by Adriatic LNG. The project includes a reinforced concrete box on the sea floor and houses two LNG storage tanks. It’s 1,230 feet long by 377 feet wide. Tony Mercer, project manager for Aker Kvaerner Contracting International, Adriatic LNG’s primary contractor, said the GE Oil and Gas project will help save time in construction and commissioning of the LNG project. The Adriatic LNG terminal will significantly increase Italy’s regasification capacity, is larger than two soccer fields and reaches as high as a 10-story building. It has two LNG tanks with a combined annual capacity of 8 billion cubic meters, or about 10 percent of Italy’s annual gas demand. The Adriatic LNG terminal receives shipments from Qatar, Egypt and Trinidad twice a week. The LNG is regasified at the terminal and dispatched to Italy’s gas network. Shares of GE, based in Fairfield, Conn., rose 13 cents, to $16.15 in afternoon trading. See the rest here: GE Oil & Gas installs LNG terminal in Adriatic (AP)

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Deere & Co., the world’s largest maker of farm equipment, reports earnings for its fiscal fourth quarter on Wednesday before the market opens. Below is a summary of key developments and analyst opinion related to the period. OVERVIEW: Sluggish economic conditions in the U.S. and much of the rest of the world continued to drive down demand for farming and construction equipment, two of Deere’s key products. Farm commodity prices in particular show little sign of rebounding to anything like the bubble highs of the past couple of years — a period when many farmers bought new equipment. The Moline, Ill.-based company in August cut sales projections for the year, saying it expects its biggest single-year drop in at least 50 years. But Deere, the world’s largest maker of farm equipment, reiterated an annual profit forecast of $1.1 billion. And the company has started calling back some workers it laid off earlier this year in response dropping demand. More than 450 employees of an Iowa farm equipment plant were called back last month to start production of 2010 models. Samuel R. Allen became Deere’s president and CEO in the third quarter, succeeding Robert W. Lane. But few, if any, analysts expect significant changes, particularly in Deere’s focus on markets outside North America, which accounts for more than half of the company’s agricultural sales, its biggest source of revenue. Deere in late August said it will spend $125 million on a new manufacturing and parts center in Russia. BY THE NUMBERS: Analysts surveyed by Thomson Reuters, on average, expect a profit of 3 cents per share on revenue of $4.44 billion. In the year-earlier period, Deere posted a profit of 81 cents per share on revenue of $6.73 billion. ANALYST TAKE: Longbow Research analyst Eli Lustgarten expects Deere to report a profit of 2 cents per share and sees difficult quarters ahead since farm commodity prices have fallen and aren’t expected to rebound soon. “Virtually all of (Deere’s) current earnings stem from the farm equipment sector and anecdotal evidence from the farm belt has suggested increased caution over the past few months in regards to farm equipment purchases, largely because it is not necessary to replace existing equipment (after two strong years of buying) and because the expected business outlook/expansion does not merit new purchases,” Lustgarten wrote in a note to investors. WHAT’S AHEAD: Though Allen is new and some analysts see the company taking a close look at its strategy, Barclays Capital analyst Meredith Taylor wrote that the company is unlikely to shift its focus from emerging markets and other growth opportunities. Deere hasn’t provided an outlook for fiscal 2010, “but we think that management looks for mixed trends by geography,” Taylor wrote. Her firm sees stronger trends in Latin America and continued difficulties in Europe. STOCK PERFORMANCE: During the quarter, Deere shares rose 4.8 percent to finish at $45.55 on Oct. 30. Over the past year, the stock has traded between $24.51 and $53.59 per share. See the original post: Earnings Preview: Deere 4th-quarter results (AP)

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By Ka Yan Ng TORONTO (Reuters) – Toronto’s main stock index was lower on Tuesday morning due to weakness in commodity shares and evidence of a slow recovery in the U.S. economy. Strength in banking stocks stemming from firm Bank of Montreal quarterly results cushioned the fall. The top five spots the market’s list of risers were held by big banks. Bank of Montreal reported a higher-than-expected 16 percent increase in quarterly profit and said it was buying the Diners Club North America credit card business, a deal that would double its corporate card portfolio. BMO shares gained 0.5 percent to C$53.80. Toronto-Dominion Bank was up 0.27 percent at C$67.53. Resource shares were big decliners on Tuesday, led by a 1.7 percent drop in fertilizer company Potash Corp to C$118.25. Lower oil prices and a recent run-up in commodity stocks also put pressure on companies such as diversified miner Teck Resources , down 2.2 percent at C$36.55, and oil producer EnCana Corp , down 0.54 percent at C$55.60. “I think it’s just an overall sell off in the market today. It had a pretty nice run in some of these commodities so it was ripe for some profit-taking,” said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. At 10:40 a.m., the S&P/TSX composite index was down 25.50 points, or 0.22 percent, at 11,599.28, after opening higher. The U.S. economy grew more slowly than first thought in the third quarter, but house prices rose for the fifth straight month in September and U.S. consumer confidence was up in November, suggesting a slow economic recovery is still intact. “I think it just confirms that we’re in a slow recovery here. It’s good to see a positive but it wasn’t as positive as people were expecting,” Nakamoto said. ($1=$1.06 Canadian) (Editing by Peter Galloway) See the original post here: TSX falls on commodities, but banks rise

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ALBANY, N.Y. (AP) — New York’s top court ruled Tuesday that the state can use eminent domain to force homeowners and businesses to sell their properties for a massive development in Brooklyn that includes a new arena for the New Jersey Nets. In a 6-1 ruling Tuesday, the Court of Appeals said the Empire State Development Corp.’s finding that the area was blighted was enough to justify taking the land. A group of tenants and owners claim the seizure is unconstitutional. They argue that developer Bruce Ratner’s proposed $4.9 billion, 22-acre Atlantic Yards project mainly enriches private interests, while the state constitution requires public use for taking land. “The constitution accords government broad power to take and clear substandard and insanitary areas for redevelopment,” Chief Judge Jonathan Lippman wrote for the majority. “In so doing, it commensurately deprives the judiciary of grounds to interfere with the exercise.” Ratner’s proposed development includes office towers, apartments and a new arena for the NBA’s Nets. A key element in his plan is selling majority team ownership to Russian entrepreneur Mikhail Prokhorov. In a prepared statement, Ratner said construction will continue, with the intent that the Nets will play ball there in the 2011-2012 season. “Once again the courts have made it clear that this project represents a significant public benefit for the people of Brooklyn and the entire city,” Ratner said. “Our commitment to the entire project is as strong today as when we started six years ago.” The attorney for homeowners and tenants who declined to sell after the project was announced in 2003 said the fight isn’t over. Matthew Brinckerhoff said his clients will oppose the ESDC when the urban development agency goes to court in Brooklyn in the second step of the process to take the properties. “They have won round one, and we still have round two to go,” Brinckerhoff said. “I think everybody believes that they need to do a number of things by the end of the year, and where exactly this fits into that process I’m not sure. But the fact that they haven’t yet taken the properties can’t be helping them.” Calls to the ESDC were not immediately returned Tuesday. Lippman noted that the law empowering the government in the 1930s to partner with private entities to deal with the emerging problem of slums was intended also to create replacement low-cost housing. This plan instead is aimed at “alleviating relatively mild conditions of urban blight,” mainly a railyard, and there were only 146 people living within the project boundaries when the final environmental study was done, he wrote. In a dissent, Judge Robert Smith said the court majority was “much too deferential to the self-serving determination by the ESDC that petitioners live in a ‘blighted’ area, and are accordingly subject to having their homes seized and turned over to a private developer.” The record does not support the state agency’s finding, Smith said. While the blight is documented at northern end of the project site, the southern part “appears … to be a normal and pleasant residential community,” he said. Read the original: Court: NY can seize property for new NJ Nets arena (AP)

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WASHINGTON (AP) — The economy is growing modestly, with consumers too wary about spending to invigorate the recovery. AP – In this Sept. 3, 2009 photo workers build a new commercial building in Warrensville Heights, Ohio. The economy … That picture emerged Tuesday from reports on the nation’s economy and the confidence of consumers, who power 70 percent of it. The economy grew at a 2.8 percent rate last quarter — less than originally estimated. And forecasts for the current quarter are for similarly slight growth before a drop-off next year. The main reasons are that consumers remain reluctant to spend, commercial construction has slipped and imports are dampening U.S. growth. The Commerce Department’s new reading on gross domestic product was weaker than the 3.5 percent growth rate for the July-September period estimated just a month ago. The GDP, which measures the value of all goods and services produced in the United States, also was a tad weaker than the 2.9 percent growth rate that economists surveyed by Thomson Reuters had expected. At the same time, the Conference Board’s latest survey of consumer confidence found that as retailers enter the crucial holiday season, shoppers remain gloomy. Unemployment and tight credit have sapped consumers’ willingness and ability to spend freely. Also Tuesday, the Standard & Poor’s/Case-Shiller home price index of 20 major cities suggested that the housing market’s recovery is continuing, if only gradually. Home prices rose slightly in September. Compared with a year earlier, though, they remain down 9.4 percent. The lackluster reading on economic growth and consumer confidence caused stocks to retreat from their 13-month highs. The Dow Jones industrial and other stock averages were down slightly in midmorning trading. The good news is that the economy finally started to grow again after a record four straight losing quarters. The bad news is that the rebound, now and in the months ahead, probably will be lethargic. The worst recession since the 1930s is very likely over, but the economy’s return to good health will take time, Fed officials and economists say. Growth probably won’t be strong enough to quickly drive down the nation’s unemployment rate, currently at 10.2 percent. Some analysts think it could climb as high as 11 percent by the middle of next year before making a slow descent. It could take at least four years for the unemployment rate to drop back down to more normal levels. For the current quarter, some economists think economic growth will slow to around a 2.5 percent pace, though others say it could reach 3 percent if holiday sales turn out better than expected. Most say they think the economy will weaken again next year, with growth at a pace of around 1 percent as the impact of the $787 billion stimulus package fades and consumers keep tightening their belts under the strain of high unemployment and hard-to-get credit. Much of the economy’s return to growth last quarter reflected federal support for spending on homes and cars. But Tuesday’s report shows that some of that spending was a bit less robust than initially thought. Spending on homes and other residential projects soared at an annualized pace of 19.5 percent last quarter, a little slower than the 23.4 percent rate first estimated. Spending on big-ticket “durable” goods — including cars — jumped at a pace of 20.1 percent, down from 22.3 percent. Even with the downward revisions, it was notable that such spending grew, after falling in the previous quarter. In the third quarter, the popular Cash for Clunkers rebates and an $8,000 tax credit for first-time homebuyers juiced up sales of cars and homes. The clunkers program ended in August, but the tax credit has been extended and expanded beyond first-time buyers. What’s not clear is whether the recovery can continue after government supports are gone. If consumers clam up, the economy could tip back into recession. Tuesday’s report showed that overall consumer spending grew at a pace of 2.9 percent last quarter. That was down from a 3.4 percent growth rate first estimated, though it marked the best showing since early 2007. On the business side, companies cut back spending on commercial construction — a weak spot in the economy — at 15.1 percent annualized pace. That was deeper than the 9 percent annualized cut back first estimated. Businesses also trimmed stockpiles of goods by $133.4 billion last quarter, slightly more than initially estimated. And the nation’s trade deficit ended up shaving 0.83 percentage point off GDP last quarter, more than first thought. Unlike past rebounds that were driven by the spending of everyday Americans, this one appears to hinge on spending by businesses, foreigners and — until it runs out — the government. And in an encouraging note, businesses after-tax profits grew at a 13.4 percent pace last quarter, up from a 0.9 percent pace in the prior period, Tuesday’s report showed. The government makes three estimates of economic activity for any given quarter. Each is based on more complete data. Tuesday’s was the second reading of the third-quarter GDP data. Link: Economy’s rebound not as strong as first thought (AP)

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NEW YORK (AP) — Stocks retreated from 13-month highs after a lackluster reading on consumer confidence and a report showing slower economic growth sapped the market’s optimism. Major indexes were slightly lower Tuesday after the Conference Board said its Consumer Confidence Index increased to 49.5 in November from a revised reading of 48.7 in October. While better than expected, the report shows that consumers remain gloomy heading into the holiday season. A reading above 90 means the economy is on solid footing. Stocks had already been falling in morning trading after the government revised its calculation of third-quarter economic growth down to 2.8 percent from its original estimate of 3.5 percent, the latest sign that the recovery is likely to be slow and bumpy. The decline in stocks came after a big rally on Monday carried the Dow Jones industrials up 133 points to their highest level in just over a year. A weakening dollar and an upbeat report on housing lured investors back into stocks after a three-day losing streak. The dollar bounced back on Tuesday, hurting stock market sentiment. The dollar’s weakness has been a big driver behind higher stock prices this year. Investors have been taking advantage of record-low interest rates to invest in assets other than cash that can earn them better returns. As the end of the year approaches, however, investors have become hesitant to take on more risk and potentially upset the big gains they’ve amassed since stocks began rallying in March. That desire for safety helps push up the dollar and other safe-harbor investments like Treasurys at the expense of the stock market. The Dow fell 22.68, or 0.2 percent, to 10,428.27. The Standard & Poor’s 500 index lost 1.03, or 0.1 percent, to 1,105.21, while the Nasdaq composite index fell 8.63, or 0.4 percent, to 2,167.38. About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to a relatively low 240.8 million shares, compared with 284.4 million at the same time on Monday. Analysts expect trading to be choppy this week amid light trading volume heading into the Thanksgiving holiday. A report earlier Tuesday showing the fourth straight month of improving house prices in September did little to shore up investor confidence. The Standard & Poor’s/Case-Shiller home price index rose 0.3 percent in September from the previous month. Investors have been battling mixed signals on the economy in recent months. Areas like housing have shown modest improvements, but others like consumer confidence and employment are lagging. That has investors worried that their bets on an economic recovery over the past eight months may have been overdone. The Standard & Poor’s 500 index is up 63.5 percent since early March. A stronger dollar put pressure on the shares of commodities and materials producing companies. When the dollar rises, it makes commodities and commodities-related products more expensive for buyers overseas. The ICE Futures US dollar index, a widely used measure of the dollar against other currencies, rose x percent in morning trading. Oil prices fell $1.24 to $76.32 a barrel on the New York Mercantile Exchange. Gold prices rose slightly. Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.35 percent from 3.36 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.05 percent from 0.03 percent. In other trading, the Russell 2000 index of smaller companies fell 5.41, or 0.9 percent, to 589.40. Overseas, China’s Shanghai index fell 3.5 percent, its biggest decline in three months, while Japan’s Nikkei stock average fell 1 percent. In afternoon trading, Britain’s FTSE 100 rose 0.3 percent, Germany’s DAX index gained 0.1 percent, and France’s CAC-40 slipped 0.1 percent. View original post here: Reports on consumer confidence, GDP tug at stocks (AP)

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WASHINGTON (AP) — The summer’s trend of rising home prices is flattening as the traditional home shopping season ends, two reports Tuesday showed. AP – In this Oct. 15, 2009 photo, a sign for a newly-constructed home advertises a financing rate in Chagrin … {”s” : “bac,c,fnm,fre,jpm,wfc”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The Standard & Poor’s/Case-Shiller home price index of 20 major cities rose 0.3 percent to 144.96 in September, the fourth monthly increase in a row. The seasonally adjusted index is now up more than 3 percent from its bottom in May, but still 30 percent below its peak in April 2006. Another reading of home prices published by the Federal Housing Finance Agency held steady from August to September. Analysts expect prices to dip again this winter as foreclosures increase. “As long as the unemployment rate stays elevated, you’re going to see pressure on the pace of foreclosures, which are going to find their way back onto the market, depressing prices,” said Dan Greenhaus, chief economic strategist with Miller Tabak & Co. Home prices are a key ingredient to rebuilding the economy. Homeowners feel wealthier when their property appreciates in value and are more likely to spend money. Rising prices also help millions of homeowners who owe more to the bank than their homes are worth. Currently, roughly one in four homeowners are in that situation, according to First American CoreLogic. While prices nationally are likely to keep rising through November, “we are very worried about the potential for a huge wave of supply next year, both from private sellers and banks,” wrote Ian Shepherdson, chief U.S. economist at High Frequency Economics. “Prices could easily reverse their recent gains.” Home prices rose in 11 major cities with the strongest gains in San Francisco and Minneapolis, according to the Case Shiller report. Prices fell by the most in Las Vegas and Cleveland. Compared with a year earlier, the 20-city index was down 9.4 percent, the smallest year over year decline since January 2008. “With housing remaining an albatross around the economy’s neck, nothing would perk things up more than some increases in home prices,” wrote Joel Naroff, chief economist at Naroff Economic Advisors. “That seems to be happening.” The price reports came a day after the National Association of Realtors said home resales surged by more than 10 percent in October as buyers took advantage of a special tax credit for first-time owners. Read this articl e: Home prices rise for 4th month in a row (AP)

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By Ryan Vlastelica Reuters – Phones hang from a trading terminal on the floor of the New York Stock Exchange, May 19, 2009. … {”s” : “dltr,hpq,mdt”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} NEW YORK (Reuters) – U.S. stocks fell on Tuesday, a day after the Dow hit a 13-month high, after data showed an improving economy, but at a slower rate than expected. Growth domestic product grew a hair less than forecast in the third quarter, at a 2.8 percent annual rate. The expansion could signal an end to the recession, but stock investors need to see hearty advancement to support further gains after a 22 percent rise in the S&P 500 this year. Standard & Poor’s/Case-Shiller housing data was equally disappointing, rising in September, but at a much less robust rate than expected. The Dow Jones U.S. Home Construction index (DJI: ^DJUSHB – News ) fell 1.7 percent. “If we want to get this economy going, if we want to get this economy recovering and add jobs, we’re going to want to see better numbers than we are seeing,” said Richard Sparks, a senior equities analyst with Schaeffer’s Investment Research in Cincinnati. The Dow Jones industrial average (DJI: ^DJI – News ) dropped 23.96 points, or 0.22 percent, to 10,426.76. The Standard & Poor’s 500 Index ( ^SPX – News ) shed 1.67 points, or 0.10 percent, to 1,105.08. The Nasdaq Composite Index (Nasdaq: ^IXIC – News ) fell 8.94 points, or 0.41 percent, to 2,167.08. The Conference Board’s U.S. consumer confidence index rose to 49.5 in November, above the analysts’ expectation of 47.7. The market trimmed losses at midmorning after the consumer confidence data. Hewlett-Packard Co (NYSE: HPQ – News ) shares slid 1.5 percent to $50.24 a day after it reported a quarterly profit that matched its preliminary results. It also said the economy remained challenging, though it saw signs of a recovery. Earlier Tuesday, both Medtronic Inc (NYSE: MDT – News ) and Dollar Tree Inc (NasdaqGS: DLTR – News ) reported quarterly earnings that estimates. Medtronic gained 6 percent to $42.70, while Dollar Tree climbed 4.6 percent to $51.34. Read the original post: GDP, Case/Shiller muddy recovery hopes (Reuters)

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Oil prices fell below $76 a barrel Tuesday with new data showing a slow U.S. economic recovery and consumer confidence that remains luke warm at best. The dollar also gained against other major currencies, which can keep energy prices in check. Benchmark crude for December delivery fell $1.41 to $76.15 a barrel on the New York Mercantile Exchange. The Commerce Department said the economy grew at a rate of 2.8 percent between July and September, short of estimates for 3.5 percent growth released just a month ago. Consumers are not spending much, commercial construction was weak, businesses trimmed inventories. The lack of consumer spending was partly explained in another report released Tuesday. Americans’ confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the holiday shopping season, according to the monthly survey released by the Conference Board. The lack of industrial and consumer activity has played out in weekly oil inventory reports from the Energy Department, with supplies of crude in storage growing. The next weekly report arrives Wednesday, and expectations are that crude and gasoline supplies grew again last week. Retail prices edged lower again, falling less than a penny to $2.638 per gallon Tuesday. That’s a lot more than last year at this time, when gasoline prices plunged to about $1.91 as the economic crisis unfolded. Still, gasoline prices are being supported by crude, which as traded between $76 and $82 for more than a month. That is largely being blamed on the dollar because oil is bought and sold in the U.S. currency. Investors holding euros or other currencies can buy more oil when the dollar falls. Crude prices rose Monday when the dollar fell. On Tuesday, the dollar gained against the euro, yen, and British pound. Oil prices fell as much as 2 percent. In other Nymex trading, heating oil fell about 3 cents to $1.9502 a gallon. Gasoline for December delivery dropped 2.78 cents to $1.9516 a gallon. Natural gas for December delivery fell 7.2 cents to $4.40 per 1,000 cubic feet. In London, Brent crude for January delivery dropped 92 cents to $76.54 on the ICE Futures exchange. Associated Press Writers Alex Kennedy in Singapore, Barry Hatton in Lisbon, Portugal, and Jeannine Aversa in Washington contributed to this report. Read the r est here: Crude prices near $76 per barrel (AP)

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NEW YORK (AP) — Americans’ confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the traditional start of the holiday shopping season amid a weak job market, according to a monthly survey. AP – In this photo made Thursday, Oct. 15, 2009, Antionette Harris shops at a Target store in Philadelphia. Americans’ … The Conference Board, based in New York, said Tuesday that its Consumer Confidence Index edged up to 49.5, up from a revised reading of 48.7 in October. Economists surveyed by Thomson Reuters expected a reading of 47.7. The index, which hit a historic low of 25.3 in February, had enjoyed a three-month climb from March through May, fueled by signs that the economy might be stabilizing. The road has been bumpier since June as rising unemployment has taken a toll on consumers. A reading above 90 means the economy is on solid footing. Above 100 signals strong growth. One component of the Conference Board’s confidence gauge that measures consumers’ assessment of the current economy fell slightly to 21.0, compared with 21.1 in October. The other that measures shoppers’ outlook over the next six months increased slightly to 68.5 from 67.0 in October. “Income expectations remain very pessimistic and consumers are entering the holiday season in a very frugal mood,” said Lynn Franco, director of The Conference Board Consumer Research Center in a statement. Economists watch consumer sentiment because spending on goods and services for consumers accounts for about 70 percent of U.S. economic activity by federal measures. While the reading doesn’t always predict short-term spending, it does serve as a barometer of spending levels over time, especially for big-ticket items. Retail sales showed some signs of life in September and October, with major merchants collectively posting two consecutive monthly gains in sales in more than a year, according to the International Council of Shopping Centers-Goldman Sachs Index. That followed more than a year of declines as shoppers shut their wallets tight. But business still remains weak and shoppers are still focused on necessities like socks, coats and underwear. Experts say depressed spending is likely to persist for several years amid stubbornly high unemployment. The unemployment rate is now at 10.2 percent, the highest in 26 years, and 15.7 million Americans out of work. Meanwhile, the housing market has showed signs of improvement, but overall the sector is still tepid. A housing report announced Tuesday showed home prices improved for the fourth straight month in September, though only in 11 out of 20 major metropolitan areas. The Standard & Poor’s/Case-Shiller home price index, which tracks prices in 20 major metropolitan markets, rose 0.3 percent in September. The Conference Board’s confidence survey, which is based on a representative sample of 5,000 U.S households, showed that shoppers’ assessement of the job market remains weak. The cutoff for the preliminary results wsa Nov. 17. Those claiming jobs are “hard to get” increased to 49.8 percent from 49.4 percent, while those claiming jobs are “plentiful” decreased to 3.2 percent from 3.5 percent. Consumers’ short-term outlook improved slightly in November, but that’s because those expecting conditions to worsen decreased to 15.1 percent from 18.2 percent, Franco said. The percentage of consumers expecting an improvement in business conditions over the next six months decreased slightly to 20.0 percent from 20.8 percent. Those anticipating more jobs in the months ahead declined to 15.2 percent from 16.8 percent. But those expecting fewer jobs declined to 23.1 perent from 26.1 percent. The proportion of consumers expecting an increase in their incomes decreased to 10.0 percent from 10.7 percent. Read the r est here: Consumer confidence improves slightly in November (AP)

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CALGARY, Alberta, Nov. 24, 2009 (GLOBE NEWSWIRE) — Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on NexMed, Inc. (Nasdaq: NEXM – News ). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community. To view the Report in its entirety visit: http://www.emergingstockreport.com To get our alerts AHEAD of the market follow us on Twitter: http://twitter.com/EmergingStockRe About ESR: Emerging Stock Report is a leading provider of independent investment research for North American companies. Our services include research analysis on emerging growth companies, sector specific research, real-time news and financial data, market commentary and the ESR newsletter. Emerging Stock Report’s staff of investment professionals are dedicated to providing the the tools and resources necessary to help make important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, visit http://www.emergingstockreport.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at http://emergingstockreport.com/register.php About NexMed, Inc.: NexMed’s pipeline includes a late stage terbinafine treatment for onychomycosis, a late stage alprostadil treatment for erectile dysfunction, a Phase 2 alprostadil treatment for female sexual arousal disorder, and an early stage treatment for psoriasis. For further information, go to www.nexmed.com . ESR Disclosure: Emerging Stock Report is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Emerging Stock Report has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, http://www.EmergingStockReport.com , for complete risks and disclosures. Follow this link: Emerging Stock Report Initiates Independent Research Coverage on NexMed, Inc. (GlobeNewswire)

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CALGARY, Alberta, Nov. 24, 2009 (GLOBE NEWSWIRE) — Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on AgFeed Industries, Inc. (Nasdaq: FEED – News ). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community. To view the Report in its entirety visit: http://www.emergingstockreport.com To get our alerts AHEAD of the market follow us on Twitter: http://twitter.com/EmergingStockRe About ESR : Emerging Stock Report is a leading provider of independent investment research for North American companies. Our services include research analysis on emerging growth companies, sector specific research, real-time news and financial data, market commentary and the ESR newsletter. Emerging Stock Report’s staff of investment professionals are dedicated to providing the the tools and resources necessary to help make important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, visit http://www.emergingstockreport.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at http://emergingstockreport.com/register.php About AgFeed Industries, Inc.: AgFeed Industries ( www.agfeedinc.com ) is a U.S. company with its primary operations in China. AgFeed has two profitable business lines — animal nutrients in premix and blended animal feed and hog production. AgFeed is one of China’s largest commercial hog producers in terms of total annual hog production as well as one of the largest premix feed companies in terms of revenues. China is the world’s largest hog producing country that produced over 625 million hogs in 2008, compared to approximately 100 million hogs produced annually in the U.S. China also has the world’s largest consumer base for pork consumption. Over 62% of total meat consumed in China is pork. Hog production in China enjoys income tax free status. The pre-mix feed market in which AgFeed operates is an approximately $1.6 billion segment of China’s $40 billion per year animal feed market, according to the China Feed Industry Association. ESR Disclosure : Emerging Stock Report is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Emerging Stock Report has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, http://www.EmergingStockReport.com , for complete risks and disclosures. See the rest here: Emerging Stock Report Initiates Independent Research Coverage on AgFeed Industries, Inc. (GlobeNewswire)

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TEMPE, Ariz. (AP) — US Airways said Tuesday it will delay delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength. AP – FILE – In this Oct. 26, 2009 file photo, a US Airways plane takes off from Miami International … {”s” : “lcc”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The company said delaying the deliveries will reduce its aircraft capital expenditures over the next three years by $2.5 billion. US Airways instead will take delivery of 28 planes over the next three years, which it called a more manageable pace during an airline industry slump. The carrier has financing in place for those 28 planes, including commitments for $275 million in loans for aircraft it will receive next year. CEO Doug Parker said in a message to employees that the moves will boost the company’s available cash by about $150 million this year and $450 million by the end of 2010. Airline traffic has been weak this year, and several major U.S. carriers have raised cash to get through the slow fall and winter seasons. US Airways, based in Tempe, Ariz., was scheduled to add the Airbus jets over the next three years to replace older jets in the airline’s fleet. Parker said the deferrals will let the company “maintain flexibility in a challenging economic environment.” He said the company would keep its older jets until the new delivery dates, so the move won’t significantly affect the airline’s passenger-carrying capacity. The company also said that Barclays, which provides US Airways’ affinity credit card, eased financial terms of their agreement and will delay repayment of a $200 million advance for 14 months. Barclays advanced the money when it bought frequent-flier miles from the carrier. US Airways lost $125 million in the first nine months of this year on lower revenue, after losing $2.1 billion last year. “The past two years have been exceptionally difficult for our industry and US Airways,” Parker told employees. He said the company was fortunate to have partners willing to help, but “we cannot continue to lose money indefinitely and fund our losses through financing and partner support.” Shares of US Airways rose 8 cents, or 2.6 percent, to $3.18 in morning trading. See the article here: US Airways defers delivery of 54 aircraft (AP)

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WASHINGTON (AP) — The apparent end of the recession and stabilizing financial markets have not cured the banking industry, the Federal Deposit Insurance Corp. said Tuesday. Banks earned $2.8 billion in the third quarter, but loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red. Souring loans continued to hurt bank balance sheets, but they were buoyed by higher operating revenues and a revived market for securities, the FDIC said. The number of banks on the FDIC’s “problem list” rose to 552 from 416 on June 30, the highest level in 16 years. Fifty banks failed during the quarter — the largest number since the second quarter of 1990. The FDIC’s fund that insures bank deposits fell by $18.6 billion, mostly because $21.7 billion was set aside for expected losses on future bank failures. The FDIC voted this month to require banks to prepay three years of deposit insurance premiums at the end of the year to help replenish the dwindling fund, which is at its lowest point on record. The last similar deficit was in Dec. 1991, when a predecessor fund was more than $7 billion in the red. Bank failures this year through 2013 are expected to cost the fund $100 billion — mostly in 2009 and 2010. But depositors’ money — insured up to $250,000 per account — is not at risk, with the FDIC backed by the government. Bank profits returned in the third quarter after a $4.3 billion loss in the previous quarter and $879 million in earnings last year. “While bank and thrift earnings have improved, the effects of the recession continue to be reflected in their financial performance,” FDIC Chairman Sheila Bair said. A 2.8 percent drop-off in loans outstanding — the largest percentage decline on record — showed that credit for consumers and businesses remained tight, she said. “There is no question that credit availability is an important issue for the economic recovery,” Bair said. “We need to see banks making more loans to their business customers,” especially small businesses. Read the original: Banks earn $2.8B in 3Q; insurance fund in the red (AP)

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WORCESTER, Mass.–(BUSINESS WIRE)–Advanced Cell Technology, Inc. (OTCBB: ACTC – News ), a biotechnology company applying cellular technology in the field of regenerative medicine, announced today that it will present at the LD Micro Conference on Thursday December 3, 2009 at 4:30 p.m. (PST) at the Luxe Hotel in Los Angeles. ACT’s Chairman and CEO, William M. Caldwell IV, will present a corporate overview and provide an update on clinical activities. The Company recently filed an IND application with the FDA to initiate a Phase I/II multicenter study using embryonic stem cell derived retinal cells to treat patients with Stargardt’s Macular Dystrophy (SMD),. The Conference brings together 75 presenting companies with over 100 institutions focused on investing in small and micro cap companies across a breadth of industries. About Advanced Cell Technology, Inc. Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the field of regenerative medicine. For more information, visit http://www.advancedcell.com . Forward-Looking Statements Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company’s periodic reports, including the report on Form 10-QSB for the quarter ended September 30, 2007. Forward-looking statements are based on the beliefs, opinions, and expectations of the company’s management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. Forward-looking statements are based on the beliefs, opinions, and expectations of the company’s management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. Follow this link: Advanced Cell Technology to Present at LD Micro Conference in Los Angeles (Business Wire)

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NEW YORK (AP) — Medtronic reported a surprising 59 percent boost in second-quarter profit Tuesday, as increased sales of implantable heart devices defied reports of weakening demand from competitors. AP – FILE – In this Aug. 16, 2005, the “Rising Man” symbol stands in front of the Fridley, Minn., … {”s” : “bsx,mdt,stj”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The sales gains during the quarter prompted the world’s largest medical device maker to boost its full-year guidance, sending its shares up more than 7 percent in morning trading. The Minneapolis company earned $868 million, or 78 cents per share, in the quarter ended Oct. 30, up from $547 million, or 48 cents per share, a year ago. Excluding a litigation gain and other items, adjusted income totaled $850 million, or 77 cents per share. Revenue jumped 8 percent to $3.84 billion from $3.57 billion. Analysts expected profit of 74 cents per share on revenue of $3.75 billion, according to a survey by Thomson Reuters. It was the second consecutive quarter in which the company beat Wall Street expectations. “Sales outperformance could suggest market share stabilization after several consecutive quarters of erosion in these business,” Leerink Swann analyst Rick Wise wrote in a note to investors. Sales growth for the company’s cardiac-pacing division, its largest, have been sluggish following safety concerns and reduced spending by hospitals. Analysts largely expected another quarter of slow sales after rivals St. Jude Medical and Boston Scientific Corp. reported weakening demand for heart implants earlier this fall. But Medtronic reported a 3 percent rise in sales of heart devices to $1.28 billion, including $754 million in sales of implantable cardioverter defibrillators, the company’s best-selling products. Defibrillators use electrical shocks to correct abnormal heart beats that could be deadly. Sales of pacemaker products, which use low-voltage electrical currents to keep hearts beating, were $498 million. Wise said the company’s results suggest device sales were impacted by a summer slowdown, but that overall demand remains strong. Robust stent sales helped the company’s cardiovascular revenue grow 17 percent to $696 million. Stents are tiny mesh-metal tubes used to prop open arteries after they have been cleared of fatty plaque. Meanwhile, spinal revenue rose 4 percent to $862 million, and sales in the neuromodulation unit rose 12 percent to $384 million. Neuromodulation implants are designed to treat pain and other conditions through by stimulating the nervous system. Diabetes revenue rose 10 percent to $300 million, surgical technologies revenue grew 5 percent to $224 million, and physio-control revenue grew 25 percent to $94 million. Looking ahead, Medtronic expects full-year profit between $3.17 and $3.22 per share. Analysts expect $3.15 in fiscal 2010 profit. Medtronic shares rose $2.73, or 6.8 percent, to $43.03 in morning trading. Earlier the stock set a 52-week high of $43.65. Visit link: Medtronic 2Q profit rises 59 percent on sales (AP)

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DALLAS, Nov. 24, 2009 (GLOBE NEWSWIRE) — BeaconEquity.com announces an investment report featuring Origin Agritech Ltd. (Nasdaq: SEED – News ). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision. The investment report on Origin Agritech Ltd. (Nasdaq: SEED – News ) should be of particular interest to other crop seed and agricultural companies: Monsanto Co. (NYSE: MON – News ), Syngenta AG (NYSE: SYT – News ) and Bunge Ltd. (NYSE: BG – News ). It is available at: http://www.beaconequity.com/i/SEED Get our alerts BEFORE the rest of the market. Follow us on Twitter: http://twitter.com/BeaconEquity Origin Agritech Limited (SEED) is a technology-focused crop seed company serving mainland China. The Company’s activities include specialization in the research and development, production, and sales and marketing of crop seeds (corn, rice, cotton and canola) throughout the People’s Republic of China. SEED, together with State Harvest Holdings Limited, conducts operations in China primarily through its People’s Republic of China (PRC) Operating Companies. In the report, the analyst notes: “The corn hybrids, which SEED produces and distributes include self-developed Aoyu, Deyu series, and some other licensed hybrids, can be classified into two categories, conventional and specialty corn. To date, 68 corn products have entered into state or provincial trial, among which 45 products obtained government approval including 12 with state approval. The Company’s Linao 1 and Yuyu 22 were awarded ‘Houji Golden Prize’ and ‘Second Prize for State Advance Science & Technology’ respectively. “The Company’s corn hybrids cover the spring planting region in northeast, central and southwest, and the summer planting region in Yellow river and Huai river and central area of China. SEED’s sales area covers all corn producing areas from northeast to southwest. Sales volume is among Top 3 in the mainland market.” To read the entire report visit: http://www.beaconequity.com/i/SEED See what investors are saying about these stocks at: http://www.stockhideout.com/ BeaconEquity.com is one of the industry’s largest small-cap report providers. Beacon strives to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in their research and due diligence by providing daily trading ideas, and consolidating the public information available on them. For more information on Beacon Research, please visit http://www.BeaconEquity.com Beacon Equity Disclosure DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Beacon Equity Research nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them. Link: Beacon Equity Issues Technical Trading Overview for Origin Agritech Ltd. (GlobeNewswire)

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LITTLE ROCK, Ark. (AP) — Phone company Windstream is buying Iowa Telecommunications Services for $1.1 billion in cash and stock. Windstream Corp. said Tuesday that the acquisition of Telecommunications Services Inc. will expand its operations into Iowa and Minnesota, adding about 256,000 phone lines, 95,000 high-speed Internet customers and 26,000 video subscribers. The deal is expected to close in mid-2010. Little Rock, Ark. Windstream has been snapping up rural phone companies. Three weeks ago, Windstream said it would buy NuVox Inc. for $643 million. Its acquisition of D&E Communications Inc., announced in May, was approved by Pennsylvania regulators earlier this month. Iowa Telecom shareholders will get 0.804 shares of Windstream stock and $7.90 in cash for each share they own. See the rest here: Windstream to buy Iowa Telecom for $1.1 billion (AP)

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Shares of Chinese Origin Agritech (NASDAQ: SEED – News ) gapped higher again on Tuesday after nearly doubling during the week’s first session. {”s” : “cga,cnh,de,mon,mos,pot,seed”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Beijing-based Origin Agritech surged higher yesterday after China’s Ministry of Agriculture approved the sale of the company’s genetically modified phytase corn. Phytase, according to the press release, aids in phosphorus absorption in animals, and is a mandatory additive for animal feed in Europe, Southeast Asia, South Korea, Japan, and other regions. Origin’s phytase transgenic corn will eliminate the need to purchase phytase and mix it into animal feed, thus reducing expenses related to machinery and labor hours. According to Origin’s website, the company has sent 68 corn products to trial, 45 of which have received government approval. Other products include hybrid rice, cotton, and canola seeds. Momentum from the phytase corn approval carried into today’s session, sending shares higher by 9%. Last week, a number of agricultural stocks were top performers. The Agricultural Chemical and Fertilizer Stocks Index was among tickerspy’s top performers for the period, led by China Green Agriculture (NYSE: CGA – News ), which shot up by 27%. Elsewhere in the fertilizer segment, Potash (NYSE: POT – News ), Monsanto (NYSE: MON – News ), and Mosaic (NYSE: MOS – News ) have all pushed higher in the last five sessions. Last week we covered Jim Cramer’s optimism for the fertilizer stocks , which he suggested were “at a bottom worth playing.” Other agricultural plays can be found in the Farming, Mining, and Construction Machine Stocks Index where Deere (NYSE: DE – News ), CNH Global (NYSE: CNH – News ), and Titan Machinery (NASDAQ: TITN – News ) have all added more than 4% in the last five trading days. Investors looking to bet on the agricultural segment can track the above Indexes for performance trends and a suite of other metrics. Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from stem cells to green energy to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett! See original here: Not You Grandfather’s Ag Stock (Indie Research)

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NEW YORK (AP) — Barnes & Noble on Tuesday posted a loss in the fiscal second quarter and lowered its guidance due to expected weak holiday sales and higher-than-expected costs to ramp up production of its electronic book reader, the Nook. AP – FILE – In this May 18, 2009 file photo, a customer reads magazines inside the Barnes and Noble … {”s” : “bks”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Barnes & Noble launched its e-reader Nook, a competitor with Amazon.com’s popular Kindle, last month and said the device would begin to ship in late November. Last week, it said the Nook had sold out and orders placed beginning Nov. 20 would be fulfilled Jan. 4. On Tuesday, the company said it was ramping up production for the Nook, causing higher-than expected production costs, and said it would increase future investment in its digital strategy. The bookseller’s fiscal second-quarter loss totaled $24 million, or 43 cents per share. That compares with a loss of $16 million, or 34 cents per share, last year. Excluding costs related to purchasing its college bookstore unit from its chairman, the loss totaled 30 cents per share. Revenue rose 4 percent to $1.16 billion from $1.11 billion last year for the period ended Oct. 31. Best sellers included Dan Brown’s “The Lost Symbol,” Jeff Kinney’s “Dog Days” from the “Diary of a Wimpy Kid” series and Mitch Albom’s “Have a Little Faith.” Sales in stores open at least one year, considered a key retail measurement because it excludes the effect of adding or closing stores, fell 3.2 percent. The company, based in New York, now expects fiscal-year earnings of 33 to 63 cents per share, down from previous guidance of 59 to 89 cents per share. Analysts predict a profit of 99 cents per share. It expects sales in stores open at least a year to fall 1 to 3 percent. Traditional bookstores have had rough going because of increased competition from online sellers and discounters. Consumers have also shifted away from discretionary purchases amid tough economic times. Smaller rival Borders Group said lost $38.5 million, or 64 cents per share, in the third quarter. That compares with a loss of $172.2 million, or $2.85 per share, during the same period a year earlier. Its revenue fell 13 percent to $602.5 million. Here is the original post: Barnes & Noble reports 2Q loss, cuts guidance (AP)

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NEW YORK (AP) — News of Kinder Morgan Energy Partners LP’s better-than-expected 2010 dividend estimate prompted an analyst to upgrade his rating for the energy transportation and storage company on Tuesday. On Monday after the closing bell, Kinder Morgan said it expects to pay out an annual cash dividend of $4.40 per unit in 2010, up from $4.20 per unit this year. Chairman and CEO Richard D. Kinder also said the Houston company expects to invest about $1.5 billion in expansions and small acquisitions in 2010. Morgan Keegan analyst John Edwards said the dividend forecast exceeded his forecast of $4.36 per unit. This translates to a $62 to $65 stock price by the end of 2010, or a 10 percent to 14 percent appreciation from Monday’s close, he said, adding that the current stock value presents an attractive entry point. Edwards raised his rating to “Outperform” from “Market Perform.” Shares of Kinder Morgan rose 37 cents to $57 in premarket trading. The stock has traded in a 52-week range of $40.19 to $57.65. Here is the original post: Ahead of the Bell: Kinder Morgan upgraded (AP)

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By Ryan Vlastelica NEW YORK (Reuters) – U.S. stock index futures pointed to a flat open on Tuesday after data showed the U.S. economy grew in the third quarter, but at a slower-than-expected pace. The economy grew at a 2.8 percent annual clip, revised down from 3.5 percent estimated last month, the Commerce Department said. Analysts forecast a 2.9 percent rate. Reduced inventory “sets up for a better fourth quarter GDP with more restocking,” said John Canally, economist at LPL Financial in Boston. “I don’t expect a whole of market reaction. There will be more data later today which will be fresher.” November consumer sentiment data and the September Case/Shiller housing price index are also on tap and could provide insight into how firmly a recovery has taken hold. S&P 500 futures rose 2 points and were modestly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were up 3 points, while Nasdaq 100 futures slid 1.25 points. Hewlett-Packard Co reported a quarterly profit that matched its preliminary results late Monday, and said that while the economy remained challenging, it saw signs of a recovery. (Additional reporting by Richard Leong; editing by Jeffrey Benkoe) The rest is here: Futures little changed after GDP data

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TORONTO (Reuters) – Toronto’s main stock market index could open higher on Tuesday as strong results from Bank of Montreal are expected to shine the spotlight on the Canadian financial sector. Meanwhile, firm gold prices could also help prop up the resource-heavy index. Toronto’s main stock index on Monday pared early gains but ended higher, touching its highest level in nearly 14 months as an early rally in oil prices powered energy stocks, while financials gained ground ahead of a flood of bank earnings reports. Here is some of the news that may affect the market: BANK OF MONTREAL Bank of Montreal said on Tuesday that quarterly profit rose 16 percent as it set aside less money for bad loans. CITIGROUP Citigroup Inc said on Tuesday that it would sell its Diners Club North America credit card business to Canada’s BMO Financial Group, as part of its strategy to shed non-core or unwanted assets. GOLD STEADY Gold inched up on Tuesday as investors favored it as a hedge against medium-term dollar weakness and possible inflation, but remained below the previous session’s record peak as the U.S. currency edged higher. U.S. CRUDE FLAT U.S. crude oil was flat on Tuesday, held down by a firmer dollar, but trade was thin ahead of the U.S. Thanksgiving holiday and data that was expected to show crude stocks rising in the United States. MAGNA INTERNATIONAL Germany’s Porsche aims to cancel a deal that would have Canada’s Magna International build the Porsche Boxster model series under contract, a source familiar with the situation told Reuters. CANADIAN NATIONAL RAILWAY Canadian National Railway Co will implement part of its contract proposals on its Canadian locomotive engineers, the carrier said on Monday. [nN23261031] MANULIFE FINANCIAL Canada’s top life insurer Manulife Financial Corp said it agreed to buy a 49 percent stake in ABN AMRO TEDA Fund Management Co in China for $156 million in cash, following up on pledges to hit the acquisition trail. RIOCAN REIT Canada’s RioCan Real Estate Investment Trust said it plans to sell about 5.5 million units at C$18.35 apiece for gross proceeds of C$100.9 million ($94.7 million). RESEARCH ROUNDUP Following is a summary of research actions on Canadian companies reported by Reuters on Tuesday. * RBC raises Iamgold Corp price target to $21 from $18; Rating Sector Perform * MacQuarie cuts Nexen Inc to Neutral from Outperform * Genuity raises Canadian Western Bank price target to C$27 from C$23; Rating Buy ($1=$1.06 Canadian) (Reporting by Scott Anderson, Editing by Chizu Nomiyama) Read the r est here: TSX may open higher, banks in spotlight

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By Jeremy Gaunt, European Investment Correspondent LONDON (Reuters) – World stocks cut some of their losses on Tuesday as Wall Street looked set to open higher, while the dollar gave up early gains and pushed gold to near a record high. Investors were generally taking profits from Monday’s stock rally, which saw U.S. blue chips gain 1.3 percent and European shares 2 percent. Germany’s Ifo business sentiment survey came in more positive than expected, but there was some concern about the banking sector. A German newspaper reported that the majority owners of WestLB were threatening not to support the stricken German landesbank’s requirement for more capital. Rating agency Standard & Poor’s also said on Monday it found most banks in a global study were weakly capitalised, with Citigroup , UBS and Mizuho Financial Group more than two-thirds below the average. MSCI’s all-country word stock index was down 0.2 percent, well off its daily lows, after gaining 1.7 percent on Monday. But the FTSEurofirst 300 index of top European shares reversed losses to stand 0.1 percent higher. “I don’t see any negatives out there. The economic data is good,” said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin. Some concerns about the U.S. economy were temporarily eased on Monday when data showed sales of previously owned U.S. homes had risen to their highest level in more than 2-1/2 years. Many global stock investors are nonetheless being cautious heading into the year-end, wanting to lock in profits after a very good run in 2009 while also worrying about the true state of the world economy. Earlier on Tuesday, Japan’s Nikkei hit its lowest close in four months, down 1 percent on the day. Japan’s current concerns are focused on worries financial firms will tap the market for equity financing and on a stronger yen hurting the shares of exporters. DOLLAR FIRMS The dollar was flat against a basket of competitors after earlier putting in some gains. It remains down 7 percent for the year, reflecting low U.S. yields on offer. The euro reversed course to stand slightly stronger on the day at $1.4978 and the dollar slipped 0.4 percent to 88.60 yen. Gold reversed as the dollar rose and was selling at around $1,1170 an ounce, about $3 off an all-time peak hit on Monday. Euro zone government bonds rose, with Bund futures at one point reaching their highest level since early October. (Additional reporting by Brian Gorman) Read more: Global stocks weak, dollar flat

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By Ryan Vlastelica NEW YORK (Reuters) – U.S. stock index futures were little changed on Tuesday, ahead of data on third-quarter GDP and consumer confidence and following a strong advance in Monday’s session. The preliminary estimate on gross domestic product growth, November consumer sentiment data as well as the September Case/Shiller housing price index could provide insight into how firmly a recovery has taken hold. “The data is going to be the market driver today, and after the rally we had yesterday, investors are waiting to see what the data comes in at before they jump in one way or the other,” said Peter Cardillo, chief market economist at Avalon Partners in New York. “The market’s momentum is still to the upside, so if the data is better than expected, we could see another strong rally.” Hewlett-Packard Co reported a quarterly profit that matched its preliminary results late Monday, and said that while the economy remained challenging, it saw signs of a recovery. H.J. Heinz Co posted a drop in second-quarter earnings on Tuesday, but lifted its full-year profit view. Analog Devices Inc and Brocade Communications Systems Inc both reported quarterly results that beat expectations late Monday. Analog Devices also forecast higher profit margins. Investors have been closely watching the technology sector, which is generally considered one of the first to recover from recession. S&P 500 futures rose 2.3 points and were modestly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were up 2 points, while Nasdaq 100 futures added 0.25 points. In overseas markets, Hong Kong and China stocks fell, with the Shanghai composite index off 3.5 percent, dragged down by banks. European stocks were little changed, though financials were pressured. Kenneth Feinberg, the Obama administration’s pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc for 2010, the Wall Street Journal reported, citing sources. U.S. stocks snapped a three-day losing streak on Monday, as stronger-than-expected home sales data fueled optimism while a weaker dollar boosted commodity-linked stocks. Read the original post: Futures flat ahead of data, after HP results

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By Jan Harvey LONDON (Reuters) – Gold inched up on Tuesday as investors favored it as a hedge against medium-term dollar weakness and possible inflation, but remained below the previous session’s record peak as the U.S. currency edged higher. The prospect of further dollar weakness and more gold buying by the official sector firmly underpinned prices, analysts said. Spot gold was bid at $1,169.50 an ounce at 1221 GMT, against $1,165.85 late in New York on Monday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $5.50 to $1,170.20 an ounce. Gold prices have rallied 12 percent since the beginning of November, when reports emerged that India’s central bank had bought 200 tons of gold from the IMF. Russia, Sri Lanka and Mauritius have all since also announced gold acquisitions. “Gold has proved over the last couple of days that profit-taking is not lasting very long,” said Peter Fertig, an consultant at Quantitative Commodity Research. “Investors are coming in, especially if the U.S. dollar is under pressure against the major currencies. That is driving the market, as is speculation that another central bank will buy gold.” “Definitely prices could still go higher — $1,200 is within reach, and there is no reason why it should not be reached this calendar year,” he added. Gold hit a high of $1,173.50 an ounce on Monday as the dollar slid against a basket of currencies, boosting interest in the metal as an alternative asset and making it cheaper form holders of other currencies. But prices have been kept in check on Tuesday by a recovery in the U.S. currency. The euro fell against the dollar on banking sector concerns, though it pared losses as a key measure of German business sentiment beat forecasts. WHOLESALE DEMAND Gold’s slight correction from record highs led to a pick-up in wholesale demand for the metal in major bullion consumer India, traders said. Any further dips are likely to be met by strong buying, they added. “People are asking for $1,150, we have a few orders at that level,” said a dealer with a state-run bank in Mumbai. Analysts and fund managers say that in addition to dollar weakness, inflation prospects in 2010 and more official sector buying are set to support prices. For graphic showing gold’s relationship to inflation expectations, click on: http://feedfetcher.net/wp-content/uploads/2009/11/5382c5cda7FP1109.gif.gif “The investment case for gold has become increasingly compelling, with central bank buying and a structural change in interest in gold as an investment at the retail level,” said Standard Chartered in a note. The bank said although pockets of dollar strength would likely check gold’s progress in the first half of next year, by the fourth quarter it is set to average $1,300 an ounce. The world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,121.457 tons as of November 23, up 3.964 tons or 0.4 percent from the previous business day. Among other precious metals, spot silver was bid at $18.62 an ounce against $18.59, platinum was at $1,453.50 an ounce against $1,454.50, and palladium was at $372 an ounce against $369. ETF Securities, which operates exchange-traded products that issue securities backed by physical commodities, said its palladium ETP holdings rose more than 13,600 ounces to a record high of 611,924 ounces on Monday. Holdings of its platinum-backed product edged up to 423,439 ounces from 422,762 ounces, also a record high. (Reporting by Jan Harvey; Editing by William Hardy) Read more: Gold holds near $1,170/oz but dollar caps gains

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