Duke Energy (NYSE: DUK) hit a new 52-Week high of $16.28 so far today. Currently the stock is up $0.11 (0.68%) to $16.21 on 4,379,153 shares traded. Today's high ...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
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A new fuel technology - unveiled just two weeks ago - is about to revolutionize the energy business.
I saw it firsthand.
General Electric Co. (GE) asked me to present “The Future of Natural Gas” at the company’s Gas Turbine Symposium in Greenville, S.C. That’s where GE revealed a new generation of its market-leading ...
A new fuel technology – unveiled just two weeks ago – is about to revolutionize the energy business.
I saw it firsthand.
General Electric Co. (NYSE: GE) asked me to present “The Future of Natural Gas” at the company’s Gas Turbine Symposium in Greenville, S.C. That’s where GE revealed a new generation of its market-leading turbine technology.[More...]
• Sony (NYSE:SNE) said weak cell phone sales and lower PlayStation III console prices resulted in another quarterly loss. The firm also said full-year prospects improved from the company's aggressive cost-cutting measures
• Alcatel-Lucent (NYSE:ALU) reported its twelfth straight quarterly loss of $269 million. The firm said it expects operating results to break even by yearend
• Duke Energy (NYSE:DUK) reported third quarter earnings one cent above Zacks estimates at 40 cents, as revenues of $3.4 billion were below Zacks estimates of $4.25 billion. The company noted, "Industry sales volumes continued to show signs of stabilization"
• ITT Industries (NYSE:ITT) reported third quarter beat Zacks estimates by 14 cents a share, coming in at $1.03 on inline revenues of $2.7 billion, down 6.3%
• Coventry Health Care (NYSE:CVH) reported its third quarter of 68 cents topped Zacks estimates by 14 cents, on inline revenues of $3.44 billion, up 17.7%
• Aon (NYSE:AOC), reported third quarter results of 65 cents a share, a penny miss, on revenues of $1.81 billion. The firm set full-year guidance at $3.25-$3.45
• Constellation Energy (NYSE:CEG) posted third quarter earnings of $1.23, 16 cents above Zacks estimates, on revenues of $4.03 billion. The firm said it expects 2009 results of $3.25 to $3.45 a share
• Citigroup (NYSE:C) raised its rating on Toll Brothers (NYSE:TOL) to "buy" and maintained $23 price target
U.S. stocks rose strongly Thursday, reversing a four-session losing run, after a government report said the economy grew more than expected in the July-September quarter. Investors shunned Treasuries and jumped back into stocks after the report signaled the economy had emerged from the worst recession since the 1930s.
The positive surprise was enough to propel benchmark indexes to their biggest advance since July and send safe havens like Treasuries and dollar lower. Caterpillar Inc. (NYSE:CAT) and Alcoa Inc. (NYSE:AA) advanced at least 5.1% after the Commerce Department said the economy returned to growth following four straight quarters of decline. Crude prices jumped $2.44, or 3.1%, to $79.87 and gold was up $16.50 to $1046.40.
The S&P 500 registered its biggest one-day gain since July 23, jumping 2.2% to close at 1,066.11. The 30-share Dow Jones industrial average shot up by 199.89 points, or 2.05%, at 9,962.58 and the tech-heavy Nasdaq Composite index 37.94 points, or 1.84%, to 2,097.55. The advance was broad-based on the New York Stock Exchange where advancing issues ran ahead of those that declined by a five-to-one margin. Treasuries also took a beating after an auction of seven-year notes received a weaker-than-expected response. As the month-end nears, the DJIA has advanced 2.6% in October; the S&P500 0.9%, while the NASDAQ remains 1.2% lower for the month.
A lackadaisical third-quarter performance from Exxon Mobil (NYSE:XOM) could not dampen the mood either and the company’s shares edged up 0.16%. Procter & Gamble (NYSE:PG), also a Dow component, reported weaker quarterly earnings but revenue was above expectations. The consumer products maker also raised the low end of its fiscal 2010 earnings forecast and its shares rose 4%.
Twenty-eight of the DJIA's 30 components finished higher while all ten industry sectors of the S&P500 rose during the day, led by advances in basic materials (+4.1%), financials (+3.9%), oil and gas (+2.4%), consumer services (+2.4%), and industrials (+2.2%).
Among financials, MetLife Inc. (NYSE:MET) jumped 7.9% to $36.84 ahead of its earnings report. After the close, the biggest U.S. life insurer reported estimate-topping third-quarter operating earnings of 87 cents a share. Lincoln National Corp. (NYSE:LNC) surged 14% to $25.34 after it reported first quarterly profit in a year that was also ahead of estimates.
Meanwhile, the International Monetary Fund sharply boosted its outlook for Asian economic growth. The IMF also raised its next year's guidance. The IMF now expects economic growth of 2.8% this year and 5.8% next, up from last May's estimates for 2009 growth of 1.2% and 2010 growth of 4.3%.
Firms reporting their earnings include: Chevron (NYSE:CVX), Duke Energy (NYSE:DUK), Sony (NYSE:SNE), and Weyerhaeuser (NYSE:WY).
Asian Stocks rise as earnings, Japan jobless data, stoke growth optimism.Bank of Japan keeps benchmark rate at 0.1%, stops buying corporate debt.Dollar falls for fourth month against Euro, US growth aids risk demand.Japan central bank forecasts 3 years of deflation as it ends emergency credit steps.[More...]
Companies featured in this segment: Duke Energy Incorporated (NYSE:DUK), Dominion Resources Incorporated (NYSE:D), Southern Company (NYSE:SO), E.ON AG OTC:EONGY), Electricite de France SA (EPA:EDF), Australasian Resources Limited (ASX:ARH), Citic Pacific Limited (HKG:0267), NRG Energy Incorporated (NYSE:NRG), Edison International (NYSE:EIX), PepsiCo Corporation (NYSE:PEP)
Companies featured in this segment: PG&E Corp. (NYSE:PCG), Exelon (NYSE:EXC), PNM Resources (NYSE:PNM), Duke Energy (NYSE:DUK), Chicago Bridge & Iron Company NV (NYSE:CBI), Tesoro Corporation (NYSE:TSO), BP plc (NYSE:BP), Foster Wheeler AG (NASDAQ:FWLT)
Companies featured in this segment: Duke Energy Corporation (NYSE:DUK), DuPont (NYSE:DD), American Electric Power Company (NYSE:AEP), Cairn India Limited (BSE:532792), Oil & Natural Gas Corporation Limited (BSE:500312), Hindustan Petroleum Corporation Limited (BSE:500104), Mangalore Refinery & Petrochemicals Limited (BSE:500109), Iberdrola SA (MCE:IBE), Indian Oil Corporation Limited (BSE:530965)
Companies featured in this segment: Norfolk Southern Corporation’s (NYSE:NSC), CSX Corporation (NYSE:CSX), Northrop Grumman Corporation (NYSE:NOC), Allegheny Energy (NYSE:AYE), Ameren Services Company (NYSE:AEE), Vectren Corporation (NYSE:VVC), American Electric Power (NYSE:AEP), Duke Energy Corporation’s (NYSE:DUK), AREVA (EPA:CEI)