Business and Financial News

By Ellis Mnyandu NEW YORK (Reuters) - Stocks were poised to open little changed on Monday as reduced outlooks from diversified manufacturer Honeywell Inc (HON.N) and health insurer Aetna Inc (AET.N) sparked caution. Honeywell shares fell 2.5 percent to $33.18 before the bell after the company cut its full-year profit forecast to the bottom of its prior range. No. 3 U.S. health insurer Aetna cut its full-year earnings outlook due to higher-than-projected medical costs and posted a 28 percent drop in second-quarter net income. The stock slid 10.2 percent to $23.75. With the broader market up nearly 45 percent since it hit 12-year lows in early March, some investors were likely to book profits as they reassess the sustainability of the latest run-up. “Honeywell said the outlook remains cloudy, setting the stage for a mixed session today,” said Peter Cardillo, chief market economist at Avalon Partners in New York. “The market has come up rather sharply, so obviously it is poised for some profit-taking.[...]

• Wall Street rises after Lowe’s results

  By Ellis Mnyandu NEW YORK (Reuters) - Stocks headed for a higher open on Monday as stronger-than-expected quarterly results from No. 2 U.S. home improvement chain Lowe’s Cos Inc (LOW.N) boosted hopes the recession was abating and spending was stabilizing. The Lowe’s results served as a crucial spur for investors...
• Wall Street flat as data tempers recovery hopes

  By Ellis Mnyandu NEW YORK (Reuters) - Stocks were little changed on Tuesday as data suggesting no let-up in the housing slump tempered investors’ hopes that the recession was moderating. U.S. housing starts and permits fell unexpectedly to record lows in April, according to a government report. Additionally, the chief...
• Wall Street slips on weak data, oil slides

  By Rodrigo Campos NEW YORK (Reuters) - U.S. stocks fell to session lows on Wednesday, led lower by energy shares such as Exxon Mobil after an unexpected build-up in oil inventories and weaker-than-expected economic data. Shares of Dow components Chevron Corp (CVX.N) and Exxon Mobil (XOM.N) lost 2.1 percent and...
• Nikkei and oil hit 6-week lows on recovery worries

  By Eric Burroughs HONG KONG (Reuters) - Japan’s Nikkei share average and oil prices hit six-week lows on Wednesday as investors pulled funds out of bets on the global economy’s recovery and favored safe havens, such as the U.S. dollar and government bonds. European stock futures pointed to a drop...
• S&P has best 3 days since March on earnings optimism

  By Leah Schnurr NEW YORK (Reuters) - U.S. stocks jumped on Wednesday with the S&P 500 racking up its three best days since March, sparked by results from bellwether Intel Corp (INTC.O) that lifted hopes for a rebound in technology spending and improved corporate profitability. The broad S&P 500 has...