NewsMine — economy — united-states — 2003 — 2003-sept-oct — Viewing Item

Stocks rise on upbeat analyst reports { September 8 2003 } Original Source Link: (May no longer be active)    http://asia.reuters.com/newsArticle.jhtml?type=topNews&storyID=3405582 http://asia.reuters.com/newsArticle.jhtml?type=topNews&storyID=3405582 Stocks Rise on Upbeat Analyst Reports Mon September 8, 2003 10:52 AM ET By Elizabeth Lazarowitz NEW YORK (Reuters) - Stocks extended their gains in mid-morning trading on Monday as optimistic reports from a number of Wall Street analysts buoyed hopes that the economy and corporate profits are set to rebound in the months ahead. International Business Machines IBM.N was at center stage, its shares gaining ground after Credit Suisse First Boston raised its investment rating on the computer maker. "IBM was upgraded. That's helping to buoy the market a little bit," said Todd Leone, head of listed trading at S.G. Cowen. "Everything that has been out has been positive for the economy." Wall Street stumbled on Friday after a report showing that U.S. employers cut jobs in August at their fastest pace since March. Still, scattered signs that the economy is picking up, including a bullish revenue forecast from technology bellwether Intel Corp. INTC.O last week, are shoring up investors' confidence. Technology stocks were leading the way into positive territory, pushing the technology-laced Nasdaq Composite Index .IXIC to levels unseen since March 2002. The Nasdaq Composite rose 24.91 points, or 1.34 percent, to 1,883.15. The Dow Jones industrial average .DJI was up 76 points, or 0.8 percent, at 9,579.34, and the broader Standard & Poor's 500 Index .SPX added 8.85 points, or 0.87 percent, at 1,030.24. IBM was among the biggest percentage gainers in the blue-chip Dow Jones industrial average, rising $2.12, or 2.4 percent, to $89.05. Merck & Co. Inc. MRK.N was another leading Dow gainer after a Sept. 8 Barron's article said pharmaceutical stocks, which have trailed the broader stock market this year, look attractive. Merck's shares rose $1.45, or 2.8 percent, to $52.45. Semiconductor equipment makers were also giving the market a lift after Smith Barney upgraded the sector. Applied Materials AMAT.O , for one, gained 70 cents, or 3.3 percent, to $22.04. The Philadelphia Stock Exchange's semiconductor index .SOXX rose 2 percent. Wireless-chip maker RF Micro Devices Inc. RFMD.O surged 11 percent after it raised its quarterly forecast in another signal that the telecommunications industry may be nearing a recovery. Its shares rose 99 cents to $10. But retail heavyweights Wal-Mart Stores Inc. WMT.N and Target Corp. TGT.N were both under pressure after Sanford Bernstein lowered its ratings on the companies, saying the stock prices already reflected the potential for better earnings. Wal-Mart, which said it was on track to meet September growth forecasts, nonetheless fell 63 cents to $58.26. Target sagged 91 cents to $39.10. (Additional reporting by Doris Frankel)

2 years in a row more in poverty Asian debt withdrawal threat to us deficit { September 7 2003 } Asian unpegging crucify us { October 3 2003 } Bush bid weaken dollar against asia { September 24 2003 } Bush cuts schools highways { September 10 2003 } Bush priorities under scrutiny Bush takes credit economic upturn { September 1 2003 } China brings us export resictions into trade debate Deficit not manageable { September 18 2003 } Deflation still worries federal reserve { September 17 2003 } Deflation will continue for years { September 10 2003 } Disappointed earnings bonds rally Dollar gains on euro { September 2 2003 } Dollar over valued { September 18 2003 } Dollar plunges 3 year low Dollar tumbles low against euro { October 8 2003 } Economy expands fastest since 1984 no jobs { October 31 2003 } Fed holds rates warns on deflation Firms dont buy rebound Firms still slashing jobs Foreign investors fear weak dollar { September 22 2003 } Gold hits 7 year high { September 25 2003 } Gold records as tumbling dollar { September 10 2003 } Government claims unemployment stabilizing { October 3 2003 } Grocery workers 3rd day strike san diego { October 14 2003 } Job loss like great depression Jobless claims lowest eight months { October 9 2003 } La transit strike may strand 500 thousand { October 14 2003 } Mass august layoffs { September 26 2003 } Monthly costs iraq approach vietnam Poor gained 1 3m in 2002 { September 3 2003 } States risk big losses bond funding pensions { October 12 2003 } Stocks at 14 month high { September 2 2003 } Stocks fall economy worries { September 30 2003 } Stocks lower after production data Stocks rebound hopes intact { October 1 2003 } Stocks rise on upbeat analyst reports { September 8 2003 } Stocks slip bonds rise Trade gap bring down dollar warns imf { September 19 2003 } Trade gap could bring down dollar { September 19 2003 } Uninsured increases 2 4 million last year { September 30 2003 } Us bonds face gloomier future as selling continues { September 7 2003 } Us closes last levis manufacturer { September 26 2003 } Us losing millions manufacturing jobs { September 4 2003 } Weak dollar raises stocks Files Listed: 45

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