| Stocks rally on economic data, Cisco |
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--(www.FinancialNewsUSA.com)-- 11/06/2009 - US Market industry news provided by Financial News USA. Reuters - A trader reacts after the closing bell of the New York Stock Exchange on November 5, 2008. REUTERS/Lucas ... NEW YORK (Reuters) - U.S. stocks jumped on Thursday, pushing the S&P 500 up for a fourth day, as economic data boosted confidence in the recovery and strong results from Cisco Systems (Nasdaq: CSCO) suggested a rebound in technology spending. The market's advance was broad-based, and the Dow ended above 10,000 for the first time in two weeks. Shares of Cisco, which makes computer network equipment, rose 2.8 percent to $23.93 and helped lead the session's gains, a day after it posted a stronger-than-expected profit and said business was recovering. Data showed U.S. non-farm productivity rose more than expected in the third quarter as companies squeezed more output from a smaller pool of labor. A separate report showed fewer U.S. workers filed new jobless insurance claims than forecast last week -- hitting a 10-month low. [Read the full article] NEW YORK (AP) -- The following stocks were among those that moved substantially or traded heavily Thursday on the New York Stock Exchange: Quarterly sales for the maker of 7UP, Canada Dry, A&W and other drinks fell, though profit rose on lower costs. Investment funds TPG Capital and CPP Investment Board will pay $4 billion, or $22 per share, for the health care data company. Its struggling Caremark pharmacy benefits management unit lost $2 billion in business over the last few months, the company said. The fast-food company earned $14.7 million in the quarter and says a focus on low-cost meals at Arby's will boost sales. Adjusted quarterly earnings rose to $388 million, and the company continues to sell plants to bolster its financial position. In a final attempt to acquire the rival fertilizer maker, Agrium Inc. raised its bid to $92.99 in cash and stock, or $4.52 billion. The world's No. [Read the full article] NEW YORK (AP) -- Shares of Whole Foods Market Inc. tumbled after the upscale grocery chain offered a cautious outlook for its new fiscal year. NEW YORK (AP) -- Shares of Amdocs Ltd. rose after the telecommunications equipment maker posted higher fourth-quarter earnings and gave a solid forecast for its fiscal first quarter, a sign that demand for its products may be stabilizing. HARTFORD, Conn. (AP) -- Shares of the Shaw Group jumped soon after the CEO of the engineering and construction firm bought $6.4 million worth of shares this week. Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press. 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. [Read the full article] NEW YORK (AP) -- Two attorneys and Wall Street professionals were among 14 people charged Thursday in a widening $53 million insider trading case that has snared one of America's richest men and shown white collar suspects to be using the cover-up tactics of drug dealers. The actions raise to 20 the number of people who have been charged in the case first disclosed last month with the arrests of Galleon Group founder and hedge fund operator Raj Rajaratnam and five others. At the time, U.S. Attorney Preet Bharara called the first arrests "a wake-up call for Wall Street." Bharara said the defendants borrowed a "page from the drug dealer's play book" by using anonymous hard-to-trace prepaid cell phones to dodge detection by law enforcement. He said they also discussed falsifying company files to make it appear trades weren't based on secrets. [Read the full article] About Financial News USA Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com. 
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