STOCKS NEWS US-Morgan Stanley downgrades semiconductor sector

Stocks on the move Real-time Equity news U.S. stock market report 0723 EST 03Nov2009-Morgan Stanley downgrades semiconductor sector ------------------------------------------------------------------------------ Morgan Stanley on Tuesday downgraded the U.S. semiconductor sector to "cautious" from "attractive," saying fundamentals in the group were peaking. The firm also cut Intel Corp to "equal-weight" from "overweight." Morgan Stanley wrote that inventories were rising, while the Taiwan operations of notebook makers saw inventory dollar spike quarter-over-quarter, "which raises risk for PC component vendors." Shares of Intel, a Dow component, fell 2.4 percent to $18.55 in premarket trading. Reuters Messaging: [e-mail] 0718 EST 03Nov2009-Futures down on European banks, ahead of Fed meet ------------------------------------------------------------------------------ U.S. stock index futures were down on Tuesday, pressured after weaker-than-expected results from UBS AG, and as a shake-up in British banks weigh on investor sentiment. Investors were also looking ahead to the start of a two-day Fed meeting. For details, see Dow Jones industrial average futures fell 83 points while S&P 500 futures slid 9.8 points and Nasdaq 100 futures lost 12.75 points. Reuters Messaging: [e-mail] 0709 EST 03Nov2009-Barclays upgrades Canadian Solar to equal weight ------------------------------------------------------------------------------ Barclays Capital on Tuesday upgraded Canadian Solar Inc to "equal weight" from "underweight," citing the company's strong fundamentals and its ability to secure financing. "With potential dilution risk out of the way, we see more balanced risk-reward resulting from robust near term fundamentals, improving bankability situation and relatively attractive valuation," the firm wrote to clients. For details, see Shares of Canadian Solar closed Monday at $14.69. Reuters Messaging: [e-mail] 0648 EST 03Nov2009-Crude oil falls on stronger dollar, Asia ------------------------------------------------------------------------------ December crude futures fell on Tuesday, pressured as the U.S. dollar strengthened and as stock markets fell in Asia and Europe. For details, see The contract slid 1.3 percent to $77.16 per barrel. Reuters Messaging: [e-mail] 0636 EST 03Nov2009-UBS shares fall after Q3 disappoints ------------------------------------------------------------------------------ U.S.-listed shares of UBS AG fell in premarket trading on Tuesday, after the company reported a third-quarter loss that was wider than expected. The bank also said it didn't expect to win back assets from rich clients anytime soon, following a U.S. tax row. For details, see The stock fell 7.7 percent to $15.48 on the New York Stock Exchange. Reuters Messaging: [e-mail] 0630 EST 03Nov2009-Stanley Works to buy B&D for $3.46 billion ------------------------------------------------------------------------------ Stanley Works late Monday said it would buy Black & Decker Corp for $3.46 billion in stock. Under the terms of the agreement, Black & Decker shareholders will receive 1.275 Stanley shares -- about $57.56 at Monday's close -- for each Black & Decker share they own, representing a premium of 22 percent over Black & Decker's Monday close of $47.34. Stanley shareholders will own about 50.5 percent of the combined company, with Black & Decker shareholders owning the rest. For details, see Shares of Stanley closed Monday at $45.15 while Black & Decker shares closed at $47.34. Reuters Messaging: [e-mail] 0622 EST 03Nov2009-Earnings and indicator diary for Nov. 3 ---------------------------------------------------------------- Companies scheduled to report quarterly results on Tuesday include: Archer Daniels Midland, Kraft Foods Inc , MasterCard Inc, Tenet Healthcare, Viacom and Rockwell Collins, among others. For details, see Economic indicators on tap for Tuesday include: weekly ICSC chain store data, weekly Redbook data, durable goods orders for September and September factory orders. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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