STOCKS NEWS US-Rail firms jump on Berkshire-BNI news

Stocks on the move Real-time Equity news U.S. stock market report 0754 EST 03Nov2009-Rail firms jump on Berkshire-BNI news ------------------------------------------------------------------------------ Shares of rail companies rallied in premarket trading on Tuesday, after Berkshire Hathaway agreed to buy Burlington Northern Santa Fe for $100 per share in cash and stock. Burlington shares surged 29 percent to $97.78. Among the company's peers, Union Pacific gained 8.1 percent to $59.50, CSX Corp was up 8.5 percent to $46.50 and the iShares Dow Jones Transportation Average ETF climbed 5 percent to $67.50. Reuters Messaging: [e-mail] 0729 EST 03Nov2009-UBS results weigh on major U.S. bank stocks ------------------------------------------------------------------------------ Major U.S. banks including Bank of America, JP MorganChase, Wells Fargo & Co and Citigroup were trading lower in premarket trading on Tuesday, after poor results from their European peer sent shares in Europe to a new one-month low. Before the bell, bank of America was down 1.6 percent at $14.40, JP MorganChase was down 1 percent at $42.17 and Wells Fargo lost 1.1 percent to $27.30. Citigroup fell 2.3 percent to $3.90. UBS slumped 9 percent after the Swiss lender posted a higher-than-expected accounting charge and withdrawals at all its key divisions pushed it into another quarterly loss. It said it did not expect an immediate recovery of client inflows. Reuters Messaging: [e-mail] 0751 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] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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