STOCKS NEWS US-Lazard downgrades eight retailers

Stocks on the move Real-time Equity news U.S. stock market report 0859 EST 04Nov2009-Lazard downgrades eight retailers ------------------------------------------------------------------------------ Lazard Capital Markets on Wednesday downgraded eight U.S. retailers, citing the group's outperformance since March. The retail, apparel and footwear stocks have risen 180 percent since March while the S&P 500 index is up only 55 percent in the same period, the brokerage said, adding that the stocks are now discounting a significant earnings recovery. American Eagle Outfitters Inc and Guess? Inc were both downgraded to "hold" from "buy," while luxury retailer Saks Inc was cut to "sell." For details, see Reuters Messaging: [e-mail] 0848 EST 04Nov2009-GenVec shares rise after FDA move on cancer drug ------------------------------------------------------------------------------ Shares of GenVec Inc rallied in premarket trading on Wednesday, after the company said its experimental cancer drug had been given an orphan drug designation from the Food and Drug Administration. The drug is being developed to treat locally advanced pancreatic cancer by stimulating the production of TNF-alpha -- an immune system protein with anti-cancer effects. For details, see The stock advanced 31.3 percent to $1.05 before the bell. Reuters Messaging: [e-mail] 0826 EST 04Nov2009-Private sector cuts 203,000 jobs in Oct-ADP ------------------------------------------------------------------------------ U.S. private employers shed 203,000 jobs in October, according to a report by a private employment service on Wednesday, fewer than a revised 227,000 jobs lost in September. The median of estimates from economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for decline of 190,000 private-sector jobs last month. For details, see Reuters Messaging: [e-mail] 0809 EST 04Nov2009-Time Warner rises after Q3 results, outlook ------------------------------------------------------------------------------ Shares of Time Warner Inc rose in premarket trading on Wednesday after the company reported adjusted third-quarter earnings that beat expectations. The media company also raised its full-year profit view and affirmed its plan to spin off its AOL unit in December. For details, see The stock rose 2.3 percent to $30.85 before the bell. Reuters Messaging: [e-mail] 0802 EST 04Nov2009-Terra rejects CF Industries latest proposal ------------------------------------------------------------------------------ Terra Industries Inc said on Wednesday its board had unanimously rejected the latest takeover proposal from CF Industries, calling it inadequate. CF had raised its bid for Terra on Sunday, and changed the structure of the offer to mostly cash. For details, see Shares of CF closed Tuesday at $85.43 while Terra closed at $34.88. Reuters Messaging: [e-mail] 0749 EST 04Nov2009-King Pharma sues ZymoGenetics over trademark ------------------------------------------------------------------------------ King Pharmaceuticals Inc has sued ZymoGenetics Inc, alleging trademark infringement. King is seeking damages and injunctive relief, according to a regulatory filing. In addition, a U.S. court has temporarily restrained ZymoGenetics from marketing a project, the filing read. For details, see Shares of King closed Tuesday at $10.26 while ZymoGenetics closed at $5.08. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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