STOCKS NEWS US-Markets open higher ahead of Fed statement

Stocks on the move Real-time Equity news U.S. stock market report 0941 EST 04Nov2009-Markets open higher ahead of Fed statement ------------------------------------------------------------------------------ U.S. stocks opened higher on Wednesday, ahead of the Federal Reserve's statement on interest rates and the economy, and after several companies reported quarterly results that beat expectations. A weaker U.S. dollar also boosted commodity stocks. For details, see The Dow Jones industrial average was up 76.78 points, or 0.79 percent, at 9,848.69. The Standard & Poor's 500 Index added 8.84 points, or 0.85 percent, at 1,054.25. The Nasdaq Composite Index rose 12.65 points, or 0.61 percent, at 2,069.97. Reuters Messaging: [e-mail] 0913 EST 04Nov2009-Citigroup lifts price target on MasterCard ------------------------------------------------------------------------------ Citigroup lifted its price target on MasterCard Inc by 20 percent to $250 from $209 on Wednesday, a day after the company's quarterly results. On Tuesday, MasterCard reported adjusted third-quarter earnings that beat expectations and sales that rose from the prior year. For details, see Shares of MasterCard rose 2.3 percent to $224. Reuters Messaging: [e-mail] 0859 EST 04Nov2009-Lazard downgrades eight retailers ------------------------------------------------------------------------------ Lazard Capital Markets downgraded eight U.S. retailers on Wednesday, 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 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 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 15 percent to 91 cents. 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] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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