STOCKS NEWS US-Halliburton wins Saudi Aramco South Ghawar pact

Stocks on the move Real-time Equity news U.S. stock market report 0816 EST 06Nov2009-Halliburton wins Saudi Aramco South Ghawar pact ------------------------------------------------------------------------------ Halliburton Co was awarded a broad five-year oilfield service contract from Saudi Aramco to develop wells in the South Ghawar field, the world's largest oil field, the company said on Friday. Halliburton did not release financial terms of the deal, which includes an option for a five-year extension. For details, see Shares of Halliburton closed Thursday at $30.55. Reuters Messaging: [e-mail] 0743 EST 06Nov2009-State Street adds $250 mln to legal fund ------------------------------------------------------------------------------ State Street Corp set aside an additional $250 million to cover claims by investors who lost money on risky mortgages, after using up more than two-thirds of a $625 million legal reserve it had set up in 2007. The company also reduced its previously reported third-quarter results to reflect the larger reserve. It now says quarterly profit was $327 million, or 66 cents per share, compared with a previously reported $516 million, or $1.04. It also revised its return on equity to 10.2 percent from 16 percent. For details, see Shares fell 1.2 percent to $42.32 in premnarket trade. Reuters Messaging: [e-mail] 0741 EST 06Nov2009-OECD Sept outlook shows strong recovery signs ------------------------------------------------------------------------------ Signs of improvement have emerged in most major economies, with a marked recovery in the United States and Japan and strong pointers to growth in several European economies and China, the OECD said on Friday. The Paris-based Organization for Economic Cooperation and Development said its composite leading indicator for the 29-member OECD area rose to 100.6 in September from 99.3 in August. The August figure was previously given as 99.2. For details, see Reuters Messaging: [e-mail] 0733 EST 06Nov2009-Aruba and Motorola resolve patent dispute ------------------------------------------------------------------------------ Aruba Networks Inc said on Friday it would pay $19.8 million to Motorola Inc to settle two-year-long patent disputes. The disputes involved patents owned by both parties and the settlement includes a cross-licensing agreement, the companies said in a joint statement. Aruba will account for the settlement payment as a one-time expense in the fiscal first quarter ended Oct. 31, the company said in a filing. For details, see Shares of Motorola closed Thursday at $9.31, while Aruba closed at $8.44. Reuters Messaging: [e-mail] 0727 EST 06Nov2009-Bernstein upgrades Amazon to "outperform" ------------------------------------------------------------------------------ Shares of Amazon.com Inc rose in premarket trading on Friday, after Bernstein upgraded the online retailer to "outperform" from "market perform." The firm also lifted its price target on the stock to $160 from $125. Bernstein wrote that it expects revenue to reacceleration to continue through 2010, and that it sees "sustainable improvements to both gross and operating margins." The stock rose 1.6 percent to $122.50 before the bell. Reuters Messaging: [e-mail] 0719 EST 06Nov2009-AIG shares fall after Q3 results ------------------------------------------------------------------------------ Shares of American International Group fell in premarket trading on Friday, after the company reported its third-quarter results. For details, see The stock dropped 7.1 percent to $36.50 before the bell. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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