STOCKS NEWS US-J.C. Penney shares up on outlook, boosts peers

Stocks on the move Real-time Equity news U.S. stock market report 0830 EST 13Nov2009-J.C. Penney shares up on outlook ------------------------------------------------------------------------------ Shares in Department store operator J.C. Penney Co Inc rose after the company raised its full year targets on Friday as investors look for bright spots in the retail sector ahead the holiday season. Shares of other department stores rose after the news J.C. Penney's stocks climbed 4.7 percent in premarket trade to $30.76 even though net profit fell to $27 million, or 11 cents a share, for the third quarter ended Oct. 31, from $124 million, or 55 cents a share, a year earlier. Sector peer Macy's Inc rose 0.6 percent to $17.60, while Kohl's Corp rose 0.3 percent to $54.80. Reuters Messaging:rm://[e-mail] 0822 EST 13Nov2009-Goldman adds Sunoco to Conviction Sell list ------------------------------------------------------------------------------ Shares of Sunoco Inc fell in premarket trading on Friday, after Goldman Sachs added the company to its Conviction Sell list. At the same time, the firm removed Patterson-UTI Energy Inc from the Conviction Sell list, citing the stock's relative underperformance since being added to the list. For details, see Sunoco shares were down 1.9 percent to $26.69 before the bell, while Patterson share closed Thursday at $15.93. Reuters Messaging: [e-mail] 0817 EST 13Nov2009-BofA-ML ups 2010 U.S. oil forecast to $85/barrel ------------------------------------------------------------------------------ Bank of America-Merrill Lynch on Friday raised its 2010 U.S. crude oil price forecast to $85 a barrel from a previous estimate of $75 a barrel. The revision follows a stronger-than-expected rebound in world economic recovery, the firm wrote. BofA-ML also raised its oil demand outlook. For details, see December crude futures were down 0.3 percent to $76.71 per barrel on Friday. Reuters Messaging: [e-mail] 0810 EST 13Nov2009-Lakeland shares fall, offering priced at discount ------------------------------------------------------------------------------ Shares of Lakeland Financial Corp fell in premarket trading on Friday, after the company said an offering of 3.5 million shares was priced at a discount to its Thursday closing price. The shares were priced at $17 each, compared with the Thursday closing price of $18.23. For details, see The stock fell 5.4 percent to $17.25 before the bell. Reuters Messaging: [e-mail] 0747 EST 13Nov2009-Abercrombie & Fitch shares jump after earnings ------------------------------------------------------------------------------ Shares of Abercrombie & Fitch Co rose 6.1 percent to $39.01 in premarket trading on Friday after the clothing retailer posted a much better-than-expected quarterly profit, helped by cost cuts. For more details, see 0747 EST 13Nov2009-FBR upgrades tanker sector to "overweight" ------------------------------------------------------------------------------ FBR Capital Markets upgraded the tanker sector to "overweight" on Friday, expecting "marked improvement in the supply/demand balance in 2010." The firm sees day rates for very large crude carriers increasing to $37,000 in 2011 from $29,000 in 2009. As part of its call, FBR upgraded Frontline Ltd to "outperform," saying the company was "best positioned to capture the coming strength." Reuters Messaging: [e-mail] 0738 EST 13Nov2009-Futures up ahead of data on consumers ------------------------------------------------------------------------------ U.S. stock index futures were up on Friday, following a selloff in Thursday's session, as investors awaited data on consumer spending. Some positive corporate earnings results, including from Dow component Walt Disney Co late Thursday, also lifted sentiment. For details, see Dow Jones industrial average futures rose 11 points, while S&P 500 futures gained 1 point, and Nasdaq 100 futures were up 2.25 points. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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