STOCKS NEWS US-Union and grocers in pact; Arizona stike averted

Stocks on the move Real-time Equity news U.S. stock market report 0900 EST 13Nov2009-Union and grocers in pact; Arizona stike averted ------------------------------------------------------------------------------ Arizona union workers have reached a tentative agreement with grocers Kroger Co and Safeway Inc, averting a potential strike that had been scheduled to begin on Friday. The union plans to submit the tentative pact, reached late on Thursday night, to its members and recommend they approve it, the United Food and Commercial Workers Union Local 99, Kroger and Safeway said on Friday. The companies agreed to extend their existing contract pending the outcome of that vote, the parties said. For details, see Reuters Messaging: [e-mail] 0853 EST 13Nov2009-UBS starts Microsoft at "buy" ------------------------------------------------------------------------------ UBS on Friday started coverage on Microsoft Corp with a "buy" rating. "With newfound religion on expenses, we think the key to Microsoft's stock in 2010 is the positive earnings leverage that it should generate from a pickup in enterprise demand," the firm wrote to clients. Shares of Microsoft, a Dow component, rose 0.7 percent to $29.58. Reuters Messaging: [e-mail] 0849 EST 13Nov2009-Wells Fargo upgrades Qualcomm to "outperform" ------------------------------------------------------------------------------ Shares of Qualcomm Inc rose in premarket trading on Friday, after Wells Fargo Securities upgraded the stock to "outperform" from "market perform." The firm said that some of the key risks facing the company, including a license dispute with Nokia, litigation with Broadcom and license negotiation with Samsung, had been eliminated. For details, see Qualcomm rose 1.1 percent to $45.33 in premarket trading. Reuters Messaging: [e-mail] 0846 EST 13Nov2009-Trade gap widens 18.2 pct in September ------------------------------------------------------------------------------ The U.S. trade deficit widened in September by an unexpectedly large 18.2 percent, the most in more than 10 years, as oil prices rose for the seventh straight month and imports from China bounded higher, a U.S. government report showed on Friday. The monthly trade gap grew to $36.5 billion, from a slightly revised estimate of $30.8 billion in August. Wall Street analyst had expected the shortfall to grow modestly in September to around $31.65 billion. For details, see Reuters Messaging: [e-mail] 0840 EST 13Nov2009-Import prices rise 0.7 pct in October ------------------------------------------------------------------------------ U.S. import prices rose for the third straight month in October, pushed up by a jump in the cost of fuel imports and the depreciating dollar, a government report showed on Friday. The Labor Department said import prices advanced 0.7 percent after a revised 0.2 percent increase in September that was previously reported as a 0.1 percent gain. However, the increase in import prices was below market expectations for a 1.0 percent rise. For details, see Reuters Messaging: [e-mail] 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] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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