STOCKS NEWS US-Markets higher as earnings offset consumer data

Stocks on the move Real-time Equity news U.S. stock market report 1038 EST 13Nov2009-Markets higher as earnings offset consumer data ------------------------------------------------------------------------------ U.S. stocks were up on Friday following positive quarterly results from companies including Walt Disney Co, JC Penney Co Inc and Abercrombie & Fitch Co. Despite that, gains were limited by weaker-than-expected consumer sentiment data. For details, see The Dow Jones industrial average rose 0.6 percent to 10,257.64, while the S&P 500 gained 0.4 percent to 1,091.45, and the Nasdaq was up 0.5 percent to 2,158.79. Reuters Messaging: [e-mail] 1029 EST 13Nov2009-Cadence shares drop after FDA move ------------------------------------------------------------------------------ Shares of Cadence Pharmaceuticals Inc fell on Friday after the company said the Food and Drug Administration had delayed the review date on its experimental painkiller by three months. The FDA said certain additional data submitted by the company were considered a major amendment. For details, see The stock slid 6.3 percent to $8.95. Reuters Messaging: [e-mail] 1021 EST 13Nov2009-IMF chief doesn't see double-dip U.S. recession ------------------------------------------------------------------------------ Dominique Strauss-Kahn, the managing director of the International Monetary Fund, said on Friday he didn't believe there would be a double-dip recession in the United States. Despite that, he said the pace of U.S. recovery remained sluggish. "Our forecast has that, not only in the United States but also for the rest of the world, 2010 will be a year of recovery," Strauss-Kahn told a news conference in Singapore where he was attending an Asia Pacific Economic Cooperation meeting. For details, see Reuters Messaging: [e-mail] 1018 ET 13Nov2009 Mizuho ADRs jump after bank posts profit ------------------------------------------------------------------------------ U.S.-traded shares of Mizuho Financial Group shot up 7.3 percent to $4.12 on Friday after the Japanese bank posted its first profit in five quarters. Rival Sumitomo Mitsui Group doubled its profit, signaling Japan's major banks are recovering from the economic crisis, albeit slowly. Reuters Messaging: [e-mail] 1006 EST 13Nov2009-Consumer sentiment falls in November: survey ------------------------------------------------------------------------------ U.S. consumer sentiment fell in early November to the weakest in three months amid grim expectations for job and income prospects, a survey showed on Friday. The Reuters/University of Michigan Surveys of Consumers said its preliminary index of sentiment for November fell to 66.0, the lowest since August, from 70.6 in October. This was well below economists' median expectation of a reading of 71.0, according to a Reuters poll. For details, see Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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