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STOCKS NEWS-Hotel companies are overpriced: Barron's


Real-time equity news U.S. stock market report 0836 ET 10May2010-Hotel companies are overpriced: Barron's ------------------------------------------------------------------------------ Hotel stocks may be overpriced considering that the industry is only just emerging from one of its worst slumps ever and are vulnerable to any faltering of the economy, Barron's said in its May 10 edition. Barron's pointed to Starwood Hotels and Resorts, saying its $47 share price was high at 52 times projected 2010 earnings, and Hyatt Hotels , whose shares have risen to about $40 from $25 when it went public last autumn, despite expectations it will lose money this year. For details, see Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0832 ET 10May2010-Sony profit to beat estimates on cost cuts ------------------------------------------------------------------------------ Sony Corp said it is likely to swing to an annual profit in the past financial year and beat forecasts, instead of an estimated loss. Analysts, however, are focused on how well Sony will shift gears from its restructuring phase to sales growth even as Japanese rival Panasonic Corp beat its forecast for the past year. For details, see U.S.-listed shares of Sony rose 2.7 percent to $33.79 before the bell. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0827 ET 10May2010-Goldman warns of more litigation, investigations ------------------------------------------------------------------------------ Goldman Sachs Group Inc, facing fraud charges from U.S. securities regulators, on Monday warned that more litigation and investigations could be coming. Goldman, in a quarterly regulatory filing, disclosed a number of probes and reviews. It said it anticipates additional shareholder actions and other investigations related to its offerings of collateralized debt obligations, which are at the heart of Securities and Exchange Commission charges against the firm. For details, see Shares of Goldman rose 3.7 percent to $148.30 before the bell. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0824 ET 10May2010-Crude oil rallies on emergency rescue deal ------------------------------------------------------------------------------ June crude futures advanced on Monday after policymakers agreed a $1 trillion rescue package to stabilise world financial markets and try to resolve the euro zone debt crisis. For details, see The contract was up 3.6 percent to $77.78 per barrel. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0810 ET 10May2010-McDonald's shares rise after April sales data ------------------------------------------------------------------------------ McDonald's Corp reported a 4.9 percent rise in April sales at established restaurants as the pace of sales in the United States and Europe, its largest markets, slowed from March. Sales at restaurants open at least 13 months rose 3.8 percent in the United States, 5.3 percent in Europe and 3.9 percent in the Asia/Pacific, Middle East and Africa region. For details, see Shares of McDonald's, a Dow component, rose 2.6 percent to $69.80 before the bell. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0803 ET 10May2010-Barron's sees upside for Google, stock rises ------------------------------------------------------------------------------ Google Inc shares are undervalued, considering the internet company's robust cash flow and the absence of debt, Barron's wrote in its May 10 edition. For details, see Shares of Google rose 4.1 percent to $513.45 before the bell. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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