Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

US STOCKS-Wall St little changed; Hasbro falls

Published 10/19/2009, 10:18 AM
Updated 10/19/2009, 10:21 AM
TFC
-
ETN
-
HAS
-

* BB&T Q3 profit drops, sees loan stability

* Hasbro earnings top view; revs fall short

* Dow up 0.2 pct, S&P 500 up 0.1 pct, Nasdaq off 0.2 pct

* For up-to-the-minute market news, click [STXNEWS/US] (Updates to midmorning)

By Chuck Mikolajczak

NEW YORK, Oct 19 (Reuters) - U.S. stocks were little changed on Monday, as investors digested a new batch of corporate earnings for signals about the potency of an economic recovery.

Diversified manufacturer Eaton Corp said quarterly profit fell sharply from a year ago, but still topped expectations, adding it saw early signs of recovery in its markets. Shares rose 6 percent to $64.01. For details, see [ID:nN19314996]

BB&T Corp slipped 4.5 percent to $26.99 after the regional bank reported third-quarter profit tumbled by 56 percent, but said early indicators of problem loans were largely stable compared with the second quarter. [ID:nN18349933]

Hasbro Inc shed 4.6 percent to $28.15 after the toymaker posted higher-than-expected quarterly profit, lifted by a demand for movie-related toys, but revenues fell short of the Wall Street view. [ID:nN19363695]

"What we've seen so far has been pretty good. Revenues were better than expected, earnings were been better than expected. So what we saw last week was clearly better-than-expectations. Does that continue?" said Stephen Massocca, managing director, Wedbush Morgan in San Francisco.

"By the time we get to the end of this week, we'll have a real good idea of how the numbers look. But from what we've seen so far, the numbers look very, very good."

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The Dow Jones industrial average <.DJI> gained 24.03 points, or 0.24 percent, to 10,019.94. The Standard & Poor's 500 Index <.SPX> added 1.54 points, or 0.14 percent, to 1,089.22. The Nasdaq Composite Index <.IXIC> dropped 3.53 points, or 0.16 percent, to 2,153.27.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.