The market review for December, 15st

Stock trades in the U.S. on Monday, December 14, resulted in an increase of leading indexes. On the dynamics of the market positively influenced by corporate news, as well as a statement of the Government of Abu Dhabi for the emirate of Dubai emergency loan in the amount of $ 10 billion to pay off the debts the state fund Dubai World. It was reported that 4.1 billion dollars of this sum will be used to finance debt-controlled Dubai World developer Nakheel, the repayment of which expired on December 14. The remaining funds will be used to cover the debt, which must be repaid before the end of April 2010., And general corporate purposes. Consent of Arab States to refinance the debts of Dubai World can keep this company from bankruptcy and preventing the emergence of a new wave of financial crisis in the global economy.

The leader of growth on the basis of trading on Monday became the oil and gas company XTO, stock quotes, which increased by 15,4%. Investors have been buying up its shares in connection with a report on the merger XTO with oil giant ExxonMobil. Under the deal approved by the boards of directors of both companies, ExxonMobil will issue 0.7098 common shares in exchange for one ordinary share of XTO, which represents a premium of 25% relative to the price of shares of XTO at the close of the trading session on Friday, December 11. The total cost of the transaction, taking into account debt is estimated at 41 billion dollars Stock Quotes ExxonMobil therefore decreased by 4,3%.

11% increase in prices of paper hi-tech company Sun Microsystems. Favored for quotation of securities of the company reflected the message of the European Commission that the acquisition transaction by Sun, Oracle can be approved by European regulators after recent concessions regarding the database management system MySQL. As a result, shares of Oracle on Monday went up by 2,3%.

Not the most favorable trading session ended for the U.S. bank Citigroup, announced plans to return $ 20 billion state aid by issuing securities and use other financial instruments. As a result of trading shares of Citigroup fell 6.3%.

Managed to consolidate its position on the trading floors credit card operator Visa (+4,2%) against the backdrop of reports Standard & Poor’s at the end of last week that the Visa shares will be added to the calculation of the S & P 500 instead of the network equipment manufacturer Ciena Corp.

Dow Jones index rose by 29.55 points (0.28%) – to 10,501.05 points
NASDAQ – at 21.79 points (0.99%) – to 2,212.10 points
S&P – at 7.70 points (0.70%) – up to 1,114.11 points.

Allied Irish Banks Plc. (AIB:US) tumbled 15 percent to $3.37. Moody’s Investors Service said the outlook for the Irish banking system remains negative.

CBS Corp. (CBS:US): The owner of the most-watched U.S. television network was downgraded to “neutral” from “buy” by analysts at UBS AG with a price target of $15 per share. The analysts said the CBS share price already reflects expectations for increasing advertising demand in 2010.

Conseco Inc. (CNO:US): The life insurer said it may raise as much as $234.1 million selling shares and use part of the proceeds to repay debt.

Honeywell International Inc. (HON:US) fell 2.2 percent to $40.40. The maker of aircraft instruments and industrial controls was downgraded to “underweight” from “neutral” at HSBC. The share price estimate is $36.

JA Solar Holdings Co. (JASO:US) jumped 5.7 percent to $5.60. The manufacturer of solar products said that based on current customer orders and product deliveries, it expects fourth-quarter 2009 shipments to exceed the high end of its prior forecast. The company was raised to “hold” from “sell” at ThinkEquity LLC by equity analyst Colin Rusch.

GenCorp Inc. (GY:US) fell 5.3 percent to $8. The maker of spacecraft parts said it plans to offer as much as $125 million of convertible subordinated debentures in a private placement.

Hyatt Hotels Corp. (H:US) rose 2.5 percent to $30.24. The Abu Dhabi Investment Authority, one of the world’s top two sovereign wealth funds, acquired a 10.9 percent stake in Hyatt. The shares were rated “buy” in new coverage at Goldman Sachs Group Inc., Citigroup Inc. and Deutsche Bank AG and “overweight” at JPMorgan Chase & Co.

MetroPCS Communications Inc. (PCS:US) gained 3.6 percent to $7.12. The pay-as-you-go mobile-phone carrier was rated new “outperform” at Sanford C. Bernstein & Co. by equity analyst Craig Moffett. The target price is $10 per share.

Qwest Communications International Inc. (Q:US) rose 2.9 percent to $4.20. The local phone provider in 14 U.S. states was upgraded to “buy” from “neutral” by analysts at UBS AG with a price target $5.50 per share. The analysts cited Qwest’s attractive valuation, improving revenue trends and a stable cash flow.

Starlims Technologies Ltd. (LIMS:US) surged 44 percent to $13.65. The Israeli maker of laboratory information management systems agreed to be bought by Abbott Laboratories for $14 a share, or about $123 million in cash.

Starwood Hotels & Resorts Worldwide Inc. (HOT:US) added 1.5 percent to $36.15. The third-largest U.S. lodging company was raised to “buy” from “underperform” at Bank of America Corp.’s Merrill Lynch Global Research, which said in a report “we believe there will be a strong cyclical recovery in lodging earnings beginning in late 2010.”

VeriFone Holdings Inc. (PAY:US) fell 0.7 percent to $14.83. The provider of electronic payment technology forecast profit excluding some items of 23 cents a share at most in the fiscal first quarter. That missed the 24-cent average estimate from analysts in a Bloomberg survey.

Wells Fargo & Co. (WFC:US) rose 3.8 percent to $26.46. The San Francisco-based bank announced a $10.4 billion share sale to help repay the Troubled Asset Relief Program. Wells Fargo, which ranks fourth by assets and deposits in the U.S., plans to return all of the $25 billion that taxpayers invested last year, according to a company statement issued yesterday.

Technical Perspective: The winning streak for the S&P and Dow has reached four sessions, with all three major averages hovering near their 52-week intraday highs/multi-week range tops (1117 S&P). A continued posture above 1110 and 1108 during any early gyrations Tuesday leaves it positioned for a test/breach of the range top. Resistance above is in the 1120/1121 area (Fibonacci extension targets/50% retracement of the 2007-2009 slump) followed by 1127.

CALENDARS
Key economic data:
-November PPI m/m (consensus 0.8%; prior 0.3%) and y/y (consensus 1.8%; prior -1.9%) at 8:30ET
-November core PPI, which excludes food and energy, m/m (consensus 0.2%; prior -0.6%) and y/y (consensus 0.9%; prior 0.7%) at 8:30ET
-December Empire Manufacturing at 8:30ET (consensus 24.0; prior 23.5)
-October Net Long-Term TIC Flows at 9:00ET (consensus $37.1 bln; prior $40.7 bln)
-November Industrial Production (consensus 0.5%; prior 0.1%) and Capacity Utilization (consensus 71.1%; prior 70.7%) at 9:15ET

Federal Reserve/Treasury:
-None

Key Note/Bond auction results:
-None

Earnings:
-AIR and ADBE are the only companies confirmed to report today after the close

Key industry conferences:
-Deutsche Bank Biotech Boston Confab — Companies presenting: THRX, BIIB, VRTX, ITMN, DNDN, ELN, CELG, ALKS, AMAG, HGSI, AMLN, ACOR, SGEN, GENZ, REGN, UTHR
-Raymond James IT Supply Chain Conference — Companies presenting: CTXS, TECD, LSI, AVT, SYMC, NSIT, SCSC, MXIM, PLXS, ARW, SNX, DELL, IM, MU, BELM, MALL
-Thomson Reuters Aerospace and Defense Summit (Day 2 of 3) — Companies presenting: LLL, GR, COL

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