plus 3, Stocks advance as pending home sales rise 1 pct - San Francisco Chronicle

Stocks advance as pending home sales rise 1 pct - San Francisco Chronicle
Mini-golf coming to Southridge - Milwaukee Journal Sentinel
Stocks rise modestly in early morning trading - Oregonian
Snow tracks lead police to stolen snacks - Wave 3

Stocks advance as pending home sales rise 1 pct - San Francisco Chronicle

Posted: 02 Feb 2010 07:54 AM PST

The National Association of Realtors, a trade group, says Tuesday its index of sale contracts rose 1 percent in December. The gain marks the ninth improvement over the past 10 months as buyers scrambled to take advantage of a first-time homebuyer tax credit.

Stocks rose on Monday after a strong reading on the manufacturing industry.

At midday, the Dow Jones industrial average is up 65 at 10,250. The Standard & Poor's 500 index is up 8 at 1,097, while the Nasdaq composite index is up 7 at 2,178.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

NEW YORK (AP) — Better news from the housing industry sent stocks higher Tuesday, including an increase in the number of people in contracts to buy homes.

The National Association of Realtors, a trade group, said its index of sale contracts rose 1 percent in December. It was the ninth improvement over the past 10 months as buyers scrambled to take advantage of a first-time homebuyer tax credit before it was set to expire last November.

"It's a slow, sustainable growth," said Daniel Penrod, senior industry analyst for the California Credit Union League. "Most people would prefer a quick rebound but that's not likely to happen."

The home sales report was the latest bit of encouraging news on the economy. Stocks rose on Monday after a surprisingly strong reading on the manufacturing sector, and on Friday the government reported that the U.S. economy grew at an annual rate of 5.7 percent in the final three months of 2009, a faster pace than expected.

Homebuilder stocks rose sharply after D.R. Horton Inc. posted its first profit since 2007 during its fiscal first quarter. Much of its $192 million profit during the October-December period came from a tax gain, but its revenue rose because of a 36 percent jump in home sales. Orders increased 45 percent.

The reports brought a positive tone to the market, which stumbled in late January as concerns arose that the recovery might be stalling and that the market's 10-month advance was running out of gas. The Standard & Poor's 500 index fell 3.7 percent in January, its worst month since hitting a 12-year low nearly a year ago.

In late morning trading, the Dow Jones industrial average rose 54.64, or 0.5 percent, to 10,240.17. The Standard & Poor's 500 index rose 6.29, or 0.6 percent, to 1,095.47, while Nasdaq composite index rose 3.99, or 0.2 percent, to 2,175.19.

Bond prices inched higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.64 percent from 3.66 percent late Monday.

Investors are turning their attention throughout this week to a series of economic reports to determine if the growth seen late last year has a good chance of continuing. The most important indicator will come on Friday when the Labor Department releases its January employment report.

In other earnings, candy maker Hershey's Co.'s earnings climbed 54 percent. The company said it would boost its dividend by about 7.5 percent.

UPS's fourth-quarter profit tripled thanks to a strong holiday shopping season and international business.

Crude oil rose $1.30 to $75.73 per barrel on the New York Mercantile Exchange.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 346.9 million shares compared with 331.2 million shares traded at the same point Monday.

The Russell 2000 index of smaller companies rose 1.45, or 0.2 percent, to 610.70.

In afternoon trading, Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 1 percent, and France's CAC-40 rose 1.2 percent. Earlier, Japan's Nikkei stock average rose 1.6 percent.

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Mini-golf coming to Southridge - Milwaukee Journal Sentinel

Posted: 02 Feb 2010 08:15 AM PST

Feb. 2, 2010 8:10 a.m. | Things are looking "Up" for Disney's digitally animated film, which became the first film ever to receive Oscar nominations for best picture and best animated film, it was announced early Tuesday morning in Los Angeles.

The honor was one of the surprising results of a decision by the Academy of Motion Picture Arts and Sciences to double the number of best picture nominations this year, to 10.

If the decision was intended to help promote studio films over the independent films, which often dominate the best picture category, it worked and it didn't.

James Cameron's technically impressive "Avatar," which has become the most successful film ever made, would have received a nomination regardless, and the extra slots did allow the conventionally inspirational "The Blind Side," with Sandra Bullock, to sneak in.

But the rest of the list of best-picture nominees was eclectic and often surprising. The sci-fi film "District 9," which also received a nomination for best adapted screenplay; "Precious: Based on the Novel 'Push' by Sapphire," which also received nominations for its director, Lee Daniels, and actresses Gabourey Sidibe and Mo'Nique; "A Serious Man," by Joel and Ethan Coen; "Inglourious Basterds," and its director Quentin Tarantino, who also received a screenplay nomination; "An Education," along with actress Carey Mulligan and screenwriter Nick Hornby; and "Up In the Air," and director Jason Reitman. »Read Full Article

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Stocks rise modestly in early morning trading - Oregonian

Posted: 02 Feb 2010 08:15 AM PST

By The Associated Press

February 02, 2010, 6:42AM

NEW YORK -- Stocks rose modestly Tuesday as investors are betting that upcoming economic reports will show more signs of growth.

A report on the housing market in December is expected to show continued improvement in the battered sector. Major indexes rallied Monday following encouraging signs about growth in the manufacturing sector.

The shipping heavyweight UPS and candy maker Hershey joined the cast Tuesday of companies to report upbeat earnings.

Overseas markets mostly rose following gains in the U.S. on Monday. But Asian markets gave up some gains on speculation that China's government will continue to try and curb runaway lending in an effort to avoid speculative bubbles.

Australia's central bank unexpectedly left a key interest rate unchanged. Australia, which was the first major central bank to start raising rates coming out of the global downturn, said it is concerned about sovereign credit around the world and China's policy to slow its economic growth.

Stocks are trying to rally for a second straight day after a week and a half stretch that saw major indexes tumble over concerns about tightening regulations on the banking sector and the sustainability of a recovery.

The Senate is holding hearings Tuesday to discuss President Barack Obama's plan to overhaul the banking sector and restrict trading by the nation's biggest financial institutions.

In early morning trading, the Dow Jones industrial average rose 20.48, or 0.2 percent, to 10,206.01. The Standard & Poor's 500 index rose 2.30, or 0.2 percent, to 1,091.48, while Nasdaq composite index rose 1.22, or 0.1 percent, to 2,172.42.

Investors are turning their attention throughout this week to economic reports to determine if the growth seen late last year is continuing. The reports culminate with the January employment report to be released on Friday.

In the meantime, the National Association of Realtors is expected to say its index of pending home sales rose in December. Economists polled by Thomson Reuters predict the index rose to 97.1 in December from 96 in November.

The index, which measures sales contracts signed, is a key barometer of sales that will close in March and April. A collapse in the housing market helped push the country into recession, but like many other sectors it is now showing signs of a modest recovery.

The report is due out at 10 a.m. EST.

Homebuilder D.R. Horton Inc. posted its first profit since 2007 during its fiscal first quarter. Much of its $192 million profit during the October-December period came from a tax gain, but its revenue rose because of a 36 percent jump in home sales. Orders increased 45 percent.

In other earnings, candy maker Hershey's Co.'s earnings climbed 54 percent. The company said it would boost its dividend by about 7.5 percent.

UPS's fourth-quarter profit tripled thanks to a strong holiday shopping season and international business.

January auto and truck sales reports will also be released throughout the day.

-- The Associated Press

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Snow tracks lead police to stolen snacks - Wave 3

Posted: 02 Feb 2010 08:08 AM PST

KINGSPORT, TN (AP) - It was a Zinger of a theft in Sullivan County.

It also included cupcakes, Twinkies and other snack cakes from the Merita Bread Company.

The Kingsport Times-News cites a report from the Sullivan County Sheriff's Office in reporting 34-year-old James M. Denoon and 18-year-old Anthony Stout were found hiding under a truck at the bakery late Friday night after an employee heard noises coming from a delivery truck.

The deputies found about $300 worth of snack cakes stacked on the ground.

Denoon and Stout were charged with theft under $500 and two counts of auto burglary.

Tracking them wasn't hard. The National Weather Service said Tuesday that by midnight Friday, there was more than an inch of snow on the ground.

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