STOCKS NEWS US-Markets advance on recovery optimism

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1109 ET 5April2010
Markets advance on recovery optimism

U.S. stocks advanced on Monday, sending the Nasdaq up more than 1 percent and the Dow Jones industrial average near 11,000, as a spate of economic reports fueled optimism about the economic recovery and a stabilized labor market.

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The Dow Jones industrial average was up 56.91 points, or 0.52 percent, at 10,983.98. The Standard & Poor's 500 Index was up 9.52 points, or 0.81 percent, at 1,187.62. The Nasdaq Composite Index was up 26.27 points, or 1.09 percent, at 2,428.85.

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1055 ET 5April2010
National Dentex to go private for about $100 mln

National Dentex Corp, an operator of dental laboratories, said it agreed to be acquired by GDC Holdings Inc, a holding company of dental implant manufacturer GeoDigm Corp, for $17 per share in cash.

The deal is valued at about $100 million based on the 5.9 million shares outstanding at the end of fourth quarter.

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Shares of National Dentex soared 68 percent to $16.85.

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1051 ET 5April2010
Melco Crown ADRs rally after JPMorgan upgrade

JPMorgan raised Melco Crown Entertainment to 'overweight' from 'neutral,' partly due to the Macau casino operator's exposure to the world's largest gambling market and improving mass market volume at its flagship City of Dreams property.

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U.S.-listed shares of the company, a joint venture between Hong Kong-listed Melco International Development Ltd and Australia's Crown Ltd , rose 7.3 percent to $5.

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1039 ET 5April2010-S&P industrial sector stocks trade above 50
day average

About 90 percent of stocks in the S&P 500 are currently trading above their 50-day moving averages which is at the top end of the indicator's range over the last year, said Bespoke Investment Group on its Website. In the industrials sector, 100 percent of stocks are trading above their 50-days. The financial sector was tagging behind with a reading of 97 percent, while materials, consumer discretionary, consumer staples and technology are all above 90 percent, Bespoke Investment Group said. Health Care, utilities, energy and telecom have the lowest readings, but even these sectors are all at or above 75 percent, it said.

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1031 ET 5April2010 JPMorgan suggests Amazon July call spread

JPMorgan advises clients to buy Amazon.com July 2010 $135-$155 call spreads for those who agree with the bank's fundamental view of more upside in the Internet retailer's shares. The stock was up nearly 0.5 percent at $132.41. The trade can be entered into for a net debit of $6.07. JPMorgan derivative strategists picked July expiration as it includes an earnings announcement and gives enough time for the firm's fundamental view to materialize. 'Given the recent price dispute with publishers, it would be prudent for investors to gain upside exposure through call spreads rather than outright stock,' the note said. The break-even for the trade is $141.07. If at July expiration the stock is below $135 the investor would lose the premium. If at expiration the stock is between $135 and $155 the investor would make the difference between the stock price and $135 less the premium and if the stock tops $155 the investor would make a maximum profit of $13.93, the note said.

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