) -- Here are the top stock market headlines for the morning of Thursday, June 3, 2010.

Thursday's Early Headlines

  • ADP Report Shows Private-Sector Job Gains in May -- Automatic Data Processing's (ADP) - Get Report latest employment report showed that the private sector added 55,000 jobs in May, compared to forecasts for a 60,000 increase. Combined upward revisions to March and April totaled 33,000. May's increase was the fourth consecutive monthly gain for the private sector, although the average of those four monthly gains is a modest 39,000. "The slow pace of improvement from February through May is consistent with the pause in the decline of initial unemployment claims that occurred during the winter months," the ADP report said. The Labor Department's nonfarm payrolls report, scheduled for release Friday at 8:30 a.m. ET, is also expected to show that the U.S. economy added 500,000 jobs last month, according to a estimate.
  • Jobless Claims Fall by 10,000 -- The Labor Department said initial weekly jobless claims fell by 10,000 last week to 453,000, compared with expectations of 455,000. The four-week moving average of initial claims rose 1,750 to 459,000.
  • May Same-Store Sales Top Expectations -- Out of 21 retailers to report May comparable store sales data so far, 13 have topped estimates, according to Thomson Reuters. Zumiez (ZUMZ) - Get Report and Aeropostale (ARO) had better-than-expected comps. Costco Wholesale (COST) - Get Report, Limited (LTD) and BJ's Wholesale (BJ) - Get Report were among the best reported comp sales. Hot Topic( HOTT) and was among the worst with a 9% decline, and The Buckle (BKE) - Get Report disappointed with a 5.4% drop.
  • JPMorgan Fined $49 Million by U.K. Regulator -- JPMorgan Chase (JPM) - Get Report has been fined 33.3 million pounds ($49 million) by the U.K. Financial Services Authority for failing to protect clients' funds. The fine is the largest the U.K. regulator has ever issued. The FSA said JPMorgan Chase between November 2002 and July 2009 failed to segregate client money of between $1.9 billion and $23 billion held by its futures and options business.
  • Prudential PLC Deal for AIG's Asian Unit is Dead -- U.K. insurer Prudential PLC (PUK) - Get Report said Thursday the agreement to acquire American International Group's (AIG) - Get Report Asian life insurance unit has been terminated. Prudential a day earlier said it was in negotiations to end the deal to buy AIA for $35.5 billion. Prudential had faced strong resistance from shareholders who believed it was paying too much for AIA, and was uncertain whether it could win the required 75% backing from shareholders.
  • Nielsen IPO Reportedly Imminent -- Nielsen Holdings, the media company, plans to file for an initial public offering imminently, The Wall Street Journal reports, citing people familiar with the deal. Nielsen, the market-research company that measures television viewership, could seek to raise as much $1.5 billion in equity, the Journal reports. The IPO's lead underwriters are expected to be JPMorgan Chase and Morgan Stanley.

Thursday's Earnings Roundup

  • Joy Global( JOYG) notched a second-quarter profit of $1.15 a share on revenue of $896 million, compared with estimates for a profit of 77 cents a share on revenue of $754.8 million. Looking ahead, Joy Global raised its earnings and revenue forecast for the full year.
  • Suntech Power (STP) said it had first-quarter earnings of 11 cents a share on revenue of $588 million, compared with the Thomson Reuters average estimate for a profit of 13 cents a share on revenue of $580.2 million. Suntech upped its 2010 annual shipment target to 1.25 to 1.3 GW, citing strong demand.

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-- Written by Robert Holmes in Boston


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