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Jobless Claims: Thursday's Headlines

Initial jobless claims fell to 456,000 last week from a revised 459,000 in the week prior



) -- Here are the top stock market headlines for the morning of Thursday, June 10, 2010.

Thursday's Early Headlines

  • Jobless Claims Fall; Trade Deficit Grows -- The Labor Department said initial jobless claims fell to 456,000 last week from a revised 459,000 in the week prior. That compares to economists estimates for claims to fall to 450,000. Continuing claims dropped to 4.46 million from 4.71 million. Meanwhile, the Commerce Department said the trade deficit increased slightly to $40.3 billion in April from a revised $40 billion. Economists expected the trade deficit to increase to $41.3 billion.
  • Bank of England, ECB Leave Rates Unchanged -- The Bank of England left its base interest rate at a record low of 0.5% for the 16th consecutive month and the European Central Bank kept its key interest rate unchanged at 1%. The BOE said it will maintain the stock of asset purchases financed by the issuance of central bank reserves at €200 billion.
  • Apple iPad Users Caught in AT&T Security Breach -- More than 100,000 early adopters of the Apple (AAPL) - Get Report iPad, including New York Mayor Michael Bloomberg and President Obama's right hand man Rahm Emanuel, were vulnerable to a security breach of AT&T's (T) - Get Report Web site, Valleywag reports. The breach allowed access to email addresses and SIM card identifier numbers for 114,000 iPad users on the AT&T's wireless network.
  • SEC Probes Second Goldman CDO: Report -- The Securities and Exchange Commission has stepped up its examination into a collateralized debt obligation by Goldman Sachs (GS) - Get Report that wasn't part of the civil fraud charges filed against the firm in April, The Financial Times reports. The SEC's interest in Hudson Mezzanine Funding, a $2 billion CDO, comes amid settlement talks with Goldman over accusations that the bank defrauded investors in Abacus, a similar CDO, the newspaper reports, citing people close to the matter.
  • AIG Rescue 'Poisonous,' U.S. Panel Says -- A congressional panel attacked the U.S. government's rescue of American International Group (AIG) - Get Report in 2008 and said the $180 billion-plus bailout of the stricken insurer continued to have a "poisonous" effect on capital markets, The Financial Times reports. The report by the Congressional Oversight Panel, which was created in 2008 to review the financial bailout, said the government could have acted earlier and more aggressively to secure a private rescue of AIG.

Thursday's Earnings Roundup

  • Del Monte (DLM) said it had fiscal fourth-quarter earnings of 31 cents a share on revenue of $954 million, compared to the Thomson Reuters average estimate for a profit of 22 cents a share on revenue of $1 billion. Del Monte offered mixed guidance for the full fiscal year, with earnings above the Thomson Reuters consensus target but revenue predicted to be below analysts' estimates.
  • lululemon athletica (LULU) - Get Report posted first-quarter earning of 27 cents a share on sales of $138.3 million, above the consensus estimate for earnings of 21 cents a share on revenue of $128.2 million. Looking ahead, lululemon offered full-year earnings guidance that was inline with estimates. Full-year revenue guidance exceeded the average analyst target.

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-- Written by Robert Holmes in Boston


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