2:30PM NY, U.S. Market Movers
Avon Products (AVN: chart) reported a slight gain in fourth-quarter profit, helped by strength in its beauty business, as its restructuring took hold. Shares of Avon gained more than 10% at one point during touching $38.37, its highest level in more than a year. The New York-based seller of cosmetics, jewelry and said that bits net income increased to $184.1 million, or 41 cents per share, compared with $183.2 million, or 40 cents, earned in the final three months a year earlier. Quarterly revenue rose 9% to about $2.62 billion, including nearly $2.6 billion in net sales.

Benchmark Electronics (BHE: chart) said that its fourth-quarter profit climbed as revenue grew. The company earned $28.3 million, or 43 cents per share, up 15% from $24.7 million, or 38 cents per share, during the same period in the previous year. Revenue climbed 18% to $737.3 million from $625.4 million a year ago.

Celanese (CE: chart) said its fourth-quarter profit fell 56% on a higher tax rate and comparisons to a prior-year quarter that included a large one-time gain. Net income declined to $77 million, or 45 cents per share, compared with $175 million, or $1.02 per share in the year-ago period. Adjusted earnings increased to 77 cents per share from 60 cents per share. Sales rose 8% to $1.66 billion from $6.03 billion in the year-ago.

Hoku Scientific (HOKU: chart) jumped 9.8% after the company said the value of its contract with Solar-Fabrik AG was increased. In early-December, Hoku said it expected to generate $120 million to $140 million from an agreement to supply polysilicon chunks to Solar-Fabrik. The company said the amount of the planned contract was raised to $175 million.

International Securities Exchange (ISE: chart) said robust trading on the electronic marketplace pushed fourth-quarter profit up 51%.Profit for the latest quarter rose to $15.1 million, or 38 cents per share, from $10 million, or 26 cents per share, a year earlier. Total revenue increased 22% to $53.3 million from $43.6 million in the same quarter a year ago. Shares rose 7.8%.

Littelfuse Inc. (LFUS: chart) said its fourth-quarter profit slipped from last year due to hefty charges. Net income for the quarter was $4.6 million, or 21 cents per share, down from $5.2 million, or 23 cents per share, for the fourth-quarter 2005. Excluding certain expenses and charges, earnings were 25 cents per share. Revenue for the quarter was $127.8 million, up from $115.4 million in the year ago period.

National Oilwell Varco (NOV: chart) said strong demand for its rig technology products and oil field supplies powered a steep rise in fourth-quarter profit. Net income more than doubled to $239.2 million, or $1.35 per share, from $101.6 million, or 58 cents per share, a year earlier. Revenue climbed 42% to $2.08 billion from $1.38 billion a year ago.

Nuance Communications (NUAN: chart) Shares of Nuance Communications, Inc. jumped as the speech and imaging software company reported a 75% rise in revenue for the first quarter. Nuance reported $132.4 million in revenue. The company reduced its losses to $1.4 million, or a penny per share.

Anadarko Petroleum Corp. (APC: chart), oil and gas company, reported fourth-quarter earnings of $1.92 billion, or $4.13 per share, up from a year-ago equivalent profit of $875 million, or $1.87 per share. The latest results included a number of items, including a gain of $1.77 billion, or $3.80 per share, from the sale of the company''s Canadian unit. On a continuing operations basis, the company earned $186 million, or 40 cents per share. Revenue climbed to $3.12 billion compared to $1.92 billion in the same period a year earlier.

Art Technology Group Inc. (ARTG: chart), E-commerce software provider, said that its fourth-quarter net earnings increased to $5.06 million, or 4 cents per share, compared with $3.18 million, or 3 cents per share, in the year-ago period. Revenue climbed to $32.2 million versus $25.7 million in the same period a year earlier. Shares fall 17.2%.

1:00PM European markets closed mixed after touching multi-year highs.
European stocks hit multi-year highs on Tuesday, boosted by solid gains in the health-care sector. Fresenius Medical Care climbed 3.9% in Frankfurt as investors mulled the revenue implications of potential changes to dialysis treatment payments in the U.S. Property stocks also contributed to the upside move, with shares in France''s Unibail up 2.6%, Italy''s Beni Stabili up 1.8% and Liberty International higher by 1.2.%. Among other advancing stocks, insurance group Aviva''s shares rose 1.8% after the company said its 2006 total sales rose 22% The U.K.''s FTSE 100 closed up 0.5 % at 6,346.30, after touching a new six-year high earlier in the day, lifted by gains for supermarkets Tesco and William Morrison. Lloyds TSB also helped, rising 1.4% after Credit Suisse raised its rating on the stock. U.K. oil giant BP limited the upward move with a drop of 1.2% on earnings news. The Dutch AEX index touched its highest level in just under five-years at 509.35. It closed up 0.2% at 507.40. The German DAX Xetra 30 closed flat at 6,875.70. The French CAC-40 index slipped 0.1% at 5676.78, reversing from a 51/2-year high.

Crude oil prices traded above $59 a barrel on expectations of increased fuel demand, due to colder winter weather. Light, sweet crude March delivery rose 46 cents to $59.20 a barrel. Heating oil added 2 cents to $1.7001 a gallon, while gasoline rose 2 cents to $1.5774. Natural gas fell 8 cents to $7.55 per 1,000 cubic feet. London Brent rose 75 cents to $58.85. The U.S. dollar traded mixed against its major currency rivals. The euro was quoted at $1.2946, up from $1.2931. The dollar bought 120.36 yen, up from 120.33. The British pound was quoted at $1.9678, up from $1.9602. European gold prices advanced. In London, gold traded at $652.03 per troy ounce, up from $648.55. In Zurich, the precious metal traded at $649.60 per ounce, up from $648.55. Silver closed at $13.57, up from $13.48.


11:30AM Market averages turned lower, led by tech stocks.
U.S. stocks turned to the downside, reflecting rallying oil prices and weakness in the tech sector ahead of earnings release from Cisco Systems (CSCO: chart) after the close. The Dow was dragged down by Hewlett-Packard (HPQ: chart) which lost 1% on news that Eastman Kodak (EK: chart) is introducing higher-priced printers with lower-priced cartridges. Apple (APPL: chart) declined 0.6% after Wal-Mart (WMT: chart) sad it was testing a download service. National Semiconductor (NSM: chart) dropped 4.4% after the company projected a 14% to 15% drop in Q3 revenue, due to lower shipments. The downside move was limited by gains for blue chips Alcoa (AA: chart), Dupont (DD: chart) and Coca Cola (KO: chart). Hewlett-Packard Co.

In earnings news, McClatchy Co. newspaper publisher, rose 2.4% after the company posted a Q4 loss following the sale of its largest newspaper, the Minneapolis Star Tribune. The company''s earnings before one-time expenses topped expectations. Las Vegas Sands Corp. (LVS: chart) fell 5.5% after the casino company''s Q4 profit rose 3.3% amid increased revenue in Macau and Las Vegas. In late morning trading, the Dow fell 6.16, or 0.05%, to 12,655.58. The Standard & Poor''s 500 index fell 1.14, or 0.08%, to 1,445.85, and the Nasdaq composite index fell 10.27, or 0.42%, to 2,460.33. Bond prices fell while investors waited for the Fed officials'' remarks, with the yield on the benchmark 10-year Treasury note rising to 4.82% from 4.81% late Monday.


9:45AM Market opened slightly higher. Rising oil boosted energy stocks
Wall Street opened slightly higher, with investors awaiting speeches by top Fed Reserve officials. An increase by the oil price provided some boost to energy stocks like Exxon Mobil (XOM: chart) and Chevron Corp. (CVX: chart). Anadarko Petroleum (APC: chart) also advanced on news that its Q4 profit more than doubled. However, shares of BP (BP: chart) dropped 1% after the oil giant reported a 22% profit drop and warned of lower future production. The Dow Jones Industrial average was supported by gains for Alcoa ((AA), Intel (INTC: chart), and Coca Cola (KO: chart). The blue-chip stock Wal-Mart (WMT: chart) also provided a lift after the retailer announced that it is testing a possible video download service.

Elsewhere, Bankrate (RATE: chart) rose 11% after posting 50% profit jump in Q4 on robust advertising on its Web sites. International Securities Exchange (ISE: chart), the largest U.S. equity options market, reported 51% profit increase in Q4, helped by robust trading on the electronic marketplace. The stock climbed 9% in early trading. In merger-and-acquisition news, Mortgage insurance provider MGIC Investment Corp. (MTG: chart) agreed to buy rival Radian Group Inc. for $4.9 billion in stock to form a mortgage and credit risk insurance company with total assets of nearly $15 billion. MGIC Investment shares jumped 10%. Equity Office Properties Trust (EOP: chart) rose 1% after the real estate investment trust approved an improved bid for the company from Blackstone Group, valued at $55.50 a share cash, or about $39 billion. In the first hour of trading, the Dow rose 11.30, or 0.09%, to 12,673.04. The Standard & Poor''s 500 index rose 2.85, or 0.20%, at 1,449.84, and the Nasdaq composite index added 5.96, or 0.24%, to 2,476.56. Bonds fell, with the yield on the benchmark 10-year Treasury note rose to 4.82% from 4.81% late Monday.


9:30AM NY-2:30PM London The FTSE 100 advanced on bid speculation.
The UK market was trading higher on Tuesday. By mid-day, the FTSE 100 was trading 25.4 points, or 0.56%, higher at 6,343.3. Supermarket groups were again in favor, with Tesco and William Morrison leading the advance as the market awaits further bid developments at J Sainsbury. Reportedly, private equity firm Cinven is in talks with Texas Pacific Group on a possible bid for the supermarket chain. Morrison rose 2.7%, while Tesco gained 2.5%. UBS also upgraded both Tesco and William Morrison. Lloyds TSB was also 1.6% higher on positive broker comment. Credit Suisse raised the rating on the bank from neutral to outperform. Bid talk also lifted Cable & Wireless, 2.3% higher, as reports suggest that Deutsche Telekom was considering a move for the UK group. The record defense budget that President George Bush requested from Congress boosted BAE Systems 3.2% higher. Aviva was another advancer up 0.3% on 25% growth in life and pensions sales in the UK.