Ahead of the Bell: Deere profit seen rising (AP) and HK stock index up 3.8 pct after Wall Street gains (AP)

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City of Industry, CA --(www.USEquityNews.com)-- 11/26/2008 - US Market industry alert provided by U.S. Equity News. NEW YORK (AP) -- Deere & Co., the world's largest maker of farm machinery, is expected to post higher profit for its fiscal fourth quarter on Wednesday.The U.S. farm sector remains strong, with sales of large tractors and combines up 31 percent through September, but international demand is weakening, notes Robert W. Baird analyst Matthew McConnell. That's one reason he rates Deere "Hold" even with the expected increase in profit.JPMorgan analyst Ann Duignan writes that Deere, which also makes construction and forestry equipment, could benefit from an expected stimulus package from the incoming Obama administration that will likely include spending on infrastructure.Analysts surveyed by Thomson Reuters expect Deere to report a profit of 99 cents for the fourth quarter, up from 94 cents a year ago. [Read the full article]


HONG KONG (AP) -- Hong Kong's stock index rose nearly 4 percent Wednesday amid growing optimism after Wall Street gained and the U.S. announced new measures to stimulate its economy.The blue-chip Hang Seng Index added 490.85 points, or 3.8 percent, to 13,369.45. The upward move followed Wall Street, where the Dow and Standard & Poor's 500 benchmarks advanced for a third straight session. A U.S. government plan to boost the economy by aiding consumer lending also seemed to help investor confidence, analysts said."The sentiment has improved. I think investors are getting more confidence from what governments around the world are doing," said Y.K. Chan, a fund manager at Phillip Capital Management.While volume was thin, suggesting a lack of conviction among buyers, Hong Kong shares could receive a further boost Thursday from China's move to slash a key interest rate, analysts said. [Read the full article]

NEW YORK (AP) -- An analyst downgraded shares of Copart Inc. on Wednesday, saying a stronger dollar, falling scrap prices and a cautious outlook from a competitor present risks to the junk car auction service.Robert W. Baird analyst Craig Kennison cut his rating on Copart to "Neutral" from "Outperform" and his price target to $30 from $49. He called the company a "strong relative performer," but noted it has still fallen 26 percent in the last 12 months.Kennison said a stronger U.S. dollar and falling scrap prices could present a challenge to the Fairfield, Conn., company. He added that its main competitor, Adesa Inc., recently reported a decline in same-store sales and a tougher salvaging environment.His price target on Copart implies an expected 14 percent return over its Tuesday close of $26.29. Shares of Copart have ranged between $24.80 and $49.34 in the last 52 weeks. [Read the full article]

NEW YORK (AP) -- Jefferies & Co. analyst Arthur Henderson upgraded shares of HealthSouth Corp. Thursday, citing the inpatient rehabilitation services company's resiliency to an economic downturn.He upgraded the stock to "Buy" from "Hold" and maintained a $13.50 price target. Still, the Birmingham, Ala., company's stock hasn't been able to dodge the impact from a weak stock market and continued concerns about the faltering economy. The stock is down 55.8 percent since January, and closed at $9.29 Tuesday.But, in October, the company raised its 2008 profit outlook because of better-than-expected earnings in the third quarter and lower debt.The company expects full-year profit between 23 cents to 25 cents per share. [Read the full article]

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