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US STOCKS-Wall St little changed; Hasbro falls

Published 10/19/2009, 10:18 AM
Updated 10/19/2009, 10:21 AM
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* BB&T Q3 profit drops, sees loan stability

* Hasbro earnings top view; revs fall short

* Dow up 0.2 pct, S&P 500 up 0.1 pct, Nasdaq off 0.2 pct

* For up-to-the-minute market news, click [STXNEWS/US] (Updates to midmorning)

By Chuck Mikolajczak

NEW YORK, Oct 19 (Reuters) - U.S. stocks were little changed on Monday, as investors digested a new batch of corporate earnings for signals about the potency of an economic recovery.

Diversified manufacturer Eaton Corp said quarterly profit fell sharply from a year ago, but still topped expectations, adding it saw early signs of recovery in its markets. Shares rose 6 percent to $64.01. For details, see [ID:nN19314996]

BB&T Corp slipped 4.5 percent to $26.99 after the regional bank reported third-quarter profit tumbled by 56 percent, but said early indicators of problem loans were largely stable compared with the second quarter. [ID:nN18349933]

Hasbro Inc shed 4.6 percent to $28.15 after the toymaker posted higher-than-expected quarterly profit, lifted by a demand for movie-related toys, but revenues fell short of the Wall Street view. [ID:nN19363695]

"What we've seen so far has been pretty good. Revenues were better than expected, earnings were been better than expected. So what we saw last week was clearly better-than-expectations. Does that continue?" said Stephen Massocca, managing director, Wedbush Morgan in San Francisco.

"By the time we get to the end of this week, we'll have a real good idea of how the numbers look. But from what we've seen so far, the numbers look very, very good."

The Dow Jones industrial average <.DJI> gained 24.03 points, or 0.24 percent, to 10,019.94. The Standard & Poor's 500 Index <.SPX> added 1.54 points, or 0.14 percent, to 1,089.22. The Nasdaq Composite Index <.IXIC> dropped 3.53 points, or 0.16 percent, to 2,153.27.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)

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