IBD's Top 10 - Tuesday

• Investor's Business Daily
• On 7:21 pm EDT, Tuesday October 27, 2009

Stock Market's Slump Worsens

1 Leaders got slammed as the market fell amid weak confidence data and Baidu's weak Q4 outlook. The Nasdaq fell 1.2%, S&P 500 0.3% and NYSE composite 0.4%. The Dow gained 0.1%. Volume rose across the board. Retail and leisure were hard hit. The 10-year T-yield fell on a very strong 2-year auction. Stock woes and weak econ reports also depressed rates.

Job Woes Torpedo Confidence

2 The Consumer Confidence Index tumbled 5.7 points in Oct. to 47.7, defying forecasts for a slim gain. The present situation index tumbled to a 26-year low, while the expectations gauge also fell sharply. Nearly half of Americans think jobs are hard to find. The report is a bad sign headed into the holiday shopping season.

Home Prices Continue To Rise

3 The highly regarded Case-Shiller home price gauge for 20 cities rose 1.2% in Aug., the 4th straight monthly gain. Year over year, home prices slid 11.3%, but that was the smallest decline since Jan. '08. The data provide more evidence of a housing recovery, but rising unemployment and home repossessions are risks.

Lieberman Rejects Public Option

4 Sen. Joe Lieberman, I-Conn., said he would join a GOP filibuster to block any gov't-run insurance plan. Majority Leader Harry Reid proposed letting states opt out, but he seems to lack the votes. Moderate Dem senators also weren't vowed by Reid's move to satisfy liberals. Maine's Olympia Snowe, the lone GOP vote for the Senate Finance bill, said she'd oppose Reid's bill.

Schools Dive On Apollo Probe

5 Apollo (NasdaqGS:APOL - News) dived 16% late after the for-profit educator said the SEC is informally probing its revenue recognition practices. The Univ. of Phoenix's parent also said Q4 EPS rose 41% to $1.06, 2 cents over views. Several other school stocks sold off late. A number of for-profit educators faced federal probes about 5 years ago.

Dodd: Home Credit Deal 'Done'

6 Senate Banking Committee Chairman Chris Dodd, D-Conn., said top Dems agreed to extend the 1st-time homebuyer tax credit, set to expire Nov. 30. Bloomberg reported Senators are near a deal to extend the program to home sales signed -- not closed -- by April 30. The credit would be cut 10% to $7,290, but those who've owned their current home for at least 5 years also would be eligible.

Visa Tops, But Payments Fall

7 The world's top credit card company's Q4 EPS rose 28% to 74 cents ex items, topping views by 2 cents. Revenue rose 10% to $1.88 bil, above views. Consumers used their debit cards more and total transactions rose 9% to 10.3 bil, but payments volume fell 2%. Visa (NYSE:V - News) hiked its quarterly dividend by 19% and OK'd a $1 bil share buyback plan. Visa shares rose late.

Afghan Bombs Kill 8 Americans

8 The U.S. troops died in 2 separate bomb attacks in southern Afghanistan, making Oct. the deadliest month of the war for U.S. forces since the 2001 invasion to oust the Taliban. 55 U.S troops have now been killed this month, topping the previous high of 51 that occurred in Aug. The 8 deaths came just a day after 14 Americans died in Afghanistan in 2 helicopter crashes.

Iran Eyes Uranium Deal Changes

9 Tehran said it accepted the framework of a U.N.-draft nuclear deal to ship uranium stockpiles to other countries for further enrichment, but said it would seek "important changes" that could test world powers' willingness to make concessions. The deal could temporarily cut Iran's uranium stockpile for potential use in nuclear weapons .

Honda Tops Q2, Triples Outlook

10 The Japanese automaker's operating profit fell 56% to $712 mil, over views. Sales fell 27% to $22.7 bil. Honda (NYSE:HMC - News) nearly tripled its full-year profit outlook to $2.069 bil, above views, helped by improved sales of Honda Civic backed by gov't incentives. German rival Daimler (NYSE:DAI - News) returned to profit, but warned of lower full-year sales. Honda's U.S. shares rose 5%, Daimler's fell 3%.

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