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U.S. stock market report 1143 ET 21April2009-Capital One up ahead of earnings, lifting peers ------------------------------------------------------------------------------

Shares of Capital One Financial, a leading credit card issuer, rose on Tuesday, ahead of the scheduled release of the company's first-quarter results after the closing bell.

The mean estimate of analysts polled by Thomson Reuters is for Capital One to report a loss of 4 cents a share and revenue of $4.14 billion in the quarter. In the year-ago period, it earned $1.47 a share on revenue of $4.58 billion.

Its stock surged 10 percent to $14.72. Among its peers, Dow component American Express was up 0.2 percent to $19.01, Visa rose 4.6 percent to $57.50, MasterCard advanced 6.6 percent to $161.91 and Discover Financial rose 6.5 percent to $7.97.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1133 ET 21April2009-Small caps set to point way out of recession ------------------------------------------------------------------------------

Small cap stocks point the way out of a recession ahead of their larger counterparts, according to a report from Russell Investments, which compiles the Russell 2000 small cap index.

Russell Investments says that in four recession periods since 1979 small cap stocks have led large caps prior to the inflection point, and small caps tend to move quickly as the economic environment improves.

Since stocks hit a bear market low on March 9 the Russell 2000 has rallied 33 percent compared to a 23.4 percent increase in the S&P 500.

However the Russell 2000 is down 8.4 on on the beginning of the year compared to a decrease of 7.6 percent for the S&P 500.

"Investors who loaded up on small caps relative to large caps three and six months prior to the bottom and those who timed the bottom perfectly, had on average the best returns," said Stephen Wood, Senior Portfolio Strategist at Russell Investments

Reuters Messaging:rm://Edward.Krudy.reuters.com@reuters.net 1124 ET 21April2009 Magna International puts stir as shrs dip ------------------------------------------------------------------------------

Auto parts supplier Magna International has drawn bearish option order flow. Its shares fell 13 cents to $33.56 near midday and the equity's options volume is 17 times the norm with 8,255 puts and 267 calls traded, according to Trade Alert. Sentiment based on order flow is 79 percent bearish, Trade Alert data shows. Most of the activity is in June $30 puts, with 5,366 contracts earlier traded and 90 percent hitting ask-side. ISEE sentiment data on the International Securities Exchange confirm that investors are opening to buy puts in MGA, said WhatsTrading.com option strategist Frederic Ruffy. The demand for options sent its implied volatility to 72 percent, up from about 67 percent the day before. The company's earnings are due out late April or early May, he said. Reuters Messaging: doris.frankel.reuters.com@reuters.net 1114 ET 21April2009-Markets rise on United Tech results ------------------------------------------------------------------------------

Major U.S. indexes rose on Tuesday, erasing previous losses as a profit from United Technologies, a Dow component, beat expectations and lifted the Dow. Markets also rose on strength in the tech sector, which offset concerns about corporate profits.

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The Dow Jones industrial average rose 0.5 percent to 7,877.49 while the S&P 500 gained 0.8 percent to 838.08 and the Nasdaq was up 1.3 percent to 1,629.14.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1107 ET 21April2009 KeyCorp draws put buyers after results ------------------------------------------------------------------------------

KeyCorp shares fell 85 cents to $6.55 after the regional bank posted a wider-than-expected loss due to mounting loan loss reserves as the credit environment deteriorated.

Shortly after the open, a buyer snapped up several thousand downside puts in May, contributing to a brief dip as low as $6 as hedging pressure hit shares, said Trade Alert president Henry Schwartz. He noted the buyer used a sweep router to buy 1,324 May $4 puts for a 35-cent premium, followed seconds later with a buy of 1,984 May $5 puts for a 55-cent premium. In all, 9,164 puts and 6,970 calls crossed the tape in KeyCorp during the first 90 minutes of trade, three times the usual combined daily volume, according to Trade Alert.

Reuters Messaging: doris.frankel.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS

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