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U.S. stock market report 1800 ET 18Nov2009- Earnings diary for Nov 19 ------------------------------------------------------------------------------

The day's earnings calendar includes quarterly results from Gap and Sears.

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Reuters Messaging: rm://caroline.valetkevitch.reuters.com@reuters.net 1756 ET 18Nov2009- Earnings diary for Nov 19 ------------------------------------------------------------------------------

The day's economic agenda includes the Labor Department's first-time claims for jobless benefits for the week ended Nov. 14 at 8:30 a.m. (1330 GMT).

Also, the Conference Board releases its report on October leading economic indicators, 10 a.m. (1500 GMT), and the Philadelphia Federal Reserve Bank releases its November business activity survey, 10 a.m. (1500 GMT).

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Reuters Messaging: rm://caroline.valetkevitch.reuters.com@reuters.net 1747 ET 18Nov2009-Goldman Sachs suggests sell Medtronic covered calls ------------------------------------------------------------------------------

Sell covered call options in Medtronic Inc ahead of the company's Nov. 24 earnings, Goldman Sachs derivative strategists wrote in a note.

"Headwinds in the cardio device markets and hospitals' inventory reduction should limit near-term upside," they said. "Option prices are high vs. realized and peers making call selling attractive." Cardio market weakness limits upside in neutral rated Medtronic, Goldman said.

With shares at $40.19, shareholders can sell the January 2010 $42 calls for $1. This strategy generates an attractive upfront premium and retains 7 percent upside, they said.

Goldman estimates Medtronic options imply a plus/minus 7 percent move on earnings day compared to a median move of 4 percent over the past eight quarters. Reuters Messaging: doris.frankel.reuters.com@reuters.net

1649 ET 18Nov2009-E*Trade call volume soars on deal prospects ------------------------------------------------------------------------------

E*Trade shares rose 9.03 percent to $1.69 and its call options surged after Ameritrade Holding Corp's Chief Executive Fred Tomczyk said he wants to put his cash to work, and will even entertain a deal involving smaller rival E*Trade Financial Corp under the right circumstances.

An acquisition involving a fellow online broker is the best use of the company's cash cushion, Tomczyk told the Reuters Global Finance Summit in New York.

The news prompted a flurry of activity in E*Trade's bullish options. In all, about 51,000 calls traded which is more than five times the number of its put options and three times the average daily call volume for the stock, said WhatsTrading.com option strategist Frederic Ruffy.

Investors snapped up the $2 call strikes in the November contract which expires this Friday and in the December contract which expires in 30 days, The stock would need to rise another 18.3 percent for the calls to finish in-the-money, he said.

Reuters Messaging: doris.frankel.reuters.com@reuters.net 1617 ET 18Nov2009-US STOCKS-Wall St ends lower; tech outlook weighs ------------------------------------------------------------------------------

U.S. stocks ended lower on Wednesday and snapped three days of gains, with the tech sector leading the decline after worrisome outlooks from two major software makers, including Autodesk Inc.

A surprising drop in U.S. housing starts last month also weighed on the market.

Based on the latest available data, the Dow Jones industrial average fell 11.11 points, or 0.11 percent, to end unofficially at 10,426.31. The Standard & Poor's 500 Index inched down just 0.52 of a point, or 0.05 percent, to finish unofficially at 1,109.80. The Nasdaq Composite Index slipped 10.64 points, or 0.48 percent, to close unofficially at 2,193.14.

Reuters Messaging: angela.moon.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS

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