June 19, 2009 / 12:18 PM / in 9 years

STOCKS NEWS US-Private equity firms eye AIG unit-source

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 For U.S. stock market report double-click [.N] 0805 ET 19June2009-Private equity firms eye AIG unit: source ------------------------------------------------------------------------------
  Several U.S. private equity firms and Taiwanese financial groups are showing early interest in buying AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise around $2 billion.
 U.S. private equity firm JC Flowers & Co and Taiwan’s Fubon Financial Holding Co Ltd (2881.TW) were expected to pursue a bid for the unit, Nan Shan Life, according to sources close to the process.
 The official auction for the business began within the last week, sources said, with sell-side adviser Morgan Stanley (MS.N) distributing key financial data to potential buyers.
 For details, see [ID:nHKG68156]
 Shares of AIG rose 2 percent to $1.50 in premarket trading.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0757 ET 19June2009-Smith & Wesson up after deal, Q4 revs ------------------------------------------------------------------------------
 Shares of Smith & Wesson Holdings Corp SWHC.O rallied in premarket trading on Friday, after the firearms maker said it would buy privately held Universal Safety Response Inc in a cash and stock deal.
 It also reported fourth-quarter revenue that was well ahead of expectations.
 For details, see [ID:nBNG442491]
 Shares gained 16 percent to $5.72 in premarket trading.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0749 ET 19June2009-Dow, S&P futures up; RIM pressures Nasdaq ------------------------------------------------------------------------------
 Dow and S&P index futures pointed to a higher open on Friday, lifted by a weaker U.S. dollar and strength in commodities, while the Nasdaq was pressured by a weak outlook from Research in Motion Ltd RIMM.O.
 For details, see [ID:nN19433676]
 Dow Jones industrial average futures DJc1 rose 52 points, while S&P 500 futures SPc1 gained 8 points, but Nasdaq 100 futures NDc1 were down 4 points.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0743 ET 19June2009-Sony CEO: restructuring on track ------------------------------------------------------------------------------
 Howard Stringer, chief executive of Sony Corp (SNE.N)(6758.T), said the company’s turnaround efforts were advancing well.
 The restructuring steps include job cuts, plant closures and a management reshuffle.
 “We are seeing steady progress and are working to reduce costs throughout the Sony group by more than 300 billion yen ($3 billion),” Stringer told the company’s annual shareholders’ meeting on Friday.
 For details, see [ID:nT102905]
 U.S.-listed shares closed Thursday at $25.98.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0738 ET 19June2009-Microsoft added to Goldman’s ‘conviction buy’ list ------------------------------------------------------------------------------
 Goldman Sachs added Microsoft Corp (MSFT.O) to its Americas ‘conviction buy’ list on Friday, saying better revenue drivers, expense management, and sizable cash balances provide more opportunities for bottom-line beats.
 “Looking out to calendar year 2010 and beyond, the new product pipeline, combined with a modest rebound in information technology spending, should buoy top-line growth,” the firm wrote in a note to clients.
 For details, see [ID:nBNG86897]
 Shares of the Dow component rose 2.2 percent to $24.02 in premarket trading.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0724 ET 19June2009-Blackberry maker RIM down in premarket on outlook ------------------------------------------------------------------------------
 Shares of BlackBerry maker Research in Motion Ltd RIMM.ORIM.TO fell in premarket trading on Friday, a day after it gave an outlook that fell short of some expectations.
 Also on Thursday night, the company reported first-quarter earnings that beat expectations.
 For details, see [ID:nN18406026]
 Shares fell 1 percent to $75.80 on Nasdaq.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 

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