June 19, 2009 / 12:24 PM / 8 years ago

STOCKS NEWS US-Oil rises on optimism, Iran, Nigeria concerns

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 For U.S. stock market report double-click [.N] 0815 ET 19June2009-Oil rises on economy, concerns over Iran, Nigeria ------------------------------------------------------------------------------
 July crude futures rose on Friday, advancing for the third day in a row as investors hoped the economy may be stabilizing. The commodity was also was lifted on geopolitical concerns over key oil producers Iran and Nigeria.
 "We will see support continue to come from Iran and Nigeria. There is no immediate supply threat from Iran, but in Nigeria (there) is an actual physical disruption," oil analyst Olivier Jakob of Petromatrix said.
 For details, see [ID:nSIN282931]
 The contract rose 1.1 percent to $72.12 per barrel.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 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 

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