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

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

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0815 ET 19June2009-Oil rises on economy, concerns over Iran, Nigeria
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 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
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  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
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 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
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 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
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 Howard Stringer, chief executive of Sony Corp SNE.N6758.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
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 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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