Encysive, KeyCorp, Lyondell, Novellus, Pogo, STEC: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 10:15 a.m. New York time.

American Express Co. (AXP US) rose $2.38, or 3.9 percent, to
$64.26. The No. 4 U.S. credit-card issuer was upgraded to ``buy''
from ``neutral'' at Goldman, Sachs & Co., which said its card-
network business was ``undervalued'' compared with its rivals.


Read more at Bloomberg Stocks News

UPDATE 1-Plains to buy Pogo for $3.6 billion

(Reuters) - When announced, the deal valued Pogo at about $60 per
share, a premium of 19 percent over its closing stock price on
Monday. But Plains shares fell in early trading, lowering the
value of the deal to around $58.24 per Pogo share.




The combined company will have proved reserves of 635
million barrels of oil equivalent, and total estimated reserve
potential -- which includes probable and possible reserves --
of 1.4 billion barrels of oil equivalent.


Read more at Reuters.com Bonds News

Gold, Silver Futures May Rise in New York on Speculation Dollar to Weaken

(Bloomberg) -- Gold and silver, little changed in
New York, may rise on speculation a decline in the value of the
dollar will boost demand for the precious metals as alternative
investments.

Gold generally moves in the opposite direction of the
dollar, which was little changed against the euro today after
falling to a record last week. Gold and the euro both have
gained 4.4 percent this year.


Read more at Bloomberg Commodities News

Uganda says investments almost triple in 2006/07

(Reuters) - Uganda said on Tuesday direct foreign and local investments almost tripled to $2.18 billion during the 2006/07 fiscal year partly due to growth in the hospitality sector ahead of a Commonwealth summit this year.

The east African country received $758 million in investments over the same period in the previous year.


Read more at Reuters Africa

WTO chairmen propose compromises to save Doha round

(Reuters) - Mediators of the World Trade Organisation's (WTO) troubled farming and industrial goods talks on Tuesday proposed compromise texts meant to save the Doha free trade accord.

Don Stephenson, Canada's ambassador to the WTO and mediator of the industrial goods talks, said countries needed to "search for balance" between their competing interests in the nearly six-year-old negotiations to secure an agreement.


Read more at Reuters Africa

Abyara, BR Malls, Porto Seguro, Petroleo Brasileiro: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index rose for the
fourth time in five days, led by state-controlled oil company
Petroleo Brasileiro SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 272.66, or 0.5 percent, to 57,647.06 as of 9:42 a.m.
New York time.


Read more at Bloomberg Stocks News

UPDATE 1-U.S. overall producer prices fall in June, core up

(Reuters) - WASHINGTON, July 17 - Cheaper energy helped
reduce overall U.S. producer prices in June, according to a
Labor Department report on Tuesday, but a closely watched
measure of core inflation kept rising at a pace likely to keep
concerns about inflation on policy-makers' minds.




The producer price index -- a gauge of prices paid at the
farm gate and factory door -- declined by 0.2 percent last
month after shooting up by 0.9 percent in May, the first
decline since January.


Read more at Reuters.com Economic News

UPDATE 1-Jefferies second quarter profit rises

(Reuters) - Profit rose to $67.8 million, or 45 cents a share, from
$45.6 million, or 32 cents a share, a year earlier.




Analysts on average expected 39 cents a share, according to
Reuters Estimates.


Read more at Reuters.com Market News

First Indiana says to delay Q2 results

(Reuters) - On July 9, Marshall & Ilsley, Wisconsin's largest bank,
agreed to buy First Indiana for about $529 million, or $32 a
share in cash.





Read more at Reuters.com Market News

Cleveland BioLabs submits added info on Protectan compounds

(Reuters) - Cleveland BioLabs also submitted its Protectan CBLB612 to
the National Institute of Allergy and Infectious Diseases, it
added.





Read more at Reuters.com Government Filings News

Wells Fargo 2nd-qtr profit rises

(Reuters) - Analysts on average forecast profit of 67 cents per share on revenue of $9.63 billion, according to Reuters Estimates.




John Stumpf, who replaced Richard Kovacevich as chief executive last month, said Wells Fargo won more business from existing customers, offsetting "industry headwinds of a weaker housing market, a flat yield curve and slower deposit growth."


Read more at Reuters.com Business News

DealTalk: Italy scrambles to save Alitalia auction

(Reuters) - Less than a week before final offers are due, Italy's centre-left government can ill afford failure as it pursues fragile talks with unions on pension reforms, analysts say.




Prime Minister Romano Prodi's government, whose popularity has slipped a year after coming to power, has already pushed back the deadline twice for final offers.


Read more at Reuters.com Business News

US net capital inflows rise to $105.9 bln in May

(Reuters) - Net long-term capital inflows totaled $126.1 billion in May
from a revised $80.3 billion the previous month.




Read more at Reuters.com Bonds News

UPDATE 1-US May net long-term capital inflows hit record

(Reuters) - May's net overall capital inflow amply covered the U.S.
trade deficit for the month, which was $60 billion.




In April, overall capital inflows were $97.8 billion.


Read more at Reuters.com Bonds News

Corporate Bond Risk Rises in Europe, U.S. After Subprime Index Selloff

(Bloomberg) -- The risk of owning U.S. and European
corporate bonds rose today after indexes of securities linked to
U.S. subprime mortgages slumped to a record low, according to
traders of credit-default swaps.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Index of 50 European companies
jumped 18,500 euros to 286,000 euros at 1:52 p.m. in London,
according to JPMorgan Chase & Co. The CDX North America
Investment-Grade Index of 125 companies rose $1,750 to an offered
price of $45,750 at 8:50 a.m. in New York, Deutsche Bank AG
prices show. An increase in the indexes suggests deterioration in
the perception of credit quality.


Read more at Bloomberg Bonds News

Angola to Load 53 Crude Oil Cargoes in September, Unchanged From August

(Bloomberg) -- Angola, sub-Saharan Africa's second-
biggest petroleum producer, will load 53 crude-oil cargoes in
September, the same number as August.

Tankers will haul shipments ranging from 950,000 barrels to 1
million barrels for companies including Sonangol SA, the state oil
company, and foreign producers such as Total SA, Chevron Corp.,
Exxon Mobil Corp., Eni SpA, BP Plc, Statoil ASA and INA Industrija
Nafta DD, according to a copy of the loading program for the month.


Read more at Bloomberg Energy News

Lumera forms new bioscience subsidiary

(Reuters) - Lumera said it has engaged Robert W. Baird & Co. Inc. to
assist it in evaluating partnering and financing alternatives
over the coming months.





Read more at Reuters.com Mergers News

Dollar Advances Versus Yen as Foreigners Buy Record Amount of U.S. Assets

(Bloomberg) -- The dollar extended an advance
against the yen and pared a drop versus the euro after a
government report showed foreigners added a record amount of
U.S. securities in May.

The U.S. currency climbed to 122.15 yen at 9:02 a.m. in New
York, from 121.89 yen late yesterday. The dollar traded at
$1.3781 per euro from $1.3772 yesterday. On July 13, the dollar
dropped to a record low of $1.3814 per euro.


Read more at Bloomberg Currencies News

Texas Agency to Borrow $1.9 Billion for a 20-Year Supply of Natural Gas

(Bloomberg) -- Texas Municipal Gas Acquisition &
Supply Corp. II will borrow $1.9 billion to finance a 20-year
supply of natural gas for municipal utilities in today's largest
U.S. offering of tax-exempt bonds.

The Houston-based special-purpose borrower will sell
floating-rate debt in a deal managed by JPMorgan Chase & Co.
South Carolina's Lexington Medical Center, the State University
of New York and two Boston-area colleges also plan to offer
almost $700 million of bonds as soon as today.


Read more at Bloomberg Bonds News

BEA Systems May be Takeover Prey for Oracle, Private Equity: Credit Suisse

(Bloomberg) -- BEA Systems Inc. ``is in play'' as a
potential acquisition target and may receive an offer of $15 to
$18 a share in the next three to six months from software maker
Oracle Corp. or a private equity firm, Credit Suisse Group said.

Analyst Jason Maynard upgraded the maker of software that
helps Internet-based programs exchange information to
``outperform'' from ``neutral'' and increased the price he
expects the shares to reach to $17 from $14.


Read more at Bloomberg Stocks News

Wells Fargo 2nd-qtr earnings jump

(Reuters) - Analysts on average forecast profit of 67 cents per share on revenue of $9.63 billion, according to Reuters Estimates.




John Stumpf, who replaced Richard Kovacevich as chief executive last month, said Wells Fargo won more business from existing customers, helping to offset "the industry headwinds of a weaker housing market, a flat yield curve and slower deposit growth."


Read more at Reuters.com Bonds News

UPDATE 1-U.S. Bancorp 2nd-quarter profit falls 4 percent

(Reuters) - Net income for the Minneapolis-based company fell to $1.16
billion, or 65 cents per share, from $1.2 billion, or 66 cents,
a year earlier. Revenue rose 1.5 percent to $3.51 billion.




Analysts on average forecast a profit of 67 cents per share
on revenue of $3.48 billion, according to Reuters Estimates.


Read more at Reuters.com Bonds News

Crude Oil Reaches 11-Month High; OPEC May Maintain Cuts, U.S. Supply Fall

(Bloomberg) -- Crude oil rose to an 11-month high in
New York on higher demand after OPEC ministers said the group
should maintain its restrictions on production.

The Organization of Petroleum Exporting Countries yesterday
raised a forecast for demand for its crude by 100,000 barrels to
31.1 million barrels a day in the fourth quarter. The U.S. Energy
Department will probably report tomorrow that crude-oil supplies
fell 700,000 barrels in the week to July 13, according to analysts
surveyed by Bloomberg News.


Read more at Bloomberg Commodities News

Cenveo to buy envelop-maker Commercial Envelope

(Reuters) - Cenveo said the acquisition of Commercial Envelope with
revenue of $160 million was expected to add to its earnings.





Read more at Reuters.com Mergers News

FACTBOX-Bond, share sales delayed by volatile markets =2

(Reuters) - The privately held snowmobile and sports boat manufacturer
postponed a $1.12 billion term loan, sources told Reuters Loan
Pricing Corp. [ID:nN29421190]




ORECK CORP.


Read more at Reuters.com Mergers News

Shoprite Holdings Full-Year Sales Rise 16 Percent on Consumer Spending

(Bloomberg) -- Shoprite Holdings Ltd., South Africa's
second-largest grocer, said annual sales gained 16 percent after
faster economic growth boosted consumer spending.

Sales in the 12 months through June 30 reached 38.9 billion
rand ($5.6 billion), compared with the year earlier, Cape Town-
based Shoprite said in a stock exchange statement today. Revenue at
the main Shoprite brand increased 14 percent while the Checkers
chain advanced 15 percent, the company said.


Read more at Bloomberg Emerging Markets News

Gold clearing statistics rise in June - LBMA

(Reuters) - Gold ounces transferred rose 11.8 percent to a daily average of 21.8 million ounces in June, compared with the previous month, the London Bullion Market Association (LBMA) said on Tuesday.

Based on an average fixing of $655.49 an ounce -- $11.37 lower than in May -- value increased to a daily average of $14.3 billion from $13.0 billion the previous month.


Read more at Reuters Africa

Coca-Cola reports profit rise

(Reuters) - The results included 5 cents per share in restructuring charges and a noncash impairment charge at an equity investee.




Net operating revenue rose to $7.73 billion from $6.48 billion.


Read more at Reuters.com Market News

Merrill Lynch earnings surge 31 percent

(Reuters) - The world's largest brokerage said net earnings were $2.1 billion, or $2.24 a diluted share, compared to $1.6 billion, or $1.63, in the year-earlier period.




Analysts, on average, looked for Merrill Lynch to earn $2.02 a share, according to Reuters Estimates.


Read more at Reuters.com Market News

US futures hint at Wall St fall, inflation data due

(Reuters) - Earnings season is getting into full swing, with several
major blue chips due to report on Tuesday, including top
chipmaker Intel Corp , Merrill Lynch and Yahoo
Inc. .




Economic data include wholesale inflation for June, which
may give a taste of Wednesday's report on consumer inflation
that is usually more influential in reinforcing the market's
expectations on the course of U.S. monetary policy.


Read more at Reuters.com Bonds News

Basell to buy Lyondell for $12 billion

(Reuters) - Basell, which is owned by U.S. industrialist Len Blavatnik's Access Industries, will pay Lyondell stockholders $48 per common share. That's a 19.6 percent premium to Monday's closing price of $40.12.




The all-cash deal, valued at $12.14 billion, is based on Lyondell's shares outstanding as of March 31.


Read more at Reuters.com Bonds News

UPDATE 1- LKQ to buy Keystone Automotive for $811 mln

(Reuters) - The purchase price represents a 10 percent premium to
Keystone's Monday close of $43.61 on the Nasdaq.




The merger is currently expected to close early in the
fourth quarter, and would add to earnings in 2008, LKQ said in
a statement.


Read more at Reuters.com Mergers News

S.Africa maize nudges up on fresh crop worries

(Reuters) - South Africa's benchmark maize contracts slipped on Tuesday in line with the U.S. market, but fresh worries about the local crop helped prices recover.

July white maize closed three rand lower at 1,675 rand a tonne, after falling to an intraday low of 1,645 rand. December white skidded to 1,714 before closing flat at 1,748 rand.


Read more at Reuters Africa

Gold slips ahead of US Federal Reserve minutes

(Reuters) - Gold erased overnight gains to slip on Tuesday, with dealers avoiding big moves ahead of testimony by U.S. Federal Reserve Chairman Ben Bernanke later in the week.

The metal has struggled to breach key technical levels after hitting a five-week high last week, but might get support from firm oil prices and the dollar, which stayed near record lows against the euro.


Read more at Reuters Africa

Nike says committed to grow in Indonesia

(Reuters) - Several thousand angry Indonesian workers staged a noisy protest outside Nike's office in Jakarta on Monday, urging the firm to rethink its plans to end the contracts or pay severance money.




Indonesia produced around a fifth of Nike's shoes in 2006.


Read more at Reuters.com Business News

UPDATE 1-Barclays 'confident' of winning ABN bid battle

(Reuters) - Seegers declined to comment on a revised bid from a consortium led by Royal Bank of Scotland announced on Monday, which includes more cash.




Earlier on Tuesday, the Financial Times said that Barclays is planning to sweeten its offer for ABN after the consortium of RBS, Spain's Santander and Belgian-Dutch group Fortis raised the cash portion of its bid to 93 percent from 79 percent, valuing ABN at 71.1 billion euros.


Read more at Reuters.com Market News

Osaka Bourse to Next Month List Japan's First Gold Exchange-Traded Fund

(Bloomberg) -- The Osaka Securities Exchange will
list Japan's first exchange-traded gold fund next month, as it
taps increasing interest in commodities from investors
diversifying portfolios.

The fund will be managed by Nomura Holdings Inc. and list on
Aug. 10, the Tokyo-based company and the bourse, operated by
Osaka Securities Exchange Co., said in a statement today.


Read more at Bloomberg Commodities News

Persian Gulf Crude-Oil Tanker Rates May Extend Drop, Fueling Owner Losses

(Bloomberg) -- The cost of transporting Middle
East crude oil to Asia, down 15 percent in the past month, may
extend declines, forcing shipowners to keep leasing out
supertankers at a loss.

There are enough ships available in the Persian Gulf in the
first two weeks of August to handle about three-quarters of
potential cargoes, Paris-based shipbrokers Barry Rogliano Salles
said in an e-mailed report yesterday. There are 96 ships free
until Aug. 16, compared with 124 cargoes scheduled for
collection this month.


Read more at Bloomberg Energy News

Basell to buy Lyondell for $48 a share

(Reuters) - Lyondell shares closed on Monday at $40.12.




Read more at Reuters.com Bonds News

BNP Paribas to buy 33.4 pct in Natixis SLIB unit

(Reuters) - The financial terms of the deal were not disclosed.




Read more at Reuters.com Mergers News

SSAB Q2 profit below consensus

(Reuters) - The firm said that deliveries of quenched steels were
negatively affected by the ongoing investment projects and by
minor disruptions in production in the second quarter, although
deliveries rose 3 percent year-on-year.




Sales in the second quarter were 9.1 billion crowns against
a forecast 8.97 billion crowns.


Read more at Reuters.com Market News

Prime Minister Abe Rebukes Tokyo Electric Over Nuclear Leaks After Quake

(Bloomberg) -- Japan's Prime Minister Shinzo Abe
criticized Tokyo Electric Power Co. for being slow to disclose
radioactive leaks after an earthquake shut down its Kashiwazaki-
Kariwa nuclear power station, the world's biggest.

A magnitude 6.8 earthquake struck Niigata prefecture in
central Japan yesterday, killing nine people, causing
contaminated water to escape into the sea and radioactive
material to leak from a ventilation system. Tokyo Electric was
ordered to keep the facility closed pending safety checks. Its
shares dropped to a seven-month low.


Read more at Bloomberg Energy News

Sanofi Diet-Pill Debacle Reveals Management Missteps With U.S. Regulators

(Bloomberg) -- Sanofi-Aventis SA, whose weight-loss
pill was rejected by U.S. regulators last month, may have
mismanaged the drug's development by promising too much and
failing to heed safety concerns in patient studies.

The company didn't follow up on thousands of patients who
dropped out of clinical tests for Zimulti, the obesity treatment,
studies of the drug show. That left Sanofi unable to answer U.S.
regulators' questions about side effects, according to documents
the Food and Drug Administration released in June. Two weeks
before the FDA review, Chairman Jean-Francois Dehecq told
Sanofi's annual meeting he expected a ``positive outcome.''


Read more at Bloomberg Exclusive News

Lend Lease May be Target of a Leveraged Buyout, Credit Defaults Swaps Show

(Bloomberg) -- Lend Lease Corp., Australia's biggest
property developer, may be the target of a leveraged buyout,
according to traders betting on the creditworthiness of companies.

Speculation that private equity firms are poised to bid has
increased the risk of holding Lend Lease debt to the highest
since August 2005. Credit-default swaps are financial instruments
based on corporate bonds and loans used to speculate on a
company's ability to repay debt.


Read more at Bloomberg Bonds News

Hong Kong's Hang Seng Index Gains; Cnooc, PetroChina Gain, Sinopec Falls

(Bloomberg) -- Hong Kong stocks rose for the third
time in four days. Cnooc Ltd. climbed after Deutsche Bank AG
boosted share-price estimates for oil producers and crude traded
near an 11-month high.

``As oil prices continue to increase, it's natural to see
more upgrades of oil companies and gains among oil companies in
the Hong Kong stock market,'' said Anthony Muh, who oversees
about $1 billion at Alliance Trust Plc in Hong Kong.


Read more at Bloomberg Stocks News

UPDATE 1-Hoganas Q2 just shy of consensus, keeps outlook

(Reuters) - The firm, whose products are used in the auto industry,
posted pretax earnings of 160 million Swedish crowns versus a year-ago 107 million and a mean forecast of
166 million seen in a Reuters survey of 6 analysts.




Hoganas said sales rose to 1.52 billion crowns from 1.31
billion a year ago, above the 1.43 billion seen by analysts.


Read more at Reuters.com Market News

Electrolux U.S. strength lifts shares

(Reuters) - Second quarterly core earnings grew in line with market expectations as product delays in Europe were outweighed by U.S. strength. A slowing U.S. market had been a key point of concern ahead of the report.




"This was more positive than expected, mainly in North America, which turned out to be a very positive point, while Europe came in much worse," Danske Equities analyst Michael Andersson said after the results announcement on Tuesday.


Read more at Reuters.com Business News

U.K. FTSE 100 Benchmark Declines, Paced by BHP; Rolls-Royce, Kelda Slip

(Bloomberg) -- U.K. stocks fell for a second day,
paced by BHP Billiton Ltd. after Deutsche Bank AG downgraded the
shares and metal prices retreated. Anglo American Plc and
Antofagasta Plc also declined.

Rolls-Royce Group Plc, Kelda Group Plc and Schroders Plc
slid as brokerages lowered their recommendations for the
companies' stocks. Reed Elsevier Plc dropped after it agreed to
sell Harcourt Education for $4 billion.


Read more at Bloomberg Stocks News

U.K. Natural Gas Falls From 7-Month High as Supply Adequately Meets Demand

(Bloomberg) -- U.K. natural gas for delivery a day
ahead retreated from yesterday's seven-month high as supply
adequately met demand even after halts at two sub-terminals for
North Sea gas on the east coast of England.

Day-ahead gas fell as much as 5.2 percent to 32.9 pence a
therm, according to prices on Bloomberg from broker ICAP Plc. It
traded at 33 pence a therm at 8:19 a.m. A price of 33 pence a
therm is equivalent to $6.73 a million British thermal units. A
therm is 100,000 Btus.


Read more at Bloomberg Energy News

Lundin says wins Rio Narcea Gold bid

(Reuters) - "All of the conditions of the offer having now been
satisfied, Lundin .... has taken up all of the Rio Narcea shares
and warrants that were tendered to the offer," the company said
in a statement.




The offer was dependent on Lundin getting acceptances for
not less than 66.6 percent of Rio's shares.


Read more at Reuters.com Mergers News