UPDATE 2-NORDIC STOCKS - Factors to watch on May 16

Thu May 16, 2013 2:20am EDT

(Adds Subsea 7, TGS and Marine Harvest)

HELSINKI May 16 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

SUBSEA 7

Offshore engineering group Subsea 7 reported first-quarter earnings in line with expectations and warned that it was facing a series of challenges from delayed project awards to lower pricing.

Oslo-listed Subsea 7 said its first-quarter earnings before interest, taxes, depreciation and amortisation rose 7 percent to $241 million, in line with expectations for $241 million.

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TGS

Seismic surveyor TGS is facing an increased tax bill after resolving a dispute with the Norwegian tax authorities, the firm said.

The resolution implies an increased taxable income of around 1.27 billion Norwegian crowns ($216.9 million) for the period up to and including 2010, and the related tax payments would amount to around 355 million crowns.

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MARINE HARVEST

Fish farmer Marine Harvest may consider raising its proposed $1.7 billion bid for rival Cermaq if the company would only give up its own attempt to take over fish feed firm Copeinca, its chairman told daily Dagens Naeringsliv.

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ELECTROLUX

Deliveries of the six main white goods categories in the United States (AHAM 6) rose 9.2 percent year-on-year in April, figures from the Association of Home Appliances Manufacturers showed late on Wednesday. Shipments are up in 6.5 percent over the first four months of the year.

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TELE2

Cristina Stenbeck, chairwoman of top Tele2 owner Kinnevik , in an interview with Dagens Industri chimed in with comments by Tele2 rival 3's top executive Peder Ramel this week that Sweden's telecom market would benefit from consolidation.

"Peder used to work for us, so I'm sure he knows to who to turn to at our end if he wants to discuss any of his ideas," she was quoted as saying by the business daily, though she added: "Tele2 can manage well on its own even if there is not any major change in the market."

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LUNDBECK

The pharmaceutical company aims to triple its turnover in Russia to half a million Danish crowns in the coming years, business daily Borsen reported. The company will primarily try to achieve the target through the sale of its alcohol treatment Selincro, Borsen said.

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ALGETA

German drugmaker Bayer and its development partner Algeta won approval from U.S. regulators for a prostate cancer drug that could eventually generate more than 1 billion euros ($1.3 billion) in annual sales.

The U.S. Food and Drug Administration, which has reviewed Xofigo under its priority programme, said on Wednesday the injection is cleared for treatment of bone metastases in men whose cancer has spread after receiving medical or surgical therapy to lower testosterone.

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(Additional reporting by Copenhagen, Oslo and Stockholm newsrooms) ($1 = 0.7775 euros) ($1 = 5.8542 Norwegian krones) (Reporting by Helsinki Newsroom)