STOCKS NEWS US-PG&E shuts down California Diablo 2 reactor

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0915 ET 01July2009-PG&E shuts down California Diablo 2 reactor
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PG&E Corp (PCG.N) shut the 1,118-megawatt Unit 2 at the Diablo Canyon
nuclear power station in California from full power on June 30 due to the loss
of forced cooling to the main transformer bank, the company told the U.S.
Nuclear Regulatory Commission in a report.

The company said it was investigating the event.

Unit 1 continued to operate at full power.

For details, see [ID:nN01493892]

Shares of PG&E closed Tuesday at $38.44.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0910 ET 01July2009-Ingersoll-Rand reincorporates in Ireland
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Diversified U.S. manufacturer Ingersoll-Rand Plc (IR.N) said on Wednesday
it had reincorporated in Ireland, a move that will allow it to take advantage
of that nation's European Union membership and tax treaties.

The move, approved last month by shareholders, will make the maker of
climate control systems ineligible for inclusion in the Standard & Poor's 500
index .SPX.

For details, see [ID:nN01494424]

Shares rose 1.2 percent to $21.15 in premarket trading on light volume.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0900 ET 01July2009-Microsoft's Bing gains market share in 1st month
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Microsoft Corp's (MSFT.O) new Bing search engine gained U.S. market share
in its first month in operation but still trails dominant rival Google Inc
(GOOG.O), according to data released on Wednesday.

Bing, launched on June 3 but available to some users a few days earlier,
took 8.23 percent of U.S. Web searches in June, up from 7.81 percent for
Microsoft search just prior to its rollout and 7.21 percent in April, said
Internet data firm StatCounter.

Google lost share slightly, dipping to 78.48 percent from 78.72 percent
before Bing. Yahoo Inc (YHOO.O), the perennial No. 2 in the market, rose to
11.04 percent from 10.99 percent.

For details, see [ID:nL1665657]

Shares of Microsoft, a Dow component edged 0.7 percent higher to $23.94 in
premarket trading while Google was up 0.3 percent to $422.80.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0841 ET 01July2009-Goldman Sachs upgrades Yum Brands
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Goldman Sachs on Wednesday upgraded Yum Brands (YUM.N) to "buy" from
"neutral," seeing a more positive view on the prospects for profit growth at
the company's international businesses.

"Our upgrade reflects a longer-term view of a secular story that we think
investors should be behind, not because of the next quarter, but because of the
next couple of years," the firm wrote to clients.

For details, see [ID:nBNG20864]

Shares of the company, which operates the Taco Bell and KFC fast food
chains, rose 3.8 percent in premarket trade at $34.60.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0837 ET 01July2009-CombinatoRx signs merger deal with Neuromed
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CombinatoRx (CRXX.O) on Wednesday signed a merger agreement with Neuromed,
and expects to issue approximately 36 million new shares of its common stock to
Neuromed stockholders.

The company also said that upon closing, each party will own about 50
percent of the voting power of the new organization.

For details, see [ID:nWNAB3609]

Shares gained 10 percent to 88 cents in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0833 ET 01July2009-Repros to stop using 50 mg dose in study
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Repros Therapeutics Inc (RPRX.O) said it would discontinue the use of the
higher 50 mg dose in its ongoing studies to treat uterine fibroids and
associated anemia, after a few patients discontinued the treatment due to
adverse events.

Repros said it would discontinue the use of the higher dosage after it
found dose-dependent increase in liver enzymes -- a marker for toxicity -- in a
low percentage of women.

For details, see [ID:nBNG71565]

Shares sank 11 percent to $6.40 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net