STOCKS NEWS US-Automakers may post best sales of '09 in June

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1058 ET 01July2009-Automakers may post best sales of '09 in June
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Major automakers are expected to report the highest sales rate of 2009 when
they post results for June, as deep discounts limit industrywide results to a
30 percent decline.

For the U.S. auto industry, where sales have been slumping for four years,
that would constitute good news and support the view sales are near bottom
after a punishing decline to nearly 30-year lows, analysts and executives
said.

All of the largest automakers are expected to post deep U.S. light vehicle
sales declines for June to round out what has been the weakest market since the
early 1980s.

"We continue to believe that U.S. auto sales have bottomed this cycle and
are heartened by seemingly strengthening retail sales even ahead of any impact
from 'cash for clunkers' ... " J.P. Morgan analyst Himanshu Patel said in a
note to clients.

For details, see [ID:nN30434120]

Shares of Ford Motor Co (F.N) rose 0.8 percent to $6.12 on Wednesday while
the Dow Jones U.S. Automobile index .DJUSAU rose 1 percent to 69.87.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by
Kenneth Barry
1053 ET 01July2009-General Mills results lift stock, Kellogg
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Shares of General Mills (GIS.N) rallied on Wednesday, after the company
reported fourth-quarter earnings that beat expectations and gave an outlook
that was above consensus.

For details, see [ID:nBNG512328]

The stock gained 3 percent to $57.69 while peer company Kellogg (K.N) was
up 2.4 percent to $47.70.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1042 ET 01July2009-Lindsay Corp jumps after earnings
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Lindsay Corp (LNN.N) shares jumped on Wednesday after the company reported
a third-quarter profit that topped Wall Street estimates.

The irrigation equipment maker posted third-quarter earnings of 42 cents
per share, above the average estimate of analysts surveyed by Thomson Reuters
of 25 cents per share.

Shares jumped 10.4 percent to $36.54 while fellow irrigation equipment
maker Valmont Industries Inc (VMI.N) added 3.3 percent to $74.43.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1027 ET 01July2009-Construction spending down 0.9 pct in May
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U.S. construction spending fell 0.9 percent in May to the lowest rate in
more than five years, with the economic stimulus plan passed in February
providing little relief in public construction, according to Commerce
Department data released on Wednesday.

The drop was more than expected, with economists polled by Reuters
forecasting a fall of only 0.5 percent. April's spending was revised downward
to an increase of 0.6 percent from March, compared to the 0.8 percent increase
originally reported.

For details, see [ID:nN30459920]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1022 ET 01July2009-Pending home sales up 0.1 pct in May
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Pending sales of previously owned U.S. homes rose slightly in May, the
fourth straight monthly gain, a real estate trade group said on Wednesday.

The National Association of Realtors said its Pending Home Sales Index,
based on contracts signed in May, was up 0.1 percent to 90.7 from a upwardly
revised index of 90.6 in April. The index for April had previously been
reported as 90.3. Economists polled by Reuters ahead of the report were
expecting pending home sales to remain unchanged.

Following the release of the data, the Dow Jones U.S. Home Construction
index .DJUSHB rose 0.8 percent to 216.48.

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