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1208 ET 01July2009-US may lose 1 mln more jobs in
2009-Macro.Advisors
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The United States may be in for another 800,000 to 1
million job losses this year and won't see a resumption of
employment growth until 2010, Joel Prakken, chairman of
Macroeconomic Advisors, said on Wednesday.

Prakken, whose firm jointly developed the ADP Employer
Services report on private sector jobs, said economic growth
will resume at a modest pace in the second half of the year,
coming in the 2-2.5 percent range after another fall in output
during the second quarter.

Earlier on Wednesday, ADP released a report saying U.S.
private employers cut 473,000 jobs in June, more than the
393,000 expected in a Reuters poll but down from the 485,000
private sector jobs lost in May.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1156 ET 01July2009 Credit Suisse recommends PepsiCo call
spread
------------------------------------------------------------------------------ A call spread in PepsiCo Inc (PEP.N) is
attractive to capture upside exposure in the company and
benefits from the flat skew and lower implied volatility, said
Credit Suisse equity derivatives strategist Sveinn Palsson in a
note. He recommends a January 2010 PEP $60-$65 call spread for
$1.10, using a reference price of $54.91. "The dominant
discussion surrounding PepsiCo remains the premium it should
offer to buy its bottlers, where the achievable synergies
remains the main debate," the note said. "PepsiCo estimates
$200 million in synergies nearly four times less than what its
largest bottler, Pepsi Bottling (PBG.N) estimates." But Credit
Suisse beverage analyst Carlos Laboy believes this overshadows
the main point, as even PepsiCo's conservative synergy
estimates can lead to a significant rise in its share price.
Even if a deal does not materialize, Laboy sees limited
downside, since PEP trades at a discount to the market,
including a 7 percent discount to rival, Coca Cola. Palsson
said.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1144 ET 01July2009-Oracle shares rise after Caris starts
coverage
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Shares of Oracle Corp (ORCL.O) rose on Wednesday, after
Caris & Co started coverage on the software company with an
"above average" rating.

The firm wrote that Oracle was well positioned to benefit
from any recovery in global IT spending and can elevate its
market position with the purchase of Sun Microsystems Inc
(JAVA.O).

For details, see [ID:nBNG490467]

Shares rose 2.1 percent to $21.87.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1134 ET 01July2009-Synnex climbs on earnings, outlook
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Synnex Corp (SNX.N) shares rose on Wednesday after the
company reported second-quarter results and forecast
third-quarter results above Wall Street estimates.
[ID:nBNG507931]

The technology distributor reported net income of 57 cents
a share, aided by a 20 percent gain in its global business
services revenue, topping the average estimate of analysts
surveyed by Thomson Reuters of 48 cents per share.

For the third-quarter, the company sees earnings of 58
cents to 61 cents a share on revenue of $1.8 to $1.9 billion
versus Wall Street expectations of 50 cents per share and $1.75
billion in revenue.

Synnex shares jumped 10 percent to $27.50. Rivals Ingram
Micro (IM.N) added 2.7 percent to $17.97 and Tech Data (TECD.O)
gained 2.4 percent to $33.49.

Reuters
Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1120 ET 01July2009-ISM's Ore: growth in manufacturing 3 months
away
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The U.S. manufacturing sector is improving but it will
probably take another three months to get it back into growth
territory, Norbert Ore, chairman of the Institute for Supply
Management's manufacturing business survey committee, said on
Wednesday.

Ore also told a teleconference of journalists that
deflationary pressures in the manufacturing sector appeared to
be abating, though the rise in oil prices had helped to stop
the decline in companies' pricing power.

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