STOCKS NEWS US-Goldman removes Gap from Americas Buy List

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1044 ET 05June2009-Goldman removes Gap from Americas Buy List
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Goldman Sachs on Friday cut Gap Inc (GPS.N) from its
Americas Buy List, noting that the stock had nearly reached its
$18 price target and that consensus estimates on the apparel
company had risen 16 percent since March.

"We prefer to step to the sidelines until we see greater
probability of upside from improving execution at Gap or Banana
Republic," the firm wrote. "To date, the Gap brand has not seen
the kind of traffic or unit volume lift we anticipated from
promotional events."

Shares of Gap sank 2.1 percent to $16.59.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1038 ET 05June2009-American Woodmark gains after surprise Q4
profit
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Shares of American Woodmark Corp (AMWD.O) rallied on Friday
after it reported an adjusted quarterly profit that beat
expectations, lifted by lower fuel and wage-related costs.

For details, see [ID:nBNG88876]

The stock surged 19 percent to $23.33.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1023 ET 05June2009-Citi downgrades four semiconductor equipment
companies
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Citi on Friday downgraded a number of semiconductor
equipment companies to hold from buy, saying the cyclical call
on the sector was playing out.

"The supply correction that has uniquely benefited semi
equipment stocks as an early cyclical is now getting into later
innings, with supply now approximately tracking end demand in
the second quarter based on our work," the firm wrote. "While
inventory restocking should drive further improvements in chip
factory utilization through at least the third quarter and
likely into the fourth quarter, we now feel we are within six
months of what is apt to be some moderation in utilization
levels."

Teradyne Inc (TER.N), LAM Research (LRCX.O), Applied
Material (AMAT.O) and ATMI Inc (ATMI.O) were all downgraded by
Citi.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1019 ET 05June2009-Romer: unemployment rate to stay high
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White House economic advisor Christina Romer on Friday said
that June payrolls data was consistent with a trend of
moderating job losses, but the unemployment rate would stay
high for a while.

"Even as we see things start to stabilize and hopefully,
grow again, we do know that unemployment tends to lag, and so
that the unemployment rate is going to be high and probably
stay high for a while precisely because that is sort of the
normal pattern as we come out of recession," Romer told
Bloomberg Television.

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