STOCKS NEWS US-MarkWest sinks after offering priced at discount

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1136 ET 05June2009-MarkWest sinks after offering priced at discount
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Shares of oil and gas processor MarkWest Energy Partners (MWE.N) fell on
Friday, after the company's public offering of 2.9 million common units was
priced at $18.15 per unit, a discount of 9 percent to the stock's closing price
on Thursday.

The company said it expects net proceeds from the offering of about $50.3
million, which will be used to fund its capital budget and repay debt.

For details, see [ID:nBNG451254]

Shares fell 7.8 percent to $18.39.
1107 ET 05June2009-Wal-Mart approves $15 bln buyback program
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The board of directors at Wal-Mart Stores (WMT.N) on Friday approved a $15
billion stock buyback program, which will replaced a previous one of the same
size.

The previous program had about $3.4 billion remaining in it, the company
said.

The retailer also raised its full-year dividend by 15 percent, lifting it
to $1.09 per share.

For details, see [ID:nWNAB7183]

Shares of the Dow component rose 1.6 percent to $51.69.

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