STOCKS NEWS US-Deutsche Bank cuts targets on steel companies

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U.S. stock market report [.N]
0803 ET 06April2009-Deutsche Bank cuts targets on steel companies
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Deutsche Bank on Monday cut its price targets on a number of steel
companies, saying that while the group was "in the early stages of a recovery,"
it wasn't prepared to accept this as a sustainable rebound, "as we haven't
observed any meaningful improvement in 'leading' indicators in steel and steel
price pressure hasn't abated."

It downgraded both Ternium (TX.N) and Gerdau AmeriSteel (GNA.N) to sell
from hold, seeing market surpluses and lower costs. It also said that contract
prices were "poised to decline" in the coming quarters.

Deutsche Bank cut its target on U.S. Steel (X.N) to $23 from $30, on AK
Steel (AKS.N) to $7.75 from $10 and on ArcelorMittal (MT.N) to $21.5 from $23.
[ID:nWNAB0882]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0759 ET 06April2009-Futures turn negative on banks, tech stocks
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U.S. index futures turned negative on Monday, as banks erased early gains
and a downgrade of Cisco (CSCO.O) weighed on investor sentiment for the tech
group.

For details, see [ID:nN06382017]

Dow Jones industrial average futures DJc1 fell 37 points while S&P 500
futures SPc1 slid 4.5 points and Nasdaq 100 futures NDc1 were down 6.25
points.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0753 ET 06April2009-Republic valuation attracting investors: Barron's
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Barron's wrote that shares of waste hauler Republic Services (RSG.N) were
becoming attractive to investors after dropping 39 percent in the past year.

The financial publication noted that Bill Gates's investment vehicle,
Cascade Investment, had increased its stake in the waste hauler to nearly 15
percent in the past few months. [ID:nN05326949]

Shares of Republic closed Friday at $18.18.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0743 ET 06April2009-HSBC rises after response to rights issue
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U.S.-listed shares of HSBC (HSBA.L) (HBC.N) bank rose in premarket trade
after its $18.9 billion rights issue received a robust response from investors,
with leftover shares sold quickly. [ID:nL6573199]

The stock rose 2.8 percent to $33.52 in premarket trade on the New York
Stock Exchange.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0736 ET 06April2009-Flat panel TV sales may help Corning: Barron's
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Sales of flat-panel televisions have stayed steady despite the global
economic recession, Barron's wrote in its April 6 edition, calling the trend a
good sign for Corning Inc (GLW.N).

Despite that, the financial publication wrote that the specialty glass
company's other business, providing optic fiber to the telecommunications
industry and emissions control systems to the automotive industries, was
expected to remain under pressure because of the economy. [ID:nN05328383]

Corning shares closed Friday at $15.96.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0732 ET 06April2009-Bristol-Myers wins Abilify extension
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Pharmaceutical company Bristol-Myers Squibb (BMY.N) said it would sell its
Abilify schizophrenia drug about 29 months longer than expected. It had been
expected in November 2012 to return U.S. sales rights to the medicine's
discoverer, Otsuka Pharmaceutical Co of Japan. [ID:nN05344050]

The company said that the revised licensing deal would add at least 30
cents per share to the company's profit in 2013 and 2014.

Shares closed Friday at $20.17.

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