STOCKS NEWS US-Cable firms fall on day of television transition

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1211 ET 12June2009-Cable firms fall on day of television
transition
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Shares of cable companies fell on Friday, the day that most
television affiliates switch their signals to analog to
digital.

Time Warner Cable (TWC.N) fell 1.9 percent to $30.67,
Comcast Corp (CMCSA.O) sank 2.3 percent to $14.18, DISH
Networks (DISH.O) was off 2.3 percent to $15.19 and DirecTV
(DTV.O) slid 2.7 percent to $22.69.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1203 ET 12June2009-Nasdaq down on sell-off in tech
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The Nasdaq fell on Friday, pressured by a sell off in tech
stocks, while a rise in defensives cushioned losses in the Dow
and S&P 500.

For details, see [ID:nN1210642]

The Dow Jones industrial average .DJI fell 0.2 percent to
8,755.73 while the S&P 500 .SPX lost 0.6 percent to 939.74
and the Nasdaq .IXIC was off 1.3 percent to 1,837.91.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1154 ET 12June2009-Citi raises price target on Microsoft
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Citi on Friday raised its price target on Microsoft Corp
(MSFT.O), upping it to $28 from $23, an increase of almost 22
percent.

"We expect sentiment to continue to improve with the next
catalyst likely fiscal year 2010 expense guidance on
fourth-quarter earnings as we expect Microsoft will unveil a
more focused expense plan than the Street is modeling," the
firm wrote, affirming its buy rating on the software giant.

Citi said that the fourth-quarter might be "difficult" for
the stock because of a weak information technology spending
environment, but "we would urge investors to look through
near-term demand weakness and rather focus on upside potential
to 2010 margins as in our view Microsoft is more focused on its
expense structure than it has ever been." [ID:nBNG422756]

Shares of the Dow component were flat at $22.83.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1143 ET 12June2009-Goldman upgrade lifts Alpha Natural
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Alpha Natural Resources Inc (ANR.N) and Foundation Coal
Holdings Inc (FCL.N) rose on Friday after Goldman Sachs
upgraded Alpha Natural and boosted its price target on
Foundation Coal, citing benefits from the pending combination
of the two companies.

The firm boosted Alpha Natural to "conviction list buy"
from "neutral" and raised its target on Foundation Coal by $8
to $41 on the belief that Alpha's proposed purchase enhances
the competitive positioning of both companies in the
medium-to-long term.

Alpha Natural shares gained 2.5 percent to $29.46 while
Foundation Coal added 1.4 percent to $31.15.