STOCKS NEWS US-Steel index falls after Goldman move

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1059 ET 12June2009-Steel index falls after Goldman move
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The Dow Jones U.S. Steel index .DJUSST fell on Friday,
after Goldman Sachs downgraded AK Steel (AKS.N) to neutral,
seeing limited upside from current levels.

The firm also wrote that any benefit from a government
stimulus plan on infrastructure was already priced into the
stock.

For details, see [ID:nBNG414500]

At the same time, Goldman upgraded Steel Dynamics (STLD.O)
to buy, saying that after a recent capital raise, concerns
about an imminent breach of debt covenants were behind it.

The index fell 3.1 percent to $229.19 while AK Steel sank 5
percent to $20.09, U.S. Steel (X.N) lost 4.4 percent to $39.98
and Nucor (NUE.N) was down 2.8 percent to $47.61. Steel
Dynamics edged 0.1 percent lower to $16.25.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1049 ET 12June2009-TNS Inc climbs after upgrade
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TNS Inc (TNS.N) shares jumped on Friday after Raymond James
upped its rating on the stock and boosted its price target
after a recent marketing trip with management.

The firm upgraded the stock to strong buy from outperform
and raised its price target by $3 to $27.

Raymond James also increased its 2010 revenue estimate by
$17 million and its earnings per share view by 17 cents to
$2.23, on the belief the firm had been too conservative with
its revenue and expense outlook.

The firm thinks that three of TNS's four divisions have
bottomed or are improving, with the fourth set to "greatly
benefit" from the acquisition of Communication Services Group
from Verisign Inc. (VRSN.O).

TNS shares climbed 5.8 percent to $19.51.

Reuters
Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net))
1042 ET 12June2009-DA Davidson: investors may be overly
optimistic
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DA Davidson on Friday said while it saw signs that the rate
of decline in the recession was slowing, "we are concerned that
investors are too optimistic regarding the timing of the
economy actually bottoming out and may be expecting a very
rapid recovery beginning early to mid-summer."

"These concerns appear to be among the reasons that recent
stock market rally has noticeably slowed over the last couple
of weeks," it added.

Despite that, DA Davidson expects to rise over the next six
to twelve months, "as investors recognize the wind down of the
global recession and continue to look for a modest extended
economic recovery in 2010 and 2011."

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1033 ET 12June2009 Nvidia gets put sellers, implied vols down
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Graphics chipmaker Nvidia Corp (NVDA.O) shares fell 3.28
percent to $11.18 in morning trade, fueling the premiums on the
stock's put options. About 15,000 contracts already traded vs.
2,105 calls in the first hour of trade, according to Trade
Alert. The action is scattered across June, July and September
puts with strike prices ranging from $10 to $12.50. Most of the
volume is hitting bid-side and it appears that sellers are
driving the early action in Nvidia puts, said WhatsTrading.com
option strategist Frederic Ruffy. The stock's option implied
volatility stood at 60 percent down from about 61 percent the
previous session.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1012 ET 12June2009-Human Genome sinks after downgrade
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Shares of Human Genome Sciences (HGSI.O) tumbled on Friday,
after Lazard Capital Markets downgraded the stock to sell from
hold, arguing that there was a low probability of the company's
lupus drug succeeding.

The firm added that if the drug didn't meet the primary
goal of the trial, Human Genome's shares could fall to $1.

For details, see [ID:nBNG494428]

The stock dropped 12 percent to $2.78.

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