STOCKS NEWS US-Cal-Maine rallies after Barron's report

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1326 ET 15June2009-Cal-Maine rallies after Barron's report
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Shares of Cal-Maine Foods Inc (CALM.O) rallied on Monday, advancing after a
portfolio manager indicated the egg processor was undervalued, according to a
story in this week's Barron's magazine.

For details, see [ID:nN15199693]

The stock added 5.3 percent to $24.12.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1222 ET 15June2009 Sprint upside calls on the run, shares rise
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Sprint Nextel Corp (S.N) rose 2.65 percent to $5.43 in afternoon trade and
bullish sentiment is building on the stock. The top options trade earlier in
the day was 4,869 July $6 calls for a premium of 30 cents on the International
Securities Exchange, an opening customer buyer, according to ISEE Sentiment
data, said WhatsTrading.com option strategist Frederic Ruffy. In that strike
price, 21,104 contracts now traded vs. open interest of 6,311 lots, Reuters
data show. Ruffy said the August $6 calls were also bought and that June $6
calls attracted two-way traffic. In all, about 38,000 calls and 3,950 puts
traded, double the norm, Trade Alert figures show. It was not clear what the
catalyst was but on Friday Sprint said it was looking to sell parts of its
network assets to comply with an Illinois court ruling requiring it to sell or
shut down its iDEN network. The stock's implied volatility stood at 81 percent
up from about 67 percent late on Friday.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1204 ET 15June2009 Lear Corp shares slide on Barclays' downgrade
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Lear Corp (LEA.N) shares plunged on Monday after Barclays Capital cut its
rating and price target on the stock, citing the diminished value for
shareholders.

The auto parts supplier was downgraded to "underweight" from "equal
weight," noting that even if an out-of-court solution is found for the company
to avoid bankruptcy, it would still involve a significant equity dilution.

The stock tumbled more than 19 percent to $1.56. The Dow Jones U.S. Auto
Parts index .DJUSAP dropped 3.7 percent.

Reuters Messaging: Charles.mikolajczak.reuters.com@reuters.net
1150 ET 15June2009 Savient puts look attractive before FDA review of gout drug
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Put options in Savient Pharmaceuticals Inc (SVNT.O) look attractive ahead
of an FDA Advisory Committee meeting on Tuesday to discuss whether to recommend
approval of its proposed gout drug Krystexxa, said Jefferies derivatives
strategists in a note. "For investors who believe there is risk of a negative
AdComm recommendation, we recommend buying the June $5 put," they said. Savient
shares rallied after the U.S. Food and Drug Administration said on Friday
Krystexxa appears effective despite serious health issues cited by the agency.
Savient is seeking U.S. approval for the drug to treat patients whom other
therapies have not helped. "Given the large run-up in the stock after the
briefing documents were announced, we think a negative recommendation from the
panel would weigh heavily on the shares," the note said. Savient shares were up
1.95 percent to $9.44 near midday.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1133 ET 15June2009-Data Domain rejects EMC offer in favor of NetApp
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Shares of Data Domain (DDUP.O) fell on Monday, dropping 1.2 percent to
$33.11 after it rejected a hostile takeover bid from EMC Corp (EMC.N). It also
asked shareholders to back a $30-per-share deal it had signed with NetApp
(NTAP.O).

The move sets the stage for EMC to increase its $30-per-share cash offer
for Data Domain.

For details, see [ID:nN15198442]

Shares of EMC fell 1.9 percent to $13.01 while NetApp was off 2.4 percent
to $19.65.

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