STOCKS NEWS US-Futures edge higher ahead of data, FedEx

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0735 ET 17June2009-Futures edge higher ahead of data, FedEx
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U.S. index futures were modestly higher on Wednesday, ahead of the release
of key inflation data for May. Investors were also looking to quarterly results
from FedEx Corp (FDX.N).

For details, see [ID:nN17322655]

Dow Jones industrial average futures DJc2 rose 22 points while S&P 500
futures SPc2 gained 2.9 points and Nasdaq 100 futures NDc2 were up 3.75
points.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0725 ET 17June2009-BofA-ML upgrades Texas Instruments to buy
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Shares of Texas Instruments (TXN.N) rallied in premarket trading on
Wednesday, after Bank of America-Merrill Lynch upgraded the stock to buy and
added it to its U.S. 1 list.

"Our more favorable view is based on an expectation of margin expansion
well above that currently being forecasted by the Street," the firm wrote,
raising its price target on the semiconductor components supplier to $27 from
$18.

"While there remains a significant focus on the impact to revenue from a
declining baseband business over the next tree years, we think the perception
is worse than the reality," it wrote.

Shares of Texas Instruments rose 3.7 percent to $21.50 in premarket
trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0721 ET 17June2009-GFT sees "subdued" higher open for markets
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GFT Wednesday forecast a "subdued start" for U.S. markets on Wednesday, as
investors await May CPI data.

"In the current environment a low number will rattle equities. The
expectation is for a month-on-month rise in Core CPI of 0.1 percent, and
traders are now concerned about a lack of traction in prices and much-feared
deflationary pressures," the firm wrote.

GFT expects the Dow Jones industrial average .DJI to open up 10 points
while the S&P 500 .SPX opens up 1 point.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0713 ET 17June2009-Star Scientific loses Reynolds patent dispute
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A jury in Maryland late Tuesday ruled against Star Scientific STSI.O in
its lawsuit with Reynolds American Inc (RAI.N) in a patent dispute over
reducing cancer-causing elements in tobacco.

"Certainly, we are pleased with the jury's decision," chief patent counsel
for R.J. Reynolds August Borschke said in a statement. "They saw what we have
known all along, that Star's patents are invalid, and they should not have been
issued in the first place."

For details, see [ID:nN16390026]

Shares of Star plummeted 81 percent to 80 cents in premarket trading while
Reynolds American closed Tuesday at $36.33.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0708 ET 17June2009-Crude oil edges lower ahead of inventory data
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July crude futures edged lower on Wednesday, dropping ahead of a U.S.
inventory report expected to show supplies declined in the world's top
consumer.

For details, see [ID:nSP290171]

The contract dropped 0.5 percent to $70.10 per barrel.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0704 ET 17June2009-Economic indicators for June 17
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Economic indicators on tap for Wednesday include May CPI data, May real
weekly earnings, Cleveland Fed median CPI data for May and first-quarter
current account figures.

The MBA reported that weekly U.S. mortgage applications plunged to near
7-month lows in the week ended June 12.

For details, see [ECI/US]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0659 ET 17June2009-Earnings diary for June 17
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Companies scheduled to report quarterly results on Wednesday include FedEx
(FDX.N), Clarcor (CLC.N), IHS Inc (IHS.N), Somanetics Corp (SMTS.O) and Actuant
Corp (ATU.N).

For details, see [RESF/US]

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