STOCKS NEWS US-Oculus soars on data from acne treatment study

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1128 ET 19June2009-Oculus shrs soar on data from acne treatment study
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Shares of Oculus Innovative Sciences Inc (OCLS.O) soared on Friday, after
the biopharmaceutical company reported "promising results" from a feasibility
study for acne treatment with an enhanced formulation of its Microcyn skin and
wound gel.

The company said data from the 40-patient study warranted further
examination and that it intended to explore prospective partnerships for the
gel.

For details, see [ID:nBNG479741]

The stock advanced 12.5 percent to $3.78.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1121 ET 19June2009-Markets rise on economic optimism
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Major U.S. indexes rose on Friday as a recent round of encouraging economic
data beckoned investors back for a second straight day.

The International Monetary Fund underscored the sense of improving
fundamentals after First Deputy Managing Director John Lipsky said the fund may
lift its 2010 growth forecast for the world economy amid signs the decline in
global output was moderating.

For details, see [ID:nN19440982]

The Dow Jones industrial average .DJI rose 0.3 percent to 8,584.93 while
the S&P 500 .SPX gained 0.6 percent to 923.78, and the Nasdaq .IXIC was up
1.3 percent to 1,831.42.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by
Kenneth Barry
1013 ET 19June2009-Barclays: Put spreads look attractive for rails
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Cheap volatility along with a rich skew makes put spreads attractive to
capture short-term weakness in railroad stocks Union Pacific Corp (UNP.N) and
Norfolk Southern Corp (NSC.N), a team of Barclays Capital analysts said in a
note this week. Union Pacific and Norfolk are among the handful of stocks in
the S&P 500 where the three-month implied volatility is trading at a discount
to the realized volatility, they said. They recommend buying the UNP August
$44-$49 put spread for a cost of $1.70 and purchasing the NSC September $31-$36
put spread for a net payment of $1.60. "Rail stocks remain more than 40 percent
below their high in July 2008," the note said. The Barclays air freight and
ground transportation analyst believes the acceleration of volume weakness will
likely present another significant earnings challenge for the stocks next
quarter. The analyst expects earnings to come in below consensus estimates and
sees the biggest miss potential in these two stocks for the second half of this
year.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
0959 ET 19June2009-Apple's new iPhone hits stores
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The newest version of Apple Inc (AAPL.O) iPhone went on sale on Friday,
while investors also await the presumed re-emergence of Steve Jobs, the
company's chief executive.

Jobs has been on medical leave for about six months.

The new version of Apple's popular smartphone features a faster processor,
video capability, an improved camera and better battery life. [ID:nN18225640]

Separately, an analyst at Merrill Lynch said China Unicom Ltd (0762.HK) may
be close to a deal to become the exclusive seller of the iPhone in China for
two years. [ID:nHKG71823]

Shares of Apple rose 1.8 percent to $138.43.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0953 ET 19June2009-China fund to invest $500 mln in Blackstone fund: WSJ
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Chinese sovereign wealth fund China Investment Corp (CIC) is poised to put
$500 million into a Blackstone Group LP (BX.N) fund, according to a report in
the Wall Street Journal.

The move would come as CIC Chairman Lou Jiwei worries about missing
investment opportunities as the market nears a bottom, the paper reported,
citing unnamed sources.

For details, see [ID:nN19437991]

Shares of Blackstone gained 2.2 percent to $11.40 on Friday.

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