STOCKS NEWS US-LodgeNet shares tumble, to sell $50 mln in stock

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1111 ET 22June2009-LodgeNet shares tumble, to sell $50 mln in
stock
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Shares of LodgeNet Interactive (LNET.O) tumbled on Monday,
after the company said it plans to sell $50 million in
convertible preferred stock and use the proceeds partly to
reduce debt.

The company plans to sell its convertible preferred stock
in a private offering to institutional investors. The preferred
stock will have a liquidation preference of $1,000 per share.

For details, see [ID:nBNG499448]

The stock sank 26 percent to $3.35.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1057 ET 22June2009-Citigroup sees upside in cyclical stocks
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Citigroup said on Monday that even though cyclical stock
prices have surged recently, the run-up wasn't over.

"While there is concern that investors have missed the
substantive move in stocks geared towards the
energy/industrial/commodity complex, we think that it is
premature to worry and believe there is still meaningful
outperformance potential," the firm wrote.

"While investor surveys show increasing investor enthusiasm
for this area, such poll results have not proven to be
contrarian indicators for the past year and other factors argue
for overweight positions."

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1044 ET 22June2009-Markets tumble on economic worries, energy
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Major U.S. indexes fell on Monday as investors questioned
the strength of an economic recovery, and the price of crude
oil dropped, pressuring energy shares.

For details, see [ID:nN22501514]

The Dow Jones industrial average .DJI fell 1.6 percent to
8,403.92, while the S&P 500 .SPX lost 2.1 percent to 902.12,
and the Nasdaq .IXIC was off 2.5 percent to 1,782.32.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1036 ET 22June2009-TARP repayment to hurt Goldman's Q2 profit:
O'Neill
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Sandler O'Neill said on Monday that while repaying money
from the government Troubled Asset Relief Program (TARP) would
be a long-term positive for Goldman Sachs Group Inc (GS.N), it
would hurt the company's second-quarter profit.

Despite that, the firm raised its second-quarter earnings
outlook for Goldman, citing increased underwriting and FICC
trading assumptions.

For details, see [ID:nWNAB1670]

Shares of Goldman fell 1.7 percent to $140.72.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1022 ET 22June2009-Sirius shares rise, to offer $350 mln in
notes
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Shares of Sirius XM Radio Inc (SIRI.O) rose on Monday after
the company said it would offer $350 million of senior secured
notes due 2013.

Sirius will use the proceeds to repay all amounts
outstanding under its amended and restated credit agreement.

The stock gained 3 percent to 35 cents.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1017 ET 22June2009-Valspar climbs after upgrade
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Valspar Corp (VAL.N) shares rose on Monday after Citigroup
upgraded the stock and increased its price target, citing
results from recent channel checks.

Citi boosted the paint and coatings maker to "hold" from
"sell" and lifted its price target to $22, noting their paint
survey indicated a demand shift to do-it-yourself consumers at
big-box stores, which would benefit Valspar.

Valspar shares climbed 2.1 percent to $22.57. Rivals
Sherwin-Williams Co (SHW.N) slid 1.6 percent to $52.75, and PPG
Industries Inc (PPG.N) shed 1.9 percent to $42.

Reuters
Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net