STOCKS NEWS US-Valspar climbs after analyst upgrade

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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.

The firm 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 it believes will benefit
Valspar.

Valspar shares climbed 2.8 percent to $22.72. Rivals
Sherwin-Williams Co (SHW.N) slid 1.2 percent to $52.95 while
PPG Industries Inc (PPG.N) shed 2.2 percent to $41.88.

Reuters
Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1007 ET 22June2009-Fund manager likes Alexion, Micron,
Pulte-Barron's
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The lead manager of Turner MidCap Growth Investor fund is
betting on growth in Alexion Pharmaceuticals Inc (ALXN.O),
chipmaker Micron Technology Inc (MU.N) and home builder Pulte
Homes Inc (PHM.N).

Speaking to business weekly publication Barron's,
Christopher McHugh said he was betting on mid-cap companies
that dominate their sector. His fund suffered a 48.6 decline
last year, though it averaged a yearly return of 7.8 percent
since its inception in 1996.

He said that he anticipated signs of economy recover
through 2010, forecasting that the S&P 500 could touch 1,050 by
the end of 2009.

For details, see [ID: nN21482711]

Shares of Alexion Pharmaceuticals dropped 1.8 percent to
$37.83, Micron Technology was up 3.2 percent to $5.50, and
Pulte was up 1.3 percent to $8.90.

(Reuters Messaging: rachel.chang.reuters.com@reuters.net)
0956 ET 22June2009-Fed may revamp U.S. repo market: FT
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The Federal Reserve is considering creating a utility to
replace the Wall Street banks that handle U.S. repo market
transactions, the Financial Times reported on Monday, citing
people familiar with the matter.

The proposal is partly motivated by concerns that the
structure of the U.S. overnight repurchase market may have
exacerbated the financial turmoil that followed the collapse of
Lehman Brothers (LEHMQ.PK) in September. Fed officials plan to
meet next month with market participants to discuss reforms,
the paper wrote.

For details, see [ID:nLM709079]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0947 ET 22June2009-Citigroup raises estimates on Intel
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Citi raised its estimate on Intel Corp (INTC.O) on Monday,
saying gross margin upside at the company was likely. Citi
raised its 2010 profit view to 97 cents from 88 cents and
lifted its price target on the stock by $1 to $21. It estimated
gross margin upside because of higher utilization, improved mix
and better 32 nanometer yields.

Shares of Intel, a Dow component, rose 0.1 percent to
$16.03.

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