STOCKS NEWS US-World Bank cuts forecast, OECD sees contraction

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0739 ET 22June2009-World Bank cuts forecast, OECD sees contraction
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The Organization for Economic Cooperation and Development added to a grim
outlook from the World Bank on Monday, saying major economies will contract
throughout 2009 and the problem of unemployment will linger.

"We see a very difficult 2009, with negative growth in the OECD area.
Unemployment problems are going to continue to linger," Angel Gurria, the head
of the Organization for Economic Cooperation and Development told Reuters
television in an interview on the sidelines of a conference in Paris.

Earlier the World Bank said prospects for the global economy remain
"unusually uncertain" as it cut 2009 growth forecasts for most economies.

For details, see [ID:nSP494174]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0734 ET 22June2009-Exxon near deal on potential LNG sales
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ExxonMobil (XOM.N), operator of a liquefied natural gas project in Papua
New Guinea, is nearing agreement on sales with three major buyers in Asia,
putting the project on track for a final investment decision later this year.

The sale of 4.3 million tonnes per annum (mtpa), plus an earlier 2 mtpa
deal, would mean the project was fully contracted for its proposed total
output, cementing its frontrunner status among a dozen competing LNG hopefuls
in the region.

For details, see [ID:nSYD476906]

Shares of the Dow component closed Friday at $71.05.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0730 ET 22June2009-Futures down as investors question recovery
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U.S. index futures were down on Monday, as as investors assessed the
potential strength of an economic recovery ahead of a round of key data this
week. Energy stocks were also pressured by a drop in the price of crude oil.

For details, see [ID:nN22430567]

Dow Jones industrial average futures DJc1 fell 50 points while S&P 500
futures SPc1 slid 8 points and Nasdaq 100 futures NDc1 were down 9 points.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0724 ET 22June2009-Barron's sees strong growth in LSI Corp
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Semiconductor maker LSI Corp (LSI.N) will likely grow faster than its
peers, and investors may be underestimating its earnings potential, Barron's
wrote in its June 22 issue.

The financial publication wrote that the company was set to grow over the
next few years, and quoted BlackRock Basic Value Fund manager Kevin Rendino as
saying its shares should command a multiple of at least 15 times, arriving at a
target price of $7.50.

For details, see [ID:nN21279891]

Shares gained 0.8 percent to $5 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0720 ET 22June2009-T-Mobile to sell new Google phone in August
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T-Mobile USA will begin selling a new smartphone using Google Android
operating software in August. The new phone, which will cost $199, was
described as a slimmer and more advanced version of the previous version.

The phone can also be personalized, such as with custom home screens and
widgets, T-Mobile said. The Android platform can also learn user preferences
and offer recommendations.

For details, see [ID:nN18408542]

Shares of Google closed Friday at $420.09.

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