STOCKS NEWS US-TARP repayment to hurt Goldman's Q2: analyst

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1036 ET 22June2009-TARP repayment to hurt Goldman's Q2 profit:
O'Neill
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Sandler O'Neill on Monday wrote that while repaying TARP
would be a long-term positive for Goldman Sachs (GS.N), it
would hurt the company's second-quarter profit.

Despite that, the firm raised its second-quarter earnings
outlook on the financial services company because of increased
underwriting and FICC trading assumptions.

For details, see [ID:nWNAB1670]

Shares of Goldman fell 1.2 percent to $141.43.

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 (SIRI.O) rose on Monday, after
the company said it would offer $350 million of senior secured
notes due 2013.

The radio company will use the proceeds to repay all
amounts outstanding under its amended, restated credit
agreement.

The stock gained 3.7 percent to 36 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.

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