STOCKS NEWS US-GE CEO would oppose splitting off finance arm

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1346 ET 22June2009-GE CEO would oppose splitting off finance arm
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Jeff Immelt, the chief executive officer of General Electric (GE.N), wrote
in a memo that the company would oppose any regulation that would force it to
split off its finance business.

Some investors and analysts have said that the Obama administration's
proposed revamping of the U.S. financial regulatory system could force GE to
sell or exit its GE Capital unit, which has businesses ranging from leasing
commercial aircraft to investing in real estate.

"This issue had nothing to do with the financial crisis," the memo read.
"GE is and will remain committed to GE Capital and we like our strategy."

For details, see [ID:nN22508569]

Shares of GE, a Dow component, sank 4 percent to $11.62 on Monday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net; Editing by
Kenneth Barry
1325 ET 22June2009-Ameristar rises after upgrade, peers tumble
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JPMorgan on Monday upgraded Ameristar Casinos (ASCA.O) to overweight from
neutral, citing valuation, investor expectations and growing excess free cash
flow.

The firm also wrote that the company would benefit from the relaxation of
gaming regulations in Colorado in July.

For details, see [ID:nBNG100644]

Shares of the company rose 4.1 percent to $18.85 while MGM Mirage (MGM.N)
sank 9.6 percent to $5.94 and Las Vegas Sands (LVS.N) dropped 9 percent to
$7.41.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1143 ET 22June2009-Eastman Kodak stops production on Kodachrome line
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Eastman Kodak (EK.N) on Monday said it was stopping production on its
Kodachrome product line because of competition from digital cameras.

"The majority of today's photographers have voiced their preference to
capture images with newer technology -- both film and digital," said Mary Jane
Hellyar, president of Kodaks Film, Photofinishing and Entertainment Group.

In the end, Kodachrome accounted for less than 1 percent of the company's
total sales of still-picture films, the company said.

For details, see [ID:nN22495892]

Shares of Kodak sank 4.9 percent to $2.71.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1138 ET 22June2009-CBS Corp names Joseph Ianniello CFO
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CBS Corp (CBS.N) on Monday named Joseph Ianniello chief financial officer
and executive vice president, effective July 20.

Ianniello has served as deputy CFO since November. He succeeds Fred
Reynolds, who is retiring.

For details, see [ID:nWNBB0005]

Shares fell 3.7 percent to $7.07.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1124 ET 22June2009-Merck to sell $3.5 bln debt in four parts: IFR
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Merck & Co (MRK.N) is planning to sell $3.5 billion in debt in a four-part
sale, said IFR, a Thomson Reuters service, on Monday.

The offering includes a two-year, six-year and 10-year note issue and a
30-year bond issue, according to IFR.

Banc of America Securities, Citigroup Global Markets, JP Morgan and RBSGC
are the joint lead managers on the sale.

Shares of the pharmaceutical company, a Dow component, fell 2 percent to
$25.39.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1115 ET 22June2009-Medarex shares jump on Mayo Clinic study
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Medarex Inc (MEDX.O) shares jumped on Monday after a Mayo Clinic report
that two patients being treated in a mid-stage trial with its experimental
cancer drug are now cancer free. [ID:nBNG498210]

The clinic said the patients' prostate cancer was considered inoperable and
was treated with a combination of Medarex's ipilimumab, standardized hormone
treatment and radiation therapy.

Medarex shares surged 16 percent to $8.54.

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