STOCKS NEWS US-Wall St barely reacts to Buffett's equities view

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1214 ET 24Jun2009-Wall St barely reacts to Buffett's equities view
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U.S. stock indexes barely budged on Wednesday when billionaire investor
Warren Buffett told CNBC that equities were "attractive over the next 10 years"
compared with alternatives.

Indexes kept their strong gains heading into the U.S. Federal Reserve's
policy statement, expected at 2:15 p.m. (1815 GMT).

For more details, see [ID:nWEN0954]

Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1152 ET 24June2009-World's rich lost 20 pct of value in 2008: survey
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The world's rich lost nearly 20 percent of their total wealth in 2008, as
volatile markets wiped out two years of growth, a Merrill Lynch study showed on
Wednesday.

The total value of the wealth of people with net assets of more than $1
million, excluding their main home and consumables, dropped to $32.8 trillion
-- below 2005 levels, the 13th annual Merrill Lynch World Wealth Report
showed.

For details, see [ID:nN24175116]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1134 ET 24June2009-H.B. Fuller climbs after earnings
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H.B. Fuller Co (FUL.N) shares rose on Wednesday after the chemical maker
reported second-quarter profit that topped Wall Street's estimates, citing
improved margins from lower raw material costs and lower expenses.

The company posted quarterly earnings of 36 cents per share, above the
average estimate of analysts surveyed by Thomson Reuters of 25 cents per
share.

While the company also maintained its previous full-year guidance of a
revenue decline ranging from 10 percent to 12 percent, it said it expects to
further reduce its debt in the second half of 2009.

H.B. Fuller's stock rose almost 11 percent to a session high at $18.53,
while the Dow Jones U.S. Chemical index .DJUSCH shot up 2.3 percent.

Reuters Messaging: rm://Charles.mikolajczak.reuters.com@reuters.net
1125 ET 24June2009-Option bulls line up for ITT calls
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Shares of for-profit education provider ITT Educational Services Inc
(ESI.N) rose 98 cents to $92.92. This year, the stock has garnered support
consistently at $90, and found a trading range of $90-$100 in recent months,
said Pete Najarian, a founder of optionMonster.com in comments on the firm's
website. Unemployment hurts plenty of businesses, but not for-profit schools,
which find themselves with a rush of applicants as the jobless rate is
projected to rise.

"The enrollment increased 37 percent in the first quarter and in 2009,
management plans to open six to eight new locations," he said.

According to optionMonster's computer model, ESI July calls attracted some
upside buying, notably the July $105 and $110 strikes. The $105 calls were
bought quickly for premiums of 75 cents to 80 cents while the $110 calls traded
at 42 cents. This industry leader is trading at the cheapest valuation and the
buyers may be expecting the range to hold and move to the upper end, he said.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1117 ET 24June2009-MEMC Electronic shares fall after downgrade
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Shares of MEMC Electronic Materials (WFR.N) fell on Wednesday, after J.P.
Morgan Securities downgraded the stock two notches, to "underweight" from
"overweight." The company cited a faster-than-expected decline in the average
selling prices in all of the silicon maker's product lines.

"We also believe the overall supply of polysilicon will far exceed that of
demand for the remainder of 2009 and well into 2010, driving down spot
polysilicon as well as semiconductor and solar wafer pricing," the company
wrote to clients.

For details, see [ID:nBNG494360]

Shares fell 1.3 percent to $17.63.

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