STOCKS NEWS US-GDP contracts less in Q1, demand still soft

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0840 ET 25June2009-GDP contracts less in Q1, demand still soft
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The U.S. economy shrank slightly less in early 2009 than previously
thought, the government reported on Thursday, though there was widespread
weakness in activity and demand was soft.

Gross domestic product, which measures total output within U.S. borders,
dropped at a 5.5 percent annual rate in the first quarter after shrinking 6.3
percent in the fourth quarter of last year and 0.5 percent in the third
quarter.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0826 ET 25June2009-GFT sees a higher open for U.S. markets
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GFT on Thursday forecast a higher open for U.S. markets, though it added
there "are no particular reasons for today's firmer tone."

"We could be heading for a sideways trading pattern as the summer proceeds,
with a trading range of around 5 percent," it added. "However, the
second-quarter corporate earnings season isn't far off and that could be the
catalyst for a breakout."

The firm expects the Dow Jones industrial average .DJI to open up 66
points while the S&P 500 .SPX opens up 8.5 points.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0817 ET 25June2009-Goldman adjusts ratings on oil and gas stocks
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Goldman Sachs on Thursday adjusted its ratings on several energy stocks,
writing that it was shifting its preference toward oil-leveraged stocks and
away from gas-leveraged ones.

Halliburton Co (HAL.N), Nabors Industries (NBR.N), Patterson-UTI Energy
(PTEN.O) and Oil States International (OIS.N) were all downgraded by Goldman,
which wrote that it doesn't expect high beta stocks with gas leverage to
outperform.

"While we continue to believe that the turn in fundamentals is in sight and
that we are in the midst of the next up-cycle, we are less positive on 'gassy'
North American levered stocks given that we see reduced upside potential for
2010," it wrote.

As part of its move to oil-leveraged stocks, Goldman upgraded Cameron
International (CAM.N), Transocean Ltd (RIG.N), and Diamond Offshore (DO.N).

For details, see [ID:nBNG447254]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0811 ET 25June2009-Crude oil up on conflict in Nigeria
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August crude futures rose on Thursday, after Nigeria's main militant group
shut down one of Royal Dutch Shell's (RDSa.L) pipeline junction points,
heightening concerns about supplies from the region.

For details, see [ID:nSP191786]

The contract CLc1 gained 1.1 percent to $69.43 per barrel.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0805 ET 25June2009-Hertz outlook lifts Avis in premarket
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Shares of Hertz Global (HTZ.N) rallied in premarket trading on Thursday,
after the car rental company forecast quarterly profit above market estimates,
as well as a surprise full-year profit.

The company also said it saw no significant long-term financial impact from
General Motors GMGMQ.PK and Chrysler bankruptcies.

For details, see [ID:nBNG382203]

Shares of Hertz rose 12.4 percent to $7.88 in premarket trading while peer
company Avis Budget (CAR.N) added 5.4 percent to $4.69 on light volume.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0751 ET 25June2009-New Toyota president expects challenges to continue
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The new president of Toyota Motor (TM.N) (7203.T) on Thursday warned that
the auto industry faced two more tough years, as he sketched out a roadmap to
return the carmaker to profit.

"The new Toyota sets sail in very stormy waters," Toyoda said at a news
conference. "But right now we're working at full speed to cut costs and
jump-start sales with the support of various government incentives being rolled
out."

"We want to do everything possible to avoid a third consecutive year of
losses," he said, adding he would take a 30 percent pay cut for the first year.

For details, see [ID:nT242118]

Shares of Toyota closed Wednesday at $76.06.

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