STOCKS NEWS US-New Toyota pres expects challenges to continue

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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
0743 ET 25June2009-Citigroup sees challenging Q2 for Bank of America
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Citigroup on Thursday said that Bank of America's (BAC.N) second quarter
was "likely to be a challenge," and cut its price target on the stock to $18
from $20.

"We see another large reserve build in the second quarter and expect loan
loss provisions to be up versus the elevated first quarter," the firm wrote.

Despite that, Citi wrote that there was potential for a second straight
quarter of stabilization of consumer early stage delinquencies, "which could
mean the second quarter may be the peak in terms of reserve build (not
charge-offs)."

Shares of Bank of America, a Dow component was flat in premarket. The
shares closed Wednesday at $12.35.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0740 ET 25June2009-China accuses Google of spreading vulgar content
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China's Foreign Ministry on Thursday accused Google's (GOOG.O) English
language search engine of spreading vulgar content that violated the nation's
law.

Chinese Foreign Ministry spokesman Qin Gang did not directly answer a
question about whether government action was responsible for recent disruptions
in access to Google sites from within China.

Gang described the content as "lascivious and pornographic, seriously
violating China's relevant laws and regulations."

For details, see [ID:nPEK180004]

Shares of Google closed Wednesday at $409.29.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0733 ET 25June2009-Goldman Sachs upgrades Deere to neutral
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Shares of Deere & Co (DE.N) rose in premarket trading on Thursday, after
the company was upgraded to neutral by Goldman Sachs and removed from their
Americas sell list. The firm cited a recent sell-off in the share price, which
it wrote gave it 8 percent upside to its $42 price target.

"We have become more bullish on a recovery in commodity prices, but still
prefer mining equipment stocks Bucyrus (BUCY.O) and Joy Global (JOYG.O) given
higher intensity of demand and more consolidated supply."

Shares of Deere rose 1.4 percent to $40.56 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0725 ET 25June2009-Jefferies rallies after strong results
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Shares of Jefferies Group (JEF.N) rallied in premarket trading on Thursday,
a day after the company reported second-quarter results that beat expectations.
The investment bank also gave a outlook that was above consensus.
[ID:nN24218535]

Also on Thursday, Jefferies filed a registration statement for a mixed
shelf of an unspecified amount. [ID:nWNAB2082]

Shares of Jefferies rose 13.4 percent to $23.20 in premarket trading on
light volume.

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