STOCKS NEWS US-Hertz outlook lifts Avis in premarket

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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
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