STOCKS NEWS US-SLM Corp rises after JPMorgan upgrade

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0910 ET 25June2009-SLM Corp rises after JPMorgan upgrade
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Shares of SLM Corp (SLM.N) rallied in premarket trading on Thursday, after
the company was upgraded to overweight from neutral at JPMorgan.

The upgrade is based "on a long-term view that its transition to primarily
a loan servicer, as opposed to a lender, will lower interest rate and funding
risks, thus improving earnings visibility," the firm wrote.

JPMorgan added that since many questions about the education finance
company had been answered, some concerns had diminished.

"With the future of SLM's business model now more certain, we find shares
are cheap, trading at 55 percent of our sum-of-the-parts valuation," it wrote.

Shares of SLM rose 3.6 percent to $8.63 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0906 ET 25June2009-Dress Barn to buy Tween Brands in $157 mln deal
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Women's clothing retailer Dress Barn Inc (DBRN.O) agreed to buy
teen-apparel seller Tween Brands Inc (TWB.N) in an all-stock deal valued at
about $157 million, the companies said jointly.

The equity value of the deal represents a premium of 20 percent to Tween
Brands' Wednesday close of $5.18.

Under the agreement, each common share of Tween Brands will be exchanged
for 0.47 shares of Dress Barn common stock.

For details, see [ID:nBNG287884]

Shares of Dress Barn rose 2.7 percent to $13.60 in premarket trading while
Tween Brands rose 20 percent to $6.20.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0858 ET 25June2009-Insmed plummets after Phase II trial data
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Shares of Insmed Inc (INSM.O) fell 49 percent to $1.19 in premarket trading
on Thursday, after the company said a drug missed a majority of functional
endpoints in a Phase II study. For details, see [ID:nWNAB2121]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0855 ET 25June2009-Futures drop after data
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U.S. index futures fell on Thursday, following the release of data that
showed that the number of workers filing new claims for jobless benefits
unexpectedly rose last week. [ID:nN25257776]

Dow Jones industrial average futures DJc1 fell 46 points while S&P 500
futures SPc1 slid 5.3 points and Nasdaq 100 futures NDc1 were down 9
points.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0850 ET 25June2009-Jobless claims rose 15,000 in latest week
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The number of U.S. workers filing new claims for jobless benefits
unexpectedly rose last week and the number staying on the rolls after
collecting an initial week of aid also edged higher, government data on
Thursday showed.

Initial claims for state unemployment insurance increased by 15,000 to a
greater-than-expected seasonally adjusted 627,000 from a revised 612,000 the
week before, the Labor Department said. Analysts polled by Reuters had forecast
claims to drop to 600,000 from a previously reported 608,000.

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