HEADLINE STOCKS-Some U.S. stocks to watch on July 28

NEW YORK, July 28 (Reuters) - Some U.S. stocks to watch on Tuesday:

(All share movements are in premarket unless otherwise noted.)

BANK OF AMERICA CORP (BAC.N), $12.90, down 1.5 pct

The bank is planning to cut its branch network by about 10 percent, according to a report in the Wall Street Journal. [ID:nBNG473074]

AUTODESK INC (ADSK.O) $21.90, Monday close

Jefferies upgraded the company to "buy" from "hold," saying demand was looking up for the company as indicated by its most recent survey work. [ID:nBNG443442]

BP PLC (BP.N), $50.73, down 1.2 pct (U.S.-listed shares)

The company increased its cost reduction targets for 2009 by 50 percent to $3 billion, as it reported a halving in second quarter profits due to lower oil prices and weaker refining margins. [ID:nLR694861]

INTERNATIONAL BUSINESS MACHINES CORP (IBM.N), $117.01, down 0.5 pct

SPSS INC SPSS.O, $49.30, up 41 pct

IBM plans to buy SPSS for $50 a share in a cash deal valued at about $1.2 billion. [ID:nN2894513]

SPRINT-NEXTEL CORP (S.N), $4.54, down 0.2 pct

VIRGIN MOBILE USA VM.N, $5.15, up 22 pct

Sprint will buy Virgin in a deal that has a total equity value of about $483 million. [ID:nWNBB3905]

TEXTRON INC (TXT.N), $11.25, up 0.9 pct

The company reported second-quarter results that beat expectations. [ID:nN2888439]