STOCKS NEWS US-Stifel upgrades PepsiCo, Pepsi Bottling

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1015 ET 29June2009-Stifel upgrades PepsiCo, Pepsi Bottling
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Stifel Nicolaus on Monday upgraded both PepsiCo (PEP.N) and Pepsi Bottling
Group (PBG.N) to buy from hold.

The firm cited valuation in its upgrade of Pepsi Bottling, and said that
PepsiCo shares were attractive whether or not it bought the outstanding shares
of Pepsi Bottling and PepsiAmericas (PAS.N) that it does not already own.

Earlier this month, PepsiCo hinted it could walk away from its proposed
takeover of Pepsi Bottling Group Inc (PBG.N), even as the bottler tried to make
its case for a higher bid.

For details, see [ID:nBNG497183]

Shares of PepsiCo rose 0.4 percent to $54.90 while Pepsi Bottling was up
0.2 percent to $33.68.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1002 ET 29June2009-Fox-Pitt lowers Q2 earnings view on JPMorgan
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Fox-Pitt on Monday lowered its second-quarter earnings outlook on JPMorgan
Chase & Co (JPM.N), forecasting net earnings of 17 cents a share. It previously
saw a net profit of 35 cents a share for the bank.

The firm said that the second half of 2009 "should be tougher on a core
basis" for the bank.

At the same time, Fox-Pitt narrowed its loss view on Citigroup (C.N),
citing better capital markets. The firm forecast a loss of 21 cents a share for
Citigroup in the quarter, compared with a previous estimate of a loss of 57
cents a share.

For details, see [ID:nWNAB2868]

Shares of JPMorgan, a Dow component, fell 0.8 percent to $34.18 while
Citigroup slid 0.9 percent to $3.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0953 ET 29June2009-Citi raises oil price outlook for 2009 and 2010
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Citigroup on Monday raised its average 2009 U.S. oil price outlook, lifting
it to $55.70 per barrel from $47.50 per barrel. The 2010 outlook was raised to
$60 per barrel from $50 per barrel.

Despite that, the firm expects prices to slid in the near-term.

"On the macro (side) we worry that inventory levels and weak medium-term
supply and demand fundamentals skew risk to the downside," it said.

For details, see [ID:nLT110571]

August crude futures rose 1.8 percent to $70.41 per barrel on Monday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0945 ET 29June2009-FBR downgrades Alcoa, aluminum index falls
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FBR on Monday downgraded Alcoa Inc (AA.N) to underperform from market
perform, saying recent advances in the share price "have more than adequately
priced in the potential improvements in aluminum fundamentals."

The firm lifted its price target on the Dow component to $8.50 from $8 "to
reflected higher commodity price assumptions," but also said that that aluminum
inventory could increase further, "thus dampening price recovery."
[ID:nWNAB2835]

Shares of Alcoa fell 4.4 percent to $10.29 while the Dow Jones U.S.
Aluminum index .DJUSAL lost 2.7 percent to 85.51. Among other aluminum
companies, Kaiser Aluminum (KALU.O) was off 0.6 percent to $36.28 while Century
Aluminum (CENX.O) shed 4.8 percent to $6.35.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0937 ET 29June2009-First American may buy rest of First Advantage
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First American Corp (FAF.N) offered on Monday to buy the 26 percent of
First Advantage Corp (FADV.O) that it does not already own for roughly $218
million of stock.

The transaction calls for First Advantage shareholders to receive 0.5375 of
a First American share for each of their shares. That values First Advantage at
$14.04, a 10.2 percent premium to the company's Friday closing price of $12.75
on the Nasdaq.

For details, see [ID:nN29377151]

Shares of First American fell 2.2 percent to $25.55 while First Advantage
surged 15.8 percent to $14.76.

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