STOCKS NEWS US-Encore to buy properties from EXCO Resources

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1151 ET 29June2009-Encore to buy properties from EXCO Resources
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Encore Acquisitions Co (EAC.N) on Monday said it would buy oil and gas
properties in the mid-continent and East Texas from EXCO Resources Inc (XCO.N)
for $375 million in cash.

Separately, oil and gas company Encore Energy Partners LP (ENP.N) said it
was buying properties in the Rockies and Permian basin from Encore Acquisition
for $190 million.

Encore Energy was formed by Encore Acquisition to acquire oil and gas
properties.

For details, see [ID:nBNG436410]

Shares of Encore Acquisitions rose 3.4 percent to $30.84 while EXCO
advanced 7.4 percent to $11.01 and Encore Energy dropped 7 percent to $14.46.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1148 ET June2009-Goldman Sachs ups Universal Amer, cuts Healthways
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Universal American Corp (UAM.N) shares rose while Healthways Inc slid on
Monday after Goldman Sachs offered differing views on the healthcare management
providers.

The firm upgraded Universal American to "neutral" from "sell," noting that
while it faces a tough Medicare Advantage environment and the challenge of
migrating the private fee-for-service plans, the valuation currently reflects
those challenges.

Healthways was downgraded to "sell" from "neutral" by the firm, which cited
several challenges, including potential in-sourcing risk from national health
plan clients, pricing pressure and selling challenges improved competition from
health care plans in disease management and wellness.

Universal American shares gained 9 percent to $8.70 while Healthways
slumped 8.8 percent to $13.23.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1143 ET 29June2009-Allis-Chalmers to buy senior notes, shares drop
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Shares of Allis-Chalmers Energy (ALY.N) tumbled on Monday after the company
said it would buy up to $74.8 million of its senior notes with funds from a
rights offering completed on Friday.

The oilfield services provider, which expects to prepay an additional $8
million to $10 million of other debt in the near future, said it will have
about $41 million of cash on hand and a fully available $90 million revolving
credit line.

For details, see [ID:nBNG495556]

The stock sank 15 percent to $2.69.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1132 ET 29June2009-S&P on track to have best quarter since Q4 1998
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The S&P 500 .SPX is on track to have its best quarter since the fourth
quarter of 1998.

Thus far in the quarter, the index is up 16.1 percent, its best performance
since the fourth quarter of 1998, when it gained 20.9 percent.

The S&P rose 0.9 percent to 926.94 on Monday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1124 ET 29June2009-Citi-Q2 profits may be small hurdle for investors
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Citigroup on Monday wrote that the second-quarter earnings season is
"likely to be less of a hurdle for investors" compared with the first quarter.
It argued that the second quarter "seems to reflect both an improved financing
environment for corporations and a lowering of expectations earlier in the
year."

The firm added that the focus may be more on outlooks for the second half
of the year.

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