STOCKS NEWS US-Deere: more workers than expected took buyout

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1005 ET 30June2009-Deere: more workers than expected took buyout
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Deere & Co (DE.N) on Tuesday said that about 800 employees, more than had
been expected, took a buyout from the company, raising the amount of the charge
associated with the departures.

The Moline, Illinois-based company now expects to record a pretax charge of
$100 million, primarily in its fourth fiscal quarter, which ends in October.
With it announced the planned job cuts in April, it forecast that 200 salaried
employees would leave, leading to a $25 million pretax charge. In May, when it
reported second fiscal quarter earnings, Deere raised that forecast amount to
$50 million.

For details, see [ID:nN30431947]

Shares fell 2 percent to $41.31.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1001 ET 30June2009-Consumer confidence slides in June: Conf Board
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U.S. consumer confidence fell in June after two straight months of gains.

The Conference Board, an industry group, said on Tuesday its index of
consumer attitudes dropped to 49.3 from 54.8 in May. The Present Situation
Index slid to 24.8 from 29.7.

For details, see [ID:nN30263841]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0954 ET 30June2009-Midwest business activity less weak in June
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Business activity in the U.S. Midwest contracted again in June but at a
slightly less severe rate than expected, a report showed on Tuesday.

The Institute for Supply Management-Chicago business barometer rose to 39.3
from 34.9 in May.

Economists had forecast the index at 39.0. A reading below 50 indicates
contraction in the regional economy.

For details, see [ID:nN3078228]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0942 ET 30June2009-Broadcom raises tender offer for Emulex
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Broadcom Corp (BRCM.O) late Monday raised its cash tender offer for storage
technology company Emulex Corp (ELX.N) to $912 million and changed the tenor of
its previously hostile takeover bid in what it called a final effort to engage
Emulex's board.

Broadcom boosted its cash bid to $11 a share from $9.25 and said it would
extend its tender offer as required for an additional 10 business days to July
14.

The wireless chipmaker said it was the best offer it planned to make, and
urged Emulex to support a friendly, negotiated deal.

For details, see [ID:nN29409334]

Shares of Broadcom rose 1.7 percent to $25.36 while Emulex shares slid 4.6
percent to $10.38.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0930 ET 30June2009-Markets open modestly higher after data
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Major U.S. indexes opened flat on Tuesday, the last day of the quarter,
after data showed April home prices slid less than expected in April.

The Dow Jones industrial average .DJI rose 0.1 percent to 8,533.23 while
the S&P 500 .SPX was flat at 926.95 and the Nasdaq .IXIC was up 0.1 percent
to 1,845.59.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0915 ET 30June2009-GE joins up with Geron on stem cell research
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General Electric Co (GE.N) is joining forces with U.S. biotech company
Geron Corp (GERN.O) to develop products from human embryonic stem cells that
could be used to develop and test new drugs.

GE and Geron said their research would use batches of stem cell listed on a
National Institutes of Health registry, which would make the work eligible for
U.S. funding.

"This agreement marks a further step in GE Healthcare's cell technology
strategy aimed at addressing the potential of stem cell applications in the
drug discovery and therapy markets," said Konstantin Fiedler, general manager
of cell technologies at GE Healthcare.

For details, see [ID:nBNG514055]

Shares of GE, a Dow component, rose 0.6 percent to $11.83 while Geron
surged 17 percent to $7.80 before the bell.

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