STOCKS NEWS US-Prospect Capital starts offering, stock falls

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1009 ET 30June2009-Prospect Capital starts offering, stock
falls
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Shares of Prospect Capital Corp (PSEC.O) fell on Tuesday,
dropping after the company began a public offering of 4 million
shares.

The offering, its third in as many months, will have a
30-day option for underwriters to purchase up to an additional
600,000 shares to cover over-allotments, the business
development company said.

For details, see [ID:nBNG491809]

The stock slid 6.1 percent to $9.32.

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