STOCKS NEWS US-M. Stanley announces equity offering, shares down
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For U.S. stock market report double-click [.N] 0722 ET 02June2009-Morgan Stanley announces equity offering, shares down ------------------------------------------------------------------------------
Morgan Stanley (MS.N) on Tuesday announced a $2.2 billion public offering of common equity in order to satisfy a condition to redeem TARP preferred capital.
The company expects the redemption before the end of June.
For details, see [ID:nWNAB5513]
Shares fell 3 percent to $28.99 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0716 ET 02June2009-Cameron to buy NATCO Group in $780 mln deal ------------------------------------------------------------------------------
Cameron International (CAM.N) late Monday said it would buy NATCO Group NTG.N in an all-stock deal that values NATCO for $780 million.
Under the terms of the agreement, NATCO shareholders will receive 1.185 shares of Cameron common stock for each of NATCO's outstanding shares. Cameron will issue around 24 million shares of common stock to NATCO shareholders and said the deal should add to earnings in 2010.
For details, see [ID:nN0121780]
Shares of NATCO rose 3.1 percent to $32 in premarket trading while Cameron closed Monday at $32.45.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0708 ET 02June2009-JPMorgan, AmEx to sell shares to repay TARP ------------------------------------------------------------------------------
Both JPMorgan Chase (JPM.N) and American Express (AXP.N) both said late Tuesday that they would be selling stock in a move to repay funds from the government's bank bailout fund.
JPMorgan will sell $5 billion of stock while AmEx will sell $500 million. JPMorgan's offering will be priced Tuesday morning.
For details, see [ID:nN01465721]
Shares of American Express fell 2.8 percent to $25.25 in premarket trading while JPMorgan was down 0.9 percent to $35.80.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0705 ET 02June2009-Economic indicators for June 2 ------------------------------------------------------------------------------
Economic indicators on tap for Tuesday include weekly ICSC chain store and Redbook data, pending home sales data for April, May vehicle sales and the weekly ABC consumer confidence index.
For details see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0658 ET 02June2009-Earnings diary for June 2 ------------------------------------------------------------------------------
Companies scheduled to report quarterly results on Tuesday include: Hovnanian Enterprises (HOV.N), VeriFone Holdings (PAY.N), Financial Federal Corp (FIF.N), H.H. Gregg Appliances (HGG.N) and Modine Manufacturing (MOD.N), among others.
For details, see [RESF/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
