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0734 ET 22June2009-Exxon near deal on potential LNG sales
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ExxonMobil (XOM.N), operator of a liquefied natural gas project in Papua
New Guinea, is nearing agreement on sales with three major buyers in Asia,
putting the project on track for a final investment decision later this year.
The sale of 4.3 million tonnes per annum (mtpa), plus an earlier 2 mtpa
deal, would mean the project was fully contracted for its proposed total
output, cementing its frontrunner status among a dozen competing LNG hopefuls
in the region.
For details, see [ID:nSYD476906]
Shares of the Dow component closed Friday at $71.05.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0730 ET 22June2009-Futures down as investors question recovery
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U.S. index futures were down on Monday, as as investors assessed the
potential strength of an economic recovery ahead of a round of key data this
week. Energy stocks were also pressured by a drop in the price of crude oil.
For details, see [ID:nN22430567]
Dow Jones industrial average futures DJc1 fell 50 points while S&P 500
futures SPc1 slid 8 points and Nasdaq 100 futures NDc1 were down 9 points.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0724 ET 22June2009-Barron's sees strong growth in LSI Corp
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Semiconductor maker LSI Corp (LSI.N) will likely grow faster than its
peers, and investors may be underestimating its earnings potential, Barron's
wrote in its June 22 issue.
The financial publication wrote that the company was set to grow over the
next few years, and quoted BlackRock Basic Value Fund manager Kevin Rendino as
saying its shares should command a multiple of at least 15 times, arriving at a
target price of $7.50.
For details, see [ID:nN21279891]
Shares gained 0.8 percent to $5 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0720 ET 22June2009-T-Mobile to sell new Google phone in August
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T-Mobile USA will begin selling a new smartphone using Google Android
operating software in August. The new phone, which will cost $199, was
described as a slimmer and more advanced version of the previous version.
The phone can also be personalized, such as with custom home screens and
widgets, T-Mobile said. The Android platform can also learn user preferences
and offer recommendations.
For details, see [ID:nN18408542]
Shares of Google closed Friday at $420.09.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0713 ET 22June2009-Blavatnik planning to sue JPMorgan Chase: NYT
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Billionaire Len Blavatnik is planning to file a lawsuit against JPMorgan
Chase (JPM.N), accusing the bank of mismanaging an investment account that held
$1 billion in assets owned by Blavatnik's industrial holding company, Access
Industries, according to a report in the New York Times.
In the proposed lawsuit, Blavatnik's lawyers blame Ted Ufferfilge, a
JPMorgan banker advising Access, for losing $98 million of the company's money
betting on risky subprime mortgage securities, according to the paper.
JPMorgan intends "to defend this matter vigorously", a spokeswoman for the
bank told the paper. "We believe this lawsuit is meritless and a transparent
attempt to recover losses resulting from the unprecedented market downturn,"
she told the paper.
For details, see [ID:nBNG439542]
Shares of JPMorgan, a Dow component, fell 0.5 percent to $34.84 in
premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0707 ET 22June2009-Barron's sees upside for Microsoft shares
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Financial publication Barron's sees upside for Microsoft Corp (MSFT.O)
shares, calling them "super cheap."
Barron's wrote that growth would be driven at the Dow component by new
software and its Bing search engine.
"With both Windows 7 and Bing, Microsoft for the first time in eons is
giving off the aura of a company that is innovating and listening to users.
That has helped the stock rebound more than 50 percent off the March low -- but
there should be plenty more to come," it wrote.
For details, see [ID:nN21198896]
Shares of Microsoft dropped 0.6 percent to $23.93 in premarket trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
