Stocks on the move [HOT-RTRS]
Real-time Equity news [U][E] [RESF/US]
For U.S. stock market report double-click [.N]
1430 ET 23June2009-Barclays upgrades Estee Lauder to 'equal
weight'
------------------------------------------------------------------------------
Shares of Estee Lauder (EL.N) rose on Tuesday, after the
cosmetics company was upgraded to "equal weight" from
"underweight" at Barclays Capital. The firm forecast consistent
organic sales trends, margin expansion and a more efficient
supply chain at the company over time.
"For the next several quarters, we think valuation will be
driven not by the company's current financial performance, but
rather by expectations for a gradual but meaningful operating
improvement further out," it wrote.
For details, see [ID:nBNG496266]
The stock rose 3.1 percent to $31.55 while Avon Products
Inc (AVP.N) slid 1.3 percent to $25.15 and Chattem Inc (CHTT.O)
was off 1.7 percent to $64.66.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1425 ET 23June2009-Lab Corp to buy Monogram for $106.7 million
------------------------------------------------------------------------------
Laboratory Corporation of America (LH.N) on Tuesday said it
would buy Monogram Biosciences Inc MGRM.O for about $106.7
million, or $4.55 per share of Monogram.
The per-share offer price represents a premium of about 170
per cent over the company's Monday closing price.
For details, see [ID:nN2319381]
Shares of Laboratory fell 1.1 percent to $64.97 while
Monograms shares soared 169 percent to $4.52.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net;
Editing by Kenneth Barry
1420 ET 23June2009-Justice Department not planning to drop UBS
case
------------------------------------------------------------------------------
The U.S. Justice Department on Tuesday said it wasn't
planning to drop its lawsuit seeking to force UBS AG (UBSN.VX)
(UBS.N) to disclose thousands of the Swiss bank's U.S.
customers with secret accounts. The comment followed a report
in the New York Times that said the lawsuit might be dropped.
A department spokesman said there was "no basis" for the
Times report.
"While the department is always willing to consider
settlement in any case, the suggestion that the department is
planning to drop this suit is simply untrue. The department is
continuing with the case against UBS and will file its brief
asking the court to enforce the summons on June 30," spokesman
Charles Miller said. [ID:nWEN0881]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1416 ET 23June2009-AT&T extends Alcatel deal, to sell Motorola
phone
------------------------------------------------------------------------------
AT&T Inc (T.N) on Tuesday said it extended a network
equipment supply agreement with Alcatel-Lucent (ALUA.PA) and
that it would soon start selling a cell phone from Motorola Inc
(MOT.N).
The communications giant will start selling Motorola's
Karma phone on June 28 for $79.99. The device is based on a
proprietary operating system from Motorola, which is struggling
to regain share in the cellphone market after years of
criticism of its phone line-up.
For details, see [ID:nN23469928]
Shares of AT&T, a Dow component, rose nearly 2 percent to
$24.62 on Tuesday while U.S.-listed shares of Motorola gained
3.5 percent to $6.24.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
