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NEW YORK, July 12- The enduring popularity of menthol may be a big motivator behind Reynolds American Inc's interest in buying smaller rival Lorillard Inc, which has the best-selling U.S. cigarette brand with the additive.
WASHINGTON— Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell. Tobacco firms Reynolds, Lorillard in merger talks. RICHMOND, Va.— Big Tobacco may soon get smaller.
NEW YORK— Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:. MGIC Investment Corp., down 88 cents to $8.36. ChannelAdvisor Corp., up $1.06 to $24.22.
The stock market stabilized on Friday, booking a small gain, but it wasn't enough to prevent the biggest weekly drop since early April. Tobacco company Lorillard was among the biggest gainers in the Standard& Poor's 500 index after rival Reynolds America said it was in talks to acquire the company.
BRUSSELS/ MOSCOW- The European Union seeks to reassure Russia that a free-trade pact with Ukraine is not aimed at hurting Moscow, but rejects calls to postpone implementation, offering more talks instead.
*Wells Fargo falls, more banks' earnings due next week. Shares of Wells Fargo& Co., down 0.5 percent at $51.54, were in the spotlight as the biggest U.S. mortgage lender was the first major U.S. bank to report earnings. Wells Fargo's results will be followed next week by earnings from Citigroup, Goldman Sachs, JPMorgan Chase and Bank of America.
NEW YORK— A look at the 10 biggest percentage gainers on New York Stock Exchange at 1 p.m.:. Doral Financial rose 8.0 percent to $5.63. Transcontinental Realty Investors Inc. rose 7.3 percent to $13.43.
Cigarette makers Reynolds American Inc. and Lorillard Inc. on Friday said they are in talks of a possible merger that would combine two of the nation's oldest and biggest tobacco companies.
*Reynolds, Lorillard marriage seen making $500 mln savings. LONDON, July 11- U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would reshape one of the world's biggest and most profitable tobacco markets, the companies said on Friday.
*Wells Fargo falls, but revenue tops forecasts. Wells Fargo& Co reported revenue that beat expectations, though for the first time since 2009, the bank did not increase its earnings-per-share from the preceding quarter. Fastenal Co slumped 4.6 percent to $45.92 after revenue missed expectations.
NEW YORK— U.S. stocks stabilized and ended with a small gain Friday, but it wasn't enough to prevent the market's biggest weekly drop since April. As investors try to make sense of the market, "we could be in a holding pattern," said Kristina Hooper, US Investment Strategist at Allianz Global Investors. Its weekly decline of 0.9 percent was the biggest since April 11.
*Lorillard market value is $22.9 bln. LONDON, July 11- U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would include the sale of some brands to Britain's Imperial Tobacco Group Plc, the companies said on Friday.
Some of the names on the move ahead of the open.
A deal between Reynolds American Inc. and Lorillard Inc. would create a formidable No. 2 to rival Altria Group Inc., owner of Philip Morris USA. The merger would be "very positive for the global tobacco industry and could be just the beginning of future transactions," Wells Fargo Securities analyst Bonnie Herzog wrote in an investor note.
RICHMOND, Va.— Imperial Tobacco Group PLC says it's in discussions with U.S. cigarette makers Reynolds American Inc. and Lorillard Inc. to acquire some of their brands and assets amid talks of a possible merger.
*Reynolds, Lorillard not available to comment. LONDON, July 11- U.S cigarette makers Reynolds American Inc and Lorillard Inc are in talks on a possible multi-billion dollar disposal to Britain's Imperial Tobacco Group Plc, as part of efforts to ease antitrust concerns over their planned merger.
LONDON, July 11- European stocks opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight on concerns about Portugal's banking sector that highlighted contagion risk in the euro zone.
Reynolds American and Lorillard are agreeing a complex merger that will reshape Big Tobacco, bringing together the two biggest US operators.
LONDON, July 11- Imperial Tobacco, the world's fourth-largest tobacco group, said on Friday it was in talks with Reynolds and Lorillard to acquire certain assets and brands that could be sold by the two companies. Reynolds and Lorillard are in advanced talks about a deal that would merge the No.2 and No.3 U.S. cigarette makers, Reuters has previously reported.
LONDON, July 11- Imperial Tobacco, the world's fourth-largest tobacco group, said on Friday it was in talks with Reynolds and Lorillard to acquire certain assets and brands that could be sold by the two groups. "Imperial would proceed with an acquisition only if its terms met strict transaction criteria," it said.