STOCKS NEWS US-CF Industries rejects Agrium proposal

Stocks on the move Real-time Equity news U.S. stock market report 0857 EST 06Nov2009-CF Industries rejects Agrium proposal ------------------------------------------------------------------------------ CF Industries said on Friday its board rejected rival Agrium Inc's sweetened bid worth about $4.5 billion, arguing the proposal substantially undervalues the company. CF has been fending-off Agrium's hostile bid since February, as it pursues its own hostile bid for smaller U.S. rival Terra Industries. For details, see Shares of CF fell 1.1 percent to $79 in premarket trading while U.S.-listed shares of Agrium closed Thursday at $49.81. Terra shares closed Thursday at $36. Reuters Messaging: [e-mail] 0841 EST 06Nov2009-Oct payrolls fall 190,000, jobless rate 10.2 pct ------------------------------------------------------------------------------ U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years. Analysts polled by Reuters had expected payrolls to drop by 175,000 and the jobless rate to edge up to 9.9 percent from 9.8 percent in September. For details, see Following the release of the data, futures turned negative. Dow Jones industrial average futures fell 36 points while S&P 500 futures slid 5.2 points and Nasdaq 100 futures lost 6 points. Reuters Messaging: [e-mail] 0821 EST 06Nov2009-Bernstein upgrades GE to "outperform" ------------------------------------------------------------------------------ Shares of General Electric Co rose in premarket trading on Friday, after Bernstein upgraded the company to "outperform" from "market perform." The firm also lifted its price target on the Dow component by $1 to $19. "In our view, the risk/reward balance has improved enough to warrant a more positive stance," the firm wrote to clients. "We believe the risk GE Capital poses is reduced, 2010 earnings achievability is high, and there is more upside across the company into 2011." Shares of GE gained 3.5 percent to $14.93 before the bell. Reuters Messaging: [e-mail] 0816 EST 06Nov2009-Halliburton wins Saudi Aramco South Ghawar pact ------------------------------------------------------------------------------ Halliburton Co was awarded a broad five-year oilfield service contract from Saudi Aramco to develop wells in the South Ghawar field, the world's largest oil field, the company said on Friday. Halliburton did not release financial terms of the deal, which includes an option for a five-year extension. For details, see Shares of Halliburton closed Thursday at $30.55. Reuters Messaging: [e-mail] 0743 EST 06Nov2009-State Street adds $250 mln to legal fund ------------------------------------------------------------------------------ State Street Corp set aside an additional $250 million to cover claims by investors who lost money on risky mortgages, after using up more than two-thirds of a $625 million legal reserve it had set up in 2007. The company also reduced its previously reported third-quarter results to reflect the larger reserve. It now says quarterly profit was $327 million, or 66 cents per share, compared with a previously reported $516 million, or $1.04. It also revised its return on equity to 10.2 percent from 16 percent. For details, see Shares fell 1.2 percent to $42.32 in premnarket trade. Reuters Messaging: [e-mail] 0741 EST 06Nov2009-OECD Sept outlook shows strong recovery signs ------------------------------------------------------------------------------ Signs of improvement have emerged in most major economies, with a marked recovery in the United States and Japan and strong pointers to growth in several European economies and China, the OECD said on Friday. The Paris-based Organization for Economic Cooperation and Development said its composite leading indicator for the 29-member OECD area rose to 100.6 in September from 99.3 in August. The August figure was previously given as 99.2. For details, see Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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