STOCKS NEWS US-Congress approves legislation to spur auto sales

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0855 ET 10June2009-Congress approves legislation to spur auto sales
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The U.S. House of Representatives late Tuesday approved legislation
intended to spur auto sales by providing consumers with up to $4 billion in
cash vouchers to buy more fuel-efficient cars and trucks.

The bill would extend up to $4,500 for gas guzzler trade-ins. Supporters
tout the potential economic and environmental benefits of vehicles that require
less fuel and burn what they use more cleanly.

The move comes as the U.S. auto sector is pressured by the recession,
prompting a bankruptcy filing by General Motors GMGMQ.PK.

For details, see [ID:nN09403400]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0846 ET 10June2009-Jazz Pharma to present data, shares soar
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Shares of Jazz Pharmaceuticals (JAZZ.O) soared in premarket trading on
Wednesday, a day after it said it would present data from the first of two
late-stage trials of its experimental treatment for fibromyalgia, a chronic
pain syndrome.

In November, Jazz Pharma said its experimental treatment for fibromyalgia
met the main goal of reducing pain and fatigue in the first of two late-stage
trials.

The stock advanced 76 percent to $1.80 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0840 ET 10June2009-April trade gap widens on softening exports
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The U.S. trade gap widened to $29.2 billion in April as exports weakened
again in a reflection of waning global demand, a U.S. government report on
Wednesday showed.

Analysts were expecting the gap to be $29 billion in the month.

The Commerce Department said total exports fell 2.3 percent to $121.1
billion, the lowest level for foreign sales since mid-2006. Exports have
dropped in eight of the past nine months.

For details, see [ID:nN09390286]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0831 ET 10June2009-Citi begins $58 bln stock swap, shares rise
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Shares of Citigroup (C.N) rose in premarket trading on Wednesday, after the
company began a $58 billion stock swap that could leave the government with a
34 percent stake in the nation's third-largest bank.

The bank plans to swap common stock for as much as $33 billion of preferred
shares, and convert as much as $25 billion of preferred shares held by the U.S.
Treasury into common stock.

For details, see [ID:nN10429382]

Shares of Citigroup rose 3.8 percent to $3.54 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0823 ET 10June2009-Google nearing renewable energy goal: Weihl
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Google Inc (GOOG.O) is nearing its goal of producing renewable energy at a
price cheaper than coal, Bill Weihl said late Tuesday. Weihl is the company's
so-called green energy czar, who is the engineer in charge of the project.

The Internet search company in late 2007 said it would invest in companies
and do research of its own to produce affordable renewable energy -- at a price
less than burning coal -- within a few years.

In an interview with Reuters, Weihl said the United States needed to raise
government-backed research significantly and take much bigger risks if it wants
to make alternative energy mainstream.

For details, see [ID:nN09402273]

Shares of Google edged 0.6 percent higher to $438.25 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net