STOCKS NEWS US-U.S. earnings diary for July 2

Stocks on the move [HOT-RTRS]

Real-time Equity news [U][E][RESF/US]

For U.S. stock market report double-click [.N]
1755 ET 01July2009-U.S. earnings diary for July 2
------------------------------------------------------------------------------

The day's earnings calendar includes quarterly results from Acuity Brands
Inc (AYI.N).

For more please double click [RESF/US]

Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1753 ET 01July2009-U.S. economic diary for July 2
------------------------------------------------------------------------------

The day's economic agenda includes data on monthly employment and factory
orders.

For more please double click [ECI/US]

Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1633 ET 01July2009-US STOCKS-Wall St rises on recovery hope; jobs data eyed
------------------------------------------------------------------------------

U.S. stocks rose on Wednesday, the start of the third quarter, as
reassuring manufacturing data from China, Europe and the United States
reinforced hopes that the world's economy is on the road to recovery.

For more please double click [ID:nN01523702]

Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1510 ET 01July2009-Gov declares fiscal emergency in California
------------------------------------------------------------------------------

California Gov. Arnold Schwarzenegger declared a fiscal emergency on
Wednesday for the government of the most populous U.S. state to force lawmakers
into a special session to tackle a $24.3 billion state budget gap.
[ID:nN01510100]

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1426 ET 01July2009-OPEC unlikely to hike output in Sept-Kuwait
------------------------------------------------------------------------------

OPEC is unlikely to raise oil output when its ministers meet in September as
the oil market is still oversupplied, Kuwait's oil minister said on Wednesday.

"I doubt there will be a further increase in production," Sheikh Ahmad
al-Abdullah al-Sabah told reporters at parliament when asked for comment about
similar views by fellow OPEC members about the September meeting.

The minister said demand was still less than supply.

For details, see [ID:nL1593318]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1325 ET 01July2009-Immersion to start probe, shares sink
------------------------------------------------------------------------------

Shares of Immersion Corp (IMMR.O) tumbled on Wednesday after the company
said it was conducting an internal investigation into certain previous revenue
transactions in its medical business.

"As a result of this investigation, Immersion may discover information that
could raise issues with respect to its previously-reported financial
information, which could be material," the company said.

For details, see [ID:nBNG520039]

The stock dropped 22 percent to $3.86.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1321 ET 01July2009-Ford sales drop 10.9 pct in June
------------------------------------------------------------------------------

Ford Motor Co (F.N) said on Wednesday that U.S. sales fell 10.9 percent in
June for all of its brands, at the top of its expectations.

The automaker had expected to post a sales decline in the 10 to 20 percent
range in June. It also expects U.S. auto industry sales to be down in the 25 to
30 percent range.

For details, see [ID:nN01510786]

Shares of Ford rose 0.7 percent to $6.11.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1312 01July2009-Traders become bullish on Elan, calls heat up
------------------------------------------------------------------------------

Option traders have turned optimistic on Elan Corp (ELN.I) (ELN.N) after
the Irish drugmaker said it will benefit from the Biogen-Acorda deal. Elan
shares jumped 7.85 percent to $6.87. Players in the July and August contracts
were seen scooping up calls expecting continued bullish movement in the stock,
said Andrew Wilkinson, analyst at Interactive Brokers Group. The July $7 strike
had 1,000 calls bought for an average 40-cent premium and 10,000 calls were
picked up at the Aug $7 strike for about 75 cents. Elan said it is set to
receive 7 percent of the upfront and milestone payments allocated to Acorda
Therapeutics by Biogen Idec for its role in manufacturing experimental multiple
sclerosis drug, Fampridine-SR. The Sunday Times newspaper this week said Swiss
drugmaker Novartis is in talks to buy parts of Elan. Elan, which hired
Citigroup in January to conduct a review of the business, said on June 10 it
expected to conclude a strategic transaction "in the near term", after talking
over the past few months with a number of the global players in pharmaceuticals
and biotechnology.

Reuters Messaging: doris.frankel.reuters.com@reuters.net