STOCKS NEWS US-Citigroup cancels order for $50 mln plane

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]

U.S. stock market report [.N]
1212 ET 27Jan2009-Citigroup cancels order for $50 mln plane
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Troubled bank Citigroup (C.N) on Tuesday said it canceled plans to buy a
$50 million executive jet, after politicians criticized the purchase as
wasteful. The jet was first ordered in 2005. The bank planned to take delivery
later this year. The purchase was to be funded by selling older jets, the bank
said. [ID:nN27392965]

Citigroup received $45 billion from the U.S. government last year.

Shares of Citigroup, a Dow component, rose 3.3 percent to $3.44 on
Tuesday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1205 ET 27Jan2009-Senate extends digital TV deadline, media co's up
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Shares of media companies Walt Disney (DIS.N), Time Warner (TWX.N) and CBS
Corp (CBS.N) rose on Tuesday, after the U.S. Senate passed a bill to delay a
nationwide switch to digital television signals by about four months.

The transition date was moved to June 12 from Feb. 17 on concerns that
viewers weren't technically ready for the switch-over. [ID:nN26414807]

Time Warner shares gained 4.5 percent to $9.96 on Tuesday while Dow
component Disney was up 2.1 percent to $21.29. Disney owns the ABC television
network. CBS Corp (CBS.N) was up nearly 2 percent to $6.24.

The bill was passed late Monday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1130 ET 27Jan2009-CV Therapeutics up after buyout offer
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Shares of CV Therapeutics CVTX.O soared on Tuesday after Japanese drug
maker Astellas offered to buy the company for $1 billion, or $16 a share. The
offer represents a premium of 41 percent to the company's Monday closing price
of $11.35.

CV Therapeutics previously rejected an offer from Astellas. Eric Schmidt,
an analyst at Cowen & Co, said that in going public, "Astellas is being quite
aggressive and suggests they would be willing to go to a higher price. The
question is whether any other company will emerge to bid." [ID:nN27436060]

Shares of CV surged 42 percent to $16.12 on Tuesday.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1112 ET 27Jan2009-Citi sees potential for bottom for chip stocks
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Citi on Tuesday said there was potential for a bottom in the semiconductor
sector, adding that this potential supported a case for a rally in the group.

The firm said there were four factors giving it a positive stance on the
sector, including an under-shipping of demand, production cuts, end-market
inventories being brought under control quickly and more realistic earning
estimates from analysts.

The firm said that in the group, it favored companies with strong balance
sheets, nimble product portfolios and that were in a strong competitive
position, naming Intel (INTC.O), Qualcomm (QCOM.O), Altera Corp (ALTR.O) and
Nvidia Corp (NVDA.O).

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1104 ET 27Jan2009-Markets gain after NY Fed names Dudley president
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Major U.S. indexes rose slightly on Tuesday, gaining after the New York Fed
named William Dudley, its chief trader, its new president. Dudley succeeds
Timothy Geithner, who on Monday was confirmed as Treasury Secretary.
[ID:nNAT004727]

The Dow Jones industrial average .DJI rose 0.1 percent to 8,125.99 while
the S&P 500 .SPX gained 0.4 percent to 839.87 and the Nasdaq .IXIC was up
0.5 percent to 1,496.74.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1049 ET 27Jan2009-Markets flat as investors weigh data, earnings
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Major U.S. indices were flat on Tuesday, paring early gains as some strong
earnings reports, including from American Express (AXP.N), U.S. Steel (X.N) and
Bristol-Myers Squibb (BMY.N), were partially overshadowed by a record low in
consumer confidence. [ID:nN27261613]

The Dow Jones industrial average .DJI fell 0.08 percent to 8,109, while
the S&P 500 .SPX was up 0.21 percent to 838 and the Nasdaq .IXIC was up
0.31 percent to 1,494.

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