STOCKS NEWS US-Funds to bid for Citigroup's Bellsystem24

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0739 ET 12Aug2009
Funds to bid for Citigroup's Bellsystem24

Buyout funds including Permira and KKR have been told to submit their first bids by Sept. 1 for Citigroup Inc's Bellsystem24, a leading Japanese telemarketer, in a deal expected to be worth about $1.5 billion, sources familiar with the process said on Wednesday.

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Shares of Citigroup rose 1.9 percent to $3.76 in premarket trading.

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0729 ET 12Aug2009-Futures up after sell
off, focus on Fed statement

U.S. stock index futures edged up on Wednesday after a sell-off in the previous session, but investors shied away from big bets ahead of Federal Reserve statements on the state of the economy.

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Dow Jones industrial average futures rose 10 points while S&P 500 futures gained 0.8 points and Nasdaq 100 futures were up 1.25 points.

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0725 ET 12Aug2009
Journal Register emerges from Chapter 11

Journal Register Co which filed for Chapter 11 protection in February, on its website said that it emerged from bankruptcy.

The Yardley, Pennsylvania-based publisher said it closed on its exit financing consisting of $150 million from JPMorgan Chase & Co and $75 million from Wells Fargo & Co as well as a new credit agreement with Wachovia.

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0721 ET 12Aug2009
Toll Brothers says signed contracts rose in Q3

Toll Brothers Inc on Wednesday said it expects to report a 42 percent drop in third-quarter homebuilding revenue but said net signed contracts increased in the quarter.

The company said this was the first time in 16 quarters that net signed contracts exceeded the year-ago figures.

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Shares of Toll Brothers rose 6.6 percent to $21.83 in premarket trading.

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0719 ET 12Aug2009
Mortgage aps drop as loan rates rise

U.S. mortgage applications fell last week, reflecting a drop in demand for home refinancing loans as interest rates soared to their highest levels since June, data from an industry group showed on Wednesday.

Applications for loans to buy homes, an early indicator of sales, rose slightly. Tepid interest in purchase loans does not bode well for the hard-hit U.S. housing market, which has been showing signs of stabilization.

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0715 ET 12Aug2009
Starwood Property IPO priced at $20 per share

Starwood Property Trust Inc priced shares for $20 late Tuesday and twice boosted the number of shares offered in what is likely to emerge as the largest U.S. initial public stock offering of the year.

Starwood Property, a unit of private equity firm Starwood Capital Group, sold 40.5 million shares, raising $810 million, one of the deal's underwriters said. Earlier on Tuesday, Starwood had increased the number of shares to be sold in the IPO by 35 percent to 33.75 million.

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