STOCKS NEWS US-Medtronic rallies after comments by researchers

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1107 EST 15March2010
Medtronic rallies after comments by researchers

A noninvasive procedure that freezes and kills problem-causing heart tissue was nearly 10 times better at eliminating a potentially serious heart rhythm disorder than conventional anti-arrhythmic drugs, researchers said on Monday.

The clinical trial of Medtronic Inc's cryoablation system looked at 245 patients with paroxysmal atrial fibrillation, a condition marked by intermittent episodes abnormal heart rhythm that cause the upper chambers of the heart to quiver. For details, see

Shares of Medtronic rose 3.3 percent to $45.38.

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1103 EST 15March2010
OPEC to urge compliance, keep target steady

OPEC ministers ahead of their meeting on March 17 say there is no need to change output targets with oil prices above their preferred range, but soft demand is prompting calls to curb overproduction.

'In my opinion, I don't think we are going to see any change, even though inventories are high,' Qatar's Oil Minister Abdullah al-Attiyah told Reuters by telephone on Monday.

'The oil price and fluctuation is one of the many reasons that would lead to a rollover in supply targets.'

For details, see

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1100 EST 15March2010
Petrohawk to sell Louisiana asset for $320 mln

Petrohawk Energy Corp said it agreed to sell its interest in Terryville Field, Louisiana, to a private company for $320 million.

The sale is the second of the four asset packages the company expects to sell in 2010.

For details, see

The stock fell 2 percent to $21.75.

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1052 EST 15March2010
Pegasystems to buy Chordiant for $162 mln

Chordiant Software Inc agreed to be acquired by software maker Pegasystems Inc in a deal worth $161.5 million in cash, the companies said.

The $5-per-share deal is at a premium of 31 percent to Chordiant stock's closing price Friday.

For details, see

Shares of Chordiant surged 30 percent to $4.97 while Pegasystems gained 6.2 percent to $39.10.

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1042 ET 15Mar2010 Susquehanna suggests Retail ETF put spread

Investors should consider a June $39/$35 put spread in the SPDR S&P Retail Fund as a way to protect recent gains in the coming months, said Susquehanna Financial Group (SFG) in a report. In light of a flurry of protective trading across many broad-based and sector products in recent sessions, SFG highlights protection in the retail sector (XRT) given its recent outperformance. The vertical put spread, buying the $39 puts vs. selling the $35 puts, minimizes the cost of protection and volatility exposure and offers an alternative to outright puts. The $39 puts would fetch $1.50 based on Friday's closing offer and the put spread was setting up for 95 cents. The XRT is up more than 16 percent since Feb. 8 vs. the SPDR S&P 500 ETF which is up 9 percent over the same period. The XRT 90-day implied volatility is near its lowest levels of the last two years. The ETF has also benefited from a decrease in correlations, both implied and realized, within the group, the report said.

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