Costco, Discover Financial, Local.com, SanDisk: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed on June 29. Stock symbols are in parentheses after company
names. Share prices are as of 7:30 a.m. in New York.

Apple Inc. (AAPL US) rose $1.36, or 1.1 percent, to $123.40
in trading before U.S. exchanges opened. The U.S. debut of the
iPhone drew thousands of shoppers over the weekend, emptying most
of AT&T Inc.'s (T US) inventory and causing network glitches as
the flood of customers began activating the device. Shoppers
bought as many as 500,000 units over the weekend, Piper Jaffray
analyst Gene Munster said, more than twice his projection of
200,000. JPMorgan analyst Bill Shope estimated sales were
312,000. Before the phone's debut, analysts expected Apple to
sell 50,000 to 200,000 units.


Read more at Bloomberg Stocks News

Thomson to sell Prometric to ETS for $435 mln

(Reuters) - The purchase price includes $310 million in cash and $125 million through a promissory note due in 2014.



The transaction is expected to close in the third quarter, the company said.


Read more at Reuters.com Mergers News

Bank of New York Mellon: Long name, big company

(Reuters) - "I say it was meant to be," Kelly said in an interview.
"The last few years, I've holidayed in Nevis, where Alexander
Hamilton was born. The second reason is that my initials are
the stock symbol ."




Bank of New York Mellon , a mouthful of a name,
announced the merger's completion on Monday, combining two
storied names in American finance. Coincidentally, both quit
branch banking this decade.


Read more at Reuters.com Mergers News

Dollar Drops to One-Month Low Against Euro on Outlook for Interest Rates

(Bloomberg) -- The dollar fell to the lowest level in
more than a month against the euro and dropped against the yen on
speculation the Federal Reserve will keep borrowing costs
unchanged while other central banks extend their increases.

Investors also sold the U.S. currency amid concern losses
from the subprime mortgage sector may weigh on the broader
economy, dimming the allure of dollar-denominated assets. Reports
this week are forecast to show U.S. job growth slowed last month
while a gauge of the service sector declined.


Read more at Bloomberg Currencies News

US STOCKS-Futures rise on telecoms takeovers, Apple gains

(Reuters) - NEW YORK, July 2 -U.S. stock index futures rose
on Monday, with takeover news in the telecommunications sector,
including a $48.5 billion buyout, likely to offset concern
about the subprime mortgage market.




Stocks will also get direction from a report on
manufacturing activity, which investors will scrutinize for
clues about the outlook for profits.


Read more at Reuters.com Bonds News

Rogers Says He's Sold `Over-Exploited' Emerging Markets, Apart From China

(Bloomberg) -- Emerging markets are a sell with the
exception of China, said Jim Rogers, the chairman of New York-
based Beeland Interests Inc.

``I've sold out of nearly all the emerging markets,''
Rogers said in an interview in Singapore today. ``Right now,
there are probably 10,000 young MBAs on airplanes flying around
from one emerging market to another, they're all over-exploited,
so I've sold out.''


Read more at Bloomberg Emerging Markets News

Japan Tobacco to Sell $1.2 Billion in Bonds to Help Fund Gallaher Purchase

(Bloomberg) -- Japan Tobacco Inc., the world's
third-largest traded cigarette maker, said it plans to sell
about 150 billion yen ($1.2 billion) of bonds to repay debt for
the purchase of Gallaher Group Plc.

Tokyo-based Japan Tobacco hired Daiwa Securities SMBC Co.
and Nomura Holdings Inc. to handle the sale, said Yukiko Seto, a
spokeswoman for Japan Tobacco. The company is aiming to price
the bonds this month, Seto said in a telephone interview.


Read more at Bloomberg Bonds News