Freddie Mac sells $3.5 bln in bills

(Reuters) - The six-month bills were priced at 97. 4459 and have a
money market yield of 5.213 percent.




Settlement is July 3


Read more at Reuters.com Bonds News

Penn Virginia acquires two coal reserves

(Reuters) - The company said it funded the acquisitions using its
credit facility.





Read more at Reuters.com Mergers News

UPDATE 1-Sunstone Hotel sells six non-core hotels for $150.5 mln

(Reuters) - Net proceeds of about $141 million from the sale will be
used to repay debt, the Southern California-based lodging real
estate investment trust said in a statement.




The sold hotels are Hilton Garden Inn , Courtyard and Residence Inn , Courtyard , Residence Inn
and Hawthorn Suites .


Read more at Reuters.com Mergers News

Gramercy Capital to sell stake in JV to SL Green

(Reuters) - Separately, Gramercy said it has agreed to modify its $900
million secured repurchase facility with Wachovia Securities
LLC and Goldman Sachs Mortgage Co.





Read more at Reuters.com Mergers News

UPDATE 1-Biogen signs deal to develop electrolyte drug

(Reuters) - Cambridge, Massachusetts-based Biogen said the drug,
lixivaptan, is an oral compound expected to enter a late-stage,
or Phase III, clinical trial this year in heart patients with
hyponatremia, a condition that occurs when the level of sodium
in the blood is too low.




Biogen will pay Philadelphia-based Cardiokine $50 million
up front and would make up to $170 million in additional
payments if and when certain development milestones were met,
as well as royalties on sales.


Read more at Reuters.com Mergers News

Manufacturing Growth in U.S. Accelerates to Highest in 14 Months on Orders

(Bloomberg) -- Manufacturing growth in the U.S.
accelerated last month to the highest level in 14 months,
boosted by an increase in production and new orders, an industry
report showed today.

The Institute for Supply Management's factory index rose to
56 from 55 in May. Readings greater than 50 signal expansion.


Read more at Bloomberg Currencies News

BCE, Dobson, Focus, InterOil, Theravance, Virgin Media: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:35 a.m. New York time.

BCE Inc. (BCE US) rose $1.28, or 3.4 percent, to $39.07.
Ontario Teachers' Pension Plan, which manages C$106 billion ($100
billion) for teachers in Canada's most populous province, agreed
June 30 to buy the country's biggest phone company for C$34.2
billion with investors including Providence Equity Partners Inc.
The value of the transaction with debt, preferred shares and
minority interests is C$51.7 billion.


Read more at Bloomberg Stocks News