Iberdrola closes 3.4 bln euro cap hike placement

(Reuters) - A source close to the process had said Iberdrola would place
the shares at between 39.70 and 40.00 euros a share.




Read more at Reuters.com Mergers News

UPDATE 2-US home loan demand drops 2nd week to 4-month low

(Reuters) - The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both refinancing and purchasing loans, for the week ended June 22 fell 3.9 percent to 618.6 -- its lowest in four months.




Applications, however, were 16.8 percent above their year-ago level. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was down 0.7 percent.


Read more at Reuters.com Economic News

UPDATE1-Herley's two facilities suspended from federal contracts

(Reuters) - Shares of Herley, which designs and develops microwave
technology, were down more than 13 percent to $15.42 in morning
trade Wednesday on the Nasdaq.




The suspension arises out of certain discrepancies in the
test data for some equipment manufactured by Herley at its
Lancaster facility, the company said.


Read more at Reuters.com Government Filings News

Northwest Airlines shares fall after cancellations

(Reuters) - On average from Friday to Monday, Northwest canceled 10.7 percent of mainline flights, according to a statement released by the airline on Tuesday. In May, Northwest completed 99.1 percent of its scheduled mainline flights.




The No. 5 U.S. airline blamed the cancellations on air traffic control restrictions, severe summer weather and a high level of pilot absenteeism.


Read more at Reuters.com Hot Stocks News

Brazil's Real Erases Losses as Lower U.S. Treasury Yields Increase Demand

(Bloomberg) -- Brazil's currency was little changed,
erasing earlier losses, as declines in U.S. Treasury yields
helped lure some investors to the higher returns offered by the
country's debt.

U.S. stocks pared losses, which also helped spark demand for
riskier emerging-market assets, said Rodrigo Ferreira, a fixed-
income trader at Banco Alfa de Investimento in Sao Paulo.


Read more at Bloomberg Currencies News

Chittenden, H&R Block, Nuvelo, Spectra, SurModics: 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 10:10 a.m. New York time.

Oil Refiners: Citigroup Global Markets Inc. downgraded
shares of Valero Energy Corp. (VLO US), the largest U.S. refiner,
and Tesoro Corp. (TSO US), the largest refiner in the U.S. West,
to ``sell'' from ``hold'' because of valuations. Sunoco Inc. (SUN
US), the biggest refiner in the Northwest, was cut to ``hold''
from ``buy.'' Valero fell $2.61, or 3.5 percent, to $72.05.
Sunoco lost $3.56 to $76.77 and Tesoro retreated $2.80 to $55.11.


Read more at Bloomberg Stocks News

AT&T Embrace of IPhone Threatens to Torpedo Sprint's Recovery, Share Price

(Bloomberg) -- Cary Fabrikant's devotion to Apple
Inc. spells trouble for his cellular carrier, Sprint Nextel Corp.

Fabrikant, a Miami sports agent, plans to forfeit $200 and
switch to AT&T Inc. to get an iPhone, Apple's blend of an iPod
music player with a mobile phone, when it goes on sale June 29.


Read more at Bloomberg Exclusive News