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Company News for June 01, 2011

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•    Ship builder General Dynamics Corp.’s (NYSE:GD) share prices rose 4.15% to $74.22 after the company after it announced that it would receive an additional $744 million from the Defense Department which has expanded a preexisting contract

•    Analysts at Piper Jaffray (NYSE:PJC) raised the shares of Radian Group (NYSE:RDN) from "Neutral" rating to "Over Weight" rating

•    Broadcom Corporation (NASDAQ:BRCM) was upgraded by BMO Capital with an "Outperform" rating and a target price of $50

•    Share prices of software vendor Agilysys, Inc.’s (NASDAQ:AGYS) jumped 42.47% to $6.81 after the company announced plans to sell the technology solutions unit for $64 million

•    Motor oil maker Ashland Inc's (NYSE:ASH) share price increased 11.95% after the company said it will buy International Specialty Products Inc. in a deal worth $3.2 billion

•    Canadian utility Fortis Inc (CA:FTS) announced plans to buy electricity distributor Central Vermont Public Service Corp. (NYSE:CV) in a deal valued at $470 million

•    Chinese mobile-phone chain Funtalk China Holdings Ltd's (NASDAQ:FTLK) share prices rose 12.54% on news that the company would be acquired by Fortress Group Ltd

•    Chinese reverse-merger company Yongye International Inc (NASDAQ:YONG) announced a $50 million investment from Morgan Stanley’s (NYSE:MS) Asian private-equity unit

•    Dex One Corporation (NYSE:DEXO) announced that the company’s chief financial officer will leave the marketing service provider at the end of July

•    Finnish mobile company Nokia Corp's (NYSE:NOK) shares slid 14.39% after the company said profits from the devices & services business for the second quarter will be low because of under-par sales

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