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U.S. stock market report 0734 ET 11Aug2009-Wimm-Bill-Dann to repurchase more shares ------------------------------------------------------------------------------

A board member of Russian dairy and juice maker Wimm-Bill-Dann said on Tuesday that it will continue its share buyback programme by purchasing up to 3 percent of its shares if the market price is favourable.

In June, the company said that it had bought back between 3.2 percent and 3.6 percent with the aim of supporting its share price.

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Shares of the company closed Monday at $62.75.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0726 ET 11Aug2009-Pershing Square cuts stake in Target ------------------------------------------------------------------------------

Pershing Square Capital Management, whose manager William Ackman lost a heated proxy contest to elect new directors to Target Corp's board earlier this year, cut its ownership stake in the retailer to 4.4 percent from 7.8 percent.

The overall stake of 4.4 percent consists of 3.5 percent in shares of common stock and 0.9 percent in stock-settled call options, Pershing Square said in the regulatory filing.

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Shares of Target closed Monday at $41.98.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0722 ET 11Aug2009-SEC investigates Huron for accounting errors ------------------------------------------------------------------------------

Huron Consulting Group Inc on Tuesday said it is being investigated by the U.S. Securities and Exchange Commission for acquisition-related payments and will delay filing its latest quarterly report.

It intends to file its quarterly report for the three months ended June 30, as well as the restated results of the prior periods, as soon as possible.

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Shares of Huron closed Monday at $13.54.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0719 ET 11Aug2009-Value of distressed-debt deals soar from 08: WSJ ------------------------------------------------------------------------------

The total value of distressed-debt deals, where creditors use their debt positions to take ownership of troubled companies, has touched $84.4 billion this year, the Wall Street Journal said, at a pace close to double that of 2008.

The newspaper, citing data compiled by data provider Dealogic, said 140 distressed-debt deals have been struck during 2009, compared with 102 for all of 2008.

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Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0714 ET 11Aug2009-Avanir drug meets goal of late-stage study ------------------------------------------------------------------------------

Avanir Pharmaceuticals Inc on Tuesday said a reformulated version of its Zenvia drug reduced emotional outbursts tied to a little-known neurological disorder, meeting the main goal of a late-stage study and breathing new life into the tiny company.

The positive results in the STAR clinical trial come nearly three years after the U.S. Food and Drug Administration dealt Avanir a blow by expressing safety concerns and asked the company to perform new trials with a reformulated version of Zenvia.

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Shares of the company soared 101 percent to $4.40 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0709 ET 11Aug2009-Baird raises price target on JPMorgan Chase ------------------------------------------------------------------------------

Robert W. Baird on Tuesday raised its price target on JPMorgan Chase & Co to $50 from $42, saying the bank was likely to be the first to achieve normalized earnings.

It also said JPMorgan would likely be among the first in the group to raise its dividend or repurchase stock.

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Shares of JPMorgan, a Dow component, closed Monday at $42.69.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0706 ET 11Aug2009-Crude oil edges higher on fuel imports ------------------------------------------------------------------------------

September crude futures edged higher on Tuesday, spurred by record fuel imports to the world's second-biggest energy user China, but the market was cautious ahead of the next set of supply and demand data.

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The contract gained 0.2 percent to $70.75 per barrel.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0703 ET 11Aug2009-Home prices fall, but rate slows: Zillow.com ------------------------------------------------------------------------------

The value of U.S. homes fell by 12.1 percent in the second quarter from a year earlier, but the rate of decline shrank for the first time since prices began to fall in 2007, real estate website Zillow.com said on Tuesday.

Even so, stabilization of the hard-hit housing market, which is seen as key to an economic recovery in the United States, is not yet in view, with mounting foreclosures and a high level of "underwater" mortgages still posing threats, Zillow said.

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Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0659 ET 11Aug2009-Cumberland IPO priced below expected range ------------------------------------------------------------------------------

Cumberland Pharmaceuticals Inc late Monday priced its initial public offering below the estimate range, but broke a nearly two-year drought for IPOs in the pharmaceutical sector.

The company priced its shares at $17 apiece, raising $85 million. It had expected shares to price between $19 and $21 each.

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Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0654 ET 11Aug2009-Economic indicators for Aug. 11 ------------------------------------------------------------------------------

Economic indicators on tap for Tuesday include weekly ICSC chain store data, Redbook data, and the ABC consumer confidence index; wholesale inventory and sales data for June; the August IBD economic optimism figure and preliminary second-quarter labor costs and productivity data.

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Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0649 ET 11Aug2009-Earnings diary for Aug. 11 ------------------------------------------------------------------------------

Companies scheduled to report quarterly results on Tuesday include: Applied Materials, American Medical Alert, Clearwire Corp, Intelligent Systems, MCF Corp, Neoprobe and HearUsa , among others.

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Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS

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