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U.S. stock market report 1057 EST 10Nov2009-Lockhart: Fed may tighten even given employment ------------------------------------------------------------------------------

Dennis Lockhart, the president of the Atlanta Federal Reserve, on Tuesday said that there could be scenarios in which the Fed could tighten policy even with "frustratingly high" unemployment levels.

Last week, the Fed kept its benchmark interest rate near zero and outlined three economic conditions to watch, including resource utilization, inflation trends and inflation expectations.

Lockhart said that the economic conditions the Fed outlined last week for keeping interest rates low were not meant to be exhaustive.

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Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1039 EST 10Nov2009-Clearwire shares up, to raise more than $1.5 bln ------------------------------------------------------------------------------

Shares of Clearwire Corp rose on Tuesday after the company said it would raise $1.564 billion from current investors to help fund a high-speed wireless network.

Sprint Nextel, Clearwire's 51 percent owner, will contribute $1.176 billion, while Comcast Corp will invest another $196 million and Time Warner Cable will contribute $103 million. Intel Corp's contribution is $50 million, Clearwire said.

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Clearwire shares gained 6.3 percent to $7.24.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1031 EST 10Nov2009-NuStar shares fall after unit offering priced ------------------------------------------------------------------------------

Shares of NuStar Energy LP fell on Tuesday, after the company said a public offering of its common unit was priced at a 4.5 percent discount from Monday's closing price.

NuStar's 5 million common unit offering was priced at $52.45 per common unit, compared with the $54.94 closing price.

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The stock fell 4.3 percent to $52.59.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1014 ET 10Nov2009 Sprint puts become popular as shares fall ------------------------------------------------------------------------------

Sprint Nextel Corp shares fell 4.7 percent to $3.27 in morning trade and in the options market, the focus was on the November $3 puts. The top trade was 3,750 contracts traded at the offer for 7 cents on the Philadelphia Stock Exchange.

It appeared to be a buyer, said WhatsTrading.com option strategist Frederic Ruffy. The November $3 put strike was the most active option and attracted overall volume of 7,702 contracts, Trade Alert data show.

Sprint shares rallied late on Monday after the company announced it is starting the process of eliminating up to 2,500 or 6 percent of its workforce this quarter as part of an effort to shave at least $350 million off its annual expenses.

Its shares closed up 58 cents at $3.43 and options activity surged late with 36,000 calls and 6,132 puts traded.

Reuters Messaging: doris.frankel.reuters.com@reuters.net 1008 EST 10Nov2009-Avanir shares rally after positive Zenvia data ------------------------------------------------------------------------------

Shares of Avanir Pharmaceuticals Inc rose on Tuesday, after the company said final data from a late-stage trial of its experimental neurological disorder drug showed that it was safe, effective and well tolerated.

In the late-stage trial, named STAR, patients on 30/10 mg dose of the drug showed statistically significant incremental improvement according to a standard measure of the severity and intensity of the disorder over an additional 12-week treatment period.

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The stock climbed 4.8 percent to $1.95.

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

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