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U.S. stock market report 0807 ET 27Nov2009-First Niagara applies to become bank holding co ------------------------------------------------------------------------------

First Niagara Financial Group Inc said it has applied to the Federal Reserve Board to become a bank holding company. As a result of the application, the company has withdrawn its application for approval of its planned acquisition of Harleysville National Corp from the Office of Thrift Supervision and is now seeking approval from the Fed board. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net 0747 ET 27Nov2009-Futures tumble on possible Dubai default ------------------------------------------------------------------------------

U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.

S&P 500 futures sank 30 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures tumbled 222 points, while Nasdaq 100 futures slid 48.75 points. 0733 ET 27Nov2009-Hurray Holding to buy Ku6 ----------------------------------------------------------------------------

Hurray Holding Co Ltd has reached an agreement to acquire Ku6 in exchange for 723,684,204 Hurray shares, of which 44,438,100 will be represented by American Depositary shares of Hurray. All outstanding employee stock options of Ku6 will be canceled. Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS

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