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Gapping Up and Down This Morning

Gapping up

GKK +14.9%, FNSR +9.7%, OCLR +5.5%, CASC +5.1%, JDSU +3.2%, CSTR +1.9%, SLV +1.7%, GLD +1.2%, SLV +2.2%,

EGO +2.1%, SLW +1.8%, HL +1.7%, GOLD +1.7%, GLD +1.7%, NEM +1.6%, ABX +1.2%, GG +1.2%, RIO +0.4%,

ZQK +2.2%,  CPB +2%,

Gapping down

NFLX -8.7%, ESL -6.1%, HRB -4.8%, BP -3.4%, NOK -2%, TOT -1.7%, RDS.A -1.4%, BHP -1.2%,  BBL -0.5%,

BTU -3.8% , BAC -6.5%, NBG -3.7%, BCS -3.3%, ING -3.0%, DB -2.4%, C -2.1%, JPM -1.9%, WFC -1.9%, MT -2.9%,

NOK -2%, AZN -1.5%, FDX -1.3%

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BG to buy elevator in AK

ST. LOUIS, Sept. 1, 2011 /PRNewswire/ — Bunge North America, the North American operating arm of Bunge Limited (NYSE:BG – News), announced that it is purchasing the Riceland Foods elevator strategically located at the Crittenden County Port in West Memphis, Ark. The sale is expected to close by the end of the year, subject to customary closing conditions. In the interim, Bunge will begin operating the facility immediately under an agreement with Riceland and the West Memphis Crittenden County Port Authority. Financial terms were not disclosed.

“With growing world demand for U.S. agricultural products, Bunge continues to look for opportunities to strengthen our network of elevators along the Mississippi River and its tributaries to serve our export terminal in Destrehan, La.,” said Bailey Ragan, vice president and general manager, Bunge Grain. “This elevator is located in an area that grows several different crops and where production continues to increase, providing Bunge with a year-round source for a variety of crops for our customers in destination markets.”

The elevator has a storage capacity of 625,000 bushels and can handle corn, soybeans, wheat, milo and rice. Seven employees at the facility are transitioning to Bunge.

“Bunge will continue our strong relationship with Riceland with a through-put agreement for the West Memphis facility,” said Doug McNeely, Bunge Grain’s Center Gulf Region manager. “With an elevator located across the river in Memphis, we already have a good relationship with growers in the region. We hope to build on that success with our commitment to customer service.”

All open contracts with existing Riceland customers will be assigned to Bunge.

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AT&T anti-trust suit a fresh line in the sand

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The lawsuit seeking to block AT&T Inc.’s takeover of T-Mobile USA Inc. shows a more aggressive antitrust stance by the U.S. Justice Department that limits prospects for other big telecommunications deals, antitrust analysts said.

The suit, filed yesterday in Washington federal court, seeks to derail the $39 billion T-Mobile deal, the biggest acquisition announced this year, according to data compiled by Bloomberg. The last transaction the Justice Department challenged whose size even approached the AT&T bid was the 2003 $8.4 billion Oracle Corp.-PeopleSoft Inc. merger.

The T-Mobile deal is the biggest challenged by the Justice Department since it sued in June 2000 to block WorldCom Inc.’s proposed acquisition of Sprint Corp., a deal valued at $152 billion when the companies called off the merger the following month.

With yesterday’s filing, President Barack Obama’s Justice Department departed from its strategy of approving large acquisitions after adding conditions, as it did with Comcast Corp.’s purchase of NBC Universal and Ticketmaster Entertainment Inc.’s merger with Live Nation Inc. Previously, antitrust authorities at the department “backed down,” said Robert Lande, a University of Baltimore law professor.

“They negotiated a compromise,” Lande said. “But this one they said, ‘No, we cannot compromise, this is anticompetitive.’”

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