BP Share News (BP.)

U.S. stocks were rising Tuesday with the Dow Jones Industrial Average gaining 1.7% to 9851, the S&P 500 climbing 1.9% to 1042, and the Nasdaq Composite rising 2.1% to 2136. Among the companies whose shares are actively trading in the session are Broadwind Energy Inc. (BWEN, $3.59, +$0.80, +28.67%), BP PLC (BP, $31.29, +$1.94, +6.61%) and Taseko Mines Ltd. (TGB, $3.70, -$0.22, -5.61%). Broadwind Energy ($3.58, +$0.79, +28.32%) has been chosen to supply structural wind towers, to be installed at sites in the U.S. this year, for Gamesa Corporacion Tecnologica SA (GAM.MC, GCTAY). Financial details of the agreement weren't disclosed. Broadwind said it expects to deliver the towers to Gamesa during the fourth quarter. Gamesa, headquartered in Spain, is a maker of wind-turbine generators. It has operations in the U.S., Europe, China and India. BP ($31.29, +$1.94, +6.61%) killed speculation Tuesday that it was looking for a white-knight investor to take a large equity stake in the company by saying it won't issue new equity to raise money to cover the costs of the oil spill in the Gulf of Mexico. BP would welcome it if any existing shareholders or new investors want to expand their holding in the company by buying already-listed shares, but no new shares will be listed, said a company spokeswoman. The approval process for Taseko Mines' ($3.70, -$0.22, -5.61%) gold-copper mine in central British Columbia is likely to be "messy" after a Canadian review panel concluded there would be a significant adverse environmental impact. The review panel concluded that the project would destroy Fish Lake, home to about 90,000 rainbow trout, replacing it with a much smaller man-made lake. Cliffs Natural Resources Inc. (CLF, $48.90, +$2.01, +4.29%) announced plans to buy the coal operations of INR Energy LCC for $757 million, which the diversified miner said would immediately contribute to earnings and cash flow and significantly boost its supplies of metallurgical coal, used in steel production, and thermal coal, used in energy production. Separately, Cliffs also said late Friday that Spider Resources Inc. (SDERF, SPID.RQ) broke off its agreement to merge with KWG Resources Inc. (KWGBF, KWG.V) and accepted Cliffs' offer to take over the company for about $103 million. All three companies are partners in a chromite project in Northern Ontario. Chromite is used to make chromium, which is in turn used in the production of stainless steel. Patterson-UTI Energy Inc. (PTEN, $13.96, +$1.02, +7.88%) has agreed to buy pressure-pumping and wireline assets from Key Energy Services Inc. (KEG, $9.55, +$0.42, +4.60%) for $237.7 million, expanding its ability to service shale gas operators. Under the transaction, Patterson is acquiring equipment in the Barnett Shale, Eagle Ford Shale and Permian Basin regions, more than doubling the total horsepower of its pressure pumping gear. It is also picking up a wireline business that includes 26 wireline units. Global chip sales rose 4.5% in May from the prior month, topping April's record for monthly sales, and remained up sharply from last year's downtrodden levels, according to the Semiconductor Industry Association. May sales totaled $24.7 billion, up 48% from a year earlier, when sales were pummeled by lagging consumer demand amid the recession. Chipmakers were rising including Micron Technology Inc. (MU, $8.61, +$0.39, +4.74%), Advanced Micro Devices Inc. (AMD, $7.35, +$0.18, +2.51%) and Intel Corp. (INTC, $19.64, +$0.44, +2.29%). Fidelity National Information Services Inc. (FIS, $27.37, +$0.96, +3.63%) launched its planned $2.5 billion stock-buyback effort and unveiled a $1.2 billion note sale to help fund it. The provider of banking and payments technology will sell seven- and 10-year notes. The note sale is part of a financing package for the stock-tender offer that includes loans. FIS in May announced the $2.5 billion buyback plan after a potential $10 billion leverage buyout fell through. The company said Tuesday that modified Dutch auction will have a price range of $29 to $31 a share. Other Stocks In Focus: AirTran Holdings Inc. (AAI, $4.91, +$0.15, +3.15%) said traffic and plane fullness both reached record levels for June and the second quarter at its namesake airline as fliers continue to return to the skies. Allied Irish Banks PLC (AIB, $2.39, +$0.20, +9.13%) is supportive of a bid by HSBC Holdings PLC (HBC, $46.85, +$1.15, +2.52%) to buy its Polish unit Bank Zachodni WBK as AIB managers feel they owe HSBC for helping set up a "bad bank," Polish daily Dziennik Gazeta Prawna reports Tuesday without citing sources. Oilfield-services company Baker Hughes Inc. (BHI, $44.62, +$2.32, +5.48%) has agreed to sell its Gulf of Mexico stimulation and sand-control business, which it was required to unload as a result of its purchase of BJ Services Co., for $55 million. The Justice Department gave antitrust clearance to the $6.5 billion buyout but required the divestiture of some assets as a condition of approval. Bebe Stores Inc. (BEBE, $6.90, +$0.57, +9.00%) said it plans to shutter its unprofitable PH8 chain as the women's clothing retailer looks to improve the results at its namesake operations and develop its 2b bebe concept. The company also announced fiscal fourth-quarter, same-store sales will likely come in at the low end of its prior forecast as bebe also disclosed plans to pay a $1 a share special dividend in the wake of it receiving payment for auction-rate securities previously tied up with UBS AG (UBS, $13.73, +$0.54, +4.09%). The U.K. Communications Workers Union said Monday that it had canceled its ballot for strike action at BT Group PLC (BT, $19.88, +$0.69, +3.60%) on legal advice and that it would take up the offer by the telecommunications company for talks while planning to re-ballot if necessary. Macquarie started coverage on mining-equipment companies Bucyrus International Inc. (BUCY, $51.67, +$2.75, +5.62%) and Joy Global Inc. (JOYG, $52.76, +$1.92, +3.78%) with outperform ratings, saying they "expect solid equipment demand, driven by our bullish views on commodity fundamentals, and believe the recent pullback amidst macro concerns over the proposed Australian resources super profits tax, sovereign debt issues and a potential slowdown in China presents a good entry point." The analysts said that Joy Global may be "cleaner" as Bucyrus has acquisitions to work into its operations. (MORE TO FOLLOW) Dow Jones Newswires July 06, 2010 10:27 ET (14:27 GMT)