BP Share News (BP.)

U.S. stocks moved higher Tuesday as the Dow Jones Industrial Average gained 65 points to 9751, the S&P 500 climbed 8 points to 1030 and the Nasdaq Composite rose 14 points to 2105. Among the companies whose shares are actively trading in the session are Broadwind Energy Inc. (BWEN), BP PLC (BP) and Taseko Mines Ltd. (TGB). Broadwind Energy ($3.35, +$0.56, +20.07%) 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 ($31.28, +$1.93, +6.58%) 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' ($3.50, -$0.42, -10.71%) 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. Coal stocks helped lead the markets higher Tuesday as they bounced back from recent underperformance and were also buoyed by recent merger-and-acquisition activity in the industry. Two M&A deals in the last day may be sparking renewed interest in beaten-down coal stocks, analysts said. Since Monday, Cliffs Natural Resources Inc. (CLF, $45.68, -$1.21, -2.58%) announced it plans to buy the coal operations of INR Energy LCC, while Thailand's Banpu PCL (BANPU.TH) launched a friendly cash takeover bid for Centennial Coal Co. Ltd. (CEY.AU). Among the gainers in the coal sector were Massey Energy Co. (MEE, $27.56, +$1.25, +4.75%), Peabody Energy Corp. (BTU, $40.90, +$1.91, +4.90%), Consol Energy Inc. (CNX, $34.43, +$1.00, +2.99%) and Alpha Natural Resources Inc. (ANR, $34.90, +$1.64, +4.93%). Patterson-UTI Energy Inc. (PTEN, $13.76, +$0.82, +6.34%) has agreed to buy pressure-pumping and wireline assets from Key Energy Services Inc. (KEG, $9.45, +$0.32, +3.50%) 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, $8.47, +$0.25, +3.03%) and Intel Corp. (INTC, $19.46, +$0.26, +1.37%). Other Stocks In Focus Allied Irish Banks PLC (AIB, $2.31, +$0.12, +5.48%) is supportive of a bid by HSBC Holdings PLC (HBC, $46.36, +$0.66, +1.44%) 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, $44.55, +$2.25, +5.32%) 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, $6.71, +$0.38, +6.00%) 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, $13.65, +$0.46, +3.49%). The U.K. Communications Workers Union said Monday that it had canceled its ballot for strike action at BT Group PLC (BT, $19.58, +$0.39, +2.03%) on legal advice and that it would take up the offer by the telecommunications company for talks while planning to re-ballot if necessary. (MORE TO FOLLOW) Dow Jones Newswires July 06, 2010 13:16 ET (17:16 GMT)