Market Gawk

SAN FRANCISCO (MarketWatch) — Hayes Lemmerz International Inc. said late Friday it has sold its MGG Group B.V. subsidiary to an affiliate of the ECF-Group, a privately held company based in Switzerland and The Netherlands. Financial terms of the deal were not disclosed. MGG Group’s three facilities make a variety of components including heat exchangers for gas-fired boilers, intake manifolds and other aluminum components for the European automotive, commercial vehicle and other industries. MGG’s annual sales for fiscal 2006 were roughly $140 million. Northville, Mich.-based Hayes Lemmerz does not expect the transaction to have a material impact on its fiscal 2007 forecast.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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SAN FRANCISCO (MarketWatch) — Shares of U.S. airlines closed lower Friday with a drop for the week and the quarter as crude oil topped $70 a barrel.

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SAN FRANCISCO (MarketWatch) — AT&T Inc. said late Friday it has agreed to buy Dobson Communications Corp. for $13 a share in cash in a deal valued at $5.1 billion including debt. The offer represents a 17% premium to Dobson’s closing share price of $11.11 on Friday. Oklahoma City-based Dobson markets wireless service under the Cellular One brand to 1.7 million subscribers. AT&T sees potential synergies of $2.5 billion from the deal. The San Antonio-based telecommunications giant also said it expects dilution of 3 cents to 4 cents a share from the deal in the first year, and that the transaction will have a positive impact on earnings per share and free cash flow starting in the second year after the acquisition closes. AT&T added that its financial outlook remains unchanged, with expected double-digit adjusted EPS growth in both 2007 and 2008. The companies hope to close the deal by the end of the year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as t

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A former executive of Schnitzer Steel Industries Inc. has pleaded guilty to federal charges of bribing Chinese steel mill managers over a 5-year period, the Justice Department said Friday.

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Smokers are buying up cigarettes before the cost increases by 42 cents per pack on Sunday, retailers say, but they don’t expect customers to go cold turkey.

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Click Link to Listen to our Evening DailyFX Radio PodCast: http://media.dailyfx.com/podcasts/FXRadioPM062907.mp3

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Stocks slid Friday as investors, securing positions before the second half of the year begins, sold off due to rising oil prices and lingering worries about subprime mortgage lending troubles.

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ISM Manufacturing ISM Manufacturing - Prices Expected: 55.0 Expected: 69.0 Previous: 55.0 Previous: 71.0

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SAN FRANCISCO (MarketWatch) — oil and gas stocks closed with a solid set of gains Friday, buoyed by a rally in energy prices that put crude north of $70 a barrel amid what some analysts suspected included a bit of ”window dressing” by portfolio managers on this last day of trade in the second quarter.

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It was a week that challenged conventional wisdom and ready assumptions.

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