Shares in Japan's troubled electronics maker Sharp surged 13.22 percent Tuesday morning on a reported plan for a hefty asset sale, the day after rocketing 17 percent. Shares in the Osaka-based firm jumped 73 yen to 625 by the break after a news report said Sharp planned to raise 40 billion yen ($39 million) through selling overseas holdings. The Asahi Shimbun reported the firm planned to sell its television factory in Malaysia and Recurrent Energy LLC, its US solar energy developing unit, while separately considering selling other shareholdings.

By John Wasik CHICAGO (Reuters) - It used to be easy to abide by the old Wall Street nugget that you should pull out of the market in spring and come back in the fall. But research shows that it doesn't make sense to completely abandon the stock market during the summer months, particularly when it comes to individual sectors. Not all of them will decline. There are several ways to seize gains if you want to make some portfolio adjustments. Here are two approaches. GO DEFENSIVE

By Jed Horowitz NEW YORK (Reuters) - SIFMA, the securities industry's largest trade group, named former Senator Judd Gregg as chief executive officer, in a move that may signal a desire to mend fences with ordinary Americans and Congress. The Securities Industry and Financial Markets Association had been expected to give the post to interim chief executive and president Kenneth Bentsen, a veteran lobbyist, said a person close to the group.

(Reuters) - Morgan Stanley <MS.N> has been sued by an Alabama medical laboratory that claims it steered retirement plan business to ING U.S. Inc <VOYA.N> and others in exchange for extra fees in an illegal "pay-to-play" scheme. Skin Pathology Associates Inc. filed suit in federal court in Manhattan on May 16, accusing Morgan Stanley of violating federal laws governing retirement plans through its dealings with co-defendant ING Life Insurance and Annuity Co and other 401(k) service providers.