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HEADLINE STOCKS-U.S. stocks to watch on Tuesday

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HEADLINE STOCKS-U.S. stocks to watch on Tuesday

Postby Netanel » Tue Mar 17, 2009 12:55 pm

NEW YORK, March 17 (Reuters) - Some U.S. stocks to watch on
Tuesday: ALCOA INC (AA.N) The aluminum company late Monday cut its quarterly dividend
to 3 cents from 17 cents in a move to help it weather the steep
downturn in aluminum demand. It will also issue stock and
convertible notes worth about $1.1 billion, as well as trim its
2010 spending. [ID:nN16536634] Shares of the company, a Dow component, tumbled 12.1
percent to $5.39 in premarket trade. GENERAL MOTORS (GM.N) Advisors to bondholders of the automaker late Monday said
they had presented a framework plan to the Obama
administration's autos task force that provides the company's
best chance for an out-of-court restructuring. The plan was
also presented to GM. The plan is for a debt-to-equity exchange, which is
"consistent with the government's restructuring requirements
under the terms" of emergency government loans provided to the
automaker, the advisors said in a statement. For details, see [ID:nN16544259] Shares of GM, a Dow component, closed Monday at $2.52. AMERICAN INTERNATIONAL GROUP (AIG.N) The U.S. Treasury will modify a planned $30 billion capital
infusion for the insurance company, in an attempt to recoup
hundreds of millions of dollars in controversial bonuses paid
by the company. AIG was due to pay $165 million in employee
retention bonuses to employees of its AIG Financial Products
unit, the division that made bad bets on toxic mortgages and
credit default swaps. [ID:nWAT011157] Shares of AIG rose 4.2 percent to 86.5 cents in premarket
trade. WALT DISNEY CO (DIS.N) The media company has put the long-delayed expansion of its
theme park in Hong Kong on hold after failing to agree with
Hong Kong's government on a cash infusion. Disney and the government have been in protracted
discussions over financing a second phase of the Disneyland
theme park, but the discussions have gotten bogged down because
of the credit crunch, the recession discouraging travel and
fewer visitors to the park than were expected. [ID:nPEK318047] Shares of Disney, a Dow component, closed Monday at
$17.21. JOHNSON CONTROLS (JCI.N) The auto parts maker late Monday sold $852.5 million in
equity units and convertible notes. The total sale was more
than the $750 million the company had previously announced,
since the underwriters exercised options to buy additional
equity units and notes. [ID:nN16530040] Shares closed Monday at $9.64. GENERAL GROWTH PROPERTIES GGP.N The mall owner late Monday said some of its lenders had
agreed to give it more time to refinance its debt, again
pushing off the threat of bankruptcy. Lenders under the company's 2006 Senior Credit Agreement
agreed to forbear exercising certain rights on $2.6 billion
owed until Dec. 31. [ID:nN16545396] Shares surged 23 percent to 75 cents in premarket trade. STAR BULK CARRIERS CORP (SBLK.O) The Greek dry bulk carrier posted fourth-quarter profit
that beat market expectations, as voyage revenue leaped
twenty-fold to $72.8 million from the year-ago quarter. Shares of the company rose 30 percent in trading after the
bell. They closed at $1.8199 Monday on Nasdaq.


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