HEADLINE STOCKS-U.S. stocks to watch on May 27

NEW YORK, May 27 (Reuters) - Some U.S. stocks to watch on
Wednesday:

GENERAL MOTORS CORP (GM.N)

The automaker is preparing to face the fallout from a
failed debt exchange that sends the largest U.S. automaker
closer to a bankruptcy filing expected by the end of the
month.

For details, see [ID:nN26513310]

Shares of the Dow component fell 6.3 percent to $1.35 in
premarket trading.

BANK OF AMERICA CORP (BAC.N)

Rochdale Securities analyst Richard Bove reduced his 2009
earnings estimate on the bank to 74 cents a share from $1.08 a
share, saying the company may perform poorly in the near-term
as it continues to sell shares.

SANDISK (SNDK.O)

Samsung Electronics renewed its NAND flash memory chip
license with SanDisk for seven years. The renewal has a lower
royalty rate but a guarantee for a portion of Samsung's chips
output to SanDisk. [ID:nSEO225692]

Shares of SanDisk rose 6.8 percent to $14.50 in premarket
trading.

AUTOZONE INC (AZO.N)

The retailer reported third-quarter earnings that beat
expectations. [ID:nBNG340053]

Shares fell 2.4 percent to $158.89 in premarket trading.

CHICO'S FAS INC (CHS.N)

The retailer reported an increase in its first-quarter
profit, helped by improving sales trends. [ID:nN27515827]

Shares rose 4 percent to $9.20 in premarket trading.

CHARMING SHOPPES INC (CHRS.O)

The company reported its first-quarter results.
[ID:nWNAB3640]

Shares rose 3.6 percent to $3.71 in premarket trading.

MONSANTO CO (MON.N)

The company said it was targeting the lower end of its
fiscal 2009 earnings outlook. [ID:nWNAB3683]

Shares fell 3.9 percent to $81.90 in premarket trading.

STAPLES INC (SPLS.O)

The office supplies retailer reported adjusted
first-quarter earnings that beat expectations by 1 cents a
share. [ID:nN26494473]

Shares rose 9.1 percent to $22.24 in premarket trading on
Wednesday.

CREE INC (CREE.O)

The LED lighting company late Tuesday raised its
fourth-quarter revenue and profit outlook, citing stronger
orders for both lighting and laptop LED products.
[ID:nN26420226]

Shares rose 9.8 percent to $30.48 in premarket trading.

BORDERS GROUP INC BGP.N

The book retailer late Tuesday reported an adjusted
quarterly loss that was narrower than expected.
[ID:nN26489362]

Shares closed Tuesday at $2.57.