STOCKS NEWS US-Morgan Stanley puts turn busy

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1245 ET 09June2009 Morgan Stanley puts stir as stock hits resistance
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Put volume surged in Morgan Stanley (MS.N) as the investment bank reaches a
potential resistance level following a 200 percent run, said David Russell,
analyst at optionMonster.com in comments on the Web site. Morgan Stanley shares
fell 1.66 percent to $30.87 in early afternoon trade after notching a session
high of $31.65. More than 25,000 July $27 puts earlier changed hands against
the strike's open interest of just 3,274 contracts, according to
optionMonster's computer model. The put activity sent the stock's put volume to
almost twice the average in the name, he said. "MS might be running out of
steam after reaching the $31 level, which served as support last July and now
may represent resistance," he said.

Reuters Messaging: doris.frankel.reuters.com@reuters.net

1221 ET 09June2009 Some option traders eye YRC put options
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Shares of No. 1 U.S. trucking company YRC Worldwide Inc (YRCW.O) edged down
1 cent to $2.62 and some traders appear to be looking for a move lower before
the June 19 expiration, said WhatsTrading.com option strategist Frederic Ruffy.
In the June contract at the $2.50 put strike 6,425 contracts earlier traded
compared to the strike's open interest of 3,983 contracts. Ruffy said 96
percent of the trades hit at the offer and ISEE sentiment data on the
International Securities Exchange confirm that customers bought to open new
positions. The stock's option implied volatility is elevated at 154 percent, up
from 148 percent the previous day, he added. Trade Alert data show 6,578 YRC
puts traded vs. 847 calls, double the normal combined daily volume. Sentiment
based on order flow was 96 percent bearish.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1141 ET 09June2009-BlackRock near deal to buy Barclays unit: source
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Shares of BlackRock (BLK.N) rallied on Tuesday, after sources familiar with
the matter said the money manager was close to buying Barclays Global Investors
for between $12 billion and $13 billion.

British bank Barclays Plc (BARC.L) will receive cash and shares and a deal
could come as early as Wednesday, although there is potential for a delay, the
sources said.

For details, see [ID:nL911499]

Shares of BlackRock rose 6.9 percent to $180.99.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1119 ET 09June2009-Hartford shares fall after Citi downgrade
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Shares of Hartford Financial (HIG.N) fell on Tuesday, after Citi downgraded
the stock to hold from buy, citing a lack of catalysts and the upcoming
retirement of Ramani Ayer, Hartford's chief executive officer.

"He will be the fifth and most significant member of top management to
leave the company in two years," the firm wrote. "While the board begins an
external search for new top management, we believe that a meaningful management
vacuum has been created where future strategic decision making could be
stifled."

Citi also cut its price target on the company, dropping it to $19 from
$21.

Shares of Hartford fell 4.1 percent to $14.18.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1104 ET 09June2009-Edward Whitacre to become chair of new GM
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General Motors GMGMQ.PK on Tuesday named Edward Whitacre, Jr. to become
the chairman of new GM. Whitacre was previously the chairman and chief
executive officer of AT&T Inc (T.N).

Kent Kresa, the current interim chairman of the bankrupt automaker, will
continue to serve in his position until the launch of new GM.

For details, see [ID:nWNAB8028]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1047 ET 09June2009-Pep Boys jumps after earnings
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Pep Boys-Manny, Moe and Jack (PBY.N) shares jumped on Tuesday after
reporting first-quarter results that were well above Wall Street estimates.
[ID:nBNG390713]

The auto parts and service chain reported profit of 21 cents per share,
aided by promotion-driven store traffic and cost reductions, topping the 7
cents a share estimate of analysts surveyed by Thomson Reuters.

Shares climbed 8.7 percent to $9.15. Fellow auto parts retailers AutoZone
Inc (AZO.N) added 1.4 percent to $160.59; while Advance Auto Parts Inc (AAP.N)
gained 1.1 percent to $44.45.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1039 ET 09June2009-Source names banks to repay TARP, including JPM
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A source familiar with the matter on Tuesday named the ten banks that were
approved to repay the federal bailout money they received under the TARP
program.

According to the source, the banks are: Dow component JPMorgan Chase
(JPM.N), Northern Trust Corp (NTRS.O), BB&T Corp (BBT.N), Morgan Stanley
(MS.N), State Street Corp (STT.N), US Bancorp(USB.N), American Express Co
(AXP.N), Capital One Financial Corp (COF.N), Goldman Sachs Group Inc (GS.N) and
Bank of New York Mellon Corp (BK.N).

The source spoke on condition of anonymity because the Treasury Department
did not disclose the list of names.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1026 ET 09June2009-Dow, S&P turn negative on TARP concerns
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The Dow and S&P 500 turned negative on Tuesday, erasing earlier gains on
concerns that banks' repayment of government bailout money may hurt the
economic recovery.

For details, see [ID:nN09371143]

The Dow Jones industrial average .DJI fell 0.2 percent to 8,748.62 while
the S&P 500 .SPX lost 0.1 percent to 938.94 and the Nasdaq .IXIC rose 0.4
percent to 1,849.99.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net