STOCKS NEWS US-BofA raises $13.47 billion in share sale

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]
0716 ET 20May2009-BofA raises $13.47 billion in share sale
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Bank of America Corp (BAC.N) late Tuesday raised $13.47 billion in a share
sale, in a move to meet the U.S. government's requirements for capital
raising.

The bank issued 1.25 billion shares at an average price of $10.77 each
since last Friday.

For details, see [ID:nN19416813]

Shares of the Dow component rose 2.7 percent to $11.55 in premarket
trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0707 ET 20May2009-GM proposal to outsource causing problems
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A proposal by General Motors Corp (GM.N) to close factories and ship some
production overseas has become a "real problem" in negotiations with auto
workers on concessions, two U.S. lawmakers said late Tuesday, though they added
that changes in the company's business plan were possible.

Senator Carl Levin believes the Obama administration task force overseeing
GM's restructuring would like the company and the United Auto Workers to reach
a deal, rather than force a government-imposed solution.

"I think it's a real problem but I hope the UAW can negotiate it," Levin
told Reuters "If they can't, it will be up to the White House as to whether
they accept a GM plan which has a reduction of the kind we're talking about."

For details, see [ID:nN19459977]

Shares of GM rose 1 cent to $1.28 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0702 ET 20May2009-Microsoft may unveil new search engine: WSJ
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Microsoft Corp (MSFT.O) may show a new version of its Internet search
engine publicly for the first time next week, according to a report in the Wall
Street Journal.

The engine could be unveiled at the "D: All Things Digital" conference.

The software company has been testing a new version of the service
internally.

For details, see [ID:nBNG414490]

Shares of the Dow component rose 0.8 percent to $20.48 in premarket
trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0657 ET 20May2009-HP tempers revenue outlook, to cut jobs
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Dow component Hewlett-Packard Co (HPQ.N) late Tuesday gave a disappointing
full-year revenue outlook and said it would be cutting 2 percent of its work
force. The job cuts amount to about 6,400 jobs.

The news came as customers and businesses cut their spending on technology
because of the recession.

For details, see [ID:nN19414562]

Shares of Hewlett-Packard fell 4 percent to $35.10 in premarket trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0654 ET 20May2009-Economic indicators for May 20
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Economic indicators on tap for Wednesday include weekly MBA purchase data
and weekly refinancing figures.

For details, see [ECI/US]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0650 ET 20May2009-Earnings diary for May 20
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Companies scheduled to report quarterly results on Wednesday include:
Limited Brands (LTD.N), Target Corp (TGT.N), Deere & Co (DE.N), Intuit
(INTU.O), Computer Sciences Corp (CSC.N) and NetApp Inc (NTAP.O), among
others.

For details, see [RESF/US]

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