STOCKS NEWS US-Merrill paid bonuses before being bought: FT

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]

U.S. stock market report [.N]
0809 ET 22Jan2009-Merrill paid bonuses before being bought: FT
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Merrill Lynch paid billions of dollars in bonuses to its employees three
days before Bank of America (BAC.N) completed its life-saving purchase of the
firm, the Financial Times reported.

The money was paid as losses mounted at Merrill. The losses eventually
forced Bank of America to seek additional government support for the deal.
[ID:nN21507574]

Shares of Bank of America slid 1.5 percent to $6.58 in premarket trade.

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

0801 ET 22Jan2009-IBM workers report job cuts: WSJ
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Employees at International Business Machine (IBM.N) have informed
Alliance@IBM that workers at a number of locations have been told that their
jobs are being cut, according to a report in the Wall Street Journal.

The paper said that the cuts were coming from people who work in the
software group in applications development and marketing. IBM couldn't be
reached for comment on the report.

Alliance@IBM is an affiliate of the Communication Workers of America.
[ID:nBNG349376]

Shares of IBM, a Dow component, slid 0.7 percent to $90.81 in premarket
trade.

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

0756 ET 22Jan2009-UAW: Chrysler-Fiat deal best thing for Chrysler
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Ron Gettelfinger, the president of the United Auto Workers union, on
Thursday said that an alliance to give Italy's Fiat 35 percent of Chrysler was
the best deal Chrysler could have struck in order to preserve jobs.

"We all knew Chrysler needed to partner with somebody. It was a matter of
who and what would do the least harm to people," Gettelfinger said.
[ID:nN21297153]

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

0750 ET 22Jan2009-Nokia results weighs on Motorola in premarket
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Nokia (NOK.N) on Thursday reported fourth-quarter earnings that missed
expectations, and warned that market volumes would contract by 10 percent in
2009 as the recession weighs on consumer spending. [ID:nLL462427]

U.S.-listed shares of Nokia fell 9.8 percent to $12.37 in premarket trade,
while peer company Motorola (MOT.N) slid 1.3 percent to $4.45

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

0743 ET 22Jan2009-Barclays trims targets on two computer companies
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Barclays Capital on Thursday cut its price target on two computer
companies, Dell Inc (DELL.O) and Dow component Hewlett-Packard (HPQ.N). The
firm sees "slugglish" global demand for computers going into 2009, and the
potential for further weakening.

Dell's price target was cut by $1 to $10. Barclays said that cost cutting
at the company could offset reduced revenue and earnings.

The firm cut its target on Hewlett-Packard by $2 to $45, saying that though
it sees a weaker economy, "we continue to believe Hewlett-Packard will benefit
from share gains in personal computers and serves versus Dell as well as cost
cutting in services." It added that Hewlett-Packard "is one of the safest plays
in tech."

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

0738 ET 22Jan2009-Sanders Morris to sell part of cap market unit
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Investment bank Sanders Morris Harris (SMHG.O) on Wednesday said would sell
a significant portion of its capital market business to Siwanoy Capital for an
undisclosed amount. The move is part of a bid for the company to convert itself
into an asset management company. [ID:nBNG222086]

Sanders Morris will retain a 20 percent interest in the unit. The deal is
expected to close in the second quarter.

Shares of Sanders Morris Harris closed Wednesday at $5.10.

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

0723 ET 22Jan2009-Dow added $93.6 bln in market cap on Wednesday
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The Dow Jones industrial average .DJI added $93.6 billion in market cap
on Wednesday, a day when it gained 3.5 percent to close at 8,228.10, according
to the Dow Jones Indexes. It was the biggest point and percentage gain since
Dec. 16, though it only recaptured about 85 percent of the loss recorded on
Tuesday.

Currently, the Dow is down 6.25 percent in January.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0712 ET 22Jan2009-Futures mixed ahead of data, earnings
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U.S. index futures were mixed on Thursday, ahead of the release of
quarterly results from such major companies as Microsoft Corp (MSFT.O), a Dow
component, and Google (GOOG.O). Investors were also looking to the release of
housing starts and jobless claims data. [ID:nLM727500]

Dow Jones industrial average futures DJc1 fell 38 points while S&P 500
futures SPc1 slid 4.2 points and Nasdaq 100 futures NDc1 were up 3.25
points.

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