STOCKS NEWS US-Markets fall on fears over autos, banks

Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]

U.S. stock market report [.N]
1328 ET 30March2009-Markets fall on fears over autos, banks
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Major U.S. indexes fell on Monday after the Obama administration raised the
specter of bankruptcy for U.S. automakers General Motors (GM.N) and Chrysler.
Sentiment was also pressured after Spain had to rescue a regional bank, adding
to concerns about the global financial system.

The Dow Jones industrial average .DJI fell 3.3 percent to 7,518.60 while
the S&P 500 .SPX lost 3.4 percent to 788.20 and the Nasdaq .IXIC was off
3.1 percent to 1,497.20.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1318 ET 30March2009-Banks expected to shrink balance sheets by $2 tln
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The largest 15 global banks are expected to shrink their balance sheets by
about $2 trillion in 2009, a move that will have a huge impact on liquidity and
provision of capital, Morgan Stanley and Oliver Wyman said in a joint report.

In a note to clients, the firms wrote that it was critical for confidence
to be restored soon in order to help real money investors buy credit assets.

The note also read that the firms expect long-term return on equity will
remain subdued for the next two years. [ID:nBNG446227]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1308 ET 30March2009-Manitowoc withdraws outlook, may breach covenants
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Shares of Manitowoc Co (MTW.N) plunged on Monday, dropping after the
diversified manufacturer withdrew its full-year outlook and said it was heading
towards a possible violation of debt covenants as proceeds from the sale of its
ice business were lower than expected.

It also gave a first-quarter earnings outlook that was half of what
analysts were expecting. [ID:nBNG358782]

The stock dropped 34 percent to $3.04.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1258 ET 30March2009-All S&P sectors seen with fall in Q1 profits
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First-quarter earnings for the S&P 500 .SPX are expected to be down 35.6
percent in the first quarter, with all ten sectors in the index expected to
post a decline in profits, according to Thomson Reuters data.

"Should all ten sectors finish the quarter with negative growth rates, it
will mark the highest number of sectors recording negative growth since Thomson
Reuters began tracking sector growth rates in 1998," read Thomson Reuters's
"This Week in Earnings" report.

The sector seen with the biggest fall in first-quarter earnings is the
consumer discretionary group, which is expected to post a fall of 102 percent
in quarterly earnings. The health care group is expected to post the strongest
results, falling 3 percent, the data showed.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1144 ET 30March2009-Cuomo: JPMorgan to end illegal card fees
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New York Attorney General Andrew Cuomo on Monday said that JPMorgan Chase
(JPM.N) had agreed to end monthly fees added to 184,000 credit card accounts.
He also said that the bank would refund the "illegal" fees to consumers. The
return will total about $4.4 million. [ID:nWEN6646]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1132 ET 30March2009-Markets fall on fears over autos, banks
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Major U.S. indexes fell on Monday after the Obama administration raised the
specter of bankruptcy for U.S. automakers General Motors (GM.N) and Chrysler.
Sentiment was also pressured after Spain had to rescue a regional bank, adding
to concerns about the state of the global financial system.

For details, see [ID:nN30335589]

The Dow Jones industrial average .DJI fell 3.8 percent to 7,477.26 while
the S&P 500 .SPX lost 3.8 percent to 784.81 and the Nasdaq .IXIC was off
3.8 percent to 1,486.59.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1111 ET 30March2009-General Growth fails to get bondholder support
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Shares of General Growth Properties GGP.N fell on Monday, after the
company said that a plan to defray payment on five series of bonds failed to
secure sufficient bondholder support.

The mall operator said that after two extensions, it still hadn't garnered
enough support from holders of $2.25 billion of bonds of Rouse Cos, the
developer General Growth purchased in 2004. [ID:nN30334330]

Shares of General Growth fell 9.1 percent to 60 cents.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1100 ET 30March2009-Lincoln National plunges, won't accept Fed aid
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Shares of Lincoln National (LNC.N) plummeted on Monday, dropping after the
life insurance company withdrew an application for funding guarantees from the
U.S. government.

Late Friday, Lincoln disclosed that it no longer believed that it would
qualify under the provisions of the Temporary Liquidity Guarantee Program.

For details, see [ID:nN30332529]

The stock tumbled 38 percent $6.46. Among its peers, MetLife (MET.N) sank
9.4 percent to $22.19, Prudential Financial (PRU.N) lost 13 percent to $19.35
and Aflac (AFL.N) lost 9.4 percent to $17.95.

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