Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]
0728 ET 17March2009-General Growth lenders agree to give it more time
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Mall owner General Growth Properties GGP.N late Monday said some of its
lenders had agreed to give it more time to refinance its debt, again pushing
off the threat of bankruptcy.
Lenders under the company's 2006 Senior Credit Agreement agreed to forbear
exercising certain rights on $2.6 billion owed until Dec. 31. [ID:nN16545396]
Shares surged 23 percent to 75 cents in premarket trade.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0724 ET 17March2009-Disney puts HK theme park expansion on hold
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Media company Walt Disney Co (DIS.N) has put the long-delayed expansion of
its theme park in Hong Kong on hold after failing to agree with Hong Kong's
government on a cash infusion.
Disney and the government have been in protracted discussions over
financing a second phase of the Disneyland theme park, but the discussions have
gotten bogged down because of the credit crunch, the recession discouraging
travel and fewer visitors to the park than were expected. [ID:nPEK318047]
Shares of Disney, a Dow component, closed Monday at $17.21.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0722 ET 17March2009-GM bondholders present best chance for automaker
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Advisors to bondholders of automaker General Motors GM.N late Monday said
they had presented a framework plan to the Obama administration's autos task
force that provides the company's best chance for an out-of-court
restructuring. The plan was also presented to GM.
The plan is for a debt-to-equity exchange, which is "consistent with the
government's restructuring requirements under the terms" of emergency
government loans provided to the automaker, the advisors said in a statement.
For details, see [ID:nN16544259]
Shares of GM, a Dow component, closed Monday at $2.52.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0716 ET 17March2009-Treasury to rework AIG aid to recoup bonuses
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The U.S. Treasury will modify a planned $30 billion capital infusion for
the insurance company, in an attempt to recoup hundreds of millions of dollars
in controversial bonuses paid by the company. AIG was due to pay $165 million
in employee retention bonuses to employees of its AIG Financial Products unit,
the division that made bad bets on toxic mortgages and credit default swaps.
For details, see [ID:nWAT011157]
Shares of AIG rose 4.2 percent to 86.5 cents in premarket trade.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0707 ET 17March2009-Economic indicators for March 17
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Economic indicators on tap for Tuesday include ICSC chain store data,
February housing starts figures, the PPI inflation number for February, U.S.
producer prices information for February, weekly Redbook retail sales data and
the ABC consumer confidence index.
For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0701 ET 17March2009-Earnings diary for March 17
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Companies scheduled to report quarterly results on Tuesday include: Adobe
Systems (ADBE.O), Omnova Solutions (OMN.N), AAR Corp (AIR.N), Anthracite
Capital AHR.N, Intelli-Check IDN.N, Merriman Curhan Ford Group (MERR.O) and
X Rite (XRIT.O), among others.
For details, see [RESF/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
