STOCKS NEWS US-Former AIG CEO: Govt should provide guaranty

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U.S. stock market report [.N]
0744 ET 02Dec2008-Former AIG CEO: Government should provide guaranty
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The U.S. government should provide a federal guaranty to meet AIG's
counterparty collateral requirements, Maurice Greenberg, the company's former
chief executive said in an opinion piece in the Wall Street Journal.

A guaranty would allow a large portion of the previously drawn capital from
the federal credit facility to be repaid and redeployed with no loss to
taxpayers, he wrote. [ID:nBNG349651]

Shares of AIG closed Monday at $1.65. It rose to $1.80 before the bell.
0730 ET 02Dec2008-JPMorgan to cut 21 pct of Washington Mutual jobs
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JPMorgan said it would cut about 9,200 jobs at the former Washington
Mutual, a figure representing more than 21 percent of the failed bank's total
work force.

About 4,000 of the positions will be cut by the end of January, with the
rest coming later. [ID:nN01528209]

Shares of JPMorgan, a Dow component, closed Monday at $26.12 but edged up
to $26.70 before the bell.
0725 ET 02Dec2008-Goldman may report first quarterly loss in Q4-WSJ
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The financial services company is likely to report a fourth-quarter net
loss of more than $2 billion, or $5 a share, according to a report in the Wall
Street Journal, which cited industry insiders. [ID:nBNG359558]

The loss would be Goldman's first as a public company, coming on
write-downs on such items as private equity and commercial real estate.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0719 ET 02Dec2008-Boeing union approves four-year contract
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Boeing Co's (BA.N) second-largest union Monday approved a four-year
contract offer, eliminating the possibility of a labor strike. Earlier this
year, the airplane manufacturer suffered a setback when its machinists went on
strike for 58 days. [ID:nBNG359036]

Shares of the Dow component closed Monday at $39.88.
0714 ET 02Dec2008-Crude below $50 after supply cut is delayed
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January crude futures CLc1 fell below $50 a barrel on Tuesday, with a
session low of $47.36 representing a 3-1/2-year low. The decline came after
OPEC opted to delay talks on a further output cut and investors feared that the
global economy was in worse shape than expected. [ID:nSP196932]

The contract fell 0.3 percent to $49.14.
0709 ET 02Dec2008-Economic indicators for Dec 2
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Economic indicators on tap for Tuesday include U.S. November car sales.

For details, see [ECI/US]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0706 ET 02Dec2008-Earnings diary for Dec 2
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Companies scheduled to report quarterly results on Tuesday include Sears
Holding Corp (SHLD.O) and Staples Inc (SPLS.O).

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