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MENTOR CORP
JOHNSON & JOHNSON
Johnson & Johnson said it would buy Mentor for $1.07 billion.
Mentor shares surged nearly 90 percent to $30.59 on Monday while Johnson & Johnson, a Dow component, fell 3.2 percent to $56.71. Both trade on the New York Stock Exchange.
GENERAL MOTORS
FORD MOTOR
The ailing U.S. car manufacturers have approached the Swedish government about aid for their Saab and Volvo units, the Financial Times said. GM, which owns Saab Automobile AB, and Ford, which owns Volvo Car Corp, want Sweden to bolster the units' finances in anticipation of selling them, the newspaper said. Sales of Saabs and Volvos have fallen as the global financial crisis has affected more prospective car buyers across the world.
Shares of GM, a Dow component, lost 5.5 percent to $4.95 at midday Monday on the NYSE, after earlier rising to as high as $5.75.
In contrast, Ford's stock advanced 2.6 percent to $2.76.
MICROSOFT CORP
YAHOO INC
A report that Microsoft is in talks to buy Yahoo is "total fiction," according to a key executive, who was cited in the blog AllThingsDigital. The blog is affiliated with The Wall Street Journal.
Shares of Microsoft, a Dow component, slid 3.6 percent to $19.51, while Yahoo shares shed 4.3 percent to $11.01, both on Nasdaq.
UNITEDHEALTH GROUP
The health insurance company forecast 2009 earnings of $2.90 to $3.15 a share and revenue of $85 billion to $86 billion.
UnitedHealth's stock rose 3.6 percent to $21.76.
DELTA AIR LINES
BOEING CO
Delta, which bought Northwest Airlines in October, plans to scale back a Northwest order for Boeing's new 787 Dreamliner jet, which has been delayed, according to The Wall Street Journal.
In addition, Delta is expanding its own order for Boeing's 777-200LR aircraft, the newspaper said.
Delta's stock lost 4.8 percent to $8.39 on Monday, while Boeing shares dropped 3.5 percent to $41.12.
TOWER SEMICONDUCTOR
The Israeli chip maker has started to lay off 17 percent of its work force in Israel, according to a report on TheMarker financial news website.
U.S.-listed shares of Tower fell 5.2 percent to 21 cents on Nasdaq.
MIDWAY GAMES
Media mogul Sumner Redstone sold his controlling stake in Midway to a private investor in an attempt to ease his debt load, according to a report in The Wall Street Journal.
Midway shares slid 18.4 percent to 31 cents on Monday on the NYSE.
DOW CHEMICAL
Kuwait is looking to reduce its portion of the cost of a planned petrochemical joint venture with Dow Chemical by as much as $2 billion, according to a Kuwaiti oil official.
Dow Chemical's stock dipped 0.1 percent to $18.55.
AMERICAN INTERNATIONAL GROUP
The insurer agreed to sell its wealth management provider AIG Private Bank for $254 million to investment company Aabar Investments of Abu Dhabi.
AIG's stock shed 9.5 percent to $1.81 on Monday.
CITIGROUP
Spanish builder Sacyr Vallehermoso sold its Itinere highway business for $10.2 billion to a Citigroup-owned private equity fund.
The stock of Citigroup, a Dow component, fell 13 percent to $7.24 on the NSYE in late morning trading.
GENERAL GROWTH PROPERTIES
The shopping mall owner won a two-week extension on the maturity of $900 million in mortgage loans, giving it a reprieve as it talks to its lenders about a longer-term extension.
General Growth's stock slid 11.6 percent to $1.21 on Monday in NYSE trading. (Compiled by Ryan Vlastelica; Editing by Jan Paschal) Keywords: MARKETS STOCKS HEADLINES (ryan.vlastelica@thomsonreuters.com; + 1 646-223-6014; Reuters Messaging: ryan.vlastelica@reuters.com@reuters.net)
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