New GM CEO Fritz Henderson suggested that bankruptcy was possible and that more than five plants could be closed.
With the market rebounding, the safe haven play on gold softened. But gold futures never broke below $900 and seem to be modestly moving up .Financials remain in the top 10 list with changes in FASB accounting standards expected this week. Bank of America (BAC - Get Report) would be affected by the change as it would be able to reassess the value of its portfolio. Wells Fargo (WFC - Get Report)is another bank that may benefit from the accounting change. Citigroup (C - Get Report) reached a settlement to buy back $3.2 billion in auction rate securities from customers. The product was billed as safe, but then became illiquid when the market froze. AIG (AIG - Get Report) can't seem to stay out of trouble. The beleaguered insurer is under investigation by 50 different state insurance regulators looking into worker compensation premiums. GE Healthcare a unit of General Electric (GE - Get Report) announced the positive results of study involving nuclear imaging test for heart patients. Top ten list favorite Apple (AAPL) may benefit from a new Intel chip. And finally, Philip Morris (MO) lost its bid for the Supreme Court to rule on a 10 year old case. The smoker stands to win many millions of dollars versus the original judgment that was less than $1 million.