NEW YORK (
) -- Here are the top stock market headlines for the morning of Monday, Nov. 30, 2009.
Monday's Early Headlines
- UAE Pledges Bank Support; No Mention of Dubai -- On Sunday, the central bank of the United Arab Emirates said it would stand behind banks and offer them additional liquidity, although its statement failed to mention Dubai directly, worrying some market participants of a rift between the UAE and the city-state. Late last week, worldwide markets dropped after Dubai asked to delay debt payments of Dubai World. Meanwhile, Bloomberg reported that Abdulrahman Al Saleh, director general of the emirate's Department of Finance, told state-run Dubai TV that Dubai World's debt is not guaranteed by the government.
- Regulators Name Thirty "Systemic Risk" Banks: Report -- The Financial Times reports that 30 global financial institutions make up a list that regulators are earmarking for cross-border supervision exercises, including Bank of America (BAC) - Get Report, Goldman Sachs (GS) - Get Report, JPMorgan Chase (JPM) - Get Report, Morgan Stanley (MS) - Get Report and Citigroup (C) - Get Report in the U.S., as well as UBS (UBS) - Get Report, HSBC (HBC) and Barclays (BCS) - Get Report overseas. The list has been drawn up by regulators under the guidance of the Financial Stability Board, in an effort to halt systemic risks from spreading around the world in any future financial crisis, the Times report said.
- Shoppers Up, Spending Down on Black Friday: NRF -- The National Retail Federation said that a survey showed 195 million shoppers visited stores and Web sites over Black Friday weekend, up from 172 million last year. However, the average spending over the weekend dropped to $343.31 per person from $372.57 a year ago. Total spending reached an estimated $41.2 billion, the survey showed.
- Las Vegas Sands' Macau Unit Slumps in IPO Debut -- Sands China, the Macau unit of Las Vegas Sands (LVS) - Get Report, tumbled 10% in its first day of trading in Hong Kong. Sands China sold 1.87 billion shares in its initial public offering last week for a total of about $2.5 billion. The IPO was priced at the low end of the indicative price range of HK$10.38 to HK$13.88. Analysts said Monday's tepid debut was partly the result of the high price Sands was valuing its Macau operation.
- IBM to Buy Start-Up Guardium: Report -- IBM (IBM) - Get Report is expected to close a deal Monday to acquire database security start-up Guardium for $225 million, Israeli financial newspaper TheMarker reports. According to the report, Guardium was funded through $21 million in venture capital investments by Ascent Venture Partners, Israel's StageOne Ventures and Veritas, and Cisco Systems (CSCO) - Get Report
-- Written by Robert Holmes in New York
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