Monday's Early Headlines
- Market Weighs in on Health Care Approval -- Stock futures were lower early Monday after the House of Representatives on late Sunday voted to approve a health care reform bill in a 219-212 vote with no Republican support. Health care stocks, including Aetna (AET), Cigna (CI) and Humana (HUM) were trading mixed in the premarket session.
- Merkel: Greece Doesn't Need EU Help -- German Chancellor Angela Merkel reportedly said Sunday that Greece needs no financial help and that the European Union shouldn't make aid for Greece an issue at its summit planned for Thursday. "Aid is not on the agenda on Thursday," Merkel told Deutschlandfunk radio, according to The Associated Press. She reportedly added that Greek Prime Minister George Papandreou had given her his assurance that Greece would not ask for EU support.
- Google Reportedly Close to China Decision -- Google (GOOG) is expected to unveil its China plans this week, The Wall Street Journal reports, and could come as early as Monday. Google said in January it was no longer willing to censor its search results in China and could potentially shut down its Web site and its offices in the country. One possible scenario is that Google would make deals with specific Chinese ministries about various parts of the business throughout the country, a source told the Journal.
- Bank of America's Moynihan Goes to China -- Bank of America (BAC) CEO Brian Moynihan is making his first trip to China this week, according to a report in The Wall Street Journal. Bank of America is preparing to incorporate in China in order to pursue more business there, the report said. The bank wants to do more commercial and corporate banking in China, in contrast to its retail-banking strength in the U.S.
- Hank Greenberg Sells AIG Stock to UBS -- Former American International Group (AIG) CEO Hank Greenberg's investment vehicle, Starr International, will collect $278.2 million upfront from UBS (UBS), according to a regulatory filing. Starr will deliver 10 million shares of AIG to UBS in four transactions of 2.5 million shares, with the first delivery due in just under three years from now.