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1609 ET 21Sep2009-US STOCKS SNAPSHOT
Dow, S&P end down on weak commodities

The Dow industrials and the S&P 500 index closed lower on Monday as a decline in oil and other commodity prices hurt energy and materials stocks.

But the Nasdaq ended higher, buoyed by a broker's upgrade on the biotechnology sector.

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1442 ET 21Sept2009
AIG's ability to repay gov't unclear: GAO

American International Group's ability to restructure its business and repay billions of dollars to the U.S. government remains in doubt, U.S. congressional investigators said in a report released on Monday.

However, the company's operations have started to show signs of stabilizing in mid-2009 with the help of the bailout money, said the report from the Government Accountability Office, the investigative arm of Congress.

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Shares of AIG surged 17 percent to $46.82 on Monday.

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1354 ET 21Sept2009
VeriChip shares soar, granted license to patents

Shares of VeriChip Corp soared on Monday, after it said it had been granted an exclusive license to two patents held by its development partner Receptors LLC to detect the H1N1 virus.

The patents can also be applied to detection systems for other viruses and biological threats such as methicillin-resistant staphylococcus aureus, VeriChip said in a statement.

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The stock more than doubled, advancing 170 percent to $3.08.

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1205 ET 21Sep2009-US STOCKS
Dow, S&P fall on dollar rise; biotechs lift Nasdaq

The Dow and S&P 500 fell on Monday as a stronger U.S. dollar hurt energy and materials stocks, but the Nasdaq gained on strength in biotech share.

The dollar, which has been weak of late, rebounded Monday, with the U.S. Dollar index up 0.4 percent, putting pressure on crude oil and other commodities prices.

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1200 ET 21Sept2009
U.S. extends tax amnesty deadline to Oct. 15

U.S. tax authorities will extend a limited amnesty program for taxpayers who have undeclared income on foreign accounts to Oct. 15 from Sept. 23, according to a government official familiar with the matter.

The Internal Revenue Service amnesty program began in March after Swiss bank UBS AG turned over the names of some account holders as part of a $780 million criminal settlement with the U.S. government.

An extension was granted after tax professionals pleaded for more time to help taxpayers enter the program. More than 3,000 taxpayers have come forward, compared with less than 100 for all of last year.

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1152 ET 21Sept2009
Warner Music up after signing deal with Vodafone

Vodafone has signed a deal with Warner Music Group which will allow the world's largest mobile phone firm by revenue to offer music without anti-piracy software from all four major labels.

Vodafone said on Monday the deal would make it the first global mobile network operator to offer over-the-air access to music from the four majors. It had previously signed deals with EMI Group, Universal Music and Sony Music.

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Shares of Warner Music gained 3.4 percent to $5.55.

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1043 ET 21Sept2009
First Busey shares sink, may breach covenants

First Busey Corp expects to breach two of its financial covenants, and to report a third-quarter net loss due to higher provisions for bad loans.

The Urbana, Illinois-based bank holding company does not expect to be in compliance with the covenants for the next two quarters and said it was in talks with lenders for a possible waiver.

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The stock sank 11.5 percent to $5.70.

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