SAN FRANCISCO (MarketWatch) -- The U.S. government is expected to introduce a wide-ranging plan Tuesday to restore confidence to the battered banking system that will likely supersede many of its previous measures, The Wall Street Journal reported in its online edition Monday. The centerpiece of its latest effort is a plan for the Treasury to take about $250 billion in equity stakes in potentially thousands of banks by mobilizing funds from the $700-billion bailout package, the Journal said, citing people familiar with the matter. The Federal Deposit Insurance Corporation is also expected to temporarily extend its backstop to new senior preferred debt issued by banks and thrifts for three years and temporarily lift the insurance limits for non-interest bearing bank deposit accounts, according to the newspaper.

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SAN FRANCISCO (MarketWatch) -- Epicor Software Corp. said late Monday it declined a recent takeover offer from hedge fund Elliott Associates for $9.50 a share in cash. Epicor told Elliot, a major shareholder in the company, it declined the offer because of the unsettled capital markets and planned product releases over the next 24 months.

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SAN FRANCISCO (MarketWatch) -- Maxim Integrated Products Inc. said late Monday that it expects fiscal first-quarter earnings of 19 cents to 22 cents a share. The company estimates revenue for the quarter of $460 million to $490 million. Maxim also said its board authorized a $750 million stock buyback, and said that amount could be raised to $1.5 billion.

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SAN FRANCISCO (MarketWatch) -- Fitch Ratings on Monday lowered Morgan Stanley's long and short-term issuer default ratings to A/F1 from AA-/F1+ due to continued pressure on its profitability and funding despite the capital injection from Mitsubishi UFJ. The move also takes into account the continued challenges Morgan Stanley faces in its transition to a financial holding company. "Fitch expects Morgan Stanley to experience a material reduction in revenues as its three strongest revenue generators face declines. Customers are migrating away from its premier prime brokerage business due to deleveraging and concerns around the protection of client assets. Morgan Stanley's investment banking activities are also facing economic headwinds, as is its commodities trading business," said the ratings agency. The outlook remains negative to reflect the weakened earnings potential of investment banking operations in this tumultuous economic period, Fitch said.

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SAN FRANCISCO (MarketWatch) -- Wynn Resorts Ltd. said late Monday it sees a drop in its third-quarter Las Vegas operating results while Macau results are expected to be better than last year's. Wynn said it expects an operating loss or a gain of $2 million in Vegas, compared with operating income of $35.8 million a year ago. In Macau, Wynn expects operating income of $57 million to $63 million, compared with $39.2 million a year ago.

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SAN FRANCISCO (MarketWatch) -- Stacey Snider and Steven Spielberg of DreamWorks SKG announced they have signed a 7-year distribution deal between their new movie company and General Electric Co.'s Universal Pictures. Snider and Spielberg recently left Paramount Pictures to partner with India's Reliance Big Entertainment on a new film company. Under the deal, Universal will distribute about six of the new company's films a year beginning in 2009.

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NEW YORK (MarketWatch) -- U.S. stocks sprang higher on Monday as widespread buying fueled the Dow Jones Industrial Average's greatest intraday point gain on record after a frantic weekend of international government actions bolstered confidence in the banking sector and credit markets. The Dow Jones Industrial Average gained 936.42 points, or 11.1%, to end at 9,387.61, its greatest daily point jump ever and its 5th-largest daily percent gain. The S&P 500 [$spx] rose 104.1 points, or 11.6%, to end at 1,003.32. The Nasdaq Composite climbed 194.75 points, or 11.8%, to end at 1,844.25.

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SAN FRANCISCO (MarketWatch) -- November crude traded at $82.34 per barrel Monday evening in electronic trading on Globex, up from the New York Mercantile Exchange's closing level $81.19, while December gold fell to $833.90 an ounce on Globex, from the day's Nymex closing level of $842.50. Crude found support as the Dow Jones Industrial Average gained more than 900 points. And a "move back to crude could send gold tumbling for awhile," said Darin Newsom, DTN senior analyst.

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BOSTON (MarketWatch) -- Drug stocks rocketed in late day trading Monday as European and U.S. markets rallied in the wake of a multi-government effort to recapitalize many of the world's most critical banks. The Amex Pharmaceutical Index soared 11% to close at 262.65 and the Amex Biotechnology Index shot up 10% to close at 678.24. European pharmaceutical firms were the biggest gainers, with Novo Nordisk A/S and Elan Corp. both leaping 16%. On the U.S. side, sharpest advancers included Eli Lilly & Co. , Merck & Co. , Schering-Plough Corp. and Allergan Inc.

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BOSTON (MarketWatch) -- Several leveraged exchange-traded funds designed to short international stocks fell heavily Monday as global markets surged following efforts by many governments to help stem the credit crisis. ProShares UltraShort MSCI Emerging Markets fell 45% on Monday, the largest percentage decliner among ETFs. Elsewhere, ProShares UltraShort FTSE/Xinhua China 25 dropped 33%, ProShares UltraShort MSCI EAFE fell 32% and ProShares UltraShort MSCI Japan lost about 30%.

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SAN FRANCISCO (MarketWatch) -- General Motors Corp. will close a metal stamping plant in Wyoming, Mich., by the end of 2009, The Associated Press reported late Monday. The closure will affect 1,340 hourly jobs, according to the AP. Workers were notified of the plans on Monday, the news service reported.

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SAN FRANCISCO (MarketWatch) -- Macrovision Solutions Corp. said late Monday it will sell TV Guide Magazine to OpenGate Capital as a part of its corporate strategy. "Macrovision is focused on providing technology solutions and TV Guide Magazine was identified as a business not aligned with that core corporate strategy," said the company in a statement. Macrovision does not expect to record any gains or losses related to the sale as TV Guide had been classified as discontinued operations. The deal is expected close in around Dec. 1.

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SAN FRANCISCO (MarketWatch) -- A Citigroup analyst late Monday issued a dour outlook for the U.S. economy, writing in a note to clients that the recent crisis has "broken the bounds of any previous, merely cyclical event." Citigroup analyst Steven Wieting wrote that tightening financial conditions and weakening economic activity are expected to continue, and suggest "a more severe recession." Wieting wrote that even if "traction is eventually regained," he is nonetheless expecting contraction in the U.S. GDP over the four quarters ending in the second quarter of 2009. "We believe large company profits will now fall 27% peak-to-trough, and the unemployment rate to peak above 8 1/2%," Wieting wrote.

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SAN FRANCISCO (MarketWatch) -- Oil and gas stocks staged a stunning turnaround Monday, rallying sharply on the back of a 900-point gain by the Dow Jones Industrial Average . The Amex Oil Index finished the session with a 16% surge to 940 points. Anadarko Petroleum led percentage gainers in the group, up nearly 23%, while Dow components Exxon Mobil and Chevron advanced 17% and 20%, respectively. The Amex Natural Gas Index soared 20% to 397 points, matched by a 20% advance by the Philadelphia Oil Service Index . The gains built on growing investor confidence that concerted efforts in Washington and Europe to stabilize the world's banking system could finally bear fruit.

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SAN FRANCISCO (MarketWatch) -- General Motors Corp. shares rallied 33.1% to close at $6.51 on Monday, leading an 11% surge for the Dow Jones Industrial Average and helping to repair some of the damage that brought the stock down to 1950 levels last week. Ford Motor Co. jumped 20.1% to finish at $2.39 but is still off 64% from the beginning of the year. GM is down 74% year-to-date. The Dow closed up 936 points at 9,388.

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CHICAGO (MarketWatch) -- Retail stocks rebounded with the broader markets Monday, with the sector's main indicator gaining almost 9% after scraping to near-historic lows last week. The S&P Retail Index rose more than 24 points to 298.82. Top gainers included Macy's , up almost 11% at $10.99 and Wal-Mart , which added just over 7% to $54.65.

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SAN FRANCISCO (MarketWatch) -- GMAC Financial Services, the financing arm of General Motors , said late Monday it is adopting a more conservative policy for auto financing in response to the instability in the global credit markets. The changes include limiting purchases to contracts with a credit score of 700 or above and restricting contracts with higher advance rates and longer terms. GMAC also said it increased the rate it charges dealers for providing non-incentivized consumer auto financing by 75 basis points last week. "These changes in pricing and underwriting are related to the current market environment, which has reduced access to funds and increased the cost of funds. The company currently expects these actions to remain in place until the credit markets stabilize and accessibility improves," said GMAC in a statement. The company's wholesale auto finance business is unaffected by the actions announced Monday.

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NEW YORK (MarketWatch) -- Shares of U.S. financial stocks closed up about 7% Monday, near the day's high, as led by an 85% rally in Morgan Stanley shares. Morgan Stanley shares rose 85% Monday after securing a $9 billion investment lifeline form Japan's Mitsubishi UFJ. Investors also cheered aggressive plans from European governments to bolster their banking systems, as well as expectations the U.S will announce details of its own plan ahead of the open Tuesday. Shares of the Financial Select Sector SPDR, an ETF that tracks the financial stocks in the S&P 500 closed up 6.8% at $16.13. The ETF shares traded as high as $16.20 during the session.

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SAN FRANCISCO ( MarketWatch) - A strong rally late Monday pushed the Nasdaq Composite Index up 194.7 points, or 11.8%, its strongest performance since January 2001. The Nasdaq closed at 1,844.25. The Morgan Stanley High Tech 35 Index gained 11.9%, while the Philadelphia Semiconductor Index rose 9.7%. The Dow Jones Industrial Average added 947.5 points.

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SAN FRANCISCO (MarketWatch) -- The principals of DreamWorks SKG reached a distribution agreement with General Electric Co. unit Universal Pictures, The Wall Street Journal reported on its Web site Monday, citing people close to the matter. Under the deal, Universal Pictures will distribute about six films a year that DreamWorks plans to produce at its new film company with India's Reliance ADA Group.

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NEW YORK (MarketWatch) -- Shares of U.S. financial stocks were off their highs a half hour before the close Monday afternoon, but held on to strong gains led by an almost doubling in Morgan Stanley shares. Morgan Stanley shares rose 83% Monday afternoon after securing a $9 billion investment lifeline form Japan's Mitsubishi UFJ. Investors also cheered aggressive plans from European governments to bolster their banking systems, as well as expectations the U.S will announce details of its own plan ahead of the open Tuesday. Shares of the Financial Select Sector SPDR, an ETF that tracks the financial stocks in the S&P 500 rose 4.4% to $15.76. The ETF shares traded as high as $16.20 during the session.

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NEW YORK (MarketWatch) -- U.S. stocks on Monday rebounded sharply from last week's bloodshed, with the major indexes up more than 8% in the wake of plans by governments to shore up the troubled global banking system. The Dow Jones Industrial Average gained 713.85 points, or 8.4%, to 9,164.04. The S&P 500 rose 80.01 points, or 9%, to 9,79.23, while the Nasdaq Composite leaped 148.09 points, or 9%, to 1,797.60.

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SAN FRANCISCO (MarketWatch) -- Societe Generale on Monday said it expects a third-quarter net income, excluding items, of 1 billion euros ($1.35 billion) and stressed that it had not experienced significant losses despite rumors circulating in the market. "At this time, the group has not experienced significant losses on its structured products activities, which would necessitate a recapitalization of any kind," said Societe Generale in a statement. The French financial group also said it has reduced risky assets and have strengthened its hedging levels during the quarter and as of Sept. 30, its Tier One ratio, or its capital adequacy ratio, is over 8%. Societe Generale is scheduled to release third-quarter earnings Nov. 6.

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SAN FRANCISCO (MarketWatch) - Technology stocks leaped forward near the closing bell on Monday, with the Nasdaq Composite Index up more than 8.2% in the final hour of trading while the Morgan Stanley High Tech 35 Index gained nearly 9% and the Philadelphia Semiconductor Index was ahead 6.4%. The Dow Jones Industrial Average was up more than 660 points in late afternoon on strong positive sentiment. Apple shares were up more than 11% while Cisco was up more than 9% following analyst upgrades. Google was up 13.2% near the close of trading.

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SAN FRANCISCO (MarketWatch) -- SkyWest Inc. said Monday that combined September traffic at SkyWest Airlines and Atlantic Southeast Airlines fell 10.5% to 1.29 billion revenue passenger miles from 1.44 billion a year ago. Total September capacity fell 11.1% to 1.69 billion available seat miles from a year ago. Load factor, or the percentage of seats filled with passengers, rose to 76.5% in September from 76% a year ago.

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SAN FRANCISCO (MarketWatch) -- Nvidia Corp. said Monday the Department of Justice has formally notified the company that its investigation into potential antitrust violations related to graphics processing units and cards has been closed. No specific allegations were made against Nvidia during the investigation. Shares of Nvidia were up 13.5% to $7.73 a share.

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SAN FRANCISCO (MarketWatch) - November crude closed at $81.19 per barrel Monday on the New York Mercantile Exchange, up $3.49, or 4.5%. Prices climbed as a rally in the U.S. stock market boosted prospects for oil demand. But "I don't think the low is in yet," said Darin Newsom, DTN senior analyst. Oil prices lost 17% last week. "Monday's action, across the board, looked like a price vacuum due in large part to government offices being closed" for the Columbus Day holiday, said Newsom. It was "kind of a throwaway day. Crude fundamentals still look bearish, as do gasoline, heating oil, and natural gas."

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SAN FRANCISCO (MarketWatch) -- Diebold Inc. on Monday reiterated its earnings outlook for 2008 after United Technologies withdrew its unsolicited bid. Expresssing confidence that the company is on the right track, Diebold said it expects to report 2008 earnings of $1.52 to $1.62 a share and adjusted earnings of $2.45 to $2.40 a share. Analysts surveyed by FactSet Research are forecasting the company to earn $2.41, on average, in 2008. The company also projected restructuring charges of 45 cents to 56 cents a share and an impairment charge of 5 cents a share. "The Diebold board of directors remains confident that the company is on the right path, and is encouraged by the continued improvement it has seen in the company's strategic initiatives to gain cost efficiencies and increase profitability," said John Lauer, non-executive chairman of the board. In February, United Technologies offered $40 a share for Diebold which was rebuffed.

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NEW YORK (MarketWatch) - Gold futures fell for a third session Monday, closing at the lowest level in more than a week as government agreements reached in Europe and the U.S. to support the banking sector served to dampen safe-haven demand. Gold for December delivery fell $16.50, or 1.9%, to end at $842.50 an ounce on the Comex division of the New York Mercantile Exchange, the lowest since Oct. 3.

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SAN FRANCISCO (MarketWatch) -- Ford Motor Co. said that news reports saying the auto maker will sell off its controlling stake of Mazda Motor Co. are speculative, The Wall Street Journal reported Monday on its Web site, citing Ford's U.S. operations head Mark Fields. Fields told the Journal that the Ford and Mazda remain operationally independent despite joint ventures.

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