STOCKS NEWS US-Small-cap stocks drop sharply in October-Wilshire

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U.S. stock market report [.N]
1320 ET 10Nov2008-Small-cap stocks drop sharply in October-Wilshire Associates
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Small-cap stocks experienced steeper losses in October than other stocks in
the Dow Jones Wilshire 5000 index , which posted its worst monthly
return since October 1987, Wilshire Associates said on Monday.

The index posted a 17.57 percent loss last month, which was also its
second-worst monthly return since the index's creation in 1971. Additionally,
the Dow Jones Wilshire Small-Cap Index was off 21.38 percent, while the DJ
Small-Growth Index dropped 22.85 percent.

Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1300 ET 10Nov2008-Goldman Sachs shares drop below $70 on earnings fears
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Shares of Goldman Sachs (GS.N: Quote, Profile, Research) fell below $70 in intraday trading for the
first time since April 1, 2003 on Monday after analysts said they expected the
investment bank to post a quarterly loss for the first time in the company's
history.

Barclays analysts said they expected Goldman to post a fourth-quarter loss
of $2.50 per share due to the dramatic decline in equity markets, which Goldman
is exposed to through its private equity business. Shares were down more than
11 percent to $68.78 at one point on Monday.

For details, see [ID:nWNAB0696]

Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net
1207 ET 10Nov2008-Some regional bank ETFs wildly overvalued- Schutz
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Some regional bank ETFs that include small and midcap companies are wildly
overvalued, Anton Schutz, portfolio manager at Mendon Capital, told the Reuters
Global Finance Summit in New York.

"You see multiples in the teens, which makes no sense to me," he said, but
declined to name the exchange traded funds. "There's some crazy stuff out
there. It's not that these are going to fail, it's just that the companies
don't deserve those premiums," Schutz said.

Schutz attributes the high earnings-per-share multiples to investors
deciding not to buy individual bank stocks and buying baskets of regional banks
instead.

(For other news from the Reuters Global Finance Summit, click here)

Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net
1201 ET 10Nov2008-Markets fall on economic worries, GM
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Major U.S. indexes turned lower on Monday, falling on economic fears and
the news that an analyst cut the price target on General Motors (GM.N: Quote, Profile, Research) to $0.
[ID:nN10461110]

The Dow Jones industrial average .DJI fell 0.1 percent to 8934.57 while
the S&P 500 .SPX was off 0.6 percent to 925.36 and the Nasdaq .IXIC slid
0.9 percent to 1,632.80.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1127 ET 10Nov2008-Xenoport falls, to withdraw and resubmit NDA
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Shares of Xenoport Inc (XNPT.O: Quote, Profile, Research) slumped Monday after the company announced
plans with GlaxoSmithKline (GSK.N: Quote, Profile, Research) to withdraw and resubmit its New Drug
Application for its Solzira product, which is used to treat Restless Legs
Syndrome.

The company said the resubmission will result in a delay of $23 million in
milestone payments from Glaxo and Astellas Pharma Inc.

Shares of Xenoport fell 14 percent to $33.90 while GlaxoSmithKline shares
were off 0.5 percent to $37.91.

Reuters messaging: charles.mikolajczak@thomsreuters.com@reuters.net

1119 ET 10Nov2008-People's United Financial up, added to S&P 500
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Shares of People's United Financial (PBCT.O: Quote, Profile, Research) rose Monday after Standard &
Poor's said it would add the savings and loan company to the S&P 500 .SPX. It
is replacing Unisys Corp (UIS.N: Quote, Profile, Research) on the index. [ID:nBNG388668]

People's United shares gained 6.4 percent to $17.71. Unisys shares last
traded at $1.08.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1100 ET 10Nov2008-Markets cut gains, up on China's stimulus package
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Major U.S. indexes traded higher on Monday after China unveiled a $586
billion economic stimulus plan that could combat a global downturn and boost
markets for U.S. multinationals. Though positive, the markets were down from
early gains. [ID:nN10457389]

The Dow Jones Industrial Average .DJI rose 0.6 percent to 8,992.80 while
the S&P 500 .SPX was up 0.2 percent to 932.47 and the Nasdaq .IXIC was flat
at 1,636.93.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1051 ET 10Nov2008-Chemical cos up after Arch Chemical results
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Shares of chemical companies rose Monday after Arch Chemicals (ARJ.N: Quote, Profile, Research)
reported third-quarter results that beat expectations. [ID:nWNAB0947]

Arch Chemical shares surged 6.1 percent to $29.35. Among other chemical
companies, Sigma-Aldrich (SIAL.O: Quote, Profile, Research) gained 1.2 percent to $42.70, International
Flavor and Fragrance (IFF.N: Quote, Profile, Research) was up 2 percent to $30.15 and Lubrizol Corp
(LZ.N: Quote, Profile, Research) rose 0.8 percent to $36.99. Elsewhere, EcoLabs Inc (ECL.N: Quote, Profile, Research) slid 7.7
percent to $33.77.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1041 ET 10Nov2008-Las Vegas Sands down, in no talks with CapitaLand
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Shares of Las Vegas Sands (LVS.N: Quote, Profile, Research) fell Monday after CapitaLand said it
hadn't held any talks with the company over its Singapore casino-resort
project. The statement came after a brokerage firm said CapitaLand and the
Singapore government may take over the project if Las Vegas Sands fails to
avert loan defaults. [ID:nSIN148088]

The stock slid 3.1 percent to $6.81.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1033 ET 10Nov2008-Fannie Mae posts record loss in Q3
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Residential mortgage funder Fannie Mae (FNM.N: Quote, Profile, Research) Monday reported a record $29
billion loss in its third quarter as it wrote down a tax-related asset that has
buoyed capital. The loss is the fifth consecutive one for the company, which
has operated under a government conservatorship since September.
[ID:nN10450742]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net