Possible GM Plant Closures & Wachovia Ousts CEO

6:55 AM, TUESDAY — Here’s some things the street will likely be buzzing about today:
The Canadian Press has a story speculating we may be getting news about possible plant closures by GM.
The Wall Street Journal has a story indicating Lehman Brothers is thinking over the possibility of shoring up its balance sheet by raising billions of dollars in fresh capital. This announcement leaves people wondering if Lehman’s quarterly loss just might be larger than the $300 million the street was expecting.
The WSJ also has another story that should leave many shareholders of Wachovia cheering after watching their stock plummet more than 50 percent over the past year, as Wachovia’s board has finally ousted longtime CEO G. Kennedy Thompson.
BBC News has a report on how leaders from around the world are meeting in Rome to discuss the problem of soaring food prices.
Forbes has a take on what to expect to hear George Soros tell lawmakers today regarding a possible commodities bubble. In particular, it appears Soros is going to point the finger at the recent ability for investment institutions to buy into the futures market through index funds. Soros believes this is causing price rises to become exaggerated, which is creating what he believes is a bubble in the making.
Stocks on my radar list to do some due diligence on today:
Nordstrom, which will be reporting later this week. In light of the positive recent report from Tiffany’s, it should be interesting to watch if the high-end products are going to eek through this volatile market relatively unscathed as the high-end consumer still has cash in their pockets.
Another stock is National Semiconductor. This was a big brother Najarian pick last night saying he saw some interesting trading going on in the options market. But it begs the question if the traders are just in it for a quick short before its earnings later this week.
That’s all for now.
Routine Disclaimer: Just remember to never base any of your investment decisions on anything in my little blog. Do your own due diligence — or hire a professional to do it for you.

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