U.S. stocks zoom on Citigroup, Google results

Date: Fri, 18 Apr 2008 16:01:03 (GMT)
U.S. stocks zoom on Citigroup, Google results

U.S. stocks rally at the open as investors cheer the fact that Citigroup
Inc.'s writedowns were not as bad as feared, along with
stronger-than-expected results from Internet-search giant Google Inc.

Citigroup posts sizable loss on some $12 billion in write-downs

Citigroup posts a $5.1 billion loss for the first quarter as a result of
writing down about $12 billion in soured mortgage investments and other
credit-related items.

Google gets big lift as market cheers report

Google Inc. shares surge as much as 18% Friday, one day after the
Internet-search company posted a 31% jump in first-quarter profit and
dispelled many concerns about growth in its advertising business.

Caterpillar net climbs 13% despite weakness in N. America

Caterpillar Inc. says strong demand outside North America powered the
bulldozer giant to a 13% jump in quarterly profit Friday, adding to
bullish sentiment in the broad market.

France Telecom confirms interest in TeliaSonera

France Telecom SA confirms its interest in Nordic operator TeliaSonera
AB, but said it has yet to make a decision or start takeover talks.