Markets Friday, 04/18/2008

Friday, 4/18/2008

| Dow : 12849.36 up 228.87

| S & P : 1390.33 up 24.77

| NASDAQ: 2402.97 up 61.14

| Bond (10Y): 3.71%, 98.25

MARKETS:
Stocks end the day and week higher
Wall Street rallies on improved earnings from Google, Caterpillar and
others raise hopes that corporate profits outside the financial sector
are holding up.

U.S. stocks zoom on Citigroup, Google earnings results

Date: Fri, 18 Apr 2008 21:06:03 (GMT)
U.S. stocks zoom on Citigroup, Google earnings results

U.S. stocks rally, putting the market on track for strong weekly gains,
as investors cheer Citigroup write-downs and Google earnings.

Citigroup posts big 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 20% a day after the Internet-search company
posts a 31% jump in first-quarter profit and dispels many concerns about
growth in its advertising business.

Emerging Markets Report: Plan to revitalize

Mexico's oil industry faces clock, protests
Heated debate among Mexico's lawmakers about whether to open the door
to foreign oil companies has stalled legislation aimed at reviving the
flagging fortunes of state-run Petroleos de Mexico, the world's
third-largest oil producer.

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.

Nasdaq paces weekly surge, rising nearly 5%; Dow, S&P finish week up over 4%

Date: Fri, 18 Apr 2008 16:07:02 -0400

Nasdaq paces weekly surge, rising nearly 5%; Dow, S&P finish week up
over 4%
4/18/2008 4:03:47 PM

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.

Citigroup swings to quarterly loss of $5 billion, revenues fall 48%

Date: Fri, 18 Apr 2008 06:39:14 -0400

Citigroup swings to quarterly loss of $5 billion, revenues fall 48%
4/18/2008 6:35:53 AM

Market Briefing Newsletter for Thursday, 04/17/2008

Thursday, 4/17/2008

| Dow : 12620.49 up 1.22

| S & P : 1365.56 up 0.85

| NASDAQ: 2341.83 down 8.28

| Bond (10Y): 3.73%, 98.09

MARKETS:
Stocks stage comeback
Wall Street erases bigger losses to end mixed in a mostly weaker session
influenced by Merrill Lynch's loss, Nokia's dour outlook and a big drop
in a key manufacturing survey.

Google beats estimates amid worry over 'paid clicks'

Date: Thu, 17 Apr 2008 21:06:04 (GMT)
Google beats estimates amid worry over 'paid clicks'

Google Inc. reports its fiscal first-quarter profit rose 31%, despite
concerns about growth in the Internet company's core search advertising
business.

Market Snapshot: U.S. stocks end mixed, little changed ahead of Google

U.S. stocks finish mixed with technology shares off slightly ahead of
earnings from Internet giant Google, while the broader market overcame
losses at Merrill Lynch to end slightly higher.

Futures Movers: Oil futures retreat after hitting record high of
$115.54

SAN FRANCISCO
Crude-oil futures close slightly lower, pulling back after touching a
record atop the $115-a-barrel mark, as firmness in the U.S. dollar put
pressure on oil prices.

MarketWatch First Take: Is Continental courting disaster?

SAN FRANCISO
Continental Airlines CEO Larry Kellner told the world Thursday, in no
uncertain terms, that he needs to join forces with another airline to
fend off the competitive threat posed by a combined Delta-Northwest
behemoth.

OPINION

Date: 17 Apr 2008 19:39:36 -0000

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Google reports sales and profit that top Wall Street's expectations; stock surges 10% after hours.

Date: Thu, 17 Apr 2008 16:06:06 -0400

Google reports sales and profit that top Wall Street's expectations;
stock surges 10% after hours.

U.S. stocks fall after mixed earnings, data

Date: Thu, 17 Apr 2008 16:01:05 (GMT)

U.S. stocks fall after mixed earnings, data

U.S. stocks slip as a mixed batch of earnings from the likes of Merrill
Lynch, International Business Machines, and Pfizer fail to inspire the
market.

The Fed: Kohn sees major weaknesses in financial system

WASHINGTON
The ongoing turmoil in financial markets has "revealed major weaknesses"
in the U.S. financial system that need urgent attention from the private
sector and regulators, Federal Reserve Vice-Chairman Donald Kohn said
Thursday.

Economic Report: Philly factory gauge falls to 7-year low

Factories in the Philadelphia region report weaker conditions in early
April, as the Philly Fed index remains negative for the fifth straight
month.

Merrill still exposed despite big first-quarter write-downs

"De-leveraging by its nature takes a lot of time, a lot of pain,"
Berkshire Hathaway Chairman Warren Buffett said in a recent Fortune
interview. For Merrill Lynch that statement is too true.

EBay shares fall as auctions business still shows weakness

EBay sees its shares slip after reporting better-than-expected results
for the first quarter but indicating that its core business is still
relatively weak.

Stocks fall as investors react to dismal Merrill Lynch earnings and a weak job market despite strong results from tech companies.

Date: Thu, 17 Apr 2008 09:35:08 -0400

Stocks fall as investors react to dismal Merrill Lynch earnings and a
weak job market despite strong results from tech companies.

U.S. first-time jobless claims up to 372,000 last week; continuing claims near 3 million

Date: Thu, 17 Apr 2008 08:34:18 -0400

U.S. first-time jobless claims up to 372,000 last week; continuing
claims near 3 million
4/17/2008 8:31:47 AM

Bargain hunters boost home sales

Date: Thu, 17 Apr 2008 05:48:36 -0500

NEWS
Pope to bishops: Church must heal flock
---------------------------------------------
Pope Benedict XVI confronted some of the Catholic Church's most
contentious issues Wednesday as he began a six-day visit to the USA.

High court clears way to restart lethal injections
---------------------------------------------
Several states are poised to resume executions after the Supreme Court
on Wednesday upheld Kentucky's lethal injection method and effectively
ended a national moratorium.

Dem rivals jangle for keys to Pa. nomination
---------------------------------------------
It didn't take long for the debate between Barack Obama and Hillary
Rodham Clinton on Wednesday night to turn to God and guns, small-town
values and political opportunism.

MONEY

Samsung chief indicted in corruption probe
---------------------------------------------
Special prosecutors probing alleged corruption at Samsung Group said
Thursday they indicted Chairman Lee Kun-hee for tax evasion and breach
of trust while clearing the conglomerate of bribery allegations.

Bargain hunters boost home sales in some markets
---------------------------------------------
As home sales and prices drop across much of the USA, many potential
buyers remain scared to jump into the market, and sellers are resorting
to slash-and-burn prices. The national median price sank to $195,900 in
February, down from $213,500 in February 2007. Foreclosures are up
nearly 60% from March 2007, according to RealtyTrac.

Report: Some auto safety gear's value limited
---------------------------------------------
Some pricey new safety gear that automakers have billed as technological
breakthroughs that will save lives may have only limited protective
value, the Insurance Institute for Highway Safety concludes in a report
out Thursday.

Markets Wednesday, 04/16/2008

Wednesday, 4/16/2008
| Dow : 12619.27 up 256.80

| S & P : 1364.71 up 30.28

| NASDAQ: 2350.11 up 64.07

| Bond (10Y): 3.68%, 98.47

MARKETS:
Big rally on Wall Street
Stocks jump over 250 points, as better-than-expected earnings reports
from Intel and JP Morgan help soothe worries about poor first-quarter
results.

IBM profit jumps on services, software sales

Date: Wed, 16 Apr 2008 21:06:03 (GMT)
IBM profit jumps on services, software sales

IBM Corp. reports first-quarter profit rose 26% from a year ago due to
strong sales in its global services division and across all its major
geographic areas.

Market Snapshot: U.S. stocks rally on upbeat earnings news

Stocks rally, with the Dow industrials posting a 256-point advance, as
upbeat results from technology bellwether Intel Corp. and financial
giant J.P. Morgan Chase raise hopes that corporate profits can weather a
U.S. economic downturn.

Crude hits new record high of $115.07 a barrel

Crude-oil futures gain more than $1 to surpass $115 after data showing a
surprising drop in U.S. crude inventories and fresh lows for the U.S.
dollar.
Bush calls for halt in greenhouse-gas growth by 2025

The president's remarks come after increasing pressure from the
corporate sector for some kind of effort regarding climate change.

Merrill's latest quarterly write-down seen as high as $8 billion

Merrill Lynch will likely write down the value of complex mortgage
securities and other troubled assets by at least $4.5 billion when the
brokerage firm reports quarterly results, according to analysts.

IBM reports 36% jump in quarterly profit on sales of $24.5 billion. CEO: 'We feel good about the rest of the year.'

Date: Wed, 16 Apr 2008 16:13:03 -0400

IBM reports 36% jump in quarterly profit on sales of $24.5 billion. CEO:
'We feel good about the rest of the year.'

Major U.S. indexes surge as upbeat earnings help boost sentiment; Dow up about 250 points

Date: Wed, 16 Apr 2008 16:13:12 -0400

Major U.S. indexes surge as upbeat earnings help boost sentiment; Dow up
about 250 points
4/16/2008 4:09:54 PM

Crude tops $115 a barrel for the first time

Date: Wed, 16 Apr 2008 14:43:38 -0400

Crude tops $115 a barrel for the first time
4/16/2008 2:40:18 PM

U.S. economy has weakened since mid-March: Fed Beige Book

Date: Wed, 16 Apr 2008 14:06:46 -0400

U.S. economy has weakened since mid-March: Fed Beige Book
4/16/2008 2:03:33 PM

IBM looks to lift market with earnings report

Date: Wed, 16 Apr 2008 16:01:04 (GMT)
IBM looks to lift market with earnings report

SAN FRANCISCO
IBM Corp. is slated to report its first-quarter results after the market
closes Wednesday, and Wall Street analysts are expecting Big Blue to
deliver strong results led by its services business and international
sales.

Market Snapshot: U.S. stocks rally on upbeat earnings news

U.S. stocks rally as upbeat results from Intel, J.P. Morgan Chase and
Coca-Cola, as well as in-line data on inflation, helped lift sentiment.

Intel shares jump on upbeat outlook

Shares of Intel Corp. leap more than 6% after the chipmaking giant
issues an upbeat foreast during its first-quarter earnings report.

Write-downs, credit losses cut J.P. Morgan's profit in half

J.P. Morgan Chase & Co. said its first-quarter profit was halved as the
company booked higher provision for credit losses and wrote down the
value of mortgages and leveraged loans. But the results still beat
expectations, and shares gained in early moves.

Hedge-fund managers tally up biggest payday: Alpha magazine

Top hedge-fund managers had the greatest payday in the modern history of
finance during 2007, according to Institutional Investor's Alpha
magazine.

Breaking News Wed., April 16, 2008

Date: Wed, 16 Apr 2008 07:32:19 -0700 (PDT)

U.S. SUPREME COURT UPHOLDS USE OF LETHAL INJECTION AS A METHOD OF
EXECUTION, THE AP REPORTS

Tech-stock enthusiasm leave Nasdaq as pacesetter in early Wall Street advance

Date: Wed, 16 Apr 2008 09:35:19 -0400

Tech-stock enthusiasm leave Nasdaq as pacesetter in early Wall Street
advance
4/16/2008 9:31:59 AM

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Date: Tue, 15 Apr 2008 16:02:07 -0400

Stocks end higher in choppy trading as investors focus on Johnson &
Johnson's earnings, shrugging off record oil prices.

U.S. stocks rise helped by upbeat bank earnings

Date: Tue, 15 Apr 2008 16:01:04 (GMT)

U.S. stocks rise helped by upbeat bank earnings

U.S. stocks rise on well received earnings from State Street and other
regional banks, as well as data showing improving sentiment on the
economy and in-line core wholesale price growth.

Futures Movers: Oil futures up 1.5% after hitting record

Crude-oil futures soar to a new record of $113.93, temporarily boosted
by supply disruption in Mexico and Nigeria.

Bad loans paint grim landscape at regional banks
NEW YORK
Several of the nation's major regional banks, from the Deep South
through the Midwest, said on Tuesday that plummeting housing prices and
other financial strains on borrowers are forcing large loan write-offs
and provisions for bad loans, undermining quarterly profits.

Delta, Northwest deal reveals a desperate industry

Delta Air Lines' and Northwest's decision to go forward with
consolidation despite without the full approval of pilots indicates how
desperate the airline environment has become in the last month.

J&J reports 40% rise in quarterly profit, lifts estimates

Johnson & Johnson, the world's largest health-care group, reports a
40% increase in first-quarter earnings, due largely to higher sales, a
favorable foreign-exchange rate, and accounting charges in the
year-earlier quarter.

Government reports inflation for businesses soared in March to 1.1%. Excluding food and energy, rate was in line with expectations.

Date: Tue, 15 Apr 2008 08:35:20 -0400
Government reports inflation for businesses soared in March to 1.1%.
Excluding food and energy, rate was in line with expectations.

Foreclosures jump 57 percent in last 12 months

Date: Tue, 15 Apr 2008 06:31:56 -0400

Foreclosures jump 57 percent in last 12 months
April 15, 2008 05:41 AM ET

NEW YORK (Reuters) - Home foreclosure filings surged 57 percent in the
12 month-period ended in March and bank repossessions soared 129 percent
from a year ago, as homeowners struggled
to make mortgage payments, real estate data firm RealtyTrac said on
Tuesday.

BUSINESS NEWS
Delta, Northwest to create largest airline
April 15, 2008 02:21 AM ET

NEW YORK (Reuters) - Delta Air Lines Inc will buy Northwest Airlines
Corp for more than $3 billion under a proposal unveiled Monday
to create the world's biggest airline, as carriers seek to counter
skyrocketing fuel prices and a weak economy.

INTERNET NEWS
Google enlists video ID tools to combat child porn
April 14, 2008 03:40 PM ET

SAN FRANCISCO (Reuters) - Google Inc is enlisting the same
image-recognition technology the company uses to trace copyright
violations on
its YouTube video site to fight online child pornography, the company
said on Monday.

BREAKING NEWS: Delta, Northwest OK merger

Date: Mon, 14 Apr 2008 19:40:30 -0500

ATLANTA - Delta Air Lines has reached an agreement with Northwest
Airlines to take over Northwest and create the world's biggest carrier.
The boards of both companies approved the deal Monday. Delta said the
combined airline will have an enterprise value of $17.7 billion. Delta
CEO Richard Anderson will head the combined company in Atlanta.

Markets Monday, 04/14/2008

Date: Mon, 14 Apr 2008 17:31:04 -0400

| Dow : 12302.06 down 23.36

| S & P : 1328.32 down 4.51

| NASDAQ: 2275.82 down 14.42

| Bond (10Y): 3.51%, 99.88

MARKETS:
Down day on Wall Street
Stocks give up midday recovery attempt and resume the decline on
Wachovia and worries about first-quarter earnings.

U.S. stocks end lower on earnings worries

Date: Mon, 14 Apr 2008 21:06:03 (GMT)

U.S. stocks end lower on earnings worries

U.S. stocks finish a wobbly session lower with investors still digesting
the poor results from bellwether General Electric, while absorbing
further evidence of the ailing financial sector from Wachovia.

Capitol Report: Rubin: Weak dollar is an additional problem for the Fed

WASHINGTON
Robert Rubin said the weak dollar, caused by unsound Bush administration
fiscal policy, has now got to be a factor in the Federal Reserve's
thinking about how low it can cut rates to spur economic growth in
coming months.

Analysts skeptical of Blockbuster's bid for Circuit City

Blockbuster's attempt to buy Circuit City is baffling to many
analysts, who think the video-rental chain needs more time to turn
itself around before undertaking a costly acquisition.

Speculators return to oil-futures market, pushing record prices

Speculators increased their bets on rising oil prices last week for the
first time in four, helping push crude prices to a new high, data from
the U.S. futures regulator show.

Wachovia posts loss, will raise $7 bln capital and slash payout

Wachovia Corp cuts dividend, sets plans to raise $7 billion. .

U.S. stocks finish lower ahead of key earnings; Wachovia's 9% decline hits banks

U.S. stocks finish lower ahead of key earnings; Wachovia's 9% decline
hits banks
4/14/2008 4:06:10 PM

China says firearms found in Tibetan temple

Date: Mon, 14 Apr 2008 06:34:46 -0400
China says firearms found in Tibetan temple

BEIJING (Reuters) - Chinese forces found firearms hidden throughout a
Tibetan temple in an ethnic Tibetan area of southwestern China which has
been the scene of anti-Chinese riots in recent weeks,
state television said.

Wachovia posts loss, will raise $7 bln capital and slash payout

Date: Mon, 14 Apr 2008 16:01:03 (GMT)

Wachovia posts loss, will raise $7 bln capital and slash payout

Wachovia Corp cuts dividend, sets plans to raise $7 billion.

Delta-Northwest merger may take shape this week
SAN FRANCISCO
After a week of negotiations, Delta Air Lines and Northwest Airlines may
be set to reveal merger plans as early as Tuesday, according to a media
report Sunday.

Blockbuster offers to buy Circuit City at 54% premium

Blockbuster Inc. said it proposed to buy Circuit City for $6 to $8 a
share.

Danone sales rise 19% on baby food deal, yogurt demand

Groupe Danone, the world's largest yogurt maker, says first-quarter
sales rise 19%, boosted by the acquisition of baby-food giant Royal
Numico and strong demand for its Activia yogurts.

Wachovia reports a net loss in latest earnings report, slashes its dividend. Announces plans for public offering to raise capital.

Date: Mon, 14 Apr 2008 06:19:03 -0400

Wachovia reports a net loss in latest earnings report, slashes its
dividend. Announces plans for public offering to raise capital.

The government reports March retail sales rose 0.2%; excluding auto sales they rose 0.1 %.

Date: Mon, 14 Apr 2008 08:33:17 -0400

The government reports March retail sales rose 0.2%; excluding auto
sales they rose 0.1 %.