CBS Agrees to Buy CNET
CBS Corp. (NYSE:CBS), agreed to acquire online news provider CNET Networks Inc., (NASDAQ:CNET), for about $1.8 billion, just as CNET’s battle with dissident shareholders was heating up.

IAC to Buy Lexico to Boost Its Ask.com
As part of its efforts to bolster its Ask.com search engine, IAC/InterActiveCorp, (NASDAQ:IACI), plans to buy Lexico Publishing Group LLC, the owner of Dictionary.com, Thesaurus.com and Reference.com.

Senate Nears Mortgage Deal
WASHINGTON – Senate lawmakers are close to a deal that would expand a government program to insure hundreds of billions of dollars in refinanced mortgages, top lawmakers said Thursday.

GE May Shed Storied Appliance Unit
General Electric Co., (NYSE:GE), is preparing to sell or divest itself of its century-old appliances business, one of the best-known American consumer brands, as Chief Executive Jeffrey Immelt seeks to revive his weakened conglomerate.

Icahn Pushing Yahoo Back to Microsoft
Billionaire investor Carl Icahn is launching a proxy contest to unseat Yahoo Inc.’s, (NASDAQ:YHOO), board of directors, according to a person close to the matter, a move aimed at pressuring the Internet company to reach out to Microsoft Corp., (NASDAQ:MSFT), to restart sale discussions.

Blackstone Has $66.5 Million Loss as LBO Fees Drop
May 15 (Bloomberg) — Blackstone Group LP, (NYSE:BX), manager of the world’s largest private-equity fund, reported a first-quarter loss of $66.5 million as leveraged
buyouts evaporated and the value of companies it owns declined.

U.S. Industrial Production Dropped More Than Forecast
May 15 (Bloomberg) — Industrial production in the U.S. fell more than forecast in April, as the slowdown in consumer spending prompted car and appliance makers to cut back.

Deutsche, Banks Selling $4 Billion of Boots LBO Loans
May 15 (Bloomberg) — Deutsche Bank AG, (NYSE:DB), Citigroup Inc., (NYSE: C), and Royal Bank of Scotland Group Plc, (NYSE: RBS), are selling at least 2 billion pounds ($3.9 billion) of loans that funded the leveraged buyout of Alliance Boots LTD, (LON: AB)the first deal frozen when credit markets began seizing up in July.
Ltd.,

Chrysler Beating Cash, Operating Goals, Nardelli Says
May 15 (Bloomberg) — Chrysler LLC, the third-largest U.S. automaker, is ahead of its 2008 goals for generating cash and running the business, and will post a “significantly lower” loss than in 2007, Chief Executive Officer Robert Nardelli asaid.

Petrobras Hires 80% of Deepwater Drilling Rigs, Drives Up Costs
May 15 (Bloomberg) — Petroleo Brasileiro SA, (NYSE: PBR), Brazil’s state-controlled oil company, leased about 80 percent of the world’s deepest-drilling offshore rigs to explore prospects including the Western Hemisphere’s biggest discovery in decades.

Sina Shares Leap After Strong Results
China-based Internet media company Sina, (Nasdaq: SINA), said its first-quarter revenue jumped 39% year over year and exceeded its forecast, lifting its shares early Thursday.

Comcast Buys Social-Networking Site Plaxo
Comcast (NASDAQ: CMCSA), will acquire social networking site Plaxo in a move aimed at unifying social media across the Internet and television.

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Freddie Mac to Raise $5.5 Billion
Freddie Mac, NYSE:FRE, on Wednesday posted its third straight quarterly loss, though it narrowed substantially from the fourth quarter on accounting changes, as the agency announced plans to raise $5.5 billion in new core capital and said its regulator will also lower its excess-capital requirement.

Sony Swings to Net Profit As PlayStation Business Improves
TOKYO – Sony Corp, NYSE: SNE, swung to a profit in the fourth quarter as losses from the PlayStation videogame business shrank significantly and it said it expected both videogames and televisions to become profitable this year.

Icahn Buys Yahoo Shares; Mulls Board Proxy Contest
Billionaire investor Carl Icahn has purchased roughly 50 million Yahoo Inc., NASDAQ:YHOO, shares since Microsoft Corp., NASDAQ:MSFT, withdrew its offer to buy the Web company, and
is leaning toward launching a proxy contest to unseat at least part of Yahoo’s board, according to a person familiar with the situation.

April Foreclosures Hit New High
Foreclosure filings for April rose 65% on a year-to-year basis and 4% from March, as credit woes and tumbling home values hit homeowners, the foreclosure-listing service RealtyTrac said.

Stock Futures Signal Decline in U.S.
A bit later, the Labor Department will release its consumer price index, which should proffer clues into the rate of U.S. inflation, which has been closely watched amid ballooning commodities prices. The government is also scheduled to release its weekly crude-stockpile report at 10:30 a.m. EDT.

IAC and Liberty Resolve Spinoff Dispute
SAN FRANCISCO - After months of legal wrangling,
IAC/InterActive Corp., TSE IAC, has finally begun to spin off its divisions into five publicly-traded companies.

Global Economy Outlook Improves Amid Signs Credit Crisis Easing
May 14 (Bloomberg) — Confidence in the global economy improved for the second consecutive month in May on signs the worst of the credit squeeze may be over, a survey of Bloomberg users on five continents showed.

King Sees Faster Inflation, Limiting BOE Rate Cuts
The Bank of England said inflation will accelerate, breaching the government’s 3 percent limit for “several quarters,” and making it harder for policy makers to stave off a possible recession with interest-rate cuts.

ICAP’s Libor Alternative Lacks `Concrete Timetable’
ICAP Plc, LON: IAP, the biggest broker of transactions between lenders, has no “concrete timetable” for a U.S. alternative to the London interbank offered rate as it seeks to sign up banks.

Moody’s Adds CDO `Sensitivity’ Grades After Criticism
May 14 (Bloomberg) — Moody’s, NYSE:MCO, Investors Service plans to add new grades for collateralized debt obligations to show their “sensitivity” to market declines after the securities contributed to $335 billion of bank losses and writedowns.

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H-P Agrees to Buy EDS, In Challenge to Rival IBM
Hewlett-Packard Co., [NYSE:HPQ), said it agreed to pay about $13.25 billion, or $25 a share, in cash to buy Electronic Data Systems Corp., NYSE:EDS), setting the stage for a challenge to IBM’s, [NYSE:IBM), dominance in computer consulting and services.

Brazil Joins New Economic Powers
Brazil seemed out of its league when compared to dynamic emerging economies of Russia, India and China. But without great fanfare, Brazil’s economy has turned a big corner. Already a power in agriculture and natural resources, it has added an elusive ingredient: a currency with staying power.

Nissan Offers Bleak Forecast; Outlines New Business Plan
TOKYO — Nissan Motor Co., NASDAQ NSANY reported a leap in fiscal fourth-quarter net profit but forecast it’s biggest drop in earnings in nine years, as a perfect storm of rising material costs, a stronger yen and U.S. slowdown batter car makers’ earnings.

Carlyle to Invest in China Province
HONG KONG — Carlyle Group’s latest investment in China doesn’t involve writing a check. Instead, the Washington private-equity firm is investing in a relationship with a local government that it hopes will turn into a pipeline of deals.

Bernanke Says Fed to Boost Loans to Banks as Needed
May 13 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke said financial markets remain unsettled and the central bank will increase its auctions of cash to banks as needed.

U.S. Stocks Fall, Led by Banks; JPMorgan, Hewlett-Packard Drop
May 13 (Bloomberg) — U.S. stocks fell, led by banks, after Federal Reserve Chairman Ben S. Bernanke said financial companies may need to raise more capital, a report showed home prices tumbled and the outlook for securities firms’ profits worsened.

Australia Coal-Mine Floods Raise Costs of Cars, Planes, Washers
May 13 (Bloomberg) — At about 1 a.m. on Jan. 19, some of the heaviest rains in a century caused the Nogoa River in Queensland to burst its banks, sending 32 billion gallons of water into one of the largest coal mines in Australia.
“It was like watching Niagara Falls,” said Peter Westerhuis, 46, general manager of operations for the mine’s owner, Ensham Resources Pty. “It filled the whole pit up in five hours.”

Wal-Mart Net Increases; Shares Fall on Forecast
May 13 (Bloomberg) — Wal-Mart Stores Inc., NYSE:WMT), the world’s largest retailer and a benchmark for the U.S. economy, reported higher quarterly profit and said earnings may trail analysts’ estimates after record gasoline prices buffeted consumers.

Shanghai Stock Market Falls After Quake
One day after a giant earthquake in south China, shares on the mainland fell nearly 2%, but markets elsewhere in Asia were unaffected as traders mulled the possibility that a months-long global financial crisis could be nearing an end.

- Real Goods Solar Gets Chilly Reception
Real Goods Solar, NASDAQ:RSOL), is now a public company, and the markets have spoken: The freshman Nasdaq stock is looking more like So-So Solar.

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AIG Leasing Unit Mulls Split-Up

American International Group Inc.’s (NYSE:AIG) troubles are prompting one of the insurer’s most-profitable units — an airplane-leasing giant run by one of AIG’s largest shareholders — to consider seeking a split from the company, according to people familiar with the matter.

European Stocks, U.S. Futures Advance; Most Asian Shares Rise

Stocks in Europe rose for the first time in three days as an oil discovery in the North Sea and higher copper prices boosted the profit outlook for commodity companies. Most shares in Asia gained and U.S. index futures advanced.

Sovereign Plans to Raise $1.5 Billion in New Capital

Sovereign Bancorp Inc. (NYSE:SOV), the second- biggest U.S. savings and loan, plans to raise about $1.5 billion in capital as the company tries to rebound from losses in 2007.

Dollar Bulls Gain Control as Euro May Be Near Peak

For the first time since December 2005, futures traders are turning bullish on the dollar.

The difference in the number of wagers by hedge funds and other large speculators on a gain in the greenback versus the euro, known as net longs, was 21,315 on April 29, figures from the Commodity Futures Trading Commission in Washington show.

It’s Good to Be Google Again

It’s as if nobody ever doubted Google (NASDAQ:GOOG). Forget about the company’s anxiety-inspiring fourth-quarter results in January. Or the number of times users had clicked on ads during that same month. Or a stock price that had hovered around a 52-week low.

RIM Updates the BlackBerry

Research In Motion Ltd. (NASDAQ:RIMM) unveiled the latest version of its BlackBerry on Monday, with enhancements aimed at protecting the popular device’s market share against competitors such as Apple Inc.’s (NASDAQ:AAPL) iPhone.

Sprint First-Quarter Loss Widens as Customer Defections Mount

Sprint Nextel Corp. (NYSE:S), the wireless carrier that lost more than a million subscribers last year, said its first-quarter loss widened as customer defections soared.

HSBC Sets Aside $3.2 Billion for More Bad U.S. Loans

HSBC Holdings Plc (NYSE:HBC), Europe’s biggest bank by market value, set aside a smaller-than-estimated $3.2 billion for bad loans in the U.S. and said first-quarter profit was higher than a year earlier.

Morgan Stanley Fund Rakes In $4 Billion

Morgan Stanley (NYSE:MS) closed on a $4 billion new infrastructure fund, surpassing its original target of $2.5 billion and better positioning the Wall Street firm in the crowded field of investing in airports, roads, and other public-works projects world-wide.

Aussie Banks Feel Pressure, So Westpac Bids for Rival

Australia’s Westpac Banking Corp. (NYSE:WBK) Monday said it has approached rival lender St. George Bank Ltd. (ASX:SGB) with a takeover offer which would likely value the target at more than 15 billion Australian dollars ($14.15 billion) and mark the biggest shakeup of the Australian banking sector in years.

Cablevision May Be Close to Buying Newsday as Murdoch Drops Out

Cablevision Systems Corp. (NYSE:CVC), the New York-area cable provider, may be close to buying Long Island’s Newsday newspaper for $650 million after Rupert Murdoch’s News Corp. (NYSE:NWS) withdrew its offer.

Toyota Delays Mississippi Plant Amid Credit Crunch, Slowing Sales

A senior executive at Toyota Motor Corp. (NYSE:TM) said Monday that plans for a new auto assembly plant in Mississippi are being delayed by the credit crunch in the U.S. and worries about American auto sales.

DSG, Kesa Rise on Rumors Best Buy, Carphone May Bid

DSG International Plc (LON:DSGI) and Kesa Electricals Plc (LON:KESA), the largest U.K. electronics retailers, rose in London trading on speculation that Best Buy Co. (NYSE:BBY) may seek European bid targets after partnering with Carphone Warehouse Group Plc (LON:CPW).

Lundin Petroleum Rises After Reporting 81% Jump in Net Income

Lundin Petroleum AB (STO:LUPE), Sweden’s largest oil explorer, rose the most in six weeks in Stockholm trading after saying first-quarter profit jumped 81 percent.

Barneys CEO Is Expected to Quit

Nine months after Barneys New York was scooped up by Istithmar, the investment arm of the Dubai government, the upscale retailer’s chief executive, Howard Socol, is expressing dissatisfaction with the new owners and has told several acquaintances that he intends to resign as early as this week, according to people familiar with the situation.

Wal-Mart Profit Probably Rose as Shoppers Fled Sears

Wal-Mart Stores Inc. (NYSE:WMT), the world’s largest retailer, may report tomorrow that first-quarter profit rose after discounts lured Target Corp. (NYSE:TGT) and Macy’s Inc. (NYSE:M) customers coping with record gasoline prices.

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Citigroup Looks to Slim Down, Shed Over $400 Billion in Assets

Citigroup Inc. (NYSE:C) plans to wind down more than $400 billion in assets over the next two to three years as the financial-services giant moves to slim down under new Chief Executive Vikram Pandit.

Clear Channel Profit Falls Short; Sales Rise

Clear Channel’s (NYSE:CCU) first-quarter results fell short of Wall Street’s estimates, and the company declined to provide an outlook due to the pending buyout deal.

Circuit City Puts Itself Up for Sale, Hires goldman

Circuit City Stores Inc. (NYSE:CC), pressured by investor Mark Wattles to raise its stock price, put itself up for sale and will let Blockbuster Inc. (NYSE:BBI) and Carl Icahn (NYSE:IEP) review its books to prepare a bid.

Stocks Retreat in Europe and Asia; U.S. Index Futures Decline

Stocks dropped in Europe and Asia and U.S. index futures fell as oil reached an all-time high above $124 a barrel and American International Group Inc. (NYSE:AIG) said it needs to raise $12.5 billion after two straight record losses.

Wachovia’s Thompson Loses Chairman’s Title After Loss Mounts

Wachovia Corp. (NYSE:WB) Chief Executive Officer Kennedy Thompson, under fire for buying a California lender near the housing market’s peak in 2006, was stripped of his role as chairman of the company, which is the fourth-largest U.S. bank.

Crude Oil Rises to Record Above $124 a Barrel on Supply Concern

Crude oil rose to a record $124.73 a barrel in New York, set for the biggest weekly gain since March last year, on concern supplies of diesel and gasoline may be insufficient to meet demand during the U.S. summer driving season.

Harris Corp. May Consider a Sale

Electronics and defense company Harris Corp. (NYSE:HRS) has begun exploring its strategic options, and could eventually choose to sell itself, according to people familiar with the matter.

Property Mogul Poised to Take a Second Fall

Sixteen years ago, developer Ian Bruce Eichner was forced to give his lenders the keys to his newly finished office tower in Times Square. The empty building, a symbol of one of the worst downturns in U.S. commercial real-estate history, ultimately cost his lenders and partners about $200 million.

Google, Yahoo! Pact Looks Likely

Internet behemoth Google (NASDAQ:GOOG) is expected to work out a deal with Yahoo! (NASDAQ:YHOO), but it still has concerns over sharing proprietary information with its Web-search rival.

EDF Submitted British Energy Takeover Bid, People Say

Electricite de France SA (EPA:EDF), Europe’s biggest power producer, made a takeover offer for British Energy Group Plc (NYSE:BT), said two people with knowledge of the proposal.

Superior Industries Rises Most in 20 Years on Profit

Superior Industries International Inc. (NYSE:SUP), the world’s second-largest maker of automotive wheels, jumped the most in 20 years after posting a first-quarter profit that beat analysts’ estimates.

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Toyota Offers Grim Forecast As Net Income Falls 28%

Toyota Motor Corp.’s (NYSE:TM) fourth-quarter net profit dropped 28% as the Japanese car maker forecast that a stronger yen, soaring raw-material costs and a continued U.S. slowdown will likely lead to its first annual profit decline in seven years in the current fiscal year.

ECB, BOE Keep Main Rates Unchanged to Fight Inflation

The European Central Bank and the Bank of England kept interest rates unchanged today, trying to balance the risk of faster inflation against the danger that higher credit costs will drag down economic growth.

Wal-Mart, Costco Sales Gain as Shoppers Seek Bargains

Wal-Mart Stores Inc. (NYSE:WMT) and Costco Wholesale Corp. (NASDAQ:COST) reported April sales that rose more than analysts estimated as U.S. consumers, contending with gasoline at a record $3.65 a gallon, sought discounts on clothing and food.

Best Buy Plans New Investment In U.K. Retailer

Best Buy Co. (NYSE:BBY) will form a joint venture with Carphone Warehouse PLC (LON:CPW), Europe’s largest cellphone retailer, involving a £1.1 billion ($2.15 billion) investment by the U.S. retail giant, the companies said Thursday.

UBS to Return Investor Funds

UBS AG (NYSE:UBS) agreed to return about $35 million to Massachusetts cities and other government entities that bought investments for their short-term cash needs but found themselves unable to sell the securities easily because of the credit crunch.

Citigroup’s Pandit Will Face ‘Antsy’ Shareholders

Citigroup Inc. (NYSE:C) Chief Executive Officer Vikram Pandit will face shareholders impatient for a break from Charles O. “Chuck” Prince’s legacy when he presents his plan tomorrow to return the biggest U.S. bank to profitability.

Cablevision Plans Wireless Network

Cablevision Systems Corp. (NYSE:CVC) posted a quarterly loss despite a 10% jump in revenue and disclosed plans to build a wireless broadband network to serve its subscribers in the New York area.

News Corp. Shares Rise as Third-Quarter Sales Beat Projections

News Corp. (NYSE:NWS), the owner of the MySpace Web site and Fox television, jumped the most in a month after third-quarter sales beat analysts’ estimates because of advertising gains from the Super Bowl and “American Idol.”

Hope Arises for Housing-Bill Deal

Differences between the White House and Democrats in Congress over proposed housing-market legislation aren’t “insurmountable,” one of the administration’s top economic advisers said Wednesday.

Boeing Unions May Use 787 Delay for Contract Leverage

Boeing Co.’s (NYSE:BA) delayed 787 Dreamliner may give its two main unions extra leverage in contract talks with the world’s second-biggest commercial aircraft maker.

WellCare Surges for a Second Day on Buyout Conjecture

WellCare Health Plans Inc. (NYSE:WCG), the U.S. managed-care company being investigated for fraud, jumped for the second day in New York trading on speculation that rivals may buy it.

Manulife First-Quarter Profit Falls; CEO to Step Down

Manulife Financial Corp. (NYSE:MFC), Canada’s largest insurer, said quarterly profit fell for the first time in almost seven years, missing analysts’ estimates, on declining stock prices. Chief Executive Officer Dominic D’Alessandro plans to step down next May after 15 years in the post.

Intel’s Expensive WiMax Habit

Intel (NASDAQ:INTC) doubled down on its WiMax bet Wednesday, plunking $1 billion into the nascent high-speed wireless network championed by Sprint Nextel (NYSE:S) and Clearwire (NASDAQ:CLWR). But the real story behind Intel’s big-ticket investment is that the chipmaker really didn’t have any other choice.

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Yahoo’s Shares Tumble As Microsoft Ends Pursuit

Yahoo Inc. (NASDAQ:YHOO) shares fell more than 15% in trading Monday, erasing about $6.5 billion in market value, as Wall Street reset the Internet company’s worth after Microsoft Corp. (NASDAQ:MSFT) withdrew its acquisition offer.

Oil Rises Above $120 to Record on Concern Over Nigeria Attacks

Crude oil rose above $120 a barrel to a record in New York on concern that production disruptions in Nigeria, Africa’s biggest producer, will limit supplies.

U.S. Economy: ISM Services Index Unexpectedly Climbed

Service industries in the U.S. unexpectedly grew for the first time since December, helping the economy weather a credit contraction and manufacturing downturn.

Bank of America Should Skip Countrywide, Analyst Says

Bank of America Corp. (NYSE:BAC), the second- biggest U.S. bank, should abandon its takeover of Countrywide Financial Corp. (NYSE:CFC) because the mortgage lender’s loans may be written down by as much as $30 billion, Friedman, Billings, Ramsey & Co. said.

ResCap Says It May Not Be Able to Meet Debt Obligations in June

Residential Capital LLC, the mortgage-finance company owned by GMAC LLC, said it will still need to come up with $600 million by the end of June to meet its debt requirements even if its bond exchange offer is successful.

Merrill Hires goldman’s Peter Kraus to Head Strategy

Merrill Lynch & Co. (NYSE:MER) Chief Executive Officer John Thain expanded his cadre of former colleagues from goldman Sachs Group Inc. (NYSE:GS) by hiring Peter Kraus to oversee strategy and investments.

MTN Group Rises to Record on Bharti Airtel Bid Report

MTN Group Ltd., Africa’s largest mobile-phone company, climbed to a record in Johannesburg trading after the Financial Times reported Bharti Airtel Ltd. may be planning a bid for the company.

T-Mobile Finally Announces Its 3G Network

T-Mobile USA has officially joined the higher-speed wireless frey. The company, a unit of Deutsche Telekom (NYSE:DT), announced it has taken the first commercial step in the rollout of its 3G wireless, UMTS/HSDPA network starting in New York City. The new network will support voice and data services.

Will TNS’s Rejection of WPP Bid Start Takeover Battle?

Taylor Nelson Sofres PLC’s (LON:TNS) rejection of an unsolicited £950 million ($1.87 billion) offer from global marketing giant WPP Group PLC (LON:WPP) could be the start of a long battle for the London global-research company.

UBS May Cut 8,000 Jobs After 12 Billion-Franc Loss

UBS AG (NYSE:UBS) may cut as many as 8,000 jobs as it grapples with the biggest credit writedowns of any European bank and a 12 billion-franc ($11.4 billion) first-quarter loss.

Marvel Shares Rocket to New Highs

Shares of Marvel Entertainment (NYSE:MVL) surged to new 52-week highs Monday after the company once again beat earnings estimates and reported a very strong opening weekend for its Iron Man film.

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Economy Shed Jobs in April But Pace of Decline Slows

U.S. employment fell a fourth straight month in April, the government said Friday, but at a much slower pace than previous months, suggesting the economy may be starting to find its footing after several months of stagnation.

Fed Raises Cash Auctions to Ease Bank Borrowing Costs

The Federal Reserve increased its auctions of cash to banks and expanded the collateral it takes on from bond dealers, acting in concert with European central banks to alleviate persistent strains in credit markets.

Chevron Sales Jump as Crude Prices Rise

Chevron’s (NYSE:CVX) earnings and revenue surged in the first quarter, but profits from refining operations slumped as the price of gasoline failed to keep pace with the giant advance in crude oil in the past year.

U.S. Lexus, Mercedes Sales Fall as Affluent Succumb to Slowdown

U.S. sales of luxury auto brands including Toyota Motor Corp.’s Lexus and Daimler AG’s Mercedes- Benz fell in April, adding to evidence that the economic slowdown is causing even wealthy buyers to curb spending.

Bank of America May Not Guarantee Countrywide’s Debt

Bank of America Corp. (NYSE:BAC), the second- biggest U.S. bank, said it may not guarantee $38.1 billion of Countrywide Financial Corp.’s (NYSE:CFC) debt after taking over the mortgage lender, fueling speculation that Countrywide’s bondholders face renewed risk of default.

Hybrid Sales May Reach Record $125 Billion as Banks Tap Capital

Hybrid securities sales may reach a record of at least $125 billion this year as banks and brokers seek to replenish capital after being battered by losses from the collapse of the subprime mortgage market.

Weyerhaeuser Posts Loss Amid Weak Housing Demand

Weyerhaeuser Co. (NYSE:WY), hurt by rising energy and raw-materials costs, swung to a first-quarter loss as the company said its prices are at inflation-adjusted record lows because of weak new-home demand.

It’s Movie Time for iTunes

Major movie studios have agreed to allow Apple Inc.’s (NASDAQ:AAPL) iTunes to sell movies on the same day they are released on DVD, another sign of Hollywood’s acceptance of business models that encroach on traditional DVD-sales markets.

MicroStrategy Falls After Profit Misses Estimates

MicroStrategy Inc. (NASDAQ:MSTR), the maker of analytical software for EBay Inc. (NASDAQ:EBAY), sank as much as 16 percent in Nasdaq trading after first-quarter profit fell short of analysts’ estimates.

Viacom Reports 33% Rise in Net As ‘Rock Band’ Boosts Networks Unit

Viacom Inc. (NYSE:VIA.B) posted a 33% increase in first-quarter profit, driven by further strong sales of the “Rock Band” videogame and a continued resurrection of its cable television networks. “We have started 2008 with strong momentum,” Viacom Chief Executive Philippe Dauman told investors during a conference call.

Linens ‘n Things Seeks Chapter 11

Home retailer Linens ‘n Things filed for Chapter 11 bankruptcy Friday, blaming the housing market decline and a decline in consumer spending. The Clifton, N.J., company said it needs to prune unprofitable stores to recover from losses of $191 million on sales of $2.8 billion in 2007.

Nortel Loss Is Smaller Than Expected; Sales Rise 11%

Nortel Networks Corp. (NYSE:NT), North America’s biggest maker of telephone equipment, reported a first-quarter loss that was smaller than analysts’ estimates after completing a joint-venture contract with LG Electronics Inc.

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Exxon’s $10.89 Billion Net Disappoints Investors, Fuels Gathering Political Storm

Exxon Mobil Corp.’s (NYSE:XOM) $10.89 billion first-quarter profit report Thursday ranks as one of the biggest hauls in U.S. corporate history. But the results disappointed Wall Street and added to concerns about the future of the industry.

Toyota, Honda Cars Help Asian Brands Defy U.S. Slump

Sales gains for Toyota Motor Corp. (NYSE:TM), Honda Motor Co. (NYSE:HMC) and Nissan Motor Co. (NASDAQ:NSANY) led Asian automakers to record U.S. market share in April as rising gasoline prices stoked demand for the most fuel-efficient models.

Ballmer Says Microsoft Can Build Ad Business Without Buying Yahoo

Microsoft Corp. (NASDAQ:MSFT) Chief Executive Steve Ballmer said he is confident that his company can build a competitive online-advertising business without buying Yahoo Inc. (NASDAQ:YHOO), but that it “could just take more time.”

Lenovo Plans to Buy Companies to Reclaim No. 3 Spot From Acer

Lenovo Group Ltd. (OTC:LNVGY) is seeking acquisitions to claim the world’s third-largest personal-computer seller ranking lost to Acer Inc. last year, Chairman Yang Yuanqing said.

Sun Slammed on Swing to Loss

The Sun Microsystems (NASDAQ:JAVA) revival fizzled almost as quickly as it began, as the computer maker reverted to its erratic performance of years past while announcing red ink and layoffs. Sun executives blamed a weak U.S. economy for its ills, and insisted the company’s business opportunities remain strong.

Comcast’s Phone, Web Gains Salve TV Woes

Results at Comcast Corp. (NASDAQ:CMCSA), which posted a 13% decline in first-quarter profit, point to a new reality for U.S. cable-television companies: TV is less important to them than ever.

Oil Falls as Dollar Gain Causes Investors to Sell Commodities

Crude oil fell for a fourth day as the dollar rose limiting investment demand for commodities and easing inflation concerns, and as output in Nigeria, Africa’s largest producer, resumed after a strike.

HSBC ‘Likely’ to Avoid Hong Kong Rate Cut, Wong Says

HSBC Holdings Plc (NYSE:HBC) may refrain from cutting its Hong Kong benchmark lending rate today, diverging for the first time in two years from the direction of the city’s central bank as it tries to preserve loan margins.

BHP-Rio Tinto Deal Draws More Skeptics

Investors betting on the outcome of the biggest takeover deal out there — that of mining giants BHP Billiton (NYSE:BHP) and Rio Tinto PLC (LON:RIO) — are beginning to understand the old investment-banker saying: “Time wounds all deals.”

Samsung Heavy Leads Gains in Shipyards on Order Expectations

Samsung Heavy Industries Co. (PINK:SMSHF), the world’s second-largest shipbuilder, led advances in South Korean shipyards in Seoul trading on expectations that demand for oil exploration and production units will increase.

Home Depot Plans More Closings

Home Depot Inc. (NYSE:HD) announced plans for more store closings and a more-rigorous pullback on new-store openings, the do-it-yourself retailing giant’s latest efforts to boost profitability and free up cash for dividends and share repurchases.

Canon Shares Gain on Plan to Build U.S. Printer-Cartridge Plant

Canon Inc. (NYSE:CAJ), Japan’s biggest office equipment maker, rose the most in a week in Tokyo trading after the company said it plans to spend $600 million in the U.S. to expand laser-printer cartridge production.

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GM Posts $3.25 Billion Loss, Despite Strong Overseas Sales

General Motors Corp. (NYSE:GM) on Wednesday said it swung to a first-quarter net loss of $3.25 billion as continued weakness in North America and a charge related to its equity in finance unit GMAC LLC offset strong earnings overseas.

Citigroup Increases Stock Offering to $4.5 Billion

Citigroup Inc. (NYSE:C), seeking to bolster capital depleted by mounting losses, raised $4.5 billion in a stock sale, 50 percent more than it planned after “strong demand” from investors.

GDP Says Economy Grew, Avoided Recession

The government reported Wednesday that the U.S. economy grew at a rate of 0.6% in the first quarter of 2008, which was basically in line with expectations on Wall Street.

Time Warner Will Sever Cable Unit; Profit Declines

Time Warner Inc. (NYSE:TWX) Chief Executive Officer Jeffrey Bewkes said he will separate the cable-systems unit from the film and television businesses, bringing him a step closer to breaking up the world’s biggest media company.

Iraq Oil Revenue May Top Outlook

A new U.S. government report projects Iraq’s oil revenue will top a record $70 billion this year, adding fuel to a congressional push to force the Iraqi government to assume more responsibility for rebuilding the country.

ENER Comes Into Its Own

As if anyone didn’t already know, First Solar (NASDAQ:FSLR) lately has been one of the hottest stocks on the planet, tacking on 13% this year following a blistering 785% run in 2007. Today’s impressive first-quarter earnings report only justifies First Solar’s status as one of the true 800-pound gorillas in the momentum game.

Microsoft’s Next Move on Yahoo Is Imminent

Microsoft Corp. (NASDAQ:MSFT) is expected to make its next move in the three-month-old takeover standoff with Yahoo Inc. (NASDAQ:YHOO) as early as Wednesday, as the two sides have failed to reach any negotiated acquisition deal.

Merrill Lynch Global Mortgage Head Soltas to Leave

Scott Soltas, head of the global mortgage business at Merrill Lynch & Co. (NYSE:MER), is leaving the firm, according to people familiar with the decision.

Kellogg’s Profit Declines On Higher Costs, Tax Rate

Kellogg Co. (NYSE:K) posted a 1.9% drop in first-quarter net income as price increases and brand-building initiatives failed to fully offset the surging costs of ingredients and a higher tax rate.

Clariant Rises as Profit Beats Estimates on Job Cuts

Clariant AG (VTX:CLN), the world’s biggest maker of chemicals used in printing ink, rose the most since first trading in Zurich in 1995 after first-quarter profit beat analyst estimates.

United Online to Acquire FTD

United Online Inc. (NASDAQ:UNTD) announced plans to acquire FTD Group Inc. (NYSE:FTD) for about $456 million in cash, stock and notes in a deal that will combine the operator of the NetZero and Juno Internet-service providers with a huge network of florists and floral-products suppliers.

Garmin Tumbles as Results Disappoint

Garmin (NASDAQ:GRMN) lost ground Wednesday after the company missed analysts first-quarter earnings targets amid the global economic downturn. The Cayman Islands-based digital-navigation device maker posted net income of $147.8 million, or 67 cents a share, rising from $139.9 million, or 64 cents a share, in the year-ago quarter.

Bair Proposal Seeks Government Loans To Aid Homeowners

Federal Deposit Insurance Corp. Chairman Sheila Bair is finalizing a legislative proposal that would allow the Treasury Department to make direct loans for close to one million homeowners in the latest government initiative to stabilize the slumping mortgage market.

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High Oil Prices Boost Shell Profit, Offsetting Lower Refining Margins

Royal Dutch Shell (NYSE:RDS.A) and BP PLC (NYSE:BP) posted sharp net profit rises for the first quarter as the top two listed European oil companies continue to benefit from higher oil prices.

Mars’s Takeover of Wrigley Creates Global Powerhouse

Discussions between Wm. Wrigley Jr. Co. (NYSE:WWY) and Mars Inc. to blend two of the best-known names in sweets into the world’s largest candy maker began, like any important family gathering, around the kitchen table.

Daimler Net Falls 32% on Chrysler, Lower Truck Sales

Daimler AG (NYSE:DAI), the world’s second- largest maker of luxury vehicles, said first-quarter profit dropped 32 percent, more than estimated, after a stake in former U.S. unit Chrysler dragged down earnings and truck sales fell.

European Stocks Fall, Led by Michelin; U.S. Futures Decline

European stocks fell for the first time in five days as some earnings forecasts disappointed investors and lower metal prices weighed on mining shares. U.S. index futures dropped, while shares advanced in China.

United, US Airways May Give It Another Go

Thanks to the process of elimination, now may be the time for the airlines that most want to merge to go ahead and find a deal, despite the high risk. That likely means putting together United with US Airways (NYSE:LCC), whose leaders have been the two biggest advocates for industry consolidation over the past three years.

Strapped Airlines Seen Pushing Fares Higher

Airfares are on the rise as airlines keep a tighter rein on flights and seats — and that rise could accelerate if industry merger efforts bear fruit.

HBOS to Reinforce Capital Through Rights Issue

The United Kingdom’s largest mortgage lender, HBOS PLC, said Tuesday that it would launch a £4 billion ($7.96 billion) rights issue to reinforce its capital and bolster the bank against a worsening market.

Kerkorian Acquires 4.7% of Ford, Plans Offer for More

Kirk Kerkorian, a film and casino mogul with a history of investing in Detroit, is betting Ford Motor Co.(NYSE:F) is on track for a turnaround and poised to deliver big returns. Mr. Kerkorian’s investment company, Tracinda Corp., said it has amassed 100 million shares of Ford, a 4.7% stake, and announced a tender offer Monday for 20 million more at $8.50 each, a 13% premium to the stock’s closing price Friday.

Archer Daniels Profit Rises 42% on Grain Trading

Archer Daniels Midland Co. (NYSE:ADM), the world’s largest grain processor, said third-quarter profit rose 42 percent, topping analyst estimates, as it traded more grains and crushed more soybeans.

FDA’s Cholesterol-Drug Rejection Is Blow to Merck

The Food and Drug Administration rejected one of the most promising drugs in Merck & Co.’s (NYSE:MRK) development pipeline, the cholesterol medicine Cordaptive, delivering a big blow to efforts to reinvigorate the company’s turnaround and shore up its faltering share price.

CBS Profit Rises 14 Percent on Temporary Cut in TV Production

CBS Corp. (NYSE:CBS), owner of the second-most watched U.S. broadcast network, reported first-quarter profit rose 14 percent as the company temporarily cut production costs during the 100-day writers strike.

HSBC, Lone Star Extend Deadline on KEB Deal

HSBC Holdings PLC (NYSE:HBC) and a U.S.-based investment group will try for another three months to finish a deal under which HSBC would get controlling stake in a major South Korean bank, a transaction that’s become emblematic of the difficulties international investors face in South Korea.

Circuit City Gets Pressure From Big Investor for a Deal

Circuit City Stores Inc.’s (NYSE:CC) largest shareholder called on the consumer-electronics retailer to put itself up for sale, tacitly endorsed an unsolicited bid by Blockbuster Inc. (NYSE:BBI) and raised the prospect of financing the acquisition.

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Mars, Buffett Team Up in Wrigley Bid

Mars Inc. announced Monday an agreement to acquire Wm. Wrigley Jr. Co. (NYSE:WWY) for about $23 billion with financial backing from Warren Buffett’s Berkshire Hathaway Inc. (NYSE:WRB) in a deal that would remake the global confectionery landscape.

Verizon Profits Match Estimates, Sales Rise

Verizon (NYSE:VZ) matched estimates with its first-quarter results Monday, buoyed by strong growth in its wireless and high-speed Internet divisions.

Kerkorian Discloses 4.7% Stake in Ford, Seeks More

Kirk Kerkorian, the billionaire investor who tried to overhaul General Motors Corp. (NYSE:GM) three years ago, said he has bought a 4.7 percent stake in Ford Motor Co. (NYSE:F) and plans to buy more.

Continental Rejects Merger Overtures

Abruptly ending talks with United Airlines parent UAL Corp. (NASDAQ:UAUA), Continental Airlines Inc. (NYSE:CAL) said it would stay independent for the time being despite efforts by rival carriers to merge.

RBS May Cut About 7,000 Investment Banking Jobs, People Say

Royal Bank of Scotland Group Plc (NYSE:RBS), Britain’s second-largest bank, may cut about 7,000 jobs following the acquisition of ABN Amro Holding NV’s securities unit and credit market losses, said two people with knowledge of the plan.

Oil Rises to Near $120 After U.K. Refinery Strike

Crude-oil futures traded higher in London Monday buoyed by supply fears following the closure of the 700,000 barrel-a-day Forties North Sea pipeline system and strike action from oil workers in Nigeria.

EU Predicts Surge in Inflation On Uncertain Economic Outlook

The European Union said Monday that euro-zone economic inflation would surge more than expected this year as growth slows down from a recent boom.

Uranium Holding May Spend $8.6 Billion in Russia

Uranium Holding ARMZ, Russia’s state-owned mining company, may spend $8.6 billion to triple output with help from billionaire Oleg Deripaska, Canada’s Cameco Corp. (NYSE:CCJ) and Japan’s Mitsui & Co. Ltd. (NASDAQ:MITSY)

Microsoft Confronts Tough Choice on Yahoo

Steve Ballmer is facing one of the biggest decisions of his career: Walk away from Microsoft Corp.’s (NASDAQ:MSFT) $42.7 billion acquisition offer for Yahoo Inc. (NASDAQ:YHOO) or launch the largest hostile takeover battle in tech-industry history.

Humana’s Profit Rises 13% on Health Plans for Elderly

Humana Inc. (NYSE:HUM), the second-biggest provider of government-funded medical benefits, reported a 13 percent increase in first-quarter profit on enrollment gains in U.S. Medicare health plans for the elderly.

Vertex Hep C Drug Still Leads Schering

Competing hepatitis C drugs from Vertex Pharmaceuticals (NASDAQ:VRTX) and Schering-Plough (NYSE:SGP) went “Mano-a-Mano in Milano” this weekend at a European liver disease meeting, and it was really no contest.

Victory Vertex.

Electrolux Reports Quarterly Loss on U.S. Slowdown

Electrolux AB (OTC:ELUXY), Europe’s largest appliance maker, reported its first quarterly loss in more than two years and lowered its full-year outlook as North American consumers rein in their spending.

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OCC Expected to Announce Action Against Wachovia

The Office of the Comptroller of the Currency is expected to announce an enforcement action against Wachovia Corp. (NYSE:WB) Friday morning, people familiar with …

Dollar Climbs Higher; Futures Gain

Futures suggested stock markets would build on the gains that were carved out in previous sessions. The dollar continued to climb but crude prices turned up.

Microsoft Net Falls 11%; Outlook Low-End

Microsoft Corp. (NASDAQ:MSFT) reported a drop in net income in its fiscal third quarter and issued downbeat remarks about prospects for completing a deal to buy Yahoo Inc. (NASDAQ:YHOO)

Ericsson Surges 27% as Profit, Sales Top Estimates

Ericsson AB, the world’s largest maker of wireless networks, rose the most in at least two decades in Stockholm trading after reporting first-quarter profit and sales that beat analysts’ estimates.

AOL’s Web Sites Show Gains in Traffic

A yearlong effort by AOL to transform its content Web sites into crowd-pleasers is beginning to pay off. Traffic to the sites grew 15% to 56.5 million unique U.S. visitors in the first quarter from a year ago, according to comScore Media Metrix.

U.S. Agency Helps Prop Up Housing Market

The Bush administration regularly dismisses the idea of stepping in to prop up the housing market. Behind the scenes, a government agency is doing just that.

Nomura Posts Record Loss on Bond-Insurance Provisions

Nomura Holdings Inc. (NYSE:NMR), Japan’s largest securities firm, reported a record quarterly loss after $1.26 billion of provisions for charges related to bond insurers.

Commercial Banks Step to Fed Window

U.S. commercial banks this week increased their use of the Federal Reserve’s discount window while investment banks cut their use of a direct-lending program, a sign that the focus of credit strains may be shifting from brokers to depository institutions.

Honda’s Profit Plunges Most in 10 Years on Taxes, Yen

Honda Motor Co. (NYSE:HMC), Japan’s second- largest automaker, reported the biggest drop in profit in at least 10 years as it put aside money for a possible tax settlement and the dollar weakened against the yen.

Delta, Northwest Chiefs Face Skeptical Lawmakers Over Deal

The chief executives of Delta Air Lines Inc. (NYSE:DAL) and Northwest Airlines Corp. (NYSE:NWA) on Thursday tried to assuage skeptical lawmakers’ concerns about the carriers’ proposed combination, defending it as the best way to cope with surging fuel prices.

American Express feeling pinch from economy

American Express (NYSE:AXP) is feeling the pinch from a worsening U.S. economy as financially stressed consumers make fewer payments less often, analysts said Friday.

U.K. Economy Expands at Slowest Pace in Three

The U.K. economy grew at the slowest pace since 2005 in the first quarter as the seizure in credit markets hurt banks and falling house prices threatened consumer spending.

Boeing CEO Fights Headwind

For a man who has rung up record profit during three years on the job, Boeing Co. (NYSE:BA) Chairman and Chief Executive Jim McNerney finds himself in a strange predicament: His company’s stock is being pummeled, and his legacy as CEO is already on the line.

Volvo, MAN Profits Surge on E. European Truck Sales

Volvo AB (OTC:VOLVY) and MAN AG (FRA:MAN) reported first-quarter earnings that beat analyst estimates as Eastern Europe led truck sales higher.

Coventry Health’s profit rises 3%

Coventry Health Care Inc. (NYSE:CVH) said its net income ticked about 2.7% higher in the first quarter. The Bethesda, Md.-based health insurer said net income for the three months ended March 31 was $125 million, or 81 cents a share, compared with the $121.7 million, or 76 cents a share, reported in the year-ago period.

Mozilo’s Pay Plunged 79%; He Still Made $10.8 Million

Top Countrywide Financial Corp. executives took pay cuts in a disastrous year for the company. Total compensation for Angelo Mozilo, chairman and chief executive officer of Countrywide, dropped 79% to $10.8 million last year, the mortgage lender disclosed in a securities filing.

Thain Defends Merrill Board on Credit Crisis

In his first annual meeting at Merrill Lynch & Co. (NYSE:MER), John Thain defended directors from the “20/20 hindsight” of shareholders who blame them for the Wall Street brokerage’s mortgage-related losses. Investors got some relief, though, when the board voted after the meeting to maintain Merrill’s dividend, driving its shares and broader markets higher.

News Corp. Bid for Newsday May Face Political Snags

News Corp.’s (NYSE:NWS) bid to buy Newsday will face regulatory hurdles, but political attacks on the deal could be more of a long-term problem as News Corp. Chairman Rupert Murdoch tries to seal the deal.

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Ford Swings to a Profit on Cost Cuts, Strength at International Divisions

Ford Motor Co. (NYSE:F) Thursday said it swung to a first-quarter profit on cost reductions in North America and strong profits in its international regions led by Europe.

Credit Suisse Posts SF2.15 Billion Loss on Writedowns

Credit Suisse Group (NYSE:CS), Switzerland’s second-biggest bank, reported its first loss in almost five years on 5.3 billion Swiss francs ($5.2 billion) of writedowns linked to deteriorating credit markets.

Euro Falls Versus Dollar as German Business Confidence Slumps

The euro dropped against the dollar and yen as an industry report showed German business confidence fell to the lowest in more than two years in April, indicating the U.S. economic slowdown is spreading to Europe.

Stock Futures Slip, Earnings in Focus

U.S. stock futures headed lower Thursday as worries about earnings growth for Amazon (NASDAQ:AMZN), Whirlpool (NYSE:WHR) and Starbucks (NASDAQ:SBUX) dented sentiment, though corporate results weren’t entirely bad, with Ford Motor returning to profitability.

Wendy’s to Sell Itself to Peltz’s Triarc to Combine With Arby’s

Wendy’s International Inc. (NYSE:WEN), the third-biggest U.S. hamburger chain, agreed to sell itself to billionaire investor Nelson Peltz’s Triarc Cos. (NYSE:TRY.B) for $2.34 billion after seeking a buyer for the past year.

Durable Goods Orders Slide Again

Demand for big-ticket items in the U.S. unexpectedly declined for a third-straight month in March, a government report showed, suggesting no end in sight yet for the downturn gripping the manufacturing sector and broader economy.

Motorola Posts Wider Loss as Phone Shipments Decline

Motorola Inc. (NYSE:MOT) posted a wider first- quarter loss and gave a forecast that fell short of analysts’ projections, hurt by a lack of new mobile phones to compete with Apple Inc. (NASDAQ:AAPL) and Nokia Oyj (NYSE:NOK).

CEO Says Microsoft Could Forgo Yahoo

Steve Ballmer says Microsoft Corp. (NASDAQ:MSFT) is willing to go it alone rather than buy Yahoo Inc. (NASDAQ:YHOO) And he has a reason besides opposition from the Internet company: skepticism among his own employees.

AstraZeneca Profit Falls as Nexium Sales Decline

AstraZeneca Plc (NYSE:AZN), the U.K.’s second- largest drugmaker, reported an unexpected decline in first- quarter profit as sales of ulcer treatment Nexium fell in the U.S. and western Europe. Shares dropped the most in six months.

Foreclosure-Relief Plan Gains

A House panel Wednesday approved $15 billion in loans and grants for local governments to purchase the growing number of foreclosed homes throughout the country.

Wii Helps Boost Nintendo’s Net

Nintendo Co. (OTC:NTDOY) reported a 48% increase in its annual net profit as its Wii videogame console and DS portable game device continued to sell strongly, but it set a conservative forecast for the current fiscal year ending March 2009 as a stronger Japanese yen reduces the value of overseas sales.

3M Earnings Fall 28% After Year-Earlier Gain on Sale

3M Co. (NYSE:MMM), the maker of 50,000 products from Scotch-brand tape to electronic signs, said net income fell 28 percent from last year’s first quarter, which was boosted by proceeds from the sale of a pharmaceutical business.

PepsiCo Profit Rises on International Snack Sales

PepsiCo Inc. (NYSE:PEP), the world’s second- largest soft-drink maker, said first-quarter profit rose 4.7 percent on international snack and food sales.

Bristol-Myers Profit Falls 4.2% on Restructure Costs

Bristol-Myers Squibb Co. (NYSE:BMY) said profit fell 4.2 percent as restructuring costs offset soaring sales of its blood thinner Plavix. The company announced it would sell as much as 20 percent of its infant-formula unit.

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Apple Earnings Rise 36%; Profit Forecast Falls Short

Apple Inc. (NASDAQ:AAPL) reported a 36 percent jump in second-quarter profit after winning customers for Macintosh personal computers. The stock fell after the earnings forecast fell short of some projections.

Starbucks Blames Weak Economy In U.S. for Lower Outlook for Year

Starbucks Corp. (NASDAQ:SBUX) projected lower fiscal second-quarter profits and cut its full-year earnings forecast amid continued U.S. sales weakness. 

Amazon’s Forecast Gives Pause

Amazon (NASDAQ:AMZN) edged out Wall Street’s estimates for the first quarter but lowered its outlook for operating income for the full year.

Motorola Settles Iridium Unit’s Creditor Claims

Motorola Inc. (NYSE:MOT), the world’s third- biggest mobile-phone maker, settled claims by creditors of its bankrupt former satellite unit Iridium LLC, eliminating the last obstacle to winding up a nine-year bankruptcy. 

Boeing, Microsoft Boost Dow; Nasdaq Climbs as Techs Rise

Major stock benchmarks ended trade on Wednesday mildly better off than they started, led by shares of technology companies, as new earnings reports offered little fresh guidance to anxious investors.

Philip Morris Smokes Estimates

Philip Morris International (NYSE:PM), the cigarette seller that was recently spun off from Altria (NYSE:MO), topped analysts’ estimates for the quarter in which it became an independent company. 

Qualcomm Profit Climbs 5.5% on Demand for Phone Chips

Qualcomm Inc. (NASDAQ:QCOM), the biggest maker of mobile-phone chips, reported a 5.5 percent rise in second-quarter profit and increased its annual forecast as demand grew for devices that use its technology.

Liberty Mutual Agrees To Buy Safeco for $6.2 Billion

Liberty Mutual Group said Wednesday it has agreed to acquire Safeco Corp. (NYSE:SAF) at a sharp premium in a deal valued at $6.2 billion.

Delta’s Loss Worse Than Expected

Delta Air Lines (NYSE:DAL) reported a worse-than-expected adjusted $274 million first-quarter loss driven by high fuel costs, but was optimistic it would return to profitability in the current quarter.

Aflac First-Quarter Profit Rises 14% on Japan Sales

Aflac Inc. (NYSE:AFL), the world’s largest seller of supplemental health insurance, said profit rose 14 percent as sales advanced in Japan, and predicted full-year results will come in at the high end of its previous forecast.

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RBS to Sell $24 Billion in Shares After Markdowns

Royal Bank of Scotland Group Plc (NYSE:RBS), the U.K.’s second-biggest lender, will sell 12 billion pounds ($23.7 billion) of new shares to investors in Europe’s largest rights offer to boost capital depleted by writedowns.

AT&T Hits Sales, Profit Targets

AT&T (NYSE:T) posted first-quarter numbers that were in line with estimates, buoyed by strong growth in its wireless, broadband and enterprise divisions.

Overseas Growth Boosts McD’s

McDonald’s Corp. reported a 24% rise in first-quarter net income on strong global growth and U.S. market-share gains amid the weak economy.

UnitedHealth Misses Estimate, Reduces 2008 Outlook

UnitedHealth Group Inc.’s (NYSE:UNH) first- quarter earnings missed analyst estimates as sales to employers and individuals faltered and investment income fell. The company cut its profit goals and dropped 13 percent in early trading.

Fuels Prices Weigh on UAL, JetBlue

UAL Corp.’s (NASDAQ:UAUA) first-quarter net loss ballooned as jet-fuel costs soared 51% and the United Airlines parent said it would shrink capacity and cut jobs amid an increasingly harsh airline-operating environment.

CIT Group Prices $1.5 Billion Stock Offering

CIT Group (NYSE:CIT) on Tuesday priced $1.5 billion in concurrent common and preferred stock offerings. The commercial financier said it would offer 91 million shares of common stock for $11 a share and 10 million shares of noncumulative, perpetual convertible preferred stock, with a liquidation preference of $50 a share.

Banks Offer to Enter Arbitration Over Clear Channel Funding

A group of banks involved in the buyout of Clear Channel Communications Inc. (NYSE:CCU) has offered to enter into binding arbitration with private-equity firms Thomas H. Lee and Bain Capital Partners to resolve their dispute about funding the $19.4 billion deal.

Yahoo Report Is Chance to Coax Higher Microsoft Bid

Yahoo! Inc. (NASDAQ:YHOO) gets a chance today to show it’s worth more than the $44.6 billion Microsoft Corp. (NASDAQ:MSFT) is offering for the owner of the second most popular Internet search engine.

Samsung’s Chairman To Quit Amid Tax Charges

In a big shake-up at South Korea’s largest conglomerate, Samsung Group Chairman Lee Kun-hee said he will resign in the wake of an indictment over tax violations.

Citi Maintains Dividend

Citigroup (NYSE:C) on late Tuesday declared a 32-cent dividend on its common shares. The announcement come as some relief to shareholders, who already endured a 41% cut to it dividend in January. Citi on Friday posted a $5.1 billion first-quarter loss and said it was slashing 9,000 jobs to cut costs.

Texas Instruments Issues Disappointing Outlook

Texas Instruments Inc. (NYSE:TXN) reported a 28% rise in first-quarter profit, but its outlook for the second quarter fell short of Wall Street expectations.

News Corp. Nears Deal to Buy Newsday

Tribune Co. (NYSE:TXA) is closing in on an agreement to sell its Long Island newspaper Newsday to News Corp. (NYSE:NWS) for about $580 million, according to individuals familiar with the situation.

ABC Learning Sells 60% of U.S. Unit To Morgan Stanley Private Equity

Australian childcare provider ABC Learning Centres Ltd. (ASX:ABS) Tuesday finalized a deal to sell 60% of its U.S. business to Morgan Stanley Private Equity and also said several senior executives and directors will step down.

DuPont Profit Jumps 26% on Crop Seeds, Pesticides

DuPont Co. (NYSE:DD), the third-biggest U.S. chemical company, said first-quarter profit rose 26 percent as record grain prices boosted sales of pesticides and genetically modified corn and soybean seeds.

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Bank of America’s Net Drops 77%

Bank of America Corp. ( NYSE:BAC) posted a 77% drop in net income Monday, as provisions for credit losses quintupled to $6 billion and investment banking write-downs cost at least another $1.91 billion.

NatCity Close To $6 Billion Cash Infusion

After weeks of searching for a way to ease the financial distress caused by the mortgage rout, National City Corp. (NYSE:NCC) was closing in Sunday night on a capital infusion of more than $6 billion from a private-equity firm and a number of large shareholders, according to people familiar with the matter.

RBS Plans Fund to Transfer $2.3 Billion LBO Loan Risk

Royal Bank of Scotland Group Plc (NYSE:RBS), the U.K.’s second-biggest lender, plans to start a fund to transfer the risk of losses from 1.5 billion euros ($2.3 billion) of high-yield loans, according to three people with knowledge of the proposal.

Merck Profit Gains on New Drugs, Partnership Payment

Merck & Co. (NYSE:MRK), the third largest U.S. drugmaker, said first-quarter profit gained 94 percent on increased demand for its diabetes pill and cervical cancer vaccine and a $2.2 billion payment from AstraZeneca Plc (NYSE:AZN).

Can Blockbuster Afford Circuit City?

Circuit City Stores Inc. (NYSE:CC) is demanding that Blockbuster Inc. (NYSE:BBI) prove it can finance an all-cash offer before proceeding with takeover negotiations. The big question is how Blockbuster will do that.

Yahoo Hopes a Solid Profit Report Bolsters Its Leverage

Yahoo Inc. (NASDAQ:YHOO) will get more attention than usual when it announces earnings Tuesday, and not just from investors wondering how its revenue stacks up against Google Inc.’s (NASDAQ:GOOG) strong quarter. This week’s report will be an opportunity for Yahoo to try to demonstrate that it is worth more than Microsoft Corp.’s (NASDAQ:MSFT) unsolicited takeover bid.

Eli Lilly Misses Estimates on Inhaled Insulin Charge

Eli Lilly & Co. (NYSE:LLY), the world’s biggest maker of psychiatric drugs, missed analysts’ earnings estimates after booking higher charges than the company predicted for abandoning inhaled insulin. Shares fell 4 percent in early trading.

Gannett’s Profit Falls 8.9% As Ad-Sales Slump Worsens

Gannett Co. (NYSE:GCI), the largest U.S. newspaper publisher, posted an 8.9% drop in first-quarter net income amid an ad-sales slump that has deepened an industry downtown.

Carlyle, Deutsche Seek to Raise $500 Million CLO, People Say

Carlyle Group, the world’s second largest private-equity firm, is raising a $500 million collateralized loan obligation to buy high-risk, high-yield debt being sold by banks at discounted prices, according to people with knowledge of the plan.

XM, Sirius Still Have Much to Prove

The delayed merger between satellite radio operators Sirius (NASDAQ:SIRI) and XM Satellite Radio(NASDAQ:XMSR) may be the least of their problems, as concerns over subscriber adds, rising churn rates and lower revenue per subscriber are leaving analysts cautious heading into their first-quarter numbers.

Ford Will Boost Workforce at Russian Plant by 1,500

Ford Motor Co. (NYSE:F), the world’s third- largest carmaker, will add 1,500 workers at a factory near S