TOP STORIES
GOLDMAN SACHS PROFIT TOPS ESTIMATES
Goldman Sachs said 1Q net income fell 10% to $2.03 billion, but
results topped analysts' estimates. EPS came to $4.02; analysts
expected $3.45. The better-than-expected results driven by strength
in investment banking pushed shares up 1%.
GE POSTS DECLINES IN PROFIT, REVENUE
General Electric's profit fell 15% to $3 billion, or 30c a
share, as revenue slipped 2.2% to $34.18 billion. CEO Jeff Immelt
said GE saw strength in most markets, including power and water,
aviation and oil and gas. Shares rose 2%.
U.S. STOCKS PAUSE AFTER THREE-DAY RALLY
Stocks paused as weak earnings reports from some blue-chip
companies weighed on the Dow Jones Industrial Average. The Dow was
down about 10 points, while the Nasdaq Composite and S&P 500
were slightly higher.
PUTIN KEEPS FORCE AS OPTION IN UKRAINE
Russian President Vladimir Putin said he hoped not to send
Russian troops into Ukraine but didn't rule it out, accusing the
Kiev government of committing "a serious crime" by using the
military to quell unrest.
MORGAN STANLEY'S PROFIT RISES 56%
Morgan Stanley's 1Q profit rose to $1.51 billion as it posted
higher revenue in each of its major businesses, including
surprisingly good results from its fixed-income trading arm. Shares
rose 2% as results beat analyst estimates.
U.S. JOBLESS CLAIMS RISE SLIGHTLY TO 304,000
Initial claims for jobless benefits rose 2,000 to a seasonally
adjusted 304,000 in the week ended April 12 but remained near a
seven-year low, indicating an improving labor market. Economists
expected 315,000 new claims last week.
JUDGE DENIES 'PARK IT NOW' REQUEST IN GM RECALL
A federal judge gave General Motors a pass, ruling against
forcing the auto maker to tell owners of the 2.6 million vehicles
covered in the ignition-switch recall to park their cars until they
are fixed.
BARNES & NOBLE CHAIRMAN REDUCES STAKE
Barnes & Noble chairman and biggest shareholder Leonard
Riggio sold nearly a quarter of his stake in the retailer for $64
million, he disclosed, fueling questions about the retailer's
prospects. Shares drop 9%.
BLACKSTONE'S EARNINGS RISE 58%
Blackstone Group said its first-quarter earnings rose 58% to
$814 million, or 70c a share. The results, the best quarter to
start a year since Blackstone became a public company, were largely
due to the buyout business. Shares rose 2%.
PHILADELPHIA FED APRIL BUSINESS INDEX JUMPS
Manufacturers in the Mid-Atlantic region have reported
much-better business conditions this month, with the Philadelphia
Fed's index of general business activity in regional factory sector
coming in at 16.6 in April, from 9.0 in March.
POST HOLDINGS TO BUY MICHAEL FOODS FOR $2.45 BILLION
Post Holdings Inc. confirmed it will acquire Michael Foods Inc.
for $2.45 billion, expanding the cereal maker's menu of breakfast
offerings into eggs and dairy goods.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
The Wall Street Journal
CITIGROUP RECEIVED MIXED SIGNALS ON 'STRESS TEST'
The Federal Reserve's New York office indicated to Citigroup
that the bank would have more time to fix certain "stress test"
planning problems before Fed officials in Washington last month
gave it a failing grade.
The Wall Street Journal
FACEBOOK TO NOTIFY USERS WHEN FRIENDS ARE NEARBY
Facebook users will soon be able to receive notices on their
mobile app when they're near friends, signaling an effort by the
online social network to play a bigger role in real-world
interactions.