TOP STORIES
U.S. NEW-HOME SALES FALL 14.5% IN MARCH
Sales of newly built homes plunged in March, the latest sign of
a faltering U.S. housing market that has struggled to maintain its
momentum in the last year.
STOCKS DOWN ON DATA, EARNINGS
U.S. stocks edged lower after housing data fell short of
expectations and as investors digested mixed earnings reports. The
Dow Jones Industrial Average was down about 20 points in midday
trading.
BOEING'S PROFIT SLIDES ON PENSION COSTS
Boeing's 1Q earnings fell 13% to $965 million, or $1.28 a share,
as costs tied to changes to its retirement plans masked continued
demand for its jetliners. Shares rose 2% as results beat
expectations and Boeing raised its earnings guidance.
P&G PROFIT EDGES UP
Procter & Gamble's profit grew just slightly in the first
three months of the year, as the world's largest consumer-products
maker struggled to expand in slow-growing markets where shoppers
have cut back their spending on many everyday items.
DELTA AIR LINES PROFIT JUMPS, DESPITE WEATHER TROUBLES
Delta Air Lines said 1Q earnings surged to $213 million, or 25
cents a share, with higher passenger demand. Revenue rose 4.9% to
$8.92 billion.
RUSSIA FOREIGN MINISTER WARNS UKRAINE
Russia warned that any attack on its citizens in Ukraine would
be considered an attack on Russia itself, as the Ukrainian
government resumed its military operation against pro-Russian
militants who have taken over several cities in the eastern party
of the country.
GROWTH IN EURO ZONE ACCELERATES
Economic growth in the euro zone accelerated at the start of 2Q,
but businesses once again cut their prices, a sign that worries
over deflation are far from over.
LG HOUSEHOLD & HEALTH CARE MAY BID FOR ELIZABETH ARDEN
LG Household & Healthcare said it is considering a bid for
U.S. cosmetics company Elizabeth Arden, which would substantially
boost the South Korean cosmetics and health-food manufacturer's
stable of products.
FTC APPROVES FACEBOOK'S OCULUS PURCHASE
Facebook's purchase of virtual-reality headset maker Oculus VR
has secured FTC approval. The social-media giant, scheduled to post
quarterly results after the market closes, moved to buy the
20-month-old maker of virtual reality goggles last month in a $2
billion cash-and-stock deal.
CRUDE OIL FALLS AS OIL SUPPLIES HIT ALL-TIME HIGH
Oil futures slipped to two-week intraday lows, then pared their
losses, as government data showed domestic crude-oil supplies at an
all-time high. June oil fell 2c to $101.73 a barrel.
PALESTINIAN FACTIONS AGREE TO FORM UNITY GOVERNMENT
The two biggest rivals in Palestinian politics said they will
form a unity government, which if successful would put an end to a
seven-year political divide between the West Bank and Gaza
Strip.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
The Wall Street Journal Online
WHY THE HOUSING MARKET HAS SLOWED
Housing's rocky recovery could signal weakness more broadly in
the economy, reflecting the lingering damage from the bust that has
left millions of households unable to participate in any housing
recovery, writes Nick Timiraos.
Money Talks
WILL THE BOE BE CAUGHT ON THE HOP AGAIN?
When conditions deteriorated in the wake of the financial
crisis, the Bank of England was criticized for being slow to react.
Could the U.K.'s central bank prove just as dilatory into the
recovery, asks Alen Mattich.