TOP STORIES
MORGAN STANLEY'S RESULTS IMPROVE
Morgan Stanley's 1Q profit rose 59% to $2.39 billion as it
benefited from busy markets and a flurry of corporate mergers.
Revenue was $9.91 billion, or $9.78 billion excluding accounting
adjustments. Results beat estimates. Shares up 1%.
U.S. STOCKS TRADE HIGHER
U.S. stocks rose, rebounding from steep declines on Friday, amid
news of more stimulus from China and upbeat corporate news.
European stocks added to the positive tone.
COMCAST, TIME WARNER CABLE TRYING TO SAVE MERGER
Comcast and Time Warner Cable are slated to sit down for the
first time on Wednesday with Justice Department officials to
discuss potential remedies in hopes of keeping their $45.2 billion
merger on track, according to people familiar with the matter.
CHINA CUTS BANKS' RESERVE RATIO
China central bank's one-percentage-point cut in the reserve
requirement, announced Sunday, was the second reduction in less
than a quarter and the biggest since December 2008, freeing up
about $200 billion for banks to lend.
HASBRO REVENUE, PROFIT TOP EXPECTATIONS
Hasbro posted better-than-expected 1Q revenue and profit, as the
toy maker logged growth despite foreign exchange impacts. Hasbro's
Transformers toys and preschool division helped drive growth.
Shares up 8%.
GROUPON TO SELL 46% STAKE IN TICKET MONSTER
A consortium including KKR will buy a controlling stake in
Ticket Monster, South Korea's No. 2 mobile commerce company, from
Groupon in a deal valuing the company at $782 million.
HALLIBURTON FEELS IMPACT FROM LOWER OIL PRICES
Halliburton posted a 1Q loss as it continues to feel the impact
from lower oil prices. The latest quarter included $823 million in
write-downs, write-offs and severance charges, among other items.
Revenue and earnings before items topped analysts'
expectations.
OIL PRICES FALL ON U.S. DOLLAR STRENGTH
Oil prices fell as the U.S. dollar rose, reversing earlier gains
after China announced fresh economic stimulus. June Brent crude
fell 1.4% to $62.60 a barrel on London's ICE Futures exchange.
Nymex crude futures traded at $55.27, down 47c.
ABE: U.S., JAPAN "CLOSE" TO AGREEMENT ON TPP
Japanese Prime Minister Shinzo Abe said Tokyo and Washington are
near an agreement on a major Pacific free-trade pact, a deal that
would help advance President Barack Obama's economic agenda and
tighten ties between the two allies as they seek to counter China's
growing influence.
DRAGHI: ECB ACTIONS CONTINUE "TO UNDERPIN CONFIDENCE" IN THE EURO
The European Central Bank's basket of policy measures as well as
its review of banks' balance sheets has further cemented confidence
in the single currency, the central bank's president said.
CHICAGO FED INDEX SIGNALS SLOWER GROWTH
Soured by lagging production, a snapshot of the U.S. economic
landscape last month slipped deeper into sagging growth. The
Chicago Fed National Activity Index moved down to -0.42 in March
from February's -0.18.
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Grand Central
WHAT IF THIS IS AS GOOD AS IT GETS?
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Capital Journal Daybreak
OBAMA TO LOBBY UAE TO BACK IRAN DEAL
President Obama's sales pitch to garner support from the Arab
states for his Iran diplomacy pushes forward this week. Sign up
here for The Wall Street Journal's morning rundown of the biggest
news driving Washington.