TOP STORIES 
 
OIL RALLIES AS INVESTORS SHRUG OFF RISE IN U.S. STOCKPILES 

Oil prices bounced back, with investors focusing on tightening supply in Canada and Libya.

U.S. JOBLESS CLAIMS RISE BY 17,000 

The number of Americans filing for new unemployment benefits jumped for the second week running but remained at a low level consistent with a strengthening job market.

U.S. STOCKS TRADE HIGHER 

U.S. stocks traded higher Thursday, as rebounding oil prices helped rekindle investors' appetite for risk.

ALIBABA PROFIT AND REVENUE INCREASE 

Chinese e-commerce giant Alibaba Group said Thursday its fiscal fourth quarter net profit surged 86% from a year earlier, boosted by disposal gains on investments and businesses.

MERCK REVENUE FALLS ON GENERIC COMPETITION 

Merck posted a revenue decline as generic competition and currency fluctuations hurt its results.

KELLOGG PROFIT FELL 33% 

Kellogg said its first-quarter earnings declined in the latest quarter as lower revenue, dinged by currency translations, and higher interest expense hurt the company's bottom line.

APRIL SALES MIXED IN CHINA FOR GM, FORD 

General Motors' sales in China regained some momentum in April, rising 7.5% over the same year-ago period, while Ford's downshifted with an 11% drop in deliveries to Chinese buyers last month.

AMAZON, ATLAS AIR PARTNER FOR CARGO SERVICES 

Atlas Air Worldwide Holdings Inc. said Thursday it would provide air cargo services to Amazon.com Inc., further building out the online retailer's delivery network.

MGM RESORTS PROFIT SLUMPS 

MGM Resorts International said its first-quarter earnings fell 61% amid continued weakness in its China business and a tax provision.

FDA TO REGULATE E-CIGARETTES, BAN SALES TO MINORS 

The U.S. government said it was assuming regulatory authority over e-cigarettes and all other tobacco products with rules that will prohibit sales to anyone under 18 and require manufacturers to submit products for approval.

FANNIE MAE TO PAY $919 MILLION DIVIDEND TO U.S. AS PROFIT FALLS 

Fannie Mae said it would send a $919 million dividend payment to the U.S. Treasury in June, while reporting its profit that fell in latest quarter amid low interest rates.

AVON LOSS WORSENS 

Avon Products on Thursday reported its loss worsened in the most recent quarter, dented by foreign currency challenges, restructuring and the deconsolidation of its Venezuela operations as it works through a major rehaul of its business.

AMERISOURCEBERGEN SHARES SLIDE ON GUIDANCE CUT 

Drug wholesaler AmerisourceBergen Corp. swung to a profit for the March quarter but cut its earnings guidance for the current fiscal year amid continued generic-drug pricing pressures in the sector.

BT RAMPS UP INFRASTRUCTURE SPENDING AS PROFIT RISES 

BT Group said it is spending billions of dollars on upgrading the U.K.'s high-speed Internet broadband and wireless networks as well as slashing costs of its recently relaunched mobile business, as the telecommunications firm's quarterly profit rose.

SEAWORLD GIVES DOWNBEAT GUIDANCE 

SeaWorld Entertainment, which recently said it would abandon breeding its signature killer whales, said a measure of profit for the year would land below analysts' expectations.

OCCIDENTAL PETROLEUM POSTS PROFIT AMID COST CUTTING 

Occidental Petroleum posted a profit in its latest quarter, helped by a hefty tax benefit, as the company continues to cut costs amid a low-energy-price environment.

TIME RESULTS BETTER THAN EXPECTED 

Time Inc. said it deepened its loss in the latest quarter, weighed by higher spending as it invests in beefed-up digital platforms, while revenue rose on higher digital advertising sales.

CHESAPEAKE ENERGY LOSS NARROWS 

Chesapeake Energy said its first-quarter loss narrowed amid a smaller asset write-down, and the embattled energy company agreed to sell some acreage in the Anadarko Basin Stack play to Newfield Exploration for $470 million.

CANADIAN NATURAL POSTS LOSS AMID LOWER OIL PRICES 

Canadian Natural Resources Ltd. on Thursday posted a smaller-than-expected first-quarter loss even as slumping crude-oil prices contributed to a 52% drop in cash flow.

APOLLO GLOBAL SWINGS TO LOSS, MISSES EXPECTATIONS 

Apollo Global Management swung to a first-quarter loss as public holdings in its private equity business weighed on results.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Election 2016 
HOW TRUMP WON-AND HOW THE GOP LET HIM 
 

Donald Trump is now the Republican party's presumptive nominee-a jaw-dropping outcome that says as much about the GOP's turmoil as it does about Trump.

 
Markets Main 
BITCOIN'S PURPORTED FATHER PULLS OFFER OF MORE EVIDENCE 
 

Craig Steven Wright, the Australian businessman who this week claimed he was the creator of the digital currency bitcoin, abruptly pulled his offer to provide more proof.

(END) Dow Jones Newswires

May 05, 2016 10:03 ET (14:03 GMT)

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