TOP STORIES 
 
U.S. FIRST-QUARTER GDP GROWTH REVISED HIGHER TO 0.8% 

The U.S. economy's first-quarter slowdown was less pronounced than initially thought, and recent data have pointed to a pickup for growth this spring.

GLOBAL STOCKS FLAT AHEAD OF YELLEN REMARKS 

Global stocks were little changed Friday as investors remained cautious ahead of comments from Federal Reserve Chairwoman Janet Yellen that could offer clues on the timing of a U.S. interest-rate increase.

THERMO FISHER SCIENTIFIC TO BUY FEI FOR $4.2 BILLION 

The maker of high-end electron microscopes will join Thermo Fisher's analytical instruments segment after the all-cash deal.

JAPAN'S ABE HINTS AT TAX DELAY WITH GLOBAL-CRISIS WARNING 

Prime Minister Shinzo Abe warned that the world faced a possible economic crisis, opening the door to another delay in a planned sales-tax increase in Japan.

QUALCOMM WILL MAKE CHINA-CUSTOMIZED CHIPS THROUGH CHINESE VENTURE 

The move is an example of how U.S. tech companies are localizing products as Beijing tightens control of technology within its borders.

ANGLO AMERICAN APPOINTS NEW DE BEERS CEO 

Diamond giant De Beers named a new chief executive as the storied business steers through a rough patch of low prices caused by weaker demand for the precious gems.

OIL PRICES TRADE LOWER 

Oil prices traded back below the key $50 threshold, as investors took profits from the recent rally and the dollar strengthened.

BIG LOTS PROFIT RISES 20%, BOOSTS GUIDANCE 

Big Lots boosted its outlook for the year and reported a 20% rise in profit in the first quarter as comparable-store sales continued to rise at the discount retailer.

CHINA'S ZOOMLION ABANDONS PURSUIT OF U.S. CRANE MAKER TEREX 

Zoomlion Heavy Industry Science & Technology has decided to end talks over a proposed acquisition of U.S. construction-crane maker Terex.

SNAPCHAT VALUATION NEARS $18 BILLION 

Snapchat raised more than $1.8 billion in an investment round that stretched over more than a year and included Sequoia Capital and Spark Capital as new investors.

VALEANT REJECTED JOINT TAKEOVER APPROACH FROM TAKEDA, TPG 

Valeant Pharmaceuticals International Inc. received a joint takeover approach this spring from Japan's Takeda Pharmaceutical Co. and private-equity firm TPG that the beleaguered drug maker rejected, according to people familiar with the matter.

OBAMA: MEMORY OF HIROSHIMA BOMBING 'MUST NEVER FADE' 

In the first visit to Hiroshima, Japan, by a sitting U.S. president, Barack Obama mourned the victims of the atomic bombing on Aug. 6, 1945.

NO CALL FROM G-7 FOR COORDINATED SPENDING 

The Group of Seven leading industrialized nations warned of rising risks to the global economy but stopped short of announcing coordinated fiscal spending.

JAPAN ORDERS RECALL OF UP TO 7 MILLION  MORE CARS WITH TAKATA AIR BAGS 

Japan ordered auto makers to recall up to seven million more vehicles equipped with rupture-prone Takata air bags, raising the number of domestic recalls to 19.6 million.

ADIDAS TO SELL U.S. BRAND MITCHELL & NESS 

Adidas said it would sell U.S. sportswear brand Mitchell & Ness as part of its strategy of focusing on its core brands.

SGL CARBON SHARES LIFTED BY REPORTED CHEMCHINA INTEREST 

Shares in Germany's SGL Carbon jumped 12% following a magazine report that ChemChina is interested in acquiring the graphite electrode and carbon fiber maker.

PHILIPS LIGHTING SHARES JUMP ON MARKET DEBUT 

Shares of Philips Lighting jumped on their first day of trading in Amsterdam after parent company Royal Philips sold a 25% stake in the 125-year-old business.

AXA SELLS U.K. OPERATIONS TO PHOENIX 

AXA has agreed to sell its investment, pensions and direct protection businesses in the U.K. to Phoenix Group as part of the French insurer's strategy to exit some parts of Europe and invest in faster growing markets.

U.K. TO SEND WARSHIP TO TACKLE LIBYA ARMS 

The U.K. plans to deploy a navy warship to the Mediterranean to counter arms smuggling in Libya and a team to assist in training the country's coast guard, Prime Minister David Cameron said Friday, in the latest sign of a step toward military involvement in the country.

SOUTH KOREA SHIPBUILDER STX OFFSHORE FILES FOR RECEIVERSHIP 

STX Offshore & Shipbuilding has filed for receivership, becoming the first South Korean shipbuilder to face liquidation in recent years.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Heard on the Street 
MARKETS' MIXED SIGNALS: NO ALL-CLEAR FOR INVESTORS YET 
 

Risk appetite has recovered since the panic at the start of the year. Or has it?

 
Election 2016 
DONALD TRUMP CELEBRATES CLINCHING GOP DELEGATE RACE 
 

Republican Donald Trump took a victory lap Thursday as he crossed the delegate threshold needed for his party's presidential nomination, and continued to tease Hillary Clinton about the persistence of her rival Bernie Sanders-even toying with the idea of debating the underdog Democrat.

(END) Dow Jones Newswires

May 27, 2016 10:00 ET (14:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.