TOP STORIES
US STOCK FUTURES HIGHER AHEAD OF DATA
U.S. stock index futures trade higher, as markets looked to
rebound from the previous day's losses ahead of data on home prices
and sales, and consumer confidence. Earnings from Apple await after
the closing bell.
WATSON, ACTAVIS MIGHT UNVEIL $6B DEAL WEDNESDAY
Watson Pharmaceuticals might announce a deal to buy Actavis for
about $6 billion Wednesday, Reuters reports. The deal value is
likely to be lower than earlier expected, the report says.
UNITED TECH NET SLUMPS ON DISCONTINUED OPERATIONS
United Technologies' 1Q profit slumps to $330 million, or 37c a
share, as the industrial conglomerate's results took a hit from the
planned shedding of certain businesses to fund its pending
acquisition of aircraft components maker Goodrich.
NESTLE EYES $1.8B ASSET SALE TO SOOTHE REGULATORS
Nestle may sell up to $1.8 billion worth of assets from the
nearly $12 billion it paid for Pfizer's baby food business,
Bloomberg News reports.
TI SAYS IT'S PAST MARKET BOTTOM, RESUMING GROWTH
Texas Instruments reports a 60% drop in profit for the 1Q, but
the big chip maker shows signs of growth that topped its earlier
predictions.
EURO ZONE BONDS RECOVER ON SOLID DUTCH AUCTION
Euro-zone government bonds firm as investors take solid Dutch
and Italian auction results as a cue to buy peripheral euro-zone
debt, easing fears that the region's crisis is deepening.
J.P. MORGAN NAMES ASIA-PACIFIC CEO
J.P. Morgan Chase & Co.'s head investment banking, Jeff
Urwin, will move to Asia and add the role of chief executive for
the region, a move that underscores the growing importance of the
region for the bank.
NOVARTIS 1Q NET PROFIT DOWN
Novartis says net profit declines 16.6% in the 1Q, hit by
stagnant revenue, as new products were unable to fully compensate
weaker sales of blockbuster Diovan, which is facing competition
from cheaper generics.
RADIOSHACK SWINGS TO LOSS AS MARGINS WEAKEN
RadioShack swings to a surprise 1Q loss of $8 million, or 8c a
share, as the consumer-electronics retailer's margins continues to
weaken and as same-store sales fall. Revenue also missed analyst
expectations. Shares fall 8% premarket.
JAMES MURDOCH TESTIFIES BEFORE INQUIRY BOARD
James Murdoch deflects tough questions about his leadership
during a third grilling over illicit reporting tactics at News
Corp.'s British newspapers, this time in front of a judge-led
inquiry probing the ethics and practices of the U.K. press.
GM CEO PREFERS INTERNAL CANDIDATE FOR SUCCESSOR
GM CEO Dan Akerson says he will lead the company until "the
board has had enough of me," and that he'd prefer his successor to
come from within the company, marking a more open-ended time frame
on his potential tenure.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
HEARD ON THE STREET
Facebook To Shake Off Winter Blues
Excitement over Facebook's IPO is already so high that a slower
quarter is unlikely to stop the momentum, Rolfe Winkler writes.
Investors are likely to focus on strong user numbers.
US STOCKS VIEW
Waiting For Wal-Mart's Other Shoe To Drop
After reviewing a major academic study into the impact of
anti-bribery enforcement actions, Mark Hulbert says the report of
alleged bribery by Wal-Mart's Mexican subsidiary is likely to be
only the beginning of the bad news for the company.
============ U.S. MARKETS ACTION ===========
DJIA 12,927.17 from Monday
NASDAQ 2,970.45 from Monday
S&P 500 1,366.94 from Monday
10-year T-note 100 16/32 at 1.9336% yield
NYMEX Crude up $0.24 at $103.35/bbl
Dollar/Euro up 0.0008 at 1.3167