WALL STREET JOURNAL

Steven Spielberg and his DreamWorks (DWA) partners are close to signing a deal with India’s Reliance ADA Group for between $500M and $600M that would provide financing to the company as it prepares to leave Viacom’s (VIA) Paramount Pictures this year, the Wall Street Journal reported. DreamWorks will seek to obtain an additional $500M in debt financing to make about six new films a year…The Wall Street Journal also reported that at an investor update yesterday, Hershey (HSY) CEO David West said the chocolate-bar maker would boost spending on marketing about 20% this year and next, and slightly increased the company’s long-term annual sales targets, but offered little detail on how it will address its reliance on the U.S. market for revenue…ECONOMIC TIMES: The Economic Times reported that India’s Maneesh Pharmaceuticals, a mid-sized company, bought a 51% stake in U.S.-based Synovics Pharmaceuticals (SYVC). The terms of the deal were not disclosed…The Economic Times also reported that General Electric’s (GE) GE Money Financial Services, which was seeking a parter for its personal and home loan portfolios, may have called off the process after it was unable to get the right valuation…DETROIT NEWS: Bob Nardelli, the chairman and CEO of Chrysler LLC, sent a memo to employees warning them of worsening U.S. sales, the Detroit News reported. The e-mail did not indicate the auto maker would look to soon further cut production or lay off staff, a person familiar with the matter said…

Royal Bank of Scotland predicts global stock and credit crash soon-Telegraph

The Royal Bank of Scotland (RBS) has told its clients to be prepared for a crash in global stock and credit markets over the next three months. The bank predicts that the world’s major central banks will be paralyzed by inflation. The S&P 500 is likely to drop more than 300 points by September, the bank warns.

FDX reports Q4 EPS $1.45 vs. consensus of $1.44
Reports Q4 revenue $9.87B vs. consensus $9.60B.
FDX sees Q1 EPS 80c-$1.00 vs. consensus of $1.27.
FDX sees FY09 EPS $4.75-$5.25 vs. consensus of $5.92
FDX CEO says operating environment in 2009 to be ‘very difficult’

FDX: high fuel prices, weak economy “substantially” affected bottom line
This comment was made on the FDX Q4 earnings conference call.

RIMM: Expect another solid quarter, maintain Overweight@JPMS
JP Morgan expects RIMM to report a solid quarter with potential upside from European operations and thinks guidance can sustain the stock’s momentum.