According to Reuters, the Fed will probably cut rates and them pause for some time
Reuters writes that senior financiers see the current economic situation as a recession on Main Street and depression on Wall St.
Reuters writes that Microsoft (MSFT) may spend as much as $1.5 billion to retain Yahoo! (YHOO) employees.
Reuters wrtes that Rockefeller family members are pushing for governance changes at Exxon (XOM).
The Wall Street Journal writes that an investigation of Countrywide (CFC) is turning up information showing sale people overlooked inflated income from borrowers.
The Wall Street Journal reports that Iraq may have a $70 billion wind-fall from higher oil prices.
The Wall Street Journal writes that Starbucks (SBUX) will unveil two new drink lines.
The Wall Street Journal reports that Citigroup (C) will sell $3 billion in new stock.
The Wall Stree Journal writes that GM (GM) now faces more obstacles than Ford (F) does.
The New York Times writes that farmers are facing a shortage in fertilizer
The FT writes that one senior bank regulator says the US should fight the housing crisis by using low-cost government loans to help borrowers pay down unaffordable mortgages.
The FT reports that the Treasury is seeking broader powers for the Fed.
The FT reports that Dubai has warned the EU over restricting investments by sovereign funds.
Bloomberg reports that Siemens (SI) profits dropped 68%.
FSLR earnings were good but the response is muted thus far in premarket.
First Solar-FSLR reports Q1 EPS 57c vs. consensus of 47c.
Reports Q1 revenue $196.9M vs. consensus of $183.64M.
FSLR: Solid Qtr, see Street estimates moving higher@COWN
Cowen said there is room for Street estimates to move higher given the faster ramp of new factories and market share gains in 2010. Shares are Outperform rated.
The ADP Employment report for April showed the private sector of the economy added 10,000 jobs. The forecast was for a decline of -60,000.
Brinks-BCO reports Q1 EPS $1.02 vs. consensus of 79c
Reports Q1 revenue $920.6M vs. consensus $842.30M.
Great results with a positive follow through in premarket.
NYX & NDAQ: Growing incrementally more cautious@BOFA
BofA said it is growing incrementally more cautious on NYX and NDAQ given slowing April volumes, market share erosion, and an accelerating pricing war. The firm prefers Buy rated ICE due to best in class fundamentals and leverage to energy/agriculture. Shares of NYX and NDAQ are Neutral rated.
X: Estimates & target raised to $173 from $150@GSCO
Goldman continues to expect shares of US Steel to move higher.
