NEWS

Asian stocks edged up on Wednesday supported by the top U.S. Treasury official saying most banks have adequate capital, but caution was likely to reign until official results of stress tests were released on May 4.

Chrysler LLC's first-lien lenders have offered to take equity in a restructured automaker allied with Fiat SpA in exchange for writing off about 35 percent of the $7 billion they are owed, according to people with knowledge of the closed-door talks.

Global recorded music sales fell by more than 8 percent in 2008 to $18.42 billion led by a sharp drop-off in sales in the United States, according to the world music trade body IFPI.

The Pentagon and Lockheed Martin Corp, its top supplier, discounted a Wall Street Journal report that cyber spies had stolen secrets of the F-35 Joint Strike Fighter aircraft being built for the United States and nearly a dozen allies.

Stocks rose on Tuesday after Treasury Secretary Timothy Geithner indicated most banks have sufficient reserves to protect against possible losses, sparking a rebound in bank shares.

Chrysler LLC's first-lien lenders have submitted a counter-offer to the U.S. Treasury that would swap some $7 billion in debt for equity in a restructured automaker allied with Fiat SpA , according to a person with knowledge of the closed-door talks.

Stocks rose on Tuesday after U.S. Treasury Secretary Timothy Geithner said the vast majority of banks are well capitalized, soothing worries over the need for the struggling sector to raise more money.

Stocks rose on Tuesday, led by the financial sector, after Treasury Secretary Timothy Geithner said the vast majority of U.S. banks are well capitalized and industrial bellwether United Technologies Corp reported forecast-beating earnings.

The New York Times Co reported a quarterly loss on Tuesday because of a 27 percent drop in advertising revenue and poor performance at The Boston Globe, which might close this year.

Stocks rose on Tuesday as a profit from United Technologies Corp topped expectations and lifted the Dow, and better-than-expected results from technology companies offset concerns about corporate profits and even cloudier outlooks.

Merck & Co reported disappointing sales and earnings on Tuesday due to the global economic slowdown and plunging sales of its Gardasil vaccine, and announced a setback for its experimental migraine drug, sending its shares down 7 percent.

Coca-Cola Co reported a lower quarterly profit on Tuesday that met Wall Street estimates as the weak global economy led to slower international sales growth.

Merck & Co , which plans to buy rival drugmaker Schering-Plough Corp later this year, reported lower-than-expected sales and earnings that it attributed to the global economic slowdown.

Stock index futures pointed to a lower open on Tuesday on concerns about the state of corporate profits after several major U.S. companies reported disappointing quarterly results and even cloudier outlooks.

UnitedHealth Group Inc posted slightly lower first-quarter profit on Tuesday as membership in commercial plans for employers fell, but the results topped analysts' expectations, and the insurer backed its 2009 profit forecast.

Stock index futures pointed to a lower open on Tuesday on concerns about the state of corporate profits after several major U.S. companies reported disappointing quarterly results and even cloudier outlooks.

UnitedHealth Group Inc posted slightly lower first-quarter profit on Tuesday as membership in commercial plans for employers fell, but the results topped analysts' expectations, and the insurer backed its 2009 profit forecast.

Caterpillar Inc , the world's largest maker of construction and mining equipment, reported its first quarterly loss in 17 years on Tuesday, pulled into the red by more than half a billion dollars in charges from its wave of recession-triggered layoffs.

Merck & Co , which plans to buy rival drugmaker Schering-Plough Corp later this year, reported lower-than-expected sales and earnings that it attributed to the global economic slowdown.

Stock index futures pointed to a lower open on Tuesday on concerns about the state of corporate profits after Bank of New York Mellon cut its quarterly dividend and DuPont warned of weak demand ahead.

Futures for the Dow Jones industrial average, Nasdaq and S&P 500 share indexes are up between 0.3 and 0.5 percent, pointing to a higher start on Wall Street.

U.S. stocks slid more than 3 percent on Monday after weak results from Bank of America reignited concerns over the state of the banking industry and the economy.

PepsiCo Inc offered $6 billion to buy the remaining stakes in its two largest bottlers, Pepsi Bottling Group and PepsiAmericas, as it seeks to secure more control of its distribution and cut costs.

Stocks slid on Monday on concerns over the sustainability of recent better-than-expected results from banks after Bank of America Corp reported a big increase in troubled loans.

General Motors Corp said on Monday it is telling about 1,600 salaried U.S. employees this week to leave by May 1 as it scrambles to reduce costs under a restructuring mandated by the U.S. government.

Stocks slid on Monday on concerns over the sustainability of recent better-than-expected results from banks after Bank of America Corp reported a big increase in troubled loans. Wall Street's tumble follows a six-week winning streak, the longest for the S&P 500 since 2007, with the Dow scoring its biggest gain over the period since 1938.

Oil slid over 7 percent to $46 a barrel on Monday, depressed by a rising U.S. dollar and growing caution about the pace of any economic recovery and its impact on oil demand.

Stocks slid on Monday on worries about the sustainability of recent better-than-expected results from banks following Bank of America Corp's report of a big increase in troubled loans.

Stocks tumbled on Monday on worries about the sustainability of recent better-than-expected results from banks after Bank of America Corp reported a big increase in troubled loans.