Advantest says chip tester orders recovering

(Reuters) - Advantest hopes demand for chip testers will pick up this year from clients such as Intel Corp. , Samsung Electronics Co. , Hynix Semiconductor and Elpida Memory Inc. .




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Harmony's Q3 headline EPS up 32 pct, beats forecast

(Reuters) - South Africa's Harmony Gold, the world's fifth biggest gold producer, posted a 31.8 percent rise in third quarter headline earnings per share to 58 cents to end-March, beating analysts forecasts.

Headline EPS compared with 44 cents per share for the period to end-December 2006 (second quarter) and a 48 cents per share loss for the year-ago March 2006 quarter, the company said.


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Honda Q4 down, sees decline this year

(Reuters) - Quarterly operating profit fell to 250.22 billion yen, down 26.6 percent from the previous year when it booked a 138 billion yen one-off pension-related gain.

For the year to March 2008, the Tokyo-based carmaker forecast a net profit of 575 billion yen, down from 592.32 billion yen in 2006/07 and against an average forecast of 641.4 billion yen in a survey of 16 brokers by Reuters Estimates. Honda, which is due to launch an all-new version of its flagship Accord sedan later this year, projected operating profit of 770 billion yen.


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South Korean Stocks Fall From Record; Samsung Leads Decline on U.S. Data

(Bloomberg) -- South Korean stocks fell for the first time in four days, slipping from a record. Samsung Electronics Co. and Hyundai Motor Co. slid after U.S. existing- home sales and consumer confidence dropped, raising concern overseas consumers may reduce spending.

``Companies like Samsung Electronics and Hyundai Motor, which export to the U.S., are weighing on the index today,'' said Park Seh Ick, who manages $1.3 billion at Hanwha Investment Trust Management Co. in Seoul. ``The confidence and housing figures suggest that spending could slow, hurting their sales.''


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Reuters Q1 underlying revenue rises 6.5 pct

(Reuters) - Underlying revenue growth was 6.5 percent, compared with 4 percent a year ago. The company's Core Plus growth strategy contributed two percentage points to the revenue growth figure.

Analysts had forecast first-quarter revenue of 625 million pounds on a constant currency basis, inside a 621 to 628 million range, according to an average of nine brokers polled by Reuters. Underlying revenue growth was seen at 6.1 percent.


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Taiwan Siliconware's Q1 net up 36 pct from yr ago

(Reuters) - The profit beat a mean forecast of T$3.123 billion profit from 13 analysts polled by Reuters Estimates.




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Jarden set to buy K2 for $1.2 bln: WSJ

(Reuters) - Jarden and K2 could not immediately be reached for comment. Both companies are also expected to report their first quarter results on Wednesday.




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Barclays, GlaxoSmithKline, Lonmin, Wolfson: U.K., Irish Equity Preview

(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from yesterday's market close.

The benchmark FTSE 100 Index fell 50.20, or 0.77 percent, to close at 6429.5 in London as 23 stocks rose, 76 fell and 3 were unchanged. The FTSE All-Share Index lost 26.16, or 0.8 percent, to 3341.62.


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Yen Gains as Trade Data Adds to Signs Bank of Japan May Flag Rate Increase

(Bloomberg) -- The yen advanced for a third day as a government report showing rising exports increased speculation that the Bank of Japan's semiannual forecasts will indicate plans to raise interest rates.

Japan's currency had fallen to a record low against the euro earlier this month as the central bank's benchmark rate, the lowest in the industrialized world, encouraged investors to enter carry trades by borrowing the currency to fund purchases of high-yielding assets. Data today showed the trade surplus widened to a record, underscoring the strength of the world's second-largest economy.


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Asia stocks fall, dollar weak, on U.S. data

(Reuters) - Japanese government bonds rose, mirroring gains in U.S. Treasuries that followed Tuesday's data showing U.S. existing home sales posted their biggest monthly drop in 18 years and consumer sentiment hit an eight-month low.

The lacklustre numbers weighed on Wall Street -- and shares in Asian companies with significant U.S. sales -- and reinforced expectations the Federal Reserve may cut interest rates in the world's biggest economy from 5.25 percent this year.


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China Southern's First-Quarter Loss Narrows on Surcharges, Lower Fuel Cost

(Bloomberg) -- China Southern Airlines Co., the country's biggest carrier, said its first-quarter loss narrowed 69 percent because of lower fuel costs and higher surcharges.

The carrier posted a loss of 188 million yuan ($24 million), or 0.04 yuan a share, in the three months to March 31, compared with 603 million yuan, or 0.14 yuan, a year earlier, the Guangzhou-based company said in a statement today, using domestic accounting standards. Sales rose 26 percent to 11.9 billion yuan.


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Oil steady, traders braced for U.S. gasoline draw

(Reuters) - London Brent crude, for the moment seen as a more accurate reflection of world oil prices than U.S. crude, rose 15 cents to $67.31 at 0225 GMT after a 99-cent drop the day before. U.S. crude edged up 1 cent to $64.59.

Dwindling U.S. gasoline stocks and healthy demand growth have inflamed concerns ahead of the summer driving season.


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Canadian Stocks Drop for Second Day as BCE, Telus, Financial Shares Drop

(Bloomberg) -- Canadian stocks fell for a second day, on speculation Telus Corp. will stay out of any bidding war for BCE Inc., the country's largest telephone company.

A group of phone shares rose 19 percent before today on a March 29 report that BCE may be bought out. Financial shares including Royal Bank of Canada slid today after the central bank said inflation risks increased, signaling it may consider raising borrowing costs.


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Singapore's Stocks Gain, Led by United Overseas Bank and Keppel Corp.

(Bloomberg) -- Singapore's Straits Times Index rose 7.38, or 0.2 percent, to 3381.90 at 9:01 a.m. local time. April futures gained 0.4 percent to 413.9.

United Overseas Bank Ltd. and Keppel Corp. advanced.


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Japanese Stocks Drop on U.S. Slowdown Concern, Led by Toyota; Canon Rises

(Bloomberg) -- Japanese stocks slipped after U.S. consumer confidence and sales of previously owned homes slumped, renewing concern slower growth in Japan's largest export market will curb profits for exporters such as Toyota Motor Corp.

Canon Inc. paced gains by companies which reported earnings that exceeded analysts' expectations.


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Japan's March Trade Surplus Widens to Record as Weaker Yen Boosts Exports

(Bloomberg) -- Japan's trade surplus widened to a record in March as companies shipped more goods to the U.S. and China and a weaker yen increased the value of exports.

The surplus rose 73.9 percent to 1.633 trillion yen ($14 billion) from a year earlier, the Ministry of Finance said today in Tokyo. The median estimate of 35 economists surveyed by Bloomberg News was for the surplus to widen to 1.38 trillion yen.


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US FCC to unveil auction plan on Wednesday

(Reuters) - The agency plans to auction airwaves later this year that are being returned by television broadcasters as they move to digital signals early in 2009.

The sale is touted as the last opportunity for new players to enter the wireless market and is expected to raise billions of dollars.


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Government task force to examine student lending

(Reuters) - Allegations of kickbacks paid to college officials by companies to get on "preferred lender" lists have focused attention on the $85 billion student lending industry.

In addition, a handful of college financial aid officers and Education Department employees have been accused of owning stock in student loan companies. That has raised questions about the independence of their judgment in guiding students.


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TREASURIES-Bond prices still up after 5Y TIPS sale

(Reuters) - The nominal 5-year note's price traded up 2/32 after the auction for a yield of 4.52 percent, versus 4.52 percent just before the auction and versus 4.54 percent late on Monday.

Bond yields and prices move inversely.


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Oracle to buy energy tech company Lodestar

(Reuters) - Lodestar employees will join Oracle's utilities global business unit, Oracle said.




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KKR group holds 29.3 pct Alliance Boots shrs-source

(Reuters) - The stake was increased after the consortium purchased shares in the market earlier in the day. The total stake includes a 15 percent stake held by Pessina.

Market sources said the consortium's latest purchase of 25 million shares was made at 1,130 pence per share. The consortium earlier on Tuesday raised its offer for Alliance Boots to 1,139 pence per share in cash, or about 11 billion pounds.


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UPDATE 2-Sallie Mae quarterly results fall

(Reuters) - The results were weaker than analysts had expected. The company's shares were essentially flat in early trading because it plans to sell itself for $25 billion, or $60 a share.

Earlier this month, Sallie Mae settled with New York's attorney general, and agreed to change some of its business practices, without admitting guilt.


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UPDATE 1-US home prices fall in February - S&P/Case Shiller

(Reuters) - The composite month-over-month Standard & Poor's/Case-Shiller Home Price Index of 20 metropolitan areas fell 0.5 percent from January to 201.19, for a 1.0 percent year-over-year drop, S&P said in a statement.

The composite month-over-month Standard & Poor's/Case-Shiller Home Price Index of 10 metropolitan areas fell 0.5 percent to 219.94, 1.5 percent below a year earlier.


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US STOCKS-Wall Street sags on data; IBM helps Dow

(Reuters) - NEW YORK, April 24 - U.S. stocks fell on Tuesday after weaker-than-expected data on existing-home sales and consumer confidence erased gains from forecast-beating corporate earnings reports.

The Dow's losses were limited by IBM , the world's largest computer services company, whose board raised its quarterly dividend and a share buyback program.


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U.K. Pound Holds Near $2 After BOE Policy Makers' Comment on Inflation

(Bloomberg) -- The pound held near the $2 mark, paring earlier losses, after Bank of England policy makers indicated they are concerned about price pressures and Governor Mervyn King repeated the BOE is determined to bring inflation down to target.

The U.K. currency fell yesterday as its recent climb to the highest in 25 years last week was judged by traders as being too rapid. Interest-rate futures suggest investors bet the central bank will probably raise borrowing costs twice more this year. BOE Monetary Policy Committee members made remarks to the Treasury Select Committee.


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Omnicom reports higher first-quarter earnings

(Reuters) - Worldwide revenue rose nearly 11 percent to $2.84 billion.




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CP Rail first-quarter profit rises 18 percent

(Reuters) - CP officials had warned earlier they expected earnings would be hit by weather conditions, which had damaged its mainline in British Columbia, and disruptions caused by a strike at larger rival Canadian National Railway.




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UPDATE 4-Elpida Q4 profit jumps, but price falls hurt

(Reuters) - Elpida said it would fight price declines this year by squeezing more power into its dynamic random access memory chips for faster and lighter computers and feature-intensive mobile phones.

Like Taiwanese partner Powerchip Semiconductor Corp. and South Korean rivals Samsung Electronics Co. and Hynix Semiconductor Inc. , Elpida expects chip prices to hit bottom soon, probably in May or June, Elpida President Sakamoto said.


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Sallie Mae quarterly results fall

(Reuters) - Sallie Mae, legally known as SLM Corp. said on April 16 that it was selling itself to J.C. Flowers & Co. and Friedman Fleischer & Lowe, and JPMorgan Chase & Co. and Bank of America Corp. for $25 billion, or $60 a share.




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Arrow Electronics quarterly profit rises

(Reuters) - Adjusted earnings for the quarter was 74 cents a share.

First quarter sales climbed to $3.50 billion from $3.19 billion last year.


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UPDATE 1-Sallie Mae quarterly results fall

(Reuters) - Sallie Mae said quarterly earnings fell to $116 million, or 26 cents per share, from $152 million, or 34 cents a share, a year earlier.

Even ignoring items like changes in derivatives' value, Sallie Mae earnings fell to $251 million, or 57 cents a share compared to $287 million or 65 cents a share a year earlier.


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UPDATE 2-CME 1st-qtr profit up 42 pct; faces slower Q2

(Reuters) - CHICAGO, April 24 - Chicago Mercantile Exchange Holdings Inc. , parent of the largest U.S. futures exchange, said on Tuesday that first-quarter profit rose 42 percent on the back of record margins.

"During the quarter we surpassed volume records in all our product lines, leading to the strongest top-line, quarter-over-quarter growth since 2004," CME Chairman Terry Duffy said.


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Northrop Grumman profit rises

(Reuters) - The No. 3 U.S. defense contractor, which makes warships, nuclear submarines, unmanned surveillance planes and a range of military electronics, reported quarterly profit of $387 million, or $1.10 per share, compared with $358 million, or $1.02 per share, in the year-ago quarter.

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Rubber Futures Rise in Tokyo on Stockpile Decline, Higher Thailand Prices

(Bloomberg) -- Rubber futures in Tokyo, the global benchmark, rose for the first time in four days on a decline in rubber stockpiles in Japan and higher raw material prices in Thailand, the world's top rubber producer and exporter.

Crude rubber inventories held at Japanese warehouses declined to 18,640 metric tons as of April 10 from 18,844 tons at the end of March and 18,953 tons as of March 20, according to data from the Rubber Trade Association of Japan.


Read more at Bloomberg Commodities News

Canadian National Rail, Teck Cominco, TransCanada: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed yesterday. Symbols are in parentheses after company names and prices are from the last close.

The Standard & Poor's/TSX Composite Index lost 35.74, or 0.3 percent, to 13,628.97, yesterday in Toronto.


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Aspen gets approval to make two ARV drugs

(Reuters) - Aspen, Africa's biggest generic drug maker, said on Tuesday South Africa's medicines control authority had approved the firm's production of two key anti-retroviral (ARV) products.

Aspen said the Medicines Control Council had approved the manufacture and distribution of ARV products Viread and Truvada in the South African market.


Read more at Reuters Africa

UPDATE 1-LUKOIL 2006 net rises 16 pct, misses forecast

(Reuters) - The company said its profits rose to $7.48 billion from $6.44 billion in 2005. Analysts had expected the firm to report a profit of $7.87 billion.

Revenues rose 21 percent to $68.11 billion from $56.22 billion on the back of stronger oil and gas output, which LUKOIL said had risen by 12.2 percent last year to 2.145 million barrels of oil equivalent.


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UPDATE 2-U.S. sales boost Aviva Q1, help shares higher

(Reuters) - LONDON, April 24 - British insurer Aviva posted a 16 percent rise in life and pensions sales on Tuesday, boosted by U.S. business, with its newly acquired AmerUs unit making its first full quarter's contribution.

Britain's largest insurer said sales of life and pensions policies climbed to 7.75 billion pounds , a touch above an average forecast of 7.53 billion pounds from analysts.


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China stocks mixed as turnover jumps to record

(Reuters) - Turnover in Shanghai A shares expanded to a record 202.7 billion yuan from Monday's 182.1 billion yuan, exceeding the previous all-time high turnover of 186.7 billion hit last Thursday.

The index surged 3.53 percent on Monday and is up 29 percent since the end of February. The huge gains have left many analysts and investors expecting a sharp pull-back at some stage.


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U.K. Pound Declines Versus Dollar Before Testimony of BOE Policy Makers

(Bloomberg) -- The U.K. pound dropped before Bank of England's policy makers are due to testify to a Treasury committee on speculation the central bank may signal the market is overpricing interest-rate increases.

The U.K. currency fell yesterday as its recent climb to the highest in 25 years last week was judged by traders as being too rapid. Interest-rate futures suggest investors bet the central bank will probably raise borrowing costs twice more this year. The central bank testimony starts at 9:30 a.m. in London.


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European Government Bonds Gain on Expectations Inflation Will Be Curbed

(Bloomberg) -- European 10-year government bonds rose on speculation higher interest rates will contain inflation in the euro region.

Benchmark European debt posted an advance last week as the euro's gain versus the dollar stoked concern that growth in the $10.4 trillion euro region economy. European Central Bank executive board member Gertrude Tumpel-Gugerell said today she's ``confident'' inflation in the euro area will remain below the bank's 2 percent ceiling.


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Spain's Conthe said CNMV hurt E.ON's Endesa bid

(Reuters) - Conthe said earlier this month he would resign over issues related to the takeover battle but only if he could explain his reasons before a parliamentary commission.

Conthe had earlier said he did not need the confidence of the government "particularly when the government's industrial policy is in potential conflict with market rules."


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Nikko Q4 net profit jumps 38 percent on tax change

(Reuters) - The result was in line with an estimate of annual earnings published by Nikko on March 22, which implied quarterly net profit of 26.55 billion yen.

Nikko's quarterly operating profit, which was not affected by the tax change, fell 36 percent to 21.69 billion yen, reflecting damage to Nikko's business from an accounting scandal as well as a sector-wide underwriting slowdown.


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Emission Permits Rise Near Highest This Year on Spain Curbs Credit Imports

(Bloomberg) -- European Union carbon dioxide permits rose near their highest so far this year after Spain restricted its power companies including Endesa SA from importing outside credits.

Emission permits for December 2008 rose as much as 35 cents, or 1.9 percent, to 18.35 euros ($25) a metric ton and traded at 18.25 euros at 8:53 a.m. in Amsterdam, according to the European Climate Exchange. They were as high as 18.50 euros a ton on Jan. 2.


Read more at Bloomberg Energy News

India's Rupee Gains as Central Bank Vows to Combat Inflation; Holds Rates

(Bloomberg) -- India's rupee rose after the central bank vowed to contain inflation and signaled it will take ``timely action'' to slow the pace of price increases.

Governor Yaga Venugopal Reddy today left the key overnight lending rate unchanged. He said the preference of policymakers will be to maintain price stability after inflation in the week ended April 7 unexpectedly accelerated. Reddy has raised the key rate nine times since October 2004, and has also told lenders to set aside more cash to curb lending.


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AB Foods HI profits up, more gains in H2

(Reuters) - LONDON, April 24 - Associated British Foods Plc , owner of Primark discount clothes stores and the Silver Spoon sugar refiner, posted a 5 percent rise in half-year profit on Tuesday and forecast further growth in its second half.

The London-based food and retailing group, 55 percent owned by the family of its Chief Executive George Weston, reported adjusted pretax profit of 268 million pounds


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