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Tuesday, April 17, 2012

Business Today: Wall Street rallies on earnings, Europe news

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04/17/2012
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Wall Street rallies on earnings, Europe news
NEW YORK (Reuters) - Stocks posted their biggest gains in a month on Tuesday after Coca-Cola led a round of strong earnings and concerns about Europe's debt crisis eased as Spanish bond yields fell.
IBM boosts 2012 outlook after first quarter results
(Reuters) - IBM raised its full year outlook after it posted a 15 percent rise in first quarter earnings on strong demand for its software services and growth in emerging markets.
Intel quarterly revenue beats expectations
(Reuters) - Intel Corp posted first-quarter revenue of $12.9 billion and net earnings of $2.7 billion, or 53 cents a share, as the personal computer industry wrestles with a shift toward tablets and other mobile gadgets.
Yahoo beats Wall Street profit targets
SAN FRANCISCO (Reuters) - Yahoo Inc reported a modest uptick in first-quarter revenue and beat Wall Street's profit targets, as the Web company moves to revamp its growth under new Chief Executive Scott Thompson.
IMF inches toward deal on boosting firepower
WASHINGTON (Reuters) - The International Monetary Fund on Tuesday appeared to be inching toward a deal on boosting its financial firepower with Japan, Sweden and Denmark committing a total of $77 billion to help contain the euro zone debt crisis.
Exclusive: Bank of America puts non-U.S. wealth arm up for sale
ZURICH/LONDON (Reuters) - Bank of America Merrill Lynch has put its wealth management units outside the United States up for sale, three sources familiar with the situation said, hoping to bring in up to $3 billion for the sub-scale business.
Citigroup loses advisory vote on executive compensation
DALLAS (Reuters) - Citigroup Inc shareholders gave a vote of no confidence to the bank's executive compensation plan on Tuesday, dealing a surprise embarrassment to Chief Executive Vikram Pandit.
Goldman beats Street but dials back risk
(Reuters) - Goldman Sachs Group Inc surprised Wall Street on Tuesday, reporting better-than-expected profit and dialing back risk-taking in ways that are uncharacteristic for the traditionally aggressive investment bank.
U.S. factory decline suggests economy losing steam
WASHINGTON (Reuters) - Output at U.S. factories slipped in March and builders started construction on fewer homes, offering cautionary signals for an economy that appeared to be gaining traction.
Coke beats Street, sees signs U.S. economy improving
(Reuters) - Coca-Cola Co posted higher-than-expected quarterly results after the world's largest soft drink maker sold more beverages, even in developed markets with economic challenges, fueling hopes that conditions are improving.
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