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U.S. Morning Call: BofA profits lower; Morgan Stanley out

Wednesday, April 18, 2012 - 02:27

April 19 - Bank of America reports a drop in first-quarter profits and Morgan Stanley posts Q1 earnings.

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Here's your morning call this Thursday Bank of America surging in the premarket shares at nearly 6%. After the financial giant just reporting quarterly results CEO Bryan want -- the bank saw improved profitability ability. In all of its businesses this quarter compared to fourth quarter of last year. Morgan Stanley up 7% premarket after releasing its earnings report quarterly revenue that sailed past forecasts. Bank of America and other financial giants now have one less legal matter to worry about it. A federal judge has dismissed claims against -- defendants including several banks. The suit that accused him of helping mislead investors and GE's twelve point two billion dollars stock offering 2008. The claims against GE N chief financial officers still stand. State universities retirement system Illinois alleges. They made misleading statements about the quality of the company's loan portfolio portfolio. Others dismissed from the case includes Citigroup Goldman Sachs and JPMorgan. Apple wants to take on the US government. Lawyer for the tech -- telling a judge you like to go to trial to defend itself. Against allegations from the Justice Department that it had conspired to publishers to raise the prices of electronic books. Publishers MacMillan and Pearson's Penguin Group expressed a similar view. Apple lawyers saying that matters not an appropriate case against the company would like to validate that you. Meanwhile apple continues to try to negotiate a settlement with the use. A slew of economic reports out today including existing home sales. Economists are looking for an annual rate of four point 62 million in March -- above the February number. Thomson Reuters IFR markets points out it would wrap up the best quarterly sales averaging nearly two years. -- are paying particular attention to the number of distressed sales and the level then towards. Weekly jobless claims and the Philly Fed manufacturing survey among all figures out today. Two more stocks to watch starting with DuPont. The Dow company component topping sales and profit forecast due to price hikes and strong sales herbicides and genetically modified seeds. And eBay is up about 9% premarket several brokerages hiking the price targets. After the company beat estimates and raised that point oh forecast earnings growth that the congress and PayPal payment businesses. And that is your morning call this Thursday I'm Fred Katayama and this is Reuters Insider.

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U.S. Morning Call: BofA profits lower; Morgan Stanley out

Wednesday, April 18, 2012 - 02:27