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TOP STORIES
Wall St sunk by corporate cost warnings, bond nerves
U.S. stocks drop sharply as concerns over marquee companieswarning of higher costs were exacerbated by the benchmark U.S.10-year Treasury yield piercing the 3 percent level for thefirst time in four years. (USA-STOCKS/ (UPDATE 4), updatedthroughout the day, 430 words)
U.S. 10-year yield hits 3 pct as economy shows resilience
The U.S. benchmark 10-year Treasury yield tops 3 percent forthe first time in more than four years, a milestone thatreflects the durability of the U.S. economic expansion andstokes the view the three-decade-old bull market in bonds isnumbered. (USA-BONDS/ (UPDATE 2, TABLE, GRAPHICS), moved, byRichard Leong, 540 words)
FOCUS-Express Scripts targets Amgen, Lilly migraine drugs inpricing shift
LOS ANGELES - Express Scripts, the largest U.S. manager ofprescription benefits, is telling drugmakers that the currentpricing model is broken, and taking aim at Amgen Inc, Eli Lillyand Co and other makers of new migraine medicines to try and fixit. (HEALTH-EXPRESSSCRIPTS/AMGEN (UPDATE 1, FOCUS, PIX), moved,by Deena Beasley, 920 words)
Google-owner Alphabet's shares tumble on rise in costs
Shares of Google parent Alphabet Inc fall more than 5percent as a surge in costs drove what analysts said was itsbiggest ever contraction in gross margins, overshadowing strongfirst-quarter ad sales. (ALPHABET-RESULTS/RESEARCH (UPDATE 1),moved, by Arjun Panchadar, 430 words)
Caterpillar shares plunge on concerns earnings have peaked
CHICAGO - Caterpillar Inc's shares tumble on concerns thatrising material costs following U.S. President Donald Trump'scrackdown on steel imports would hurt its earnings in the comingquarters. (CATERPILLAR-RESULTS/ (UPDATE 4), moved, by RajeshKumar Singh, 500 words)
MARKETS
Oil slips as Trump and France's Macron talk Iran deal
NEW YORK - Oil prices slip as concerns over the possibilitythat the U.S. might reinstate sanctions against Iran fadesomewhat, alleviating worries about the future of Iranianexports. (GLOBAL-OIL/ (UPDATE 8, PIX), updated throughout theday, 430 words)
+ See also:
- OIL-PRICES/KEMP (COLUMN), moved, by John Kemp, 960 words
Bitcoin climbs to six-week high as market sentiment improves
NEW YORK - Bitcoin rises to more than $9,300, a six-weekhigh, on positive headlines that include the possible entry ofmajor financial institutions into the space, lifting sentimenton the overall cryptocurrency market.(CRYPTO-CURRENCIES/BITCOIN, moved, by Gertrude Chavez-Dreyfuss,420 words)
ECONOMY
U.S. consumer confidence rebounds; new home sales rise
WASHINGTON - U.S. consumer confidence rebounded in April andnew home sales increased more than expected in March, pointingto underlying strength in the economy despite signs that growthslowed in the first quarter. (USA-ECONOMY/ (WRAPUP 2, PIX), byLucia Mutikani, moved, 770 words)
TRADE
Trump says new NAFTA deal could be completed quickly
WASHINGTON - U.S. President Donald Trump says a new NAFTAtrade deal could be completed quickly, as ministers from Canada,Mexico and the United States prepared to meet later in the dayto try to work out their differences and hash out anagreement.(TRADE-NAFTA/ (UPDATE 2), moved, by Jeff Mason andDavid Lawder, 490 words)
COMPANIES
Shire receives new bid from Takeda as takeover deadlinelooms
LONDON - Takeda Pharmaceutical raises its $62 billion bidfor Shire as it races to agree to terms with the Britishdrugmaker before a deadline to strike a deal expires.(SHIRE-M&A/TAKEDA PHARMA (UPDATE 2), moved, by Ben Martin, 540words)
Lockheed Martin cash flow outlook disappoints, shares fall
Lockheed Martin Corp, the Pentagon's No. 1 weapons supplier,does not raise its 2018 cash flow projections even as the U.S.government spends more on defense, disappointing investors andpushing its shares lower. (LOCKHEED-RESULTS/ (UPDATE 4), moved,by Mike Stone and Rachit Vats, 570 words)
In Des Moines, Wells Fargo looks to soothe critics
Wells Fargo & Co kicks off an annual meeting in Des Moines,Iowa, where investors will likely press executives forassurances that a sweeping sales scandal is a thing of the past.(WELLS FARGO-SHAREHOLDER/MEETING (PIX), moved, by Ross Kerber,540 words)
Facebook releases long-secret rules on how it polices theservice
MENLO PARK - Facebook Inc releases a rule book for the typesof posts it allows on its social network, giving far more detailthan ever before on what is permitted on subjects ranging fromdrug use and sex work to bullying, hate speech and incitingviolence. (FACEBOOK-ABUSE/ (PIX), moved, by David Ingram, 840words)
Verizon first-quarter results beat estimates
Verizon Communications Inc, the No. 1 U.S. wireless carrier,reports higher-than-expected first-quarter revenue and thecompany's chief financial officer said it was continuing toexplore a new video service. (VERIZON-RESULTS/ (UPDATE 2),moved, by Shariq Khan and Sheila Dang, 410 words)
Coke warns of pain from UK sugar tax, U.S. freight costs
Coca-Cola Co will take a hit in the second quarter from theintroduction of a British sugar tax on soft drinks and risingfreight costs in the United States, overshadowing modestlybetter-than-forecast results for the first three months of 2018.(COCA-COLA-RESULTS/ (UPDATE 3), moved, by Nivedita Balu andSiddharth Cavale, 390 words)
Harley-Davidson backs forecast, investors see signs ofrecovery
Harley-Davidson Inc stands by its full-year motorcycleshipments forecast and says it expects dealers to sell moremotorcycles in overseas markets, offering a glimmer of hope to abusiness struggling with an aging customer base in the UnitedStates. (HARLEY DAVIDSON-RESULTS/ (UPDATE 3), moved, by ArunimaBanerjee, 400 words)
United Airlines CEO forgoes 2017 bonus, board chairman tostep down
NEW YORK - United Airlines' chief executive decided to dowithout his 2017 annual bonus and the carrier's board chairmanwill step down, United says in a regulatory filing, amid ongoingfallout surrounding its customer-service failures.(UAL-EXECUTIVES/, moved, by Alana Wise, 380 words)
To beat porch thieves, Amazon slips packages in car trunks
Not content to stop at slipping packages inside customers'front doors, Amazon.com Inc starts a new program to deliverpackages to its members' parked cars. (AMAZON.COM-AUTOS/ (UPDATE1, PIX, TV), moved, by Stephen Nellis, 510 words)
ALSO IN THE NEWS
China-bound U.S. sorghum diverted to Saudi Arabia, Japan
DUBAI/CHICAGO - Four U.S. sorghum shipments initially boundfor China have been diverted to other countries followingBeijing's move last week to impose hefty anti-dumping depositson imports of the grain from the United States, according totrade sources and Reuters shipping data. (US-SORGHUM/SHIP(UPDATE 3), moved, by Maha El Dahan and Karl Plume, 400 words)
Inside Deripaska's scramble to soften Russia sanctions blow
MOSCOW/LONDON - In December, as news reports emerged aboutpotential new U.S. sanctions against Russia, aluminum magnateOleg Deripaska instructed advisers to draw up contingency plans,according to people close to the businessman and his companies.(USA-RUSSIA/SANCTIONS-DERIPASKA (REPEAT, INSIGHT), moved, byPolina Devitt, Dmitry Zhdannikov and Julia Payne, 1,270 words)
