• Asian stocks edge higher after Japan industrial production posts biggest gain in 56 years.

  • Dollar weakens as stock gains increase demand for higher yields.

  • Fed officials believe the recent sharp rise in Treasury yields could reflect a mending economy.

  • India's economy expands 5.8 percent in the three months to March 31, led by government spending and construction.

  • Japan's industrial output jumps at fastest rate in 56 years, but joblessness also rises.

  • Oil dips below $65 in Asia after hitting 6-month high on improving US economy.

  • Treasuries falls as Obama's record borrowing spree overwhelms Federal Reserve efforts to cap consumer interest rates.

  • AOL is now worth half as much as Facebook Inc. and less than 5 percent of Google Inc.

  • BofA offers to swap $2B Preferred for common shares to meet capital goal.

  • Chrysler CEO sees sale to Italy's Fiat closing Friday, but dissenters could force postponement.

  • Costco Wholesale's Q3 net falls 29% to $209.6M; revs fell 4.9% to $15.81B.

  • Dell qtrly net down 63% to $290M as revs dipped 23% to $12.34B. warns PC market hasn't hit bottom.

  • FiberNet Telecom to be acquired by Zayo Group for $11.45/sh cash.

  • Ford sold $1.1B of five-year notes through its finance unit to boost cash.

  • GM will file for bankruptcy on June 1; accord reached with some bondholders.

  • HJ Heinz's Q4 net drops 10% to $175M, hurt by a decline in US restaurant traffic.

  • Marvell reports in-line, Q1 EPS at $0.05. Revs up 1.7% at $521.4M.

  • PepsiCo Inc. plays a role in denying $16 million in stock awards for directors of its biggest bottler and withheld support for most of its directors.

  • Revlon implements worldwide org restructuring; says 2Q09 outlook significantly below 2Q08.

  • RR Donnelly files for bankruptcy.

  • Time Warner said it will finally split off its AOL division.

  • Visteon confirmed it filed for Ch 11 bankruptcy protection.

Economic Calendar: Data on GDP, Chicago PMI, Mich Sentiment-Rev to be released today.


Earnings Calendar: GHM, GLNG, MAD, NBG, QSII, RY, TIF.


Companies to watch: BofA, Dell, Ford, GM, Revlon, Royal Bank Of Canada, Tiffany & Co.,

Time Warner.


Recent Egan Jones Rating Actions:


VISTEON CORP (VSTN)

AUTOZONE INC (AZO)

ARVINMERITOR INC (ARM)

ALLEGHENY TECHNOLOGIES INC (ATI)

KEYCORP (KEY)

STAPLES INC (SPLS)

HORMEL FOODS CORP (HRL)

GOODYEAR TIRE & RUBBER CO/THE (GT)

GENERAL MOTORS CORP (GM)

RADIOSHACK CORP (RSH)

CON-WAY INC (CNW)

YRC WORLDWIDE INC (YRCW)

SUNTRUST BANKS INC (STI)


Data from Egan Jones