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Spain, Greece Spur Fear, Boosting US Dollar, Bonds: Daily Markets Wrap

European stocks lost big Thursday as Greek banks were cut loose from European Central Bank support and Spain's borrowing costs kept skyrocketing. The head of the International Monetary Fund, Christine Lagarde, also warned today of the extremely expensive consequences of Greece leaving the currency bloc.
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Kleenex

Kimberly-Clark 1Q Profits, Sales Rise On Overseas Gains

Kimberly-Clark Corp. (NYSE: KMB), which makes Scott brand tissues, reported on Friday an increase in revenue and profits in its first quarter as cost-cutting and a boost in overseas sales made up for slow growth in the domestic market.
McDonald's

McDonald's 1Q Profits Jump Despite Euro Zone Woes

McDonald's Corp. met analysts' expectations in first-quarter revenue and profit growth, as economic troubles in Europe did not to put a dent in the world's largest restaurant chain's balance sheet, the company reported on Friday.
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Johnson Controls Posts Quarterly Profit Gain

Johnson Controls Inc. (NYSE: JCI), the world's No. 1 maker of car batteries, said Friday its fiscal second-quarter profit rose but excluding one-time benefits the company's profit fell 5 percent.
New York City Mayor Michael Bloomberg speaks during a news conference at Cornell University in New York

NYC Will Open 54 New Schools This Fall & A Software Engineering School, Says Bloomberg

Mayor Michael R. Bloomberg and Schools Chancellor Dennis Walcott announced the city's plan to open 54 new schools this fall, including a high school academy for software engineering. Come September, the Bloomberg administration will have closed 140 schools and opened 589 new ones since 2002, through a longstanding policy that has set out to replace poorly performing schools. The new schools will eventually serve more than 21,000 students.
The Delancey Underground Park Renderings

Delancey Underground Exhibit in LES Gallery

An exhibit at the Mark Miller Gallery on the Lower East Side offers New Yorkers insight into one of Manhattan's most exciting endeavors: The Delancey Underground. The Let There Be Light Exhibit displays renderings of an underground park that a pair of NYC architects have set out to create in an abandoned trolley terminal in the Lower East Side.
Sign shows address of Goldman Sachs headquarters building in New York

Five Takeaways From The 1Q 2012 Goldman Sachs Earnings Call

Goldman Sachs Group Inc. (NYSE: GS) Chief Financial Officer David Viniar took questions from analysts on Tuesday morning in a wide-ranging call that touched on government regulation, risk, departures of the firm's partners and the firm's standing on Wall Street. Here are five key points.
Citigroup

Citigroup Narrowly Misses Analyst Earnings Expectations

Citigroup Inc. (NYSE: C) kicked off Monday morning by announcing underwhelming first-quarter earnings that narrowly missed analyst expectations on both profit and revenue. The New York-based banking giant reported earnings of $2.93 billion, or 95 cents per share on revenues of $19.41 billion. Earnings a year ago had been reported as $3 billion, or $1 a share, on revenues of $19.73 billion. Analysts had expected earnings to be flat from year-ago results.
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Professors Allege More Accounting Problems At Demand Media

Villanova's Anthony Catanach and Penn State's Edward Ketz say the operator of eHow.com and other sites is overly aggressive with cost capitalization, a method of recording lower expenses for the period in which a cost was incurred.

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