AP - Shares of Seagate Technology LLC fell more than 5 percent after the hard drive maker pared back its earnings and sales targets for the fiscal year amid concerns of continued price wars and potentially choppy demand.

TechWeb - The company notes average selling prices for the quarter held up despite a price war with AMD.

TechWeb - Revenue climbed 7% to $22 billion, while net income increased 8% to $1.8 billion for the quarter.

AFP - European stock markets dropped in opening deals on Wednesday, as the euro and sterling raced to multi-year highs against the dollar.

FT.com - Ex-dividend stocks were the biggest fallers on the FTSE 100 in early Wednesday trading as London equity markets opened lower.

FT.com - The threat of further interest rate rises weighted on the FTSE on Wednesday.

Reuters - Stock futures fell on Wednesday, suggesting Wall Street could pare some gains later in the day as disappointing results from Web search firm Yahoo Inc. may weigh on the broader market.

Reuters - Diversified manufacturer United Technologies Corp. said on Wednesday that quarterly profit rose 6.6 percent, helped by strong demand from the aerospace sector.

AFP - European stock markets dropped on Wednesday as the euro and sterling raced to multi-year highs against the dollar, sparking concerns for companies with exposure in the United States.

AP - JPMorgan Chase & Co., the nation's third largest bank, on Wednesday reported a 55 percent increase in first-quarter profit reflecting strength across most of its primary business lines, although it increased reserves to offset subprime mortgage losses.

AP - Medical device maker Abbott Laboratories Inc. said Wednesday its first-quarter profit fell 19 percent as the company wrote down the value of its holdings in Boston Scientific stock and incurred integration costs related to the purchase of assets from that company last year.

AP - Wall Street was mixed Wednesday as companies reported widely divergent earnings results that revived concerns about slowing profit growth. Bond prices extended their advance as investors grew optimistic that the Federal Reserve won't raise interest rates.

FT.com - Wall Street stocks were set for a lower start on Wednesday as disappointing earnings updates from IBM and Yahoo rekindled concerns about the technology sector.

AP - JPMorgan Chase & Co., the nation's third largest bank, on Wednesday reported a 55 percent increase in first-quarter profit reflecting strength across most of its primary business lines, although it increased reserves to offset subprime mortgage losses.

AP - Medical device maker Abbott Laboratories Inc. said Wednesday its first-quarter profit fell 19 percent as the company wrote down the value of its holdings in Boston Scientific stock and incurred integration costs related to the purchase of assets from that company last year.

AP - Quarterly results from International Business Machines Corp. are falling into a pattern: Despite weak spots in certain geographies or business units, the company manages to hit its targets and increase its overall profitability.

AP - Investors were falling in love with Yahoo Inc. again until the Internet icon's disheartening first-quarter results ruined the mood. The Internet company's shares plunged 11 percent in Wednesday morning's trading.

Reuters - Bank of New York Co. , which is buying Mellon Financial Corp. , said on Wednesday that first-quarter profit rose 3 percent, helped by higher fees from holding securities and processing trades for institutional investors.

AP - Wall Street was narrowly mixed Wednesday, with investors hesitant about buying into the broader market after being rattled by disappointing earnings from technology leaders including Yahoo Inc. Bond prices extended their advance as investors grew optimistic that the Federal Reserve won't raise interest rates.

AP - Investors were falling in love with Yahoo Inc. again until the Internet icon's disheartening first-quarter results ruined the mood. The Internet company's shares plunged 11 percent in Wednesday morning's trading.

Reuters - AMR Corp. , parent of No. 1 U.S. air carrier American Airlines, swung to an $81 million profit on Wednesday from a year-ago loss as it filled more seats on planes, charged higher fares and paid less for fuel.

Reuters - United Technologies Corp. said on Wednesday strong demand for jet engines and Otis elevators, particularly from foreign markets, helped boost quarterly profit 6.6 percent.

AP - Marcus Brauchli has been named the new managing editor of The Wall Street Journal, replacing Paul Steiger who has led the paper since 1991, the paper's parent company said on Wednesday.

AP - Netflix Inc. on Wednesday posted the highest first-quarter profit in its 8-year history, but the online DVD rental pioneer's performance flopped on Wall Street.

AP - Kraft Foods Inc., the world's second-largest food and beverage maker, posted a 30 percent decline in first-quarter earnings Wednesday in reporting results for the first time as an independent company.

AP - Yahoo Inc.'s comeback story took a $5 billion step backward Wednesday as the Internet portal's stock price plummeted by nearly 12 percent in response to a discouraging first-quarter earnings report.

AP - E-Trade Financial Corp. on Wednesday reported first-quarter results that beat Wall Street projections, but the discount brokerage warned recent market turbulence will dent earnings for the year.

Reuters - AMR Corp. , parent of No. 1 U.S. air carrier American Airlines, swung to an $81 million profit on Wednesday from a year-ago loss as it filled more seats on planes, charged higher fares and paid less for fuel.

AP - The Dow Jones industrial average closed above 12,800 for the first time Wednesday, signaling Wall Street's recovery from its steep decline in February as investors rewarded companies with strong earnings.

Reuters - Motorola Inc. reported a quarterly loss on Wednesday and gave a forecast that raised doubts over when the world's second-biggest mobile phone maker could turn around its business and return to profit.

Reuters - Kraft Foods Inc., the largest U.S. food company, posted lower first-quarter profit on Wednesday as it spent more on marketing to lift sales, but its shares rose 1 percent as it maintained its full-year outlook.