FT.com - Negative sentiment took hold in Tokyo this morning, as concerns rose about the impact of a US slowdown on foreign investment in Japanese stocks.

TechWeb - AT&T said its net income was $2.8 billion for the quarter, up from $1.4 billion a year ago, an indication that its $86 billion acquisition of BellSouth is proceeding smoothly.

AP - After two years of technology investments that sent revenues and profits moving in opposite directions, Amazon.com's spending may finally be paying off.

FT.com - London equities moved higher in opening trade on Wednesday, helped by gains for J Sainsbury after 245m shares in the supermarket chain suddenly changed hands. Further developments in the bid battle for control of Dutch bank ABN Amro moved shares in its UK suitors.

FT.com - J Sainsbury was the focus on traders' attention on Wednesday as rumoured stakebuilding drove its shares sharply higher.

AP - Oil prices inched up Wednesday ahead of the release of a weekly U.S. petroleum supply snapshot expected to show that domestic crude stocks fell and gasoline inventories rose.

Reuters - PepsiCo Inc. reported higher quarterly profit on Wednesday as strong sales of its Frito Lay snacks helped offset weakness in its North American soft drink business.

Reuters - Industrial gas supplier Praxair Inc. said on Wednesday first-quarter earnings rose, spurred by strong volume growth in all its major end markets.

Reuters - Hair salon operator Regis Corp. on Wednesday reported lower quarterly net profit as it took a $19.6 million charge for its beauty school operations.

AP - Honda Motor Co., maker of the Civic, Accord and Odyssey vehicles, reported a 20 percent drop in profit for the January-March quarter despite solid sales that helped mark its seventh straight fiscal year of record sales.

AP - Oil prices rose Wednesday before the release of weekly U.S. petroleum supply data, which was expected to show that domestic crude stockpiles fell and gasoline inventories rose.

AP - ConocoPhillips, the nation's third-largest oil and gas producer, said Wednesday its first-quarter profit rose 7.7 percent as income from asset sales helped offset lower commodity prices and higher operating costs.

AP - Boeing Co. said Wednesday that its first-quarter earnings climbed 27 percent, thanks largely to robust orders for commercial airplanes and strong defense business.

AP - PepsiCo Inc., the world's second-largest soft drink maker, said Wednesday its first-quarter profit rose 16 percent on the strength of its international and Frito-Lay snacks divisions.

AP - UPS Inc., the world's largest shipping carrier, said Wednesday its first-quarter profit dropped 13.5 percent due to charges related to aging jet aircraft and a slowing U.S. economy.

AP - Defense contractor General Dynamics Corp. on Wednesday said its first-quarter profit rose 16 percent on higher sales in its private jet, information technology and military vehicle units.

Reuters - Package delivery company United Parcel Service Inc. on Wednesday reported a lower quarterly profit due to a charge related to aging aircraft and voluntary layoff expenses.

AP - WellPoint Inc., the nation's largest health insurer, said Wednesday its first-quarter profit rose 7 percent, as revenue increased on growth in medical enrollment.

AP - Raytheon Co., the world's fifth-largest defense contractor, said Wednesday its first-quarter profit rose 21 percent on strong sales of missiles and battle operations communications systems, and improving results at an aircraft unit that it sold last month.

AFP - The leading Dow Jones Industrial Average stock index broke the 13,000-point barrier for the first time in opening deals Wednesday as investors cheered a flurry of upbeat profit reports.

FT.com - Wall Street stocks were trading higher at midmorning on Wednesday, and optimism over earnings and business investment sent the Dow Jones Industrial Average beyond the 13,000 threshold barrier for the first time.

Reuters - Anheuser-Busch Cos. Inc. said on Wednesday that quarterly profit rose on cost cutting and higher beer prices, but the results missed Wall Street expectations, helping to send the brewer's shares down 2.3 percent.

AP - Defense contractor General Dynamics Corp. on Wednesday said its first-quarter profit rose 16 percent on higher sales in its private jet, information technology and military vehicle units.

Reuters - Auto parts maker Lear Corp. , which plans to sell itself to an affiliate of billionaire investor Carl Icahn, said on Wednesday quarterly earnings rose, supported by new business and cost-cuts in its seating unit.

AP - The Dow Jones industrial average shot past 13,000 for the first time Wednesday as stronger-than-expected earnings reports streamed in, suggesting to investors that corporate America is successfully weathering the cooling economy.

FT.com - Wall Street cheered a string of better than expected earnings and a rise in reported capital spending on Wednesday, propelling the Dow Jones Industrial Average through the 13,000 threshold for the first time.

AP - Oil prices rose Wednesday after the government's weekly U.S. petroleum supply report showed a large and unexpected decline in gasoline stockpiles.

AP - Boeing Co. said Wednesday that its first-quarter earnings climbed 27 percent, thanks largely to robust orders for commercial airplanes and strong defense business.

AP - Pricier beer and fewer discounts pushed Anheuser-Busch Cos. Inc. earnings up 3.7 percent in the first quarter, the nation's largest brewer said Wednesday, but the results were below Wall Street expectations.

AP - United Airlines parent UAL Corp. reported a worse-than-expected loss of $152 million for the first quarter Wednesday, its second straight period in the red just a year after its emergence from bankruptcy.

Reuters - E.W. Scripps Co. said on Wednesday quarterly profit dropped with weak newspaper advertising and a loss for its Internet business, while magazine company Meredith Corp. posted revenue below Wall Street forecasts, sending both their stocks lower.

Reuters - Anheuser-Busch Cos. Inc. said on Wednesday that quarterly profit rose on cost cutting and higher beer prices, but the results missed Wall Street expectations, helping to send the brewer's shares down 2.3 percent.

Reuters - PepsiCo Inc. on Wednesday reported a 16 percent rise in quarterly profit, topping Wall Street estimates, as strong sales of its Frito Lay snacks helped offset weakness in its North American soft drink business.

FT.com - Wall Street cheered a string of better than expected earnings and a rise in reported capital spending on Wednesday, propelling the Dow Jones Industrial Average through the 13,000 threshold for the first time.

AP - The Dow Jones industrial average shot past 13,000 for the first time Wednesday as stronger-than-expected earnings reports streamed in, suggesting to investors that corporate America is successfully weathering the cooling economy.

FT.com - Pub operator Punch Taverns was in demand on Wednesday after a leading broker ad­vised clients to buy ahead of next week's interim figures.

FT.com - Wall Street cheered a string of better than expected earnings and a rise in reported capital spending on Wednesday, propelling the Dow Jones Industrial Average through the 13,000 threshold for the first time.

AP - Profit outlooks for defense contractors have turned murky as Congress faces down President Bush over defense funding and the war in Iraq, and the Pentagon subjects contractors to greater scrutiny over performance.

AP - ConocoPhillips, the nation's third-largest oil and gas producer, said Wednesday its first-quarter profit rose 7.7 percent as income from asset sales helped offset lower commodity prices and higher operating costs.

AFP - The leading Dow Jones Industrial Average share index closed at a record high Wednesday, finishing above 13,000 points for the first time as investors celebrated ballooning corporate profits.

Reuters - The Dow closed above 13,000 for the first time and the broader stock market rose to its highest level in more than six years on Wednesday, after a steady parade of strong profit reports and reassuring news on the economy.

AP - Oil prices surged Wednesday after the government's weekly U.S. petroleum supply report showed a large and unexpected decline in gasoline stockpiles and a 2.6 percent drop in refinery utilization.

AP - Apple Inc. blew past Wall Street expectations Wednesday, posting quarterly profits that jumped by 88 percent, fueled by strong sales of its iPod players and Macintosh computers.

AP - Pricier beer and fewer discounts pushed Anheuser-Busch Cos. Inc. earnings up 3.7 percent in the first quarter, the nation's largest brewer said Wednesday, but the results were below Wall Street expectations.

AFP - The leading Dow Jones Industrial Average share index struck a record peak Wednesday, smashing the 13,000-point barrier for the first time as investors cheered ballooning corporate profits.

Investor's Business Daily - Apple shattered Wall Street's earnings expectations for its fiscal second quarter, thanks to robust sales of Macintosh computers and iPod music players.