NY primary, oil, earnings—Wall Street's busy day


U.S. stock futures were under some pressure this morning, after the Dow and S&P 500 closed Tuesday at highs for the year. European markets were mixed today and so were Asian stocks. But China's Shanghai composite fell 2.3 percent. (CNBC)

First-quarter earnings season continues on Wall Street, with Dow component Coca-Cola (KO) out with results this morning. American Express (AXP), also a Dow stock, leads this afternoon's after-the-bell reports. (CNBC)

Crude prices were sharply lower this morning, giving up most of Tuesday's gains, after Kuwaiti oil workers ended a three-day strike that choked supply. Industry data showed U.S. stockpiles rose last week. The government issues its weekly crude inventory report at 10:30 a.m. ET. (Reuters)

President Barack Obama arrived in Saudi Arabia today for a meeting with King Salman. Oil prices and the upheaval in the Mideast are expected to be tops on the agenda. (New York Times)

Hillary Clinton took a major step toward securing the Democratic presidential nomination, with a big win in Tuesday's New York primary that interrupted an eight-contest winning streak for rival Bernie Sanders. (NBC News)

GOP presidential front-runner Donald Trump celebrated Tuesday's crushing New York primary victory. The latest projections foresee the billionaire close to the 1,237 delegates needed to clinch the nomination come convention time. (NBC News)

Fellow billionaire Carl Icahn was on hand last night for Trump's New York victory speech. Icahn said, "Trump is the only candidate who can stop the terrible gridlock in Washington and make Congress work again." (CNBC)

Dow stock Intel (INTC) late Tuesday reported earnings that exceeded forecasts, with revenue in-line with estimates. But the chipmaker warned on guidance and announced job cuts of 12,000 positions or about 11 percent of its workforce. (CNBC)

Yahoo (YHOO) beat on earnings and matched expectations on revenue. But most attention is focusing on the ongoing sale of Yahoo's core internet business. Verizon (VZ) is said to be the leading contender. (CNBC)

In response to complaints about check-out delays caused by new chip-enabled credit and debit cards, Visa (V) said it's launching software to cut as many as 18 seconds off payment times. (WSJ-subscription)

The European Commission has accused Alphabet's (GOOGL) Google unit of anti-competitive charges, relating to its Android mobile phone operating system. EU charges would open up a second front with Google. (CNBC)

Mitsubishi Motors said today it's found problems in the way the automaker had tested some of its vehicles for fuel economy. The stock lost 15 percent in Japan on the news. (CNBC)

Michigan Attorney General Bill Schuette is expected to announce criminal charges today against at least two people in connection with the Flint drinking water crisis. (Detroit Free Press)

U.S. prosecutors have opened a criminal investigation "regarding matters" related to the 'Panama Papers' leak of documents that have revealed secret offshore bank accounts linked to the rich and powerful. (FT)


The National Association of Realtors issues March existing home sales at 10 a.m. ET, with forecasts calling for a 4.3 percent increase to an annual rate of 5.3 million units, after falling 7.1 percent in February.

Interest rates held relatively steady last week, near one-year lows, but home buyers were not too motivated. Total mortgage application volume increased 1.3 percent, according to the Mortgage Bankers Association. Refis rose 3 percent.


Yum Brands (YUM) is in talks to sell a controlling stake in its China unit to a consortium consisting of China Investment Corporation, KKR (KKR), and Baring Private Equity Asia. Yum reports earnings after the bell.

United Continental (UAL), also set to report earnings this afternoon, announced the appointment of two new directors chosen by activist investors PAR Capital and Altimeter Capital.

Lexmark (LXK) agreed to be bought by an investment group consisting of China's Apex Technology, PAG Asia Capital, and Legend Capital Management in a cash transaction worth $3.6 billion.

VMWare (VMW) beat forecasts on earnings and basically matched estimates on revenue. The maker of virtualization software also gave strong current quarter revenue guidance and announced a $1.2 billion share buyback.

Intuitive Surgical (ISRG) beat expectations on earnings and revenue. The maker of surgical devices saw shipments of 110 da Vinci surgical systems during the quarter, up from 99 a year earlier.


Fans of Auntie Anne's pretzels can now enjoy the savory treat in the morning thanks to Carl's Jr. and Hardee's. They're offering a Pretzel Breakfast Sandwich with sausage, egg, and cheese. (CNBC)

Both marijuana smokers and non-smokers recognize today April 20, or 4/20, as a national holiday for cannabis culture, but few actually know how the date was chosen. Until now. (TIME)