2:30PM NY, U.S. Market Movers

MetroPCS Communications Inc. (PCS: chart), wireless service provider, shares climbed 6.52% after the company said its first-quarter income more than doubled due to new net subscriber growth. MetroPCS reported a net income of $30.2 million, or 11 cents per share, in its first quarter, compared with $12.2 million, or 4 cents per share, in the same quarter last year. Revenue for the quarter jumped 63% to $536.7 million versus $329.5 million in the year-ago period.

Ingersoll-Rand Co. (IR: chart), refrigeration equipment, locks, tools and machinery maker, said that it will evaluate alternatives for company’s Bobcat and construction-related businesses, including a possible sale or spin-off to shareholders. The company''s board approved the expansion of its share repurchase plan to $4 billion from $2 billion previously. Ingersoll-Rand said it will complete $2 billion of buybacks by the end of the third quarter. About $330 million shares have been repurchased to date under the authorization. Ingersoll-Rand said the company’s Bobcat, utility equipment and attachments business generated about $2.6 billion in 2006 revenue. As a result shares of the company climbed 7.36%.

Altana AG (AAA: chart) topped the list of most percentage price gainers on the New York Stock Exchange. Shares of the company climbed 20.98%.

Biodel Inc. (BIOD: chart), which specializes in treatments for diabetes and osteoporosis, shares climbed 20% after the company reported that it has two insulin product candidates in clinical trials to treat diabetes.

Linn Energy LLC (LINE: chart), oil and gas company, said it recorded a first-quarter loss, as a large loss in energy trading undermined rising output. Shares fell 5.34%. Quarterly losses totaled $67.8 million, or $1.35 per share, compared with a prior-year profit of $22 million, or 84 cents per share. Revenue from oil and gas sales, marketing and other activities increased to $43.1 million versus $17.9 million a year earlier.

STEC Inc. (STEC: chart), computer memory maker, said that its guidance was disappointing amid an unstable pricing climate. Two Wall Street brokerage houses cut ratings on the company. The company also said its first-quarter profit jumped on the sale of its consumer unit, but warned of a softer market and falling component prices. Shares of the company declined 25.7%.

Kaiser Aluminum Corp. (KALU: chart) first-quarter profit declined 55% as higher costs offset sales growth. Net income fell to $17.1 million compared with $38.4 million a year ago. Per-share earnings increased to 86 cents to 48 cents as the company reduced its number of shares outstanding to 20.2 million from 79.7 million. Sales rose 17% to $392.2 million against $336.3 million last year as the company raised prices on its metals and fabricated products and boosted shipments to the aerospace and defense industries.

Bare Escentuals Inc. (BARE: chart), cosmetic and skin care products maker, said it filed for a public offering of 10 million shares of its common stock. Certain stockholders are offering 9.9 million shares, while the company is offering 100,000 shares. Shares fell 3.78%.

Biosite Inc. (BSTE: chart), medical test maker, shares of fell 3.19% after a potential buyer said it will not take part in a further bidding war for the company. Beckman Coulter Inc. said it would not raise its buyout offer for Biosite above the $90 per share, a $5 hike from its original offer, made in March.

1:00PM NY, 5:00 PM Frankfurt European stocks gained ground on U.S. data and gains for DaimlerChrysler, Reuters, Hanson.

European stock markets gained ground on Tuesday, boosted by in-line-with-expectations U.S. core inflation data. The upward move was also contributed by deal-related gains from media firm Reuters Group and construction giant Hanson. Notable gains in the shares of DaimlerChrysler gave also proved support. Reuters rose 3.4% after it agreed to back a $17.2 billion takeover from Canada''s Thomson Corp. Building-materials supplier Hanson rose 4.7% as Germany''s HeidelbergCement agreed to pay 8 billion pounds ($15.8 billion) for the company.

Elsewhere, Italian bank Capitalia climbed 5.3%. Among earnings-related gainers, Daimler Chrysler rose 3% after the company reported Q1 net profit of $2.64 billion, up from a year-ago equivalent profit of $1.05 billion. The U.K.''s FTSE 100 added 0.2% at 6,568.60, the German DAX Xetra 30 rose 0.6% at 7,505.35 and the French CAC-40 advanced 0.4% at 6,049.76.


11:30AM Market averages advanced on tame inflation data.

U.S. stock averages moved higher, sending the Dow industrials to an all-time high above 13,450, as tame inflation data offset disappointing earnings from Home Depot (HD: chart) and Wal-Mart Stores (WMT: chart). The advance by the Dow was largely attributed to another strong performance of General Motors (GM: chart), rising 4.3%. Blue chips were also supported by 1% gains in the shares of Boeing (BA: chart) and General Electric (GE: chart). Interest-rate sensitive companies posted gains on optimism that the Fed Reserve will reduce interest rates in the near future. Credit card issuer American Express Co. (AXP: chart) and investment bank JPMorgan Chase (JPM: chart) gained 1.1% each.

In corporate news, Tyco International (TYC: chart) agreed Tuesday to pay about $3 billion to settle shareholder claims that arose after former CEO Dennis Kozlowski and other top officers were charged with multiple counts of grand larceny, conspiracy, securities fraud and falsifying business records. Tyco shares gained 1.4%. Ingersoll Rand Co. (IR: chart) surged 8% after the company said it is exploring the sale of spin-off of its Bobcat and construction-related businesses. Its board also doubled its manufacturing share repurchase program to $4 billion. The Dow Jones industrial average was up 83.38 points, or 0.62%, at 13,430.16. The Standard & Poor''s 500 Index was up 6.72 points, or 0.45%, at 1,509.87. The Nasdaq Composite Index was up 3.04 points, or 0.12%, at 2,549.48.


9:45AM U.S. markets opened mixed on rate cuts optimism and disappointing earnings.

U.S. stocks opened mixed Tuesday. Hopes that the Fed Reserve will cut interest rates amid weaker-than-expected consumer price inflation in April generated positive sentiment, but disappointing results from Home Depot and Wal-Mart Stores weighed. The Labor Department said that the consumer price index rose 0.4% after rising 0.6% in March, while core prices rose 0.2% after a 0.1%gain.