2:45PM NY – U.S. Market movers.

Hilton Hotels corp. (HLT: chart) reported first quarter earnings of $95 million compared to $104 million a year ago or earnings per share of 23 cents vs. 26 cents a year ago. The revenue in the quarter rose 29% to $1.86 billion. The results include $30 million gain of asset sales and currency translation loss of $8 million. The company earnings would have been 20 cents vs. 15 cents in the previous year when non-recurring items and Hilton International acquisition was assumed at the beginning of the year 2006. The company stock declined 2.8% on the news.

Humana (HUM: chart), health insurance provider, reported $71.2 million compared to $83.7 million a year ago or 42 cents per share vs. 50 cents per share a year ago. In the previous year the company had reported a one time gain of 19 cents or $51.7 million on investment sale. The company revenue in the quarter rose 32% to $6.2 billion from the previous year. The company also revised its full year earnings guidance to $4.10 and $4.25 per share range from $4.00 to $4.10 per share. Commercial medical insurance membership was down 1% from the end of the year 2006 and was unchanged from a year ago. Membership in the stand-alone drug plan rose to 3.5 million from 2 million a year ago. Membership in the Medicare Advantage rose to 1.1 million, up 11% from the end of the year 2006.

Wm. Wrigley Jr. Co. reported first quarter income of $142.7 million compared to $111.9 million a year ago or 52 cents vs. 40 cents a year ago. The company revenue in the quarter rose 17% to $1.26 billion. Sales in the U.S. rose 3% and gained 27% in Europe, Middle East, Africa and Asia. The company stock rose 11% in the early morning but settled at 6% advance in the afternoon trading.


1:00AM NY, 5:00 PM Frankfurt European stocks closed higher, boosted by energy and utility stocks.

European stock markets finished in the green on Monday, driven higher by gains in the shares of Cable & Wireless and strength among energy-producing conglomerates and utility companies. Stock exchange deals, oil, bank and telecom stocks were in M&A action today.

Before paring gains, Cable & Wireless rose as much as 5.5% amid reports that the telecommunications company is considering the sale of its British and international businesses. Oil and gas companies advanced, with BP rising 0.7% on bid speculation. Eni rose 0.6% after the Italian oil group agreed to buy Gulf of Mexico fields from Dominion in a $4.8 billion deal. Telecom Italia fell 2.3% after Spanish phone giant Telefonica and a group of Italian financial firms bought 100% of its largest shareholder.

Among companies driven by analyst comments, Next shares rose 2% after Morgan Stanley upgraded the company to overweight from equal-weight and raised its target price. The German DAX Xetra 30 increased 0.4% at 7,408.87 and the French CAC-40 advanced 0.5% at 5,960.04, and the U.K.''s FTSE 100 rose 0.5% at 6,449.20. The Turkish stock market dropped more than 6% after the military threatened to intervene in upcoming elections.


11:30AM U.S. stock averages traded mixed, with the Dow hitting a new record high.

U.S. market averages traded mixed in late morning trading amid economic reports which revealed tame inflation, as well as weak spending, manufacturing and construction data. The Dow hit another record high, boosted by optimism over corporate profits.

The blue-chip average was supported by gains for 3M (MMM: chart) and Procter & Gamble (PG: chart) which advanced 1% and 2%, respectively. Dow member Citigroup (C: chart) was another notable advancer, moving up 2% amid reports that the bank may become the target of activist hedge funds. Again on the Dow, Verizon Communication (VZ: chart) added 0.8% after it posted better-than-expected quarterly earnings and revenue.

By sector, utilities oil and hardware stocks stood out among gainers, while transportation, software and gold shares declined. Financial stocks also gained. Merrill Lynch (MER: chart) rose 0.8% after announcing a plan to buy back up to $6 billion of its own stock.

In merger-and-acquisition news, International Securities Exchange (ISE: chart) surged 42% amid reports that it is in talks to be acquired by Deutsche Boerse for $2.8 billion. The price amounts to $67.50 per ISE share, representing 48% over ISE''s closing price of $45.72 on April 27. New York-based ISE, in a separate statement, said the final terms are still being negotiated.

The Dow was up 15.60 points, or 0.12%, at 13,136.54. The Standard & Poor''s 500 Index was up 1.18 points, or 0.08%, at 1,495.25. The Nasdaq Composite Index was down 0.48 point, or 0.02%, at 2,556.73.


9:45AM U.S. markets opened lower, despite positive news from Merrill Lynch and Verizon.

Wall Street opened in the negative on Monday, as investors digested data which showed tame inflation and spending growth. Upbeat earnings from Verizon Communication and a share buyback from Merrill Lynch failed to give a strong boost. Verizon (VZ: chart) quarterly results topped expectations but the stock added only 0.2%. Merrill Lynch (MER: chart) inched up 0.2% on plans to buy back up to $6 billion of its own stock under a new share repurchase program. The company completed a $5 billion buyback program in October 2006 and a $6 billion program in February 2006.

Among companies in focus, Delta Air Lines (DALRQ: chart) tumbled 66% as the U.S. air carrier emerged from Chapter 11 bankruptcy protection a year ahead of schedule after a 19-month restructuring. The airline said that now it has better positions to compete as a result of its turnaround plan. In merger-and-acquisition news, International Securities Exchange (ISE: chart) surged 41% amid reports that it is in talks to be acquired by Deutsche Boerse for $2.8 billion. In another deal, Dominion Resources (D: chart) agreed to sell its Gulf of Mexico fields to Eni (E: chart) for $4.76 billion.

On the economic news front, the Commerce Department said that core personal consumption index rose 2.1% in the past 12 months, but came down from a 2.4% rise in February. U.S. consumer spending grew a little less than expected, while personal incomes rose slightly higher than forecast. In the first hour of trading, the Dow Jones industrial average fell 13.17, or 0.10%, to 13,107.77. The Standard & Poor''s 500 index was down 1.65, or 0.11%, to 1,492.42, and the Nasdaq composite index was down 7.73, or 0.30%, to 2,549.48.