[R]4:20PM NY; 10:20PM Frankfurt; 3:10AM Mumbai - GLOBAL MARKETS[/R]
Stock market averages closed higher in New York as the Fed Chairman expressed his views on economic health and inflation. European markets closed higher on mining and tech stocks. Latin American markets tagged along with a sharp rise in Brazil. Chrysler Group plans to cut 13,000 jobs in America.

Yield on 10-year bond closed at 4.733% and the 30-year bond closed at 4.827%.

Gold increased $4.700 to close at $673.200 a troy ounce, silver gained 12.5 cents to end at $14.040 a troy ounce and copper advanced $283 to close at $5,721 per metric ton.

Oil lost $1.090 to close at $57.970 a barrel and heating oil decreased 5.490 cents to finish at 163.830 cents a gallon. Natural gas declined 11.2 cents to close at $7.255 per MMBtu. Gasoline went up 0.860 cents to end at 161.770 cents a gallon.

Asian markets closed mostly higher, with Australia's leading share index hitting a record high, after industrial-metals and crude-oil prices rebounded and as takeover speculation in the metals sector swirled. The advancers were led by Philippines with a gain of 2.07%, Indonesia with an increase of 1.37% and South Korea with an advance of 1.25%. The only decliner was India with a loss of 0.58%. Australia gained 0.51%.

European markets ended higher as autos, mining and technology stocks advanced and testimony by Ben Bernanke lifted sentiment. The advancers were led by Germany with an increase of 0.95%, France with a gain of 0.76% and Switzerland with an advance of 0.64%. There were no decliners.

Latin America markets closed higher in part on the back of remarks by U.S. Federal Reserve Chairman Ben Bernanke, who said he saw inflationary pressures started to diminish. The advancers were led by Brazil with an increase of 1.55%, Mexico with a gain of 1.38% and Argentina with an advance of 0.68%. There were no decliners. Canada advanced 0.26% as gains in the materials, industrials and telecom groups helped fuel the increase.

[R]3:00PM NY, U.S. Market Movers[/R]
Garmin, Asian Satellite, Dollar Thrifty, Deere and Corillian jump on earnings and possible buy out news.

Affiliated Computer Services Inc. (ACS: chart) second-quarter profit fell from a year ago, but the company beat analysts' forecast for its bottom line by a penny. The IT services company said it earned $72.1 million, or 72 cents per share, compared with $102.4 million, or 81 cents per share, in the same three-month period last year. This year's quarter included 9 cents per share in legal and other expenses related to the company's stock option inquiry. Shares outstanding fell to 100.2 million from126.9 million. Revenue rose 5.9% to $1.43 billion.

Asia Satellite Telecommunications Holdings Ltd. (SAT: chart) shares climbed 28.2% after the company said its major shareholder planned to take the company private to allow management to focus on business development in competitive market. Modernday Ltd., jointly owned by CITIC Group and General Electric Capital Corp., plans to offer HK$18.30 a share in cash for 121.4 million Asia Satellite shares or 31.1% stake.

Corillian Corp. (CORI: chart) rocketed more than 45% after the company, which sells Internet-based software to financial services firms, agreed to sell itself to electronic payment processor CheckFree (CKFR: chart) for $5.15 per share, or roughly $245 million. The deal will close around June 1. Corillian gained $1.57 to $5.02. Checkfree shares dipped 42 cents, or 1%, to $41.20.

DaimlerChrysler (DCX: chart) shares rose 7.9% after the company unveiled a restructuring plan that calls for the elimination of about 13,000 jobs within its Chrysler group. The automaker said fourth-quarter profit dropped 40% to 577 million euros ($749 million), while revenue slipped 2% to 40.66 billion euros. While Chrysler Group swung to a 124 million euro operating loss, Mercedes Group's operating profit rose to 1.3 billion euros during the quarter. Its truck division more than tripled its operating profit, and its financial services operating profit improved 15%.

Deere & Co. (DE: chart) jumped 10% after the tractor maker's first-quarter results topped expectations. For the last quarter, the company earned $238.7 million, or $1.04 per share, on revenue of $4.43 billion. Analysts expected earnings of 79 cents per share and revenue of $3.85 billion. A year earlier, the company earned $235.9 million, or 99 cents per share, on revenue of $4.2 billion.

Dollar-Thrifty Automotive Group (DTG: chart) shares rose 8.3% after the rental car subsidiary of DaimlerChrysler, and Vanguard Car Rental, the private rental company that runs Alamo and National, are exploring merge possibility in a deal worth more than $3 billion, according to an article published Wednesday in The New York Times.

First Solar Inc. (FSLR: chart) shares soared 25% after the maker of solar modules posted better-than-expected fourth-quarter results. The company earned $8 million, or 12 cents a share, compared with Wall Street's forecast for a loss of 7 cents a share. Revenue totaled $52.7 million, topping analysts' mean estimate of $43 million. A year earlier, First Solar posted a loss of $7.2 million, or 14 cents a share, on revenue of $13.6 million. Shares were trading up $8.84 to $43.12.

Garmin Ltd. (GRMN: chart) said quarterly earnings more than doubled helped by its automotive/mobile segment and forecast a strong 2007, sending its shares to a new high to $56, up 7% today. Net income for the quarter surged to $180.3 million or 82 cents a share, from $87.1 million, or 40 cents a share, a year ago. Excluding foreign exchange, it earned 87 cents a share. Revenue rose over 90% to $611.2 million boosted by its automotive/mobile segment revenue, which rose 173 percent to $445 million.

Kreisler Manufacturing Corp. (KRSL: chart) shares jumped 41.5% after the precision metal components and assemblies manufacturer, said that its second-quarter net earnings increased to $607,000, or 33 cents per share, compared with $289,794, or 16 cents per share last year. Revenue climbed to $6.02 million versus $4.43 million in the same period a year earlier.

SPSS Inc. (SPSS: chart) jumped after the analytical-software company said fourth-quarter operating income spiked 36% to $11.7 million from a year ago; excluding a large no cash income tax charge, per-share earnings totaled 43 cents. Revenue rose 14% year over year to $71.1 million. Analysts polled by Thomson Financial were looking for 34 cents a share on revenue of $67.5 million. Shares of the Chicago-based company were up $4.91, or 15.4%, to $36.79.

Carter's (CRI: chart) was sliding on disappointing 2007 guidance. The Atlanta-company pegged full-year profits between $1.42 and $1.49 a share on sales of $1.4 billion to $1.42 billion, and expects no same-store sales growth. Wall Street is seeking earnings of $1.72 a share on sales of $1.47 billion.

Daktronics Inc. (DAKT: chart), electronic scoreboards and video displays maker, said that its third-quarter net income increased to $7.03 million, or 17 cents per share, compared with $4.04 million, or 10 cents per share, in the year-ago period. Revenue climbed to $106.7 million against $71.1 million in the same period a year earlier. Shares were down 21.7%.