[R]9:30AM New York – U.S. stocks opened lower as inflation worries dominate trading sentiment. Asian markets closed higher.[/R]

Staples Inc agreed to purchase Amsterdam, the Netherlands based Corporate Express for 1.7 billion euros and assume 1 billion euro debt and pay 300 million euros for the preferred stocks. The deal was consummated after Staples revised its offer price by 28% from its initial offer in March. Corporate Express will also pay a termination fee to break a deal that the Corporate Express signed with France based Lyreco.

U.S. earnings review

Hooker Furniture Corporation, an importer and manufacturer of residential furniture reported first quarter revenues slipped 9% to $71 million from $77.3 million a year ago. Net income in the quarter decreased 65.38% to $2.6 million or 23 cents per diluted share compared to net income of $4.3 million or 33 cents per share, a year ago.

Hooker Furniture Corporation (HOFT: chart) in the last one year traded as high as $24.00 in March 2008 and as low as $15.52 in November 2007.

Korn/Ferry International, a global recruitment services company reported fourth quarter revenues rose 16% to $220.5 million from $189.8 million a year ago. Net income in the quarter increased 14.01% to $15.7 million or 36 cents per diluted share compared to net income of $13.5 million or 30 cents per share, a year ago.

Korn/Ferry International (KFY: chart) in the last one year traded as high as $27.13 in June 2007 and as low as $13.10 in January 2008.

World markets review

European stocks traded mixed at mid-day on rising inflation in France and current account deficit in EU27.

The CAC 40 gained 0.43% in midday to 4,781.62. In Germany the DAX 30-index advanced 17.23 points or 0.25% to 6,788.33. Stocks in Switzerland fell as the Swiss Market index retreated 36.27 points or 0.50% to 7,247.94. The FTSE 100 gained 3.20 points or 0.05% to 5,830.50.

In Tokyo Nikkei 225 Index closed higher 162.31 or 1.16% to 14,183.48, in Hong Kong Hang Seng index decreased 47.92 or 0.21% closed to 23,327.60. In Australia ASX 200 index higher 29.80 or 0.55% to close 5,467.30. In Malaysia KL Composite index decreased 1.68 or 0.14% closed to 1,229.28.

In South Korea Kospi Index increased 7.29 or 0.41% to close at 1,781.67, in Thailand SET index closed lower 0.28 or 0.04% to 791.66 and Indonesia JSE Index edged increased 0.97 or 0.04% to 2,374.78. Sensex index in India increased 296.07 or 1.99% to 15,185.32.