[R]4:15PM NY; 10:15PM Frankfurt; 1:45AM Mumbai - GLOBAL MARKETS[/R]

Major averages in New York traded sideway on a day when existing home sales and consumer confidence report showed declines. Home sales in March fell 11.3% from a year ago and 8.4% from February. Home prices declined on both coasts. U.S. consumer confidence declined according to a private report. Rise in earnings and talk of share buyback from several companies lifted Dow and S&P 500, but broader market failed to join the rally. Real estate and construction stocks fall weighed on European indexes at close. In Asian trading India rebounded on Reserve Bank of India leaving short term rates unchanged. Brazil lost on a decline in banking stocks.

Yield on 10-year bond closed at 4.619% and the 30-year bond closed at 4.803%.

Gold lost $6.500 to close at $687.700 a troy ounce, silver decreased 26.8 cents to end at $13.782 a troy ounce and copper gained $56.000 to close at $8043.000 per metric ton.

Oil lost $1.310 to close at $64.580 a barrel and heating oil declined 4.830 cents to finish at 184.600 cents a gallon. Natural gas increased 3.6 cents to close at $7.598 per MMBtu. Gasoline went up 1.820 cents to end at 220.890 cents a gallon.

Asian markets closed ended mostly lower with Japan closing slightly lower amid concerns over rising oil prices and Hong Kong finishing higher by a fraction on gains in the property sector. The decliners were led by Philippines with a loss of 0.82%, Singapore with a decrease of 0.41% and Indonesia with a decline of 0.26%. The advancers were led by India with a gain of 1.50%, South Korea with an advance of 0.80% and Taiwan with an increase of 0.43%. Australia lost 0.31%.

European markets finished lower hurt by weaker-than-expected U.S. consumer confidence and housing data. The decliners were led by Spain with a decline of 2.73%, Germany with a decrease of 0.89% and U.K. with a loss of 0.77%. There were no advancers.

Latin America markets finished lower. The decliners were led by Argentina with a decline of 0.45% and Mexico with a loss of 0.01%. Brazil lost 0.7%. Petrobras and banking stocks led the decliners. Cemex in Mexico fell on lower than expected earnings. Canada lost 0.34% as gains in energy stocks were offset by losses in the financial services and materials groups.

[R]2:30PM NY, U.S. Market Movers[/R]

Corn Products International Inc. (CPO: chart) shares climbed 9.5% after the company lifted its outlook and said that its first-quarter profit more than doubled on pricing power in most parts of the world. For the quarter, the company posted net income of $50 million, or 66 cents per share, compared with $23.4 million, or 31 cents per share, in the prior-year period. The company reported revenue of $761.9 million, up 24% from $614.8 million, a year earlier.

Whirlpool Corp. (WHR: chart) said its first-quarter profit dipped 1% due to higher costs for materials and lower demand for appliances in the United States because of the slumping housing market. Earnings edged lower to $117 million, or $1.46 per share, from $118 million, or $1.70 per share in the previous year. Quarterly revenue climbed 24% to $4.39 billion from $3.54 billion in the prior year on strong international results and the addition of Maytag. Excluding the acquisition and the benefits from foreign exchange rates, sales rose about 2%. Shares climbed 11.4%.

Snap-on Inc. (SNA: chart) shares rose more than 14.5% after the toolmaker posted a 76% rise in quarterly profit on increased tool sales. First-quarter net profit was $39 million, or 66 cents a share, up from $22.1 million, or 37 cents a share, a year earlier. Net sales rose almost 20% from last year to $709.7 million, above the $686.6 million analysts had expected.

Everest Re Group Ltd. (RE: chart), the reinsurance company, said its first-quarter net income surged, thanks to favorable underwriting year trends, coupled with the lack of big losses. Everest earned $297.6 million, or $4.59 per share, up 77% from $168.4 million, or $2.57 per share, during the same period a year ago. Operating income, which excludes realized capital gains and losses, was $267.9 million, or $4.13 per share, up 70% from $157.9 million, or $2.41 per share. Shares climbed 6.55%.

Energizer Holdings Inc. (ENR: chart), maker of batteries and Schick razors, shares rose 6.8% after the company said that its second-quarter earnings rose sharply as pricing and market share withstood cost pressures. Net income jumped to $66.6 million, or $1.14 per share, from $50 million, or 78 cents per share, a year ago. The latest quarter included a restructuring charge of $3 million, or 5 cents per share. Sales added 16% to $730.9 million from $629.5 million last year and surpassed Street expectations for $673 million.

International Business Machines Corp. (IBM: chart) said it will raise its quarterly dividend by a third and its stock buyback program by $15 billion. Shares of the company climbed 5%. As a result of the higher share buyback, 2007 earnings per share growth excluding any gain from the recently announced sale of its printer business could be 12% to 14%, which is one to three points more than its previous estimates, IBM said.

McGraw-Hill Cos. (MHP: chart), owner of BusinessWeek magazine and the Standard & Poor''s ratings and index business, said that first-quarter profit nearly doubled on strong results in its financial services and education segments. Net income leaped to $143.8 million, or 40 cents per share, compared with $74.2 million, or 20 cents per share, in the previous year. Revenue for the quarter rose 14% to $1.3 billion from $1.14 billion a year ago. Shares climbed 4.40%.

Chicago Mercantile Exchange Holdings Inc. (CME: chart) said that its first-quarter earnings rose 42% on sharply higher volume. For the quarter profit rose to $130 million, or $3.69 per share, compared with $91.4 million, or $2.61 per share, a year ago. Revenue climbed 32% to $332.3 million from $251.7 million in the prior-year period, driven by a jump in clearing and transaction fees to $258.2 million and processing services to $34.8 million. Shares fell 2.12%.

ResMed Inc. (RMD: chart) shares sank 10.27% on lower-than-expected fiscal third-quarter results and the recall of about 300,000 sleep apnea devices because of short-circuits problems. The company said that it fell to a loss of $15.4 million, or 20 cents per share, from a year-earlier profit of $26.3 million, or 34 cents per share. Revenue rose 13% to $183 million versus $162.3 million last year.

II-VI Inc. (IIVI: chart) shares dropped 22.76% after the maker of optical and electronic instruments gave an outlook for the fourth quarter below analysts'' estimates and cut its full-year revenue view. The company forecasted fourth quarter earnings of 30 cents to 33 cents on revenue of $67.5 million to $69.5 million, which is below analysts'' estimates. The company said it now sees fiscal year 2007 earnings of $1.19 to $1.22 a share on revenue of $259 million to $261 million. It earlier forecast earnings of $1.15 to $1.22 a share on revenue of $263 million to $266 million for fiscal year 2007.

Universal Stainless & Alloy Products Inc. (USAP: chart) said that its first-quarter profit jumped 70%, aided by strong aerospace sales and a lower income tax rate. Quarterly earnings rose to $6.8 million, or $1 per share, from $4 million, or 61 cents per share, in the prior-year period. Sales grew to $56.2 million against $44.9 million in the same period a year earlier. In January, the company projected first-quarter earnings per share of 82 cents to 87 cents on sales of $52 million to $57 million. Shares fell 6.08%.