Express Scripts Inc. (ESRX: chart) shares climbed 9.37% after the pharmacy benefit manger reported a 49% jump in first-quarter profit. The company said it earnings $133.7 million, or 97 cents per share, for the quarter ended March 31. Revenue increased 3%, to $4.54 billion. The company raised its earnings outlook to a range of $4.29 to $4.41 per share.

Woodward Governor Co. (WGOV: chart), aerospace manufacturer, shares jumped 18% after the company said its fiscal second-quarter profit nearly doubled, and raised its full-year profit outlook. The company said its net income for the quarter rose to $22 million, or 63 cents per share, from $11.5 million or 32 cents per share, in the same period last year. Revenue grew 23%, to $256.3 million versus $208.9 million a year ago.

Transcend Services Inc. (TRCR: chart) shares surged 31.58% after the provider of transcription and editing services said that its first-quarter net income increased to $1.3 million, or 15 cents per share, compared with $150,000, or 2 cents per share, in the year-ago period. Revenue climbed to $10.4 million versus $8.01 million in the comparabel period last year.

Paccar Inc. (PCAR: chart) shares climbed 10.09% after the company, which makes and markets commercial trucks and parts, said its first-quarter profit rose 7%, as international sales growth offset weak demand for newly mandated, lower-emission engines in the U.S. and Canada. Quarterly earnings increased to $365.6 million, or $1.46 per share, from $342 million, or $1.35 per share a year ago. Results for the most recent quarter included a gain of $21.7 million, or about 9 cents per share based, from the sale of property. Excluding the item, Paccar earned $1.37 per share in the quarter. Revenue grew 2% to $3.72 billion from $3.54 billion last year.

Symbion Inc. (SMBI: chart), which owns and operates short-stay surgical facilities, said it has agreed to be acquired by New York-based private equity firm Crestview Partners LP for about $488 million. The transaction is valued at about $637 million, including the assumption of debt. Symbion reported about 21.7 million shares outstanding at the close of 2006, bringing the stock portion of the deal to $485.7 million.

Synalloy Corp. (SYNL: chart) producer of specialty chemicals, stainless steel pipe and other products, said Friday its first-quarter profit more than quintupled, as higher metals prices offset a decline in chemical sales. Quarterly earnings jumped to $3.5 million, or 56 cents per share, from $698,000, or 11 cents per share, in the prior-year period. Sales rose to $44.4 million from $36.2 million last year.

[R]1:00AM NY, 5:00 PM Frankfurt European stocks closed down, dragged by weak Spanish construction stocks and U.S. data.[/R]
European stock markets finished in the negative on Tuesday, dragged down by sharp declines in Spanish construction stocks and weaker-than-expected U.S. consumer confidence and housing data. In Spain, shares of Sacyr Vallehermo slipped 7.8%, Acciona dropped 5%, Fomento Construction lost 6.8% and ACS fell 4.4%. The weakness among construction stocks was caused spillover from the real-estate sector which was pressured by property developer Astroc Mediterrano, down 10%.

Among other companies in focus, Alcatel-Lucent erased early losses to close up 3.4% after the company issued a positive sales forecast. The tech sector was also supported by 2.2% in shares of French-Italian chipmaker STMicroelectronics. Chemicals were the other sector trading in the green on Tuesday, boosted by well-received results from Akzo-Nobel. Company’s shares rose 3.2% after it said that its Q1 operating performance had been strong. Of peers, shares in Imperial Chemical Industries rose 0.6% and Air Liquide rose 0.8%. Among European benchmark indexes, the U.K.''s FTSE 100 slid 0.8% at 6,429.50, the German DAX 30 dropped 0.9% at 7,270.32 and the French CAC-40 lost 0.5% at 5,886.03.



[R]9:45AM U.S. markets opened higher, boosted by earnings reports.[/R]
Wall Street advanced at opening on Tuesday, with the Dow Jones moving towards the 13,000 level, on well-received earnings outlook from chip giant Texas Instruments (TXN: chart) which surged 8.5%. IBM (IBM: chart) was the biggest gainer among blue chips, rising 3% after the company raised its quarterly dividend and increased its stock buyback plan by $15 billion. DuPont (DD: chart) also supported the blue-chip average, rising 1.5% after its earnings topped expectations.

Among other earnings-related movers, Amgen (AMGN: chart) lost 0.4% after it posted Q1 profit rise to 94 cents a share, compared with 82 cents per share a year ago but lowered its annual earnings forecast. Whirlpool (WHR: chart) reported a lower but better-than-expected Q1 profit as strong international appliance sales offset declining U.S. demand. Net earnings came to $1.46 a share, down from $1.70 a share a year earlier. Company''s stock climbed 8.4%.

The market sentiment dampened after the National Association of Realtors reported sales of existing homes in March had their biggest one-month decline since January 1989. In another report, the Conference Board said consumer confidence fell more than expected in April due to higher gas prices and broader economic concerns. In the first hour of trading, the Dow Jones industrial average rose 15.03, or 0.12%, to 12,934.43. The Standard & Poor''s 500 index was down 0.56, or 0.04%, at 1,480.37, and the Nasdaq composite index rose 0.76, or 0.03 %to 2,524.43. Bonds were mostly unchanged, with the yield on the benchmark 10-year Treasury note falling to 4.64% from 4.65% late Monday.


[R]9;30AM London trades lower on Tuesday on concern over Spanish real estate sector.[/R]
The UK benchmark index was lower on Tuesday. By mid-day trading, the FTSE 100 lost 51.2 points to 6,428.5.

Advancers

Aviva, owner of Norwich Union, gained 1.7 per cent after it posted record first-quarter sales of 9.2 billion pounds, up 18 per cent. Sales in the UK grew 9 per cent. The company said its US operations were its “star performer” in the period, with pro forma sales growth of 67 per cent.

Whitbread added 0.8 per cent as it reported a 24 per cent increase in interim profit of 213 million pounds, fueled by strong growth at its Costa Coffee retail chain and Premier Travel Inn hotels. In the mid-caps, Greene King added 2.1 per cent on talk that it could split its real estate and pub assets.

Decliners

Concerns over Spanish real estate company Astroc darkened sentiment towards UK real estate stocks, with Hammerson down 1.7 per cent and housebuilder Persimmon 2.9 per cent lower.