Financial Markets

By Poornima Gupta SAN FRANCISCO (Reuters) - Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent, Wall Street had braced for worse. HP shares gained 14 percent after the company projected full-year earnings per share of $3.50 to $3.60, raising the lower end by 10 cents, and fiscal third-quarter profit that topped analyst estimates. ...

SAN FRANCISCO (AP) — Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices.

By Angela Moon NEW YORK (Reuters) - Stocks fell on Wednesday with the S&P 500 posting its biggest decline in three weeks, after minutes from the latest U.S. Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. Trading was volatile - the Dow and the S&P indexes both rose more than 1 percent during the morning, but fell more than 1 percent in the afternoon. ...

By Ryan Vlastelica NEW YORK (Reuters) - Stocks, bonds and currencies took a wild ride on Wednesday after Federal Reserve Chairman Ben Bernanke said the U.S. central bank's massive bond-buying program would remain in place for now, even as the Fed considers cutting back stimulus in coming months. Wall Street stocks jumped as much as 1 percent before turning lower after Bernanke, in testimony to Congress, said that if economic improvement continued, "We could in the next few meetings take a step down in our pace of purchases. ...

By Jessica Wohl (Reuters) - Target Corp cut its full-year profit forecast on Wednesday while turning in a weak first quarter with disappointing sales, as a chilly start to spring kept shoppers from buying seasonal items like clothing. Target warned in April its first-quarter results would be weaker than anticipated, and its performance was even worse than revised Wall Street expectations due to the cool weather and the impact of higher payroll taxes on spending. Shares of Target fell 3.6 percent to $68.70. First-quarter sales at stores open at least a year fell 0. ...

By Dmitry Zhdannikov and Claire Milhench LONDON (Reuters) - Europe's energy price manipulation probe has turned regulatory attention to secretive trading units at oil companies with huge turnover and millionaire staff with risk appetite higher than at Wall Street's biggest banks. Regulators have scrutinised banks, trading houses and commodities markets more closely following the Libor benchmark rigging scandal but trading desks at oil majors have largely escaped attention. ...

By Mridhula Raghavan (Reuters) - Luxury homebuilder Toll Brothers Inc reported stronger-than-expected results on higher average selling prices and booked its highest quarterly orders in seven years, sending its shares up 7 percent. Record-low interest rates and rising rents have encouraged more Americans to buy homes after the housing market bust, but concerns over rising costs for land, building materials and labor have dented builders' enthusiasm in the last few months. Toll missed Wall Street expectations last quarter as costs, including high lumber prices, hurt profits. ...

By Masayuki Kitano and Vidya Ranganathan SINGAPORE (Reuters) - Some Asian stock markets rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a 5-1/2 year high and staying firm as the Bank of Japan stood pat after unleashing massive stimulus last month. European stocks are expected to inch lower with markets taking a breather from a month-long rally before U.S. Federal Reserve Chairman Ben Bernanke's testimony to Congress. Financial spreadbetters expect Britain's FTSE 100 to open down 0.16 percent, Germany's DAX to open 0. ...

NEW YORK (AP) — Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.

Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. Its quarterly results topped Wall Street expectations, and the world's ...

By Angela Moon NEW YORK (Reuters) - Stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could start reducing its stimulus program. Dow component Home Depot gave the market a lift after the world's largest home improvement chain raised its profit outlook, driving its stock to a record intraday high. JPMorgan also bolstered the Dow, rising more than 1 percent to a 52-week high after the bank's chief executive won a vote of confidence from shareholders. ...

(Reuters) - Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei reported. Sony's U.S. listed shares rose 9 percent on Tuesday on the New York Stock Exchange. Billionaire hedge fund investor Daniel Loeb last week called on the company to spin off its lucrative entertainment arm, setting the stage for a clash between his activist Wall Street fund and management at the Japanese electronics maker. Sony declined to comment when contacted by Reuters. ...

NEW YORK (AP) — Stocks are closing higher on Wall Street as investors bank on continued support from the Federal Reserve.

By Suzanne Barlyn WASHINGTON (Reuters) - Wall Street's watchdog will present a plan to its board in July that would require brokers to tell certain clients about compensation they receive when they switch firms, the regulator's chief said on Tuesday. Richard Ketchum, the Financial Industry Regulatory Authority's chairman and chief executive, said he and his staff will review numerous letters about the proposal from industry and investor advocacy groups before the July meeting. Ketchum made the remarks during a briefing for reporters at FINRA's annual conference in Washington. ...

By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world edged higher on Tuesday amid signs of improving growth, even as uncertainties concerning monetary policy limited gains. The Dow and S&P 500 were at all-time highs while the dollar rose and gold fell. The euro was slightly higher, though a slowdown in British inflation sent sterling to a 7-week low on the view it could give the Bank of England more leeway to support the economy. The yen lost ground after a Japanese minister rowed back on remarks suggesting the currency had weakened enough. ...

The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter. The ...

NEW YORK (AP) — Stock indexes are edging higher in midday trading on Wall Street as investors look ahead to the Federal Reserve's next moves.

By Neil Maidment LONDON (Reuters) - Royal Mail more than doubled annual profit on the back of an online shopping boom, providing a timely boost as it plans for a stock market listing this year. In a marked turnaround for a business that has been fighting to adapt to a more competitive market and falling letter volumes, Royal Mail reported adjusted operating profit of 403 million pounds in the year to March 31, against 152 million pounds a year earlier. ...