4:15PM NY; 10:00PM Frankfurt; 2:00AM Mumbai - GLOBAL MARKETS

Averages in New York closed higher boosted by rising profit from Google, American Express, Caterpillar and others. European markets closed higher on merger talks in the banking sector and a deal to sell Alliance Boots for $21.3 billion. Asian stocks rebounded led by a rise in Tokyo and Shanghai. China Citic Bank completed its $5.4 billion IPO in preparation of listing in Shanghai and Hong Kong. Outsourcing company based in India, Wipro reported earnings rise of 39%.


Yield on 10-year bond closed at 4.674% and the 30-year bond closed at 4.847%.

Gold lost $7.500 to close at $695.800 a troy ounce, silver increased 22 cents to end at $13.955 a troy ounce and copper declined $166.000 to close at $7856.000 per metric ton.

Oil gained $1.550 to close at $63.380 a barrel and heating oil advanced 2.670 cents to finish at 183.250 cents a gallon. Natural gas decreased 0.134 cents to close at $7.358 per MMBtu. Gasoline went up 4.630 cents to end at 213.510 cents a gallon.

Asian markets closed higher on concerns that economic overheating in China could lead to additional interest-rate increases. The advancers were led by Indonesia with an increase of 2.63%, Singapore with an advance of 2.11% and India with a gain of 2.04%. There were no decliners. Australia gained 0.63%.

European markets finished higher as banks got a boost from more merger speculation, a bidding war loomed for pharmacy chain Alliance Boots, and technology group SAP reported stronger net income. The advancers were led by France with an increase of 1.88%, Belgium with an advance of 1.77% and Spain with a gain of 1.75%. There were no decliners.

Latin America markets finished higher. The advancers were led by Brazil with an increase of 1.18%, Mexico with an advance of 0.82% and Argentina with a gain of 0.71%. There were no decliners. Canada gained 0.47% on the back of gains in the telecom services sector.

2:30PM NY, U.S. Market Movers

Deerfield Triac Capital Corp. (DFR: chart) said it has agreed to acquire Deerfield & Co. from Triarc Cos. and others for about $290 million in cash and stock. The consideration includes $145 million in Deerfield Triarc stock, or 9.6 million shares, plus $145 million in cash. In a separate statement, Triarc valued the deal at $300 million, including the distribution of about $4.6 million in Deerfield Triarc stock and $4 million in cash distributions. Shares climbed 13.2%.

Genesco Inc. (GCO: chart) is considering a $1.2 billion cash takeover offer from Foot Locker Inc. The proposal came in a letter that Matthew Serra, Foot Locker''s chairman and chief executive, sent on April 4 to Hal Pennington, chairman, president and CEO of Genesco. Shares climbed 14.1%.

Hub Group Inc. (HUBG: chart), transportation logistics provider, shares rose 16.9% after the company said that its first-quarter earnings raced past Wall Street''s expectations. Hub Group said that its first-quarter profit increased 25% to $11.4 million, or 29 cents per share, compared with $9.1 million, or 22 cents per share, a year ago. Transportation-management company''s revenue increased 10% to $393.3 million.

Intuitive Surgical Inc. (ISRG: chart) shares climbed 8.6% after the company said that its first-quarter profit rose 65% to $23.8 million, or 62 cents per share, helped by recurring revenue growth and sales of its da Vinci Surgical System. Revenue climbed 48% to $114.2 million.

NVR Inc. (NVR: chart) shares climbed 10% after the company reported first-quarter earnings of $84.8 million, or $12.96 per share, down from a year-ago profit of $132.6 million, or $19.48 per share. Revenue fell 9% to $1.09 billion from $1.2 billion in the same period a year earlier. The company said new orders for homes increased 8% in the quarter to 3,917 units, while mortgage closed loan production totaled $715 million, 3% lower than last year.

Oakley Inc. (OO: chart) shares rose 13.1% after the company said that its first-quarter profit more than tripled as sunglasses and apparel sales grew. Oakley earnings totaled $5.7 million, or 8 cents per share, compared with $1.9 million, or 3 cents per share. Results for the 2007 quarter included 1 cent per share from an income tax refund, the company said. Oakley''s quarterly sales grew 31.3% to $199.2 million versus $151.7 in the year-ago period.

Packeteer Inc. (PKTR: chart) shares climbed 9% after the company swung to first-quarter loss of 17 cents per share from a year-earlier profit of 13 cents per share. Excluding stock-based compensation and other items, the company loss was 9 cents compared with earnings 20 cents. Revenue climbed 7.4% to $34.7 million.

Sonoco Products Co. (SON: chart) shares jumped 8.9% after the company said that its first-quarter net income increased to $53.1 million, or 52 cents per share, compared with $45.1 million, or 44 cents per share, a year earlier. Excluding items, earnings were 57 cents a share for the quarter. Sales rose 17% to $955.7 million versus $818.8 million a year ago. Sonoco expects second-quarter base earnings of 55 to 58 cents per share for the quarter.

Capital Bancorp (CBC: chart) shares dropped 17.6% after the company said its first-quarter net income declined to $6.27 million, or 36 cents per share, compared with $9.95 million, or 61 cents per share, a year ago. Net interest income rose to $44.68 million, from $41.35 million a year ago.

Capital One Financial Corp. (COF: chart) shares fell 6% after the company said that its first-quarter profit fell 24% to $675.1 million, or $1.62 a share, hampered by a 23% decline in its national-lending segment and higher expenses.