5:30PM NY – Earnings releases after the market close in NY.

Knight Transportation (KNI: chart) reported revenue rise of 11.7% to $166.5 million and net income growth of 5% to $16.6 million. Earnings per share rose 19 cents from 18 cents a year ago.

Money Gram International (MGI: chart) revenue in the first quarter rose 17.6% but net income in the quarter fell 2.8%. The company reported earnings per share of 35 cents vs. 36 cents a year ago.

Alliance Data Systems (ADS: chart) revenue in the first quarter rose 15% to $549 million and net income gained 1% to $56.9 million. The earnings per share was reported at 70 cents vs. 69 cents a year ago.

Arena Pharmaceuticals (ARNA: chart) reported first quarter revenue of $4.9 million compared to $12.1 million a year ago. The net loss increased to $32.7 million from $12.4 million a year ago.

Illinois Tool Works (ITW: chart) revenue in the first quarter rose 14% to $3.76 billion and earnings gained 10% to 70 cents per share or $568 million.

Spansion (SPSN: chart), semiconductor maker, reported first quarter revenue of $628 million or 12% from a year ago and 8.7% from the previous quarter. The company reported net loss of $75 million or 56 cents per share compared to 40 cents loss a year ago.


E*Trade Financial (ETFC: chart) reported first quarter earnings of 39 cents vs. 33 cents a year ago. The revenue in the quarter was reported at $645 million compared to $598.3 million a year ago. The company lowered the annual earnings guidance between $1.55 and $1.75 per share.


Kraft Foods (KF: chart) first quarter revenue rose 5.7% to $8.6 billion but diluted earnings per share declined to 30% to 43 cents from a year ago. The company expects the fully diluted annual earnings per share to rise between 3% and 4% to a range of $1.50 and $1.55.

All State (ALL: chart), insurance company reported first quarter revenue growth of 3% to $9.33 billion and earnings rise of 5% to $1.49 billion or $2.39 per share. Auto premium revenue gained 2.5% but homeowners property premium declined 5.8%.

Novellus Systems (NVLS: chart) reported first quarter revenue of $397 million, down 9.5%. Net income in the quarter was $53.8 million or 42 cents per share, up 26% from a year ago.

Netflix (NFLX: chart) reported first quarter earnings of $9.9 million or 14 cents, double from a year ago. The revenue in the quarter was recorded at $305 million an increase of 36%. The company now forecasts total subscriber base between $7.3 million and 7.8 million, down from earlier forecast of 8 million to 8.4 million. The stock declined 12%.

eBay (EBAY: chart) reported first quarter revenue rose 27% and earnings increased 52%. The company reported revenue of $1.77 billion from $1.39 billion and earnings of $377 million or 27 cents per share compared to $248 million or 17 cents per share. The company lifted annual earnings guidance to $1.30/$1.34 from $1.27/$1.34 per share.


4:30PM NY; 11:30PM Frankfurt; 2:00AM Mumbai - GLOBAL MARKETS

Financial stocks led a mild advance in New York trading. Oil and gold are increasingly becoming focus of traders. Ebay reported 52% rise in earnings after the close. Volkswagen profit doubled on higher auto prices. Japan Tobacco finalized its purchase of Galllaher Group in the U.K. Essar Global based in India is to purchase its second steel company in less than a week in North America.


Yield on 10-year bond closed at 4.652% and the 30-year bond closed at 4.814%.