Morning News

• Futures are pointing to a flat to slightly higher open this morning.

• First quarter GDP data to be released today.

• Initial jobless claims will be released at 8:30 this morning.

• Existing home sales also due to be released this morning.

• Vonage debut worst since 2004. The stock closed on the day down nearly 13% from its opening price.

• Home Depot Inc. to hold its annual meeting today. In focus will be the CEO pay package.

• CBS Corp. and Howard Stern reportedly reach a settlement in a breach of contract lawsuit.

• MasterCard IPO comes in slightly lower than expectations. 61.5 million shares priced at $39.00 each.

• Reports are out that General Motors has reached buyout deals with more than 20,000 U.S. factory workers.

• Regions Financial Corp. reaches $10 billion merger deal with AmSouth Bancorp.

• Wal-Mart upgraded to a buy from neutral at Banc of America Securities.

• Ebay Inc. upgraded to overweight from neutral at Prudential Equity Group.

• Crude Oil is $70.30 per barrel.

• Wholesale gasoline is $2.04 per gallon.
  

• Natural gas just below $6.00 per unit.

• Gold got wacked yesterday current price is $643.00 per ounce.

Budd Foxx