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Vitaliy Katsenelson: Look to the margins when using the price/earnings ratio 2 May 08, 23:10 ET FT.com - I love the price/earnings ratio, but like all investment tools, it is flawed. This is because it is only as good as the numbers that go into it. more Microsoft, Yahoo could reach weekend deal: sources 2 May 08, 23:02 ET Reuters - Microsoft Corp and Yahoo Inc are making last-minute efforts to seal a deal before Microsoft takes its Yahoo bid hostile or abandons it altogether, sources familiar with the matter said on Friday. more Berkshire net income falls 64 percent because of derivatives 2 May 08, 19:55 ET AP - Berkshire Hathaway Inc. said Friday its first-quarter profit fell 64 percent because it recorded an unrealized $1.6 billion pretax loss on its derivative contracts, and its insurance businesses generated lower profits. more Ford to offer union buyouts at two U.S. plants 2 May 08, 19:10 ET Reuters - Ford Motor Co will offer buyouts to United Auto Workers union-represented hourly employees at plants in Chicago and Louisville, Kentucky, to try to trim its ranks, the company said on Friday. more Delta gives 3 percent raises to nonunion employees 2 May 08, 19:05 ET AP - Delta Air Lines announced a 3 percent pay raise for its nonunion employees, effective July 1. more P&G sues J&J over tooth-whitening strip patent 2 May 08, 18:18 ET Reuters - Procter & Gamble Co said on Friday it sued Johnson & Johnson , claiming that J 's Listerine Whitening Quick Dissolving Strips violate P patents. more Toyota recalls 90,000 Highlanders over seat belts 2 May 08, 17:06 ET Reuters - Toyota Motor Corp (7203.T) is recalling 90,000 model year 2008 Highlander and Highlander hybrid sport utility vehicles due to potential problems with securing child safety seats in third row seats. more IBM, Google Will Collaborate on Cloud Computing 2 May 08, 16:50 ET NewsFactor - Google and IBM committed to working more closely on cloud computing Thursday at IBM's Business Partnership Leadership Conference in Los Angeles. The companies said they were extending a joint research project that started last October. more Jobs data lifts blue chips; Nasdaq dips on Sun 2 May 08, 16:49 ET Reuters - Stocks made modest gains on Friday after jobs data that offered fresh evidence the economic slowdown is not as severe as feared, but technology shares faded on a surprise loss from Sun Microsystems Inc . more Pfizer reaches deal with some Celebrex users: report 2 May 08, 16:38 ET Reuters - Pfizer Inc has reached tentative deals with some patients who claim to have suffered heart attacks and strokes from taking the company's Celebrex and Bextra pain medicines, the Wall Street Journal said on Friday, citing plaintiff attorneys. more Pushed by higher prices, immigrants stocking up on rice 2 May 08, 16:28 ET AP - Shoppers surveyed shelves loaded with rice at the Ranch 99 Asian supermarket, chatting in languages from Mandarin to Portuguese as they hunted for their favorite varieties, checked brand names and compared prices before heaving 50-pound bags into their carts. more Countrywide said junk rating would hobble business 2 May 08, 16:08 ET Reuters - Even as it prepares to be acquired by Bank of America Corp , Countrywide Financial Corp's descent to a "junk" credit rating could hinder its ability to make loans and collect deposits, the mortgage company has warned. more Cablevision submits $650 mln bid for Newsday: source 2 May 08, 15:54 ET Reuters - Cablevision Systems Corp has made a $650 million bid for Tribune Co's Newsday newspaper, topping rival offers from media titans Rupert Murdoch and Mortimer Zuckerman, a source briefed on the matter said on Friday. more Fed proposes reforming credit card practices 2 May 08, 15:23 ET Reuters - The Federal Reserve on Friday joined other U.S. banking regulators in backing new limits on certain billing practices by credit card companies. more Time for big oil to explore places it would rather avoid 2 May 08, 15:15 ET FT.com - Big oil was back in the spotlight this week and not just because petrol prices hit £5 a gallon on the forecourts. BP and Royal Dutch Shell both reported first-quarter results that smashed market forecasts and then enjoyed sharp share price gains. more Microsoft, Yahoo talks intensify: source 2 May 08, 15:11 ET Reuters - Microsoft Corp and Yahoo Inc have intensified talks in an effort to reach a friendly agreement on a buyout of Yahoo, a source familiar with the matter said on Friday. more Weyerhaeuser loss widens as housing woes weigh 2 May 08, 14:35 ET Reuters - Weyerhaeuser Co posted a bigger-than-expected first-quarter loss on Friday, as the slump in the U.S. housing market hurt demand for its lumber, plywood and other wood products used in home construction. more Professional payrolls hold clues to job market 2 May 08, 13:35 ET Reuters - An April rebound in professional jobs such as health care and technology has boosted the spirits of staffing executives, although few of them see big job additions anytime soon. more US, European central banks step up credit crisis battle 2 May 08, 13:16 ET AFP - The US Federal Reserve and key European central banks on Friday announced a fresh offensive against a global credit crisis that has gridlocked lending and slowed the world economy. more Job cuts in April less severe than feared 2 May 08, 10:51 ET Reuters - Fewer U.S. jobs were lost in April than economists feared and the unemployment rate unexpectedly improved, raising hopes an economic downturn was not gathering steam as the second quarter opened. more Linens 'n Things files for bankruptcy 2 May 08, 09:59 ET Reuters - Home goods retailer Linens 'n Things has filed for Chapter 11 bankruptcy protection and plans to close 120 underperforming stores, the company said on Friday. more Stocks jump after payroll report, Fed action 2 May 08, 09:58 ET AP - Wall Street extended its advance Friday after a government employment report showed the nation's employers cut far fewer jobs than expected last month, stirring optimism about the buoyancy of the economy. more Chevron earnings up on record oil prices 2 May 08, 09:54 ET Reuters - Chevron Corp , the second-largest U.S. oil company, said on Friday its first-quarter earnings rose 10 percent as record oil prices outweighed weak profits from gasoline production. more Central banks extend liquidity lifeline to markets 2 May 08, 09:45 ET Reuters - Major central banks on Friday announced larger liquidity injections in a bid to wrestle down market interest rates as they extended joint efforts to tackle stubborn tensions on money markets. more Chevron profit rises 9.5 percent in 1Q on higher oil prices 2 May 08, 09:35 ET AP - Chevron reported Friday that profits rose 9 percent in the first quarter as higher oil prices made up for weakness on the refining and chemicals side of its business. more Fed expands liquidity operations to calm markets 2 May 08, 09:27 ET Reuters - The Federal Reserve on Friday announced steps to help ease persistent strains in credit markets, increasing the size of some cash auctions for financial institutions and the amount of U.S. dollars it provides to the European Central Bank and Swiss National Bank. more Oil prices bounce back above $113 in volatile trading 2 May 08, 09:26 ET AP - Oil prices bounced back above $113 a barrel in volatile trading Friday after falling sharply from the early week record near $120 a barrel. more Linens files for Chapter 11, to close 120 stores 2 May 08, 09:18 ET Reuters - Home goods retailer Linens 'n Things on Friday said it filed for Chapter 11 bankruptcy protection and disclosed plans to close 120 underperforming stores. more Fed joins with European banks to battle credit crisis 2 May 08, 09:17 ET AP - The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks. more Linens 'n Things files for bankruptcy protection 2 May 08, 09:16 ET AP - Bedding- and home-furnishing retailer Linens 'n Things on Friday filed for Chapter 11 bankruptcy protection, the latest major retailer to succumb to the difficult consumer environment. more Parmalat reaches settlement in US class-action case 2 May 08, 09:00 ET AP - Italy's dairy group Parmalat SpA said Friday it will issue new stock valued at more than $36 million to settle a class-action case against it in the U.S. Southern District Court of New York. more Government launches crackdown on unfair credit cards 2 May 08, 08:57 ET AP - The Federal Reserve and other regulators are planning tighter rules to stop credit card companies from unfairly raising interest rates and to make sure they give people enough time to pay their bills. more Jobs shed for 4th straight month 2 May 08, 08:34 ET Reuters - Employers cut jobs for a fourth straight month in April, though not as vigorously as feared, according to a government report on Friday that also showed an unexpected improvement in the unemployment rate last month. more MTV owner Viacom reports 33 pct 1Q profit rise 2 May 08, 08:19 ET AP - Entertainment company Viacom Inc. reported a 33 percent rise in first-quarter earnings Friday, lifted by stronger sales of the "Rock Band" video game. more ING buys Citigroup pensions unit for 900 mln dlrs 2 May 08, 08:19 ET AFP - Dutch banking and insurance group ING said Friday it woudl buy pension planner CitiStreet from US banking giant Citigroup and State Street Corp for 578 million euros (900 million dollars). more Strong Summer Rentals for the Hamptons 2 May 08, 08:08 ET BusinessWeek Online - Justin Sparr was worried that, with the economy slipping into recession, he might have to make concessions to find a good tenant for his four-bedroom house with an outdoor hot tub and private dock in the Hamptons, the traditional summer playground for celebrities, tycoons, and elite families. more Safeguard Your Retirement in Hard Times 2 May 08, 08:08 ET BusinessWeek Online - Investment losses, job loss or downsizing, an upward adjustment on your adjustable rate mortgage, and higher prices on everything from gas for your car to rice for the table are only some of the current factors that could derail your financial planning for your golden years. more Navigating the Crunch 2 May 08, 08:08 ET BusinessWeek Online - The student loan industry is in turmoil. Since Jan. 1, more than 60 lenders, or 14% of the market, have announced plans to stop making loans backed by the Federal government. Lenders are also making it harder for families to qualify for private loans, which lack government backing and often bridge the gap between financial aid and the cost of college. With peak season for student loan borrowing about to begin, BusinessWeek's Anne Tergesen spoke with Mark Kantrowitz, publisher of financial aid Web site FinAid. ... more Scoring a Private Loan for College 2 May 08, 08:08 ET BusinessWeek Online - Families often turn to private loans to bridge the gap between the cost of college and the maximum $5,500 a year undergraduates can borrow in federally backed student loans. But the credit crunch means those seeking private loans for the coming academic year are likely to encounter problems, from higher interest rates to lenders that balk at making loans to any but the most creditworthy. "It's more important than ever for families to plan in advance," says Kevin Walker, CEO of Simple Tuition, which runs a Web site that lets borrowers compare offerings from lenders that pay it for placement. more Duke Energy profit up 30 pct in 1Q 2 May 08, 08:06 ET AP - Duke Energy Corp., one of the nation's largest electric power companies, said Friday its first-quarter profit rose 30 percent, boosted by the company's three largest business units. more Duke Energy earnings jump 30 percent 2 May 08, 07:55 ET Reuters - Power company Duke Energy Corp on Friday posted a 30 percent rise in first-quarter profit, beating Wall Street forecasts on gains in its utility and wholesale power businesses. more European stock markets rally 2 May 08, 07:20 ET AFP - Europe's main stock markets rose strongly on Friday after sharp gains by US share prices overnight and as Frankfurt and Paris returned to work after a public holiday, dealers said. more BoA says no assurance on Countrywide debt: filing 2 May 08, 07:17 ET Reuters - Bank of America , which said it would buy Countrywide Financial Corp in January, said there was no assurance any of the mortgage lender's outstanding debt would be redeemed, assumed or guaranteed, according to a regulatory filing. more Economists predict employers will cut jobs again 2 May 08, 06:35 ET AP - The country is bracing for more bad news on the jobs front. In advance of Friday's employment snapshot from the Labor Department, economists were predicting that employers cut jobs yet again in April. That would mark the fourth straight month of job losses. The unemployment rate, now at 5.1 percent, is expected to edge up a notch. more Japan stock index hits 4-month high; Nikkei above 14,000 2 May 08, 06:12 ET AP - Japanese shares rose Friday as sentiment turned upbeat following strong gains on Wall Street and better-than-expected U.S. consumption data. more Pfizer invests $300 mln in Irish biotech facility 2 May 08, 05:37 ET Reuters - Pfizer Inc , the world's biggest drugmaker, is to invest 190 million euros ($297 million) establishing a new biotech plant in Ireland for the production of experimental medicines, it said on Friday. more Conn AG credit probe covers Berkshire Hathaway: report 2 May 08, 05:28 ET Reuters - Billionaire investor Warren Buffett's Berkshire Hathaway (BRKa.N) is being examined as part of the Connecticut Attorney General's probe into conflicts of interest in the credit rating industry, the Financial Times reported on Friday. more Aloha cargo service gets green light to fly again 2 May 08, 03:07 ET AP - Aloha Airlines was cleared to resume cargo operations Thursday night under an agreement approved by a bankruptcy court judge. more Sony PSP outsells Nintendo DS 2-to-1 in Japan in April 2 May 08, 02:42 ET Reuters - Sony Corp's (6758.T) PlayStation Portable (PSP) handheld game gear outsold Nintendo Co Ltd's (7974.OS) DS portable player more than 2-to-1 in Japan in April, game magazine publisher Enterbrain said. more Ore. court rejects medical costs claim on tobacco industry 2 May 08, 01:24 ET AP - The same Oregon court that slapped Big Tobacco with a huge punitive damages award has handed the industry a victory by rejecting a class-action lawsuit for medical monitoring costs in a case where harm had yet to occur. more Thailand pitches cartel of rice-producing nations 2 May 08, 01:13 ET AP - Thailand, the world's biggest rice exporter, said Friday that it wants to form an OPEC-style cartel with four of its Southeast Asian neighbors so they have has more control over rice prices, which have tripled this year. more Microsoft poised to detail next moves on Yahoo: CEO 2 May 08, 01:05 ET Reuters - Microsoft Corp Chief Executive Steve Ballmer said on Thursday that walking away from a deal with Yahoo remained one of "three big options" the company is weighing and to expect an announcement shortly. more

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