Good Morning!

Yahoo!, AOL, News Corp. Close to Deal... Takeda Buys Millennium Pharmaceuticals for $8.8B... Wal-Mart Raises Forecast... Sales Fall at Target... BoE Cuts Rate, ECB Unchanged... Weekly New Unemployment Claims Decline.

Asian stocks mixed... European stocks down... Dollar falls... And the futures are indicating a lower open.

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TradingMarkets 5 Business Stories You Need to Know

News Corp., AOL Pursue Yahoo Deals - Wall Street Journal
Yahoo and AOL are closing in on a deal to combine their Internet operations, a move aimed at thwarting Microsoft's effort to acquire Yahoo.

Wal-Mart Raises Profit Forecast on March Sales Gain - Bloomberg
Wal-Mart Stores said March sales rose 0.7 percent and increased its forecast for first-quarter earnings as price cuts spurred purchases of groceries, medicines and consumer electronics.

Takeda to Pay $8.8 Billion for Millennium - MarketWatch
Japan's Takeda Pharmaceutical is going to pay $8.8 billion to buy biotechnology group Millennium Pharmaceuticals in an effort to expand its presence in the global oncology market.

BoE Cuts Rates to 5% - Reuters
The Bank of England cut interest rates by a quarter percentage point on Thursday for the third time in five months in an attempt to cushion the economy from the global credit squeeze.

Turbulence Looms for Summer Travelers - CNN Money
About 2,200 U.S. commercial flights have been scrapped since March in response to failed FAA inspections.

For more stories as they happen, go to our Breaking News section.

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

• The Wall Street Journal reported Yahoo! (YHOO | Quote | Chart | News | PowerRating) and AOL are near a deal to combine their Internet operations.
  
  
• Boeing (BA | Quote | Chart | News | PowerRating) announced delivery of its 787 Dreamliner will be delayed by another six months, putting it now 15 months behind schedule.
  
  
• AMR Corp's (AMR | Quote | Chart | News | PowerRating) American Airlines cancelled 1,00 flights after a Federal Aviation Administration inspection.
  
  
• Shares of United Parcel Service (UPS | Quote | Chart | News | PowerRating) fell after the company warned it would miss first quarter earnings estimates.
  
  
• Citigroup (C | Quote | Chart | News | PowerRating) is selling nearly $12 billion in leveraged loans in an attempt to strengthen its balance sheet.
  
  
• Circuit City (CC | Quote | Chart | News | PowerRating) reported earnings of $0.10 per share, $0.17 better than expected.
  
  
• After the market close, Bed Bath & Beyond (BBBY | Quote | Chart | News | PowerRating) reported earnings of $0.66 per share, beating estimates by $0.01.
  

For a list of today's highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

TradingMarkets Tracking the Wizards

Learn How to Apply MACD to Your Trading - Part II - TradingMarkets
Gerald Appel, the inventor of MACD, and Marvin Appel teach you how to use the popular indicator in your daily trading.

Free Report! 5 Secrets to Short Term Stock Trading Success - TradingMarkets
There are times when the markets are so exuberant that buying high and selling higher works. But there is only one edge that has stood the test of time when it comes to short-term trading: buying weakness and selling strength.

Enhance Your Covered LEAPS Strategy with Options Delta - TradingMarkets
With option expiration two weeks away on the third Friday of the month, which I now call "pay day", I monitor closely all Covered calls and Covered LEAPS positions that are likely to be called out for a positive called return.

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