Good Morning!

Wachovia Swing to a Loss... Blockbuster Makes $1B Offer for Circuit City... Philips Profit Falls 75%... Delta and Northwest Plan to Merge... Retail Sales Rise Unexpectedly.

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

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TradingMarkets 5 Business Stories You Need to Know

GE's Results Pull Plug on Wall Street - Wall Street Journal
GE's profit fell 5.8%, below expectations, hurt by weakness in businesses such as health care and consumer products. GE shares tumbled 13% on Friday.

Wachovia Posts Loss, Plans $7 Billion Capital Raising - Bloomberg
Wachovia reported an unexpected loss because of subprime- infected mortgage holdings, cut its dividend and said it will raise about $7 billion in a share sale to replenish capital.

Blockbuster Discloses $1 Billion Offer For Circuit City - CNN Money
Shares of Circuit City Stores surged in pre-market trading as movie- rental chain Blockbuster made public a $1 billion-plus takeover offer it made to the struggling consumer-electronics retailer two months ago.

Behind Air Chaos, an F.A.A. Pendulum Swing - New York Times
A current safety crackdown is a shift away from what critics say was the agency’s coddling of the airlines.

Bailing Out of Bear - BusinessWeek
Star broker Douglas Sharon's story paints a vivid picture of the desperate last days of Bear Stearns.

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:

• General Electric (GE | Quote | Chart | News | PowerRating) plunged nearly 13%, the most since the '87 crash, after the company reported earnings that missed estimates by $0.07 per share. The news was particularly disappointing because the company announced in January that it expected to report earnings in-line with estimates.
  
  
• Shares of AMR Corp (AMR | Quote | Chart | News | PowerRating) dropped after American Airlines was forced to cancel hundreds more flights on Friday. The total number of flights cancelled by American Airlines so far this week rose above 2,600.
  
  
• Genentech (DNA | Quote | Chart | News | PowerRating) reported earnings of $0.84 per share, beating the consensus forecast by $0.02.
  
  
• Fastenal (FAST | Quote | Chart | News | PowerRating) rose more than 4% after the company beat estimates by $0.03.
  
  
• Shares of Frontier Airlines (FRNT | Quote | Chart | News | PowerRating) collapsed 69% after the company filed for Chapter 11 bankruptcy protection.
  
  
• Before the market open on Monday, BlackRock (BLK | Quote | Chart | News | PowerRating) is scheduled to report earnings, with analysts looking for $2.05 per share.
  
  
• And, Charles Schwab (SCHW | Quote | Chart | News | PowerRating) is expected to report earnings of $0.26.

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

TradingMarkets 5 PowerRatings Stocks for Today

TradingMarkets Tracking the Wizards

The Big Saturday Interview: Steve Nison, King of Candlesticks - TradingMarkets
When it comes to trading with Japanese candlesticks, the first name that comes to mind is Steve Nison. Nison is widely-recognized as the authority on this method of charting that has truly revolutionized the way that traders have come to look at price charts.

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.

Trading Without Emotion - TradingMarkets
According to Cal Berkeley University research, more than eight out of ten people who trade the stock market on a regular basis lose money.

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