Monday Morning Coffee with TradingMarkets

Good Morning!

Microsoft Walks Away From Yahoo Deal ... Yahoo Tumbles, Google Rallies in Premarket ... UBS Warns of Massive Write-Downs, Job Cuts ... Greenspan: U.S. in "Pale Recession", Could Last All Year ... Fannie Mae, Freddie Mac Report Third Straight Loss ... Deutsche Telekom Considers Sprint Buyout ....

Asian stocks up ... European shares down ... The dollar is moving higher against the Pound, flat against the Yen ... And the futures are trending lower in the hour before the bell.

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TradingMarkets 5 Business Stories You Need to Know

Microsoft Walks From Yahoo Deal - New York Times
Ballmer sweetens bid, but Yahoo refuses to budge. The result? Microsoft says the deal is dead. So what does that mean for the company's plan to take on Google?

UBS Considers Job Cuts on $10 Bn Q1 Loss - Bloomberg
8,000 jobs at risk as UBS faces what are being described as the biggest financial write-downs of any bank in Europe.

Will the Australian Bank Keep Rates Steady? - Bloomberg
High rates have helped make the Australian dollar a big gainers versus the dollar, as traders of the AUD/USD currency pair know well.

Q1 Earnings: So Far, So Good - Wall Street Journal
With first quarter earnings season more than halfway over, analysts and traders are feeling increasingly optimistic at the number of positive earnings surprises.

Barrons: An Opportunity in General Dynamics? - Barrons
General Dynamics has a mediocre Short Term PowerRating and an average Long Term PowerRating.  Yet the stock has caught the eye of the writers at Barron's this weekend.  Find out why.

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:

• Sun Microsystems (JAVA | Quote | Chart | News | PowerRating) suffered its biggest loss in years on Friday after disappointing analysts with a loss when earnings gains were expected.
  
  
• The biggest gainer of the day in the Dow on Friday was Alcoa (AA | Quote | Chart | News | PowerRating), which benefited from an analysts' report that China soon would become a net importer of aluminum.
  
  
• Warren Buffett's Berkshire Hathaway (BRKA | Quote | Chart | News | PowerRating) holds its annual meeting this weekend in Omaha.  Earnings announced after the close on Friday were less than expected.
  
  
• Another good day for Big Oil on Friday, as Chevron (CVX | Quote | Chart | News | PowerRating) announced first quarter profits that were up almost 10%.
  
  
• Sales and earnings that topped analysts estimates were not enough to keep shares of QLogic (MSFT | Quote | Chart | News | PowerRating) announced that it was unable to reach an accommodation with Yahoo! (YHOO | Quote | Chart | News | PowerRating) over the weekend and would be withdrawing its bid for the company.
  
  
• And finally, Nortel (NT | Quote | Chart | News | PowerRating) reported a worse than expected loss of $0.28 per share. Analysts had been expected $-0.13 EPS.
  

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

TradingMarkets 5 PowerRatings Stocks for Today

TradingMarkets Tracking the Wizards

Swing Trading College Session 2 Tomorrow - TradingMarkets
Swing trading is one of the more popular short-term trading methods for stocks traders.  In Session 2, TradingMarkets co-founder and CEO Larry Connors will introduce some of the innovative swing trading methods that have produced more than 70% winning trades since 1995 in simulated, model-driven testing.

Gaps and the E-mini Trader - TradingMarkets
Austin Passamonte takes a look at how to understand and take advantage of that most common of technical developments, the gap, when trading the E-mini index futures.

Yahoo: Up or Down? - TradingMarkets
Do you think that Yahoo will close up or down on Tuesday?  Play TradingMarkets Up or Down Daily Stock Contest and you could win over $12,000 in cash prizes for predicting the direction of a stock!