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Wednesday April 20, 2011
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BUSINESS & FINANCE

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    IBM and Intel reported a surprising surge in sales and profits for the first quarter and signaled brighter days ahead. Both saw a big increase in spending from businesses, especially on servers and machines used in corporate data centers.

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    Goldman beat earnings estimates, but its shares dropped on concerns that the firm will have trouble posting profits on par with those of the past.

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    Nasdaq OMX ratcheted up the pressure on NYSE Euro-next by sweetening its takeover offer, but the Big Board's parent remains skeptical.

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    Taylor Bean's ex-chairman, Lee Farkas, was found guilty of fraud in one of the first big criminal convictions stemming from the mortgage bust.

WORLD-WIDE

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    Obama and Geithner were upbeat about the budget. Their statements were aimed at tamping down concern over a credit-rating report that questioned the country's fiscal health. The president expressed confidence that lawmakers will strike a deal to reduce the deficit. The Treasury secretary said there was no risk the government would lose its top-notch bond rating.

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    The U.S. government is within weeks of hitting its $14.294 trillion borrowing limit, and Geithner has urged lawmakers to raise it as soon as possible.

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    A White House jet carrying Michelle Obama flew closer than permitted to an Air Force cargo plane because of an air-traffic control slip-up and had to abandon its approach to land.

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    Japanese workers began removing highly radioactive water from one of the reactors at the Fukushima Daiichi nuclear complex.

U.S. NEWS

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FOOTNOTES

This index is compiled from the late edition of The Wall Street Journal distributed to East Coast readers. Images of section fronts are available after 5 a.m. ET on the day of publication.

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