Morning News Summary for May 10, 2011

U.S. stock index futures are pointing to a higher open this morning after Chinese trade data came in near the strong end of the expected range and investors became increasingly optimistic on the economic recovery. It looks like Microsoft MSFT is nearing the biggest buyout in their 36-year long history. The price tag for the popular Internet telephone service, Skype, is valued at about $8.5 billion. This strategic move would give Microsoft a bigger presence on the Internet and a leg up in the smart phone market. A report on Toyota Motor TM stated that output could be back to normal two to three months earlier than expected. This helped edge up the Nikkei as Asian markets were mixed. Higher margins on oil and a firmer dollar pushed the commodities' futures lower by about 1%. Several companies report earnings again today with Walt Disney DIS, Wendy's/Arby's Group WEN and ATP Oil and Gas ATPG leading the way. Coca-Cola Hellenic CCH, the world's second largest bottle of Coca-Cola (KO), posted an unexpected first-quarter loss due to higher input costs and tough comparative figures. Dollar Thrifty Automotive DTG rose 11.9 percent after Hertz Global HTZ increased their bid to more then $2.2 billion. Competitor Avis Budget CAR is still in the hunt for the smaller car rental company as well. The euro lost some ground as rumors continue to fly about the economic state of Greece. A report, that was later denied, alleged that indebted Greece could agree to a bailout within the next month that would help them with their funding issues for about two years.