JP Morgan reported earnings this morning that exceeded anyone’s expectations. The giant bank reported 82 cents a share in earnings, compared to only 9 cents a share for the same quarter a year ago. Analysts had been expecting only 52 cents a share from JP Morgan Chase to be reported today.

FedEx Corp.'s first-quarter earnings report released today warned of weak profits through the end of the year as the global economic downturn marches on.

The story published in today's Financial Times breaks the news that the executives at Goldman Sachs sold almost $700m worth of stock following the collapse of Lehman Brothers last September. FT says this information is according to filings with the Securities and Exchange Commission.

Lowe's Home Improvement shareholders defeated the proposals for health care reform principles during their May 29th shareholder meeting.

Optimism on U.S. economy is further rising with the stunning Walgreens pharmacy sales just for April 2009. The same store location Walgreens sales jumped 11.1 percent in April 2009 compared to the same month last year. Are we moving now upward?

This morning Firstbank Corporation reported its 2009 first quarter results of $0.16 per share and said that sharply falling mortgage rates resulted in strong refinance activity which offset some of the losses from the real estate.

Bank of New York, US Bancorp and State Street reported disappointing results, adding further pressure to bank stocks in pre-market trading.

Goldman Sachs reported a $1.8 billion profit for the first quarter, handily beating analysts' estimates. If you pay no attention to the $1.3 billion pre-tax loss that Goldman sustained in the month of December, which it conveniently did not have to include in its first quarter results because of the change in its reporting schedule, Goldman's results were positively spectacular.

Berkshire Hathaway Reports 62% Drop in 2008 Profit: Warren Buffett detailed his worst year leading Berkshire Hathaway, but remains optimistic about the future.

Fannie Mae posted a net loss of $2.3 billion, excluding preferred dividend payments, and said it would slash its dividend by 85 percent.

Freddie Mac today reported its corporate earnings for the second quarter and as expected by many analysts it eneded up having a big loss. The mortgage lender company lost 821 million dollars in the second quarter.

This morning GM reported that it lost $15.5 Billion dollars in the second quarter. Yesterday we reported that Exxon gained $11.68 billion dollars of profit in the second quarter. I am wondering if GM's loss is the biggest ever loss by a U.S. corporation in the recent history. May be not, but Exxon's gain is. Exxon sells gasoline, GM sells cars, consumers make the decisions.