THE WORLD'S FINANCIAL NEWS ON APRIL 23, 2015

Dow stocks 3M (MMM), Caterpillar (CAT), and Procter & Gamble (PG) are among the dozens of companies out with earnings this morning. Dow component Microsoft (MSFT), along with Amazon (AMZN) and Google(GOOG) release quarterly results after the bell. (CNBC) Caterpillar Chairman and CEO Doug Oberhelman joins CNBC's "Squawk Box" at 8 a.m. ET to break down the heavy-equipment maker's earnings and see what they might indicate about the overall economy. Facebook (FB) late Wednesday reported mixed results-earnings that beat expectations and revenue that just missed. But the social media giant announced strong user growth and more than 4 billion daily video views. (CNBC) U.S. stock futures were lower in early trading, after a bounce back Wednesday on Wall Street on positive reaction to earnings. The S&P 500 andNasdaq approached all-time highs, while the Dow has a bit further to go. (CNBC) Petrobras (PBR) lost $8.8 billion in the fourth quarter after taking a write-down of $16.8 billion due to what the Brazilian oil giant described as corruption and other disruptions. (CNBC) As the Russian atomic energy agency gradually took charge of a company that controls one-fifth of all uranium production capacity in the U.S., a stream of cash made its way to former President Bill Clinton's charitable organization. (NY Times) The FCC's staff has reportedly recommended the agency hold a hearingover Comcast's (CMCSA) proposed $45 billion acquisition of Time Warner Cable (TWC). (WSJ) Some Apple Watch buyers who thought they would have to wait until Junewill get their gadgets sooner. | Apple (AAPL) watches may not be in Apple stores to purchase tomorrow, but select fashion boutiques around the worldhave their own stock . | Stars showed off their Apple watches. (Reuters & NY Times) A group of small banks and credit unions, suing Target (TGT) over its massive 2013 data breach, is moving to block the retailer's proposed $19 million settlement with MasterCard (MA). (Reuters) Chinese antitrust regulators have fined Mercedes-Benz about $57 million, accusing the company of fixing prices on luxury cars and some spare parts, the latest big-ticket penalty for a foreign carmaker in China. (NY Times) Billionaire Elon Musk earned less last year as CEO of Tesla Motors (TSLA) than many of the electric automaker's workers, receiving total compensation of just $35,360. (USA Today) Ray-Ban has asked Sen. Rand Paul's presidential campaign to stop selling the brand's Wayfarer sunglasses, which Paul had imprinted with the "Rand" logo. (The Hill)

	BY THE NUMBERS

China's manufacturing activity fell to a one-year low in April. The weak numbers lend further credence to the government's move over the weekend to stimulate the economy. In addition to a busy earnings day, investors get four reports on the U.S. economy: weekly jobless claims at 8:30 a.m. ET; April flash manufacturing PMI at 9:45 a.m. ET; new home sales for March at 10 a.m. ET; and the Kansas City Fed survey at 11 a.m. ET.

	STOCKS TO WATCH

AT&T (T) topped estimates by a penny, but revenue came in light as core subscribers declined. EBay (EBAY) earnings and revenues beat estimates, boosted by transaction growth and corporate cost control. Chipmaker Qualcomm (QCOM) beat on the top and bottom lines, but forward guidance came in light. Texas Instruments (TXN) missed earnings and revenue forecasts, while reporting weaker second-quarter guidance.