Today in business

April 22, 2009 

Wells Fargo CEO should be busy

Wells Fargo CEO John Stumpf won't work bankers' hours today.

This morning, his company, which bought Wachovia late last year, will report its first-quarter financial results. On a conference call with Wall Street analysts, Stumpf will discuss how that acquisition is helping Wells Fargo's results, including doubling its mortgage business during the first quarter.

This afternoon, Stumpf is scheduled as a keynote speaker at the Council for Entrepreneurial Development's Venture 2009 conference in Pinehurst. Naturally, the audience will be keenly interested in hearing his take on the economic recovery, and the state of lending to businesses.

Maybe he'll find time to squeeze in a few holes of golf?

GSK to report quarterly results

GlaxoSmithKline, the largest drugmaker to call the Triangle home, will report its latest quarterly results this morning.

The British company with its U.S. headquarters in Research Triangle Park is expected to report that profit fell as generic competition continued to erode sales of some of its best-selling medications. GSK is cutting thousands of jobs, including some in the Triangle, to offset slowing sales.

The company also has announced a series of deals to bolster its pipeline of new products, including the $2.9 billion acquisition of Stiefel Laboratories on Monday.

This morning, CEO Andrew Witty will discuss those steps and others he is planning to heal GSK's fortunes.

Top names report bottom lines

This week's flurry of corporate earnings peaks today.

Reports are due out from business titans such as AT&T, Apple, Boeing, Continental Airlines, eBay, McDonald's, Morgan Stanley and more. The collective tone of the results, and management projections for the rest of 2009, will help chart the course on Wall Street today.

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