Today's Headlines

Bloomberg:
- President Bush said the administration is seeing signs that the economic stimulus is beginning to work and urged Congress to make permanent his tax cuts. “The last thing America needs is a tax increase,” he said.
- Industrial Production in Germany, Europe’s largest economy, unexpectedly declined in April, the second report in as many days to suggest Europe’s largest economy is cooling.
- Crude oil soared more than $11/bbl. as historic investment fund speculation continues unabated after the US dollar weakened and an Israeli deputy made aggressive comments towards Iran.
- American Superconductor(AMSC), a leading energy technologies company, announced today that it has licenses one of its proprietary wind turbine designs to Taiwan-based TECO Electric & Machinery, Ltd.(TECO), the world’s third-largest motor manufacturer. Under the terms of the contract, AMSC's wholly owned AMSC Windtec(TM) subsidiary will license to TECO the design for its FC-2000, a proprietary 2 megawatt (MW) IEC Class I (high wind speed) wind turbine.

NY Times:
- The FTC has opened a formal antitrust investigation of Intel(INTC), the world’s largest maker of computer microprocessors, for anticompetitive conduct, government officials and lawyers involved in the proceeding said Friday.

NY Post:
- Lehman Brothers(LEH) is considering releasing its second-quarter earnings a week earlier, and tying that announcement to news about a plan to raise capital, as the investment bank looks to quiet doubts about its future.

Washington Post:
- Senate Democrats May Pull Climate Bill. If this week’s Senate debate on a proposed cap-and-trade system for greenhouse gases was supposed to be a dress rehearsal for climate legislation, things are not looking too good for opening night.