American Express Posts Higher Earnings

Google plans spending spree in 2007; Pfizer has weaker results; plus more stocks in the news Friday

American Express (AXP) Posts $0.88 vs. $0.70 first quarter earnings per share (EPS) from continuing operations on a 10% revenue rise (net of interest expense).

Google (GOOG) Posts $3.18 vs. $1.95 first quarter EPS on a 63% revenue rise. Expects "significant" capital expenditures in 2007. Elects CEO Eric Schmidt as chairman.

Pfizer (PFE) Posts $0.48 vs. $0.56 first quarter EPS as restructuring costs and the absence of 1 times tax benefit offset a 6.2% revenue rise. Notes it is disappointed with Exubera performance to date. Sees $1.30 to $1.41 2007 EPS and $1.75 to $1.93 in 2008 (both reported).

H & R Block (HRB) To sell Option One Mortgage unit to OOMC Acquisition; cash purchase price will be the value of the tangible net assets of the business, less $300 million. Sees a $290 million to $320 million fourth quarter non-cash pretax charge for impairment of investment in Option One.

McDonald's (MCD) Posts $0.62 vs. $0.49 first quarter EPS on 11% higher revenue. Agrees to franchise nearly 1,600 sites in Latin America and the Caribbean. As part of the deal, expects to receive about $700 million in cash proceeds from the sale of these operations.

Capital One Financial (COF) Posts $1.62 vs. $2.86 first quarter EPS. Cuts 2007 EPS guidance to between $7.00 and $7.40; cites mortgage banking weakness.

Caterpillar (CAT) Posts $1.23 vs. $1.20 first quarter EPS on a 6.6% revenue rise. Raises a $41.5 billion to $43.6 billion 2007 sales forecast to between $42 billion and $44 billion and $5.20 to $5.70 EPS to between $5.30 and $5.80.

Advanced Micro Devices (AMD) Posts $1.11 first quarter loss vs. $0.38 EPS on a 7.4% revenue decline. Sees second quarter revenue flat to slightly up.

Career Education (CECO) Announces that the US Department of Justice in Chicago notified the company on April 19 that it was declining prosecution and closing its grand jury investigation of Career Education.

Satyam Computer (SAY) Posts $0.26 vs. $0.20 fourth quarter EPADS.

Honeywell (HON) Posts $0.66 vs. $0.52 first quarter EPS on 11% higher sales. Raises 2007 EPS guidance by $0.15 to between $3.00 and $3.10, and sales guidance by $700 million to $33.5 billion.