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At least 28 people have been killed and more than 320 injured in a a suicide car bombing in Kabul, media reports said. After the vehicle explosion, armed men stormed the area close to Ministry of Defense buildings in the Afghanistan capital, the BBC reported. A gunfight followed the bomb, which went off during Tuesday morning rush hour. An Afghan Taliban group has claimed responsibility for the attack, reports said. “First a suicide bomber blew up his explosives-laden lorry on the gate of the department and then other armed attackers went in and started shooting on the rest of the enemies,” the group said in a statement cited by CNN.

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From:: Stock Market News

WASHINGTON (MarketWatch) – Wells Fargo Securities has joined the ranks of the Federal Reserve’s primary dealers of U.S. government securities, the central bank announced Monday. Primary dealers trade directly with the Fed and are required to bid at Treasury auctions.

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Shares of Rambus Inc. tanked in Monday’s extended session after the technology licensing company issued a weak outlook for the current quarter. Rambus reported its first-quarter earnings shrank to $1.88 million, or 2 cents a share, from $9.5 million, or 8 cents a share, a year earlier. On an adjusted basis, the company earned 13 cents a share. Revenue fell to $72.7 million from $72.9 million. Analysts surveyed by FactSet had forecast earnings of 5 cents a share on revenue of $73.3 million. Rambus projected second-quarter revenue of $72 million and $77 million, below analysts’ outlook of $78.7 million. Shares skidded 9.9% in after-hours trading.

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From:: Stock Market News

International Business Machines Corp. rose in Monday’s extended session after the technology giant turned in better-than-expected earnings but posted an year-on-year drop in revenue for a 16th straight quarter. IBM reported its first-quarter earnings slid to $2.01 billion, or $2.09 a share, from $2.33 billion, or $2.35 a share, a year earlier. Excluding charges and items, Big Blue would have earned $2.35 a share. Revenue declined to $18.68 billion versus $19.59 billion. Analysts surveyed by FactSet had forecast adjusted earnings of $2.09 a share on revenue of $18.29 billion. IBM shares climbed 1.3% in after-hours trading.

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From:: Stock Market News

The Dow Jones Industrial Average on Monday closed above the key 18,000 mark for the first time since July as better-than-expected corporate earnings offset the disappointment over the failure of oil producers to limit crude output during a meeting in Doha, Qatar, over the weekend. However, companies like Hasbro Inc. and PepsiCo Inc. , which reported early Monday, turned in robust quarterly earnings, helping to soothe investors’ sentiment. The Dow Jones Industrial Average gained 106 points, or 0.6%, to end at 18,004, while the S&P 500 rose 13 points, or 0.7%, to close at 2,094. The Nasdaq advanced 21 points, or 0.4%, to finish at 4,960.

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From:: Stock Market News