Stock Market News: Google (NASDAQ:GOOG), UPS (NYSE:UPS), Ford Motor (NYSE:F), TD Ameritrade (NASDAQ:AMTD), E*Trade (NASDAQ:ETFC)

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In earnings news, Google (NASDAQ:GOOG) is expected to post earnings of $6.60 per share on 20% higher revenue of $4.95 billion after the close of trading. UPS (NYSE:UPS) said its adjusted first-quarter earnings would be much higher than anticipated and reported they were 71 cents a share, far exceeding analyst expectations of 57 cents a share. Revenue rose 7%. UPS raised its 2010 profit outlook to $3.05 to $3.30 a share from a range of $2.70 to $3.05 a share announced in January, again, far above projections. Shares jumped 5% ahead of the bell. In the automotive sector, Ford Motor (NYSE:F) said Thursday its European sales rose 16% to 192,500 vehicles in March, making it the best-selling brand on the continent. -Daily Finance

China’s economic growth accelerated to the fastest pace in almost three years in the first quarter, highlighting overheating risks that may prompt the government to scrap the yuan’s peg to the dollar. Gross domestic product rose 11.9 percent from a year earlier, the statistics bureau said at a briefing in Beijing today. That was more than the median 11.7 percent estimate in a Bloomberg News survey of 24 economists. A lower-than-estimated gain in consumer prices complicates a debate in Beijing on when to raise interest rates, cut in 2008 to counter the financial crisis. Australia and India have already moved and Singapore yesterday allowed a one-time revaluation of its currency as the region winds back stimulus policies to limit asset-bubble and inflation risks. -Bloomberg

TD Ameritrade (NASDAQ:AMTD) is looking to use its $1.1 billion in cash for an acquisition, a dividend or a share buyback CEO Fred Tomczyk told Reuters. AMTD had told Reuters in November that it was eyeing smaller rival E*Trade (NASDAQ:ETFC). ETFC shares rose about 3%. –Daily Finance

China continued selling U.S. Treasurys in February, although it remained the largest foreign holder, the Treasury Department said. Overall, foreigners were net buyers of long-term U.S. financial assets in February, according to the monthly Treasury International Capital report, known as TIC. China’s holdings of Treasurys fell $11.5 billion to $877.5 billion, following net sales of $5.8 billion in January. Heavy Treasury sales by China in December, when it cut holdings by $34.2 billion, set off fears that the largest creditor nation to the U.S. might be shifting out of U.S. assets. –The Wall Street Journal

 


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