News Summary (CHV, DD, BA, FDX, GOOG, MSFT)

Wall Street has started this week on a decisively positive note, according to the bulls. However, it needs another wave of credible earnings reports from bellwethers such as Chevron (NYSE: CHV), DuPont (NYSE: DD) and Boeing (NYSE: BA). According to Brian Jacobsen of Wells Fargo, “this market is more like a turkey and not a bull or a bear."

FedEx (NYSE: FDX) has raised its EPS guidance for Q1 to $1.05-$1.25, from the prior guidance of $0.85-$1.05. The consensus earnings expectations stand at $1.01. The company has also lifted its EPS projections for FDX to $4.60-$5.20.

Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) are competing in yet another field, supplying the government's General Services Administration (GSA) with web-based email, and other software. Both the companies are already competing to win contracts from the local and state government and private companies. All eyes are riveted to way the bidding will progress, as this is a key contract, with the GSA having a major influence on the way other federal agencies acquire new technologies.

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