WRAPUP 1-Citigroup, Wachovia profits top forecasts

(Reuters) - Profit rose 18 percent at Citigroup, the largest U.S. bank,
and 24 percent at Wachovia, the fourth largest.




Shares of both companies fell, however, as investors
worried that banks would get stuck with more soured consumer
loans or riskier corporate debt on their balance sheets.


Read more at Reuters.com Bonds News

A.G. Edwards chief to receive $7.5mln award

(Reuters) - Bagby will receive the restricted stock award when the deal
closes. That is expected to happen in the fourth quarter.




Wachovia said in a filing with the U.S. Securities and
Exchange Commission that no other A.G. Edwards executive has
yet to enter into a similar employment arrangement.


Read more at Reuters.com Mergers News

U.S. Technology Stocks Rally on Profits; Ciena, Novell Shares Lead Advance

(Bloomberg) -- Technology shares rallied on better-
than-expected earnings, helping the U.S. stock market complete
its best May since 2003 and sending the Standard & Poor's 500
Index to a second straight record.

Ciena Corp. and Novell Inc. led the advance after first-
quarter earnings topped some analysts' forecasts. A.G. Edwards
Inc. rose the most in two decades after Wachovia Corp. said it
will buy the company for about $6.8 billion, the biggest
acquisition of a U.S. brokerage firm in almost seven years.


Read more at Bloomberg Stocks News

U.S. Stocks Rise on Takeovers; A.G. Edwards, Ceridian Shares Lead Advance

(Bloomberg) -- U.S. stocks extended their record-
breaking rally after A.G. Edwards Inc. and Ceridian Corp. agreed
to be acquired, adding to this year's unprecedented pace of
takeovers.

A.G. Edwards rose to an all-time high after Wachovia Corp.
agreed to buy the company for about $6.84 billion in cash and
stock in the biggest acquisition of a U.S. brokerage firm in
almost seven years. Ceridian advanced to a six-year peak after
Thomas H. Lee Partners LP and Fidelity National Financial Inc.
purchased the provider of payroll and human resources services
for $5.3 billion.


Read more at Bloomberg Stocks News