Several behemoths, including Apple, the largest U.S. company by market value, as well as Microsoft, McDonald's (MCD.N) and AT&T (NYS:T), are due to report earnings. They'll be accompanied by highfliers like Netflix and Facebook, giving the first real cross-section of the state of corporate America as temperatures rise across the country and investors hope to put the cold weather behind them. Strategists will also be looking for clues on how badly China's slowdown hits U.S. corporate results. The first batch of earnings came out as equities were working their way through a selloff led by trading-crowd favorites like Netflix and the biotech stocks.
Daimler (DAI.DE) said its DENZA electric car will be eligible for local subsidies in China when it goes on sale there in September priced at 369,000 renminbi ($60,000). DENZA, a local Chinese brand jointly developed with Chinese partner BYD , forms part of the German auto maker's push to expand its footprint in the world's largest car market, and to boost economies of scale for electric cars. Speaking at Auto China, the car show held in Beijing on Sunday, Thomas Weber, Daimler's head of research and development, said: "DENZA is the first complete vehicle that Daimler has developed together with BYD outside of Germany."
Germany's BMW (BMW.DE) is getting closer to deciding whether it will build a new factory, its board member Ian Robertson said on Sunday, as the luxury carmaker expands capacity to meet demand in key markets. "We are in the final stages of deciding where the plant will be," Robertson told reporters at the Auto China show in Beijing on Sunday. Robertson said several locations were under consideration, though he declined to elaborate. Earlier this year, BMW said it planned to expand capacity at its plant in Spartanburg in the United States to boost production levels of its sports utility vehicles.