---Bond insurer MBIA Inc. (MBI) late Monday eliminated its quarterly dividend and said it would not do any new structured finance business for about six months as it struggles to keep enough capital to retain its treasured AAA credit rating. Shares are up 23.2% in Frankfurt.
---Merrill Lynch & Co. (MER) late Monday restated its cash flows for fiscal 2005 and 2006, and said the restatements were the result of errors that offset each other. Elsewhere, the bank said Tuesday it dismissed two private bankers in Asia due to "serious breaches of internal policy." Frankfurt shares are currently up 3.3%.
---International Business Machines Corp. (IBM) is set to launch the next generation of its mainframe computer line Tuesday, which analysts expect to provide a boost to the company's hardware and software sales, the Wall Street Journal reported. Shares are up 0.7% in Frankfurt.
---Home Depot Inc.'s (HD) fiscal fourth-quarter net income fell 27% to $671 million, or 40 cents a share, from $925 million, or 46 cents a share, a year earlier, due in part to higher operating costs. Stock is up 1.8% in Frankfurt.
---Elsewhere on the earnings calendar, investors will keenly watch reports from Macy's Inc. (M), Target Corp. (TGT) H.J. Heinz Co. (HNZ) and CBS Corp. (CBS).
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