Sony also cuts targets for smartphones and camera sales. (Reuters)

A complex Irish tax loophole helps Apple Inc. (NASDAQ: AAPL) save billions in taxes. (Reuters)

Merck & Co. Inc. (NYSE: MRK) sets a $5 billion share buyback through Goldman Sachs Group Inc. (NYSE: GS). (Reuters)

Sprint Nextel Corp. (NYSE: S) raises its offer for Clearwire Corp. (NASDAQ: CLWR), but many investors think the new sum is inadequate. (Reuters)

Jamie Dimon has a stronger position at J.P. Morgan Chase & Co. (NYSE: JPM) now that he will keep both the CEO and chairman jobs. (WSJ)

Prosecutors may use the Racketeer Influenced and Corrupt Organizations Act (RICO) to charge SAC Capital Advisors. (WSJ)

Ford Motor Co. (NYSE: F) will increase production by 200,000 vehicles this year. (WSJ)

ESPN, which is majority owned by Walt Disney Co. (NYSE: DIS), begins a series of large layoffs. (WSJ)

Phone companies start to sell subscriber data to marketers. (WSJ)

Vodafone Group PLC (NASDAQ: VOD) says it will use a dividend from Verizon Wireless to expand its main businesses in Europe. (WSJ)

Renault and Nissan aggressively invest to increase market share in India. (WSJ)

J.C. Penney Co. Inc.’s (NYSE: JCP) $2.25 billion loan, backed by real estate, will show how much leverage such assets hold. (WSJ)

The new Microsoft Corp. (NASDAQ: MSFT) Xbox will face rising competition from online games. (NYT)

The Bank of Japan decides not to increase its monetary easing plans. (FT)

Japan’s trade deficit rises as high-priced imports offset the effects of a weaker yen. (FT)

Rumors surface that Sony may spin out its entertainment unit. (Bloomberg)

The U.S. dollar index is trading up 0.8% today, now at 84.2540. The GSCI commodity index is up 0.5% at 627.99. WTI crude oil closed up 0.9%, at $96.02 a barrel. Brent crude trades up 0.1% at $103.80 a barrel. Natural gas is up 3.1% today at about $4.06 per million BTUs. Gold settled down 1.6% today at $1,364.70, down nearly $72 for the week.

The unofficial closing bells put the DJIA up more than 121 points to 15,354.79 (0.80%), the NASDAQ rose nearly 34 points (0.97%) to 3,498.97, and the S&P 500 rose 0.95% or nearly 16 points to 1,666.12.

There were a several analyst upgrades and downgrades today, including:

• Deere & Co. (NYSE: DE) cut to ‘sell’ and price target slashed to $85 at Goldman Sachs;
• The Walt Disney Co. (NYSE: DIS) cut to ‘neutral’ at Atlantic Securities;
• General Motors Co. (NYSE: GM) raised to ‘buy’ at Credit Agricole;
• United Continental Holdings plc (NYSE: UAL) raised to ‘market perform’ at Avondale Partners; and
• Pandora Media Inc. (NYSE: P) cut to ‘hold’ at Maxim Group on a valuation call.

Earnings reports since markets closed last night have resulted in some price changes for reporting companies as of the last half hour of trading today (more coverage is linked to the company’s name):

• Autodesk Inc. (NASDAQ: ADSK) is down 7% at $37.00;
• Dell Inc. (NYSE: DELL) is down 0.2% at $13.40;
• J.C. Penney Co. Inc. (NYSE: JCP) is down 3.6% at $18.11;
• Nordstrom Inc. (NYSE: JWN) is down 0.7% at $60.72; and
• Stage Stores Inc. (NYSE: SSI) is down 7.6% at $24.11;

Before markets open Monday morning we are scheduled to hear earnings from Campbell Soup Co. (NYSE: CPB), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), and Qihoo 360 Technology Co. Ltd. (NYSE: QIHU).

Some standouts among heavily traded stocks today include:

National Bank of Greece SA (NYSE: NBG) is up 19% at $2.38. The Greek bank’s shares rise following a boost to the country’s sovereign debt rating earlier this week.

Real Goods Solar Inc. (NASDAQ: RSOL) is up 98.4% at $3.48, after posting a new 52-week high of $3.63 earlier today. The solar PV installation company is finally getting some attention from investors, even though its first quarter earnings released last week were weak.

Tableau Software Inc. (NYSE: DATA) is up 62.5% at $50.38. The cloud-based, big data visualization maker held its IPO today.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Chicago Fed national activity index
• 11:30 a.m. – 3- and 6-month bill auctions

Have a great weekend!

The deal is really nothing particularly unusual — an Internet video streaming service adding old shows to its lineup. Netflix Inc. (NASDAQ: NFLX), Hulu and many other streaming services do this all the time. About a month ago Amazon said it would let viewers help it choose the first of its original productions to add to the Prime service.

That was mildly interesting, but just a page from Netflix’s book. Somehow or other, the video streaming companies are going to have to shake loose new programming from the established media firms like Walt Disney Co. (NYSE: DIS), CBS Corp. (NYSE: CBS) and others. Original programming like Netflix’s “House of Cards” proved to be a huge success, according to the company, and that is what drove Amazon to jump into the fray.

Of course all of these have to compete with Google Inc.’s (NASDAQ: GOOG) YouTube, which is far and away the leading provider of video content. That is because most of YouTube’s videos are made by amateurs and the videos are free. If — and it is a big “if” — YouTube can get viewers to pay for the various channels it has begun to offer, Google could end up putting a huge dent in revenues and profits at Netflix, Amazon Prime and others.

The AP says the U.S. Department of Justice took some of the data held by its reporters during seizures that occurred last year. (Reuters)

Barclays PLC (NYSE: BCS) gets a shareholder suit over LIBOR manipulation dismissed in the United States. (Reuters)

Carl Icahn and Southeastern name their director nominees for Dell Inc.’s (NASDAQ: DELL) board. (Reuters)

Sharp posts a record annual loss, again. (WSJ)

Walt Disney Co. (NYSE: DIS) and Twitter add to their marketing relationship. (WSJ)

Top financial officials of the European Union differ on whether they can create a regionwide banking alliance. (WSJ)

New Web browsers allow consumers to link access across many devices. (WSJ)

Activist investor Daniel S. Loeb wants Sony Corp. (NYSE: SNE) to spin off its entertainment division. (NYT)

More Bloomberg clients ask about reporter access to their trading data. (NYT)

The Commodity Futures Trading Commission investigates some energy and metal swaps. (FT)

An $11 billion bond offering by Petróleo Brasileiro S.A. (NYSE: PBR) sets a record for such transactions. (FT)

China and Japan move to take roles in the Arctic now that the polar ice cap has melted. (Bloomberg)

Posting on Google+ has been low, hurting the chance for Google Inc. (NASDAQ: GOOG) to get ads for the service. (Reuters)

A drop in network TV ratings hurts prices of the annual “upfront” buying process of ads. (Reuters)

Softbank asks some large U.S. financial firms not to back the Dish Network Corp. (NASDAQ: DISH) offer for Sprint Nextel Corp. (NYSE: S). (Reuters)

Intial public offerings are set to increase as a taste for risk moves back into the markets. (WSJ)

“Iron Man 3″ keeps its top spot at the U.S. box office, and “The Great Gatsby” finishes in second. (WSJ)

Chinese companies invest in businesses that supply the car industry in the United States. (NYT)

The least director of J.P. Morgan Chase & Co. (NYSE: JPM), Lee Raymond, may help decide the fate of chairman and CEO Jamie Dimon. (NYT)

Walt Disney Co.’s (NYSE: DIS) ABC will allow some viewers to watch shows live via a new app. (NYT)

Large hedge funds begin to invest in Greek bank debt. (FT)

The United States pressures EU leaders about the extent and seriousness of the recession in the region. (Bloomberg)

Sales at Yum! Brands Inc.’s (NYSE: YUM) KFC outlets in China are hurt as much by mistakes in store design and menu as by worry about the safety of chicken. (Bloomberg)

With inflation below Federal Reserve targets, the central bank may have to increase bond buying. (Reuters)

Some hedge funds move into Detroit debt. (Reuters)

Target Corp. (NYSE: TGT) will use Facebook Inc. (NASDAQ: FB) to offer shoppers discounts. (Reuters)

Softbank management will meet Sprint Nextel Corp. (NYSE: S) investors and might raise its bid for the carrier. (Reuters)

Electronic Arts Inc. (NASDAQ: EA) says better game products should increase sales next year. (Reuters)

American use of credit begins to improve from a six-year slump. (WSJ)

Airline mergers substantially cut routes served. (WSJ)

J.C. Penney Co. Inc. (NYSE: JCP) says sales fell sharply in the first quarter. (WSJ)

Carl Icahn and Southeastern, both large Dell Inc. (NASDAQ: DELL) shareholders, may challenge to get board seats. (WSJ)

The Dow closes above 15,000 for the first time. (WSJ)

More people from recession-racked nations move to Germany for jobs. (WSJ)

Start-ups based on Bitcoin e-commerce begin to raise large sums of money. (WSJ)

Yahoo! Inc. (NASDAQ: YHOO) tries unsuccessfully to pull out of its search partnership with Microsoft Corp. (NASDAQ: MSFT). (WSJ)

The share price of Tesla Motors Inc. (NASDAQ: TSLA) may have risen too quickly in the past several months. (WSJ)

A second proxy firm supports a split in the roles of chairman and CEO at J.P. Morgan Chase & Co. (NYSE: JPM). (FT)

“Iron Man 3″ is expected to greatly help the earnings of Walt Disney Co. (NYSE: DIS). (FT)

Gold prices have their biggest drop in 30 years, but that does not dissuaded some investors. (Bloomberg)

Revenues grew by 10% to $10.554 billion, also slightly above the $10.48 billion consensus. In short, Disney bear earnings estimates and beat revenue estimates. Disney’s Interactive segment remains a money-loser but this was only -$54 million. Here is a breakdown of the gains in sales per unit:

• Media Networks up 6% to $4.957 billion
• Parks and Resorts up 14% to $3.302 billion
• Studio Entertainment up 13% to $1.338 billion
• Consumer Products up 12% to $763 million
• and Interactive up 8% to $179 million

Shares of Disney rose 1.55% to $66.07 today and the stock hit a new all-time high of $66.09. The stock was initially indicated up 0.5% at $66.40 and then more recently was down 0.2% at $65.91 after the stock market close. It is just too soon to tell if this earnings report is going to drive a new all-time yet again.

The one issue we would bring up is that the valuations have gone above what Wall Street analysts are comfortable with. The consensus price target from Thomson Reuters is just over $64.50 on Disney’s stock, so either analysts will have to play catch-up with higher price targets or they will start to say that Disney shares have reached a fair value now that the stock trades at about 19 times expected 2013 earnings.

Microsoft Corp. (NASDAQ: MSFT) plans to upgrade Windows 8 to boost sales. (Reuters)

New York state will file charges against Bank of America Corp. (NYSE: BAC) and Wells Fargo & Co. (NYSE: WFC) over mortgage instrument abuses. (Reuters)

Electronic Arts Inc. (NASDAQ: EA) and Walt Disney Co. (NYSE: DIS) set a partnership for Star Wars games. (Reuters)

Intel Corp. (NASDAQ: INTC) makes changes to its Atom chip in a bid for more mobile sales. (Reuters)

The Securities and Exchange Commission charges officials of Harrisburg with misrepresenting the city’s financial state. (WSJ)

Bank of America pays MBIA Inc. (NYSE: MBI) $1.7 billion to settle mortgage-related charges. (WSJ)

European Union officials issue a complaint against Google Inc.’s (NASDAQ: GOOG) Motorola over its patent violations of Apple Inc. (NASDAQ: AAPL) intellectual property. (WSJ)

The three largest J.P. Morgan Chase & Co. (NYSE: JPM) investors fail to support the plan to allow Jamie Dimon to keep both his chief executive and chairman roles. (WSJ)

San Francisco City Attorney Dennis Herrera sues Monster Beverage Corp. (NASDAQ: MNST) over sales of its drinks to underage children. (WSJ)

The European Union will put tariffs on Chinese solar panels. (WSJ)

Some telecom companies adopt mobile OS products that compete with Apple’s iOS and Google Android. (WSJ)

To fight online sales of fake drugs, among other things, Pfizer Inc. (NYSE: PFE) will sell Viagra online. (NYT)

Foxconn, a major Apple supplier, begins to manufacture its own TVs. (NYT)

Google’s YouTube will allow some providers of content to charge subscription fees. (NYT)

Slow increases in health care costs could be due to the recession and higher co-pay charges. (NYT)

Facebook Inc. (NASDAQ: FB) will introduce video ads. (FT)

Swiss unemployment reaches a two-year high. (Bloomberg)

While financial terms were not disclosed, EA is going to develop and publish new Star Wars titles on all interactive platforms and the most popular game genres. Disney will retain certain rights to develop new titles within the mobile, social, tablet and online game categories.

Disney has gone out of its way to indicate that there will be many more Star Wars efforts launched other than just Episodes 7,8, and 9. We called this a multi-generational win for Disney and the EA deal only goes to show that Disney is not lightening up on its efforts here.

EA even shows that DICE and Visceral will produce new games, while BioWare continues to develop for the Star Wars franchise. As a reminder, it was only about 14 months ago that EA showed that more than 2 million of the Star Wars: The Old Republic MMORPG sales had been seen.

This may just be a continued expansion of the past to some, but this and a new wave of consoles coming to market in time for Christmas should offer some added support for what is currently a turnaround situation for EA.

USA Today reports on the “Iron Man 3″ opening weekend:

“The terrible run of 2013 releases ended” this weekend, says David Mumpower of Boxofficeprophets.com. “Iron Man 3 behaved like a box-office black hole, mercilessly devouring the other films.”

Critics and fans wolfed down the superhero story. About 78% of critics recommended the movie, while 83% of moviegoers liked it, according to pollsters RottenTomatoes.com.

Internationally, the film has been a hit for weeks, and IM3′s worldwide haul rose to $680.1 million. IMAX reported a record haul as well, collecting $16.5 million domestically and $13 million internationally.

Disney shares are up fractionally in premarket trading to $65.05, a new 52-week high if it holds. The 52-week range is $42.84 to $64.85.