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This is Bloomberg Surveillance.

Good morning at 730 on Wall Street.

I'm Michael McKee, along with Tom Keynes,

some news just crossing the Bloomberg Professional Terminal.

The Shander Group is buying a 9.9% stake in Legg Mason from Tryan.

We'll get some more information on that as the morning goes on.

Earning season began with a disappointment.

Alcoa shares right now trading down by 3.6 percent, the biggest U.S.

aluminum producer cutting forecasts for its largest manufacturing unit.

Juniper Networks right now down 9.6 percent.

First quarter profit and revenue falling short of forecast sluggish demand for networking equipment. And over in Europe... and

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