Tiffany has a chance to shine on Thursday when it reports first-quarter results, but there is a possibility of some tarnish.

Tata Steel's net profit for the fiscal fourth quarter plunged 90% from a year earlier, when a one-time gain boosted its earnings, while sluggish demand for steel in Europe limited the company's sales growth.

Tokio Marine's fiscal-year profit plunged 92% while MS&AD Insurance Group and NKSJ Holdings both posted losses, hurt by about $6 billion in payouts related to flooding in Thailand that damaged Japanese manufacturing operations.

Japan's top three nonlife insurers posted weak results in the fiscal year ended March, hit by increased insurance payouts related to flooding in Thailand that hit Japanese manufacturing operations.

State Bank of India, the nation's largest lender by assets, exceeded market expectations for its fourth-quarter net profit, driven by strong loan growth and lower provisions against bad loans and cost.

The U.K.'s dip back into recession has been a blow to most businesses in Britain. But not Wal-Mart Stores.

Applied Materials posted another drop in quarterly profit, but the maker of semiconductor production tools said smartphone sales are helping to pave the way for its next upswing.

Vedanta Resources said it is focused on its corporate restructuring and debt reduction as the miner reported a 13% rise in its 2012 fiscal-year operating earnings.

Gap raised its full-year profit outlook, even though its first-quarter net income was unchanged from a year earlier. In the first quarter, sales rose at its Old Navy, Gap and Banana Republic chains, but rising costs and a drop in overseas sales held back the bottom line.

Toshiba said it would target emerging markets in a drive to double its operating profit to about $5.5 billion over the next three years.

GameStop cut its full-year sales forecast and reported that first-quarter earnings fell 9.8% on a double-digit drop in same-store sales. Store traffic was light, it said, and demand was weak for new hardware and software.

Wal-Mart reported a 10% rise in quarterly earnings, as the world's biggest retailer benefited from a sales pickup in the U.S. and a strong performance overseas. Apparel sales rose for the first time in six years.

Assets sales helped Sears return to a first-quarter profit, but the continual shedding of real estate and other holdings have reinforced a feeling on Wall Street that the 126-year-old retailer is in the early stages of liquidation.

3i Group said it has appointed Simon Borrows as its new chief executive officer, a widely expected move that many in the market hope will act as a trigger to reverse the company's falling share price.

Earnings at Commonwealth Bank of Australia rose during its fiscal third quarter, but not as much as analysts had expected, sending its shares lower.