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On Tuesday, the German multinational software corporation SAP AG announced a decline in net profit in first quarter from last year. The software maker reported that non-IFRS profit was higher. Revenue of the company rose more than 20%. In addition, the company's Cloud subscriptions and support business showed significant growth. According to reports, the results were helped by a cheaper euro.

SAP also backed its targets for the full year. The company also reported that profit registered 23% decline to about 414 million euros. Last year, it was about 534 million euros. The new results are based on the basis of International Financial Reporting Standards. The company reported that after tax, Non-IFRS profit climbed about 5% to 697 million euros.

Financial services company Credit Suisse Group has dropped the most since the start of 2015 in Zurich trading after the company revealed that a key measure of financial strength fell in the first quarter.

In a statement on Tuesday, the bank stated that the capital ratio to risk-weighted assets was at about 10%. At the end of 2014, it was 10.1%. The company's target was 11%. In the same quarter, net income rose about 23% to 1.05 billion Swiss francs. According to the company, increased trading activity encouraged private banking and securities unit.

China Mobile Ltd. added about $21 billion of market value in Hong Kong after the firm reported increasing adoption of its 4G services.

The world's biggest wireless carrier surged 7.5% to HK$115.9 at the close of trade, the biggest gain in almost six years. In the first quarter, China Mobile added 53 million users to the 4G network. The carrier reported that 143 million customers are now on the high-speed network.

The company has confronted increased costs to build its 4G network and attract users with promotions on tariffs and smartphones. According to Anand Ramachandran, an analyst at Barclays Plc, declines in average revenue per user have hit bottom after the first quarter result.

On Monday, Morgan Stanley reported its most profitable quarter since the financial crisis. According to Thomson Reuters data, it was the financial major's most profitable quarter since the second quarter of 2007. The profit of the Wall Street investment bank was enhanced by higher revenue from trading bonds and equities.

The bank's trading business got a boost after the Swiss central bank scrapped the cap on the franc, the European Central Bank announced its quantitative easing program and the US Federal Reserve took steps to tighten monetary policy.

There was also a strong performance by global stocks. The firm's net profit rose up to 60% and profit of Goldman Sachs jumped to 41%.

On April 20, US defense contractor and the world's largest maker of guided missiles, Raytheon revealed that it has acquired information security provider Websense Inc. for about $1.9 billion. The contractor will be spinning it out into a new company.

Raytheon Co. announced the deal at the RSA Security 2015 conference at Moscone Center.

Once the deal is closed, Raytheon will own an 80% stake in the firm, and current Websense owner Vista Equity Partners will retain 20% of the company. In May 2013, Websense went private with Vista in a $907 million buyout.

Vista Equity was able to make a profit of about $1 billion in the sale to Raytheon after it held Websense for a bit less than two years.

House lawmakers voted 57-32 on Monday to eliminate price-based oil tax breaks and also to set a lower tax on oil extraction. It is expected that contentious debate will continue.

House Bill 1476 would eliminate the so-called large trigger exemption on the oil extraction tax. It is expected that the large trigger will come into effect from June 1. It has been estimated that eliminating the large trigger would add an estimated $120 million in state revenue in 2015-17.