Today's CNBC MarketWrap

Today's top 5 stories on CNBC

1. Microsoft's Q1 Results: Microsoft Q1 earnings rise 29%, with CNBC's Jim Goldman, and Dan Morgan, Synovus Securities portfolio manager.

2. AIG Write-Off Rumors Untrue: AIG write-off rumors aren't true, reports CNBC's David Faber.

3. Rangel's Tax Overhaul: Reaction to Congressman Rangel's tax plan, with Jason Furman, Brookings Institution; Alan Reynolds, Cato Institute; Larry Kudlow, "Kudlow & Company" host; and CNBC's Dylan Ratigan.

4. Bank of America Shakeup: Big changes at B of A, reports CNBC's Melissa Lee

5. New Home Sales Rebound: This morning's economic data could point to a recovery in the housing market, with Rod Smyth, Wachovia Securities; and CNBC's Bill Seidman & Steve Liesman.

Click here to view all of today's Top stories

Sports Biz w/ Darren Rovell: Fox And World Series "Shameless" Moments CNBC reporter Darren Rovell blogs on the rather "interesting" advertising that Fox Network has used during its World Series Coverage. And read the Fox reaction to Darren's post. . Click here to view posting.

Tune in to CNBC tomorrow to watch the market unfold

1. Microsoft Beats: Microsoft shares surged after its earnings came in well above Wall Street forecasts. Jim Goldman follows the reaction to the upbeat report by the tech titan.

2. Countrywide Concerns: The big lender has had more than a rough go amidst the subprime meltdown and currently, the stock price sits at a 52-week low. Can the outlook be any darker for Countrywide? Diana Olick follows the earnings report due out Friday morning.

3. Firestorm Crop Fallout: As the firestorm frenzy calms in California, businesses, inspectors and adjusters are beginning to count up the losses: money, homes, displaced persons... and crops! The avocado crop has been particularly hard hit. Jane Wells is live on the farm to look at the broad crop losses, and how guacamole may be pricier for this year's Super Bowl.

4. Ga-Ga for Alibaba: The IPO for Alibaba.com, a gateway website to retail suppliers in China, has been massively oversubscribed, attracting more than $100 billion worth of orders from investors. Yahoo, a 39% shareholder in Alibaba Group, is expected to retain a significant interest in the Chinese e-commerce unit after the listing. Melissa Lee has the latest on the high profile IPO, the accusations of promoting counterfeit goods, and why there's so much buzz surrounding new Chinese stocks.

5. London Calling Football Fans: This weekend, the Miami Dolphins take on the New York Giants. The match-up isn't what's creating buzz, it's the location of the game: London, England. It's the second regular season NFL game contested outside the U.S. (one previously in Mexico) and it's aimed at fostering a much sought-after international audience, even at the expense of hometown fans. Darren Rovell looks at the economics of the NFL abroad.

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