Merck Doubles Profit; Arch Coal Heats Up First Quarter; Northwest Bankcorp Bolstered by Visa IPO; Profit Dives for Bank of America; National City Posts Loss, Slashes Dividend; Mattel Profit Drops; Strong Hasbro Results; Lowered Expectations for MF Global.

In the currency market, the dollar gave up last week’s gains against the euro. Late Monday, the euro was trading at $1.5913 vs. $1.5804 on Friday.

Another multibillion-dollar write-down hits the Street. China gets chopped in two… Shanghai Composite erases 2007 gains. Rice at another record high… U.N. warns of coming “silent famine,” food rationing hits U.S. soil. Euro near $1.60… global finance chiefs grow tired of the declining dollar.

Citigroup Inc.’s (C) highly anticipated first-quarter earnings missed analyst’s expectations, as the largest U.S. bank posted its second straight loss and announced it will cut 9,000 jobs this year.

Pop quiz: Over the past six months, one sector of the market has seen more insider buying than any other. Can you name it? If you think it’s technology, you’d be wrong. Yes, the sector has enjoyed a resurgence in recent months, but not enough to whip up a heavy enough wave of insider buying as the sector I’m talking about.