Apple shares fall on production rumors

(Reuters) - An Apple spokeswoman could not immediately be reached for comment.




"There is unconfirmed chatter that iPod production is reduced. That is why the option volatility in Apple is elevated suggesting this uncertainty," said Paul Foster, options strategist at Web information site theflyonthewall.com.


Read more at Reuters.com Hot Stocks News

SPX Corp to buy a Johnson Controls diagnostic unit

(Reuters) - BOSTON, July 31 - Diversified manufacturer SPX Corp. said on Tuesday it had reached a deal to buy the European automotive diagnostics division of Johnson Controls Inc. for 32 million euros .



Johnson's automotive diagnostics unit last year generated about $80 million in revenue. SPX said it expects the deal to close in the third quarter of 2007.


Read more at Reuters.com Bonds News

UPDATE 1-Catalyst Paper profit hit by higher Canada dollar

(Reuters) - The Canadian papermaker said it earned C$200,000, or nil
per share, in the second quarter, compared with a profit of
C$42.4 million, or 20 Canadian cents a share, in the
year-before quarter.




Analysts were expecting, on average, a loss of 15 Canadian
cents a share, according to Reuters Estimates.


Read more at Reuters.com Market News

US STOCKS-Indexes fall on fears of more credit problems

(Reuters) - The Dow Jones industrial average was down 30.98
points, or 0.23 percent, at 13,327.33. The Standard & Poor's
500 Index was down 6.10 points, or 0.41 percent, at
1,467.81. The Nasdaq Composite Index was down 17.07
points, or 0.66 percent, at 2,566.21.




Read more at Reuters.com Bonds News

TREASURIES-Bond prices rise as stock market turns lower

(Reuters) - Bonds have been closely mirroring stocks recently, gaining
when stocks fall as investors turn to the relative safety of
bonds.




"Bonds are not leading, they are being led," said David
Ader, head of government bond strategy at RBS Greenwich Capital
in Greenwich, Connecticut. "Stocks were up and now they are
close to the lows of the day, while bonds were lower and now
they are higher on the day. It's not much more complicated than
that."


Read more at Reuters.com Bonds News

Oil Rises Above $78, Nearing Record as U.S. Refiners May Boost Operations

(Bloomberg) -- Crude oil rose above $78 a barrel in
New York, nearing a record, on speculation demand will outpace
supply as refiners increase fuel production.

Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.


Read more at Bloomberg Energy News

News Corp, Dow Jones deal expected Tuesday-source

(Reuters) - By Robert MacMillan and Kenneth Li



NEW YORK, July 31 - Rupert Murdoch's News Corp. is expected to reach a definitive agreement to buy Dow Jones & Co. Inc. on Tuesday evening, capping his three-month pursuit of the publisher of the Wall Street Journal, a source familiar with the matter said.


Read more at Reuters.com Mergers News

Canada's Dollar Strengthens as Crude Oil Prices Rise to Highest in a Year

(Bloomberg) -- Canada's dollar rose for the first
time in five days as oil prices soared to the highest in a year,
boosting the currency's appeal.

The currency also benefited as equity markets worldwide
rebounded as concern eased that tighter credit standards will
slow growth. The currency is on pace for a sixth straight
monthly increase, fueled by higher prices of the nation's main
commodity exports. Commodities account for about half of
Canada's exports.


Read more at Bloomberg Currencies News

U.S. Stocks Retreat on Subprime Concern; American Home Mortgage Plummets

(Bloomberg) -- U.S. stocks declined, erasing a
rally, on concern losses from subprime mortgages are worsening.

Banking shares fell after American Home Mortgage
Investment Corp. said it's unable to fund loans and may have to
liquidate assets. MGIC Investment Corp. and Radian Group Inc.
tumbled after the two home-loan insurers said their combined
stakes of more than $1 billion in a subprime mortgage company
may be worthless.


Read more at Bloomberg Stocks News

US STOCKS-Indexes pare gains after news from home lender

(Reuters) - The Dow Jones industrial average was up 33.73
points, or 0.25 percent, at 13,392.04. The Standard & Poor's
500 Index was up 3.38 points, or 0.23 percent, at
1,477.29. The Nasdaq Composite Index was down 2.86
points, or 0.11 percent, at 2,580.42.




Read more at Reuters.com Bonds News

UPDATE 2-American Home can't fund loans, may liquidate assets

(Reuters) - The Melville, New York-based real estate investment trust
is one of the largest U.S. lenders to struggle with a U.S.
housing slump that has caused home prices to stall, borrowing
costs to rise and defaults to soar.




American Home shares closed Friday at $10.47. They have not
traded since trading was halted on Monday morning.


Read more at Reuters.com Bonds News

Chile's Pinera quits as director of airline LAN

(Reuters) - Pinera, one of Chile's richest men, was fined about
$700,000 by the stock exchange regulator on July 6 after buying
3 million LAN shares in July last year while he had information
about the company's unpublished second-quarter results.




The regulator accepted the transaction was not driven by
his knowledge of that information.


Read more at Reuters.com Government Filings News

UPDATE 1-U.S. House passes Iran divestment bill

(Reuters) - WASHINGTON, July 31 - Calling for change in
Iranian nuclear policy, the U.S. House of Representatives
passed a bill on Tuesday to give legal protections to
investment managers who pull money out of the Iranian energy
sector.




Under the legislation approved by a 408-6 vote, the
Treasury Department would be required to list twice yearly on
the Internet the names of companies that have more than $20
million invested in the Iranian energy sector.


Read more at Reuters.com Government Filings News

Wendy's shares up on hopes of near-term sale

(Reuters) - A Wendy's spokesman would not comment on the letter.




In a note to clients on Tuesday, UBS analyst David Palmer said Peltz's interest would renew investor hope of a near-term sale of Wendy's, which has been struggling to revitalize sales at its hamburger restaurants.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Anadarko shares up as 2nd-qtr profit tops Street

(Reuters) - HOUSTON, July 31 - Shares of independent oil and
gas producer Anadarko Petroleum Corp. climbed on
Tuesday, a day after the company reported better-than-expected
quarterly earnings and raised its annual production forecast.




Houston-based Anadarko's shares initially rose more than 5
percent, but fell back a bit and were trading up 4.4 percent,
or $2.20 at $52.30 on the New York Stock Exchange at midday.


Read more at Reuters.com Market News

Fed will act on market slide if warranted: Poole

(Reuters) - Poole said the Fed should not add to the uncertainty by making its own policy less predictable. But if it was convinced about the scale of the risks, it would not stand idle.




"The market understands, I believe, that the Fed will act in due time if and when evidence accumulates that action would be appropriate," he said.


Read more at Reuters.com Business News

European Carbon Emission Permits Rise for Sixth Day; Power Prices Advance

(Bloomberg) -- European Union carbon dioxide permits
rose for a sixth day, the longest consecutive gain in more than two
months. German and French next-day power prices advanced.

Permits for December 2008 advanced as much as 60 cents, or 2.9
percent, to 21.45 euros ($29.39) a metric ton on the European
Climate Exchange in Amsterdam. They traded at 21.05 euros a ton at
5:49 p.m. local time.


Read more at Bloomberg Energy News

Bancroft family accepts News deal - DJ executive

(Reuters) - Prestbo told Reuters the information came from an internal company memo.






Read more at Reuters.com Mergers News

BAE Systems says completes Armor takeover

(Reuters) - "The acquisition expands the company's business in the United States and strengthens BAE Systems' position as one of the world's leading land systems businesses," BAE said in a statement to the London Stock Exchange.



BAE announced the transaction valued at $4.53 billion on May 7. Armor makes wheeled military vehicles and vehicle and individual armour systems.


Read more at Reuters.com Mergers News

FTSE 100 Rallies Most in 14 Months, Paced by GlaxoSmithKline, Lloyds TSB

(Bloomberg) -- U.K. stocks rose for the first time
in six days as profit reports from Lloyds TSB Group Plc and
SABMiller Plc reassured investors that earnings growth will be
sustained. The FTSE 100 Index rallied the most in 14 months.

GlaxoSmithKline Plc advanced after a panel of U.S. doctors
voted to keep the company's diabetes pill Avandia on the market.
Alliance & Leicester Plc rallied on takeover speculation.


Read more at Bloomberg Stocks News

Treasury Two-Year Yields Rise From Near 4-Month Low on Less Safety Demand

(Bloomberg) -- Treasury two-year note yields rose
from near a four-month low as a rebound in corporate bonds and
stocks sapped demand for the safety of government debt.

A boost in demand for higher-risk assets combined with two-
year yields near the lowest since March provided investors with
few reasons to buy Treasuries. The risk of owning European
corporate bonds fell by a record amount today as home lender
GMAC LLC said subprime mortgage losses had narrowed.


Read more at Bloomberg Bonds News

Zambia sees 2007 inflation down to 5.0 pct - c.bank

(Reuters) - Zambia should reduce annual inflation to five percent in 2007 from 8.2 percent the previous year, aided by higher global metal prices and a domestic food surplus, the central bank said on Tuesday.

Bank of Zambia (BoZ) governor Caleb Fundanga also said the country's economic indicators were positive ahead of the International Monetary Fund's (IMF) review of performance in the third quarter of the year.


Read more at Reuters Africa

Rand holds onto overnight gains, in range

(Reuters) - South Africa's rand held onto overnight gains on Tuesday, taking a breather after sharp losses racked up over the past week and shrugging off a wider trade deficit.

The domestic currency was trading at 7.0990 to the dollar at 1530 GMT, virtually unchanged from its close in New York on Monday, when it rebounded from a one-month low of 7.1999.


Read more at Reuters Africa

TREASURIES-Bonds trim losses as stocks gain

(Reuters) - Treasuries were little moved by mixed economic data that
painted a picture of benign inflation pressures and slower
economic growth, but surprisingly upbeat consumer sentiment.
For details, see [ID:nN30403317], [ID:nN30443227]




Treasuries rose sharply last week, pushing yields to
two-month lows on Friday after the stock market suffered its
greatest loss nearly five years.


Read more at Reuters.com Bonds News

Nelnet agrees to $2 mln settlement with New York

(Reuters) - Nelnet previously agreed to pay $1 million to settle an
investigation by Nebraska's attorney general.




Read more at Reuters.com Bonds News

GLOBAL MARKETS-Stocks rally worldwide as credit markets calm

(Reuters) - Earnings from General Motors Corp. sharply exceeded
Wall Street's estimates, driving its stock up nearly 3 percent
and lifting the Dow industrials as it increased investor
optimism about U.S. corporate profits.




The broad market also was bolstered by an inflation
indicator that rose less than expected in June.


Read more at Reuters.com Bonds News

US STOCKS-Wall Street rises on profits, data; GM helps

(Reuters) - NEW YORK, July 31 - U.S. stocks rose on Tuesday,
buoyed by strong earnings from companies such as General Motors
Corp. and Sun Microsystems , and some reassuring
reports on the economy.




GM set the stage for gains after the automaker swung to a
profit in the second quarter and handily topped Wall Street's
expectations [ID:nN31206991], while Sun Microsystems' shares
rose 7 percent after the high-end computer maker posted a
quarterly profit as it cut costs.


Read more at Reuters.com Bonds News

Northwest Airlines reports quarterly profit

(Reuters) - The company launched new shares after it emerged from
Chapter 11.





Read more at Reuters.com Market News

Rogers slips to loss after big non-cash charge

(Reuters) - Excluding one-off items, the company reported a profit of
C$277 million, or 43 Canadian cents a share.







Read more at Reuters.com Market News

UPDATE 2-Rogers ups dividend and forecasts, despite loss

(Reuters) - Because of what it sees in the second half of the year,
Rogers raised the top end of its 2007 estimates for revenue,
operating profit and free cashflow. It hiked its annual
dividend to 50 Canadian cents a share from 16 Canadian cents
previously.




The company said it lost C$56 million , or 9
Canadian cents a share, in the three months ended June 30. That
comes on a profit of C$279 million, or 44 Canadian cents, in
the same period a year earlier.


Read more at Reuters.com Market News

RPT-Overstock.com posts narrower quarterly loss

(Reuters) - The online retailer, which sells excess inventory, said its
second quarter net loss was $13.8 million, or 58 cents per
share, compared with a loss of $15.8 million, or 78 cents per
share in the year-earlier period.




Analysts had expected a loss of 64 cents per share,
according to Reuters Estimates.



Read more at Reuters.com Market News

UPDATE 1-LCA-Vision posts lower Q2 earnings, cuts 2007 view

(Reuters) - Shares of the provider of vision correction services, which
also cut its full-year 2007 earnings outlook, were down more
than 14 percent at $36.90 in morning trade on the Nasdaq.




Including the impact of deferred revenue, the company now
sees 2007 earnings of $1.90 to $2.00 a share, on revenue of
$308.0 million to $315.0 million. In May, it had forecast
earnings of $2.05 to $2.15 a share for the year.


Read more at Reuters.com Market News

UPDATE 1-Overstock.com shares soar on narrower Q2 loss

(Reuters) - Overstock, which sells excess product inventory, said its
second-quarter net loss was $13.8 million, or 58 cents per
share, compared with a loss of $15.8 million, or 78 cents per
share in the year-earlier period.




Analysts had expected a loss of 64 cents per share,
according to Reuters Estimates.


Read more at Reuters.com Market News

GM trounces 2nd-qtr estimates, shares surge

(Reuters) - By Jui Chakravorty



DETROIT, July 31 - General Motors Corp on Tuesday said it posted a quarterly profit that trounced Wall Street estimates as it benefited from cost-cutting and growing sales overseas, sending shares up as much as 6 percent.


Read more at Reuters.com Market News

ADP shares attractive for buybacks now-CEO

(Reuters) - NEW YORK, July 31 - Automatic Data Processing Inc. sees shares at their current price as attractive for buybacks, the company's chief executive told Reuters on Tuesday.



ADP prefers to buy shares over time instead of in big blocks, said CEO Gary Butler. "But at the current levels, I think you would continue to see ADP very active in terms of share repurchase," Butler said. ADP bought back 22 million shares in its fiscal fourth quarter, about half the shares it bought for the fiscal year.


Read more at Reuters.com Market News

UPDATE 2-Vornado second-quarter FFO rises

(Reuters) - Funds from operations, or FFO, a measure of REIT
performance that removes the effects of depreciation, increased
22 percent to $281.7 million, or $1.72 per diluted share, from
$230.4 million, or $1.49, a year earlier.




Analysts on average had expected FFO of $1.64 per share,
according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 2-Headwaters Q3 earnings soar, raises FY07 profit view

(Reuters) - The South Jordan, Utah-based company also raised its
full-year earnings outlook above analysts' estimates.




Shares of Headwaters, which makes building materials
products and alternative energy, were up nearly 13 percent in
late morning trade, making them one of the highest percentage
gainers on the New York Stock Exchange.


Read more at Reuters.com Market News

UPDATE 1-Saputo reports higher profit, increases dividend

(Reuters) - Saputo, one of North America's biggest cheese makers,
earned C$68.4 million , or 66 Canadian cents a
share, for the three months ended June 30. That was up from a
profit of C$53.3 million, or 51 Canadian cents a share, in the
same period a year earlier.




The company said its results included a one-time tax
reduction of about C$4 million to adjust future tax balances
due to lower Canadian federal tax rates.


Read more at Reuters.com Market News

London Boosts Foreign-Exchange Trading to Double New York's Level in April

(Bloomberg) -- London raised average daily currency
trading in April to more than double the level of New York,
extending its lead as the world's largest center for foreign
exchange, according to central bank surveys.

``London tends to dominate in this market,'' said Steven
Barrow, chief currency strategist at Bear Stearns International
Ltd. in London. ``I don't see why that should change.''


Read more at Bloomberg Currencies News

Oil Rises to One-Year High on Expectation of Stronger Demand From Refiners

(Bloomberg) -- Crude oil rose to a one-year high in
New York on speculation demand will outpace supply as refiners
increase fuel production in preparation for the winter months.

An Energy Department report tomorrow may show that U.S.
crude-oil supplies fell for a fourth week, according to a
Bloomberg News survey of analysts. Demand tends to rise as
refineries begin to make fuels for use in the fall and winter.
Bets on rising prices by hedge funds and other speculators rose
to a record earlier this month, according to government data.


Read more at Bloomberg Energy News

Amgen shares fall on anemia drug restrictions

(Reuters) - The ruling is less draconian in certain respects than CMS's draft proposal issued in May, but in other respects could be just as damaging to Aranesp sales, according to some analysts.




"The overall implications of the final decision are potentially worse than we anticipated with restrictions placed no only on initiation but on maintenance use of EPO for cancer as well," said Geoffrey Porges, an analyst at Sanford Bernstein.


Read more at Reuters.com Hot Stocks News

Copper Futures Rise Most in a Week in New York on Strike by Mexico Workers

(Bloomberg) -- Copper futures in New York jumped
the most in more than a week after Southern Copper Corp. workers
went on strike at three mines in Mexico.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc mines, a
union spokeswoman said yesterday. Copper has gained 10 percent
since May 30 as labor unrest hampered production in Latin
American countries.


Read more at Bloomberg Commodities News

RPT-US Midwest business grows more slowly in July

(Reuters) - The National Association of Purchasing Management-Chicago
business barometer fell to 53.4 from 60.2 in June. Economists
had forecast the index at 58.0. A reading above 50 indicates
expansion.




The employment component of the index jumped to 61.6 from
52.7 last month. Prices paid rose to 73.1 from 68.1 and new
orders dropped to 53.4 from 65.7.


Read more at Reuters.com Bonds News

UPDATE 1-Cost to insure GM bonds falls on profit news

(Reuters) - The cost to insure GM's bonds with credit default swaps
fell about 75 basis points to 615 basis points, which means it
costs $615,000 annually to protect $10 million of debt for five
years.




GM's 8.375 percent bonds maturing in 2033 rose almost 4
cents on the dollar to 85.19 cents, according to MarketAxess.


Read more at Reuters.com Bonds News

US STOCKS-Wall St. rises on data, GM earnings

(Reuters) - NEW YORK, July 31 - U.S. stocks climbed on
Tuesday after General Motors Corp. added to optimism
about corporate earnings and a key inflation indicator showed a
smaller-than-expected rise.




GM shares jumped 6 percent to $34.56 after the blue-chip
automaker swung to a profit in the second quarter and handily
topped Wall Street's expectations. For details, see
[ID:nN30442082].


Read more at Reuters.com Bonds News

UPDATE 1-RESEARCH ALERT-Bear Stearns cuts MGIC to peer perform

(Reuters) - Analyst David Hochstim, in a note to investors, estimated
the write-off of Credit-Based Asset Servicing and
Securitization LLC , MGIC's joint venture with Radian
Group Inc. , to generate a third-quarter loss of $3.30
per share for MGIC.




He said the write-down could limit MGIC's ability to
repurchase shares following the completion of its planned
merger with Radian, expected in a few months.


Read more at Reuters.com Bonds News

US STOCKS-Wall St trims gains, Nasdaq dips

(Reuters) - A rise in oil prices to a 12-month high also added to
nervousness.




The Dow Jones industrial average was up 47.63
points, or 0.36 percent, at 13,405.94. The Standard & Poor's
500 Index was up 3.33 points, or 0.23 percent, at
1,477.24. The Nasdaq Composite Index was up 0.06
points, or 0.00 percent, at 2,583.34.


Read more at Reuters.com Bonds News

S.Africa credit points to rate hike, trade gap up

(Reuters) - Demand for credit by South Africa's private sector grew at a faster pace in June, hardening the case for higher interest rates to curb spending, while a wider trade deficit pointed to continued pressure on the current account.

The Reserve Bank has raised its repo rate by 250 basis points to 9.5 percent since mid-2006 to tame inflation and robust consumer demand, but spending, driven by credit, remains high.


Read more at Reuters Africa

US SEC has hedge fund unit to fight insider trades

(Reuters) - The SEC recently adopted a rule that allows it to go after
hedge fund advisers who make false or misleading statements.




The $1.5 trillion hedge fund industry is being heavily
scrutinized after the high-profile collapse of Amaranth
Advisors LLC and well-publicized problems at two
Bear Stearns Cos hedge funds.


Read more at Reuters.com Government Filings News

Hilton Hotels earnings rise on higher rates

(Reuters) - Excluding one-time items, including a gain from the sale of
the Scandic hotel chain, the company said it posted
second-quarter earnings of 38 cents per share.




On July 3, Hilton agreed to be acquired by Blackstone for
$47.50 a share in cash, or about $20 billion, in what would be
the largest private equity buyout of a hotel company.



Read more at Reuters.com Mergers News