Dollar steady, stays off record low vs euro

(Reuters) - But ongoing worries that problems in the U.S. mortgage market may bleed into the broader economy continued to resonate, keeping investors from aggressively selling the low-yielding yen for assets in higher-yielding currencies in risky carry trades.




"Until now, the story has revolved around dollar weakness, yen weakness and euro strength," said Hideaki Inoue, forex manager at Mitsubishi UFJ Trust and Banking.


Read more at Reuters.com Hot Stocks News

Terex 2nd-qtr profit rises on higher sales

(Reuters) - Analysts, on average, had expected the Westport,
Connecticut-based company to report a profit of $1.62 a share,
according to Reuters Estimates.




Read more at Reuters.com Market News

China, India, Indonesia, Philippines, Singapore: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The nation will wait ``some time'' before raising
power prices, Cao Changqing, head of the National Development
and Reform Commission's pricing department, said yesterday.
Power utilities have asked the government to raise electricity
charges as costs climb, Xie Juchen, an official at State Grid
Corp., said yesterday. The government controls electricity
prices to limit their impact on inflation, which rose by the
most in 33 months in June.


Read more at Bloomberg Bonds News

UPDATE 1-Graco second-quarter earnings rise

(Reuters) - The company posted second-quarter earnings of $44.2
million, or 66 cents a share, compared with $41.3 million, or
60 cents a share, a year ago.




Sales rose 6 percent to $231.4 million.


Read more at Reuters.com Market News

Harmonic to acquire Rhozet for $15.5 mln

(Reuters) - Rhozet offers software-based universal transcoding services
that facilitate the creation of multi-format video for
Internet, mobile and broadcast applications.





Read more at Reuters.com Mergers News

UPDATE 1-Tractor Supply 2nd-qtr earnings rise

(Reuters) - The company reported second-quarter earnings of $43.8
million, or $1.08 a share, compared with $42.9 million, or
$1.05 a share, a year ago.




Quarterly net sales rose 10.6 percent to $790.9 million,
the company said in a statement.


Read more at Reuters.com Market News

Mexico sees 2008 budget boosting tax take

(Reuters) - Finance Minister Agustin Carstens said Mexico needs to
increase its tax take so that it can fight poverty and improve
its infrastructure, making its economy more competitive.




Carstens also said the government needs to be more
transparent and efficient in how it spends tax payers' money.


Read more at Reuters.com Bonds News

US STOCKS-Indexes gain on profits, energy; Apple up late

(Reuters) - NEW YORK, July 25 - U.S. stocks rose in volatile
trading on Wednesday as a 3 percent rise in oil prices lifted
energy shares while strong profits from Boeing Co.
countered market concerns about merger financing.




Boeing shares jumped to a record high and led advancers on
the Dow, while Internet retailer Amazon.com Inc. paced
the Nasdaq with a 24-percent rise after tripling its profit.


Read more at Reuters.com Bonds News

Boston Properties files for $752.7 mln mixed shelf

(Reuters) - Boston Properties will use the proceeds from the offering
for general corporate or partnership purposes, including the
funding of development opportunities, asset acquisitions or the
repayment of indebtedness.




Under a shelf registration, a company may sell securities
in one or more separate offerings with the size, price and
terms to be determined at the time of sale.


Read more at Reuters.com Government Filings News

Chrysler buyout loan delayed but deal said on track

(Reuters) - DaimlerChrysler and Cerberus Capital Management, Chrysler's intended buyer, both said they were confident the landmark buyout would close as planned in this quarter.




Market sources told Reuters Loan Pricing Corp. that underwriters remained committed to providing the needed financing for the deal, which marks the first time that a buyout firm has taken over a major U.S. automaker.


Read more at Reuters.com Mergers News

Tractor Supply 2nd-qtr earnings rise

(Reuters) - Quarterly net sales rose 10.6 percent to $790.9 million,
the company said in a statement.





Read more at Reuters.com Market News

UPDATE 1-Varian Medical's quarterly net profit falls

(Reuters) - The Palo Alto, California-based provider of software and
equipment for cancer clinics posted fiscal third-quarter net
income of $50.3 million, or 39 cents per share, down from net
income of $65.7 million, or 49 cents per share, in the year-ago
quarter ended June.




Excluding share-based compensation expense and the impact
of the repatriation of foreign earnings, per share profit fell
to 44 cents from 46 cents a year ago.


Read more at Reuters.com Market News

UPDATE 1-Zimmer Holdings profit rises 14 percent

(Reuters) - The maker of artificial hips and knees said second-quarter
net income rose to $232 million, or 97 cents a share, from $201
million, or 81 cents a share, a year ago.




Excluding special items, the company earned 98 cents per
share, matching the average forecast among analysts polled by
Reuters Estimates.


Read more at Reuters.com Market News

Orange Juice Rises on Speculation Disease, Storms May Trim Florida's Crop

(Bloomberg) -- Orange-juice futures in New York rose
on speculation diseases and storms may reduce the harvest in
Florida, the world's second-biggest producer.

``Citrus greening,'' which shrinks fruit, ruins flavor and
kills trees, was confirmed last week to have spread to Hardee
County, one of the state's largest growing regions and the 24th
county in which the disease has been found. Florida's output fell
to a 17-year low in the most recent harvest as groves were slow
to recover from hurricane damage and a disease called ``canker.''


Read more at Bloomberg Commodities News

Akamai second-quarter profit, revenue rise

(Reuters) - Revenue rose 52 percent year-over-year to $152.7 million,
it said.




Akamai helps customers, including Apple and other
businesses, deliver graphics, video and music to users
efficiently by finding less congested routes over the Web.


Read more at Reuters.com Market News

Qualcomm posts higher quarterly profit, revenue

(Reuters) - Excluding its investment arm, Qualcomm said it earned 55 cents per share. Analysts on average had expected 51 cents per share, according to Reuters Estimates.




Revenue rose to $2.33 billion from $1.95 billion a year ago and compared with analyst revenue estimates of $2.26 billion.


Read more at Reuters.com Business News

Emerging debt-Argentina leads market lower for 2nd day

(Reuters) - Argentina's spreads over U.S. Treasury notes, a key gauge
of risk aversion, hit their widest in 13 months, while overall
emerging markets spreads were at their widest since early
December.




Concerns about the impact of the U.S. subprime crisis in
other markets increased after the turmoil forced Chrysler Group
and Alliance Boots to postpone more than $20 billion in
loans needed to finance leveraged buyouts.


Read more at Reuters.com Bonds News

U.S. Stocks Advance on Earnings; Amazon, Boeing, Exxon Shares Lead Gains

(Bloomberg) -- U.S. stocks rebounded from the
worst drop in four months after profits at Amazon.com Inc. and
Boeing Co. topped analysts' estimates and a jump in oil prices
boosted earnings prospects for energy companies.

Amazon.com, the world's biggest online retailer, rallied
to a seven-year high on rising sales of electronics and
jewelry. Boeing, the second-largest commercial-jet maker,
climbed to a record after it said aircraft deliveries gained.
Exxon Mobil Corp., the biggest oil producer, jumped the most in
two weeks.


Read more at Bloomberg Stocks News

Oil Rises Most in Nine Weeks After Data Show Decline in U.S. Inventories

(Bloomberg) -- Crude oil rose the most in more than
nine weeks in New York after the U.S. government reported a third
straight weekly decline in oil inventories and increased refinery
operations.

A gain in oil processing by refineries helped reduce U.S.
supplies by 1.1 million barrels to 351 million barrels last week,
the Energy Department report showed. Inventories in Cushing,
Oklahoma, the main supply hub in the U.S., fell 1.38 million
barrels to 212.4 million barrels, the lowest since February 2006.


Read more at Bloomberg Commodities News

KKR's Banks Stuck With $10 Billion of Boots LBO Loans as Debt Sale Fails

(Bloomberg) -- Deutsche Bank AG, JPMorgan Chase &
Co. and six more banks are stuck with 5 billion pounds ($10
billion) of loans for Kohlberg Kravis Roberts & Co.'s purchase of
Alliance Boots Plc.

The banks will keep the senior loans after failing to find
investors to buy them, said four people with direct knowledge of
the deal, who declined to be identified because the information
is private. The banks will sell 1.75 billion pounds of junior
ranking loans, after increasing the interest rate and using their
underwriting fees to discount the price by as much as 5 percent.


Read more at Bloomberg Bonds News

US STOCKS-Indexes dip on credit worries, oil's rise

(Reuters) - NEW YORK, July 25 - U.S. stocks edged lower in a
seesaw session on Wednesday as concerns about financing for
deals and a sharp rise oil prices offset strong profits from
Boeing Co. and Amazon.com Inc. .




Aircraft manufacturer Boeing's shares jumped to a record as
the stock led advances on the Dow, while Internet retailer
Amazon.com shares climbed to a 7 1/2-year high, up more than 24
percent.


Read more at Reuters.com Bonds News

Siemens to buy Dade, fuels hopes for Beckman bid

(Reuters) - Shares of Beckman Coulter, the last major stand-alone company in the sector, rose as much as 11.6 percent.




Dade's deal with German industrial conglomerate Siemens is worth $77 per share, a 38 percent premium over Tuesday's closing price.


Read more at Reuters.com Business News

GE issues credit card aimed to cut emissions

(Reuters) - In voluntary emissions markets, consumers who feel guilty about their greenhouse emissions can buy offsets, or credits, designed to represent emissions reductions that took place somewhere else, like a solar or wind power farm.




"Earth Rewards cardholders will now have a new tool to complement the ways they are already reducing their emissions," Tom Gentile, an executive at GE Money said in a release. "They can turn everyday purchases into extraordinary rewards."


Read more at Reuters.com Bonds News

CORRECTED - UPDATE 1-MBIA independent review finds no wrongdoing

(Reuters) - NEW YORK, July 25 - MBIA Inc , the world's
largest bond insurer, said an independent consultant it hired
as part of a $75 million regulatory settlement concluded that
its accounting and disclosure procedures are sound, and cleared
it of wrongdoing related to two transactions.




Shares of MBIA rose more than 5 percent within five minutes
of the company's announcement of the findings on Wednesday,
before falling back.


Read more at Reuters.com Bonds News

Nestle, Unilever face new Italy antitrust action

(Reuters) - Privately owned Mars may use the ruling by Italy's highest
administrative court earlier this month to relaunch an antitrust
case against them, Satta said.




A spokeswoman for the antitrust body said, however, the
ruling would not necessarily force a reopening of the case,
leaving all involved to wait for the court to publish the
reasoning for its decision, probably in September.


Read more at Reuters.com Government Filings News

UPDATE 1-Applied Biosystems posts higher Q4 profit

(Reuters) - The company, however, warned that the first-quarter revenue
growth rate could be lower than the full year due to the
stronger sales growth witnessed in the first quarter of the
previous year.




First-quarter earnings are expected to be modestly higher
than the 29 cents a share reported in the prior year, the
company said in a statement. Analysts on average were expecting
33 cents a share, excluding items, according to Reuters
Estimates.


Read more at Reuters.com Market News

Snap-on shares up after profit beats Wall St view

(Reuters) - "The results were way above everybody's estimates," said Barrington Research analyst Alex Paris, who upgraded Snap-on to "outperform" on Tuesday's results.




He attributed the stock's sharp short-term bounce to the perennial search for a solid beat: "Everybody's looking for positive surprises -- that's traders."


Read more at Reuters.com Hot Stocks News

Gold Futures Drop From 11-Week High as U.S. Dollar Rallies; Silver Falls

(Bloomberg) -- Gold fell from an 11-week high in
New York as the dollar gained the most against the euro in almost
five months, eroding the metal's appeal as an alternative
investment. Silver also fell.

Gold often moves in the opposite direction of the U.S.
currency, which gained after U.S. stocks rebounded from a slump
yesterday. Before today, gold had gained 7.3 percent this year as
the dollar slumped 4.5 percent against the euro.


Read more at Bloomberg Commodities News

Rand loses ground as dollar bounces back

(Reuters) - South Africa's rand weakened against the dollar on Wednesday as the greenback clawed back ground across the board on overseas markets, with a rating upgrade by Fitch only briefly boosting the domestic unit.

At 1520 GMT the rand was trading at 6.8980 versus the dollar, down O.43 percent from New York's Tuesday close of 6.8688 and reversing some of the strong gains which saw it touch fresh 11-month highs at the start of the week.


Read more at Reuters Africa

Brazil's Bovespa Falls, Led by Vale do Rio Doce, on U.S. Housing Slump

(Bloomberg) -- Brazil's main stock index fell for a
second day, led by mining company Cia. Vale do Rio Doce, after
weaker-than-expected U.S. home sales heightened concern the housing
slump will slow demand for Brazilian raw materials.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 1,032.30, or 1.9 percent, to 54,762.27, extending
yesterday's 3.9 percent loss.


Read more at Bloomberg Stocks News

UPDATE 2-Business Objects shares shine on Q2, outlook

(Reuters) - PARIS/SAN FRANCISCO, July 25 - Shares in Business
Objects shot up 10 percent on Wednesday as
the Franco-U.S. software company produced forecast-beating
second-quarter earnings and raised its full year outlook.




Business Objects, whose software helps companies find
marketing patterns in databases, said quarterly profit almost
tripled, citing the impact of recent acquisitions and demand in
Europe and Asia.


Read more at Reuters.com Mergers News

Cerberus says Chrysler buyout remains on track

(Reuters) - The comments came after bankers on Wednesday were forced to
postpone a $12 billion syndicated loan needed to finance the
deal.




DaimlerChrysler said earlier it remained
confident the sale would close in the current quarter.


Read more at Reuters.com Mergers News

UPDATE 1-Parametric profit rises with tax benefits

(Reuters) - It reported fiscal third-quarter net income of $87.2
million, or 74 cents a share, compared with $16.9 million, or
15 cents a share, a year earlier.




The 2007 quarter results included tax-related benefits. On
an operating basis, profit was $19.8 million for the third
quarter compared with $13.5 million a year ago.


Read more at Reuters.com Market News

UPDATE 1-Convergys posts lower quarterly profit; stock down

(Reuters) - Earnings fell to $38.8 million, or 28 cents per share, from
$39.8 million, or 28 cents per share, a year earlier.




Revenue rose 2 percent to $707 million.


Read more at Reuters.com Market News

UPDATE 2-Ecuador replaces economy minister after scandal

(Reuters) - QUITO, July 25 - Ecuador's leftist President
Rafael Correa replaced his hard-line economy minister with a
moderate less than two weeks after Congress censured him in a
scandal involving charges of debt market manipulation.




Deputy Economy Minister Fausto Ortiz told Reuters on
Wednesday he will take over from minister Ricardo Patino, who
had in concert with the president long threatened to suspend
foreign debt payments deemed illegitimate"


Read more at Reuters.com Bonds News

UPDATE 1-Diebold to delay Q2 results

(Reuters) - Diebold said it is looking for guidance from regulators
about whether it properly booked revenue for "bill and hold"
transactions, in which a company records a sale and gives
ownership of the product to the customer, but actual delivery
takes place in a later period.




Questions about the company's use of "bill and hold" arose
during a U.S. Securities and Exchange Commission investigation
into the company's revenue recognition policies, Diebold said.
That probe was first announced last year.


Read more at Reuters.com Government Filings News

New York Times quarterly profit rises

(Reuters) - Excluding special items, the company reported earnings of 34 cents a share from continuing operations, down from 37 cents in the quarter a year ago.




Analysts were looking for earnings before special items of 31 cents per share, according to Reuters Estimates. It was not immediately clear whether the figures were comparable.


Read more at Reuters.com Business News

Kimberly-Clark to sell $2.1 bln debt in 3 parts

(Reuters) - The joint lead managers on the Citigroup Global Markets and
Lehman Brothers.




Read more at Reuters.com Bonds News

Buyout volumes up despite credit blowout

(Reuters) - Buyout volume has nearly doubled year-over-year since credit fears started to emerge, reaching $184 billion globally from June 18 through July 24 from $98 billion in the same period in 2006, according to research firm Dealogic.




Meanwhile, European high-yield credit spreads as measured by the iTraxx Crossover index have nearly doubled and over 25 loan and bond financings have been put on ice.


Read more at Reuters.com Mergers News

UPDATE 1-Britain gives go-ahead for two aircraft carriers

(Reuters) - The Ministry of Defence announcement also clears the way for
an expected merger of operations at Britain's two largest
shipbuilders, BAE Systems and VT Group .




The aircraft carriers will be equipped with F-35 Joint
Strike Fighter combat jets being built by Lockheed Martin Corp
. They are due to enter service in 2014 and 2016, against
original expectations of about 2012 and 2015.


Read more at Reuters.com Mergers News

Crude Oil Trades Little Changed on Signs U.S. Supplies of Fuel Are Rising

(Bloomberg) -- Crude oil rose in New York before the
release of a U.S. government report that will probably show
declines in the country's gasoline and oil inventories.

U.S. gasoline supplies probably fell 125,000 barrels last
week while oil inventories declined 1.38 million barrels,
according to the median of 16 estimates in a Bloomberg News
survey of analysts. The Energy Department report is scheduled to
be released today at 10:30 a.m. in Washington.


Read more at Bloomberg Energy News

UPDATE 2-MTU Aero ups profit forecast amid airline boom

(Reuters) - FRANKFURT, July 25 - Germany's MTU Aero Engines
reported solid second-quarter underlying core
earnings on Wednesday and raised its 2007 profit forecast as
airlines ramped up investments amid an industry upswing.




"We expect our year-end results for 2007 to reflect this
continued growth trend, with significant contributions from the
series production of commercial engines and spare part sales,"
Chief Executive Udo Stark said in a statement.


Read more at Reuters.com Market News

Nova Chemicals second-quarter profit soars

(Reuters) - The company, Canada's biggest manufacturer of raw plastics,
said profit in the quarter was $80 million, or 96 cents a
share, up from $44 million, or 53 cents a share, in the
year-earlier quarter.







Read more at Reuters.com Market News

UPDATE 1-Celera posts wider 4th-quarter loss

(Reuters) - The company, a unit of Applera Corp., reported a net loss
of $7.8 million, or 10 cents a share, compared with a loss of
$5.3 million, or 7 cents a share, a year ago.




The latest-quarter results included pre-tax restructuring
charges of $3.8 million and $0.5 million of employee-related,
primarily severance, costs. The year-ago results included $5.3
million of restructuring costs before tax.


Read more at Reuters.com Market News

San Francisco, Alabama Lead Muni Borrowers With Sales for Rails, New Plant

(Bloomberg) -- Houston, Alabama and the San
Francisco Bay Area Rapid Transit District plan to borrow a total
of more than $1 billion in the largest scheduled offerings of
U.S. tax-exempt bonds today.

The San Francisco area agency is selling debt to pay for
work designed to prepare its rail network to withstand a
magnitude-8 earthquake on the San Andreas fault, and the city of
Houston will offer bonds to replace existing airport debt with
higher interest costs. Alabama is auctioning bonds among
investment banks to fund economic incentives for German
steelmaker ThyssenKrupp AG's new plant in the state.


Read more at Bloomberg Bonds News

Kenya 1st qtr economic growth 6.3 pct - government official

(Reuters) - Kenya's economy grew 6.3 percent in the first quarter of 2007, up from 6.1 percent for the whole of last year, according to statistics to be published soon, a senior government official said on Wednesday.

The government is keen to capitalise on improved economic performance in the east African nation as it seeks re-election at polls in December, boosted by a central bank projection of 8 percent growth by 2008.


Read more at Reuters Africa

Platinum Falls Ahead of South African Mining Wage Talks; Palladium Drops

(Bloomberg) -- Platinum fell in London for a third
consecutive day on speculation pay talks at Anglo Platinum Ltd.,
the world's largest producer of the metal, may lead to an
accord. Palladium declined.

Anglo Platinum, accounting for 53 percent of South Africa's
production of the metal last year, may make an improved pay
offer at tomorrow's meeting, the National Union of Mineworkers
said last week. Platinum has climbed 3.5 percent this month amid
pay talks between South African mining companies and unions.


Read more at Bloomberg Commodities News

Ashland Inc. third-quarter profit climbs

(Reuters) - The company also said income from continuing operations
rose to $1.35 a share, from 59 cents a share a year ago.





Read more at Reuters.com Market News

Tribune quarterly profit, revenue fall

(Reuters) - Second-quarter net income declined to $36.3 million, or 18 cents a share, from $87.8 million, or 28 cents a share, a year earlier.




Tribune earned 17 cents a share from continuing operations, including a charge of 8 cents a share for cutting 450 publishing and corporate jobs, 7 cents a share for writing off Los Angeles Times plant equipment and a net non-operating loss of 15 cents a share.


Read more at Reuters.com Bonds News

Euro Declines Most Against Dollar in Five Months on Weak Stocks, Earnings

(Bloomberg) -- The euro fell the most against the
dollar in almost five months on speculation worsening subprime
mortgage losses in the U.S. will hurt European banks and as
stocks in the region slumped on weaker earnings.

The common currency also slid to a one-month low versus the
yen after national stock benchmarks declined in all 18 western
European markets. The yen was buoyed against the euro as sliding
equities prompted investors to unwind so-called carry trades,
where they borrow in Japan to buy higher yielding assets.


Read more at Bloomberg Currencies News