Australia's S&P/ASX 200 Slumps on U.S. Hosung Concerns; BHP, Banks Slide

(Bloomberg) -- Australian stocks dropped for a third
day on concern a worsening U.S. housing slump will slow economic
growth in the world's biggest economy and prompt investors to shun
equities. James Hardie Industries NV and BHP Billiton Ltd. fell.

The S&P/ASX 200 declined 161.3, or 2.6 percent, to 6,097.2 at
10:15 a.m. in Sydney. Only three of the index's 201 members
advanced. It dropped 1.6 percent in the past two days and is set
to decline 5.2 percent this week.


Read more at Bloomberg Stocks News

PerkinElmer 2nd-quarter profit rises

(Reuters) - Excluding items, the company had adjusted earnings of 30
cents per share. Analysts on average expected 28 cents per
share, according to Reuters Estimates.





Read more at Reuters.com Market News

Western Digital net rises on tax benefit

(Reuters) - Analysts, on average, had forecast earnings per share of 36
cents and revenue of $1.33 billion, according to Reuters
Estimates. Western Digital, the second-biggest disk-drive maker
after Seagate Technology , agreed in June to buy
competitor Komag Inc. for about $1 billion.




Read more at Reuters.com Market News

Republic Services 2nd-qtr earnings rise

(Reuters) - Revenue grew to $808.4 million from $779.8 million.




Analysts, on average, expected Fort Lauderdale,
Florida-based Republic to earn 39 cents per share, according to
Reuters Estimates.



Read more at Reuters.com Market News

Smurfit-Stone's second-quarter net loss narrows

(Reuters) - LOS ANGELES, Nov 14 - Abercrombie & Fitch said on Tuesday that quarterly net profit rose, helped by a 22 percent increase in sales of its trendy clothing.



The specialty retailer, whose casual apparel is popular with teens, posted net income in its third quarter of $102.0 million, or $1.11 per share, compared with $71.6 million, or 79 cents per share, a year earlier.


Read more at Reuters.com Market News

UPDATE 1-MDA quarterly profit declines as costs rise

(Reuters) - MDA, which sells real-estate data, develops space robotics
and provides satellite services, said it earned C$19.8 million
, or 45 Canadian cents a share, in the three
months ended June 30. That was down from a profit of C$20.8
million, or 48 Canadian cents a share, in the same period a
year earlier.




Consolidated revenues rose 29 percent to C$312 million, led
by its information products segment, the company said. Expenses
jumped to C$280 million from C$205.9 million a year earlier.


Read more at Reuters.com Market News

Curtiss-Wright Q2 earnings flat

(Reuters) - Net sales rose 18 percent to $365.6 million.




For the latest second quarter, analysts on average expected
the company to earn 48 cents a share, excluding items, on
revenue of $339.5 million, according to Reuters Estimates.



Read more at Reuters.com Market News

UPDATE 2-Deckers Outdoor quarterly earnings beat forecast

(Reuters) - The company also said it may have to restate past and
current financial results to correct for the underpayment of
taxes of some foreign units in certain countries.




Deckers said it currently believes that interest and
penalties related to the underpayment owed could range from
$3.3 million to $15.4 million.


Read more at Reuters.com Market News

Foundry Networks quarterly profit rises

(Reuters) - Revenue rose to $143.2 million from $108.4 million in the
year-ago period.





Read more at Reuters.com Market News

Sony, Ricoh, Canon, Nikko, Promise, Fujitsu, Yamada; Japan Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Canon Inc. (7751 JT): The world's biggest maker of digital
cameras said second-quarter profit rose 17 percent as a weaker
yen increased the value of earnings from digital cameras and
multifunction photocopiers. Net income climbed to 123.9 billion
yen ($1 billion) in the three months ended June 30, from 105.9
billion yen a year earlier, the company said. The stock lost 160
yen, or 2.3 percent, to 6,890.


Read more at Bloomberg Stocks News

Regulators fine natgas market manipulaters

(Reuters) - In its first enforcement action using new authority provided by Congress, the Federal Energy Regulatory Commission says it will seek $458 million in penalties and the return of unjust profits from the two companies.




In the bigger case, FERC charged Amaranth Advisors, a collapsed hedge fund, its former head trader, Brian Hunter, and fellow trader Matthew Donohoe with manipulating natural gas prices last year and called for $291 million in penalties. The Commodity Futures Trading Commission filed similar charges on Wednesday, though it did not specify any fines or penalties.


Read more at Reuters.com Business News

Microsoft CEO defends move beyond desktop

(Reuters) - Speaking on Thursday at an annual meeting with financial analysts, Ballmer acknowledged he had been "hammered" by investors who argued Microsoft should focus on its core desktop and server software business and forget businesses like digital music players and video games.




Microsoft aims to make software that integrates the best features of desktop software, higher-end corporate software, Web services and devices, and it needs to be in all of those areas to keep up with the pace of innovation, Ballmer said.


Read more at Reuters.com Business News

Mexican stocks, peso fall on U.S. economy worries

(Reuters) - The IPC index of leading shares slumped to 30,482
points and the peso dropped 0.74 percent to 10.950 per dollar.




U.S. existing-home sales fell more than expected in June,
increasing worries this week about U.S. economic growth. The
United States buys nearly 90 percent of Mexican exports.


Read more at Reuters.com Bonds News

U.S. 30-, 15-year mortgage rates lower in latest week

(Reuters) - "Mortgage rates eased this week on market concerns that a
further weakening of housing demand this spring will delay any
recovery in the sector," said Frank Nothaft, Freddie Mac vice
president and chief economist, in a statement.




"Several factors contributed to the softening in housing
markets this spring. In addition to the tightening of lending
standards earlier this year, especially on subprime loans, the
40-basis-point jump in rates on 30-year fixed-rate mortgages in
June may have deterred potential buyers," Nothaft said.


Read more at Reuters.com Bonds News

WRAPUP 3-US new home sales fall, durable goods orders weak

(Reuters) - WASHINGTON, July 26 - Sales of new U.S. homes
dropped more than expected in June, while orders for
long-lasting U.S.-made goods were weaker than analysts
forecast, according to reports on Thursday that raised fresh
concerns about the economy.




Major U.S. stock indexes slid more than two percent in
afternoon trade on signs of further deterioration in the U.S.
housing market, a jump in oil prices and a worsening climate
for financing corporate takeovers. That caused the New York
Stock Exchange to impose curbs on computer program trading.


Read more at Reuters.com Bonds News

Colombia says tourism growing despite war risks

(Reuters) - Urban crime rates have plummeted and highways are safer under President Alvaro Uribe, who won re-election last year based on his U.S.-backed fight against drug-running Marxist rebels.




"The paradox of Colombia is that we have good urban security and good tourism infrastructure while the rural areas are crowded with rebels, paramilitaries and drug smugglers," said Pablo Casas, an analyst at Bogota think tank Security and Democracy.


Read more at Reuters.com Bonds News

US Treasury sees no breakthrough from China visit

(Reuters) - "The SED is strategic, it's economic and the 'D' in SED is
dialogue. We want to be able to achieve tangible results from
that dialogue, but the 'D' in SED doesn't stand for
deliverable," Holmer said.




Read more at Reuters.com Bonds News

UPDATE 2-US Treasury's Paulson plays down market volatility

(Reuters) - "We're always going to have volatility," Paulson told
Bloomberg Television. "What we see going on right now is risk
being repriced and as we get a broad reassessment of risk we're
getting volatility."




Global stock markets
fell sharply on Thursday as investors fled risky assets for
safe havens while tightening credit markets threatened to make
it increasingly difficult to finance corporate deals, and the
dollar fell sharply against the yen .


Read more at Reuters.com Bonds News

US STOCKS-Wall St indexes plunge on housing, credit fears

(Reuters) - NEW YORK, July 26 - U.S. stocks plummeted on
Thursday, with the Dow industrials tumbling more than 300
points, on signs of further weakness in the housing market and
deteriorating conditions for corporate buyouts.




The S&P shed about $300 billion in market value in the
worst single session since the Feb. 27 global market sell-off,
with surprisingly weak earnings reports also weighing on
stocks. Even with the sharp decline, the Dow and S&P 500 are
within 5 percent of their respective record highs.


Read more at Reuters.com Bonds News

Nymex Gas Rises on Expectations of Possible Disruptions From Hurricanes

(Bloomberg) -- Natural gas in New York advanced as
traders ignored burgeoning inventories, focusing instead on
arrival of the most intense two months of the hurricane season.

``The bulls last rallying cry is hurricanes, we're in the
peak of the season, so it's `we'll wait for a hurricane,''' said
Kyle Cooper, director of research at IAF Advisors in Houston.


Read more at Bloomberg Energy News

KKR should pull its IPO: analysts

(Reuters) - The credit spigot that fed the borrowing frenzy by private equity deal makers has essentially been turned off for now, as investors put the brakes on purchasing debt from buyout financings with heavy leverage and loose lending terms.




That pullback has cast a chill across the private equity sector, causing delays in the major leveraged buyout financings of automaker Chrysler Corp and retailer Alliance Boots . The financing delays and sell-off in private equity stocks leave KKR facing a tough climate.


Read more at Reuters.com Mergers News

UPDATE 3-Bunge profit soars, Chinese venture formed

(Reuters) - The oilseeds processor and fertilizer maker also said it
formed a joint venture with Sinograin, the Chinese state-owned
grain company, to build and operate a soybean processing plant
in Dongguan, China.




Bunge expects solid agribusiness and fertilizer market
conditions for the rest of the year.


Read more at Reuters.com Mergers News

UPDATE 1-Valeo 2nd-qtr operating income misses estimates

(Reuters) - PARIS, July 26 - French car parts group Valeo
, which broke off private equity buy-out talks earlier
this month, on Thursday reported that quarterly operating
income rose, but still missed expectations.




The firm posted second-quarter operating income of 90
million, up from 79 million in the first quarter, but below the
average target of 94.2 million euros, according to a survey of
six analysts by Reuters Estimates.


Read more at Reuters.com Market News

Janus second-quarter profit rises

(Reuters) - Net income rose to $48.8 million, or 27 cents a share, from $31.1 million, or 15 cents per share, a year earlier.






Read more at Reuters.com Market News

UPADTE 1-Asbury profit up despite weak retail sales

(Reuters) - The sixth-largest U.S. auto retailer by new vehicle sales
said second-quarter profit increased to $20.6 million, or 62
cents per share, from $19 million, or 56 cents per share, a
year earlier.




Total revenue stayed roughly flat at about $1.5 billion.


Read more at Reuters.com Market News

Build-A-Bear Workshop Q2 profit slumps

(Reuters) - July 26 - Stuffed-animals retailer Build-A-Bear Workshop Inc. on Thursday reported a 47 percent drop in quarterly profit, as sales fell at stores open at least a year and costs rose as it expanded in Montreal and Puerto Rico.



The St. Louis, Missouri-based company appointed Lehman Brothers in June to look at a range of strategic alternatives and said then it would not provide any earnings outlooks while the review was underway.


Read more at Reuters.com Market News

Hanesbrands profit better than expected, shrs rise

(Reuters) - NEW YORK, July 26 - Hanesbrands Inc. reported a better-than-expected profit on Thursday, as cost controls helped boost margins, sending the underwear manufacturer's shares up 15 percent.



The maker of the Wonderbra and Champion T-shirts said net profit in the second quarter was $25.4 million, or 26 cents per share, down sharply from $59.3 million, or 62 cents per share, in the year-earlier period, before it was spun off from Sara Lee .


Read more at Reuters.com Market News

CORRECTED-UST reports higher quarterly profit

(Reuters) - Net income for the second quarter rose to $139.9 million,
or 87 cents per diluted share, compared with $134.6 million, or
83 cents, a year earlier.





Read more at Reuters.com Market News

UPDATE 3-Southern Co. 2nd-quarter earnings rise 11 percent

(Reuters) - "Earnings were bolstered by continued economic growth and
attractive weather," Chief Financial Office Tom Fanning told
Reuters. In the quarter, weather in the region was slightly
warmer than normal, helping drive up electricity usage for air
conditioning.




Rate increases in Alabama and Mississippi to pay for
environmental and infrastructure upgrades also benefited
results, Fanning said.


Read more at Reuters.com Market News

UPDATE 1-Havas H1 underlying sales growth 4.4 pct

(Reuters) - This beat the 1.6 percent achieved by larger domestic rival
Publicis .




Havas, whose chairman and top shareholder Vincent Bollore
has built a 29.1 percent stake in British rival Aegis ,
said the first-half performance showed that Havas was on the
road to recovery.


Read more at Reuters.com Market News

UPDATE 2-Coal miner Consol's 2nd-quarter profit rises

(Reuters) - NEW YORK, July 26 - Coal miner Consol Energy Inc
said on Thursday its second-quarter profit rose nearly
40 percent, boosted by coal prices that are up as a result of
strategic production cuts at Appalachian mines.




But power plant coal inventories are still higher than it
would like to see and one of its main mines is expected to be
closed for about two months after several roof falls.


Read more at Reuters.com Market News

Insight Enterprises says to take charges to retained earnings

(Reuters) - In April, Insight Enterprises had said it expected to
restate results to fix errors related to how it accounted for
stock-based compensation.





Read more at Reuters.com Government Filings News

Dollar falls after US new home sales below forecast

(Reuters) - The dollar fell on Thursday, dropping to near 3-month lows against the yen, after June U.S. new home sales were below expectations.

The dollar fell against the yen to around 119.13 yen from 119.35 yen, where it was shortly prior to the data.


Read more at Reuters Africa

Rand, bonds dive in emerging market sell-off

(Reuters) - South Africa's rand fell sharply on Thursday, caught up in a battering of global equities and emerging market currencies.

The local unit was trading at 7.0350 at 1530 GMT, a fall of 2.2 percent from its close in New York of 6.8825, but just off the session trough of 7.04 -- a two-week low.


Read more at Reuters Africa

UPDATE 1-Cadbury US drinks sale value in question -source

(Reuters) - LONDON, July 26 - Britain's Cadbury Schweppes
is unsure of the value of bids it will receive for its
U.S. drinks arm as a result of turbulent debt markets, a source
familiar with the matter said on Thursday.




The auction will test to what extent the recent turbulence
in debt markets has reduced the ability of buyout firms to offer
compelling terms, the source said.


Read more at Reuters.com Mergers News

CORRECTED - CORRECTED-Navigant posts lower quarterly earnings

(Reuters) - Navigant reported a second-quarter net profit of $11.4
million, or 21 cents a share, compared with $14 million, or 26
cents a share, last year. For the latest second quarter,
analysts expected earnings of 25 cents a share, before items,
according to Reuters Estimates.





Read more at Reuters.com Mergers News

Gold Falls on Concern Metal, Commodity Demand May Falter; Silver Drops

(Bloomberg) -- Gold fell from a three-month high in
New York along with other metals on concern U.S. subprime
mortgage losses will deepen and reduce demand for commodities.
Silver also fell.

The Reuters Jefferies CRB Index of 19 commodities has
declined 1.8 percent to 320.86 from a 10-month high of 326.84 on
July 20. Copper today dropped for a fourth-straight session on
concern that an economic slowdown in the U.S., the second-
largest consumer of the metal, will curb demand.


Read more at Bloomberg Commodities News

ICE profit rises on futures volume growth

(Reuters) - The electronic energy market and soft commodity exchange reported second-quarter net income of $53.7 million, or 75 cents per share, compared with $31 million, or 52 cents per share, a year earlier.




The results include $7 million in after-tax costs from ICE's failed takeover offer for the Chicago Board of Trade. ICE was engaged until recently in a bidding war with the Chicago Mercantile Exchange to acquire CBOT.


Read more at Reuters.com Business News

Things go from bad to worse for US home builders

(Reuters) - The grim tidings about the industry dragged down both the housing and construction sectors, as well as the broader stock market.




"Overall, the market for new homes stinks ... liquidity is getting sucked out of the system," said Alex Vallecillo, senior portfolio analyst with Allegiant Asset Management, which has $30 billion in total assets under management. "Mortgages are going to be tougher to come by, more expensive. The buyers are basically drying up."


Read more at Reuters.com Business News

WRAPUP 2-US new home sales fall, durable goods orders weak

(Reuters) - WASHINGTON, July 26 - Sales of new U.S. homes
dropped more than expected in June, while orders for
long-lasting U.S.-made goods were weaker than analysts thought,
according to reports on Thursday that raised fresh concerns
about economy.




Major U.S. stock indexes slid more than 1.5 percent by late
morning, causing the New York Stock Exchange to impose curbs on
computer program trading. U.S. government debt prices rose in a
flight to quality, as investors continued to be worried about
riskier assets, such as securities backed by subprime mortgages
and stocks.


Read more at Reuters.com Economic News

South African Rand Falls as Investors Sell Riskier Emerging Market Assets

(Bloomberg) -- South Africa's rand fell to a two-
week low against the dollar as declines in global stocks prompted
investors to sell emerging market assets.

The rand was the worst performer of the 16 most-traded
currencies tracked by Bloomberg as South Africa's main stock
index slumped almost 2 percent. The currency of Africa's biggest
economy also declined as investors sold the country's bonds,
pushing 10-year yields to the highest in nine months.


Read more at Bloomberg Currencies News

Beazer Homes posts quarterly loss after charges

(Reuters) - NEW YORK, July 26 - Beazer Homes USA Inc. , facing a deteriorating U.S. housing market and federal investigations into lending practices, posted a quarterly loss on Thursday as the builder took charges for inventory and goodwill impairments and abandonment of land option contracts.



For the third quarter ended June 30, Beazer posted a net loss of $123.0 million, or $3.20 per share, compared with a year-earlier profit of $102.6 million, or $2.37 per share.


Read more at Reuters.com Bonds News

RLPC-DAE Aviation postpones $937 mln LBO loan-sources

(Reuters) - Proceeds of the bank loan and the note offering back Dubai
Aerospace Enterprise's $1.8 billion acquisition of plane
servicing firms Standard Aero Holdings Inc. and Piedmont
Hawthorne Holdings from Carlyle Group.




The loan consisted of a $557 million term loan B, a $280
million asset-sale facility and a $100 million revolver.
Pricing on the term loan was widened earlier to 325 basis
points over the London interbank offered rate due to weak
investor interest. The loan was also being offered at an
original issue discount of 98.5.


Read more at Reuters.com Bonds News

Ford swings to surprise profit, auto ops improved

(Reuters) - Ford's profit from continuing operations, excluding one-time items, was 13 cents per share. That blew past the average Wall Street forecast of a loss of 37 cents per share as tracked by Reuters Estimates.




Read more at Reuters.com Market News

Autoliv Q2 pretax falls, cuts margin outlook

(Reuters) - STOCKHOLM, July 26 - Autoliv posted second-quarter pretax profits just shy of market expectations on Thursday and cut its forecast for operating margin for the year because of increased legal reserves.



Pretax earnings for the world's biggest maker of air bags and seat belts came in at $88.8 million versus $132.4 million in the year-ago quarter and an average forecast of $91 million in a Reuters poll of 10 analysts.


Read more at Reuters.com Market News

Rockwell Collins profit up on aero sales

(Reuters) - The company, which makes cockpit electronics and other plane parts for Boeing Co. and Airbus , posted a quarterly profit of $146 million, or 86 cents per share, compared with $121 million, or 70 cents per share, in the year-ago quarter.



) Keywords: ROCKWELLCOLLINS RESULTS/


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Legal charges knocks QLT to second-quarter loss

(Reuters) - The pharmaceutical company lost $68.7 million, or 92 cents
a share for the period ended June 30, compared with a profit
$7.5 million, or 8 cents a share for the same quarter a year
earlier.




Read more at Reuters.com Market News

UPDATE 1-Bunge 2nd-qtr profit soars, Chinese venture formed

(Reuters) - CHICAGO, July 26 - Bunge Ltd posted a sharply higher quarterly profit on Thursday, helped by strong fertilizer sales, and raised its expectations for the year.



The oilseeds processor and fertilizer maker also said it formed a joint venture with Sinograin, the Chinese state-owned grain company, to build and operate a soybean processing plant in Dongguan, China.


Read more at Reuters.com Market News

Rand weakens with emerging markets

(Reuters) - South Africa's rand weakened more than a percent against the dollar on Thursday to a one-week low, in line with other emerging markets and following a rebound in the dollar on Wednesday.

The local currency was trading at 6.9595 against the greenback at 1115 GMT compared to a New York close of 6.8825, pulling further off an 11-month high hit earlier in the week. Government bonds also weakened, with the yield on the benchmark 2015 issue up 11 basis points at 8.545 percent.


Read more at Reuters Africa

UPDATE 1-National City profit falls 27 pct, mortgages weigh

(Reuters) - Net income for Cleveland-based National City fell to $347
million, or 60 cents per share, from $473 million, or 77 cents,
a year earlier.




Analysts on average expected profit of 62 cents per share,
according to Reuters Estimates.


Read more at Reuters.com Bonds News