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Financial News from Reuters

  • A real state sign is seen near a row of homes in the Haight Ashbury neighborhood in San Francisco

    U.S. single-family home prices fell in May on a seasonally adjusted basis, falling short of expectations calling for a slight gain, a closely watched survey said on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.3 percent in May on a seasonally adjusted basis. "Housing has been turning …

  • Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange

    World shares hovered just below all-time highs on Tuesday as investors drew encouragement from a rally in Chinese markets and beaten-down Russian stocks enjoyed some respite after three days of heavy selling. Investors remained cautious, however, reflecting geopolitical jitters and the torrent of U.S. economic news due …

  • AK Steel Holding Corp reported a surprise adjusted profit for the second quarter as shipments rose. The U.S.-based steelmaker's shares were up 2.6 percent in premarket trading. Shipments rose 5.6 percent ...

  • Investors remained cautious, however, reflecting geopolitical jitters and the torrent of U.S. economic news due to come this week, including a Federal Reserve meeting, GDP data on Wednesday and non-farm payrolls figures on Friday. Wall Street also looked set to open higher. Pfizer and Merck added to a lengthy list of …

  • A trader works on the floor of the New York Stock Exchange shortly after the market's opening in New York

    U.S. stocks were set to rise slightly at the open on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on consumer sentiment. Merck reported better-than-expected ...

  • Sirius XM Holdings Inc reported a stronger-than-expected 10 percent rise in quarterly revenue as it added more paying subscribers, and the satellite radio service raised its full-year revenue forecast. Sirius XM shares were up 3.6 percent at $3.51 in heavy trading before the opening bell on the Nasdaq on Tuesday. Sirius …

  • U.S. stocks were set to rise slightly at the open on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on consumer sentiment. * Merck reported better-than-expected ...

  • High-level Chinese hackers recently tried to break into a key Canadian computer system, forcing Ottawa to isolate it from the main government network, a senior official said on Tuesday. Chief government information officer Corinne Charette said there was no evidence to suggest the attack on the National Research Council …

  • The Apple logo is pictured on the front of a retail store in the Marina neighborhood in San Francisco

    Apple Inc said it updated its MacBook Pro line of laptops with a high-resolution Retina display, faster processors and higher memory for a starting price of $1,299. The world's largest technology company ...

  • Auto systems supplier TRW Automotive Holdings Corp, targeted for takeover by ZF Friedrichshafen, easily beat Wall Street profit expectations for the second quarter as revenue rose 2 percent. Analysts expected earnings of $2.12 per share, excluding one-time items, according to a poll by Thomson Reuters I/B/E/S. Earlier …

  • Secusmart managing director Quelle displays an encrypted smart phone with the new application "Secure Call" in Hanover

    BlackBerry Ltd (BBRY.O) (BB.TO) is buying a privately held German firm that specializes in voice and data encryption, it said on Tuesday, in a bid to burnish its credentials with highly security-conscious clients like government ‎agencies. The acquisition is the latest by the smartphone pioneer to build on niche areas …

  • Ally Financial Inc reported a bigger-than-expected quarterly profit on Tuesday as auto lending jumped 11 percent to the second-highest level in the company's history. The former financing arm of General ...

  • Waste Management Inc said it would sell its waste-to-energy unit to private equity firm Energy Capital Partners for $1.94 billion in cash, to focus on its larger solid waste business. The company, which also reported a better-than-expected quarterly profit, said it would use proceeds from the sale of Wheelabrator Technologies …

  • Corning Inc, which makes glass for smartphones and televisions, reported quarterly core net sales above the analysts' average estimate, helped by higher demand for TVs in the run-up to the soccer World Cup. "In the third quarter, it (LCD glass price) is returning to the rate it was for most of 2013," Corning's senior vice …

  • Chesapeake Energy Corp said it would spend $1.26 billion to buy back all of the outstanding preferred shares issued by its CHK Utica unit to simplify its balance sheet and eliminate about $75 million in annual dividend payments. The No.2 U.S. natural gas producer also said it would swap some acreage in Wyoming's Powder …

  • A view of the Merck & Co. campus in Linden, New Jersey

    Merck, the No. 2 U.S. drugmaker, earned $2.03 billion, or 68 cents per share, in the second quarter. Analysts, on average, expected 81 cents, according to Thomson Reuters I/B/E/S. On May 6, it agreed to sell its consumer care business to Germany’s Bayer AG for $14.2 billion, and expects to close the deal in the second …

  • The rouble hit its lowest in over two months on Tuesday as investors awaited a new round of economic sanctions from the European Union over the Ukraine crisis, but Russian shares rose after steep falls in the previous session. EU diplomats are holding talks on imposing broad economic sanctions on Russia, targeting capital …

  • Aetna Chief Executive Officer Mark Bertolini said on Tuesday that the company would begin selling Obamacare exchange plans in Georgia in 2015, adding the southern state to the 17 states where it sold these ...

  • WestJet Airlines Ltd, Canada's No. 2 carrier, posted a bigger-than-expected quarterly profit as higher ticket prices and fees helped it offset steeper fuel costs and a weaker Canadian dollar. The airline also agreed to buy five Bombardier Inc Q400 NextGen turboprop planes for its Encore regional carrier, Bombardier said …

  • Oshkosh Corp on Tuesday posted a lower-than-expected quarterly profit and cut its full-year earnings outlook as a continued slide in sales of defense and fire and emergency equipment offset a rebound in sales of construction equipment. The specialty truckmaker posted a fiscal third-quarter profit of $105.1 million, or …

  • The sun peaks over the New York Times Building in New York

    New York Times Co reported a slight drop in second-quarter revenue as print advertising sales fell 6.6 percent, and the company said it expected a mid-single digit percentage drop in total ad revenue in ...

  • Merck & Co Inc reported better-than-expected quarterly results on Tuesday, with sales of consumer products and medicines for arthritis and HIV helping to offset the impact of generic competition on other drug sales. Merck, the No. 2 U.S. drugmaker, earned $2.03 billion, or 68 cents per share, in the second quarter. Excluding …

  • A labourer spreads wheat for drying at a wholesale grain market in the northern Indian city of Chandigarh

    With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, India's threat to trash a global trade deal in the name of food security appears puzzling. Modi triumphed in general elections only two months ago, but polls are never far away in the world's largest democracy and his …

  • A magnitude 6.3 earthquake hit southwest of Juan Rodriguez Clara, in the eastern Mexican state of Veracruz on Tuesday at a depth of 95 km (60 miles), the U.S. Geological Survey said, but there were no immediate reports of injuries or major damages. The quake was felt in Mexico City, Reuters witnesses said, where it rattled …

  • With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, New Delhi's threat to trash the trade deal in the name of food security and farm subsidies appears puzzling. Following are key facts on India's food stockpiling and its stand at WTO. * India rice reserves stood at 21.2 million …

  • * Yield curve flattens before 5-yr note sale * GDP, employment data, Fed in focus for Wednesday By Karen Brettell NEW YORK, July 29 (Reuters) - U.S. Treasuries prices gained on Tuesday, helped by record low yields on German government bonds, and the U.S. yield curve flattened to five-year lows before the U.S. was due to …

  • UPS driver delivers parcels in Washington

    UPS faced criticism last Christmas when a surge in online shopping caught the company off guard, leading to huge delays that frustrated customers. "... We are making investments in new capabilities and network capacity to ensure we meet customer expectations," Chief Financial Officer Kurt Kuehn said. The Atlanta-based …

  • U.S. steelmaker AK Steel Holding Corp reported a smaller second-quarter loss, helped by higher shipments. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the quarter ...

  • Agco Corp on Tuesday reported a lower quarterly profit and slashed its full-year earnings outlook as falling farm commodity prices sent sales of its tractors, harvesters and other agricultural equipment sharply lower in almost every region of the world. The Duluth, Georgia-based company posted a second quarter profit of …

  • Spanish and Italian bond yields hit the latest in a series of record lows on Tuesday on expectations 60 billion euros of coupon and debt repayments this week will be reinvested. At the same time, yields on 10-year German bonds, the benchmark for euro zone borrowing costs, touched all-time lows with analysts saying some …

  • International Paper Co, the largest corrugated box maker in North America, posted a higher-than-expected profit on Tuesday, citing returning demand in the United States and Europe. The results reflect a slowly improving U.S. and global economy that has not yet reached its full potential, IP Chief Executive Officer John …

  • Logos of Deutsche Bank AG are seen in Tokyo

    FRANKFURT/ZURICH (Reuters) - Germany's Deutsche Bank and Switzerland's UBS said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders. The investment banks, which said on Tuesday that they were cooperating with inquiries, …

  • McGraw Hill Financial Inc reported a better-than-expected quarterly profit, driven by growth in its Standard & Poor's ratings unit due to a resurgent bond market. The company also raised its full-year ...

  • Pfizer beats forecasts as oncology drugs grow Reuters - 1 hour 23 minutes ago
    A man walks past Pfizer's world headquarters in New York

    Pfizer Inc , which in May officially abandoned its bid to buy British rival AstraZeneca Plc, reported higher-than-expected second-quarter revenue, helped by growing demand for its cancer medicines. The ...

  • While most investors are transfixed by trying to anticipate the next jurisdiction-hopping, tax-driven merger, there are small but growing signs that global growth may be headed for a slowdown. Perhaps the most eye-catching figure is the collapse in the Baltic Dry Index (BDI), a market measure of demand for shipping capacity, …

  • The headquarters of Reynolds American is seen with old R.J. Reynolds Tobacco smoke stacks from a previous manufacturing plant in downtown Winston-Salem

    Tobacco major Reynolds American Inc's quarterly profit rose 6.7 percent as price increases helped to make up for a drop in cigarette volumes. The company's net income rose to $492 million, or 92 cents ...

  • Standard Chartered Bank Ltd said Katherine Tsang, chairperson for Greater China, has decided to take an early retirement from Aug. 1 to pursue personal challenges. Tsang joined the bank in 1992.

  • Arch Coal loss widens as prices stay weak Reuters - 1 hour 32 minutes ago

    Arch Coal Inc reported a bigger quarterly loss as it continued to face transport issues and low prices for steel-making coal. The company's loss widened to $97 million, or 46 cents per share, in the second ...

  • UPS profit hit by retirement liabilities Reuters - 1 hour 33 minutes ago

    United Parcel Service Inc's quarterly profit more than halved as the world's biggest courier company took a charge related to retirement liabilities of some union employees. The company's net income fell ...

  • * Says cooperating in probes into high-frequency trading FRANKFURT, July 29 (Reuters) - Deutsche Bank AG's bid to become "last man standing" in European investment banking is working, the bank said on Tuesday, even as the threat intensifies of costly litigation and regulatory actions. Germany's flagship bank reported …

  • A employee stands in the Microsoft booth during the 2014 Computex exhibition at the TWTC Nangang exhibition hall in Taipei

    A Chinese regulator said on Tuesday it is conducting an anti-monopoly investigation into Microsoft Corp (MSFT.O) over its Windows operating system, in the latest in a growing number of competition probes that have unnerved Western firms in China. China's State Administration for Industry & Commerce (SAIC) was also investigating …

  • Satellite radio service Sirius XM Holdings Inc reported a stronger-than-expected 10 percent rise in quarterly revenue as it added more paying subscribers. Sirius XM said it had 26.3 million paying subscribers at the end of the second quarter, a rise of 5 percent from a year earlier.

  • US STOCKS-Futures rise on earnings, data on tap Reuters - 1 hour 38 minutes ago

    U.S. stock index futures edged higher on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on home prices and consumer sentiment. * Merck reported ...

  • Speciality glass maker Corning Inc reported a 25 percent jump in quarterly net sales, helped by higher demand for TVs in Europe and South America in the run-up to the football World Cup. Corning, whose ...

  • Aetna Inc, the third-largest U.S. health insurer, on Tuesday reported a higher second-quarter profit that beat analyst expectations, helped by last year's acquisition of Medicare and Medicaid provider Coventry Health Care. Revenue rose to $14.5 billion from $11.5 billion and Aetna raised its forecasts for 2014 profit and …

  • Spirit Airlines Inc, a low-cost U.S. carrier, on Tuesday reported a higher-than-expected second-quarter profit as it added flights and raised fares. Net income rose 54 percent to $64.8 million, or 88 cents ...

  • * Production at new Mexico plant slower than expected -exec * Still aims for annual US sales target of 1.55 mln vehicles (Adds executive comment, North American profit decline, Brazil and China information) TOKYO, July 29 (Reuters) - Honda Motor Co said teething troubles at a new plant in Mexico dented sales and profit …

  • Talisman Energy posts surprise loss Reuters - 2 hours 2 minutes ago

    Talisman Energy Inc, Canada's fifth-largest independent petroleum producer, reported a surprise loss, hurt by lower gas prices in North America and higher royalty payments on production.

  • * New Zealand dollar slips as Fonterra cuts payout forecast LONDON, July 29 (Reuters) - Sterling fell to a six-week low against the dollar on Tuesday while the New Zealand dollar dropped almost half a percent as thin summer currency markets marked time before a slew of U.S. data due later in the week.

  • Canadian stocks looked set to open modestly higher on Tuesday, with September futures on the S&P TSX index up 0.1 percent at 0715 ET. The index was little changed on Monday as a decline in shares of energy ...

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