TOP STORIES
TARGET LOWERS EARNINGS OUTLOOK
Target again lowered its earnings outlook for the year, still
reeling from data breach of its customers' credit and debit card
information and slower traffic at its stores. Target also posted a
62% decline in 2Q earnings. Shares fell 1% premarket.
LOWE'S TRIMS GUIDANCE EVEN AS RESULTS TOP EXPECTATIONS
Lowe's reported a fiscal 2Q profit of $1.04 billion, or $1.04 a
share, as net sales improved 5.7% to $16.6 billion. Still, the
retailer scaled back its sales guidance for the year and share were
down 3%.
WALGREEN SHAKEUP FOLLOWED BAD PROJECTION
A billion-dollar forecasting error in Walgreen's
Medicare-related business has cost the jobs of two top executives
and alarmed big investors.
STAPLES PUSHES TURNAROUND BID AS SALES FALL AGAIN
Staples' fiscal 2Q profit fell to $82 million, or 13c a share,
while it pushed ahead in its plans to close underperforming stores
and spark sales growth online. Sales fell 1.8% to $5.22 billion.
The top line beat analysts' view. Shares up 2% early.
U.S. STOCK EDGE LOWER
U.S. stocks edged down following two consecutive days of gains
for the Dow industrials and the S&P 500. Investors are looking
ahead to the release of minutes from the Fed's latest
monetary-policy meeting at 2 p.m. Eastern.
BHP BILLITON PLANS MASSIVE RESTRUCTURING
BHP Billiton said it would spin off nickel, aluminum and other
properties into a new company, in what would be one of the biggest
asset sales in mining history.
BROKEN COMMITMENT RUINED VASCULAR BIOGENICS IPO
Cancellation of the IPO was a major setback for the company
seeking money to pay for clinical trials to complete its work on
treatments for cancer and other diseases. For executives, it also
raised questions about the role of underwriters in an offering.
ISRAEL TARGETS HAMAS' MILITARY COMMANDER
The wife and child of Hamas' military commander Mohammed Deif
were killed in an Israeli airstrike, the Islamist group said, after
the collapse of a week-long cease fire sparked a sharp escalation
in Gaza attacks.
U.S. AIRSTRIKE SUCCESS SPURS PUSH FOR MORE IRAQ ATTACKS
The U.S. military's recent success in weakening Islamic State
extremists and pushing them away from a key dam in Iraq is creating
momentum for a broader campaign that could take American air power
to the militant group's heartland northwest of Baghdad.
OIL PRICES RISE AHEAD OF INVENTORY DATA
Oil prices rose off multi-month lows ahead of weekly data
expected to show crude-oil supplies fell last week. Nymex September
crude rose 79c to $95.27 a barrel. The September contract expires
at settlement. October rose 30c to $93.16.
AMAZON TO OPEN IN SHANGHAI'S FREE-TRADE ZONE
Amazon said it plans to set up operations in Shanghai's new
free-trade zone, a major move that will allow it to sell more
merchandise from abroad in China and help boost competition against
rivals like Alibaba.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Grand Central
CRUDE OIL PRICE DROP TAKES PRESSURE OFF THE FED
Whether looked at from the supply side or demand side, the
energy price drop takes some pressure off the Fed and other central
banks to move toward tighter monetary policies. Sign up here for
The Wall Street Journal's daily report on global central banks.
Capital Journal Daybreak
SECRETIVE HAMAS ARMY EMERGES
The conflict in the Gaza Strip has brought the secretive
guerrilla army of Hamas out of the shadows and into battle against
Israel's military for only the second time. Sign up here for The
Wall Street Journal's morning rundown of the biggest news driving
Washington.