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.