TOP STORIES
GLOBAL STOCKS REBOUND AFTER SELLOFF
Stocks rose on Tuesday, as a relatively muted decline in Chinese
shares allowed investors to focus on upbeat corporate earnings and
the Federal Reserve's monetary-policy meeting.
U.S. CONSUMER CONFIDENCE FALLS
Consumers unexpectedly took a dimmer view of the U.S. economy
this month. The Conference Board research group said its index of
consumer confidence fell to 90.9 in July from a revised 99.8 in
June.
BP POSTS $6 BILLION LOSS
BP swung to a loss as earnings were hit by lower oil prices and
a multibillion-dollar charge relating to its recent Deepwater
Horizon settlement.
INTEL, MICRON CLAIM MEMORY-CHIP BREAKTHROUGH
Intel and Micron say they developed a new breed of memory chips
that could bring dramatic performance gains to computers,
smartphones and other kinds of high-tech products.
AIG NAMES NEW INVESTMENT CHIEF
American International Group said it is buying First Principles
Capital Management and tapped the private-investment management
firm's top executive as its new investment chief.
HOME-PRICE GROWTH REMAINED SOLID IN MAY
Home prices made solid gains in May, according to a report
released Tuesday, as the housing market increasingly appears to be
regaining strength after a long, uneven recovery.
REGULATORS GIVE FIRST FEEDBACK TO FINANCIAL FIRMS ON 'LIVING WILLS'
U.S. regulators gave three large nonbank financial firms initial
feed back on the "living wills" they must create to describe how
they would go through bankruptcy without causing broader economic
damage.
UPS EARNINGS SURGE, LED BY INTERNATIONAL SEGMENT
United Parcel Service reported earnings that came in better than
expected as all three of its main segments saw improved operating
profit despite falling revenue.
FORD POSTS 44% JUMP IN PROFIT
Ford said steady demand for pickup trucks and SUVs pushed its
North American operation's second-quarter profit to record levels,
helping offset softer conditions in China and continued losses in
Europe.
PFIZER BOOSTS ITS EARNINGS OUTLOOK
Pfizer lifted its full-year outlook as its new treatments
continued to drive growth in the second quarter.
NATO SIGNALS SUPPORT FOR TURKEY AFTER TERROR ATTACKS
Brussels meeting requested by Turkey follows series of attacks
and Ankara's decision to step up strikes in Syria and Iraq
DUPONT TRIMS OUTLOOK ON AGRICULTURAL WEAKNESS
DuPont trimmed its earnings outlook for the year on weakness in
agricultural business and exchange-rate fluctuations.
ALLY FINANCIAL'S PROFIT FALLS
Ally Financial Inc. said its profit fell in the most-recent
quarter, though the lender recouped almost all of the
auto-origination business that it lost from former parent General
Motors Co.
CATERPILLAR TO BUY BACK $1.5 BILLION IN SHARES
Heavy-equipment maker Caterpillar is accelerating its share
repurchases while separately planning to build its own dump
trucks.
MERCK EARNINGS HURT BY ARTHRITIS DRUG KNOCKOFFS
Low-cost knockoffs of the arthritis treatment Remicade in Europe
hurt Merck & Co.'s second-quarter sales and earnings, a
harbinger of the pressure facing sellers of other costly
biotechnology drugs in the coming years.
STATOIL PROFIT SLIPS
The Norwegian oil and gas company posted a 16% drop in
second-quarter profit, hit by the continuous slide in oil prices
and further losses from operations overseas.
SUPERVALU TO CONSIDER SPINOFF OF SAVE-A-LOT
Supervalu Inc. said Tuesday that it is considering spinning off
its Save-A-Lot chain to better focus on its other segments, as the
discount chain reported better-than-expected results for the June
quarter.
GRUBHUB RAISES 2015 OUTLOOK
GrubHub raised its 2015 guidance, as the online food ordering
and delivery company reported that its second-quarter earnings
surged.
HONEYWELL PAYS $5.1 BILLION FOR GERMAN-BASED ELSTER
Honeywell has agreed to buy German-based energy and water
business Elster Group from the U.K.'s Melrose Industries for £ 3.3
billion ($5.1 billion) in cash.
LVMH'S SECOND-QUARTER REVENUE RISES 23%
LVMH Moë t Hennessy Louis Vuitton's second-quarter revenue rose
23% as the French luxury goods company benefited from a weak euro
and strong sales at its formerly struggling Louis Vuitton
brand.
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Digits Blog
TWITTER EARNINGS: WHAT TO WATCH
Twitter's CEO search, user growth and ad strategy are among the
key topics when the company reports its quarterly results Tuesday.
Here's what you need to know ahead of the report.
Markets Main
WANTED IN CHINA: PUBLIC FACE TO CALM TURBULENT MARKETS
Since China's stock boom turned bust more than a month ago, the
Chinese government's rescue effort has been missing one feature
found in markets elsewhere: a senior figure stepping forward to
stop the panic.