Infineon, Merck, SGL, DaimlerChrysler, EnBW, DAB, Krones: Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index fell 1.4 percent. The index provides
an estimate of the DAX Index, based on trading in DAX futures
after the Xetra electronic market closes. The DAX declined 1.7
percent to 7806.79 on the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Asian Shares Fall From a Record on U.S. Economy Concern; Kospi Advances

(Bloomberg) -- Asian stocks fell, led by Toyota
Motor Corp. and Taiwan Semiconductor Manufacturing Co., after
lower-than-expected earnings from the largest U.S. mortgage
lender fueled concern a housing slump is spreading.

Canon Inc. and Honda Motor Co. dropped after the yen rose
beyond 120 per dollar for the first time in two months, while
BHP Billiton Ltd. slid in tandem with oil and metals prices.
The Kospi index rebounded from earlier losses after Moody's
Investors Service raised South Korea's credit ratings and the
central bank reported the fastest economic growth in 18 months.


Read more at Bloomberg Stocks News

Business Objects Q2 profit, sales top forecasts

(Reuters) - SAN FRANCISCO, July 25 - Business Objects , whose software helps companies find marketing patterns in databases, on Wednesday said quarterly profit almost tripled, citing the impact of recent acquisitions and demand in Europe and Asia.



Net income in the company's fiscal second quarter increased to $21.6 million, or 22 cents per share, from $7.9 million, or 8 cents per share, a year earlier. Earnings before special items were 48 cents per share.


Read more at Reuters.com Market News

China machine tool maker to sell 23 pct stake

(Reuters) - Other companies that have expressed interest in the mid-sized
Chinese machine tool maker include a unit of Goldman Sachs
and an investment firm controlled by Chinese enterpreneur Guo
Guangchang, he said.




Tong, also chairman of Sichuan Changzheng, added that his
company planned to go public at home and overseas after 2010.


Read more at Reuters.com Mergers News

Methanex quarterly earnings fall

(Reuters) - Analysts had forecast 36 cents per share profit, according
to Reuters Estimates.







Read more at Reuters.com Market News

China Government Says Prevention of `Overheating' Is Top Second-Half Goal

(Bloomberg) -- China's top planning agency said
prevention of ``overheating'' is the most important policy goal
in the second half of 2007, reiterating a government priority to
prevent escalating prices and curb inflation.

The government ``will apply economic and legal policy tools
to cool the growth pace in the economy,'' according to a press
statement released today in Beijing by the National Development
and Reform Commission ahead of a press conference.


Read more at Bloomberg Emerging Markets News

China Burns 18 Percent More Thermal Coal in First Six Months, Council Says

(Bloomberg) -- China, the world's largest thermal
coal producer and consumer, burned 18 percent more of the fuel at
its power plants in the first half of the year,

The country used 590.8 million metric tons of coal in the
six months ended June 30, the China Electricity Council said in a
statement on the Chinese government's Web site.


Read more at Bloomberg Energy News

EADS to take $138 mln helicopter provision - report

(Reuters) - EADS was not immediately available for comment.




Technical glitches have caused a one-year delay to the NH90
helicopter programme. The land version of the helicopter is
being delivered to customers but the naval model has had
difficulties linked to anti-submarine equipment, which caused
problems for the landing gear.


Read more at Reuters.com Market News

NEXT UP-Anemic home sales data may boost Treasuries

(Reuters) - The sector may not see bottom for some time say analysts,
and both existing and new home sales are expected to confirm a
downward trend.




A deeper dropoff in homebuilding could provide a boost to
bonds, particularly if investors began to factor in its impact
on the job market.


Read more at Reuters.com Bonds News

WuXi PharmaTech files with U.S. SEC for IPO

(Reuters) - WuXi has applied to list its ADSs on the New York Stock
Exchange under the symbol "WX" , according to the
company's registration statement with the U.S. Securities and
Exchange Commission.





Read more at Reuters.com Government Filings News

US CDO sales may pick up after hitting low-JPMorgan

(Reuters) - "The US forward pipeline shows some signs of life ... and
is quite swollen for CLOs," J.P. Morgan said in a separate
report on Friday.




Concerns about risky home loans that make up the underlying
collateral for CDOs have sapped investor interest in the debt
structures that pool together various debt securities,
including subprime loans, to garner greater yield and to help
diversify risk.


Read more at Reuters.com Bonds News

Skype seeks new sales as eBay pressure rises

(Reuters) - While making Skype calls is free between computers, the company charges for calls to and from regular phones.




"We try not to overpromote paid services. We are developing new services which will be advertisement paid," Zennstrom said at a media event in Estonia, where most of development work for the service has been done.


Read more at Reuters.com Business News

Rand weakens in correction vs dollar

(Reuters) - South Africa's rand was softer against the dollar in late Tuesday trade and could come off a bit more in the next two days in a mild correction after reaching fresh 11-month highs, traders said.

At 1520 GMT, the rand was trading at 6.8375 versus the dollar, 0.2 percent off New York's close of 6.8250 on Monday, although it pulled back slightly from a session low of 6.8475.


Read more at Reuters Africa

TREASURIES-Pricey bonds eke out gains as housing hits stocks

(Reuters) - NEW YORK, July 24 - U.S. Treasury debt prices
struggled for gains on Tuesday and benchmark yields flirted
with their lowest levels in seven weeks as fresh housing woes
weighed on U.S and European equities.




Treasuries gained as U.S. stock indexes slid on
disappointing profits, with Countrywide Financial Corp ,
the largest U.S. mortgage lender, and building materials maker
USG Corp. giving Wall Street's losses a fresh housing
angle. See [.N] for the latest on stocks.


Read more at Reuters.com Bonds News

UPDATE 1-US panel backs Lilly drug for cancer prevention

(Reuters) - The Food and Drug Administration will make the final
decision but usually follows panel recommendations.




Lilly already sells Evista now for treatment and prevention
of osteoporosis in women past menopause.


Read more at Reuters.com Government Filings News

Ubisoft quarterly sales rise 90.5 pct, lifts goals

(Reuters) - The company, known for hit game "Prince of Persia", tied its
strong performance to early positioning on games for new
generation consoles, which accounted for 79 percent of sales in
the quarter, against 42 percent in the year-ago period.




"Momentum was particularly strong during the period for
European sales, which climbed 109 percent thanks to the ramp-up
of new generation consoles and the impact of the PS3 games
sales, including Rainbow Six Vegas and Oblivion," Chief
Executive Yves Guillemot said in a statement.


Read more at Reuters.com Market News

Poland's Zloty Falls Versus Euro as Investors Shun Emerging Market Assets

(Bloomberg) -- The Polish zloty fell to the lowest
in almost two weeks as the U.S. subprime mortgage defaults and
tumbling global stocks prompted investors to withdraw from
emerging market assets.

The zloty was the second worst-performer in Europe today,
declining with other central European currencies including the
Hungarian forint and the Slovakian koruna. The NTX Index of
stocks in 30 of the region's companies fell 1.3 percent, its
biggest drop in two weeks.


Read more at Bloomberg Currencies News

Wheat Rises Near Record High as Rain Damages Crops in Europe, Egypt Buys

(Bloomberg) -- Wheat rose to a three-week high in
Chicago and Kansas City on speculation that heavy rains in
northern Europe will reduce global production, increasing demand
for U.S. supplies.

Egypt, the world's second-biggest importer of the grain,
today said it bought 175,000 metric tons of U.S. wheat after
prices for European supplies rose to a record. Part of northern
Europe will have above-normal rain the next 10 days, said John
Dee, president of Global Weather Monitoring in Mohawk, Michigan.


Read more at Bloomberg Commodities News

UPDATE 2-Ryerson to go private for $1.06 billion

(Reuters) - Ryerson said the private equity firm would pay $34.50 per
share, below the company's Monday closing stock price of
$34.96.




Hedge fund Harbinger Capital Partners, which announced in
December that it owned Ryerson shares and was considering a
variety of actions, said on Tuesday that it was unhappy with
the terms.


Read more at Reuters.com Mergers News

Barr challenges patent on Schering-Plough drug

(Reuters) - NEW YORK, July 24 - Barr Pharmaceuticals Inc. said on Tuesday it is challenging the patent for Schering-Plough Corp.'s brain-cancer drug Temodar in an effort to bring generic versions to the market.



Schering-Plough and the patent owner, Cancer Research Technology, sued last Friday in U.S. federal court in Delaware to prevent the generic drugmaker from selling the product, Barr said.


Read more at Reuters.com Government Filings News

BP's Second-Quarter Profit Beats Estimates, Boosted by Record Fuel Prices

(Bloomberg) -- BP Plc, Europe's second-largest oil
company, reported better-than-expected earnings in the second
quarter, boosted by record gasoline prices.

Net income rose 1.5 percent to $7.38 billion, or 38 cents a
share, from $7.27 billion, or 36 cents, in the year-earlier
period, the London-based company said today. Earnings benefited
from the sale of a U.K. refinery. Profit excluding one-time
items and inventory changes beat estimates for the first time in
a year.


Read more at Bloomberg Energy News

UPDATE 1-MDU Resources posts higher net, raises forecast

(Reuters) - Net income rose to $89.3 million, or 49 cents a share, from
$71.3 million, or 39 cents a share, a year earlier.




Analysts on average forecast earnings of 45 cents a share,
according to Reuters Estimates.


Read more at Reuters.com Market News

CORRECTED - CORRECTED-Synovus Financial quarterly profit rises

(Reuters) - Synovus reported second-quarter earnings of $162.8 million,
or 50 cents a share, compared with $152.8 million, or 47 cents
a share, in the year-ago quarter.




The Columbus, Georgia-based financial services company owns
81 percent stake in TSYS, an electronic payment processing
company.



Read more at Reuters.com Market News

UPDATE 1-TCF Financial second-quarter profit falls

(Reuters) - The Wayzata, Minnesota-based company said it earned $62.1
million or 49 cents a share in the latest first quarter,
compared with $67.1 million, or 52 cents a share, a year ago.




Analysts had expected a profit of 47 cents a share
excluding special items, according to Reuters Estimates.


Read more at Reuters.com Market News

Toromont profit jumps 53 pct in second quarter

(Reuters) - That compares with net earnings of C$24.9 million, or 39
Canadian cents per share, in the same period last year.







Read more at Reuters.com Market News

Wall Street drops at open on profit woes

(Reuters) - U.S. stocks fell after building materials maker USG Corp. raised concerns about the housing slump, while chemical company DuPont Co. put a damper on the earnings reporting season with results that missed estimates.

The Dow Jones industrial average was down 77.71 points, or 0.56 percent, at 13,865.71. The Standard & Poor's 500 Index


Read more at Reuters Africa

CORRECTED - Petrobras may appeal $700 mln regulator's charge

(Reuters) - "All payments made by Petrobras were in compliance with the
rules. If we cannot resolve this in an administrative way,
Petrobras will appeal in court," a company spokesman said.




Petrobras stock opened 1.2 percent lower at 56.8 reais
after rising 1.6 percent on Monday.


Read more at Reuters.com Bonds News

IAEA to send team to quake-hit nuclear plant

(Reuters) - "This invitation is important for identifying lessons learned that might have implications for the international nuclear safety regime," the International Atomic Energy Agency said in a statement.




Initially, Japan had told the IAEA it did not need help, but on Monday it said it would allow inspectors into the quake-hit plant after coming under pressure from local authorities.


Read more at Reuters.com Government Filings News

Rio Tinto says formally launches Alcan offer

(Reuters) - "The offer is expected to close in the fourth quarter of
2007."




Read more at Reuters.com Mergers News

Avery Dennison posts lower profit, cuts outlook

(Reuters) - CHICAGO, July 24 - Office supplies maker Avery Dennison Corp. on Tuesday posted a weaker-than-expected quarterly profit and cut its outlook for the year.



Net income in the second quarter fell about 23 percent to $85.8 million, or 87 cents a share, compared with $112 million, or $1.12, a year earlier.


Read more at Reuters.com Mergers News

UPDATE 1-Mothers Work Q3 earnings fall, cuts '07 view

(Reuters) - The retailer said the current popularity of certain styles
for the non-maternity women's apparel market, which could
easily fit a pregnant woman early in her pregnancy, have hurt
its sales.




"The weak sales trend ... has also resulted in us taking
some increased markdowns to help manage our inventory level and
to respond to a greater level of clearance markdowns by our
maternity competition," Rebecca Matthias, President of Mothers
Work said in a statement.


Read more at Reuters.com Market News

BNSF quarterly profit slips

(Reuters) - Wall Street analysts had on average expected earnings per
share for the quarter of $1.22, according to Reuters
Estimates.




Read more at Reuters.com Market News

Credit Market Rout May Trigger Debt Defaults, Royal Bank of Scotland Says

(Bloomberg) -- The global credit market rout caused
by losses on U.S. subprime securities may spark an increase in
corporate defaults and a slump in share prices, according to
Royal Bank of Scotland Group Plc.

The cost of protecting debt using credit-default swaps more
than doubled since the start of June with the iTraxx Crossover
Series 7 Index of contracts on 50 European companies soaring to
365,000 euros ($508,000) for every 10 million euros of bonds.
The cost may climb as high as 500,000 euros, said Royal Bank's
chief credit strategist Bob Janjuah in London.


Read more at Bloomberg Bonds News

Countrywide profit falls 33 pct, slashes outlook

(Reuters) - NEW YORK, July 24 - Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday reported a 33 percent decline in second-quarter profit and slashed its full-year earnings forecast, citing a difficult housing market.



Shares of Countrywide fell 8.7 percent in pre-market electronic trading.


Read more at Reuters.com Bonds News

Oil falls below $76, OPEC reassures on supply

(Reuters) - Oil fell more than $1 to below $76 a barrel on Tuesday after further assurance from OPEC it would pump more crude if needed and expectations of higher U.S. fuel stockpiles.

London Brent crude, now more representative of world prices than U.S. oil, declined for a third day -- slipping $1.11 to $75.75 a barrel by 1120 GMT.


Read more at Reuters Africa

UPDATE 1-SCA Q2 pretax tops consensus, shares rise 5 pct

(Reuters) - Pretax profit rose to 2.0 billion Swedish crowns from 1.7 billion in the same period a year earlier,
beating the 1.9 billion average in a Reuters poll.




The company, the world's top producer of incontinence
products and a leading supplier of baby diapers and packaging,
said it expected "stable development during the autumn with good
demand", but added raw materials costs would continue to rise.


Read more at Reuters.com Market News

Unisys 2nd-quarter net loss narrows

(Reuters) - The company reported a net loss of $65.5 million, or 19 cents a share, compared with a net loss of $194.6 million, or 57 cents a share, a year earlier.



It had revenue of $1.38 billion, compared with $1.41 billion a year earlier.


Read more at Reuters.com Market News

Kimberly-Clark posts higher profit

(Reuters) - Excluding items related to cost-cutting plans and a restructuring announced in 2005, Kimberly-Clark earned $1.04 per share, compared with a profit of 95 cents per share a year earlier.




In April, the Dallas-based company forecast an adjusted second-quarter profit of $1.01 to $1.03 per share, while analysts, on average, called for a profit of $1.03 per share, according to Reuters Estimates.


Read more at Reuters.com Market News

Texas Instruments Shares Fall After Sales, Forecast Miss Analyst Estimates

(Bloomberg) -- Shares of Texas Instruments Inc., the
world's biggest maker of chips that run mobile phones, fell after
second-quarter sales and its third-quarter forecast missed
analysts' estimates.

Shares of Texas Instruments traded in Germany fell as much
as $1.83, or 4.8 percent, to the equivalent of $36.25 from $38.18
in New York Stock Exchange composite trading yesterday. The stock
traded at $36.82 as of 11:12 a.m. in Frankfurt.


Read more at Bloomberg Stocks News

PepsiCo 2nd-qtr profit up; raises outlook

(Reuters) - Analysts on average were expecting 89 cents per share, according to Reuters Estimates.




Quarterly revenue rose to $9.61 billion from $8.71 billion.


Read more at Reuters.com Business News

European Government Bond Yields Hold Near Two-Month Low on Subprime Losses

(Bloomberg) -- European 10-year bond yields held
near a two-month low as investors sought the safety of government
debt on concern the U.S. subprime mortgage debacle will damp
growth in the world's biggest economy.

Losses associated with troubled assets backed by loans to
homeowners with poor credit histories have spread beyond the U.S.
Japan's nine biggest banking groups have more than 1 trillion yen
($8.3 billion) of combined holdings in products backed by U.S.
subprime mortagages, according to Nikkei News.


Read more at Bloomberg Bonds News

SCA Q2 pretax tops consensus

(Reuters) - Pretax profit rose to 2.0 billion Swedish crowns from 1.7 billion in the same period a year earlier, just beating the 1.9 billion seen in a Reuters poll.



The group, the world's biggest producer of incontinence products and a leading supplier of baby diapers and packaging, said it would continue to see "stable development during the autumn with good demand", but added raw materials costs would continue to rise.


Read more at Reuters.com Market News

COLUMN-Enough subprime, let's talk housing debacle:James Saft

(Reuters) - By James Saft




LONDON, July 24 - Troubles are surfacing with
loans made to better-off U.S. homebuyers in a worrying trend
that indicates what's been termed "The subprime crisis" may need
to be rebadged "The housing crisis" and eventually maybe just
"The crisis."


Read more at Reuters.com Bonds News

Mitsubishi UFJ, Sumitomo Sell Debt as Concern Over Subprime Impact Fades

(Bloomberg) -- Mitsubishi UFJ Financial Group Inc.,
Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group
Inc. sold 375 billion yen ($3.1 billion) of bonds this month as
investors accepted lower yields to own their debt.

The fall in the borrowing costs of Japan's three largest
banks reflects investor optimism that they're unlikely to be hurt
by losses in U.S. subprime mortgages. The impact of subprime
mortgage losses in the U.S. on Japan's banks ``will not be very
large,'' Masayuki Oku, head of the nation's banking lobby and
chairman of Sumitomo Mitsui, said today.


Read more at Bloomberg Bonds News

JVC, Kenwood in capital alliance, eye merger

(Reuters) - Kenwood will buy 20 billion yen worth of JVC shares, taking
a 17 percent stake in the Yokohama-based company, while Sparx
will buy 15 billion yen worth of shares, acquiring a 12.8
percent stake.




The new share issue will lower Matsushita's stake to 36.8
percent.


Read more at Reuters.com Business News

Husqvarna says room for purchases, Toro "long shot"

(Reuters) - "We have said that we intend to stay at debt to EBITA
ratio of
around 2.5, but we are not rated, so we could also choose to
raise our debt level if the right opportunity came along."




"But just to give you a number, that would be at least 10
billion .


Read more at Reuters.com Mergers News

Ozawa Aims to End Ruling Liberal Democrats' Decades of Dominance in Japan

(Bloomberg) -- It's a sweaty day on the campaign
trail in Japan's western island of Shikoku, and Ichiro Ozawa is
turning up the heat on the ruling Liberal Democratic Party.

``There hasn't been one other democratic, industrialized
country ruled by a single party for 60 years,'' he told a rally
of more than 200 people on July 18. ``Your vote can mean the
difference in giving power to the opposition party. That's the
purpose of democracy.''


Read more at Bloomberg Exclusive News

German Benchmark Stock Index Falls, Led by DaimlerChrysler, Bayer, BMW

(Bloomberg) -- German stocks dropped, led by
DaimlerChrysler AG, Bayer AG and BMW AG.

The benchmark DAX Index lost 38.18, or 0.5 percent, to
7906.03 as of 9:06 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies dropped 0.4 percent.


Read more at Bloomberg Stocks News

Nokia to buy photo-sharing site Twango

(Reuters) - Nokia has increased its acquisitions under Chief Executive Olli-Pekka Kallasvuo, who took over in June 2006. He has said the firm is looking to acquire more companies to strengthen its multimedia and corporate offering.




"The Twango acquisition is a concrete step towards our Internet services vision of providing seamless access to information, entertainment, and social networks," Anssi Vanjoki, head of Nokia's multimedia unit said in a statement.


Read more at Reuters.com Mergers News

Akzo Nobel CEO says wants drive consolidation: CNBC

(Reuters) - In June, Britain's Imperial Chemical Industries Plc turned down a 7.2 billion pound takeover approach from Akzo, saying it undervalued the company.




Akzo Nobel is widely expected to make another approach for ICI, but Wijers declined to comment on any steps involving the British company.


Read more at Reuters.com Market News