TOP STORIES
MASTERCARD POSTS WEAKER-THAN-EXPECTED REVENUE GROWTH
MasterCard on Wednesday reported in-line adjusted profit for the
second quarter, though revenue growth was slightly weaker than Wall
Street had expected.
U.S. PENDING HOME SALES SLIP IN JUNE
A forward-looking indicator of home sales slipped in June, but
remained well above year-ago levels, a sign the housing market is
stabilizing.
STOCKS GAIN AHEAD OF FED DECISION
Global stock markets rose Wednesday, but investors remained
cautious ahead of a policy statement from the Federal Reserve that
could offer clues on the path of U.S. interest rates.
HUMANA PROFIT JUMPS 25%
Humana Inc., which has agreed to sell itself to Aetna Inc., on
Wednesday reported a better-than-expected 25% jump in profit in its
second quarter, though revenue disappointed as the health insurer
faces challenges in its Medicare Advantage business.
ANTHEM RESULTS TOP EXPECTATIONS
Anthem reported a better-than-expected 8.4% increase in revenue
in its second quarter, while the insurer bumped up its full-year
guidance for medical enrollment growth.
SIEMENS, BOMBARDIER IN TALKS ON TRAIN MERGER
German industrial conglomerate Siemens is in talks to combine
its rail unit with Canada-based Bombardier's train business, people
familiar with the matter said.
DESPITE HIGHER TOP AND BOTTOM LINES, PG&E CUTS GUIDANCE
PG&E's revenue and profit improved in the June quarter, as
it benefited from the timing of a case related to its utility
prices. Still, the California utility lowered its earnings guidance
for the year.
NESTLÉ INDIA'S SALES FALL 20% AFTER NOODLE SCARE
Nestlé India said its sales plunged by 20% in the second
quarter, as a food-safety scandal and a large-scale product recall
weighed on its earnings.
BARCLAYS SCRAPS DIVIDEND TARGET
Barclays Executive Chairman John McFarlane asked shareholders to
be patient on dividends as he took a fresh stab at reshaping the
beleaguered British bank.
DINE EQUITY REVENUE RISES, HELPED BY IHOP GROWTH
DineEquity posted a better-than-expected 6.9% revenue increase
and a jump in profit as the restaurant operator's IHOP and
Applebee's chains continued to grow.
GENERAL DYNAMICS LIFTS OUTLOOK
General Dynamics boosted its earnings outlook for the year as
the aerospace and defense company's revenue and earnings easily
topped expectations in its second quarter.
THOMSON REUTERS PROFIT INCREASES
Thomson Reuters's profit improved 5.2% in the second quarter,
though revenue fell below Wall Street expectations amid the impact
a stronger dollar.
TOUGH ENVIRONMENT WEIGHS ON CEMENT GIANT LAFARGEHOLCIM
Recently merged cement behemoth LafargeHolcim on Wednesday said
the difficult macroeconomic conditions that hurt its business in
many of its markets so far this year will continue in the second
half of the year.
NOMURA PROFIT FALLS 16% FROM PREVIOUS QUARTER
Nomura Holdings Inc.'s net profit dropped 16% in the April-June
period from the previous quarter, when the Japanese brokerage
benefited from a lower effective tax rate.
INTERNATIONAL PAPER PROFIT TOPS EXPECTATIONS
International Paper Co. reported a better-than-expected adjusted
profit for its second quarter, though sales were dented by foreign
currency.
GARMIN EARNINGS SLIP ON CURRENCY HEADWINDS, PROMOTIONAL COSTS
Garmin Ltd. said profit slid nearly 25% in the latest quarter as
the company faced currency headwinds and advertising costs amid
fierce competition from smartphones cutting into its
location-tracking business.
BANK OF RUSSIA HALTS FOREX PURCHASES
The Bank of Russia said it had suspended daily purchases of U.S.
dollars for its reserves as the ruble dropped to five-month lows,
threatening to spur already stubbornly high inflation.
LEVEL 3 COMMUNICATIONS SWINGS TO LOSS
Level 3 Communications swung to a quarterly loss on charges
related to its efforts to improve its balance sheet, halting a
string of six straight quarters of profits.
SOLVAY TO BUY CYTEC INDUSTRIES FOR $5.5 BILLION
Belgium-based chemicals company Solvay said it is buying U.S.
counterpart Cytec Industries for $5.5 billion in a bid to become a
major player in the production of light-weight materials for
airplanes and high-end cars.
EXELON REPORTS PROFIT INCREASE ON HIGHER SALES, HEDGING GAIN
Power company Exelon said profit in its second quarter rose,
thanks to higher sales and a hedging-related gain.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Briefly Blog
5 THINGS TO WATCH AT THE FED MEETING
The Federal Reserve will issue a new policy statement Wednesday
at 2 p.m. EDT. Here are five things to watch.
Europe News
GREECE'S TSIPRAS FACES BATTLE TO AVOID SYRIZA SPLIT
Greece's ruling Syriza party is sliding toward a split as
hard-left dissidents resist Greek Premier Alexis Tsipras's
acquiescence to creditors' demands, endangering his fragile
government.