TOP STORIES 
 
U.S. ECONOMY EXPANDED 2.3% IN SECOND QUARTER

The U.S. economy accelerated modestly in the second quarter-up 2.3%-after a slow start to 2015, but growth this year is still less than last year's tepid first half and is well below the overall pace of the recovery.

PROCTER & GAMBLE GIVES A MUTED OUTLOOK

Procter & Gamble gave muted guidance for its new fiscal year on Thursday, as sales fell 9.2% in the June quarter and the company booked a big charge related to an accounting change for its Venezuela operations.

U.S. STOCKS FALL AMID EARNINGS, GDP DATA

U.S. stocks pulled back after data released Thursday indicated the U.S. economy has yet to fully rebound from a weak start to the year.

T-MOBILE RAISES SUBSCRIBER-GROWTH OUTLOOK

T-Mobile US lifted its subscriber-growth outlook for the year as the company logged a better-than-expected 14% increase in revenue for its second quarter.

TIME WARNER CABLE PROFIT FALLS, DESPITE STRONG SUBSCRIBER GROWTH

Time Warner Cable said profit fell 7.2% in its latest quarter, as higher programming costs and a pension expense offset higher revenue and subscriber growth.

FIAT CHRYSLER'S PROFIT JUMPS

Fiat Chrysler reported a two-thirds jump in second-quarter profit as it showed a strong improvement in its North America margins and consolidated a timid turnaround in its European business.

GREEK LEADER CALLS FOR PARTY VOTE ON BAILOUT

Greek Prime Minister Alexis Tsipras proposed a referendum within his Syriza party, hoping to put to rest a growing split over whether to accept tough austerity measures that would be required in a new bailout deal.

AB INBEV PROFIT FALLS ON LOWER U.S., BRAZIL SALES

Anheuser-Busch InBev said its net profit fell in the second quarter, missing analysts' expectations as weakness in the U.S., Europe and Brazil weighed on sales.

CONOCOPHILLIPS CUTS CAPITAL SPENDING PLANS

ConocoPhillips unveiled plans to further pare its spending for the year, as the company swung to a loss in its second quarter amid tumbling commodity prices.

STATOIL TO REPORT EARNINGS IN DOLLARS

The Norwegian oil company is to start calculating its dividend in dollars, meaning that the amount ending up in the government's pocket may fluctuate depending on the value of the krone.

TEVA PROFIT FALLS ON LEGAL EXPENSES

Teva Pharmaceuticals Industries's earnings declined as the generic drug maker paid more in expenses related to legal settlements and restructuring, though profit still beat Wall Street expectations.

POTASH CORP. EARNINGS FALL ON NITROGEN PRICES

Potash Corp. of Saskatchewan Inc. posted a 12% drop in its second-quarter profit on Thursday and scaled back the top end of earnings guidance for the year as weaker nitrogen prices impacted results

MONDELEZ RAISES GUIDANCE AS RESULTS BEAT

Mondelez raised its revenue target on Thursday as results came in better than expected despite currency headwinds.

GRAINGER TO BUY CROMWELL GROUP

W.W. Grainger has agreed to buy England's Cromwell Group, a large distributor of maintence, repair and operating products, for about $482 million in cash.

AVON REVENUE HURT BY STRONG DOLLAR

Avon Products Inc. on Thursday said its revenue fell 17% despite earnings growth for its latest quarter as the company continues to struggle with the negative effect of the strong dollar.

OCCIDENTAL REVENUE FALLS AS COMMODITY PRICES REMAIN WEEK

Occidental reported Thursday that revenue fell 32% in the June quarter as the energy exploration and production company continued to be hurt by low commodity prices.

BOMBARDIER PROFIT DROPS 19%

Bombardier Inc. on Thursday posted a 19% drop in its second-quarter profit on lower revenue in both its commercial aircraft and transportations divisions.

MARATHON PETROLEUM PROFIT FALLS 3.4%

Marathon Petroleum Corp. said its second-quarter earnings fell 3.4% amid weaker refining margins and higher costs.

BORGWARNER CUTS 2015 GUIDANCE

BorgWarner on Thursday cut its revenue and earnings guidance for the year, citing weak commercial vehicle markets around the world and a production slowdown in China.

DEUTSCHE BANK BEATS FORECASTS

Deutsche Bank's incoming co-chief John Cryan presented a sharp rise in the bank's second-quarter profit, driven by unexpectedly strong investment banking revenue and lower overall taxes, but warned of challenges ahead.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Technology 
SONY, SAMSUNG FIND STRENGTH IN SALES OF COMPONENTS

Earnings reports from Samsung and Sony underscore the tech giants' increasing reliance on components sales as it becomes harder to make money selling consumer electronics.

 
Markets Main 
BETS RISE THAT CHINA'S YUAN WILL FALL

Bets are rising that China's currency is headed lower with its stock market, a signal of waning investor confidence in the country's ability to manage its economic slowdown and market turmoil.