Shari Olefson, real estate attorney and author of "Foreclosure Nation", says there are still "two major headwinds" for U.S. home sales ahead of the release of the latest existing home sales data.» Read More
ATLANTA— Coca-Cola Co. on Tuesday reported earnings that declined by 3 percent in its second quarter, and beat analysts' expectations. The Atlanta- based company said profit fell to $2.6 billion, or 58 cents per share, from $2.68 billion, or 59 cents per share, in the same quarter a year earlier.
July 22- Health insurer Centene Corp reported a 24 percent jump in quarterly profit, beating market estimates for the sixth straight quarter, as the company's premium and services revenue surged after it expanded in Florida, Ohio and California.
RICHMOND, Va.— Altria Group on Tuesday reported net income that stayed flat in its second quarter. The Richmond, Virginia- based company reported earnings of $1.26 billion, or 64 cents per share, compared with $1.26 billion, or 63 cents per share, in the same quarter a year ago.
July 22- Harley-Davidson Inc reported a higher-than-expected quarterly profit on Tuesday but cut its full-year forecast for motorcycle shipments, citing weaker-than-expected U.S. retail sales and a delay in getting its newest bike into dealer showrooms.
July 22- Domino's Pizza Inc on Tuesday reported quarterly profit that topped Wall Street's view, boosted by strong results from overseas and its home market of the United States, where rival Pizza Hut is struggling.
NEW YORK— Verizon is reporting that its second-quarter earnings nearly doubled after securing full ownership of Verizon Wireless. That's because Verizon issued shares in February to pay Vodafone shareholders for their share of Verizon Wireless. Shares of Verizon Communications Inc. dipped more than 1 percent Tuesday before the opening bell.
July 22- U.S. small-business lender CIT Group Inc said it would buy regional lender OneWest Bank NA for $3.4 billion in cash and stock, its second deal in two months to boost its middle-market lending operations.
PHILADELPHIA— Comcast Corp.' s second-quarter net income rose 15 percent to nearly $2 billion as it added high-speed Internet customers at a faster pace than a year ago and video subscriber losses moderated. Its adjusted earnings topped Wall Street estimates, and Comcast shares rose in early premarket trading.
*EU foreign ministers meeting eyed for message to Russia. LONDON, July 22- The dollar rose to its strongest against the euro in almost six months on Tuesday ahead of U.S. inflation numbers for June which should add to a picture of growing divergence between the U.S. and European economies.
NEW YORK— CIT Group will buy privately owned OneWest Bank in a $3.4 billion cash-and-stock deal. IMB shareholders will receive $2 billion in cash and 31.3 million CIT Group shares that are currently valued at $1.4 billion. OneWest will merge with CIT Group's banking subsidiary CIT Bank, and all locations will operate under the CIT Bank sign.
BRUSSELS, July 22- European Union foreign ministers threatened Russia on Tuesday with harsher sanctions over Ukraine, but tougher talk may not be matched by much action after France's president signalled the disputed delivery of a warship to Moscow would go ahead.
WILMINGTON, Del.— DuPont Co. on Tuesday reported net income that climbed by 3.9 percent in its second quarter, matching analyst expectations. DuPont said profit increased to $1.07 billion, or $1.15 per share, from $1.03 billion, or $1.11 per share, in the same quarter a year earlier.
BRUSSELS, July 22- European Union foreign ministers threatened Russia on Tuesday with harsher sanctions over Ukraine, but tougher talk may not be matched by much action after France's president signaled the disputed delivery of a warship to Moscow would go ahead.
WASHINGTON, July 22- President Barack Obama and Vice President Joe Biden will put a spotlight on job-training programs on Tuesday as part of a White House push to boost economic opportunities for middle-class Americans, an important voting group in November elections.
*Fighting in Ukraine, Gaza adds to oil risk premium. LONDON, July 22- Brent crude steadied around $108 a barrel on Tuesday, supported by expectations of large draws in U.S. oil stockpiles and escalating geopolitical tension over Ukraine causing European foreign ministers to consider further sanctions on Russia.
LONDON, July 22- The Australian dollar rose on Tuesday, the main mover on developed world currency markets, after the country's central bank chief said he was happy with current interest rate levels and made no attempt to talk down the currency.
HONG KONG, July 22- Hong Kong's benchmark index jumped to its highest in nearly 7-1/ 2 months on Tuesday, helped by stronger Chinese markets on the mainland and recent fund inflows which pushed up the territory's blue-chip stocks. Tencent Holdings spiked 2.1 percent, partly lifted by peer Baidu's record high close in New York.
*Fighting in Ukraine, Gaza adds to oil risk premium. SINGAPORE, July 22- Brent crude edged up towards $108 a barrel on Tuesday, pushed higher by escalating geopolitical tension over Ukraine and expectations of large draws in U.S. oil stockpiles.
HONG KONG, July 22- Hong Kong's benchmark index reached its highest level in more than seven months early on Tuesday, leading gains in Asia, as recent fund inflows pushed up the territory's blue-chip stocks. Also pushing up the index were moves by investors to cover their short positions in the absence of negative news from China.
*Fighting in Ukraine, Gaza adds to oil risk premium. "There is a lot of tough talk going on at the moment and the potential is there for further sanctions on Russia, which would have an impact across energy markets," said Ben Le Brun, a market analyst at Sydney- based trader OptionsXpress.