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July 31- T-Mobile US Inc on Thursday posted its first net profit in a year, raised its forecasts for subscriber growth and reported the most postpaid phone subscriber additions in the industry. The company reported net income of $391 million, or 49 cents per share, compared with a year-earlier loss of $16 million, or 2 cents per share.
*Q2 EPS ex-items $1.23 vs $1.22 forecast. *Now sees 2014 EPS $4.50- $4.80 with Copaxone competition. TEL AVIV, July 31- Teva Pharmaceutical Industries raised its full-year profit forecast on Thursday after posting higher quarterly earnings that were due in part to the launch of several generic products in the United States.
*Investors fret over Argentina default fallout. NEW YORK, July 31- U.S. stocks slumped in a broad decline on Thursday, with the Dow and S&P 500 turning negative for July on concerns over the strength of overseas economies and ongoing tensions with Russia.
MOSCOW, July 31- For all the sanctions Western leaders can throw at Russia, the biggest threat to President Vladimir Putin's ability to back separatists in east Ukraine is something beyond his or their control: the price of oil.
WASHINGTON— Average U.S. mortgage rates declined slightly this week, hovering near their lows for the year. Mortgage company Freddie Mac says the nationwide average for a 30- year loan slipped to 4.12 percent from 4.13 percent last week.
NEW YORK— Stocks are opening lower as investors react to more disappointing earnings from companies. L-3 Communications Holdings plunged 14 percent, the most in the Standard& Poor's 500 index, after the company reported that it was investigating accounting irregularities at is Aerospace Systems unit.
BUENOS AIRES, July 31- Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, as focus turned to whether big banks and funds would request the declaration of a "credit event".
July 31- Auto-parts maker BorgWarner Inc's full-year profit forecasts fell short of analyst expectations, sending its shares down 4 percent in early trading. BorgWarner raised its 2014 profit forecast for the second time in six months, to $3.25- $3.35 per share, from its previous forecast range of $3.15- $3.30 per share.
BLOOMFIELD, Conn.— Cigna's second-quarter profit rose 13 percent to top Wall Street expectations as the health insurer collected more in fees and premiums. Cigna lifted its adjusted earnings projections for the year to between $7.20 and $7.40, up from a range of $7.05 to $7.35 a share earlier this year.
*Yield curve steepens from five-year lows. NEW YORK, July 31- U.S. "Starting with GDP yesterday, it certainly set things off," said Ira Jersey, an interest rate strategist at Credit Suisse in New York.
NEW YORK— Ariana Grande is the new princess of pop, topping the charts with her addictive single "Problem," impressing critics with her thick, gliding vocal range and maintaining an image that her young Nickelodeon fans can vibe with, signature ponytail and all.
July 31- Bunge Ltd, one of the world's largest agricultural trading houses, on Thursday reported higher-than-expected second-quarter earnings as strong demand and record large soybean crops in the Southern Hemisphere bolstered oilseed processing margins.
The Labor Department said Thursday that applications for jobless aid increased 23,000 to a seasonally adjusted 302,000. The less volatile four-week moving average dipped to 297,250, the lowest reading since April 2006. New York: Down 18,663, due to fewer layoffs in education, transportation and warehousing, and health care and social assistance.
NEW YORK— Colgate-Palmolive Co. on Thursday reported profit that increased by 11 percent in its second quarter. The New York- based company said earnings increased to $622 million, or 67 cents per share, from $561 million, or 60 cents per share, in the same quarter a year earlier.
*Investors fret over Argentina default fallout. NEW YORK, July 31- U.S. stock index futures pointed to a sharply lower Wall Street open Thursday, with the Dow and S&P 500 likely to turn negative for the month on concerns over the strength of overseas economies and ongoing tensions with Russia.
*IMF flags China property sector risks. LONDON, July 31- Zinc lost ground on Thursday after inventories rose, highlighting an overhang of supplies that analysts say needs to be eroded before expected shortages kick in.
SILVER SPRING, Md.— Discovery Communications Inc. on Thursday reported profit that increased by 26 percent in its second quarter, and topped analysts' expectations. The Silver Spring, Maryland- based company said profit increased to $379 million, or $1.09 per share, from $300 million, or 82 cents per share, in the same quarter a year ago.
July 31- Kellogg Co, the world's largest maker of breakfast cereal, reported its fifth straight decline in quarterly U.S. cereal sales and said it no longer expects full-year internal sales to rise. The company cut its adjusted earnings forecast for the year ending December to between $3.81 and $3.89 per share from between $3.89 and $3.97.
HOUSTON— ConocoPhillips on Thursday reported net income that increased by 1.5 percent in its second quarter. The Houston- based company said profit increased to $2.08 billion, or $1.67 per share, from $2.05 billion, or $1.65 per share, in the same quarter a year ago.
July 31- U.S. oil and gas company Apache Corp, under pressure from activist investor Jana Partners, said on Thursday it plans to sell its interest in two liquefied natural gas projects, and reported lower quarterly profit.