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Top News & Analysis New York City

  • NEW YORK— Union Pacific Corp. reported a boost in second-quarter profit on Thursday as coal and industrial product shipments pushed revenue higher. Union Pacific's profit jumped 19 percent to $1.17 billion, or $1.45 per share. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share, while eight analysts...

  • July 20- Ironwood Pharmaceuticals Inc said on Thursday its potential blockbuster drug for gastroesophageal reflux disease not controlled by current medicines significantly reduced heartburn severity and regurgitation frequency, meeting the main goals of a midstage trial. In the eight-week, 282- patient trial the experimental drug, IW-3718, was given on...

  • NEW YORK _ Scholastic Corp. on Thursday reported fiscal fourth-quarter net income of $39.4 million. The New York- based company said it had profit of $1.10 per share. Scholastic expects full-year earnings in the range of $1.20 to $1.30 per share, with revenue in the range of $1.65 billion to $1.7 billion.

  • NEW YORK _ Blackstone Group L.P. on Thursday reported second-quarter earnings of $342.8 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share. Blackstone Group shares have risen 29 percent since the beginning of the year.

  • July 20- Omnicom Group Inc reported better-than-expected quarterly revenue and profit on Thursday as the No.1 U.S. advertising company benefited from higher spending by businesses in Europe and UK. The company said organic revenue grew 9.3 percent in UK and 7.8 percent in Europe in the second quarter ended June 30. New York- based Omnicom, whose clients include...

  • NEW YORK _ The Travelers Cos. on Thursday reported second-quarter profit of $595 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share. Four analysts surveyed by Zacks expected $6.94 billion.

  • NEW YORK— Philip Morris International Inc. missed profit forecasts as demand for traditional cigarettes continues to dry up with smokers either quitting or opting for alternative products. For the quarter ended in June, the New York- based company said it earned a profit of $1.14 per share, compared with $1.15 per share for the same period last year.

  • NEW YORK _ Bank Of New York Mellon Corp. on Thursday reported second-quarter earnings of $975 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share. Bank of New York Mellon shares have climbed 12 percent since the beginning of the year, while the Standard& Poor's 500 index has climbed 10...

  • July 20- Omnicom Group Inc, the No.1 U.S. advertising company, reported a 2.4 percent decline in quarterly revenue on Thursday, hurt by slower growth in North America. Revenue fell to $3.79 billion in the second quarter ended June 30, from $3.88 billion a year earlier. New York- based Omnicom, whose clients include Apple Inc, McDonald's Corp and Adidas, said net income...

  • NEW YORK _ Omnicom Group Inc. on Thursday reported second-quarter net income of $328.1 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share. Omnicom shares have declined 5 percent since the beginning of the year, while the Standard& Poor's 500 index has climbed 10 percent.

  • *Geographic focus includes China, India, SE Asia, Korea- source. "The fund will mainly look at China, India, Southeast Asia, Australia and Korea, and could be planning to invest in Japan as well," this person said, adding that Blackstone's global private equity fund will also contribute around 40 percent to the investments that the Asia fund makes. Last month, KKR& Co closed...

  • *China business had over $3.5 bln revenue last year. *Cardinal sale move comes amid China drug distribution reform. HONG KONG, July 20- U.S. drug distributor Cardinal Health has put its China business up for sale, drawing keen interest from state-backed Chinese pharmaceutical firms in a deal that may be worth up to $1.5 billion, sources familiar with the matter said.

  • *Geographic focus includes China, India, SE Asia, Korea- source. "The fund will mainly look at China, India, Southeast Asia, Australia and Korea, and could be planning to invest in Japan as well," this person said, adding that Blackstone's global private equity fund will also contribute around 40 percent to the investments that the Asia fund makes. Last month, KKR& Co closed...

  • BHP has signaled it may push ahead with its long-dormant Jansen potash mine in Canada in a counter-cyclical play to capture part of what it sees as a $50 billion- a-year market by the mid 2040 s. Jansen is already under construction but requires BHP's board to approve another $4.7 billion to bring the mine into production. Chief Executive Andrew Mackenzie said in...

  • July 20- Big Wall Street banks have spent billions of dollars and untold man-hours in recent years transforming their trading desks from hedge-fund like operations trading on their own account into market-making businesses offering a price based on what customers want to buy or sell. Goldman Sachs Group Incs second-quarter results, which saw earnings rise...

  • The collection bag, used by astronaut Neil Armstrong during the first manned mission to the moon in 1969, will be featured Thursday at a Sotheby's auction in New York City of items related to space voyages. NASA fought to get it back. Investigators unknowingly hit the moon mother lode in 2003 while searching the garage of a man later convicted of stealing and...

  • Health care companies including Abbott Laboratories are rising as investors focus on quarterly results, while weaker reports are putting a dent in industrial and basic materials companies. HEALTHY, WEALTHY: Abbott Laboratories, which makes infant formula, drugs and medical devices, gained $1.55, or 3.1 percent, to $50.98 after reporting results that were...

  • Spanish-language broadcaster Univision Communications Inc held early-stage talks with John Malone's Liberty Media Corp, after he expressed interest in an acquisition or significant investment, a person familiar with the matter said on Wednesday. Liberty Media has investments across the media industry, including telecommunications company Charter...

  • **TOKYO- Bank of Japan Governor Haruhiko Kuroda holds a news conference after their policy decision 0630 GMT. FRANKFURT- ECB Governing Council meeting, followed by interest rate announcement. FRANKFURT- ECB President Mario Draghi holds a press conference following the Governing Council meeting and the interest rate meeting- 1330 GMT.

  • **TOKYO- Bank of Japan Governor Haruhiko Kuroda holds a news conference after their policy decision 0630 GMT. FRANKFURT- ECB Governing Council meeting, followed by interest rate announcement. FRANKFURT- ECB President Mario Draghi holds a press conference following the Governing Council meeting and the interest rate meeting- 1330 GMT.