UPDATE 1-Rally in US credit markets builds on Monday gains

(Reuters) - The main index of investment-grade credit default swaps
tightened 7 basis points to 61 basis points, while an index of
high-volatility names tightened 23 basis points to 148 basis
points.




"The sort of widening that we saw last Wednesday, Thursday
and Friday -- not only was it irrational, but also completely
unsustainable," an analyst at a major Wall Street firm said.


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UPDATE 3-Bancrofts, News Corp. wrangle over Dow Jones price

(Reuters) - By Megan Davies and Robert MacMillan



NEW YORK, July 30 - Rupert Murdoch's News Corp. appeared close to gaining sufficient approval for its $5 billion bid for Dow Jones & Co from the Bancroft family, The Wall Street Journal said, ahead of a Monday deadline for responding to the offer.


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JGBs sit tight on BOJ rate concerns, aution eyed

(Reuters) - A slide in U.S. Treasuries also discouraged investors from
picking up JGBs. On Monday, a rebound on Wall Street prompted
bond investors to sell Treasuries and take back some gains from a
bond rally last week.




"Market participants think it is getting easier for the BOJ
to hike interest rates as U.S. markets have started to
stabilise," said Tatsuo Ichikawa, chief JGB strategist at ABN
Amro.


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Global financial markets stabilize after tremble

(Reuters) - Earlier, world stocks hit a 6-week low while credit spreads and emerging sovereign bond spreads burst wider as fears grew that a U.S. housing fallout might trigger a global credit crunch.




But European shares have since erased losses as auto shares rallied following strong Volkswagen results. U.S. stock futures pointed to a firmer open on Wall Street after it suffered the biggest fall since February.


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Metals steady as credit risks balance strike action

(Reuters) - Copper steadied on Friday as fears of credit risk in global markets were balanced by industrial action in the world's top copper producer.

Asian shares lost ground, tracking overnight losses in Wall Street as fears grew that a U.S. housing fallout might trigger a global credit crunch.


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GLOBAL MARKETS-Stocks, dollar stabilise after battering

(Reuters) - Credit spreads narrowed after blowing out earlier this week
on troubles at the U.S. high-risk subprime mortgage sector. U.S.
stock futures pointed to a firmer open on Wall Street a day
after posting their worst one-day performance since March.




The FTSEurofirst 300 index turned slightly into
positive territory after hitting a one-month low. U.S. stock
futures also rose after Web retailer Amazon.com
reported strong profit and raised its outlook.


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Quest Diagnostics earnings rise

(Reuters) - Quarterly profit rose to $141.3 million or 73 cents per share, compared with $132 million or 66 cents per share a year ago.



Wall Street analysts had on average been forecasting 69 cents per share, according to Reuters Estimates.


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US STOCKS-Futures slip; DuPont, Texas Instruments weigh

(Reuters) - In one of the heaviest reporting days on the calendar,
DuPont, the No. 2 U.S. chemical company, posted quarterly
profit that missed Wall Street's forecasts. For details, see
[ID:nN24408959].




DuPont joins Caterpillar among components of the
Dow industrials whose profits have fallen short of estimates,
raising concerns that equities can sustain their steady climb
that drove the Dow to 14,000 for the first time last week.


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American Home Mortgage won't comment about stock activity

(Reuters) - The exchange said American Home stated that its policy is not
to comment on unusual market activity or rumors.




American Home's shares fell as much as 23.3 percent on
Thursday on a rumor that a Wall Street investment firm had
withdrawn a credit facility, analysts said.


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Google net profit falls short of Wall St consensus

(Reuters) - Gross revenue rose 58 percent to $3.87 billion -- matching Wall Street's consensus forecast.




Wall Street was looking for a net profit, on average, of $3.01 per diluted share, according to Reuters Estimates. Excluding one-time items and stock option expenses, the consensus analyst forecast was $3.59 per share.


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Bank of America net up 5 percent, tops views

(Reuters) - Second-quarter net income increased to $5.76 billion, or $1.28 per share, from $5.48 billion, or $1.19 a share, a year earlier.




Excluding items, profit was $1.30 per share, 10 cents above the average analyst expectation, according to Reuters Estimates. Revenue rose 7 percent to $19.56 billion, topping the average Wall Street estimate of $18.49 billion.


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UPDATE 2-Dow Jones quarterly profit falls, hurt by charges

(Reuters) - NEW YORK, July 19 - Dow Jones & Co. Inc. , which soon could be bought by News Corp. for $5 billion, said one-time charges lowered quarterly profit, while its digital business pushed up revenue despite lower ad sales at its flagship Wall Street Journal.



Second-quarter profit fell to $21 million, or 25 cents a share, from $28.8 million, or 34 cents a share, a year earlier.


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Manpower earnings double as European demand strong

(Reuters) - Analysts, on average, had expected profit of $1.20 per
share, according to Reuters Estimates.




Revenue was up 13.6 percent to $5.0 billion, in line with
Wall Street forecasts.



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Dow Jones quarterly profit falls, revenue rises

(Reuters) - NEW YORK, July 19 - Dow Jones & Co. Inc. , which soon could be bought by News Corp. for $5 billion, said one-time charges lowered quarterly profit, while its digital business pushed up revenue despite lower ad sales at its flagship Wall Street Journal.



Second-quarter profit fell to $21 million, or 25 cents a share, from $28.8 million, or 34 cents a share, a year earlier.


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UPDATE 1-JPMorgan's Dimon slams "equity bridge loans"

(Reuters) - NEW YORK, July 18 - JPMorgan Chase & Co.
Chairman James Dimon on Wednesday called the practice loaning
cash upfront on leveraged buyout deals a terrible idea.




Dimon, one of Wall Street's most influential bankers,
criticized so-called equity bridges during a conference call
with analysts and investors.


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US shares extend losses on Bernanke testimony

(Reuters) - U.S. stocks added to losses on Wednesday as Federal Reserve Chairman Ben Bernanke's comments to Congress about the economy, inflation and housing added to Wall Street jitters.

In addition, Bernanke said the Fed expects to see economic growth expand at 2.25 percent to 2.5 percent this year and 2.5 percent to 2.75 percent in 2008, one-quarter percentage point below the Fed's estimate six months ago.


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FEATURE-European traders brace for man vs machines war

(Reuters) - Complex algorithmic computer systems -- designed to monitor
thousands of stocks and independently identify and execute
orders in milliseconds -- are revolutionising Wall Street and
demand is quickly catching up across the Atlantic.




"We're looking to take humans out of the equation where it
makes sense," said John Lowrey, European head of execution
services at Lehman Brothers, striding past hundreds of dealers
glued to their screens on the bank's vast London trading floor.


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Dow Jones board member moves to block News Corp-WSJ

(Reuters) - News Corp., owner of Fox News, the New York Post and a
sprawling media empire, has offered $5 billion, or $60 a share,
for Dow Jones, the publisher of the Wall Street Journal.




Bancroft is trying to buy more "supervoting" shares from
other Bancroft heirs who may be ready to sell their stakes but
share his distaste for handing the family legacy to Murdoch,
the Journal said.


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Yum Brands 2nd-quarter earnings rise

(Reuters) - Wall Street analysts, on average, had expected earnings of
36 cents per share, according to Reuters Estimates.




Yum shares rose 4.9 percent on Wednesday to close at $34.41
on the New York Stock Exchange after UBS analyst David Palmer
upgraded his rating on the stock to "buy" from "neutral."


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S.African stocks push higher as miners shine

(Reuters) - South African stocks marched higher on Wednesday as a weaker rand and buoyant global demand boosted diversified miners and a brighter start on Wall Street lifted broader sentiment.

The Johannesburg Top-40 index of blue-chip stocks gained 0.85 percent to 26,883.91 points while the All-share index climbed 0.65 percent to 29,643.36 points.


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