US STOCKS-Futures fall on Caterpillar, Google earnings

(Reuters) - NEW YORK, July 20 - U.S. stock index futures fell
on Friday, with the Dow poised to be knocked back below its
14,000 milestone, after bellwether stocks Caterpillar Inc.
and Google Inc posted disappointing earnings.




Caterpillar, the maker of heavy construction equipment,
said quarterly earnings fell more than expected due to a sharp
drop in sales of diesel truck engines and weakness in North
American construction. For details, see [ID:nL20191126].


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Cardtronics, Union Pacific Sell Bonds as U.S. Debt Sales Slump 81 Percent

(Bloomberg) -- Cardtronics Inc., the largest
operator of automated-teller machines in the U.S., and railroad
Union Pacific Corp. led borrowers selling $2.8 billion of notes
this week, the second-slowest this year, as issuance fell 81
percent from a year ago.

Sales compare with a weekly average of $24.7 billion,
according to data compiled by Bloomberg. Houston-based Cardtronics
raised $100 million after cutting the offering from $125 million,
becoming the first U.S. borrower this month to issue high-yield
debt. Union Pacific, the largest U.S. railroad, sold $479 million
of pass-through certificates after reporting profit that beat
analysts' expectations.


Read more at Bloomberg Bonds News

Wachovia quarterly profit rises 24pct

(Reuters) - NEW YORK, July 20 - Wachovia Corp. , the fourth-largest U.S. bank, said on Friday its second-quarter profit rose 24 percent, helped by growth in lending and the purchase of Golden West Financial Corp.



Net income for the Charlotte, North Carolina-based company was $2.34 billion, or $1.22 per share, up from $1.88 billion, or $1.17 a share, a year earlier.


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AstraZeneca seen frontrunner to buy Acadia drug

(Reuters) - LONDON, July 20 - AstraZeneca Plc is a frontrunner to buy rights to U.S-based Acadia Pharmaceuticals Inc.'s experimental schizophrenia drug pimavanserin, the Anglo-Swedish group's house broker said on Friday.



Mark Purcell, an analyst at Deutsche Bank, believes AstraZeneca is in a strong position to license the product, which is also known as ACP-103, in the second half of this year.


Read more at Reuters.com Mergers News

ImaRx Therapeutics sees IPO price to be lower at $5/shr

(Reuters) - The Tucson, Arizona-based company told the U.S. Securities
and Exchange Commission that Maxim Group LLC and I-Bankers
Securities Inc. were underwriting the IPO.




The company has applied for a Nasdaq listing under the
symbol "IMRX."



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Treasuries Advance on Speculation Subprime Losses to Damp Economic Growth

(Bloomberg) -- Treasuries climbed on speculation
rising subprime mortgage defaults will worsen a slowdown in the
housing market and curb economic growth.

U.S. 10-year notes headed for a second weekly gain as funds
including two at Bear Stearns Cos. incurred losses on securities
backed by home loans. Federal Reserve Chairman Ben S. Bernanke
said losses on investments linked to mortgages given to people
with poor credit histories may total $100 billion. The risk of
owning European corporate bonds rose to a two-year high today.


Read more at Bloomberg Bonds News

Whirlpool posts higher quarterly profit

(Reuters) - Pathmark, which operates stores in New Jersey, New York and Pennsylvania, posted a profit of $1.7 million, or 3 cents per share, compared with a loss of $14.6 million, or 28 cents per share, a year earlier. Sales stood at $1,078.5 million, compared with $993.3 million a year ago.



Analysts, on average, expected the Carteret, New Jersey-based grocer to post a loss of 3 cents per share, before special items, according to Reuters Estimates.


Read more at Reuters.com Market News