Pardus ups Valeo stake to over 18 percent

(Reuters) - Pardus principal Karim Samii and Valeo chairman and chief
executive Thierry Morin could meet soon as part of Valeo's
roadshow following the first-half results.




Samii said after the May 21 annual meeting he could raise
the stake to 20 percent.


Read more at Reuters.com Mergers News

US STOCKS-Futures extend gains on PCE data

(Reuters) - S&P 500 futures were up 13 points, well above fair
value, a mathematical formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract.




Dow Jones industrial average futures rose 104
points, and Nasdaq 100 futures were up 18 points.


Read more at Reuters.com Bonds News

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.


Read more at Reuters.com Bonds News

UPDATE 1-U.S. core inflation rose 0.1 percent in June

(Reuters) - Analysts polled by Reuters were expecting the core price
index to gain 0.2 percent on the month.




In the same report, the government said that, in seasonally
adjusted data, personal income rose 0.4 percent while personal
spending rose a less-than-forecast 0.1 percent, the weakest
showing since a drop in spending in September of last year.


Read more at Reuters.com Economic News

Regal-Beloit second-quarter earnings rise

(Reuters) - Quarterly net sales rose 5.6 percent to $459.8 million.




Analysts on average were expecting second-quarter earnings
of $1.04 a share, before special items, on revenue of $456.6
million, according to Reuters Estimates.



Read more at Reuters.com Market News

Merrill eyes new China partner for JV

(Reuters) - Merrill Lynch signed a non-legal binding agreement in 2005 with Huaan Securities, based in the eastern province of Anhui, and the Chinese broker had agreed to be responsible for seeking government approval, the sources said.




However, they failed to win Beijing's greenlight for the planned venture partly because Chinese securities regulator launched a national campaign in late 2005 to restructure its brokerage sector, once in deep financial trouble, putting Merrill Lynch's plan on hold at the time, the sources said.


Read more at Reuters.com Government Filings News

Liz Claiborne quarterly profit falls

(Reuters) - Excluding items, profit was 26 cents per share for Liz
Claiborne, whose namesake designer died last month after
battling cancer.




The company is hoping that by focusing now on just four
brands it can ignite profits, which have tumbled due to a
squeeze on moderate apparel brands and falling demand for its
traditional upscale brands.


Read more at Reuters.com Market News