Gold Price Gains as Recent Decline Seen as Excessive; Spot Silver Advances

(Bloomberg) -- Gold in Asia rose as some investors
bet that the previous day's fall, prompted by the dollar's
advance against the euro, was overdone. Silver also gained.

Spot gold fell 0.9 percent yesterday, the most since June
26, as the dollar gained the most against the euro in a year,
reducing the metal's appeal as an alternative investment.


Read more at Bloomberg Commodities News

China's Debt Rating Raised to A1 by Moody's on Foreign Reserves, Economy

(Bloomberg) -- China's debt rating was upgraded by
Moody's Investors Service, citing the country's swelling
foreign-currency reserves, surging exports and improvements to
the banking system.

The country's long-term foreign-currency rating jumped to
A1, the fifth-highest ranking, from A2, the ratings company said
in a statement today.


Read more at Bloomberg Emerging Markets News

Australia Will Consider Selling Uranium to India, Industry Minister Says

(Bloomberg) -- Australia will consider exporting
uranium to India, said Industry Minister Ian Macfarlane.

A final decision on selling the nuclear fuel has yet to be
made, Macfarlane said today at a uranium conference in
Fremantle, Western Australia.


Read more at Bloomberg Commodities News

Datang Power to Issue 5.8 Billion Bonus Shares to Boost Capital, Liquidity

(Bloomberg) -- Datang International Power Generation
Co., the biggest Hong Kong-listed Chinese electricity producer by
market value, plans to hand 5.8 billion bonus shares to investors,
doubling the amount of stock available for trading.

Datang Power will issue 4.2 billion yuan-denominated so-
called A shares in Shanghai, and 1.6 billion overseas-listed H
shares, the Beijing-based utility said in a statement to the Hong
Kong Stock Exchange last night.


Read more at Bloomberg Emerging Markets News

UPDATE 2-M.D.C Holdings posts 2nd-qtr loss, lags view

(Reuters) - The Denver-based company posted a net loss of $106.1
million, or $2.32 a share, compared with net income of $76.5
million, or $1.66 a share, a year earlier.




The result includes pretax charges of $161.1 million for
asset impairments and $6.4 million for write-offs of deposits
and pre-acquisition costs associated with land option contracts
that it does not intend to pursue.


Read more at Reuters.com Bonds News

Morinaga Milk, Mobile-8 Telecom, Hong Long, Tobu Railway: Asia Bond Alert

(Bloomberg) -- PT Mobile-8 Telecom, an Indonesian
mobile-phone operator that counts Qualcomm Inc. as an investor,
and Hong Long Holdings Ltd., a Chinese developer, are among
borrowers seeking to sell at least $5.6 billion of bonds in Asia,
according to data compiled by Bloomberg.

Governments and companies in Asia sold $43.8 billion of
debt denominated in dollars, euros and yen this year, up from
$38.2 billion a year earlier, Bloomberg data show. Sales of
Samurai bonds, yen debt sold by foreign entities in Japan, rose
to 1.4 trillion yen ($11.7 billion), from 741 billion yen in the
whole of 2006.


Read more at Bloomberg Bonds News

Cabot third-quarter profit falls

(Reuters) - Net sales and other operating revenues fell to $649 million
from $666 million in the year-ago quarter.




Analysts, on average, had expected a profit of 41 cents per
share on sales of $679.1 million, according to Reuters
Estimates.



Read more at Reuters.com Market News

UPDATE 2-Symantec results beat forecasts, shares soar

(Reuters) - BOSTON, July 25 - Symantec Corp. , the
maker of Norton software, reported higher-than-expected
quarterly profit on Wednesday, citing strong sales of backup
software programs and success in cutting costs, and its shares
soared 10 percent.




Chief Financial Officer James Beer partly attributed the
better-than-expected results to sales of the company's Backup
Exec software, one of its top-selling titles, which he said
totaled about $200 million during the quarter.


Read more at Reuters.com Market News

U.S. Xpress reports lower quarterly profit

(Reuters) - Quarterly revenue rose to $400.3 million.




The company also said that it has appointed a special
committee of independent directors to evaluate a tender offer
made by co-Chairmen Max Fuller and Pat Quinn on June 22 for all
of its outstanding Class A common stock at $20 per share.


Read more at Reuters.com Mergers News

South Korean Won Falls Most in a Month; Finance Minister Predicts Decline

(Bloomberg) -- The South Korean won declined the
most in more than a month after Finance Minister Kim Sung Jin
said the currency is poised to drop from its strongest since
1997 as the current-account surplus shrinks.

``The won is overly highly valued and that's the view
shared among the government, the Bank of Korea,'' and other
research agencies, Seoul-based Kim said in a phone interview
yesterday. ``The chance of currency depreciation is greater than
for appreciation.''


Read more at Bloomberg Currencies News

Nikkei down 0.3 pct as Canon, tech stocks fall

(Reuters) - The broader TOPIX index shed 0.16 percent to 1,751.25.




Read more at Reuters.com Hot Stocks News

UPDATE 3-Qualcomm posts higher profit, raises outlook

(Reuters) - NEW YORK, July 25 - Qualcomm Inc posted
a quarterly profit that rose 24 percent on Wednesday, handily
beating Wall Street estimates on strong demand for high-end
mobile phones using its chips and technology licenses.




Its shares rose as much as 3.5 percent in after hours trade
after the company also raised its full-year earnings and
revenue outlook on rising average phone prices.


Read more at Reuters.com Market News

Nikkei seen opening lower, eyes on Sunday election

(Reuters) - Nomura, Japan's largest brokerage, posted a surprise quadrupling of quarterly net profit on Wednesday on strong sales of investment trusts and several major deals, but said it may pull out of the troubled U.S. mortgage market.




"Despite a fall in Chicago futures, Apple's strong results will likely provide some support to the market, and investors may focus on NAND flash maker Toshiba," said Norihiro Fujito, general manager of Mitsubishi UFJ Securities' investment research and information division.


Read more at Reuters.com Hot Stocks News

Voltaire's IPO prices at $9-underwriter

(Reuters) - Earlier on Wednesday Voltaire registered its IPO at a price
of $9 to $11 per share, lowering it from the previous estimate
price of between $12 and $14 per share.




The company said it has applied for listing on Nasdaq under
the symbol "VOLT."


Read more at Reuters.com Bonds News

Japanese Bonds May Decline as Yields Near Seven-Week Low to Deter Buyers

(Bloomberg) -- Japanese bonds may fall on concern
10-year yields near the lowest in almost seven weeks will
discourage investors from buying before a government auction.

A rebound in U.S. stocks may help push up the Nikkei 225
Stock Average from its lowest close in almost a month yesterday,
reducing demand for the safety of government debt. The yield
premium of 20-year bonds relative to five-year notes is near the
highest since May on speculation traders will sell the longer-
dated debt to protect against possible losses at an auction of
the securities today.


Read more at Bloomberg Bonds News

UPDATE 1-Conceptus Q2 loss narrows, 2007 outlook disappoints

(Reuters) - The company expects loss of $7.6 million to $10 million for
2007, compared with its previous expectation of a loss of $6.3
million to $7.1 million.




Conceptus cut its sales outlook for the year to a range of
$62 million to $65 million, from a range of $66 million to $68
million.


Read more at Reuters.com Market News

UPDATE 1-Charlotte Q3 earnings jump, sees Q4 below Street view

(Reuters) - Shares of the company fell more than 7 percent to $20.75 in
late electronic trade, after closing at $22.32 on Wednesday on
the Nasdaq.




The company forecast fourth-quarter earnings from
continuing operations of 34 cents to 37 cents a share, below
analysts' average estimate of 49 cents a share, before special
items.


Read more at Reuters.com Market News

UPDATE 1-Advanced Energy quarterly earnings fall

(Reuters) - The company, whose products are used to make
semiconductors, flat panel displays and solar cells, also
guided third-quarter below analysts' view.




Shares of Advanced Energy fell more than 6 percent to
$21.70 in late electronic trade, after closing at $23.14 on the
Nasdaq.


Read more at Reuters.com Market News

Baxter says FDA considers pump recall serious

(Reuters) - Baxter said all affected customers have been notified and
that to date no serious injuries or patient deaths have been
associated with the devices.




Read more at Reuters.com Government Filings News

Australia Dollar Holds Near 18-Year High on August Interest-Rate Rise Bets

(Bloomberg) -- The Australian dollar traded close
to an 18-year high on bets the central bank will raise the
interest rate next month, making the country's bond yields more
attractive for overseas investors.

The local dollar has gained against all 16 most-active
currencies this month as the odds of the Reserve Bank of
Australia raising rates a quarter-point on Aug. 8 climbed to 79
percent from 5 percent at the end of June, according to a Credit
Suisse Group index based on the exchange of interest-rate swaps.
Traders added to bets after a report yesterday showed inflation
was faster than expected in the second quarter.


Read more at Bloomberg Currencies News

RPT-UPDATE 3-Intesa in CariFirenze bid for more than 4 bln euros

(Reuters) - By Gilles Castonguay




MILAN, Italy, July 25 - Italian banking giant Intesa
Sanpaolo said late on Wednesday it would go ahead with
its offer to take over CariFirenze in a cash and stock
deal valuing the smaller peer at 5.4 billion euros.


Read more at Reuters.com Mergers News

UAW union members approve deal with Dana

(Reuters) - UAW members approved the deal by an 86 percent vote. It
covers more than 2,300 members and 6,200 retirees at eight Dana
locations in Indiana, Kentucky, Michigan, Missouri, Ohio,
Pennsylvania and Texas, the UAW said.




The deals include establishment of trusts to cover union
retiree health care and long-term worker disability. Dana will
contribute $704 million cash and $80 million common stock in
the reorganized company to cover about $1.1 billion in unfunded
nonpension benefit and long-term disability obligations.


Read more at Reuters.com Bonds News

Cotton Rises on Speculation Overseas Mills Buying After U.S. Rally Ends

(Bloomberg) -- Cotton rose for the third straight
day in New York on speculation overseas mills are scooping up
U.S. supplies of the fiber after a six-week rally ended.

Futures on July 16 reached the highest price for a most-
active contract since March 2004 on speculation U.S. exports in
the next marketing year would rise as production falls. Cotton
fell 8.3 percent last week, making supplies more affordable in
the U.S., the world's biggest exporter.


Read more at Bloomberg Commodities News

Reliance's Kela Has `Rock Star' Image as Indian Funds Attract Investors

(Bloomberg) -- When Indian money manager Madhusudhan
Kela goes out marketing his funds, he gets cheers as well as
cash.

His 39 billion-rupee ($973 million) Reliance Growth Fund is
the top performer in the country this year, advancing 23 percent,
and ranks No. 1 among similar funds in the world by Lipper Inc.
based on its returns during the past five years.


Read more at Bloomberg Stocks News

AllianceBernstein 2nd qtr per-share net $1.16

(Reuters) - It said it expects to earn $4.90 to $5.25 per unit in the
full year of 2007.




Analysts were expecting average earnings of $1.08 cents a
share, according to a survey of eight analysts compiled by
Reuters Estimates.


Read more at Reuters.com Market News

Huttig posts lower quarterly profit

(Reuters) - Second quarter revenues fell to $239.5 million from $296.3
million a year earlier.




Read more at Reuters.com Market News

CORRECTED-Airgas first-quarter earnings rise by 34 pct

(Reuters) - Net income rose to $51.7 million, or 63 cents a share,
compared with a year-ago profit of $38.7 million, or 48 cents a
share, the industrial gas distributor said.




Analysts, on average, had forecast earnings of 62 cents a
share, according to Reuters Estimates.



Read more at Reuters.com Market News

Charlotte Russe quarterly earnings jump

(Reuters) - Analysts on average had expected the company to earn 43
cents a share, excluding special items, on revenue of $187.2
million, for the quarter, according to Reuters Estimates.





Read more at Reuters.com Market News

UPDATE 1-STATS ChipPAC quarterly profit falls

(Reuters) - The Singapore-based company posted a second-quarter net
profit of $7.4 million, or 4 cents per diluted American
Depositary Share , compared with a net profit of $18
million, or 9 cents per share, in the year-earlier quarter.




Revenue fell 12 percent to $370.2 million.


Read more at Reuters.com Market News

RPT-Symantec CFO sees room for additional cost savings

(Reuters) - Beer made the comments after the company reported
higher-than-expected quarterly profit.




He attributed the better-than-expected results to sales of
Symantec's Backup Exec software, which he said totaled about
$200 million during the quarter.



Read more at Reuters.com Market News

E*Trade 2nd-quarter profit rises

(Reuters) - NEW YORK, July 25 - Online bank and brokerage E*Trade Financial Corp posted a higher quarterly profit on Wednesday as individual client assets grew six-fold.



Net income for the second quarter rose to $159 million, or 37 cents per share, from $156 million, or 36 cents per share, a year earlier.


Read more at Reuters.com Market News

UPDATE 1-Chile's LAN Airlines H1 profit rises 34 pct

(Reuters) - LAN, one of the biggest airlines in Latin America, with
affiliates in Ecuador, Peru and Argentina, said profit in the
January-June period rose to $128.7 million from $96.1 million.




Company revenue jumped 13 percent to $1.6 billion on a 21
percent rise in passenger revenue and a 1.9 percent increase in
cargo.


Read more at Reuters.com Market News

Newfield Exploration Q2 earnings rise

(Reuters) - Excluding the effect of unrealized commodity derivative
income, net income for the quarter would have been $114
million, or 87 cents a share, it added.





Read more at Reuters.com Market News

Boston Properties files for $752.7 mln mixed shelf

(Reuters) - Boston Properties will use the proceeds from the offering
for general corporate or partnership purposes, including the
funding of development opportunities, asset acquisitions or the
repayment of indebtedness.




Under a shelf registration, a company may sell securities
in one or more separate offerings with the size, price and
terms to be determined at the time of sale.


Read more at Reuters.com Bonds News

Mexico's peso slumps on US economy; stocks fall

(Reuters) - The peso finished local trading 0.56 percent
weaker at 10.869 per dollar, while the benchmark IPC stock
index slipped 1.14 percent to 31,103.53 points.




U.S. existing-home sales fell more than expected in June,
increasing worries about U.S. economic growth. The United
States buys nearly 90 percent of Mexican exports, and trouble
in the U.S. subprime mortgage sector has weighed on markets in
both countries in recent weeks.


Read more at Reuters.com Bonds News

UPDATE 1-US SEC settles with KLA-Tencor, charges former CEO

(Reuters) - WASHINGTON, July 25 - The U.S. Securities and
Exchange Commission said on Wednesday that it charged the
former chief executive of KLA-Tencor Corp. with fraud
for his involvement in a stock options backdating scheme.




The SEC also said it settled charges with the company for
its involvement, but was not seeking fraud charges or a
monetary penalty. The Silicon Valley semiconductor company
settled with the SEC without admitting or denying the
allegations.


Read more at Reuters.com Government Filings News

Advantest, Sony, Honda, Nomura, Elpida, Advantest: Japan Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Advantest Corp. (6857 JT): The world's biggest maker of
memory-chip testers said first-quarter net income fell 13 percent
to 9.95 billion yen after makers of memory chips for personal
computers and consumer electronics scaled back spending amid a
glut. The stock slid 10 yen, or 0.2 percent, to 5,190.


Read more at Bloomberg Stocks News

Distressed debts rose in July, but remain low -S&P

(Reuters) - The rise could be another sign that bond investors are
demanding a higher premium for holding riskier debt.




"The recent market volatility appears to have resulted in
some repricing, which surfaced most visibly at the 600
basis-point level," Diane Vazza, head of S&P's global fixed
income research group, said in a news release, referring to the
spread over U.S. Treasuries.


Read more at Reuters.com Bonds News

Mexico sees 2008 budget boosting tax take

(Reuters) - Finance Minister Agustin Carstens said Mexico needs to
increase its tax take so that it can fight poverty and improve
its infrastructure, making its economy more competitive.




Carstens also said the government needs to be more
transparent and efficient in how it spends tax payers' money.


Read more at Reuters.com Bonds News

UPDATE 1-GE issues U.S. credit card to cut emissions

(Reuters) - By Dan Wilchins and Timothy Gardner




NEW YORK, July 25 - General Electric Co.
began offering a credit card on Wednesday that will set aside
money to reduce greenhouse gases based on how much the
cardholder spends.


Read more at Reuters.com Bonds News

Apple quarterly profit rises on Mac strength

(Reuters) - "Apple destroyed numbers for this quarter. Its Mac numbers were very strong and above expectations. Guidance on the EPS was weaker than expected but the question is what are they factoring into that. Their gross margin at 37 percent was extremely strong and bodes well for HP and Dell from a commodity-price perspective," said Shannon Cross, an analyst at Cross Research.




Apple's net income for its fiscal third quarter was $818 million, or 92 cents per share, compared with $472 million, or 54 cents per share, a year earlier. Revenue was $5.41 billion, up 24 percent from $4.37 billion a year earlier.


Read more at Reuters.com Business News

JPMorgan, Goldman Bond Risk Rises as Failed Chrysler Loan Remains on Books

(Bloomberg) -- The risk of owning the bonds of
JPMorgan Chase & Co. and Goldman Sachs Group Inc. jumped after
the banks got stuck with $10 billion of Chrysler loans that
investors refused to buy.

Credit-default swaps on $10 million of JPMorgan bonds jumped
$7,000 to $50,000 as of 2:34 p.m. in New York, according to
broker Phoenix Partners Group. Goldman credit swaps surged almost
$7,000 to $68,000, the highest since November 2002. An increase
in the five-year contracts, used to bet on the company's
creditworthiness, signals deterioration in investor confidence.


Read more at Bloomberg Bonds News

UPDATE 3-Stelco posts 2nd-qtr loss but sees profit ahead

(Reuters) - TORONTO, July 25 - Stelco Inc. reported
a second-quarter loss on Wednesday due to asset impairment
charges of C$38 million and other one-time
items, but its stock rose as revenue beat expectations and the
company saw profits ahead.




The steelmaker, which is on the auction block, said it lost
C$41 million in the second quarter, compared with a loss of
C$39 million in the first quarter. The company did not provide
a per-share figure.


Read more at Reuters.com Mergers News

Orange Juice Rises on Speculation Disease, Storms May Trim Florida's Crop

(Bloomberg) -- Orange-juice futures in New York rose
on speculation diseases and storms may reduce the harvest in
Florida, the world's second-biggest producer.

``Citrus greening,'' which shrinks fruit, ruins flavor and
kills trees, was confirmed last week to have spread to Hardee
County, one of the state's largest growing regions and the 24th
county in which the disease has been found. Florida's output fell
to a 17-year low in the most recent harvest as groves were slow
to recover from hurricane damage and a disease called ``canker.''


Read more at Bloomberg Commodities News

Soybeans Fall to Four-Week Low on Speculation China's Imports May Decline

(Bloomberg) -- Soybeans fell to a four-week low in
Chicago on speculation higher prices and a fatal hog disease
will curb sales to China, the world's largest buyer of the
oilseed used to make animal feed and vegetable oil.

China's soybean imports may drop 1.4 percent to
27.9 million metric tons in the year through August, from
28.3 million tons a year ago, Shanghai JC Intelligence Co. said
yesterday in a report. The U.S. Department of Agriculture
forecast July 11 that exports to China would rise to 30 million
tons this year and 34.4 million next year.


Read more at Bloomberg Commodities News

E*Trade 2nd-qtr profit rises

(Reuters) - Net income for the second quarter rose to $159 million, or 37 cents per share, from $156 million, or 36 cents per share, a year earlier.



Excluding items, the company earned 42 cents per share.


Read more at Reuters.com Market News

Covance posts quarterly profit rise on demand

(Reuters) - That met the average forecast among Wall Street analysts of
64 cents per share, according to Reuters Estimates.




Read more at Reuters.com Market News

Fiserv quarterly results below analysts' view

(Reuters) - Adjusted earnings from continuing operations were 68 cents
a share for the quarter.




Revenue rose 12 percent to $1,180.1 million.


Read more at Reuters.com Market News

Build-A-Bear Workshop and Fortress Investment: U.S. Equity Option Movers

(Bloomberg) -- The following is a list of companies
with unusual option trading in U.S. exchanges today. Stock
symbols are in parentheses after company names. Option trading
and stock prices are as of 3:15 p.m. in New York.

Each call option gives investors the right to buy 100 shares
of a company at a certain price, called the strike price, by a
given date. A put conveys the right to sell 100 shares.


Read more at Bloomberg Stocks News

Corn Rises for Second Day as Warmer, Drier Weather May Damage U.S. Crops

(Bloomberg) -- Corn rose for a second straight
session in Chicago on speculation that drought-like weather the
past two months has damaged crops in the U.S., the world's
largest grower and exporter.

Crop conditions may deteriorate for a fourth consecutive
week because of dry, warm weather in Iowa, Minnesota, Nebraska,
North Dakota and South Dakota, said Gary Rhea, president of Risk
Management Partners in Des Moines, Iowa. Some fields got less
than 25 percent of normal rain the past 60 days, data from the
High Plains Regional Climate Center in Lincoln, Nebraska, show.


Read more at Bloomberg Commodities News