The Other Side of Life 24/7: Business Today: Stock futures tick higher ahead of data, Fed in focus

Tuesday, July 30, 2013

Business Today: Stock futures tick higher ahead of data, Fed in focus

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07/30/2013

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Stock futures tick higher ahead of data, Fed in focus

NEW YORK (Reuters) - Stock index futures edged higher on Tuesday, following stocks' slight decline on Monday, as investors braced for housing and consumer data in a week packed with economic numbers.

Community Health to buy Health Management for $3.9 billion

(Reuters) - U.S. hospital chain Community Health Systems Inc said on Tuesday that it would buy smaller Health Management Associates Inc for $3.9 billion to increase its base during the overhaul of the country's healthcare system.

JPMorgan to pay $410 million in power market manipulation probe

(Reuters) - JPMorgan Chase & Co agreed to pay a civil penalty of $285 million and disgorge $125 million to settle allegations of power market manipulation in California and the Midwest, the latest settlement in a series of high-profile investigations by U.S. federal energy regulators against banks.

Crackdown on risk hits Barclays, Deutsche

LONDON/FRANKFURT (Reuters) - A $9 billion rights issue and a fresh purge of assets are among the measures Britain's Barclays and Germany's Deutsche Bank announced on Tuesday to meet tougher rules on risk, raising concern among investors that regulators will push other European banks into similar action.

Pfizer earnings top estimates, reiterates forecast

(Reuters) - Pfizer Inc reported second-quarter earnings slightly ahead of estimates on Tuesday as the largest U.S. drugmaker lines up a business split that could lead to the spinoff of its generics division.

Alcatel posts strong second-quarter, signs Qualcomm partnership

PARIS (Reuters) - Struggling telecom equipment maker Alcatel-Lucent surfed on strong growth in its key U.S. market to beat analysts' estimates and said mobile chip maker Qualcomm would buy a minority stake as part of a research partnership.

Thomson Reuters revenue up on tax, legal business

(Reuters) - Thomson Reuters on Tuesday posted a 2 percent rise in second-quarter revenue on the strength of its legal and tax and accounting businesses, and reaffirmed its forecast for 2013.

Office Depot posts loss in line with expectations, sales fall

(Reuters) - Office Depot Inc reported on Tuesday a quarterly loss in line with analyst expectations, as tight cost controls helped offset weak sales at the second-largest U.S. office supply retailer.

Profit warning at thriving Chrysler unit hits Fiat

MILAN (Reuters) - A profit warning from Fiat's U.S. unit Chrysler, which generates most of the group's net income, knocked the Italian automaker's shares lower on Tuesday even though it confirmed combined full-year targets.

Western Union profit falls 27 percent as competition bites

(Reuters) - Western Union Co , the world's largest money-transfer company, reported a 27 percent decline in quarterly profit after cutting prices and spending more on its online business to compete with more nimble rivals.