Asia, Europe Down Slightly; Oil and Gold Slip Further

by: SA Editors

At 7:15 AM EDT:

U.S. Futures

S&P 500: +0.70; 1,273.90
NASDAQ 100: +3.75; 1,504.00
DOW: +8.00; 11,141.00

International Indexes

NIKKEI 225: -0.26%; 15,816.19 (-40.92)
HANG SENG: -0.09%; 17,274.07 (-15.94)
S&P/ASX 200: -0.71%; 4,936.00 (-35.30)

FTSE 100: -0.33%; 5,851.70 (-19.20)
CAC 40: -0.02%; 5,046.15 (-0.78)
XETRA-DAX: -0.18%; 5,681.60 (-10.40)

Commodity Futures (Reuters/Jefferies CRB)

Oil: -0.79%; 72.95 (-0.58)
Gold: -0.67%; 635.00 (-4.30)
Natural Gas: -0.52%; 6.88 (-0.04)
Silver: -01.40%; 11.990 (-0.170)

Asian Headlines (via

- Asian Energy Stocks Slide, Led by Cnooc, Woodside; Orix, Bridgestone Gain -- Asian energy stocks fell the most in almost a month, led by Cnooc Ltd. (NYSE:CEO) and Woodside Petroleum Ltd. (WPL), as a truce between Israeli and Hezbollah forces in Lebanon pushed oil prices lower and industrial output cooled in China.

- China's Factory Production Grows at Slowest Pace Since April on Fuel Costs -- China's industrial production rose last month at the slowest pace since April as increasing fuel costs hurt demand for cars and the central bank reined in lending for new factories.

- Japan's Service Economy Unexpectedly Slows for the First Month in Three -- Demand for services in Japan slipped in June from a near six-year high, as building orders slowed and rising fuel prices discouraged consumers.

- Sony Expects to Share Costs With Dell for Recall of Notebook PC Batteries -- Sony Corp. (NYSE:SNE), the world's second- largest maker of consumer electronics, expects to share the costs with Dell Inc. for a recall of 4.1 million notebook computer batteries that may burst into flames.

- CLP Profit Gains 7.9 Percent as Contributions From Overseas Business Rise -- CLP Holdings Ltd., the bigger of Hong Kong's two electricity suppliers, said first-half profit rose 7.9 percent on contributions from its Australian unit and gains from a stake sale. The shares closed at 12-year high.

European Headlines (via

- UBS Profit Climbs 47 Percent on Revenue From Trading, Wealth Management -- UBS AG (NYSE:UBS), the world's biggest money manager, said profit rose 47 percent in the second quarter as gains from stake sales boosted trading revenue and fees from overseeing funds for the wealthy increased.

- E.ON Quarterly Profit Slides 30 Percent on Higher U.K. Natural-Gas Prices -- E.ON AG (EON), the world's largest utility, said second-quarter profit fell 30 percent as rising U.K. natural-gas prices squeezed margins and cut the value of contracts that lock in commodity prices.

- European Stocks Fall on Economic Growth Concerns, Led by Volkswagen, Rio -- European stocks dropped after commodity prices declined and a report showed China's industrial output slowed last month, fueling speculation that demand from the world's fastest-growing major economy will ease.

- U.K. Consumer Prices Rise 2.4 Percent, Exceed BOE Target for Third Month -- U.K. inflation exceeded the Bank of England's target for a third month in July, driven by oil prices, adding to the case for a further interest-rate increase in Europe's second-biggest economy.

- Hennes & Mauritz July Sales Rise 2 Percent as Price Cuts Attract Customers -- Hennes & Mauritz AB, Europe's second- largest clothes retailer, said same-store sales increased 2 percent in July as price cuts attracted more shoppers. The stock gained as much as 3.6 percent

- British Air, Ryanair Cancel Flights at London Airports on Security Delays -- British Airways Plc (NYSEARCA:BAB) and Ryanair Holdings Plc (NASDAQ:RYAAY) canceled flights today as disruptions at London airports dragged on for a sixth day because of heightened security checks after U.K. police said they foiled a plot to bomb planes.

U.S. Headlines (via

- Wal-Mart Reports First Profit Decline in a Decade on Costs to Exit Germany -- Wal-Mart Stores Inc. (NYSE:WMT), the world's biggest retailer, reported the first decline in profit in more than a decade on costs to sell its German unit.

- Home Depot Second-Quarter Profit Rises on Sales to Professional Builders -- Home Depot Inc. (NYSE:HD), the world's largest home-improvement retailer, said second-quarter profit rose at its slowest pace in more than three years. The company said full-year earnings would come in at the low end of its forecast.

- U.S. Stock-Index Futures Gain Before Producer Price, Manufacturing Reports -- U.S. stock-index futures rose before a government report on inflation that may ease pressure on the Federal Reserve to resume increasing interest rates.

- Dell Shares Slide in Europe on Recall of Sony-Made Batteries for Laptops -- Shares of Dell Inc. (DELL), the world's largest maker of personal computers, fell in Europe after the company said it's recalling 4.1 million notebook PC batteries made by Sony Corp. because they may burst into flames.

- Deere Profit Rises 13 Percent, Helped by Sales of Construction Equipment -- Deere & Co. (NYSE:DE), the world's largest maker of farm equipment, said third-quarter profit rose 13 percent, helped by sales of construction products.

U.S. Pre-Market Movers (via

Agilent Technologies (NYSE:A) +5.37%; 30.00 (+1.53) -- Co reported Q3 (Jul) earnings of $0.41 per share, excluding multiple non-recurring items, three cents better than the Reuters Estimates consensus of $0.38. Revenues rose 11.8% year/year to $1.45 bln vs. the $1.43 bln consensus. Co issued in-line guidance for Q4, sees Q4 revenues of $1.49-1.53 bln (consensus $1.53 bln) and sees adjusted EPS of $0.50-0.55, which may not compare to the $0.47 consensus.

CA Inc. (NASDAQ:CA) +1.29%; 22.05 (+0.28) -- Co reported Q1 (Jun) earnings of $0.17 per share, $0.04 better than the Reuters Estimates consensus of $0.13. Revenues rose 3.1% year/year to $956 mln vs. the $931.4 mln consensus. Co issued upside guidance for FY07, sees EPS of $0.83 (consensus $0.82) on revenues of $3.9 bln (consensus $3.88 bln). (NASDAQ:NTES) -2.36%; 18.24 (-0.44) -- Including stock based compensation expenses, co reported Q2 (Jun) GAAP earnings of $0.28 per share, a penny better than the Reuters Estimates consensus of $0.27. Total revenues rose 51.6% year/year to $72 mln vs. the $68.9 mln consensus.

China Techfaith Wireless (NASDAQ:CNTF) -12.72%; 7.55 (-1.10) -- Co reported Q2 (Jun) earnings of $0.09 per share, in line with the Reuters Estimates consensus of $0.09. Revenues rose 2.7% year/year to $21.8 mln vs. the $22.5 mln consensus. Co said "We missed the top line of our Q2 pre-warning announcement by $800,000 because of two contracts that were not signed before our financial closing cut-off. We missed the bottom line of the pre-warning announcement by $200,000 due to the net effect of the P&L impact of the contracts mentioned above."