U.S. STOCKS SLUMP AS GROWTH FIGURES DISAPPOINT
U.S. stocks fall Friday after government data showed economic growth
slowed in the second quarter, though they regain some lost ground
after better-than-expected reports on consumer confidence and
manufacturing.
MERCK'S PROFIT DROPS ON MERGER COSTS, REVAMP
Merck & Co. reports sharply lower second-quarter earnings, its bottom
line dragged down by costs associated with its recent takeover of
rival Schering-Plough Corp and a continuing restructuring program.
CHEVRON PROFIT TRIPLES AS REFINING RECOVERS
Chevron on Friday said its second-quarter net income tripled on higher
crude prices and a 3% rise in oil production, as the oil giant beat
Wall Street's profit target.
AEP'S QUARTERLY NET FALLS ON ONE-TIME COSTS
American Electric Power's second-quarter net earnings fall, but
adjusted profit comes in ahead of analysts' consensus forecast.
ROSY SECOND-HALF OUTLOOK LIFTS ALCATEL-LUCENT
Shares of Alcatel-Lucent rise as much as 8% as the telecoms-equipment
giant reports in-line underlying earnings.
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