TOP STORIES
CVS CAREMARK NET JUMPS 18%; RAISES YEAR VIEW
CVS Caremark's 2Q profit rises to $966 million, or 75c a share, amid strength in its pharmacy-services business, while revenue surges 16% to $30.7 billion. Company raises its 2012 guidance to $3.32-$3.38 a share and shares edge up 1% premarket.
U.S. STOCK FUTURES HOLD MODEST GAINS
U.S. stock-index futures drift a shade higher as investors await earnings data amid a dearth of fresh economic data. Futures on the Dow Jones Industrial Average rose 27 points to 13094.
STANCHART SHARES DIVE ON IRAN ALLEGATIONS
Standard Chartered shares fall sharply in London after a New York financial regulator alleged the bank's U.S. unit ran a "rogue institution" that "schemed" with Iran's government to hide illegal transactions.
ROSENGREN CALLS FOR OPEN-ENDED BOND BUYING
Boston Fed President Eric Rosengren calls for an aggressive, open-ended bond buying program that the central bank would continue until economic growth picks up and unemployment starts falling again.
OPENING BIDS FOR KODAK PATENTS COME IN LOW
Opening bids for Kodak's digital patents come in far below the $2.6 billion the company said they could be worth, an early sign the bankruptcy-court auction may not leave much cash for the company.
BRENT, NYMEX CRUDE UP ON OIL SUPPLY WORRIES
Brent crude oil futures rise more than $1 in trading as disruptions to oil flows from the Middle East tighten European supply
BRIDGESTONE PRESENTS ROSY EARNINGS OUTLOOK
World's biggest tire maker says its profit climbs 45% on year as lower raw material costs, solid sales in Japan and the Americas, and tire price hikes more than offset the yen's strength and flagging European sales.
CHEVRON GETS MIDNIGHT DEADLINE TO PAY DAMAGES
U.S oil giant Chevron has until midnight Monday to pay $19.04 billion ordered last week by the Court of Sucumbios in Ecuador for environmental damages.
MUNICH RE NET PROFIT UP
Munich Re reports a 9.8% rise in net profit in the second quarter, helped by substantially lower costs for severe weather damage and the absence of impairments on Greek sovereign debt that weighed on last year's results.
PEPCO NET SLUMPS 34% ON DOUBLE-DIGIT REVENUE SLIDE
Electricity provider's 2Q profit falls to $62 million, or 27c a share, as it records a double-digit revenue decline. Analysts forecast earnings of 31c a share.
EMERSON ELECTRIC NET UP 13% ON HIGHER SALES
Maker of factory-automation equipment and software and components for appliances says its fiscal 3Q earnings rise to $770 million, or $1.04 a share, as process management sales grow. Analysts forecast earnings of $1 a share. Stock up 1% premarket.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
OLYMPICS
When Every Game is a Cardiac Incident
The U.S. women's soccer team falls behind three times before equalizing late in regulation and then going on to win 4-3 after a header by Alex Morgan with 30 seconds to play in extra time.
HEARD ON THE STREET
Best Buy's Biggest Fan
Best Buy's founder and former chairman, Richard Schulze, thinks the electronics retailer is a steal as currently priced and he'd like to take it private.
HEARD ON THE STREET
Wheel Lands on Standard Chartered
British banks just can't seem to stay out of trouble with U.S. regulators. First, Barclays got in trouble. Then, HSBC then came unstuck. Now it's Standard Chartered's turn, Thorold Barker and Simon Nixon write.
============ U.S. MARKETS ACTION ===========
DJIA 13,117.51 from Monday
NASDAQ 2,989.91 from Monday
S&P 500 1,394.23 from Monday
10-year T-note 101 12/32 at 1.5920% yield
NYMEX Crude up $0.41 at $92.61/bbl
Dollar/Euro up 0.0021 at 1.2421
