London Markets: London stocks drop for 2nd day; banks pressured   (08.09.2010 10:37)

British stocks fell on Wednesday for a second session, as a sell-off on Wall Street and continued worries about the health of European banks soured sentiment.

Economic Report: Germany's exports drop in July   (08.09.2010 10:16)

Germany’s exports fell in July, reinforcing expectations that Europe’s largest economy will see slower demand for its goods as the global economy runs into headwinds.

Europe Markets: Europe extends losses, banks remain under pressure   (08.09.2010 10:04)

European stock markets dropped Wednesday, extending losses into a second session, with modest gains for some utilities and telecoms stocks helping take the edge off a further decline in the banking sector.

After Cadbury deal, what's next for food giants?   (08.09.2010 09:55)

European food giants have been sitting pretty for a while, but the need to bulk up to drive savings means a pickup in M&A activity is now firmly on the agenda.

Japan officials voice concern over economy   (08.09.2010 09:24)

Japanese officials sound growing alarm about the state of the economy and the negative impact from the yen's rise, but talk of intervention in the foreign exchange markets fail to curb gains. The Japanese currency rose to a fresh 15-year high against the dollar in Asian trading.

Asia Markets: Resource tax concerns revisit Australian miners   (08.09.2010 07:03)

Australian miners underperform as the Labor Party's return to power with a narrow parliamentary lead refocuses attention over a possible tax the party has been trying to introduce on the sector.

Rex Nutting: Inspiring confidence is toughest job for U.S.   (08.09.2010 06:01)

The staggering U.S. economy finally has attracted the attention of policymakers in Washington, but political differences and the real-world limits of what policy can accomplish will curb the scope and effectiveness of any new stimulus.

Outside the Box: High-dividend stocks to consider   (08.09.2010 06:01)

This week, many children are heading off to school, and as parents wave goodbye to their kids, most are likely wondering how they'll pay the mortgage let alone pay for college.

Jon Friedman's Media Web: CNN's Spitzer: 5 reasons why he'll flop   (08.09.2010 06:01)

Jon Friedman is rooting against Eliot Spitzer’s new show on CNN.

Amy Hoak's Home Economics: Financial crisis hits condo associations   (08.09.2010 06:01)

People often buy a condo unit partly because they don’t need to worry about cutting the lawn or fixing the roof -- their condo association takes care of maintenance and repairs for them, with those services paid through homeowner assessments each month. At least, that’s the way it’s supposed to work.

U.K. July manufacturing output rises 0.3%   (08.09.2010 10:46)

LONDON (MarketWatch) -- British manufacturing output rose 0.3% in July and was up 4.9% compared to the same month last year, the Office for National Statistics reported Wednesday. Economists surveyed by Dow Jones Newswires had forecast a 0.3% monthly rise and a 5% year-on-year increase. The annual rise was the largest since December 1994. The broader industrial production measure rose 0.3% in July and was up 1.9% compared to the same month last year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

BP's internal report on Gulf oil spill is due   (08.09.2010 10:45)

LONDON (MarketWatch) -- U.K. energy giant BP PLC is scheduled to release later on Wednesday its internal investigation report on the causes of the Gulf of Mexico oil spill. The report is due at 7 a.m. Eastern time and is prepared by BP's internal investigation team. Investors will be waiting to see where BP lays the blame for the disastrous spill. BP reported a $17.2 billion loss in the second quarter as it took $32.2 billion in charges linked to its response to the spill. Shares of BP gained 1% in morning trading on the London Stock Exchange. They have tumbled 32% so far this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

U.K. house prices up 0.2% in August: Halifax   (08.09.2010 10:29)

LONDON (MarketWatch) -- British house prices rose 0.2% in August and were up 4.6% compared to the same month last year, mortgage lender Halifax reported Wednesday. Economists had forecast a 0.5% monthly price drop. The rise followed a 0.7% monthly increase in July. Gains over the last two months have reversed much of the decline seen in the three preceding months, said Martin Ellis, Halifax housing economist. Prices are now near levels seen at the end of last year, while activity has been static since the start of the year, he said. "These developments suggest that the market is broadly stable with house price inflation having cooled since last year when supply shortages helped to push up prices," Ellis said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

EDF board clears sale of U.K. electricity networks   (08.09.2010 10:14)

TEL AVIV (MarketWatch) -- Electricite de France's board cleared the company to sell its U.K. electricity-distribution networks to the Cheung Kong group for 3.8 billion euros ($4.07 billion). The Cheung Kong group also will assume 3 billion euros of debt. In a Wednesday statement, EDF said the board moved after consulting with the company's European Works Council, which gives employees a voice in corporate decisions. The deal remains subject to approval by the Cheung Kong group's holders as well as clearance by France's economy minister and the European Commission's Directorate-General for Competition.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Gold futures climb past $1,260 on Globex   (08.09.2010 10:08)

HONG KONG (MarketWatch) -- Gold for December delivery touched a high of $1,262.30 an ounce in electronic trading on Globex by late Wednesday afternoon in Asia. That's a more than two-month high for the December 2010 contract, though it tops the record settlement price of $1,259.30 for a widely-traded contract reached at the close of New York trading Tuesday. The contract was last up $2 at $1,261.30. "With European debt concerns set to intensify, we expect further investment diversification to propel the metals [gold and silver] to fresh highs," James Moore, an analyst at TheBullionDesk.com in London, said in a report Wednesday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Unilever to invest in maker of oil from algae: WSJ   (08.09.2010 09:14)

TEL AVIV (MarketWatch) -- Unilever, the London consumer-products giant, is expected to announce on Wednesday that it invested in Solazyme Inc., the South San Francisco developer of oil from algae, The Wall Street Journal reported. Algal oil holds promise as a replacement for palm oil, the production of which has destroyed forests in Indonesia and Malaysia, the paper reported. Unilever uses palm oil in products like Dove soap and Magnum ice cream. And algal oil may prove useful as biodiesel jet fuel, the paper said. The challenge for Unilever is whether algal oil can be produced in quantity at a cost competitive to that of naturally harvested oils, the WSJ said. And further testing of algal oil is needed before it's used in products, the paper said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

European shares edge lower, banks continue to fall   (08.09.2010 09:08)

LONDON (MarketWatch) -- European stocks markets moved lower in early trading Wednesday, adding to the previous session's losses as bank stocks continued to lose ground. Barclays and Royal Bank of Scotland were both down 1.3% in London. Among other stocks in focus, Vodafone Group slipped 0.4% after announcing plans to sell its entire stake in China Mobile for around $6.6 billion. The U.K.'s FTSE 100 index fell 0.4% to 5,386.86, the French CAC 40 index was down 0.1% at 3,642.01 and the German DAX 30 index fell 0.2% to 6,107.27.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Dana Petroleum steps up defense against KNOC bid   (08.09.2010 08:59)

LONDON (MarketWatch) -- Dana Petroleum on Wednesday stepped up its defense against Korea National Oil Corp.'s 1.87 billion pound ($2.87 billion) hostile takeover bid, claiming the company's true value is between 26% and 37% higher than KNOC's offer. Dana said that following an acquisition of assets from Petro Canada U.K. an independent expert's valuation of the company stands at between 2,270 pence and 2,465 pence a share. KNOC's offer is worth 1,800 pence a share and the Korean company said last month that it had received letters of support from shareholders who control nearly 49% of Dana. The U.K. oil company also said it sees the potential for "major additional upside" to its valuation, noting that it has significant exploration prospects that could potentially quadruple its reserves by the end of 2012.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Antisoma closes enrollment in leukemia-drug trial   (08.09.2010 08:44)

TEL AVIV (MarketWatch) -- Antisoma PLC, the London drug developer focused on cancer, completed enrolling patients in a Phase III trial of AS1413, or amonafide L-malate, to treat acute myeloid leukemia. The trial should generate data in first-half 2011, and in a Wednesday statement, Antisoma said it would file for marketing clearances if the results prove positive. More than 420 patients from 22 countries are participating. The trial will compare a combination of AS1413 and cytarabine with standard therapy of daunorubicin and cytarabine, Antisoma said. The study's key endpoint: the "rate of complete remission with or without recovery of normal blood counts," the company said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Barratt loss narrows, outlook remains challenging   (08.09.2010 08:41)

LONDON (MarketWatch) -- U.K. house builder Barratt Developments said Wednesday that its net loss for the fiscal year ended June 30 shrank to 118.4 million pounds ($181.7 million) from 468.6 million pounds a year earlier, while revenue fell 11% to 2.04 billion pounds. The group said total completions during the year fell to 11,377 from 13,277, while the average selling price rose 11% to 174,300 pounds, with growth accelerating in the second half of the year, mainly because of a change in the mix of properties sold. The company said the outlook for new housing remains challenging as a result of continuing constraints on the availability of mortgage finance and broader economic concerns. It is targeting an increase in completions of 5% to 10% in the current fiscal year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Dana Petroleum to buy interests from Suncor unit   (08.09.2010 08:28)

TEL AVIV (MarketWatch) -- Dana Petroleum PLC, the Aberdeen, U.K., independent oil company, agreed to pay 240 million pounds (US$372 million) for Petro-Canada's interests in 12 offshore exploration-and-production licenses in the U.K. North Sea. Petro-Canada is a unit of Suncor Energy of Calgary, Alberta, which said on Wednesday that the deal is part of its effort to shed non-core assets. For Dana's part, the company said the deal price translated to an "attractive acquisition price" of $11.10 a barrel of proven and probable reserves.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Vodafone selling China Mobile stake for $6.6 bln   (08.09.2010 08:26)

LONDON (MarketWatch) -- U.K. telecoms operator Vodafone Group said Wednesday that it will dispose of its entire 3.2% stake in China Mobile in a sale that will generate proceeds of around 4.3 billion pounds ($6.6 billion), before tax and transaction costs. The company said it intends to return around 70% of the net proceeds to shareholders through a share buyback, with the rest of the cash used to reduce debt. The sale will be in the form of an accelerated bookbuild offering -- a type of sale to institutional investors that is generally completed within one or two days. "Today's transaction achieves a near doubling of Vodafone's original investment in China Mobile and combines our stated portfolio strategy with ongoing cooperation with China's leading telecommunications company," said CEO Vittorio Colao.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Germany's exports, imports drop in July   (08.09.2010 08:25)

FRANKFURT (MarketWatch) -- Germany's exports dropped 1.5% in July from the previous month, the Federal Statistical Office reported on Wednesday. Imports fell 2.2% month-on-month. In calendar and seasonally adjusted terms, Germany posted a trade surplus of 12.7 billion euros in July. "German exports took the expected break after an impressive surge in the second quarter," said Carsten Brzeski, senior economist at ING Bank, in a note to clients. "Looking ahead, German exports will have to deal with two downward risks: slower global demand and fiscal consolidation in other euro-zone countries."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Richemont: Net seen higher, comparisons tougher   (08.09.2010 08:09)

TEL AVIV (MarketWatch) -- Richemont, the Swiss luxury-goods producer, expects to report "significantly" higher profit for the first half ended Aug. 31, but the chief executive said "the rest of the year is less straightforward." In a Wednesday statement, the company reported first-half sales rose 37%; they rose 22% at constant exchange rates and excluding the April acquisition of Net-a-Porter.com. The sales growth reflects in part "the low comparative figures" reported a year earlier, the firm said. Richemont took particular note of Asia-Pacific sales, which rose 51% reported and 36% adjusted. Executive Chairman and CEO Johann Rupert said in the statement that first-half profit will be up but "the rest of the year is less straightforward." Fiscal second-half results will face stronger comparisons, and the stronger Swiss franc will hurt cost of sales, he said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

BoJ's Shirakawa concerned about 'downside risks'   (08.09.2010 06:23)

HONG KONG (MarketWatch) -- Bank of Japan Gov. Masaaki Shirakawa said on Wednesday the central bank is prepared to roll out additional easing measures if economic conditions deteriorate. "We are now concerned about downside risks. If the downside risks materialize and the economy worsens at a faster pace than we expect, we are ready to take additional measures," Shirakawa was cited as saying during a parliamentary session, according to reports. The U.S. dollar continued its slide against the Japanese currency on Wednesday, easing to the lower 83-yen level, and setting a fresh 15-year low of ¥83.34 before recovering.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

U.S. dollar falls to fresh 15-year low against yen   (08.09.2010 06:09)

HONG KONG (MarketWatch) -- The U.S. dollar fell to a fresh 15-year low against the Japanese currency Wednesday even as Japanese officials sounded warning potential intervention measures in the foreign exchange markets. Japan's finance minister Yoshihiko Noda said the government stands ready to take steps against the rising yen, if necessary, and that the steps could include exchange market intervention. The greenback fell as low as 83.32 yen in Asian trading, below the low of 83.49 yen it touched overnight in U.S. trading, before recovering. The euro, meanwhile, dropped to 105.84 yen from 106.29 yen.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Hong Kong declines on China Mobile, Europe fears   (08.09.2010 04:18)

HONG KONG (MarketWatch) -- Hong Kong shares dropped early Wednesday as renewed worries about European banks weighed on sentiment, with heavyweight China Mobile Ltd. falling sharply on a report Vodafone Group is selling its 3.2% stake in the Chinese mobile-services giant. The Hang Seng Index fell 1% to 21,186.49, and the Hang Seng China Enterprises Index gave up 1.5% to 11,782.81. China Mobile shrank 3.9% after The Wall Street Journal reported Vodafone is selling its 3.2% stake in the company. Local property and banking shares also declined after extended losses on Wall Street amid worries about European lenders, with HSBC Holdings PLC losing 0.4%, and Industrial & Commercial Bank of China Ltd. falling 1%, while Cheung Kong Holdings Ltd. lost 0.9%. The Shanghai Composite gave up 0.6% to 2,683.12.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Vodafone dumping China Mobile holding, report says   (08.09.2010 03:27)

SYDNEY (MarketWatch) -- Vodafone Group is reportedly selling its 3.2% stake in China Mobile Ltd. for 4.3 billion pounds ($6.58 billion). The wireless giant will sell the 642.9 million shares it has held since 2000 in a public offering, The Wall Street Journal reported. Vodafone Group will return around 70% of the sale proceeds to shareholders and use the remainder to pay down debt, according to the report.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Rio Tinto reportedly cuts Q4 iron-ore prices   (08.09.2010 02:44)

SYDNEY (MarketWatch) -- Anglo-Australian mining giant Rio Tinto Ltd. has reportedly agreed to a 13% cut in the price it will receive for its iron ore from Japanese steel makers during the fourth quarter. The Nikkei reported Wednesday that Rio Tinto will receive around $127 per ton for iron ore shipped to the steel makers, with weaker demand from China the primary reason for the price drop. Shares of Rio Tinto were down 1.4% early Wednesday, against a 0.3% drop in the benchmark S&P/ASX 200 index.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Australia shares fall after Wall Street sell-off   (08.09.2010 02:37)

LOS ANGELES (MarketWatch) -- Australian shares moved lower in early Wednesday trading, weighed by U.S. losses overnight and concern over the government's mining-tax plans. The benchmark S&P/ASX 200 lost 0.4% to 4,555.4, with mining majors falling after Treasurer Wayne Swan said the new minority Labor government would procede with a compromise mining-tax plan, despite some remaining criticism from the industry. Shares of BHP Billiton Ltd. dropped 1.5%, those of Rio Tinto Ltd. gave up 1.6%, and Fortescue Metals Group Ltd. was down 2%. Among advancers, Foster's Group Ltd. rose 4.8% after the brewer-vintner said it had rejected an unsolicited bid for its wine business.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Japan's core machinery orders spike 8.8% in July   (08.09.2010 02:26)

SYDNEY (MarketWatch) -- Japanese private-sector core machinery orders rose a seasonally adjusted 8.8% in July, according to data released Wednesday by Japan's Cabinet Office. Analysts had been expecting a 1.8% month-on-month rise in core machinery orders, according to a survey by Dow Jones Newswires and Nikkei. Total orders rose 5.7% month-on-month. Core machinery orders strip out volatile order totals from ship builders and electric-power companies. The data are seen as a key leading indicator for capital spending, although the numbers tend to swing wildly from month to month.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Japan's current-account surplus beats forecast   (08.09.2010 02:24)

SYDNEY (MarketWatch) -- Japan's current-account surplus totaled 1.675 trillion yen ($20 billion) in July, for a gain of 26.1% from the year-earlier month, according to preliminary figures released Wednesday by the country's Ministry of Finance. Analysts had expected a 12.8% increase in the country's current-account surplus to ¥1.5 trillion, from ¥1.3 trillion in June, according to a survey compiled by Dow Jones Newswires and the Nikkei. The data showed a 24.7% year-on-year rise in July exports and a 15.7% rise in imports.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Australia's Foster's rejects bid for wine business   (08.09.2010 02:17)

SYDNEY (MarketWatch) -- Foster's Group Ltd. said Wednesday that it has received and rejected an unsolicited expression of interest for the wine assets of its Treasury Wine Estates business. It didn't identify the source of the offer but said the proposal involved between 2.3 billion and 2.7 billion Australian dollars ($2.1 billion-$2.5 billion) in cash. Foster's, which is set to split its beer and wine businesses into separate units, said the bid significantly undervalues the unit and its prospects. Shares of Foster's jumped 5.6% in opening trades in Sydney.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Japanese stocks pulled down by strong yen   (08.09.2010 02:16)

LOS ANGELES (MarketWatch) -- Japanese stocks headed sharply lower early Wednesday, after the yen hit a fresh 15-year high against the U.S. dollar overnight, weighing on key exporter shares. The Nikkei Stock Average lost 1.7% to 9,073.8, while the broader Topix fell 1.4% to 822.9. Export-focused stock suffered after the U.S. dollar fell to an intraday low of ¥83.49 Tuesday, with Sony Corp. down 1.8%, Sharp Corp. falling 2.3%, and chip maker Elpida Memory Inc. dropping 3.3%. Autos also took a currency-inspired hit, with Toyota Motor Corp. down 2% and Honda Motor Co. off 2.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Australia's treasurer defends mining-tax plans   (08.09.2010 02:00)

SYDNEY (MarketWatch) - Australia's Treasurer Wayne Swan said Wednesday that the country's proposed mining tax is critical to funding investments in pensions and infrastructure and to allow a lower corporate tax. Swan made the comments after the Labor Party edged to victory on Tuesday. The planned tax, which faced strong opposition from the mining industry when it was first proposed, had been amended before the election on Aug. 21. The opposition had vowed to shelve the proposed tax. Swan said that legislation such as the mining tax "can rarely be done in less than six months."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Oracle's CEO Ellison slams H-P suit against Hurd   (08.09.2010 01:29)

LOS ANGELES (MarketWatch) -- Oracle Corp. Chief Executive Officer Larry Ellison sharply criticized Hewlett-Packard Co. for its lawsuit against former H-P chief Mark Hurd, describing the move as "vindictive" and against the interests of H-P shareholders. "Oracle has long viewed H-P as an important partner," Ellison said in a statement. "By filing this vindictive lawsuit against Oracle and Mark Hurd, the H-P board is acting with utter disregard for that partnership, our joint customers, and their own shareholders and employees." Hurd was forced to resign from H-P last month following a sexual-harassment accusation. Oracle named Hurd to serve as its co-president Monday, prompting a suit from H-P, which said Hurd would be violating a non-disclosure agreement by working for Oracle. Ellison said the suit would poison the waters between the two firms. "The H-P board is making it virtually impossible for Oracle and H-P to continue to cooperate and work together in the IT marketplace," he said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Bristol-Myers Squibb to buy ZymoGenetics   (07.09.2010 23:36)

SAN FRANCISCO (MarketWatch) -- Bristol-Myers Squibb Co. late Tuesday said it will buy ZymoGenetics Inc. for $9.75 a share in cash. The total purchase price is $885 million, or about $735 million net of cash acquired, Bristol-Myers Squibb said. Bristol-Myers Squibb said the purchase will lower earnings by 3 cents a share in 2010, and by 7 cents in 2011. Analysts surveyed by FactSet Research expect 2010 earnings of $2.17 a share, and $2.33 a share for 2011.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Pep Boys second-quarter profit rises to $53.1 mln   (07.09.2010 22:40)

SAN FRANCISCO (MarketWatch) -- Pep Boys said late Tuesday that its second-quarter profit rose to $53.1 million, or 20 cents a share, from $52.7 million, or 15 cents a share, a year ago. Revenue rose to $504.9 million from $488.9 million in the year ago period. Analysts surveyed by FactSet Research estimated a profit of 19 cents a share on revenue of $502.7 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Altera hikes third-quarter revenue growth outlook   (07.09.2010 22:30)

SAN FRANCISCO (MarketWatch) -- Altera Corp. said late Tuesday that it now expects third-quarter revenue to rise 10% to 14% from second-quarter, compared with 4% to 8% growth it predicted previously. "It is likely that all four of the company's vertical markets will show sequential growth. The telecom and wireless vertical market is on track to be the fastest growing portion of the business, driven in large part by 3G wireless deployments and needs for additional wireless backhaul capacity," Altera said in a statement. The chip company had reported second-quarter revenue of $469.3 million. It is planning to release details of third-quarter earnings on Oct. 19.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Phillips-Van Heusen swings to second-quarter loss   (07.09.2010 22:17)

SAN FRANCISCO (MarketWatch) -- Phillips-Van Heusen Corp. said late Tuesday it swung to a second-quarter loss of $54.9 million, or 83 cents a share, from a profit of $26.6 million, or 51 cents a share, a year ago. Excluding one-time items, the company would have reported earnings of 72 cents a share. Revenue rose to $1.1 billion from $529.3 million in the year-ago period. Analysts surveyed by FactSet Research estimated earnings of 55 cents a share on revenue of $1.08 billion. Phillips-Van Heusen forecast adjusted third-quarter earnings of $1.37 to $1.42 a share, compared with Wall Street estimates of $1.41 a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

ETF Investing: Copper, currency gains fuel Chile ETF's rally   (05.09.2010 18:01)

A rebound in copper prices and a strengthening local currency have pushed an exchange-traded fund tracking Chilean stocks into the top ranks of the emerging markets category.

Chuck Jaffe: Big fund firms could be the next ETF stars   (05.09.2010 18:01)

A recent study looking at the present state of the exchange-traded fund business offers a window on its future.

Mutual Funds Weekly: Invest confidently when others lose their nerve   (03.09.2010 01:55)

This summer has burned investors, and no amount of SPF -- stock protection factor -- has been able to soothe their sores.

FundWatch: Death of equities may be exaggerated, data show   (31.08.2010 20:56)

Reports of investors fleeing the stock market may have been overstated. In fact, rather than leaving stocks behind, evidence suggests that investors are ditching U.S. stock mutual-fund managers and putting money into index funds.

ETF Investing: Merger-arbitrage ETF banks on M&A pickup   (29.08.2010 18:01)

An exchange-traded fund that specializes in merger-arbitrage has received a lukewarm reception in the market, but a burst of deal activity may invite some investors to take a closer look.

Mutual Funds Weekly: Bond buyers are killing the economic recovery   (27.08.2010 01:13)

Bubble or not, the buying frenzy fueling the bond market is killing the economic recovery.

Corrections: Floating-rate bond funds may set investors adrift   (26.08.2010 15:58)

A MarketWatch story about floating-rate bond funds misspelled a fund manager’s name. It has now been corrected.

Mutual Understanding: Floating-rate bond funds may set investors adrift   (26.08.2010 15:57)

For investors convinced that today’s ultralow interest rates are bound to rise, specialized bond funds that adjust to fluctuating market conditions might seem tailor-made. But there’s a danger with these funds that may outweigh their appeal.

ETF Investing: Junk-bond ETFs boom as investors crave income   (22.08.2010 18:01)

Investors fed up with U.S. stocks are piling into exchange-traded funds that invest in high-yield corporate bonds.

Chuck Jaffe: Investors: Watch for next SEC 'fund czar'   (22.08.2010 18:01)

The SEC's top fund cop is stepping down at a key time in the evolution of mutual funds. Whoever replaces him faces big issues with the potential to change the way individual investors interact with fund companies and feel about funds and financial advisers.