Subprime Housing Defaults Blamed for Corporate America's Earnings Setbacks

(Bloomberg) -- Railroads, chemical producers and
insurance companies are blaming the worst U.S. housing slump in 16
years for their earnings woes.

Burlington Northern Santa Fe Corp., the second-biggest U.S.
railroad, said lower shipments of housing products and lumber
reduced second-quarter earnings. DuPont Co., the third-largest
chemical maker, said slumping demand for kitchen and bathroom
countertops was partly responsible for its profit drop. Genworth
Financial Inc., the former insurance unit of General Electric Co.,
said earnings will be at the ``lower end'' of its forecast this
year as mortgage-insurance claims increase.


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U.S. Stocks Retreat on Drop in Durable Goods; GE, Countrywide Shares Fall

(Bloomberg) -- U.S. stocks fell for a fourth day
after a government report said orders for durable goods
declined more than forecast and concerns lingered that losses
may worsen in bonds tied to mortgage loans.

General Electric Co., which makes products ranging from
appliances to jet engines, retreated. Countrywide Financial
Corp., the biggest U.S. mortgage lender, helped push a gauge of
financial shares to its lowest since April.


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US STOCKS-Indexes flat as yields slip; GE gains ground

(Reuters) - NEW YORK, June 19 - U.S. stocks were little
changed on Tuesday as a dip in benchmark Treasury bond yields
tempered interest-rate worries, but earnings from Best Buy
raised concerns about the health of consumer spending.




One big mover in an otherwise lackluster session was
General Electric Co. . Shares of the No. 2 U.S. company
by market capitalization tackled a key technical level,
triggering further gains.


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U.S. Stocks Rise as Bond Yields Slip; General Electric, Textron Advance

(Bloomberg) -- U.S. stocks rose after bond yields
fell for a third day, easing concern that higher borrowing costs
will restrain consumers and businesses.

Textron Inc., the world's largest maker of corporate jets,
sent industrial shares to the biggest gain in the Standard &
Poor's 500 Index after Goldman, Sachs & Co. advised clients to
buy the shares. General Electric Co., Bank of America Corp. and
JPMorgan Chase & Co. led shares of companies that benefit from
falling interest rates.


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U.S. Stocks Gain on Acquisitions; Shares of Alcoa, Dow Jones Lead Advance

(Bloomberg) -- U.S. stocks rose for a fourth day on
takeover speculation, including a report that BHP Billiton Ltd.
may bid $40 billion for Alcoa Inc.

Dow Jones & Co. advanced after the Wall Street Journal
reported General Electric Co. and Pearson Plc are in talks to make
a joint offer for the newspaper's publisher, possibly beating out
News Corp. CBOT Holdings Inc., the owner of the second-largest
futures market, climbed after two suitors said they may raise
their bids for the company.


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Stocks set to open higher on M&A

(Reuters) - Shares of Alcoa rose 2.4 percent in trading before the bell after the Times newspaper in London reported BHP Billiton Ltd./Plc , the world's biggest mining group, may bid for the aluminium producer.




General Electric Co. and Pearson Plc may challenge News Corp.'s $5 billion bid for Dow Jones & Co. with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and The Wall Street Journal reported on their Web sites.


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U.S. Stocks Climb on Takeovers; S&P 500 Index Heads Toward Record Close

(Bloomberg) -- U.S. stocks climbed and the Standard &
Poor's 500 Index rose above its highest close after $43.2 billion
of announced deals extended this year's record pace of mergers
and acquisitions.

General Electric Co., Exxon Mobil Corp. and Merck & Co. led
the S&P 500 above its March 24, 2000, peak and sent the Dow Jones
Industrial Average to its 25th record this year. Alltel Corp.
rallied to its highest in almost eight years after Goldman Sachs
Group Inc. and TPG Inc. agreed to buy the fifth-biggest U.S.
wireless company for $24.7 billion.


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US stocks drop after Bernanke comments

(Reuters) - U.S. stocks fell sharply on Wednesday after Federal Reserve Chairman Ben Bernanke cast doubt about a recovery in housing and said uncertainties surrounding the economic outlook had increased.

Shares of bellwether companies, including plane maker Boeing Co. and diversified manufacturer General Electric Co. were among the top decliners, along with shares of banks and retailers.


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U.S. Stocks Gain for 2nd Day; Bear Stearns Lifts Bank Shares

The U.S. stock market climbed a second day on fading home-loan concerns after Bear Stearns Cos.' earnings report and the acquisition of a mortgage company by General Electric Co. and Blackstone Group LP.

Citigroup Inc., JPMorgan Chase & Co. and Alcoa Inc. led gains in the Dow Jones Industrial Average and the Standard & Poor's 500 Index. Dow Chemical Co. posted its biggest advance since July 2003 on expectations it will merge some assets with India's Reliance Industries Inc.

Bear Stearns, the biggest U.S. underwriter of mortgage bonds, joined Lehman Brothers Holdings Inc. in assuaging concern that defaults among the riskiest borrowers will drag down profits at financial companies. The bank's outlook helped lift 14 of 16 homebuilders in S&P indexes and alleviate concerns raised by accelerating inflation and a prediction by former Federal Reserve Chairman Alan Greenspan that mortgage defaults will hurt the economy.

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