IBT Staff Reporter

Las Vegas casino company Wynn Resorts has submitted an application to list its Macau unit on the Hong Kong stock exchange, sources said on Tuesday, hoping to raise between $500 million and $1 billion.

Merck & Co said second-quarter earnings fell, hurt by the strong dollar and lower sales of its cholesterol drugs, but favorable tax settlements helped the drugmaker soundly beat profit forecasts.

Continental Airlines Inc posted a steeper second-quarter loss on Tuesday as the slump in business travel and fears about the H1N1 virus hurt revenue, and said it will cut its work force by 4 percent.

Dell, the world's second-biggest maker of personal computers after Hewlett-Packard, says it wants to buy lean IT firms with business models similar to those of India's outsourcing pioneers.

(Corrects year-ago figures in paragraph 3)

Research In Motion Ltd said on Monday Nortel Networks had effectively blocked the BlackBerry maker from bidding potentially $1.1 billion for the bankrupt Canadian company's wireless business.

Stock index futures rose on Tuesday, a day after the S&P 500 hit its highest closing level in eight months, after Caterpillar Inc posted stronger-than-expected quarterly results.

Continental Airlines Inc posted a steeper second-quarter loss on Tuesday as the slump in business travel and fears about the H1N1 virus hurt revenue, and said it will cut its work force by 4 percent.

UAL Corp , parent of United Airlines, reported a quarterly profit on Tuesday after big gains from fuel hedges, but said it would cut its international flying capacity by 7 percent to offset sagging demand.

Bernanke to Testify, Energy Bill Debate Continues, Apple to report reults

Relevant sources from Morgan Stanley &Co confirmed that C.N. Liu, managing director and head of corporate finance department in Hong Kong, have dismissed Morgan Stanley early in July.

DuPont posted a 61 percent drop in quarterly profit hurt by weak global demand, but cost cuts helped the chemical maker beat Wall Street forecasts.

U.S. drugmaker Schering-Plough Corp said on Tuesday its second-quarter earnings rose after lower special charges, but global revenue declined as the weak dollar hurt sales in overseas markets.

The U.S. Senate Committee on Environment & Public Works will hold a hearing on green jobs Tuesday 10:00 a.m. Sinopec Corp., the second-biggest oil refiner in China reports domestic fuel sales in the second quarter. NRG Energy Inc. will hold its annual meeting of shareholders.

Insurer UnitedHealth Group Inc posted better-than-expected second-quarter profit on Tuesday, helped by growth in its plans for elderly and low-income Americans.

California Governor Arnold Schwarzenegger and top lawmakers agreed on Monday to close a $26.3 billion deficit in the state's budget in a deal that includes $15.5 billion in spending cuts, they said.

The fed Governor Ben Bernanke will today at 10am EST deliver a semi-annual monetary policy testimony to House Financial Services Committee in Washington. The Fed Chairman will comment on how the Fed observes the current U.S. economy and the value of dollar. Bernanke's comments may influence the volatility of the currency and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative or b...

Merck & Co said second-quarter earnings fell, hurt by lower sales of its cholesterol drugs, but income from partnerships and a rebound in sales of asthma drug Singulair helped the drugmaker beat profit forecasts.

Coca-Cola Co reported a better-than-expected quarterly profit on Tuesday, as growth in markets such as India and China helped offset the impact of the stronger U.S. dollar.

U.S. machinery maker Caterpillar Inc posted stronger-than-expected quarterly earnings on Tuesday and raised its full-year outlook, citing signs of stabilization in the world's credit markets and economies.

Apple, the iPhone maker, is scheduled to report their fiscal third quarter 2009 results after the market closes on Tuesday. Analyst estimate between $1.02 earnings per share to a high of $1.31, with a consensus estimate of $1.15.

U.S. machinery maker Caterpillar Inc posted stronger-than-expected quarterly earnings on Tuesday and raised its full-year outlook, citing signs of stabilization in the world's credit markets and economies.

Stock index futures rose on Tuesday, a day after the S&P 500 hit its highest closing level in eight months, after Caterpillar Inc posted stronger-than-expected quarterly results.

U.S. consumers will spend 8.5 percent to 12 percent less this year on back-to-school items than they did last year, as cash-strapped parents try to get children to wear last year's fashions, a retail industry monitor said on Tuesday.

Coca-Cola Co reported a better-than-expected quarterly profit on Tuesday, as growth in markets such as India and China helped offset the impact of the stronger U.S. dollar.

U.S. machinery maker Caterpillar Inc posted stronger-than-expected quarterly earnings on Tuesday, and raised its full-year outlook, citing signs of stabilization in the world's credit markets and economies.

Federal Reserve Chairman Ben Bernanke said the huge amounts of money the U.S. central bank has pumped into the economy will not undercut its ability to push borrowing costs higher when the time is ripe.

China's Sinopec Corp said its domestic fuel sales improved in the second quarter after a deep decline at the start of this year, but remained weaker than early estimates of oil demand.

U.S. oilfield services company BJ Services Co (BJS.N) reported a quarterly net loss on Tuesday as oil and gas producers ratcheted back activity in response to weaker oil and gas prices.