Business Today: Stock futures bounce after sell-off

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Good Morning Aron, WED 20 Oct 2010    Stock futures bounce after sell-off Morgan Stanley reports loss on weak trading Boeing reports profit on plane sales Amylin, Lilly, Alkermes shares tumble on Bydureon setback Wells Fargo profit rises on lower loan losses Mortgage applications slump as rates rise from lows BlackRock profit tops estimates on strong inflows BHP's Potash bid faces pressure from Canadian province Regulators to recommend abolishing mandatory ratings United Tech profit up 13 percent, raises forecast Toshiba to beat H1 forecast China hike rattles Asian stocks Bank of America mortgage woes Stock futures bounce after sell-off October 20, 2010 08:04 AM ET NEW YORK (Reuters) - Stock index futures rose on Wednesday as dissipating fears about the effect of an interest rate increase in China weighed on the U.S. dollar and lifted global equities. Full Article Morgan Stanley reports loss on weak trading October 20, 2010 08:18 AM ET NEW YORK (Reuters) - Morgan Stanley reported a third-quarter loss as slumping trading volumes weighed on its trading business. Full Article Boeing reports profit on plane sales October 20, 2010 08:00 AM ET CHICAGO (Reuters) - Boeing Co , the world's largest aerospace and defense company, on Wednesday posted a quarterly profit, reversing a year-ago loss, as the commercial airplane market recovered from a downturn. Full Article Amylin, Lilly, Alkermes shares tumble on Bydureon setback October 20, 2010 08:14 AM ET NEW YORK (Reuters) - Amylin Pharmaceuticals' shares lost half their value in premarket trading on Wednesday, after U.S. regulators declined to approve its long-acting diabetes drug until more data is obtained on its potential effect on heart rates. Full Article Wells Fargo profit rises on lower loan losses October 20, 2010 08:07 AM ET NEW YORK (Reuters) - Wells Fargo & Co reported on Wednesday that third-quarter profit rose, as lower loan losses helped counter a drop in revenue. Full Article Mortgage applications slump as rates rise from lows October 20, 2010 08:30 AM ET NEW YORK (Reuters) - Mortgage applications slumped last week as interest rates on 15- and 30-year fixed-rate mortgages rose for the first time in six weeks, data from an industry group showed on Wednesday. Full Article BlackRock profit tops estimates on strong inflows October 20, 2010 08:10 AM ET NEW YORK (Reuters) - BlackRock Inc , the world's largest asset manager, reported a sharp rise in quarterly profits, beating Wall Street expectations as it attracted more assets from clients and the stock market rallied. Full Article BHP's Potash bid faces pressure from Canadian province October 20, 2010 07:47 AM ET WINNIPEG/LONDON (Reuters) - Canada's Saskatchewan province has opposed BHP Billiton's hostile bid for Potash Corp , prompting the mining giant to offer more concessions on tax revenue to get the $39 billion deal approved. Full Article Regulators to recommend abolishing mandatory ratings October 20, 2010 06:17 AM ET SEOUL (Reuters) - Financial regulators will recommend to the Group of 20 leading economies that they abolish, wherever possible, mandatory credit ratings for institutions or instruments accessing the public debt market, Financial Stability Board chief Mario Draghi said on Wednesday. Full Article United Tech profit up 13 percent, raises forecast October 20, 2010 07:33 AM ET BOSTON (Reuters) - Diversified U.S. manufacturer United Technologies Corp reported a 13 percent rise in profit, topping analysts' expectations, as commercial jet operators spent more on maintaining their aircraft. Full Article

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