China said it would no longer peg the yaun and will tie its currency to a basket of currencies, a possible first step to letting the yuan float freely. The yuan is up 2%. The move is long anticipated.
Caterpillar (CAT | Quote | Chart | News | PowerRating) beat by 0.07 and raised guidance.
SBC Communications (SBC | Quote | Chart | News | PowerRating) reported 0.43, beating by 0.06; revenues were also higher. Q2
Ebay (EBAY | Quote | Chart | News | PowerRating) beat by 0.03 and raised guidance. Sales topped $1 billion.
United Parcel Service (UPS | Quote | Chart | News | PowerRating) beat by 0.02 and guided in-line.
Coca-Cola (KO | Quote | Chart | News | PowerRating) beat by 0.04. The company plans to buy back $2 billion in shares in 2005; in Q2 it bought back $1 billion.
Schering Plough (SGP | Quote | Chart | News | PowerRating) beat by 0.08
Qualcomm (QCOM | Quote | Chart | News | PowerRating) beat by 0.03 and boosted. Q3 profit rose 15%.
Allstate (ALL | Quote | Chart | News | PowerRating) beat by 0.15 and raised guidance. Net income rose 11%.
DR Horton (DHI | Quote | Chart | News | PowerRating) reported 1.17 vs 1.09 estimate and raised its 2005 forecast.
Washington Mutual (WM | Quote | Chart | News | PowerRating) beat by 0.12.