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U.S. markets news

U.S. Economy Grew Less-Than-Forecast 1.2% in Second Quarter
The U.S. economy expanded less than forecast in the second quarter after a weaker start to the year than previously estimated as companies slimmed down inventories and remained wary of investing amid shaky global demand.
US GDP Grew a Disappointing 1.2% in Second Quarter  Wall Street Journal
How slow is US economic growth? 'Close to zero'  CNBC
Forbes  
Exxon Has Worst Profit Since '99 as Chevron Posts Surprise Loss
Exxon Mobil Corp. and Chevron Corp. missed profit and production estimates as wildfires, writedowns and weak refining margins battered oil explorers already reeling under a glut-driven price collapse.
Low Crude Prices Hammer Big Oil Companies  Wall Street Journal
Oil rout erodes second-quarter profits for US majors Exxon, Chevron  Reuters
Stock Market News for July 29, 2016
Despite decline in energy stocks, benchmarks ended mostly in the green on Thursday on the back of gains in major tech companies. Facebook's encouraging second quarter earnings results boosted the S&P 500 and Nasdaq to end in the green.
S&P, Dow open lower on weak earnings, data  StreetInsider.com
US: Shares open lower  THE BUSINESS TIMES
Abandoned newborn found at Orange County apartment
ORLANDO, Fla. —Deputies in Orange County are investigating a case involving an abandoned newborn baby boy. Never Miss a Beat. Download the WESH 2 News app to stay on top of the latest news in Central Florida and beyond.
Newborn baby found abandoned on Orange County apartment porch  WKMG Orlando
Seres Therapeutics Sinks 74% After Lead Drug Fails in Study
Seres Therapeutics Inc. shares lost three quarters of their value Friday after the biotechnology company said its lead experimental drug failed in a clinical trial testing it against hard-to-treat intestinal infections.
Seres Plunges on Microbiome Drug Fail, Execs Profit on Insider Sales  TheStreet.com
Gut check: Seres Therapeutics shares plunge 75% after microbiome drug fails ...  CNBC
Amazon's ability to turn a profit is no longer a cool trick
Just two years ago, the sole story of Amazon's second quarter would have been the nearly $900 million in profit that it generated.
Amazon's Second Quarter Puts Competition In Rearview Mirror  InformationWeek
Amazon boss Bezos becomes world's third richest  BBC News
Strong Google Ad Demand Boosts Alphabet's Stocks, Beating Expectations: Q2 ...
Google recently announced its quarterly earnings, and the results are encouraging. The high demand for Google ads, especially on a certain platform, boosted the revenue and profits of the company as well as the value of Alphabet's shares.
Data Sheet—Friday, July 29, 2016  Fortune
Analysts adopt Alphabet management's cautiously optimistic tone on ...  MarketWatch
NextEra Agrees to Buy Oncor in $18.4 Billion Utility Deal
NextEra Energy Inc. agreed to buy Energy Future Holdings Corp.'s Oncor Electric Delivery Co. LLC, adding the largest electric transmission operator in Texas in a deal valued at about $18.4 billion.
Florida-based NextEra agrees to $18.4B deal to buy Texas electricity giant Oncor  Dallas Morning News
Notable Mergers and Acquisitions 7/29: (STO)/(PBR) (NEE)  StreetInsider.com
UPS earnings in line and revenues beat; helped by higher delivery volume
United Parcel Service reported quarterly earnings that were in line with analysts' expectations, and revenues that beat estimates on Friday, helped by new technologies that boosted productivity.
Rising revenue boosts UPS profit; 2016 forecast confirmed  Reuters
UPS Warns of 'Head Winds' in Global Economy for Second Half  Bloomberg
UPDATE 2-Drugmaker AbbVie bumps up profit forecast on strong Humira sales
(Adds details, analyst comment; updates shares). July 29 AbbVie Inc posted higher-than-expected quarterly profit and revenue, driven by demand for its flagship drug Humira, and raised its earnings forecast for the year.
AbbVie Reports Second-Quarter 2016 Financial Results  PR Newswire (press release)
AbbVie (ABBV) Stock Up After Q2 Beat  TheStreet.com