Cyberonics says gets OK for pulse generators

(Reuters) - Cyberonics said vagus nerve stimulation therapy treats
depression and refractory epilepsy.





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Vodafone mulls $160 bln bid for Verizon - report

(Reuters) - NEW YORK, July 16 - Wireless telecommunications company Vodafone Group Plc has been considering a $160 billion takeover bid for Verizon Communications Inc. , the Financial Times reported on Monday on its Alphaville Web site.



The report triggered a 12.5 percent jump in Verizon's share price in pre-market trade.


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SGS profits rise, mergers and margins dent shares

(Reuters) - The Geneva-based SGS, whose initials stand for Societe Generale de Surveillance, said its full-year performance should be consistent with its 2008 outlook for 5 billion Swiss francs in revenues and operating margins of 17 percent.




While its 234 million Swiss franc net profit was in line with market forecasts, first-half operating margins of 15.5 percent were "clearly disappointing", said Kepler analyst Roger Steiner.


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Countrywide June loans up 4 pct

(Reuters) - Calabasas, California-based Countrywide makes roughly one in six U.S. mortgage loans. It has long said it expects to add market share as the housing slump and a growing inability among homeowners to keep up with payments cause weaker rivals to fold or lend less.




"The housing market continues to soften, and delinquencies and defaults continue to rise," Chief Operating Officer David Sambol said in a statement. "Interest rates, price competition in the residential lending markets and secondary market volatility have all increased."


Read more at Reuters.com Economic News

Grainger posts higher quarterly profit

(Reuters) - Analysts had expected earnings of $1.19 a share, according
to Reuters Estimates.




Sales at the company, which sells such items as lighting,
motors and janitorial supplies needed by contractors and
facility managers to run their buildings, rose to $1.6 billion
from $1.48 billion. Wall Street was expecting $1.59 billion.



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IHOP says to buy Applebee's for $2.1 billion

(Reuters) - Excluding charges related to the acquisition, IHOP expects the transaction to add to earnings beginning in 2008.




IHOP, which franchises almost all of its restaurants, said it believes it can re-energize Applebee's by franchising a substantial majority of Applebee's 508 company-operated restaurants.


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Rand Drops on View Recent Gains Already Reflect Interest-Rate Outlook

(Bloomberg) -- South Africa's rand fell against the
dollar, snapping a three-day gain, on speculation that recent
gains already reflect the outlook for higher interest rates.

The rand last week touched its highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing Japanese yen or Swiss
francs more cheaply. The Reserve Bank has increased borrowing
costs five times in the past year and is expected to continue
doing so to curb inflation.


Read more at Bloomberg Currencies News