GLOBAL MARKETS-Risk aversion sweeps across markets

(Reuters) - Both moves indicated that investors were pulling away from
riskier assets.




The FTSEurofirst 300 index of top European shares
ignored good earnings reports and fell 1.4 percent and Wall
Street looked set for a poor start.


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UPDATE 1-FBR to sell nonprime mortgage unit to Sun Capital

(Reuters) - FBR said the unit, which made more than $7.4 billion of
mortgage loans in 2006, will be recapitalized, with Sun Capital
investing $60 million and FBR investing $15 million. FBR also
expects to fund $15 million of expected losses in the unit, and
will keep ownership of $250 million of new mortgages, which it
hopes to sell or securitize.




In a statement, FBR Chief Operating Officer J. Rock Tonkel
said the transaction gives First NLC "liquidity to navigate
through an exceptionally difficult mortgage market environment,"
while leaving FBR with exposure to improvement in the business
once the market begins to recover.


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MarineMax 3rd-quarter profit falls

(Reuters) - Excluding items the company said it earned 50 cents per
share.





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National City profit falls 27 pct, mortgages weigh

(Reuters) - NEW YORK, July 26 - National City Corp , a large U.S. Midwest regional bank, said on Thursday second-quarter profit fell 27 percent, hurt by rising credit losses in mortgages and home equity loans, and pressure on commercial lending.



Net income for Cleveland-based National City fell to $347 million, or 60 cents per share, from $473 million, or 77 cents, a year earlier.


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Raytheon profit up on unit sale; raises forecast

(Reuters) - NEW YORK, July 26 - Raytheon Co. said on Thursday second-quarter net profit rose sharply, helped by a one-time gain from the sale of its aircraft unit and strong revenue from its missiles and military electronics units.



The U.S. No. 5 defense contractor also raised its full-year profit forecast, citing operational improvements across the board.


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Build-A-Bear Workshop posts lower second-quarter profit

(Reuters) - Total revenue rose 7.2 percent to $100.4 million.




Analysts on average expected the company to earn 8 cents a
share, including stock-compensation expense but before other
exceptional items, on revenue of $104.3 million, according to
Reuters Estimates.



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UPDATE 1-3M posts higher quarterly profit

(Reuters) - The company also raised its 2007 profit forecast.




Net income in the second quarter rose about 4 percent to
$917 million, or $1.25 a share, compared with $882 million, or
$1.15 a share, in the year earlier quarter.


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