Business Today: Technology earnings boost Wall Street

	Click to View in Browser 07/19/2012 Technology earnings boost Wall Street NEW YORK (Reuters) - Stocks rose on Thursday for a third straight day, with the S&P 500 at a 2-1/2 month high, as earnings from technology companies and expectations for more monetary stimulus outweighed weak economic data. Google reports $12.2 billion in second-quarter revenue (Reuters) - Google Inc's core Internet business boosted revenue 21 percent in the second quarter, while its recently acquired Motorola Mobility business raised Google's overall revenue to $12.21 billion. Data shows economy mired in weakness WASHINGTON (Reuters) - The slowdown in the U.S. economy persisted early in the third quarter with factory activity in the U.S. Mid-Atlantic region contracting in July for a third straight month and new claims for jobless aid surging last week. Microsoft reports quarterly loss after charge NEW YORK (Reuters) - Microsoft Corp reported its first quarterly loss as a public company on Thursday as it took a previously announced charge for writing down the value of its ailing online unit. Morgan Stanley plans further staff cuts on weak outlook (Reuters) - Morgan Stanley expects to reduce payroll by just over 1,000 employees by the end of this year, part of a plan to cut headcount by 7 percent as measured from the end of 2011, as it prepares for weak economic growth globally and low trading volume, the investment bank said on Thursday. Exclusive: Ex-Goldman mortgage chief plans foreclosed home fund By Matthew Goldstein, Jennifer Ablan and Lauren Tara LaCapra Facebook, Wal-Mart chiefs meet to "deepen" relationship (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg is about to add the biggest retail players to his list of friends. GM announces production of Chevrolet Trax in Mexico MEXICO CITY (Reuters) - U.S. carmaker General Motors Co. on Thursday said it would build the Chevrolet Trax vehicle and a new generation of pickups at plants in Mexico. Fitch affirms Italy's last single-A rating, outlook negative MILAN/NEW YORK (Reuters) - Fitch Ratings affirmed Italy's long-term sovereign debt rating at 'A-' on Thursday, averting for now the threat of aggressive forced selling by bond traders if the country had lost its only remaining single-A mark. Court allows AMR to keep reins on bankruptcy until December NEW YORK (Reuters) - American Airlines' bankrupt parent AMR Corp won court approval on Thursday to extend through December 28 its exclusive right to present a plan to emerge from bankruptcy. Related Video Trading at Noon: Tech leads Wall St. higher for 3rd day Breakingviews: The Morgan Stanley caboose Economic News Data shows economy mired in weakness Philly Fed factory activity shrinks for third month in July A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend