Stocks: Another Wild Mood Swing

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com/ticker/' rel='ticker'>DAI), soon to be renamed Daimler after the sale of Chrysler earlier this year, reported net profits of $2.5 billion, vs. $2.9 billion a year ago as sales fell 3%. The firm says it will buy back almost 10% of its shares, spending up to €7.5 billion.

Borders Group (BGP) reported a loss of 26 cents in the second quarter, vs. 23 cents a year ago. Charges offset a 10% rise in total revenues. Same-store sales rose 4.6% at Borders superstores and 6.2% at Waldenbooks stores.

Alliant Techsystems (ATK) says it was disappointed it was not awarded a NASA contract, but continues to expect earnings of $6.15 to $6.25 per share in fiscal 2008.

Big Lots (BIG) saw same-store sales rise 5.2% and total sales rise 2.7% in the second quarter. The retailer reported earnings of 21 cents per share, vs. 4 cents a year ago, and raised its earnings estimate for fiscal 2008.

Google (GOOG) announced its chief financial officer is retiring by the end of the year.

Williams-Sonoma (WSM) reported earnings of 24 cents per share, vs. 25 cents a year ago as same-store sales rose 1.2%.

Dillard's (DDS) reported a 31 cent per share loss, vs. 20 cents earnings a year ago. Same-store sales fell 3% and total sales dropped 2%.

European markets moved higher Wednesday, while Asian markets fell overnight. London's FTSE 100 Index was up 0.49% to 6,132.2. Germany's DAX index rose 0.12% to 7,439.18. In Paris, the CAC 40 index moved up 0.84% to 5,520.02.

In Japan, the Nikkei index dropped 1.69% to 16,012.83. In Hong Kong, the Hang Seng index fell 1.47% to 23,020.6. The Shanghai composite index was off 1.64% to 5,109.43.

Treasury Markets

Bonds fell in price ahead of Thursday's second-quarter GDP report and Bernanke's speech on Friday. The 10-year note was lower at 101-22/32 for a yield of 4.543%, while the 30-year bond was lower at 102 for a yield of 4.874%.

Steverman is a reporter for BusinessWeek's Investing channel.