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* Inc.'s net income hit a record high in its second quarter, as the company posted diluted EPS that more than doubled analyst expectations. For the three months ended June 30, the e-commerce giant reported diluted EPS of $5.07, an increase from the 40 cents it recorded in the year-ago period and beating the S&P Capital IQ mean consensus estimate for GAAP EPS of $2.51. Net income increased to $2.53 billion in the second quarter, higher than the S&P Capital IQ mean consensus estimate for GAAP net income of $1.25 billion. In the same quarter last year, Amazon posted net income of $197 million.

* U.K. consumer goods maker Reckitt Benckiser Group PLC reported first-half earnings above expectations due to the strength of its infant formula and child nutrition business, and it boosted its guidance for full-year 2018 revenue. The company said it increased its target for total net revenue growth at constant rates to 14% to 15% from a previous goal of 13% to 14%, implying like-for-like revenue growth at the upper end of its 2% to 3% range. Reckitt Benckiser reported that adjusted diluted EPS in the six months to June 30 rose to 139.9 pence from 124.9 pence, beating a mean consensus of 139 pence compiled from three analysts' estimates, according to data from S&P Capital IQ.


* French luxury group Kering SA posted a surge in first-half net profit as it booked a capital gain on the spinoff of its PUMA SE division. The company reported group share of net income for the six months ended June 30 of €2.36 billion, a 185.7% increase from the €825.8 million reported in the same period in 2017. Diluted EPS was €18.74, compared to €6.55 reported in the prior-year period. In a separate release, Kering said Laurence Boone resigned as an independent director July 26 as Boone was appointed chief economist of the Organization for Economic Cooperation and Development.

* U.S. sportswear company Under Armour Inc. expects net revenue to increase approximately 3% to 4% in fiscal 2018 after posting $1.2 billion in revenue for the second quarter ended June 30, an 8% year-over-year increase. The company reported a loss of $96 million in the second quarter, or 21 cents per diluted share, missing the S&P Capital IQ consensus estimate of $87.23 million in net loss, or 18 cents per diluted share, with four analysts reporting.


* German online fashion retailer Zalando SE will open its first physical store in Berlin this week, Reuters reported. The company reportedly plans to host makeup master classes and launch exclusive products to boost its brand in the cosmetics, skin care and fragrance products market. The report comes after Zalando started selling branded beauty products online in Germany in March.

* E-commerce platform Etsy Inc. has set up a team in India to help entrepreneurs market and sell their handcrafted products globally, The Economic Times of India reported, citing Etsy India Managing Director Himanshu Wardhan.


* Cosmetics company L'Oréal SA's first-half net profit and EPS beat expectations as the company vowed to generate "significant" like-for-like sales growth and growth profits in fiscal 2018. The company reported diluted EPS of continuing operations, excluding nonrecurring items, of €4.08 for the six months ended June 30, coming in higher than the S&P Capital IQ normalized consensus estimate of $3.92. Net profit excluding nonrecurring items for the first half reached €2.30 billion, up 5.2% from the €2.19 billion it reported the year before. The S&P Capital IQ consensus estimate for net profit excluding nonrecurring items was $2.2 billion.

* New York-based consumer goods manufacturer Colgate-Palmolive Co. reported lower-than-expected second-quarter adjusted EPS even as net profit topped analyst expectations. Diluted EPS for the three months ended June 30 totaled 73 cents, below the mean consensus estimate for normalized EPS of 77 cents compiled by S&P Capital IQ. Net income on a non-GAAP basis increased to $673 million from $639 million for the same period in 2017. The S&P Capital IQ mean consensus estimate for net income excluding exceptions was $672.02 million.


* Supermarket supplier United Natural Foods Inc. is planning to acquire wholesaler and grocer SuperValu Inc. for $2.9 billion, a deal that gives UNFI a larger share of the increasingly competitive grocery supply market, according to a joint statement released by the two parties. Under the proposed deal, UNFI will shed SuperValu's retail assets and will take on SuperValu's outstanding debt and other liabilities.


* French supermarket operator Carrefour SA said it is on track to achieve the targets under its Carrefour 2022 transformation plan after seeing progress in the first half of 2018. For the first half of the year, the supermarket chain grew 5.8% in operating profits due to strong international sales despite sluggish performance in its home market due to increased competition. Recurring operating profit reached €597 million at constant exchange rates, higher than the S&P Capital IQ mean consensus estimate of €545.2 million. However, adjusted net income from continuing operations slid to €131 million, compared to last year's €154 million.


* LG Electronics Inc., Panasonic Corp., Whirlpool Corp., Godrej Consumer Products Ltd. and other home appliance makers will cut prices in India by 7.8% to 9% on select appliances to pass on the country's 10% reduction on goods and services tax to consumers, The Economic Times of India reported. The decision comes after the Indian government dropped goods and services tax on a range of consumer electronic products to 18% from 28%.

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The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng increased 0.08% to 28,804.28, and the Nikkei 225 rose 0.56% to 22,712.75.

In Europe, around midday, the FTSE 100 was up 0.58% to 7,707.50, and the Euronext 100 was up 0.24% to 1,078.64.

On the macro front

The GDP report, the consumer sentiment report and the Baker-Hughes Rig Count report are due out today.

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