• Red Hat (NYSE:RHT) reported fiscal second quarter results of 20 cents a share, compared with Zacks estimates of 11 cents a share, on revenues of $183.6 million, versus estimates of $179.0 million

• Deutsche Bank (NYSE:DB) cut AutoZone (NYSE:AZO) price target to $150 from $175 but maintained its “hold" rating on the stock

• Reports say modifications on the Boeing (NYSE:BA) 787 Dreamliner test plane suggest the first flight is possible by late October or early November

• The corporate head of Microsoft's (NASDAQ:MSFT) Game Studios division ruled out plans to acquire video game publisher Electronics Arts (NASDAQ:ERTS)

• Abbott Laboratories (NYSE:ABT) has offered to buy the drug unit of Belgian's conglomerate Solvay SA

• Deutsche Bank (NYSE:DB) raised its price target for HB Fuller (NYSE:FUL) to $23 from $18, while maintaining its "hold" rating

• Goldman Sachs (NYSE:GS) raised its price target on Buffalo Wild Wings (NASDAQ:BWLD) to $46

• Nintendo lowered its Wii price

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US markets closed marginally lower Wednesday, capping a four-day rally, as some lackluster economic data kept investors from taking big positions.  Investors appeared to be cautious ahead of the government’s monthly report on job losses and the unemployment report, which comes out on Friday.  Yesterday’s pullback reversed Wall Street’s recent run, which has been spurred by better-than-expected corporate earnings and hopes that the worst of the economic crisis has passed.   

The Dow Jones industrial average declined 39 points, or 0.4%, the Standard & Poor's 500 lost 3 points, or 0.3%, and the tech-heavy Nasdaq composite retreated 18 points, or 0.9% after disappointing data on private payrolls and the services sector dented some optimism.  However, the Commerce Department reported an unexpected 0.4% rise in orders for manufactured goods in June.  On the NYSE, volume was a moderate 1.53 billion as decliners outpaced advancing shares by 8 to 7

Treasuries fell,

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Activision Blizzard, Inc. ( (…

White House and Democrats tentatively agree to auto aid… Eastman Kodak, Electronic Arts warn on outlook… Energy shares could get lift from higher oil prices

U.S stocks headed for a higher open on Wednesday as news the White House and congressional Democrats reached an agreement in principle to aid U.S. automakers. including General Motors , calmed investors’ worries.

But signs of further deterioration in the world economy and the profit outlook, including big job losses at an global mining company, fueled caution a day after stocks sell-off ended two straight days’ of gains.

Without government help. investors fear that a possible failure or bankruptcy in the auto sector could send shock waves through the economy and worsen unemployment.

Backers of the $15 billion proposal for bailing out U.S. automakers could come to a vote in the House as early as Wednesday, officials said.

“Investors have been concerned

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By Jason Simpkins Associate Editor Electronic Arts Inc. (ERTS) dropped its $2 billion hostile takeover of video game publisher Take-Two Interactive Software Inc. (TTWO) yesterday (Monday), but... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first.