Reuters: Hot Stocks: PRESS DIGEST - Financial Times - July 26

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PRESS DIGEST - Financial Times - July 26 Jul 26th 2013, 00:20 July 26 | Thu Jul 25, 2013 8:20pm EDT July 26 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines US attorney says SAC 'magnet for cheaters' (link.reuters.com/zyr89t) Amazon reports unexpected quarterly loss (link.reuters.com/bas89t) Zynga hit as it sees hard times ahead (link.reuters.com/cas89t) GSK replaces head of China operations (link.reuters.com/das89t) Five charged over hacking organisation (link.reuters.com/fas89t) Tourre denies creating 'monstrosities' (link.reuters.com/gas89t) Overview U.S. prosecutors filed criminal charges against billionaire Steven A. Cohen's $14 billion hedge fund, SAC Capital, in the biggest blow yet in their crackdown on insider trading, a move that could end the career of one of Wall Street's most successful investors. Jeff Bezos-led Amazon.com Inc reported an unexpected second-quarter net loss of $7 million, pushing its shares down, which might cast doubts over the online retailer's ability to generate long-term profits. Shares in Zynga Inc fell more than 14 percent in after-hours trading on Thursday after it said it would abandon its long-running efforts to build a real-money gaming business in the United States and warned of tough times ahead. GlaxoSmithKline Plc has replaced the head of operations in China with one of its top European executives, amid a widening corruption scandal in China that has rocked Britain's biggest drugmaker. U.S. prosecutors said on Thursday they have charged five men with the theft of 160 million credit card numbers as part of a hacking organisation, resulting in what they said will be the largest hacking and data breach scheme ever prosecuted in the United States. Former Goldman Sachs trader Fabrice Tourre on Thursday said he "deeply" regretted an email in which he joked about selling subprime mortgage bonds "to widows and orphans", after being grilled by lawyers in a securities fraud trial. (Compiled by Abhirup Roy in Bangalore; Editing by Richard Pullin) Link this Share this Digg this Email Reprints

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