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RETAIL
Cendant-Galileo deal in trouble
The hotel, real estate and rental car giant's $2.9 billion bid for travel reservation firm Galileo International hit a snag when European regulators halted their review and requested more data. An initial decision to OK the deal or begin a lengthy probe was due Monday. Meanwhile, the Justice Department has reopened its probe. Rival Marriott International has questioned if Cendant would use Galileo to favor its own hotels. Cendant said it still expects to close the deal this quarter.
Fleming's 2nd-qtr net climbs 31%
The No. 2 U.S. wholesale food supplier earned 46 cents a share in the quarter, up from 35 cents a year ago. That beat estimates by 4 cents. Sales climbed 5% to $3.5 billion. It also reaffirmed its full-year profit estimate of $1.96, in line with analysts. Fleming, which serves retailers including Kmart, cited growth in its distribution unit. Its shares rose 1.56, or 4%, to 36.98.
Used car retailer CarMax Auto Superstores expects to earn 24 to 25 cents in its second quarter, above views of 22 cents, the Circuit City unit said.
APPAREL