Reuters - U.S. stocks rallied on Wednesday, driving the Dow to a two-week high and pushing the Nasdaq up more than 1 percent, as strong earnings from FedEx Corp. and Morgan Stanley renewed investors' optimism about corporate profits.

Reuters - Ford Motor Co. , facing deep skepticism about its turnaround strategy, said on Wednesday it was on track to meet its goal of making its North American auto business profitable by 2008 and remained committed to that target.

Reuters - Package delivery company FedEx Corp. said on Wednesday that its quarterly net profit rose 27 percent as strong international and U.S. economic growth translated into higher package volumes.

Reuters - U.S. investment bank Morgan Stanley on Wednesday said second-quarter earnings more than doubled, trouncing expectations and offering investors a sign that the firm's year-long turnaround efforts are starting to bear fruit.