Market Roundup (PCLN, BP, ICE, GD)

The market has accepted Priceline's PCLN story that there is more demand for travel. There has been an increase in booking rates across its travel business. However, strong Q2 results may be as a result of the overestimation of the adverse affect of the Icelandic volcanic eruptions. Following the success of BP's BP static-kill initiative to block oil leakage from the Macondo well, the country's top oil and gas regulator said that the ban on the deepwater drilling may be lifted before the November 30 deadline. Over the recent weeks, thirty three rigs have been grounded due to the ban. With a change in swaps clearing rules, IntercontinentalExchange ICE plans to register as a swap execution facility. This step will put ICE into direct competition with some big futures clients. ICE’s competitor CME Group CME opted against a similar move after swaps dealers resisted the move. General Dynamics GD has approved the buyback of a maximum of 10 million shares. The company has also retained its quarterly dividend of $0.42. Read more from Benzinga's Markets.