Before the bell 7-11-07: GE, RYL, AAPL, C, GOOG ...

Main market news here.

According to the Wall Street Journal, General Electric Company (NYSE: GE) may take a charge of no more than $200 million to cover for losses on subprime mortgages. If this is true, that's already after a $500 charge in the first quarter for subprime losses. GE reports results on Friday.

Luxury homebuilder Ryland Group Inc. (NYSE: RYL) said yesterday it expects to post a second-quarter loss as a result of the continued slump in the housing market. Ryland expects to report a loss of $1.25 to $1.35 per share for the quarter.

New day, new high. That seems to have been the case a while now for Apple Inc. (NASDAQ: AAPL) shares. Yesterday, after an analyst speculated that the company would come out with a less expensive, smaller iPhone in the fourth quarter, Apple shares traded as high as $134.50, setting a new 52-week high, before closing at at $132.35, up $2.02, or 1.5%.

After buying Japan's Nikko Cordial Corp., Citigroup Inc. (NYSE: C) continues its effort to a presence in the Asian country and is now taking steps to list its shares on the Tokyo Stock Exchange.

Google Inc. (NASDAQ: GOOG) is introducing tools that will stitch together applications from a several sites for its Google Map service. It wants to unite the information mishmash by encouraging mashup developers to package the creations into mini-applications called "mapplets" that will be posted under the "My Maps" section of Google, thus personalizing the service further.

Microsoft Corp. (NASDAQ: MSFT) yesterday announced a deal with Walt Disney Co. (NYSE: DIS) to make 35 Disney movies available for download on its online video game service, Xbox Live.
Despite Microsoft saying it wouldn't follow Sony (NYSE: SNE) and cut prices on its Xbox gaming console, Bloomberg reports the company indeed plans to cut the price of the Xbox 360 to compete with Nintendo Co.'s top-selling Wii.

Notable calls this morning:

• Campbell Soup (NYSE: CPB) was upgraded by JP Morgan from Neutral to Overweight.
• NYSE Euronext (NYSE: NYX) was upgraded by Lehman Brothers from Equal-weight to Overweight
• Yum Brands Inc. (NYSE: YUM) was upgraded ahead of its earnings tonight from Neutral to Buy. YUM shares are gaining 2.4% in pre-market trading (8:02 a.m.).
  
• Halliburton (NYSE: HAL) was downgraded by RBC Capital Markets from Outperform to Sector Perform. HAL shares are down 1% in pre-market trading (8:08 a.m.).