Main market news: Before the bell 8-3-07: Street awaits jobs data, futures mixed

Procter & Gamble Co. (NYSE: PG) reported a 19% jump in its fiscal fourth-quarter profit this morning on sales growth and improved margins. The company's net income for the quarter rose to $2.27 billion, or 67 cents per share. Sales rose 8% to $19.27 billion. On average, analysts forecast a quarterly profit of 66 cents per share on sales of $19.11 billion.

Microsoft Corp. (NASDAQ: MSFT) has cut the retail price of its Vista home basic computer operating software package in China by more than half to 499 yuan ($66) from 1,521 yuan, and the price of its premium package to 899 yuan from 1,802 yuan, effective from Aug. 1.

The New York Times reported that Citigroup Inc.'s (NYSE: C) CEO Charles Prince said that despite the recent market pullback he is bullish on the bank's growth.

The New York Times also reported today that Ford Motor Co. (NYSE: F) is hoping to have a tentative deal to sell its Land Rover and Jaguar operations by Sept. 30, and a pact to dispose of Volvo by the year-end.

General Electric Co. (NYSE: GE) won EU approval to sell its plastics division to petrochemicals manufacturer Saudi Basic Industries for about $11.6 billion. The deal is expected to create a net gain, after taxes, of $1.5 billion.

The Wall Street Journal, quoting General Motors Corp. (NYSE: GM)'s new president for Thailand and Southeast Asia, the company is looking for investment opportunities in Malaysia and Indonesia [subscription required].

According to the Wall Street Journal, Amazon.com, Inc. (NASDAQ: AMZN) has begun delivering fresh groceries [subscription required] to a Seattle suburb as part of a pilot program to test this new businesses.

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