ALSO NOTED: Commerce posts Q2 decline; Smith Barney to pay $50 million to settle timing charges; and much more...

Company News:
> Commerce posts Q2 decline. Article
> LaBranche's earnings woes continue. Article
> Countrywide cuts earnings forecast. Article
> Citigroup initiates coverage of Discover. Article
> Evercore upgraded by Keefe Bruyette. Article

Industry News:
> CME, CBOT post strong earnings. Article
> Countrywide issues mortgage warning. Article

Regulatory News:
> Smith Barney to pay $50 million to settle timing charges. Article

And Finally... Homeless guy fares well in financial services. Article