PRESS DIGEST - Wall Street Journal - July 4

July 4 Thu Jul 4, 2013 1:09am EDT

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July 4 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* The leader of Egypt's military ousted President Mohammed Morsi from office and replaced him with the head of the country's constitutional court-a move the presidential palace quickly branded a "complete military coup. ()

* Egypt's swift political turn cast sudden scrutiny on the country's new interim president - Adly Mansour, the head of Egypt's Supreme Constitutional Court, a position he assumed just two days earlier. ()

* The Obama administration's surprise decision to delay penalties for some employers who don't offer health insurance led to a new debate Wednesday over whether the move could undermine efforts to expand access to health insurance for individuals. ()

* The Securities and Exchange Commission has frozen the assets of a group of unnamed traders who earned $4.6 million in potentially illegal profits by trading in Onyx Pharmaceuticals Inc before the cancer drug-maker rejected an unsolicited acquisition offer from rival Amgen Inc ()

* Portuguese political leaders worked to preserve the country's strained governing coalition late Wednesday, after the resignations of a pair of key ministers touched off a deep swoon in European financial markets and hinted at a reawakening of the euro zone's debt crisis. ()

* Four months after Samsung Electronics launched the Galaxy S4 smartphone, brokerages are downgrading the company's stock and cutting their shipment and earnings forecasts, noting that sales of Samsung's high-end smartphone are expected to be disappointing based on component orders placed for the third quarter. ()

* Two gauges of the labor market showed steady, if unspectacular, strength Wednesday, ahead of a payroll report Friday that could signal the immediate future of one of the Federal Reserve's easy-money policies. ()

* The Food and Drug Administration plans to issue a new rule by September that would allow generic-drug companies to make changes in their labeling, a step that could open the generic drug makers up to liability if their drugs injure patients.()

* Stadium food vendor Aramark Corp is preparing to return to the public markets with an initial public offering, according to people familiar with the company's thinking, paving the way for one of the country's largest closely held companies to return to public ownership. ()

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