video transcript

More cuts for American Airlines and a changing of the guard at Goldman here's your morning call for Wednesday. Planning on taking a trip this month and next change your airline wisely. American Airlines will cut to 2% of its flights in September October. Worse yet the troubled airlines told more than 111000 workers they can lose their jobs as part of its bankruptcy reorganization. Last week the AMR units started cost cutting efforts unionized pilot after gaining bankruptcy court approval to abandon its collective bargaining agreement. Stock futures trading a little higher this morning after a couple -- sessions. Investors are ready and waiting to see some real evidence of housing recovery housing starts for August at 8:30 am. A Reuters survey forecast a rise of 60765000. Homes existing home sales for August are also -- that -- This morning the NBA reporting US mortgage refinance applications rose last week as rates hit record lows. Oil prices lost ground this morning on concerns about Spain's finances. And may look even further after the Financial Times reported Saudi Arabia is -- a boost in oil out it. Goldman Sachs has selected a new chief financial officer. Senior trading executive Harvey Schwartz will replace David near the longest serving CFO on Wall Street. It's the latest switch and a series of executive -- as the investment bank prepares for a change in top management. Schwartz is among a small group -- top -- who are considered potential successors for Lloyd Blankfein when he would eventually stepped down. Never some stocks to watch Microsoft raised its dividend by 15%. Marking a slowdown in the growth path to investors after a year of weak computer sales. Blackstone Group is closing in agreement to buy -- security provider didn't according to people familiar with the talks. The deal -- about even at two billion dollars. And -- closed on their deal to sell half its stake an Alley baba providing the company with three billion dollars to give back to shareholders. Also companies reporting results today include Adobe Systems General Mills and Bed, Bath & Beyond. That's -- morning call for Wednesday follow us on Twitter at Reuters Insider and check at the latest headlines. Also on our -- YouTube channel Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.