Tropical Storm Philippe neared hurricane status as it churned in the Atlantic Ocean, the National Hurricane Center in Miami said Thursday. Philippe, with maximum sustained winds of 70 mph, was about 735 miles southeast of Bermuda and moving north-northeast at 8 miles per hour, the center said in its 5 a.m. EDT advisory. No coastal watches or warnings were in effect. Philippe was expected to become a hurricane later Thursday as it shifted more toward the northeast and picked up forward speed, the center said. Philippe was expected to slowly weaken beginning Friday, the center said.