Update VERSION and NEWS for release

Signed-off-by: Ralph Castain <rhc@pmix.org>

VERSION

@@ -16,7 +16,7 @@
 
 major=4
 minor=2
-release=6
+release=7
 
 # greek is used for alpha or beta release tags.  If it is non-empty,
 # it will be appended to the version number.  It does not have to be
@@ -116,7 +116,7 @@ date="Unreleased developer copy"
 # Version numbers are described in the Libtool current:revision:age
 # format.
 
-libpmix_so_version=11:2:9
+libpmix_so_version=11:3:9
 
 # "Common" components install standalone libraries that are run-time
 # # linked by one or more components.  So they need to be versioned as

docs/news/news-v4.x.rst

@@ -4,6 +4,20 @@ PMIx v4.x series
 This file contains all the NEWS updates for the PMIx v4.x
 series, in reverse chronological order.
 
+4.2.7 -- 23 Oct 2023
+--------------------
+ - PR #3178: Multiple commits
+    - Fix couple of bugs in cmd line parser
+    - Fix typo in cmd line processor
+ - PR #3172: Multiple commits
+    - Make checking min versions consistent
+    - Add an action to test older HWLOC version
+    - Touchup the OMPI integration
+ - PR #3170: Remove spurious "error log"
+ - PR #3167: Blacklist the HWLOC GL component to avoid deadlock
+ - PR #3161: Add a new Github Action
+ - PR #3159: Update the "group" example
+
 4.2.6 -- 9 Sep 2023
 ----------------------
 .. warning:: CVE-2023-41915