- S&P 5002,998.15+0.01%
- Dow 3026,993.40-0.12%
- Nasdaq8,155.24-0.02%
- Russell 20001,536.38-0.35%
- Crude Oil54.22+0.54%
- Gold1,496.10-0.15%
- Silver17.56-0.32%
- EUR/USD1.1143+0.1114%
- 10-Yr Bond1.7540-0.17%
- Vix14.01+1.60%
- GBP/USD1.2884-0.0567%
- USD/JPY108.4900-0.1142%
- BTC-USD7,964.30-1.72%
- FTSE 1007,171.46-0.15%
- Nikkei 22522,492.68+0.18%
- Reuters
Nissan on gradual recovery path, incoming CEO Uchida tells staff
Nissan Motor Co's incoming chief executive Makoto Uchida told employees on Friday that his mission is to "restore business performance and regain trust in Nissan". "Nissan is on the right path for recovery ... although it might be a gradual process," Uchida, who is Nissan's China chief, said in a video message posted on an internal company website. Uchida is expected to formally take up the CEO post by Jan. 1, 2020.
- Bloomberg
$16 Billion Wirecard Has Some Byzantine Accounting
The German fintech group has failed to respond convincingly to this week's allegations that some of its recent financial reporting may be incorrect. The newspaper said Wirecard emails and spreadsheets depicted a Dubai-based partner handling transactions for what looked like 34 key Wirecard clients, equivalent to one-quarter of the entire company's reported sales and half its Ebitda for that financial year. Wirecard swiftly denied “these allegations of impropriety” and called the lengthy article a compilation of several false and misleading claims.
- Barrons.com
Things Are Looking Up for Managed-Care Stocks, Analyst Says
Managed-care stocks have had a bad year, yet analysts at Mizuho Securities see hope. In a lengthy note initiating coverage on four leading managed-care companies, Mizuho's Ann Hynes wrote that she was bullish on the industry despite worries over possible health care policy changes in Washington. The S&P 500 Managed Health Care subindex is down 3% in 2019, while the broader S&P 500 is up 19.6% over the same period.
- American City Business Journals
Houston-based communications infrastructure co. posts revenue growth amid SEC investigation
Houston-based Crown Castle International Inc. (NYSE: CCI), one of Houston's largest public companies, posted quarterly revenue growth while fielding subpoena requests. In an Oct. 16 regulatory filing, Crown Castle announced that it received a subpoena from the U.S. Securities and Exchange Commission in September. The subpoena requested certain documents from 2015 through the present related to the communications infrastructure provider's "long-standing capitalization and expense policies for tenant upgrades and installations in its services business," per the filing.
- Reuters
Fallen fund star Woodford's firm suffers ignominious end
Once one of Britain's most celebrated money managers and idolized by a legion of investor devotees, the collapse of Neil Woodford's business has been swift and brutal. The 59-year-old moved quickly to call time on his eponymous asset management company late on Tuesday, hours after being sacked as manager of the firm's flagship fund by its administrator, Link Fund Solutions. The move followed four months of efforts to sell out of a number of unlisted and little traded stocks - some 20% of the fund's portfolio according to Britain's regulator - and raise cash to pay off investors irked by weak returns.
- MarketWatch
Why the bull market won’t end with a typical crash, says hedge fund billionaire Ray Dalio
The U.S. and China may be nearing a tentative, partial trade agreement but the IMF's new leader has warned the trade truce won't be enough to boost global growth. Another ongoing dispute may also be nearing a resolution, with the U.K. and EU agreeing a Brexit deal, though British MPs still have to approve it. But the U.S. has confirmed tariffs on $7.5 billion worth of European goods will take effect on Friday, proving that geopolitical tensions are here to stay.
- FX Empire
E-mini S&P 500 Index (ES) Futures Technical Analysis – Facing Wall of Resistance, Vulnerable to Steep Break
December E-mini S&P 500 Index futures are trading higher on Thursday as we approach the cash market close. The trade was a little lackluster for a fourth session despite the index hitting its highest level since September 24. The upside bias was primarily driven by strong earnings and the news of a deal between the European Union and the U.K. on Brexit.
- Bloomberg
Ex-Credit Suisse Banker Says Secret Affair Helped Fuel $45 Million Fraud
A former Credit Suisse Group AG banker told a federal jury in New York that his decision to take millions of dollars in bribes was fueled in part by his secret love affair with a subordinate. Andrew Pearse, 49, admitted he got at least $45 million for his role in arranging $2 billion in loans to companies in Mozambique. He's the U.S. government's first witness in the trial of Jean Boustani, a Privinvest Group salesman who's accused of defrauding U.S. investors.
- Bloomberg
U.S. Meat Export Federation's Haggard on China's Pork Demand
Joel Haggard, senior vice president for Asia-Pacific at U.S. Meat Export Federation, discusses how the trade war and rising prices are affecting Chinese demand for pork. China, the world's biggest pork producer, saw domestic output of the meat plunge the most since at least 2009 as outbreaks of African swine fever killed hogs and hurt restocking by farms. Haggard speaks with David Ingles, Rishaad Salamat and Yvonne Man on "Bloomberg Markets: Asia."
- Skift
IHG Expects to Prosper Even if the Global Economy Tanks
The prospect of some form of global slowdown over the next year or so looks increasingly likely, especially with countries squabbling over trade but InterContinental Hotels Group believes it is in a position to be able to weather any storm that might blow its way. “Our broad geographical spread combined with the resilience of our asset-light, cash generative model, our disciplined approach to cost management and the continued execution against our strategic initiatives, positions us well for the future,” said CEO Keith Barr in a statement accompanying the company's third-quarter trading update. Speaking to analysts on Friday after the announcement, IHG Chief Financial Officer Paul Edgecliffe-Johnson echoed Barr's upbeat tone, arguing that the company was well-positioned with the right portfolio spread.
- MarketWatch
Caterpillar stock downgraded at Morgan Stanley on 'increasing downside risks' heading into next year
Caterpillar Inc. (cat) was downgraded by Morgan Stanley analyst Courtney Yakavonis, who cited signs of "increasing downside risks" to the machinery and heavy equipment maker's construction and energy and transportation (E&T) businesses. Yakavonis cut the rating to equal weight, after being at overweight since March 2018, and lowered the stock price target to $145 from $150. "We are also concerned about pricing heading into 2020, and think that margins could still be under pressure next year even if input costs fall." The stock had gained 3.3% year to date, while the Dow Jones Industrial Average (djia) has rallied 15.7%.
- MarketWatch
Dow breaks slightly lower at Friday's open as J&J's stock weighs on blue chips
US stocks on Friday headed slightly lower but benchmarks were set to post a second straight week of gains on quarterly corporate results that have thus far come in better than expected. The Dow Jones Industrial Average (DJIA) off 45 points, or 0.2%, at 26,982 was weighed by a decline in shares of Johnson & Johnson (JNJ) after the blue-chip component and consumer-products and drug company said it was recalling "a single lot" of Johnson's Baby Powder after tests revealed traces of chrysotile asbestos. Meanwhile, other Dow components Coca-Cola shares climbed after the beverage and snacks company matched expectations and sales rise slightly more than anticipated and American Express Co.'s (AXP)shares rose slightly after it also produced better-than-expected results.
- Bloomberg
Ericsson’s CEO Sees Dramatic Acceleration of Demand for 5G Technology
Borje Ekholm, chief executive officer at Ericsson, discusses the 5G market, Huawei, earnings and guidance for 2020. He speaks on “Bloomberg Markets: European Open.
- Barrons.com
Here’s How Hedge-Fund Billionaire Ray Dalio Says the Bull Market Will End
Dalio, however, doesn't see a 2008-repeat with a debt crisis, even as the IMF warned this week of the rising levels of corporate debt building up and investors pushing into riskier assets in search of yield. With rates so low around the world, the return on equity has been higher than the cost of borrowing and companies have been able to borrow, paying barely any interest rate, and almost a promise to never have to pay the principal back because they could just role over the debt, Dalio said. When you look at that, you say that's wild,” he added.
- U.S.News & World Report
9 Dividend Stocks to Buy With Growth Potential
These stocks are a bit riskier, but they also may be interesting options for investors who don't want to simply "set it and forget it" in stocks that may offer a few percentage points in dividends but little in the way of revenue growth or share appreciation. Here are nine examples of growth stocks offering dividends that may be worth a look. NextEra Energy Partners is an independent firm that owns and operates clean energy projects in the United States.
- Fox Business
Ford announces biggest electric vehicle charging network in North America
Ford has put together what it says is the biggest network for charging electric vehicles in North America. The automaker says more than 12,000 charging locations with more than 35,000 plugs will be available when their Mustang-inspired electric SUV becomes available next year. The charging stations will work for non-Ford vehicles, as well.
- American City Business Journals
Nordstrom senior vice president leaves for another retailer
Nordstrom Inc.'s senior vice president, chief accounting officer and treasurer is leaving the Seattle retailer's ranks, according to a Thursday filing with the Securities and Exchange Commission. Nordstrom and Hall did not reply to request for comment. Hall joined Nordstrom in August 2017 after leaving a career of nearly nine years with Nike, Inc., most recently as vice president and chief financial officer.
- USA TODAY
More store closings coming: An estimated 12,000 shops could close by the end of 2019
Ten months into 2019, there have already been 47% more store closings announced than in all of 2018, according to a new report from global marketing research firm Coresight Research. Sears and Kmart store closings: Bed Bath & Beyond closings: What you need to know about coupons, returns and gift cards Based on Coresight Research's figures, retailers' earnings reports, bankruptcy filings and other records, nearly 8,600 stores are slated to shutter this year and thousands of locations already gone. Bankrupt footwear company Payless ShoeSource, which closed its remaining U.S. stores in June, accounts for about 37% of the closings.
- Investor's Business Daily
This Robotic Surgery Giant Just Crushed Third-Quarter Earnings Forecasts
Intuitive Surgical stock popped Thursday after the company topped third-quarter expectations on bullish procedure growth for its robotic surgery system, da Vinci. Shares of Intuitive Surgical jumped 3.9%, near 550, in after-hours trading on the stock market today. During the third quarter ended Sept.
- MarketWatch
Atlassian stock declines after slight beat
Atlassian Corp. team) shares declined in the extended session Thursday even after the enterprise cloud-software company posted results and an outlook slightly above Wall Street estimates. Atlassian shares fell 3.3% after hours, following a 1.3% decline in the regular session to close at $122.64.
- Yahoo Finance
The best advice for investors who are scared of Elizabeth Warren
It's not reflected in the stock market yet, but make no mistake about it — Wall Street is growing worried about what a Senator Elizabeth Warren presidency would mean to stocks and the health of Corporate America. “We would advise investors to be cautious against two dimensions when thinking about elections and their portfolios today.
- Yahoo Money
Medicare 2020: 4 major changes you should know about
Pulling up last year's information: If you want to compare this year's drug list with last year's, you must switch between the old plan finder and this year's – a major inconvenience. That means if you want to make sure last year's drug list is covered under this year's plan, you must access the old plan finder first. Caregiver access: If you're a caregiver who needs access to your senior's saved medical information on the old system, you need to first fill out an authorization form.
- MarketWatch
Maker of Bud Light accuses MillerCoors of stealing its beer recipes
Anheuser-Busch InBev NV is suing MillerCoors over its confidential recipes for Bud Light and Michelob Ultra. In a heavily redacted court filing Thursday, Anheuser-Busch (BUD) claims MillerCoors illegally obtained the recipes through one of its employees, who used to work for Anheuser-Busch. Anheuser-Busch says MillerCoors wanted the recipes because it was planning to retaliate for Anheuser-Bush's Super Bowl ads, which chided MillerCoors for brewing beer using corn syrup.
- Barrons.com
Beyond Meat Stock Dropped Because Serious Competition Is Closing In — Fast
(BYND) shares are falling because of what happened to a competitor. Recently, Beyond Meat and privately held Impossible Foods have had a string of product placement successes, including Subway, (DNKN) (DNKN) and (QSR)'s (QSR) Burger King. Thursday's news, however, could mean the alternative-meat industry is entering a new phase where bullish Beyond Meat investors have to digest wins from new competitors.
- Investor's Business Daily
Kansas City Southern Earnings Growth Is Best In Years After Union Pacific Misses, CSX Tops
Kansas City Southern topped Q3 estimates Friday after Union Pacific fell short of forecasts Thursday and CSX beat earnings views and matched revenue forecasts Wednesday. CSX stock and UNP stock are working on buy points, while KSU stock is extended. Kansas City Southern Earnings Estimates: Kansas City Southern was expected to post a 13% EPS increase to $1.77 as revenue grows 4% to $730 million.
