- S&P 5003,006.72+0.69%
- Dow 3026,827.64+0.21%
- Nasdaq8,162.99+0.91%
- Russell 20001,550.14+0.95%
- Crude Oil53.49+0.34%
- Gold1,485.80-0.15%
- Silver17.55-0.30%
- EUR/USD1.1156+0.0335%
- 10-Yr Bond1.7920+2.58%
- Vix14.00-1.75%
- GBP/USD1.2970+0.0298%
- USD/JPY108.6860+0.1096%
- BTC-USD8,220.90-0.21%
- FTSE 1007,163.64+0.18%
- Nikkei 22522,548.90+0.25%
- Oilprice.com
Oilfield Services Face Crisis As Shale Slowdown Worsens
The first and third-largest oilfield service companies in the world saw their earnings hit in the third quarter due to the slowdown in U.S. shale drilling. Schlumberger took a $12.7 billion impairment charge related to its North American business, a rather dramatic write-down. Halliburton also saw its earnings hit by the slowdown in shale drilling and the oilfield services giant shifted its focus to international markets as the signs of a shale rebound do not appear to be imminent.
- TipRanks
3 ‘Strong Buy’ Energy Stocks with Over 9% Dividend Yield
The low prices have pushed down stock prices in the energy sector, which has paradoxically opened an opportunity for income investors. The energy sector's production companies benefit from dealing in commodities – oil and gas – that are always in demand. Low share prices are attractive to investors, and the companies have been following two strategies to boost their shares.
- MarketWatch
This couple fought $25,000 in fraudulent credit-card charges after falling prey to identity theft — then things got worse
Amy Wang and her husband spent hundreds of hours trying to straighten out their financial futures after falling prey to identity theft. Amy, a 50-year-old occupational therapist in Miami, says she and her husband, Michael Wang, started receiving credit-card denials and store credit cards in the mail in December of 2015. The shoppers had expensive taste, Amy said, opting for luxuries like diamond earrings, Gucci and Armani.
- Bloomberg
Bernstein’s Lim Sees Investors Staying on the Sidelines in China
Joanne Lim, algorithmic and portfolio trader at Bernstein, discusses China's Loan Prime Rate, markets and her outlook for the property sector. She speaks on “Bloomberg Markets: China Open.
- American City Business Journals
Southwest buying another airline? Carrier downgraded on M&A speculation
Southwest Airlines was downgraded from "buy" to "hold" by an investment bank based on speculation that it might look to solve its 737 Max issue through an acquisition. Southwest Airlines Co. (NYSE: LUV) has hundreds of 737 Max planes on order through Boeing Co. (NYSE: BA). "An acquisition by Southwest motivated by a desire to diversify away from the Max creates significant risks in the near term for LUV," Stifel analysts said in a Monday research note speculating whether low-cost carriers Alaska Air Group Inc. (NYSE: ALK) and JetBlue Airways (Nasdaq: JBLU) could be M&A targets.
- MarketWatch
Economists and policy makers are ‘sleepwalking’ toward next financial crisis, Mervyn King says
A sense of gloom about the global economy permeated the International Monetary Fund and World Bank annual meetings over the past week in Washington. The international organizations officially slashed their global growth forecasts and warned of dire consequences if the standoff between the U.S. and China over the future of the global trading system is not ended. If there was a prize for the gloomiest speaker at the gathering, it might have gone to former Bank of England governor Mervyn King, who used his experience as a policy maker to try to shake current officials into action.
- Financial Times
WeWork founder stripped of voting power in SoftBank takeover
Adam Neumann, the flamboyant co-founder of WeWork, will be stripped of his outsize voting power and chairmanship of the lossmaking property company, under a $9.5bn rescue proposal from its largest investor, SoftBank, set to be considered by the board on Tuesday. Mr Neumann would be left with less than 10 per cent of the shares and voting rights at the company, three people briefed on the plan told the Financial Times. Marcelo Claure, SoftBank's chief operating officer, would become chairman.
- Investopedia
Your 401(k) Is More Important Than You Think
Not only are there strict rules about withdrawing 401(k) money prematurely, but your 401(k) could be the most valuable piece of your retirement income pie someday; most people do not have any other employer retirement plan. For all of these reasons your 401(k) is more important than you might think. Saving for Retirement With a 401(k) In the past, many private-sector employees could depend on a traditional, defined-benefit pension from their employer.
- MarketWatch
The No. 1 highest paid, most in-demand job in every U.S. state
This is the slowest pace of job growth in four months, as businesses grew more cautious about hiring, but employment gains for August and July revised up by a combined 45,000. The site analyzed government data to project the careers most likely to be lucrative and in demand. Software developers typically require a bachelor's degree and computer-coding skills such as Java, JavaScript, SQL, C Sharp, Cascading Style Sheets and NET Framework.
- Investor's Business Daily
Apple Stock Spikes To Record High On Bullish Pre-Earnings Report
Apple stock surged to an all-time high on Monday after getting a positive analyst report ahead of its September-quarter earnings release. Apple plans to report its fiscal fourth-quarter results on Oct. 30. On the stock market today, Apple stock rose 1.7% to 240.51.
- American City Business Journals
'A good move on Oracle’s part': Analysts say this high-profile competitor would be a smart pick for co-CEO role
Days after Oracle Corp. co-CEO Mark Hurd's death while on medical leave, the Redwood City-based company hasn't yet named a co-CEO for Safra Catz — but two analysts told the Silicon Valley Business Journal they could see a particular high-profile competitor filling the role. Constellation Research founder Ray Wang suggested Bill McDermott, who stepped down as CEO of Oracle rival SAP this month after 17 years with the company. French Caldwell, CFO of the Analyst Syndicate, said McDermott would be “killer” as a co-CEO of Oracle.
- Bloomberg
Earnings Sentiment Has Been Positive Says Wells Fargo's Anna Han
Anna Han, Wells Fargo Securities Equity Strategist discusses earnings sentiment. She speaks with Scarlet Fu and Caroline Hyde on "Bloomberg Markets: The Close."
- Reuters
Infosys U.S. listed shares plunge after whistleblower complaints
U.S.-listed shares of Infosys Ltd fell nearly 16% in premarket trading on Monday after the Indian software services exporter said it had received whistleblower complaints alleging "unethical practices" by the company's executives. The company issued a statement after The Economic Times reported https://economictimes.indiatimes.com/tech/ites/whistleblower-complaint-placed-before-audit-committee-infosys/articleshow/71686001.cms that an anonymous group sent letters to Infosys' board and the U.S. Securities and Exchange Commission alleging that the company was taking "unethical" steps to boost short-term revenue and profit. The complaints follow a strong quarterly show by Infosys, which raised the lower end of its annual revenue forecast on upbeat demand for its digital services from Western clients.
- Investor's Business Daily
Drug Companies Strike $48 Billion Deal In Opioid Crisis With Four States
Five drug companies announced a $48 billion deal Monday that aims to settle claims related to the opioid crisis throughout the U.S. The three biggest drug distributors — AmerisourceBergen, McKesson and Cardinal Health — plus pharmaceutical giants Johnson & Johnson and Teva Pharmaceutical will pay $22 billion in cash and provide $26 billion in products and services to those affected by the opioid crisis. Four states negotiated and agreed to the deal: North Carolina, Pennsylvania, Tennessee and Texas. The North Carolina Department of Justice said in a press release that 46 other states are eligible to latch onto the same deal.
- Benzinga
REIT Spotlight: Crown Castle, Simon Property
One real estate investment trust with a bullish growth outlook in cell tower infrastructure may have been marred by disclosure of an SEC probe, and the other is getting attention with a big drop in price. Crown Castle IN/SH (NYSE: CCI) was boosted by its own results and a strong outlook for the cell tower landscape, offset by an SEC subpoena. The REIT, which provides cell towers, rooftop towers and other wireless infrastructure, reported strong results Oct. 16, with net third-quarter income of $272 million, up from $164 million in the quarter a year ago.
- Investopedia
7 Counterintuitive Retirement Strategies That Work
There are many ways to implement a successful retirement strategy. Although there seems to be no contest between these two courses of action, far too many people choose the latter option when planning for retirement. Let's look at several major misconceptions that people commonly harbor when it comes to retirement planning—along with the correct ways of thinking and approaches.
- Yahoo Finance
McDonald's, Chipotle, Snap earnings — What to know in markets Tuesday
Procter & Gamble is expected report continued strong sales. Investors will be particularly focused on P&G's organic sales growth, which is estimated to have risen 4.79% with beauty organic sales anticipated to have jumped 6.17%. Health care organic sales is expected to have grown 5.17%, while analysts estimate 4.67% growth in fabric and home care organic sales, and baby, feminine and family care rose 2%, according to estimates.
- Reuters
Howard Hughes announces management reshuffle, to sell assets worth $2 billion
Howard Hughes Corp , which counts activist investor William Ackman as chairman, said on Monday it would sell about $2 billion of non-core assets following a strategic review and announced a management reshuffle. Shares of the company were down 18.4% at $104.70 in extended trading. "There was a belief that the entire company would be sold or the company would go private," said Vahid Khorsand, an analyst with BWS Financial.
- Bloomberg
Baker Brothers Makes $730 Million in One Day on Its Biotech Bet
The investment firm founded by Felix and Julian Baker made a big bet in the company, their biggest in fact, with a 29% stake, as of June 30, according to data compiled by Bloomberg. Baker Bros. has been invested in the company for over 15 years, and Felix Baker is a lead director for the biotech. Today Seattle Genetics makes up over 28% of Baker Bros.'s $15.5 billion in assets.
- MoneyShow
Dow Theory's Top REITs
In the June quarter, rental rates rose 4%, contributing to 3.9% growth in samestore revenue. The company operates a fairly diversified portfolio, with no more than 16% of its locations in any single metropolitan area. The company's robust growth record (10-year annualized increases of 16% for revenue and 18% for per share profits) has historically earned it a premium valuation relative to its peers.
- Oilprice.com
Putin’s Plan To Take Control Of The Middle East
Having secured pivotal economic and political influence in recent months with Iraq (both north and south), Syria, Iran (and by dint of this, the rest of the countries constituting the Shia arc of power, including Lebanon, Jordan, and Yemen), Russia appears to be in the process of 'completing the set'. Last week saw a range of done deals and hints at more secretive deals that point to Russia taking full advantage of the power vacuum created in the Middle East by U.S. President Donald Trump's renewed isolationist policy focus. “The withdrawal of U.S. troops from Syria – even at the cost of breaking the promise made to the Kurds that they would be given independence in exchange for defeating Islamic State on the ground – was a clear signal to Russia that it can do what it wants in the region,” a London-based risk analyst told OilPrice.com last week.
- Investopedia
What to Do When a Bear Market Whacks Your 401(k)
Plan Your Asset Allocation After you've determined how much money you will need, the next step is to figure out how your investments can help you get there. In this regard, asset allocation is the key. Your money should be divided among a variety of investments that are more aggressive or more conservative depending on your personal risk tolerance.
- Bloomberg
These Are the World’s Best (and Worst) Pension Systems
The Netherlands and Denmark have the best pensions systems in the world, according to a global study that shines a light on how nations are preparing aging populations for retirement. The countries took the top two slots in the Melbourne Mercer Global Pensions Index published Monday, both earning an A grade for the level of financial security provided in retirement. Australia came in third, with a B+ grade, while the top 10 was rounded out with Finland, Sweden, Norway, Singapore, New Zealand, Canada and Chile all on B. The survey of 37 nations, which covers almost two-thirds of the world's population, uses 40 metrics to assess whether a system leads to improved financial outcomes for retiree...
- Investopedia
5 Stocks Set to Lead Longterm as Fed Rate Cuts Deepen
As the Fed weighs even steeper rate cuts to bolster a faltering economy, a handful of stocks are poised to outperform, according to several market watchers. As lower rates reduce bond yields, these stocks that are likely to grow as the economy slows also boast healthy dividends and dividend growth history. The list includes Illinois Tool Works (ITW), Nucor (NUE), Pentair (PNR), W.W. Grainger (GWW) and Johnson & Johnson (JNJ), as outlined in a recent Barron's report.
- Investopedia
Amazon Earnings: What to Look For From AMZN
While web commerce is the biggest part of Amazon's business, investors should focus on revenue from the company's fast-growing cloud computing business, Amazon Web Services (AWS). Amazon's cloud business, which has the No. 1 market share in the industry, is expected to post robust growth in Q3 even as analysts estimate overall corporate profit will fall by about 20%. Amazon's stock has fallen slightly in the past year as the S&P 500 has grown by 7.7%.
