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.

Halliburton meets earnings expectations, misses on revenue after Schlumberger's $11B net loss

Houston-based Halliburton Co. (NYSE: HAL) saw revenue decline both sequentially and year over year in the third quarter of 2019, while net income was down from 2018 but up from the prior quarter. The oil field services company's $5.55 billion in revenue was down 10 percent from Q3 2018 and down 6.4 percent from Q2 2019. International revenue was flat compared to Q2 2019 but up 10 percent year to date, while North American revenue dropped 11 percent sequentially, according to Halliburton's Oct. 21 press release.

India's 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 group alleged that Chief Executive Officer Salil Parekh was bypassing reviews and approvals for large deals, the ET report said.

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.

Ford Botches Explorer Launch, Putting CEO Back on the Hot Seat

The company is shipping the new Explorer -- the all-time best-selling SUV nameplate in the U.S. -- to dealers now and performing additional quality inspections as needed, she said. Big Negative' Ford probably will report on Wednesday that third-quarter profit slipped to 26 cents a share, according to analysts' estimates compiled by Bloomberg, down from 29 cents a year ago. Automotive revenue is expected to dip to $34.3 billion, from $34.7 billion.

IBM Stock Remains in Recovery Mode Despite Revenue Miss

International Business Machines Corporation (IBM) reported quarterly earnings after the closing bell on Oct. 16 and beat earnings per share (EPS) estimates for the 20th consecutive quarter. At issue is that the company's turnaround story lacks revenue growth. IBM stock closed last week at $134.09, up 18% year to date and in bull market territory at 26.6% above its Dec. 26 low of $105.94.

How to give your home to your adult child tax-free

Before the days of income and estate taxes, adult children often just moved into the family home after their parents died. If you plan to live in your home until you die, and your estate is below the unified federal estate gift and estate tax exemption amount ($11.4 million for 2019), this is your best strategy. When you die, your home's tax basis will be stepped up to fair market value as of the date of death.

HSBC’s Stand-In Weathers Storms in Bid for Top Job

HSBC started 2019 with a chief executive poised for growth and focused on making its 238,000 employees the “best version of themselves. It is ending the year with a new boss cutting thousands of jobs, culling clients and putting businesses on the block.

Which are the least tax-friendly states in America? California doesn’t crack the top 10, but Illinois sure does

Illinois took the No. 1 spot on the list, thanks in large part to its high property taxes. The Land of Lincoln was followed by Connecticut and New York, both of which have pretty high-income taxes. Tennessee has an income tax, but it only applies to interest and dividends and not to salaries and other wages.

The 401(k) retirement is coming — are you prepared?

Most retirees rely on retirement income they didn't personally put away for their futures, although they did work for it. Young adults won't have that luxury, and they know it, a recent survey found. All but 5% of current retirees consider Social Security and a pension plan as their primary sources of retirement income, according to a Wells Fargo (WFC) survey released Friday.

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.

What the IRS doesn’t tell you about self-employment taxes

Do you owe the dreaded 15.3% self-employment (SE) tax on random non-employee income that you only collect occasionally or in a one-off circumstance? This column explains why you probably don't owe SE tax, after first covering some necessary background information. The SE tax is the way the Feds collect Social Security and Medicare taxes on non-salary income from work-related activities.

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.

Probability of a ‘No-Deal’ Brexit Very Low, Says Eastspring’s Graham

Colin Graham, chief investment officer of multi-asset solutions at Eastspring Investments, discusses the Brexit vote, its impact on the pound and his outlook for markets. He speaks on “Bloomberg Markets: Asia.

Boeing may face billions more in losses as MAX crisis deepens: analysts

Boeing Co may have to book billions of dollars in additional charges, two brokerages said on Monday, following latest developments around the planemaker's grounded 737 MAX jet that calls into question the timing of the aircraft's return to service. Credit Suisse and UBS downgraded the stock after reports on Friday showed internal messages between two Boeing employees stating that the plane's anti-stall system behaved erratically during testing before the aircraft entered service. The new revelations pose fresh challenges for Boeing, which is reeling under pressure after two fatal crashes forced the company to ground the planes and book billions of dollars in losses.

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  Boeing wants it to fly, but travelers fear the 737 MAX

  AFP
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  Messages from former Boeing test pilot reveal 737 Max concerns

  KABC – Los Angeles

This woman went from deep debt to retirement riches in a few years by teaching herself financial literacy

Yanely Espinal knows what the power of a financial education — she came from a low-income home with two parents and nine children, and ended up with credit card and student loan debt even after receiving a full scholarship to college. The Brooklyn native said she often saw a difference between herself and some of the wealthier students around her. She attended high school near Lincoln Center in Manhattan, where many students wore brand-name clothes and returned from holiday break with the latest gadgets.

UPDATE 4-Drug companies reach settlement, averting first federal opioid trial

Four large drug companies reached a last-minute $260 million legal settlement over their role in the U.S. opioid addiction epidemic, averting the first federal trial that was scheduled to start Monday morning in Cleveland. The settlement covers drug distributors AmerisourceBergen Corp, Cardinal Health Inc and McKesson Corp and Israel-based drugmaker Teva Pharmaceutical Industries Ltd, and ends lawsuits by two Ohio counties. Hunter Shklonik, an attorney for the counties, said Teva is paying $20 million in cash and will contribute $25 million worth of Suboxone, an opioid addiction treatment.

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  Dow Jones Today: Futures Get Lift From Brexit, Chips; Reported Opioids Case Settlement

  Investor's Business Daily
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  Drug Wholesalers, Teva Settle With Ohio Counties Over Opioids

  Bloomberg

Bank of America declares ‘the end of the 60-40’ standard portfolio

Investors have long been told that the ideal portfolio should carry 60% of its holdings in equities and 40% in bonds, a mix that provides greater exposure to historically superior stock returns, while also granting the diversification benefits and lower risk of fixed-income investments. But in a research note published by Bank of America Securities titled “The End of 60/40,” portfolio strategists Derek Harris and Jared Woodard argue that “there are good reasons to reconsider the role of bonds in your portfolio,” and to allocate a greater share toward equities.

Why the crash in software stocks isn't over

Sing it out loud if you are an investor in thought-to-be hot software stocks: it has only just begun. With Wall Street more closely scrutinizing valuations on tech companies with no — or little profits —after several high profile IPO disasters (see WeWork), the software space has been hammered this month. The Invesco Dynamic Software ETF —which reflects the performance of 30 U.S. software stocks such as Zoom Video Communications —has dropped 3% in October.

Tesla Earnings: What to Look for From TSLA

Electric vehicle maker Tesla Inc. (TSLA) is scheduled to report 3Q 2019 earnings after the market close on Oct. 23. A key metric that investors are likely to focus on is vehicles delivered, which a preliminary report from the company indicates is 16% greater than in the same period of 2018. For the year to date through the close on Oct. 17, 2019, Tesla's stock price has fallen by 21.2%.

3 Monster Growth Stocks That Will Keep Soaring in 2020

Lalwani rates LHX stock a "buy" along with $259 price target. If everything goes as planned, LHX will soar about 30% over the next 12 months. To watch Lalwani's track record, click here) “Given above-average potential around sales growth, margin expansion, FCF generation, and capital returns, alongside a leadership team that has previously executed, we see no reason why the legacy HRS premium valuation should not be retained has previously executed, we see no reason why the legacy HRS premium valuation should not be retained,” Lalwani added.