39.58 -0.03 (-0.08%)
After hours: 7:04PM EDT
|Bid||39.61 x 1100|
|Ask||39.67 x 1300|
|Day's Range||39.41 - 40.15|
|52 Week Range||26.26 - 45.86|
|Beta (3Y Monthly)||0.23|
|PE Ratio (TTM)||13.09|
|Earnings Date||Oct 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||42.02|
(Bloomberg) -- Turkey agreed to a temporary pause of military operations in Syria that could be extended if Kurdish fighters formerly allied with America leave the border region, U.S. Vice President Mike Pence announced after a hastily arranged visit to Ankara.The “immediate” cease-fire will last 120 hours, Pence said during a press conference Thursday in the Turkish capital following about five hours of talks with Turkish President Recep Tayyip Erdogan. Pence said the Syria-based YPG, which consists mostly of ethnic Kurd fighters previously aligned with the U.S., has provided assurances that they’ll make a “safe and orderly withdrawal.”“We think the agreement today first ends the violence, which is what President Trump sent us here to do,” Pence said. He declined to describe any concessions made by Turkey.Turkish Foreign Minister Mevlut Cavusoglu said the one-page accord wasn’t a cease-fire, but a pause, and boasted that Turkey had gotten what it wanted from the U.S. Top of their demands was that Turkish armed forces will be oversee a 20-mile “safe zone” inside Syria.But a senior administration official said that despite the dispute about the wording, the agreement was a cease-fire. The official, who was granted anonymity to discuss the matter, added that the administration had been in contact with the YPG throughout the negotiations and that the group had been told to halt firing its artillery into Turkey. Turkish forces quickly invaded the northeast of the country and attacked Kurdish fighters previously aligned with the U.S. after President Donald Trump told Erdogan in an Oct. 6 phone call that he wouldn’t stand in the way. While the U.S. initially withdrew a handful of troops from two border posts, Defense Secretary Mark Esper later said all 1,000 American forces would pull out of the region.The accord reached Thursday bears some resemblance to what Erdogan proposed a day earlier to end the impasse. In a speech to ruling party lawmakers in Ankara, Erdogan said Turkey would end its operation only after Kurdish militants withdraw from the secure zone Ankara wants to create in Syria. Syria and Russia have long opposed any permanent role for Turkey in northern Syria.As part of the agreement, Pence said no additional U.S. sanctions would be imposed on Turkey. He added that the U.S. will withdraw existing sanctions if a permanent cease-fire takes effect after the 120-hour period. But Pence said a failure to reach an accord on Thursday would have resulted in new penalties.The Turkish lira jumped to a one-month high on the news.It wasn’t immediately clear whether the cease-fire is absolute. Under the terms of the agreement, Turkey and the U.S. agreed that “counter-terrorism operations must target only terrorists and their hideouts, shelters, emplacements, weapons, vehicles and equipment.” Turkey considers the Kurdish-led forces in Syria to be terrorists.Pence emphasized that Turkey agreed not to engage militarily in Kobani, a strategic border town. Syrian forces on Wednesday entered Kobani as part of a deal with Kurdish fighters to fend off the Turkish offensive. But Cavusoglu refrained from calling the arrangement for Kobani an agreement.The one-day visit by Pence and Secretary of State Michael Pompeo was cobbled together after rising bipartisan criticism of Trump’s Oct. 6 decision to start pulling back U.S. forces in northern Syria, opening the way for Erdogan’s forces to attack Kurdish fighters who had helped the U.S. defeat Islamic State’s “caliphate.”Trump, minutes before the press conference, said the deal would mean “millions of lives will be saved.” Trump has continued to defend his decision and rejected widespread claims that his move gave Erdogan a green light to send his forces over the border. He called it “an amazing outcome” upon landing in Texas on Thursday, adding “we’ve gotten everything we could have ever dreamed of.”The president said that Erdogan is still likely to visit the White House next month as scheduled.The announcement in Ankara came just as Republican Senator Lindsey Graham proposed legislation prohibiting anyone in the U.S. from buying Turkey’s sovereign debt, as lawmakers aim to escalate pressure on Erdogan’s government. Graham, who has repeatedly blasted Trump’s troop withdrawal, called the agreement “encouraging” but added that he didn’t know the details.“We’re ready to come and hit Turkey hard if they don’t get out of Syria and reset the table,” Graham told reporters in Washington. “I appreciate what Pompeo and Pence have done. I don’t know the details. I don’t trust Erdogan.”But Republican Senator Marco Rubio of Florida, another foreign policy hawk, said “From what I understand it’s not a cease-fire.” He said the deal was a message to the Kurds that “You have one hundred and x number of hours to get out of here before we kill you.”Erdogan likely emerges with a political boost from the crisis and deal with the U.S. Turks are overwhelmingly supportive of a heavy-handed approach against Kurdish separatists that Turkey has been fighting against since 1984. All main opposition parties except the pro-Kurdish HDP expressed support for Turkish troops in Syria and Erdogan in his dealings with the international community.(Updates with details about the negotiations, in paragraph)\--With assistance from Laura Litvan.To contact the reporters on this story: Jordan Fabian in Ankara at email@example.com;Selcan Hacaoglu in Ankara at firstname.lastname@example.orgTo contact the editors responsible for this story: Bill Faries at email@example.com, ;Alex Wayne at firstname.lastname@example.org, ;Onur Ant at email@example.com, Joshua GalluFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Republican and Democratic lawmakers vowed to move ahead with sanctions on Turkey despite the announcement by Vice President Mike Pence that Turkish President Recep Tayyip Erdogan agreed to temporarily halt hostilities in northern Syria.South Carolina Republican Lindsey Graham and Maryland Democrat Chris Van Hollen said they welcomed the agreement but will continue urging their colleagues to sign on to the sanctions bill they introduced Thursday. That measure would sanction Turkish leaders, financial institutions and its energy sector, as well as prohibit any U.S. firms or individual from buying the country’s sovereign debt.Senators of both parties said the deal Pence outlined doesn’t do enough to protect the Kurds who fought with the U.S. against the Islamic State and have been targeted by Turkish forces seeking to occupy Syrian territory south of Turkey’s border.Graham said the deal was “encouraging,” but he doesn’t trust Erdogan.“We’re ready to come and hit Turkey hard if they don’t get out of Syria and reset the table,” Graham said. Referring to his sanctions proposal, he said he will “continue to get co-sponsors, but this sounds positive.”Senator Marco Rubio, a Republican from Florida, said he didn’t see Pence’s announcement as a win for the Kurds.“From what I understand it’s not a cease-fire,” Rubio said. “You have one hundred and x number of hours to get out of here before we kill you.”The Graham-Van Hollen measure is one of four bills that have been introduced in recent days to sanction Turkey for invading northern Syria. The Trump administration had imposed some sanctions on Turkey earlier this week, but Pence said those will be re-evaluated as part of Thursday’s deal with Erdogan.Speaking with reporters Thursday, Van Hollen said it is “within Turkey’s power” to avoid these sanctions by drawing back from Syrian territory that had been controlled by the Kurds.“We do not want these sanctions to have to go into effect,” Van Hollen said. However, he said that Congress will insist on punishing Turkey if it doesn’t change course.House Foreign Affairs Chairman Eliot Engel, who sponsored the bipartisan House sanctions bill, said his committee will continue with its work on penalties for Turkey.”I am glad there is a cease fire, it’s a good sign, but let’s see if it lasts,” Engel said. ”Last time I had confidence in Turkey was a long time ago.”House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer dismissed the deal with Turkey that Pence announced on Thursday. They said in a statement that Trump is “flailing” and said Erdogan has “given up nothing.”“Next week, the House will pass a strong, bipartisan sanctions package to work to reverse the humanitarian disaster that President Trump unleashed in Syria,” they said. “Our service members, our allies and our partners all suffering from the Syrian conflict deserve smart, strong and sane leadership from Washington.”Veto-Proof MajorityThe sanctions in the Graham-Van Hollen bill would be effective immediately upon enactment unless the Trump administration comes to Congress every 90 days to certify that Turkey is not operating unilaterally in Syria and has withdrawn its armed forces, including Turkish supported rebels, from areas it captured beginning on Oct. 9.The version of the bill introduced Thursday also includes sanctions on Halkbank and any other financial institution that “knowingly facilitated transactions” for Turkey’s military. The Trump administration has come under scrutiny for not fining Halkbank for its alleged involvement in a massive scheme to evade sanctions on Iran.The same version of the bill would have to pass the House and the Senate before going to President Donald Trump to be signed into law. There is strong bipartisan opposition to Turkey’s incursion into northern Syria, but Senate leaders haven’t committed to bringing a sanctions bill to a vote.Graham said he thinks there is enough support for the legislation to win a veto-proof majority in the Senate.The House Foreign Affairs Committee bill doesn’t include the provision to sanction sovereign debt or that country’s energy sector. That proposal does include the Halkbank sanctions, as well as penalties on senior Turkish officials and the military.Both the House and Senate bills include penalties already mandated by a 2017 law that requires sanctions on Turkey for its purchase of the Russian-made S-400 missile.Additional ProposalsSeparately on Thursday, Senate Foreign Relations Chairman Jim Risch and ranking Democrat Bob Menendez introduced another sanctions proposal targeting Turkish leaders and people providing arms to Turkish forces in Syria. That bill includes the Halkbank sanction and would also direct Trump to oppose loans to Turkey from international finance institutions and review Turkey’s participation in NATO.The Graham-Van Hollen bill is the only one that would restrict purchases of Turkey’s sovereign debt, by directing that “the president shall prescribe regulations prohibiting any United States person from purchasing sovereign debt of the Government of Turkey.”The U.S. Treasury Department has been reluctant to sanction the sovereign debt of other countries, an option that was floated in 2014 to punish Russia, citing concerns that the impact would spill over into the global financial markets. Congress has proposed, but not passed, measures to sanction Russian sovereign debt.Timothy Ash, a strategist at BlueBay Asset Management in London, said sanctioning sovereign debt would be “lights out for Turkey.” He said the penalties against Halkbank and other Turkish banks are “also pretty severe.”Ash said the bill could be “softened” as it goes through Congress, with some of the more severe provisions removed, but “the warning signal to Turkey is pretty stark.”Bipartisan RebukeIn a show of bipartisan opposition to Trump’s decision to pull troops out of northern Syria, the House Wednesday passed a mostly symbolic resolution by a 354-60 vote to disapprove of the U.S. withdrawal and call on Erdogan to “immediately cease unilateral military action” in the region.Senate Majority Leader Mitch McConnell said Thursday he was encouraged by the House’s bipartisan vote and wants the Senate to pass an even stronger measure.McConnell said he wants a measure tougher than the version passed in the House, which he said doesn’t address the plight of the Sunni and Christian minority in the country and doesn’t take a stance on whether the U.S. should maintain a military presence in Syria.“My first preference is for something stronger than the House resolution,” he said. McConnell has not yet commented on the cease-fire Pence announced or the timing for a vote on sanctions legislation.\--With assistance from Laura Litvan.To contact the reporters on this story: Daniel Flatley in Washington at firstname.lastname@example.org;Anna Edgerton in Washington at email@example.comTo contact the editors responsible for this story: Kevin Whitelaw at firstname.lastname@example.org, Joe SobczykFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.Prime Minister Boris Johnson’s Brexit deal with the European Union was barely agreed before it ran into trouble at home, as his Irish allies in parliament said they could not support it.Johnson and European Commission President Jean-Claude Juncker announced simultaneously on Twitter Thursday morning they’d reached a deal that could pave the way for Britain to finally break 46 years of ties with the world’s largest trading bloc. EU leaders are now meeting in Brussels.But while that sorted one key piece of the Brexit puzzle, Johnson still needs to get the agreement through the House of Commons, with a vote planned for Saturday as the prime minister seeks to deliver Brexit on Oct. 31.The parliamentary arithmetic is very tight, the more so because three officials from Northern Ireland’s Democratic Unionist Party said Thursday their party won’t support the deal, citing concern about customs checks in the Irish Sea, among other things.Johnson’s been defeated in a string of crucial votes since taking office in July and lost his majority in the chamber. Nevertheless, the prime minister struck an upbeat tone as he arrived in Brussels.Five Takeaways From the U.K., EU Brexit Agreement: TOPLiveHe said the deal is “a reasonable, fair outcome that reflects the large amount of work undertaken by both sides.” The U.K. would leave the EU “whole and entire” on Oct. 31, Johnson said, in a nod to the DUP’s concerns. EU leaders endorsed the agreement and called on the European Parliament to ratify it in time to meet the deadline.Much of the wrangling over Brexit has been how to avoid a hard border on Ireland as a result of the split from the EU.The DUP is opposed to Northern Ireland being treated any differently to the rest of the U.K. Under Johnson’s deal, the region would still be subject to some of the EU’s single market rules to mitigate the need for customs checks on the border with Ireland. That would, in effect, put a customs border in the Irish Sea.As attention swung toward the vote at Westminster, Juncker offered support to Johnson as he tries to bring critics of his deal into line."If we have a deal, we have a deal and there is no need for prolongation -- that’s not only the British view, that’s my view too," Juncker said. "He and myself we don’t think that it’s possible to give another prolongation."By ruling out another extension, Juncker is framing the vote in the House of Commons as a straight choice between Johnson’s deal or no deal, just as the British leader has tried to do himself. That increases the pressure on undecided lawmakers in Westminster to back the government, but it also raises the cost of failure dramatically.Still, the decision over whether or not to grant another extension isn’t actually down to Juncker. That’s something that has to be decided, unanimously, by the 27 EU leaders.U.K. Plc Urges Lawmakers to Pass Brexit Deal and End UncertaintyWithout his Northern Irish allies, Johnson needs to pick up roughly 61 votes from a pool of about 75 deputies who might be persuaded to join him -- that will involve persuading hold-outs in his own party to side with him rather than the DUP. It’s the final, treacherous hurdle for the U.K. leader to clear before he can complete his ambition of leading Britain out of the EU.The pound rallied on news of the deal, touching $1.2990 before dropping again as the scale of the remaining challenge became clear. It traded 0.2% lower at $1.2812 at 2:37 p.m. in London.Stocks Jump With Pound on Brexit Deal; Bonds Slump: Markets WrapIf Johnson can pull off his deal, it will draw a line under three years of political turmoil since the U.K. voted to leave the world’s biggest trading bloc. If he fails, Britain the prospect of a no-deal Brexit will also come into the equation again.Here’s a run down of the main pledges:establish a wide-ranging free trade agreementreach a deal on services that goes beyond WTO levelsagree equivalence for financial services firmsallow free movement of capitalestablish visa-free travel for short-term visitscommit to a level playing field, with common high standards in state aid, competition, welfare, tax, and environmental mattersAt a Glance: More Key Points of the Brexit Political DeclarationEU chief Brexit negotiator Michel Barnier told reporters in Brussels that he believes the deal can be ratified by the end of October. He called it a “fair and reasonable basis for an orderly withdrawal” by the U.K.In a nod to the painful to-and-fro of the past three years, he also compared getting the deal done to climbing a mountain.Labour leader Jeremy Corbyn called for a second referendum, saying in Brussels that Johnson’s deal -- which he described as a “sell-out” -- was worse than that put forward by predecessor Theresa May. Scotland’s first minister, Nicola Sturgeon, said her Scottish Nationalist Party will vote against the deal as well, complaining that it creates too great a separation from the EU.At a Glance: What Johnson’s Brexit Will Do for the Irish BorderOne important question as the summit talks begin is whether EU leaders will be prepared to ratify Juncker’s gambit. Ireland’s Leo Varadkar and Denmark’s Mette Frederiksen both warned against interfering in the U.K.’s domestic affairs."The best thing that we can do in Ireland is not to intervene or interfere in U.K. internal politics," Varadkar said. "It’s up to the members of the House of Commons to decide whether they want a deal. As of now we have no requests for an extension. If and when a request is received we can consider it but not before then."(Updates with EU leaders endorsing the deal.)\--With assistance from Richard Bravo, Tim Ross, Morten Buttler, Nikos Chrysoloras, Helene Fouquet, Alexander Weber, Adam Blenford, Dara Doyle, Jonathan Stearns, John Follain, Katharina Rosskopf, Tiago Ramos Alfaro, Viktoria Dendrinou, Stephanie Bodoni and Edward Evans.To contact the reporters on this story: Ian Wishart in Brussels at email@example.com;Kitty Donaldson in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, Rosalind MathiesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
One longtime CME trader’s says this kind of stock-market manipulation hasn’t been seen since al Qaeda cashed in before initiating the Sept. 11 attacks.
Twitter (TWTR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Mike Pence has arrived in Ankara on a high-stakes mission to persuade President Recep Tayyip Erdogan to halt Turkey’s military incursion into Syria and avoid becoming “the devil”, in the words of Donald Trump.
The team running Morgan Stanley Institutional Growth peers into the future. Why? To look for disruptive innovation companies they can invest in.
After testing hiding likes for users in Canada, Instagram is expanding the test to more countries after seeing "positive" results, says Instagram director Eva Chen.
Mick Mulvaney, the acting White House chief of staff, said the US withheld military aid to Ukraine this year in an effort to persuade Kiev to investigate what Donald Trump claims was corruption by the Democrats in the 2016 election. In a rare news conference, Mr Mulvaney said the US initially withheld the $391m in aid because of concerns about corruption in Ukraine.
In London, house prices are falling at their fastest rate in a decade, according to Halifax data. In Europe, there is a threat of recession, and in Hong Kong, owing to months of civil unrest, the world’s most valuable real estate market could be at risk.
Twitter (TWTR) stock has surged roughly 40% in 2019 to fall just behind Facebook's (FB) 45%. Despite the run of success, Twitter shares remain an enigma to many on Wall Street...
Twitter says world leaders aren’t entirely above its ban on users threatening violence or promoting terrorism on the site.
Presidential hopeful and former Texas congressman Beto O’Rourke, in a seemingly innocuous comment made during Tuesday night’s debate, said he had met a woman who was working four jobs to support her special needs child. For some reason, this riled up Bill O’Reilly, who was live-tweeting the show.
KEY WORDS ‘Mr. President, release your tax returns or shut up.’ — That’s the ultimatum Democratic presidential hopeful Joe Biden delivered via Twitter (TWTR)to Donald Trump on Wednesday. “You want to talk about corruption? I’ve released 21 years of my tax returns,” he said.
Amid a new stock market rally, investors should be identifying the top growth stocks with strong fundamentals. Use the SMR Rating to identify these well-run companies.
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The White House has stepped up its resistance to the impeachment inquiry into Donald Trump, as top officials including Mike Pence told the House committees leading the Ukraine probe that they would not provide information to investigators. The vice-president told the Democratic-controlled committees through a White House lawyer that the impeachment inquiry was not valid because the full House of Representatives had not voted to open an inquiry.
The US House of Representatives has overwhelmingly passed a resolution condemning Donald Trump’s decision to withdraw American troops from north-east Syria, even as the president argued that his actions had produced a “strategically brilliant” outcome. With Mr Trump facing an avalanche of criticism, the House on Wednesday voted 354-60 in favour of the measure, as 129 Republicans joined with all 225 Democrats in an unusually bipartisan demonstration of disapproval. The opposition to the withdrawal has sparked one of the biggest crises of the Trump presidency.
(Bloomberg) -- One of the sharper exchanges in Tuesday’s Democratic primary debate centered on the crucial public policy question of what to do about President Donald Trump’s Twitter account.During a broader back-and-forth over the power of large technology companies, Senator Kamala Harris repeatedly demanded that Senator Elizabeth Warren support her effort to pressure Twitter to kick President Donald Trump off the platform. In response, Warren steered the conversation to her commitment not to accept big checks from tech executives. Entrepreneur Andrew Yang, who had been lamenting the prevalence of smartphone addiction a moment earlier, jumped in to complain that Americans weren’t getting paid for their data. “Who remembers getting your data check in the mail?” he asked. The exchange illustrated a wider dynamic of the Democrats’ approach to tech. The candidates all agree that something needs to be done about America’s technology giants. They just can’t agree on what that something is.The need for a crackdown on large U.S. technology companies has become an area of bipartisan agreement, with Republicans and Democrats alike raising concerns about market power, privacy and the influence large tech companies have over political discourse. But unlike time-worn political flash points like abortion or gun control, the tech debate has yet to be boiled down to simple left-right bromides that candidates can repeat on the stump. The result was an unfocused conversation on the debate stage. Warren, who was treated as the frontrunner throughout the evening, has put out the clearest plans among the Democratic candidates. For months she’s been calling to break up Facebook Inc., Amazon Inc. and Google. “I'm not willing to give up and let a handful of monopolists dominate our democracy and our economy. It's time to fight back,” she said Tuesday. Yang said he agreed with her diagnosis. “Monopolies need to be dealt with,” added Tom Steyer.But the conversation quickly shifted from antitrust to privacy to election security. And candidates weren’t just thinking about breaking up Big Tech. Senator Cory Booker called for antitrust action that focused on everything from “pharma to farms” – referencing efforts to investigate consolidation in the pharmaceutical and agricultural industry. Most candidates focused their ire on Facebook and Twitter Inc. Harris’s attempt to browbeat Warren into supporting her stance on banning Trump’s Twitter account was notable for how it highlighted a parallel with Warren’s own crusade to pressure Facebook to ban misleading Trump ads on Facebook. Warren declined to comply and called out Amazon’s dominance in online shopping, saying that it held a much larger share of online sales than Walmart does of brick-and-mortar commerce. At another moment in the debate, Senator Amy Klobuchar brought up the Honest Ads Act, a bill she co-sponsored that increases disclosure requirements on who is paying for online advertisements. For his part, former Congressman Beto O’Rourke said that Facebook should be treated like a publisher, seemingly an allusion to a 1990s-era law protecting technology platforms from much legal liability for content their users post to their websites. “We would allow no publisher to do what Facebook is doing,” O’Rourke said. On the other hand, O’Rourke said that he did not see it as the role of a presidential candidate to call out particular companies that needed to be broken up. It was a subtle dig at Warren, whose explicit plan to break up the companies has clearly made her the candidate who other candidates measure their own ideas on tech against. To contact the author of this story: Eric Newcomer in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Joshua Brustein at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Boris Johnson would prefer to govern in poetry, but on Wednesday he was given a stark reminder, as he tried to push a Brexit deal over the line, that he had no alternative but to govern in prose. “We are not quite at the summit,” he told Conservative MPs in a five-minute speech in a crowded Westminster committee room at 4.30pm. “We are at the Hillary Step.
Crypto celebs Charlie Lee and Cameron Winklevoss say they are fed up with phony Instagram accounts impersonating them and scamming unsuspecting followers.