Breaking Stock Market and Financial News

TREASURIES-U.S. yields fall after Draghi's bond purchase remarks

Reuters Us Markets - Thu, 10/20/2016 - 09:58
NEW YORK, Oct 20 (Reuters) - U.S. Treasury yields fell on Thursday as European Central Bank President Mario Draghi said there was no discussion at the ECB's latest policy meeting on possible changes...

UPDATE 3-Falling freight volumes hurt Union Pacific profit; stock falls

Reuters Us Markets - Thu, 10/20/2016 - 09:58
DETROIT, Oct 20 (Reuters) - Union Pacific Corp reported a lower-than-expected quarterly profit as freight volumes declined and forecast a drop in the current period due partly to the strong U.S....

India's Wipro to buy US cloud services company Appirio for $500 mln

Reuters Us Markets - Thu, 10/20/2016 - 09:57
MUMBAI, Oct 20 (Reuters) - Wipro Ltd, India's third-biggest software services exporter, said on Thursday it had agreed to buy U.S.-based cloud services company Appirio for $500 million.

BRIEF-Old Line Bancshares quarterly earnings per share $0.32

Reuters Us Markets - Thu, 10/20/2016 - 09:57
* Says qtrly net interest income increased $1.6 million to $13.3 million

London builders turn to funds as property prices drop

Reuters Us Markets - Thu, 10/20/2016 - 09:54
Oct 20 (Reuters) - High-end property developers in London are restricting the supply of homes to prevent further price falls by selling entire apartment blocks to funds for rental, according to...

BRIEF-Magellan Midstream increases quarterly cash distribution to 83.75 cents

Reuters Us Markets - Thu, 10/20/2016 - 09:52
* Magellan midstream increases quarterly cash distribution to 83.75 cents

UK lawmakers back stripping Philip Green of knighthood over BHS collapse

Reuters Us Markets - Thu, 10/20/2016 - 09:51
LONDON, Oct 20 (Reuters) - British lawmakers backed stripping billionaire Philip Green of his knighthood over the collapse of BHS, in a symbolic move on Thursday that will raise pressure on the...

BRIEF-Heartland Express Q3 earnings per share $0.15

Reuters Us Markets - Thu, 10/20/2016 - 09:45
* Heartland Express, Inc. Reports revenues and earnings for the third quarter of 2016

MOVES-JLT Re names managing director for PT JLT Re Indonesia

Reuters Us Markets - Thu, 10/20/2016 - 09:44
Oct 20 (Reuters) - JLT Re, a unit of Jardine Lloyd Thompson , appointed Graeme Harley as managing director, PT JLT Re Indonesia.

Wall St. opens lower on weak earnings, oil prices

Top Reuters News - Thu, 10/20/2016 - 09:40
(Reuters) - U.S. stocks opened slightly lower on Thursday as weak oil prices weighed on energy and material stocks and due to tepid earnings reports from some marquee companies.

UK to pardon thousands of gay men convicted under defunct laws

Top Reuters News - Thu, 10/20/2016 - 09:38
LONDON (Reuters) - Britain is to pardon thousands of gay and bisexual men who were convicted of crimes under sexual offense laws which have now been abolished, following on from the 2013 exoneration of celebrated World War Two codebreaker Alan Turing.

U.S. stocks open lower on earnings, data

MarketWatch Market Pulse - Thu, 10/20/2016 - 09:34

U.S. stocks opened modestly lower on Thursday, pressured by some weak economic data, as well as by quarterly results from Verizon Communications [S: VZ] and Travelers Cos. Inc. [S: TRV], both of which fell in morning trading. Jobless claims rose in the latest week, while a read on regional manufacturing retreated from a 19-month high. The Dow Jones Industrial Average [S: DJIA] fell 24 points, or 0.1%, to 18,179.5. Verizon and Travelers were among the biggest losers among Dow components; Verizon fell 2% while Travelers lost 2.5%. The S&P 500 [S: SPX] fell 3.9 points, or 0.2%, to 2,139.73. The Nasdaq Composite Index [S: COMP] fell 9 points, or 0.2%, to 5,237.

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Euro posts wild swings as Draghi grilled on QE

MarketWatch Market Pulse - Thu, 10/20/2016 - 09:32

The euro jumped to an intraday high during European Central Bank President Mario Draghi's news conference on Thursday, but was quickly sent lower as the ECB boss answered questions on monetary easing. The shared currency rallied to as high as $1.1040 after Draghi said the Governing Council had not discussed an extension of its quantitative easing program at Thursday's meeting. The comment was seen as dashing hopes the central bank would extend the bond purchases beyond March 2017, which many economists have built into their forecasts. However, shortly after, Draghi also said the bank has no plans to abruptly end the QE program, swiftly taking the euro off its high, to $1.0966. The euro bought $1.0975 late Wednesday in New York. Other markets were also reacting to Draghi's comments. The yield on the German 10-year bund , considered the eurozone's benchmark bond, rose as high as 0.074% before falling back to 0.035% in recent trade. The Stoxx Europe 600 index pared losses to 0.3%, while the S&P 500 opened 0.2% lower.

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'Walking while trans' can be a death sentence in the U.S.

Top Reuters News - Thu, 10/20/2016 - 08:59
WASHINGTON (Reuters) - Sergeant Jessica Hawkins was a male cop for 20 years but it was not until her transition to a woman in 2014 that she understood the trepidation that transgender women feel across the United States.

Dow futures' early gain is all because of American Express

MarketWatch Market Pulse - Thu, 10/20/2016 - 07:59

Shares of American Express Co. surged $3.94, or 6.4%, in premarket trade Thursday, after the credit card and travel services company reported late Wednesday better-than-expected third-quarter results and raised its profit outlook. That price gain would add about 27 points to the Dow Jones Industrial Average , which is a price weighted index. Meanwhile, Dow futures were last up 23 points. Meanwhile, Verizon Communications Inc.'s stock slumped $1.25, or 2.5%, in premarket trade after reporting disappointing third-quarter wireless postpaid net additions. That would shave about 9 points off the Dow's price. AmEx's stock has tumbled 12 year to date through Wednesday, while Verizon shares have climbed 9% and the Dow has gained 4.5%.

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Starbucks to open Reserve Roastery in Tokyo in 2018

MarketWatch Market Pulse - Thu, 10/20/2016 - 07:59

Starbucks Corp. said Thursday that it will open its fourth Reserve Roastery location in Tokyo in 2018. The coffee giant has enlisted the help of Tokyo Olympics 2020 designer, architect Kengo Kuma, to design the new location. Starbucks opened its first Reserve Roastery in Seattle in 2014. Shanghai's Roastery will open in 2017 and New York's is coming in 2018. Starbucks shares are inactive in premarket trading, and down 11.5% for the year so far. The S&P 500 Index is up 4.9% for 2016 to date.

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Verizon shares slump despite earnings beat

MarketWatch Market Pulse - Thu, 10/20/2016 - 07:51

Shares of Verizon Communications fell more than 2% in premarket trade after the company reported third-quarter declines in both earnings and revenue. The wireless provider reported net income of $3.6 billion, or 89 cents a share, down from $4.2 billion, or 99 cents, in the year-earlier period. Excluding one-time items, Verizon reported non-GAAP earnings of $1.01, topping the FactSet consensus view of 99 cents. Revenue for the three-month period ended September 30 was $30.9 billion, down 6.7% from $33.1 billion a year ago and slightly below analyst expectations of $31.1 billion. Verizon CEO Lowell McAdam said the company faced a "challenging environment" during the quarter. The company reported 442,000 retail postpaid net additions, which excludes wholesale devices, and whole IoT connection. The FactSet consensus for Verizon's wireless postpaid net adds was 773,000. Shares of Verizon slipped 2.2% to $49.25 ahead of the market open. They've declined by 9.4% in the past three months, underperforming the Dow Jones Industrial Average , down 2.1%. (This replaces an earlier item, that incorrectly reported revenue expectations.)

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European Central Bank stands pat on rates; focus turns to Draghi

MarketWatch Market Pulse - Thu, 10/20/2016 - 07:49

The European Central Bank, as expected, left interest rates unchanged Thursday. The focus now turns to ECB President Mario Draghi's news conference. The ECB chief is likely to play down any suggestion of a potential tapering of the bank's 80 billion-euro-a-month bond buying program but is also likely to hold off on announcing any extension of the purchases beyond its scheduled March 2017 end date. In a statement, the ECB said the Governing Council "confirms that the monthly asset purchases of 80 billion euros are intended to run until the end of March 2017, or beyond, if necessary, and in any case until it sees a sustained adjustment in the path of inflation consistent with its inflation aim."

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American Airlines shares rise after earnings beat estimates

MarketWatch Market Pulse - Thu, 10/20/2016 - 07:45

American Airlines Group Inc. shares rose 2.5% in Thursday premarket trading after the company announced third-quarter earnings that beat estimates. The airline had net income of $737 million, or $1.49 cents per share, down from $1.69 billion, or $2.49 per share, for the same period last year. Adjusted per share earnings were $2.80, beating the FactSet consensus of $1.69. Revenue was $10.59 billion, down from $10.71 billion and beating the FactSet consensus of $10.55 billion. During the quarter, American launched nonstop service between Los Angeles International Airport and Hong Kong, and began the company's first regularly-scheduled flights to Cuba, with nonstop service from Miami to Cienfuegos and Holguin. Service to Havana begins in November. American shares are down 4.1% for the year so far, while the S&P 500 Index is up nearly 5% for the same period.

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Walgreens stock slips after revenue miss

MarketWatch Market Pulse - Thu, 10/20/2016 - 07:21

Walgreens Boots Alliance Inc. shares slipped 0.2% in Thursday premarket trading after the pharmacy chain missed fourth-quarter sales estimates. The company reported net income of $1.03 billion, or 95 cents per share, up from $26 million, or 2 cents per share, for the same period last year. Adjusted per share earnings were $1.07, exceeding the 99 cents FactSet consensus. Sales for the quarter were $28.64 billion, up from $28.52 billion last year, but below the $29.11 billion forecast by FactSet. Walgreens sees fiscal 2017 adjusted earnings of $4.85 to $5.20. The FactSet consensus is $5.03. The acquisition of Rite Aid Corp. is "progressing as planned," Walgreens said, with the expected requirement that the companies divest between 500 and 1,000 stores. Walgreens shares are down 9.4% for the year so far while the S&P 500 Index is up 4.9% for the same period.

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