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CNBC | Morning Squawk
IN THE NEWS TODAY
U.S. stock futures were lower this morning, following strong gains Thursday that put Wall Street on track for its third straight winning week. Historically, October may be one of the worst months for stocks, but not in recent years and not so far this month. (CNBC)
Investors poured $2.5 billion into U.S.-based stock mutual funds and exchange-traded funds last week, after $8 billion in outflows the prior week, according to data firm Lipper. (Reuters)
Dow component General Electric (GE) this morning reported earnings that beat expectations, but revenues that fell short. Oil and gas orders were lower due to the tough environment in the energy sector. (CNBC)
Yum Brands (YUM), which owns KFC, Taco Bell, and Pizza Hut, has added activist investor Keith Meister to its board of directors and lowered its outlook for earnings and China sales this year. (CNBC)
Wynn Resorts (WYNN) matched estimates on earnings, but missed on revenue as Macau operations plunged 38 percent . Chairman Steve Wynn called the short-term environment there "bewildering." (AP)
Daily fantasy sports should be considered gambling, Nevada regulators ruled, ordering websites like DraftKings and FanDuel to stop operating immediately in the state until they get gaming licenses. (NY Times)
In the midst of a turnaround, McDonald's (MCD), bolstered by sales of all-day breakfast, is close to deciding what, if anything, it will do with its massive U.S. real estate holdings. (WSJ)
Tonight's red-eye from San Francisco to Philadelphia marks the last ever flight under the US Airways name. Shortly after departure, American (AAL) plans to unify its reservations systems. (USA Today)
Netflix (NFLX) will begin streaming its first feature film today, the African war drama "Beasts of No Nation." The movie will also be simultaneously released in select U.S. theaters. (USA Today)
Diagnostics startup Theranos has cut back use of its key finger-prick technology to just one lab test after pressure from regulators, according to a Wall Street Journal report on Friday.
Theranos CEO Elizabeth Holmes told CNBC she was shocked by a Thursday WSJ story alleging the proprietary testing of her company, valued at as much as $9 billion, may be inaccurate. (CNBC)
Democratic presidential contender Hillary Clinton is raising and spending more than any other White House rival. No other candidate, Democrat or Republican, has stockpiled as much money. (USA Today)
Vice President Joe Biden is nearing a final decision on a possible White House run, according to a message to his political network from one of his closest advisors. (LA Times)
GOP presidential candidate Mike Huckabee called Washington and Wall Street a strip club. "You got people tossing dollars, and people doing the dance," he told CNBC.
America has lost its crown as the country with the most billionaires, according to a new wealth report. After a surge over the past year, China has 596 billionaires compared to 537 in the U.S. (CNBC)
Excessive drinking cost the American economy $249 billion in 2010, or $2.05 per drink, according to a new CDC study, in reduced workplace productivity, crime, accidents, and health problems. (CNBC)
BY THE NUMBERS
Fed policymakers are not as divided as it may appear on interest rates, said one regional Fed president, while another said the differences of opinion reflect the cross currents of the economic data.
The final trading day of the week brings several economic reports, with September industrial production and factory capacity use at 9:15 a.m. ET; the University of Michigan's preliminary October consumer sentiment index at 10 a.m. ET; and the latest JOLTS, job opportunities and labor turnover survey, also at 10 a.m. ET. Meanwhile, oil services giant Baker Hughes releases its North American rig count report at 1 p.m. ET.
First Data (FDC), the biggest IPO of the year, closed lower in its Wall Street debut. The payment processer opened 2 percent higher Thursday, but later went negative in up-and-down trading.
Supermarket chain Albertsons plans to postpone its initial public offering, originally expected to be priced Wednesday night but delayed due to market volatility, to sometime before Thanksgiving.
T-Mobile US (TMUS) will be transferring its stock listing from the NYSE to the Nasdaq, effective Oct. 26 after market close. T-Mobile shares are expected to begin trading as a Nasdaq-listed stock on Oct. 27.
STOCKS TO WATCH
Mattel (MAT) missed estimates by 9 cents with adjusted quarterly profit of 71 cents, with the toy maker's revenue missing as well. Mattel's results were impacted by weaker-than-expected sales of its Barbie doll line.
Advanced Micro Devices (AMD) lost 17 cents per share for its latest quarter, 5 cents wider than anticipated, but revenue was above estimates. The chipmaker also announced a joint venture with China's Nantong.
Chinese e-commerce giant Alibaba (BABA) is offering $26.60 per share in cash to acquire the portion of Beijing-based digital entertainment provider Youku Tudou (YOKU) that it does not already own. Alibaba currently holds a 18.3 percent stake.
Jarden (JAH) priced a secondary offering at $49 per share, compared to Thursday's closing price of $49.85. The maker of consumer brands such as First Alert and Mr. Coffee will receive gross proceeds of $490 million from the sale.
Occidental Petroleum (OXY) is selling its assets in North Dakota's Bakken region for about $500 million, according to Reuters, far less than the roughly $3 billion analysts had expected those assets to fetch last year.
AstraZeneca (AZN) saw a setback for its diabetes drug combination after the Food and Drug Administration declined to approve it. The FDA said more clinical data was needed before the treatment could be approved.
Futures http://finviz.com/futures.ashx
Yes, I re-positioned some this morning at 7.92, I think.
Taking some PACB 8.10. Will sell into volume if/when it comes. Thanks for the heads up GENT.
PACB 7.90. Still no volume. Looks higher.
CNBC | Morning Squawk
IN THE NEWS TODAY
U.S. stock futures were higher this morning, after Wednesday's Wal-Mart-induced decline on Wall Street. Europe and Asia rallied Thursday on hopes for a delayed Fed interest rate hike. (CNBC)
Dow stock Goldman Sachs (GS) this morning missed estimates on earnings and revenue. Citigroup (C) is also out before the bell, with the latest numbers from Mattel (MAT), Schlumberger (SLB), and Wynn Resorts (WYNN) this afternoon. (CNBC)
Netflix (NFLX) late Wednesday missed estimates on earnings and revenue. The video streaming service said subscriber additions missed estimates, due to the ongoing transition to chip-based credit cards.
Wal-Mart was lower in premarket trading. The stock had its worst day in 15 years Wednesday, after the retailer forecasted at an analyst meeting a potential double-digit earnings decline in the coming fiscal year. (CNBC)
First Data's IPO was priced last night at $16 per share, below the expected range, giving the payment processor a market value of $14 billion. The stock is set to begin trading today. (Reuters)
Hours after delaying its initial public offering last night, grocery chain Albertsons was making plans to price the offering as soon as today, but other sources say it might be much longer. (CNBC & Reuters)
Mobile payments firm Square has filed for its long-expected IPO, in a test of founder and CEO Jack Dorsey, who at the same is turning around Twitter (TWTR), a company he co-founded and also leads as CEO. (Reuters)
President Barack Obama is set to announce today plans to slow the draw down of U.S. troops from Afghanistan, and instead keep the current force of 9,800 through most of 2016 before beginning to trim levels. (Reuters)
Valeant (VRX) was subpoenaed by U.S. officials who want more information about its drug pricing practices. Valeant, which has come under criticism recently for large price hikes, said it would cooperate with the investigation. (CNBC)
In another blow to daily fantasy sports operators, the Justice Department and FBI are reportedly investigating whether the business model of these companies violates federal law. (WSJ)
Germany's automotive watchdog has ordered Volkswagen to recall 2.4 million vehicles in the country, after Europe's biggest carmaker admitted to cheating on emissions tests for diesel vehicles. (Reuters)
Tesla (TSLA) is giving Model S and Model X owners the ability to take their hands off the wheel and let their vehicle take control when driving in certain conditions. (CNBC)
Apple (AAPL) expanded its stock award program to all employees, including workers in its Apple retail stores, the Wall Street Journal reported, citing an email from CEO Tim Cook.
BY THE NUMBERS
Oil prices were under pressure again this morning, after slipping Wednesday on a much larger-than-expected jump in U.S. crude stockpiles, according to the American Petroleum Institute. (Reuters)
It's a busy day for economic numbers, beginning at 8:30 a.m. ET, with the release of weekly initial jobless claims, September consumer prices, and the Fed's Empire State survey for October. Then at 10 a.m. ET, it's the October Philadelphia Fed index.
The Social Security Administration this morning is set to announce its annual cost-of-living-adjustment. An increase in benefits for next year is unlikely because of low inflation.
There's also a busy line up of Fed-related speakers today, with St. Louis Fed President James Bullard, New York Fed President William Dudley, and Cleveland Fed President Loretta Mester all making appearances.
A recent paper from the San Francisco Fed surprisingly questions whether easy monetary policies are holding back the economy's potential and keeping inflation below target.
New foreclosures may be back to nearly normal, but the mess from the epic housing disaster in the last decade is far from over. Bank repossessions, the final stage of the foreclosure process, rose 66 percent in the third quarter.
STOCKS TO WATCH
UnitedHealth Group (UNH) earned $1.65 per share for its latest quarter, 1 cent above estimates, while revenue was well above forecasts. The insurer's results were helped by an increase in membership.
Philip Morris's (MO) quarterly profit came in at an adjusted $1.24 per share, 13 cents above estimates, with revenue also above forecasts. The company said it is being impacted by negative currency effects, but added that its overall business outlook is improving.
Garmin (GRMN) cut its earnings forecast for its third quarter and for the full-year. The maker of GPS products blamed the global economic climate and competitive pricing.
Sales at Syngenta (SYT) fell a greater-than-expected 12 percent during its latest quarter. The agricultural chemicals maker, recently the takeover target of rival Monsanto (MON), said it was hurt by currency issues.
The EU is set to rule that tax deals struck by both Starbucks (SBUX) and Fiat Chrysler (FCAU) are illegal, according to the Wall Street Journal. The ruling is expected to come down next week.
AT&T (T), owner of DirecTV, is not opposed to the proposed merger of Charter (CHTR) and Time Warner Cable (TWC). Earlier this week, Dish Network (DISH) registered its opposition.
Southwest Airlines (LUV), known for short, domestic-only flights with no baggage fees, begins international service today . All of the new routes depart from Houston and Ft. Lauderdale.
WATERCOOLER
Restaurateur Danny Meyer, also founder of Shake Shack, said all 13 restaurants in his Union Square Hospitality Group will eliminate tipping and hike menu prices as a result. No changes were planned at the burger chain, now a public company after being spun off. (NY Times)
Thanks GENT. Good info as always...even when it doesn't work out.
PACB 7.61. Not much volume yet. Wait for it.
PACB Yes, its consolidating, imo, Lee. RSI had run up over 80.
I think your options sound best.
But all be careful- bc of the low PPS & float, manipulators are all over this.
MG- interested but presently out.
PACN 7.50 making nice noises. Today, tomorrow, the next day? We'll see.
PACB chart "suggests" an upside bust out. We'll see.
CNBC | Morning Squawk
IN THE NEWS TODAY
U.S. stock futures were under pressure this morning, with Europe and Asia in the red. The Dow snapped a seven-session winning streak on Tuesday, as the focus on Wall Street shifts to earnings season. Analysts expect a 4.8 percent decline in S&P 500 profits. (CNBC)
Bank of America (BAC) and Wells Fargo (WFC) are out with quarterly profits this morning, following JPMorgan's (JPM) disappointing results after the bell Tuesday. Netflix (NFLX) leads this afternoon's reports. (CNBC)
Intel (INTC) late Tuesday reported earnings and revenue that beat expectations. Strength in its data center and mobile device chip businesses more than offset weak demand in its PC segment. (CNBC)
Russia is not to blame for a global glut in oil that's caused prices to slump over the last 16 months, said the country's energy minister, blaming U.S. shale oil producers and OPEC. (CNBC)
Chinese consumer prices eased in September while producer prices remained firmly in deflation, fanning speculation of additional monetary easing to shore up demand in the world's second largest economy. (CNBC)
Hillary Clinton, seeking to halt the momentum of challenger Bernie Sanders, aggressively questioned his values, positions, and voting history last night at the first Democratic presidential debate. (NY Times)
Apple (AAPL) could face up to $862 million in damages after a federal jury found the iPhone maker used technology owned by the University of Wisconsin without permission in chips found in many of its most popular devices. (Reuters)
Actions by Goldman Sachs (GS) as an adviser to Malaysia's troubled sovereign wealth fund are reportedly being examined by U.S. authorities. Five countries are currently probing the heavily-indebted fund. (WSJ)
The SEC is said to be preparing to file civil charges against Mondelez (MDLZ), in connection with a long-running investigation of payments the snack food giant's Cadbury unit made in India. (WSJ)
Wal-Mart CEO Doug McMillon told CNBC the retailing giant's investments in its associates, stores, and e-commerce capabilities are starting to pay off.
Despite being one of the oldest names in the car business, General Motors (GM) is "among the leaders " in the development of self-driving cars along with Silicon Valley's best, CEO Mary Barra said. (USA Today)
Toyota (TM) hopes to sell more than 30,000 fuel cell vehicles annually around or after 2020. The automaker also said the latest version of its Prius hybrid would be 20 percent more fuel efficient. (Reuters)
BY THE NUMBERS
The U.S. economy likely would not support an interest rate hike this year without signs inflation and wages are increasing, Fed Governor Daniel Tarullo told CNBC.
Investors get a double dose of economic reports at 8:30 a.m. ET, with retail sales and producer prices for September both released. At 10 a.m. ET, it's August business inventories. At 10:30 a.m. ET, weekly oil and gasoline inventories are out. And at 2 p.m. ET, the Fed issues its Beige Book, a region-by-region assessment of growth.
Mortgage applications plummeted 27.6 percent last week, according to the Mortgage Bankers Association, following the prior week's 25.5 percent surge, just ahead of the implementation of new home loan disclosure rules.
Payment processor First Data, the largest IPO of the year, is slated to price after the bell. Meanwhile, grocer Albertsons is also set to price its offering this afternoon.
But luxury retailer Neiman Marcus has pushed back its planned IPO to next year, according to Reuters. Stock market jitters have reportedly prompted the hold.
STOCKS TO WATCH
Delta (DAL) reported adjusted quarterly profit of $1.74 per share, beating estimates by 3 cents, with revenue very slightly above expectations. Delta's bottom line was helped by the drop in oil prices.
CSX (CSX) reported quarterly profit of 50 cents per share, 2 cents above estimates, with revenue essentially in line. The rail operator is being hit by falling coal freight business, but cost cuts and lower fuel prices helped the bottom line.
Dollar General (DG) plans to cut approximately 255 jobs, effective immediately, after the discount retailer completed a review of its cost structure.
Dish Network (DISH) has asked the FCC to block the proposed merger of Charter (CHTR) and Time Warner Cable (TWC). The satellite TV operator said the combined company would have too much power in the broadband segment.
Diageo (DEO) sold the majority of its US and UK wine operations to Australia's Treasury Wine Estates for $552 million.
EMC (EMC) would pay Dell a breakup fee of up to $2.5 billion, if it backs out of the deal to be acquired by Dell because of a better offer.
BHP Billiton (BHP) plans to sell about $3 billion in bonds this week, as it tests the market for commodity-related investments.
Futures http://finviz.com/futures.ashx
HAWK CFO Jerry Ulrich added, "Adjusted EBITDA grew 95%, higher than adjusted operating revenue growth due to leverage in sales and marketing, and general and administrative expenses. Excluding the reduction in cash taxes payable related to our 2014 spin-off from Safeway and the realization of acquisition-related net operating losses, adjusted net income grew 107% and adjusted diluted EPS grew 89% during the third quarter. Further, excluding 2014 and 2015 acquisitions, adjusted operating revenues grew 22% and adjusted EBITDA grew 49%."
Oct 13 HAWK announced Q3 earnings of $0.35 per share (vs. $0.260) at 10/13/2015 5:00:00 PM ET
Oct 14 HAWK Earnings Conference Call at 9:00 AM Listen
HAWK Blackhawk Announces Third Quarter 2015 Financial Results; Adjusted Operating Revenues Rise 54% Versus Third Quarter 2014; Adjusted Net Income Increases 59%
BY GlobeNewswire — 5:00 PM ET 10/13/2015
http://stockcharts.com/h-sc/ui?s=HAWK
PLEASANTON, Calif., Oct. 13, 2015 (GLOBE NEWSWIRE) -- Blackhawk Network Holdings, Inc. (HAWK) today announced financial results for the third quarter ended September 12, 2015.
$ in millions except per share amounts Q3'15 Q3'14 % Change
Adjusted Operating Revenues $ 193.4 $ 125.4 54%
Adjusted EBITDA $ 28.6 $ 14.7 95%
Adjusted Net Income $ 19.8 $ 12.4 59%
Adjusted EPS (Diluted) $ 0.35 $ 0.23 52%
Operating Revenues (GAAP) $ 352.7 $ 269.0 31%
PACB: Analysts are all over the place; hold to sell; hold to buy. They clearly don't know. I'll watch the chart, the chart will talk to me. Maybe.
HAWK Making a move. Reports tonight. In yesterday and already green
Looking for EPS beat on lower rev.
http://stockcharts.com/h-sc/ui?s=HAWK
RT 95 in South Carolina has been closed for at least a week due to flooding. Traffic diverted at RT 26 exit to Columbia, S.C. and then I20 to Florence to get back on 95. Big detour! Took opportunity to explore Charleston and Mt Pleasant, which was exceedingly pleasant but I discerned no mount- unless you count the ramp up the Ravenel Bridge https://www.google.com/search?q=charleston+sc+bridge&gws_rd=ssl
Be the first to identify the Red Sox in this map and receive 12 months of my alerts https://www.google.com/maps/place/Francis+Marion+National+Forest/@32.8977556,-80.0406392,10z/data=!4m2!3m1!1s0x0000000000000000:0xa36f0dc6f5a1aea5
I divine it as tantamount to approval.
That explains the weakness. I'll stick with it for a while, the FDA could give it a "go" anytime.
COLL FDA delays ruling on Collegium's opioid painkiller
BY Reuters — 5:14 PM ET 10/12/2015
http://stockcharts.com/h-sc/ui?s=COLL
Oct 12 (Reuters) - Collegium Pharmaceutical Inc (COLL) said the U.S. Food and Drug Administration said it would not be able to complete its review of the company's opioid painkiller by Monday.
The company's shares fell 8 percent in extended trading.
Collegium did not say if the FDA had given any reason for not being able to complete the review by the set date of Oct. 12 or when it expected the review would now be completed.
Collegium's long-acting experimental oral opioid painkiller, Xtampza, is meant to be taken after a meal for maximum effect.
A panel of outside advisers to the FDA had unanimously voted in favor of the drug on Sept. 11. But, two days before that FDA staff had said that if the drug was taken without food, it could give insufficient relief, which could lead to overdosing.
The abuse of opioids - a class of drugs that include heroin and prescription painkillers - has long been a concern. An overdose of such drugs can produce euphoric highs and even disrupt parts of the brain that control breathing.
The FDA's ruling on Xtampza will be keenly watched by other developers of abuse-deterrent versions of painkillers.
These include Pernix Therapeutics Holdings Inc (PTX), Egalet Corp (EGLT), KemPharm Inc (KMPH), Pain Therapeutics Inc (PTIE) and Acura Pharmaceuticals Inc. (ACUR)
Collegium's shares were trading at $18.25 after the bell. They closed at $20.09 on the Nasdaq. (Reporting by Rosmi Shaji in Bengaluru; Editing by Savio D'Souza)
Futures http://finviz.com/futures.ashx
YW Lee. Hope it works out for us.
Got the PACB calls at my price. Thanks GENT.
Valuable GENT. Where do I sign?
DELL in talks with EMC; DELL to acquire EMC.
Inaugural picks for my new alert service
From MiamiGent
Sunday, October 11, 2015
AMGN 149.59 Long. Bio sell-off on Democratic candidate proposal to attack big pharma pricing is a buying opportunity.
Does well leading to ER (10/28/15).
Looking for +10.00
http://stockcharts.com/h-sc/ui?s=AMGN
ONCE 49.30 Saturday announced favorable results on a phase 3 candidate. Should be a momo play Monday.
http://stockcharts.com/h-sc/ui?s=ONCE
PACB 8.07 Long. Initially bearish, I've done a 180 on this one. New iteration of its sequencing machine may put it in the ballpark with Illumina (ILMN), far and away the market leader. With Roche as its partner, PCAB could gain appreciable market share in 2016. With bios, it's all about the potential.
52 week resistance is 8.78. If breaks, it's blue sky to IPO of 16.
http://stockcharts.com/h-sc/ui?s=PACB
COLL 20.67 PDUFA date Monday, 10/12/15.
Looks likely to pass.
http://stockcharts.com/h-sc/ui?s=COLL
If you would like to receive my alerts regularly, private message me. If you cannot, leave a message on my board that you'd like me to message you about it. http://investorshub.advfn.com/Big-Board-Trading-21287/
Please read:
You alone are responsible for the stocks you buy or sell. Stock trading is very dangerous. You could lose all your money- many have! Simulate (pretend) trading for a few years first- it's still fun and you'll be mighty glad you did.
Thanks Gent. You are a font of information.
The markets will be open Monday, October 12th, Columbus Day.
[Ot] Columbus did not discover America, the New World. He got close to New York, hooked a left and ended up in Puerto Rico.
You could look it up.
But Chris Columbus gets a holiday in his name.
Amerigo Vespucci discovered America. No holiday for him.
Good question.
PACB Totally.
I keep messin up by using my head and going short. Then I get nailed and reverse, going long and making it all up- and then some.
If I'd just bot the AM low stayed out of the way, I'd be rich!
I'm convinced they are taking it to 10 break, at least.
Good weekend, binks.
MG
INSANE run
Wish I got in sub 4
It may see 10 next week but its losing volume
Only had to use $786K to get that result, lol.
Futures http://finviz.com/futures.ashx
CNBC | Morning Squawk
IN THE NEWS TODAY
U.S. stock futures were searching for direction this morning, after the Dow powered higher for a fifth straight session Thursday, closing back above the 17,000 level, on dovish signals from the Fed minutes. The S&P 500 was poised to log its best week of the year. (CNBC)
Helping to boost the overall stock market was a rebound in oil, holding over $50 a barrel this morning, after exceeding that mark Thursday for the first time since late July. Crude prices were set for their biggest weekly rise since 2009. (Reuters)
Asian stocks marched higher today, fueled by indications in the Fed minutes from the September meeting that policymakers remain concerned about low inflation and the global economic slowdown. (CNBC)
The Fed should have raised interest rates in March, said Morgan Stanley (MS) CEO James Gorman. Speaking at the Stern School of Business, he added the central bank has kept rates "too low too long." (Reuters)
Apple (AAPL) has removed some insecure ad-blocking products from its App Store over concerns they could compromise sensitive user data in certain circumstances. (CNBC)
Elon Musk called Apple a "Tesla graveyard," where failed employees of his electric carmaker go to work — criticizing the iPhone maker's ambitions in the auto space. (CNBC)
Starbucks (SBUX) will soon accept Apple Pay, with KFC and Chili's on board sometime next year. Meanwhile, Delta (DAL) passengers can now book and pay for flights using Apple Pay through the Fly Delta app. (The Verge)
Investigators looking into last year's data breach and theft of driver records from Uber have found indications implicating an executive at rival ride-hailing app Lyft. (WSJ)
Twitter (TWTR) has added new capabilities to its video ad platform, allowing advertisers to more easily place short roll ads that run before video chosen by users. (Re/code)
Medicare Part B premiums are expected to rise 52 percent next year for 7 million enrollees or 30 percent of beneficiaries because of a provision in cost-of-living adjustments for Social Security. (USA Today)
House Majority Leader Kevin McCarthy pulled out of the race for House speaker Thursday, throwing uncertainty on congressional leadership ahead of crucial budget negotiations. (CNBC)
Four Russian cruise missiles fired at rebels in Syria from a warship in the Caspian Sea Wednesday crashed in Iran, according to U.S. officials. Russia insisted they reached their targets in Syria. (Reuters)
Tunisia's National Dialogue Quartet won the Nobel Peace Prize today for its contribution to building democracy after the Jasmine Revolution in 2011. (Reuters)
BY THE NUMBERS
Following the September meeting Fed minutes, Atlanta Fed President Dennis Lockhart speaks at 9:10 a.m. ET in New York City; New York Fed President Bill Dudley talks to CNBC at 11 a.m. ET; and Chicago Fed President Charles Evans speaks at 1:30 p.m. ET in Milwaukee.
The government issues two economic reports today: Import and export prices for September at 8:30 a.m. ET and wholesale inventories and sales for August at 10 a.m. ET.
There are no major companies reporting earnings before or after the bell today. But late Thursday, Alcoa (AA) posted quarterly profit well below expectations, with revenue slightly missing, as high-growth aerospace and automotive materials couldn't overcome the effects of low commodity prices.
Same-store sales at Gap (GPS) dropped a smaller-than-expected 1 percent last month. The company's Old Navy brand saw the biggest decline, down 10 percent, with Gap stores flat and Banana Republic up 4 percent.
United Continental (UAL) raised its profit margin forecast for the just-ended third quarter. The increase stems in part from a new credit card agreement for frequent fliers, which will provide the airline with extra revenue.
STOCKS TO WATCH
Private-equity firm Golden Gate Capital disclosed a 9 percent stake in Ascena Retail Group (ASNA) — behind brands including Ann Taylor, Lane Bryant, and Justice — and discussions with the retailer on ways to boost shareholder value. That's according to Dow Jones.
SABMiller is increasing its cost saving target by $550 million, emphasizing its plan assumes no change in ownership. SABMiller rejected this week Anheuser-Busch InBev's (BUD) sweetened $104 billion takeover bid.
Chevron (CVX) has extended planned job cuts to its global energy trading desks, according to Reuters. The oil giant is in the midst of implementing a $3 billion cost-cutting plan amid slumping crude prices.
Fiat Chrysler's (FCAU) new tentative four-year contract with the United Auto Workers union eliminates the controversial two-tier pay system, according to Reuters. A prior agreement was rejected last week by union members.
Ride-hailing service Lyft has partnered with Hertz (HTZ) to offer rental cars to drivers in Las Vegas, as part of a pilot program aimed at people who don't have their own cars or those that meet Lyft standards.
WATERCOOLER
The American League Division Series kicked off Thursday, but baseball playoffs will be full swing today, when all eight teams alive in the postseason will take the field. (USA Today)
The international team wound up winning two holes in one at the Presidents Cup today, when American golfer Phil Mickelson didn't know the rules. (USA Today)
A Manny Pacquiao-Floyd Mayweather boxing rematch may possibly be in the works. Pacquiao, who lost the first fight, said a decsision could be made soon. (AFP)
Basketball star LeBron James has decided not to renew his endorsement deal with McDonald's (MCD), instead choosing to be part of a marketing campaign for Blaze Pizza, where he's an investor and a franchisee. (CNBC)
Better late than never?
CNBC | Morning Squawk
IN THE NEWS TODAY
U.S. stock futures were lower this morning, after the Dow logged its fourth session of gains Wednesday. Investors await the minutes from the Fed's September meeting at 2 p.m. ET. (CNBC)
Chinese stocks surged 3 percent today, in a catch-up rally as the market resumed trading after a week-long holiday, while the rest of the region put up a lackluster performance. (CNBC)
Oil saw support this morning, bolstering a recent upswing on reports and data signalling a rise in demand and fall in supply. U.S. crude rallied near $50 a barrel Wednesday morning, before settling lower. (CNBC)
The year isn't over yet, but oil tycoon T. Boone Pickens said his prediction for $70 a barrel U.S. crude by the end of 2015 isn't looking good, because of OPEC's determination to control the market. (CNBC)
Pickens joins CNBC's "Squawk Box" at 8 a.m. ET to explain how he's recalibrating his expectations for oil prices.
Dell, the world's third-largest maker of personal computers, is said to be in talks to buy cloud computing company EMC (EMC), which had a market value of about $50 billion as of Wednesday's close. (Reuters)
BioMed Realty Trust (BMR), a manager of lab and office space, has agreed to be acquired by Blackstone (BX) in an all-cash deal valued at $8 billion or $23.75 per share, a 10 percent premium to Wednesday's close. (CNBC)
Avoiding a strike, the United Auto Workers early this morning reached another tentative contract deal with Fiat Chrysler (FCAU). Last month, the union's U.S. members rejected the initial agreement. (Reuters)
Volkswagen's U.S. chief executive said he was informed last year about "possible emissions" issues, but was told VW engineers would work with the EPA, according to testimony prepared for today's hearing. (NY Times)
Deutsche Bank (DB) is bracing for a record, pre-tax loss of $6.7 billion in the third quarter due to writedowns . The German lender may also reduce or suspend its dividend this year. (Reuters)
Google (GOOGL) has formally announced a partnership with Twitter (TWTR) and other publishers to ensure news articles load more quickly. But mention of Facebook (FB) was conspicuously absent. (NY Times)
Amazon (AMZN) stepped into the handcrafted-goods business today, opening an online marketplace that squarely takes aim at a niche but growing space dominated by Etsy (ETSY).
Democratic presidential candidate Hillary Clinton plans to unveil today a plan to curb what she sees as abuses of Wall Street, including proposals to raise fines and to impose a new tax on high-frequency trading. (Reuters)
Hillary Clinton said she won't support the 12-nation free trade pact that President Barack Obama has championed and liberals in the Democratic party have vehemently opposed. (NY Times)
President Obama has signed bipartisian legislation aimed at preventing premium increases that some smaller businesses were expecting next year under his signature health care law. (AP)
House Republicans gather behind closed doors today to nominate a new speaker. Kevin McCarthy, currently the House majority leader, was the odds-on favorite over two other contenders. (USA Today)
Media mogul Rupert Murdoch is drawing criticism for implying that President Obama is not a "real black president" in a tweet last night intended to praise GOP presidential hopeful Ben Carson.
BY THE NUMBERS
Ahead of this afternoon's Fed minutes, St. Louis Fed President James Bullard and Minneapolis Fed President Naryana Kocherlakota speak at 9:30 a.m. ET and 1 p.m. ET, respectively. San Francisco Fed President John Williams speaks at 3 p.m. ET, one hour after the release of the minutes.
The only government economic number this morning comes from the Labor Department, which is out with weekly initial jobless claims at 8:30 a.m. ET. Economists are looking for claims of 273,000 for the week ending Oct. 3, compared to 277,000 the prior week.
Eighty cents of every dollar saved on gasoline is being spent, double what most economists assume, according to a new report from the JPMorgan Institute that pulls real spending data from Chase cardholders.
Domino's Pizza (DPZ) is on the short list of companies out with earnings this morning, while Alcoa (AA) and restaurant chain Ruby Tuesday (RT) issue quarterly numbers this afternoon.
Costco (COST) last night reported flat comparable store sales for September that beat estimates for a 0.8 percent decline. Excluding gasoline and currency impact, sales increased 8 percent.
General Electric's (GE) outlook has been cut to "negative" from "stable" by Standard & Poor's, following the acquisition of a $2.5 billion stake by Nelson Peltz's Trian Partners.
STOCKS TO WATCH
Lumber Liquidators (LL) has agreed to pay a $13.2 million fine to resolve complaints involving importing illegally harvested timber. The case is unrelated to the "60 Minutes" formaldehyde investigation from earlier this year.
Diageo (DEO) may sell its beer division to brewer SABMiller, according to the New York Post. SABMiller could use such a deal to help it fend off a takeover attempt by rival brewer Anheuser-Busch InBev (BUD).
Gannett (GCI) is buying Journal Media Group (JMG) in a $280 million deal, with the USA Today publisher saying the deal would add about $450 million in revenue each year.
Sony (SNE) cut the price of its PlayStation 4 videogame console in the US and Canada by $50, effective tomorrow.
When Google first introduced the world to Alphabet, its new parent company, it was unfurled with the domain ABC.xyz. Now Alphabet has purchased abcdefghijklmnopqrstuvwxyz.com.
WATERCOOLER
The National Retail Federation expects holiday sales to increase 3.7 percent this year, in line with several other industry forecasts, but below last year's 4.1 percent advance. (CNBC)
Property managers in the U.S. may raise rents by as much as 8 percent next year, as demand rises and vacancies fall, according to a new survey from rental website Rent.com. (CNBC)
I did. After being down thousands, now up $454. Went with it- got in the zone, didn't attempt to impose what I think it should be, or over think at all.
Scary stuff.
In Carolinas now, meandering north. Lovely temps following muggy My-ami.
MG
MiamiGent Thursday, 10/08/15 11:00:44 AM
Post # of 630
PACB What It Is..
To those who lost shorting prematurely- just try it to recoup by trading the snot out of it. These guys will probably run it to 10 break.
Doesn't make sense but it is a controlled stock for now..
MG
http://stockcharts.com/h-sc/ui?s=PACB
CNBC | Morning Squawk
IN THE NEWS TODAY
U.S. stock futures powered higher this morning, after the Dow eked out its third straight gain Tuesday. The S&P 500, however, broke its five-session winning streak, while the Nasdaq's four-session advance ended. (CNBC)
The stock market is out of sync with Main Street, billionaire investor Sam Zell told CNBC, adding there continues to be a disparity between reality and Wall Street.
San Francisco Fed President John Williams still expects the central bank to begin raising short-term interest rates this year, despite a slowing of job gains in September. (WSJ)
Central banks around the world are selling U.S. government bonds at the fastest pace on record, the most dramatic shift in the $12.8 trillion Treasury market since the 2008 financial crisis. (WSJ-subscription)
China's foreign exchange reserves shrank by $43.3 billion in September as the central bank there stepped up its currency intervention after a surprise devaluation jolted global markets. (Reuters)
Oil this morning added to Tuesday's 4.9 percent gain on a forecast suggesting a global glut in supply may be easing. Traders will be looking for confirmation from the weekly crude inventories numbers out at 10:30 a.m. ET. (CNBC)
Anheuser-Busch InBev (BUD) is raising its bid for SABMiller to $103.6 billion. This marks the third takeover proposal to combine the two biggest beer brewers in the world. (CNBC)
Yum Brands (YUM) stock plunged in premarket trading, after the parent of KFC, Taco Bell, and Pizza Hut missed estimates with quarterly earnings and revenue. A key China metric also disappointed. (CNBC)
Saudi billionaire Prince Alwaleed bin Talal and his investment company have doubled their ownership of Twitter (TWTR) shares in the past six weeks to 5 percent, with a market value of $1 billion. (AP)
One futuristic interest SpaceX and Tesla (TSLA) CEO Elon Musk doesn't share with some of his fellow Silicon Valley titans is the notion of extending life as an obviously good idea. (Vanity Fair)
United Auto Workers members are planning a strike at U.S. manufacturing plants of Fiat Chrysler Automobiles (FCAU) ahead of the current four-year contract extension expiration at midnight. (Reuters)
Emissions cheating in diesel cars came from Volkswagen's headquarters in Germany, not the U.S., said VW's new chief executive, with only a few employees believed to be involved. (Reuters)
Billionaire hedge fund manager Bill Ackman said he's certain former New York City mayor Michael Bloomberg is going to run for president of the United States, and win. (CNBC)
GOP presidential candidate Ben Carson, speaking about the mass shooting in Oregon, said that victims should not be timid during attacks, and he defended his position against tougher gun control measures. (NY Times)
Carson joins CNBC's "Squawk Box" at 8:30 a.m. ET to talk about his rise in the polls and his vision for the nation.
Amtrak is threatening to suspend some services in December unless Congress extends a year-end deadline for adding a speed safeguard, which was not in place on the train that derailed in May near Philadelphia. (CNBC)
Norwegian Air Shuttle, Europe's third-largest budget airline, hopes to sell one-way tickets to Europe for $69 as early as 2017 by flying from U.S. airports with low fees. (Reuters)
BY THE NUMBERS
The only government economic report for today comes at 3 p.m. ET, with the release of August consumer credit figures. Economists are looking for a $20 billion increase, following a $19.1 billion rise in July.
Another roller-coaster interest rate ride, combined with anxiety over new home loan regulations, caused borrowers to rush to their lenders last week, pushing total mortgage applications up 25.5 percent, according to the Mortgage Bankers Association.
Twenty-eight percent of Americans have nothing in their savings accounts and another 21 percent don't even have a savings account, according to a new survey.
Spirits maker Constellation Brands (STZ) and chemical producer Monsanto (MON) lead this morning earnings reports , but there are no major companies issuing quarterly numbers after the bell this afternoon.
STOCKS TO WATCH
Marking a significant bet on diversification beyond its Internet radio service, Pandora (P) appears close to a $450 million deal to buy Ticketfly, a ticketing agency specializing in smaller concert venues.
Express Scripts (ESRX) will cover the costs of two new cholesterol drugs: Praluent made by Regeneron Pharmaceuticals (REGN) and Repatha from biotech giant Amgen (AMGN).
Nu Skin Enterprises (NUS) late Tuesday cut its revenue estimate for its third quarter, with the skin care products maker pointing to a strong dollar and weaker than expected sales in China.
Adobe Systems (ADBE), the software maker behind PhotoShop, Flash and Acrobat, unveiled in a three-year growth strategy and disappointing financial targets.
Starbucks (SBUX) named a former Adobe executive its first-ever chief technology officer, joining the COO who also has a tech background having been CEO at Juniper Networks.
Pure Storage (PSTG) priced its IPO at $17 a share, the midpoint of the expected range, valuing the six-year-old company at about $3.1 billion. The stock is set to begin trading this morning.
With shareholder approval unlikely, Media General (MEG) has dropped its bid to buy TV station operator and magazine publisher Meredith Corporation (MDP), according to the New York Post.
SYRX Analyst Actions: Sysorex Global Holdings Initiated With Buy And $2.50 Price Target At B. Riley
BY Midnight Trader — 8:49 AM ET 10/05/2015
08:49 AM EDT, 10/05/2015 (MT Newswires) -- Sysorex Global Holdings (SYRX) shares were initiated by B. Riley with a buy rating and $2.50 price target.
SYRX I added an equal amount @ 1.04 for a 106.5 avg.
Thanks for keeping our bud stoney in the picture, Below Me. Like us, he loved this stuff.
Upgrades coming in..
Thomson Reuters/Verus upgrades SYSOREX GLOBAL HOLDINGS CORPORATION from HOLD to BUY.
BY Investars Analyst Actions - public— 11:05 AM ET 10/05/2015
On October 5, 2015 Thomson Reuters/Verus upgraded SYSOREX GLOBAL HOLDINGS CORPORATION (SYRX) from HOLD to BUY.
http://stockcharts.com/h-sc/ui?s=SYRX
Over 50k on Bid. Over 100k Bid $1.08
I think you did well today.
Our friend STONEY would have approved.
Best wishes to you and all in SYRX
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