Have a Good Day as possible folks, clock be ticking toward the FED----

MUCH for me to do today, not sure when back....



~~POOF~~!

FDP$26.00 Fresh Delmonte reports strong earnings: Q3 EPS adj 54c Factset est 40c,
sales $1.05bln vs 1.00 bln year ago,

HUM Humana Q3 EPS $9.39 vs $11.84 year ago

MDLZ<>Got MILK? As customers hunt for bargains they're not cutting back on snacks, says Mondelez

Last Updated: Nov. 1, 2022 at 8:06 p.m. ET

'We see consumers saying that chocolate is something they cannot live without,' CEO says

Shares of Mondelez International Inc. rallied after hours on Tuesday, after the global snack maker raised its sales and profit forecasts and reported third-quarter results that topped expectations, citing a “resilience” in demand following signs of a more anxious consumer as prices rise.

Management for Mondelez MDLZ, +0.63%, which makes snacks like Oreo cookies and Triscuits, said customers continued to view those and other snacks as “affordable indulgences.” Chief Executive Dirk Van de Put said shoppers were less likely to switch to cheaper, private-label brands for chocolates, crackers, biscuits and cookies when compared to other types of food.

“We see consumers saying that chocolate is really something they cannot live without,” he said.

He made the remarks as customers in Europe — which drives a big chunk of Mondelez’s sales — remain wary of inflation and Mondelez’s own price increases, which have boosted its results. The U.S., he said, remained relatively upbeat. Consumer confidence in emerging markets was also solid, he said.

Mondelez reported third-quarter net income of $533 million for the third quarter, or 39 cents a share, down from $1.26 billion and 89 cents a share in the prior-year period.

Sales rose 8.1% to $7.76 billion, compared with $7.18 billion in the same period last year, with a smaller 0.7% uptick in volume and product mix.

ROG $229.49 Rogers Shares 40% Slide Premarket on Scuttled DuPont Deal

res of Rogers Corp. tumbled more than 40% in premarket trading Wednesday after DuPont de Nemours Inc. called off plans to buy the maker of engineered materials and components for more than $5 billion.

DuPont, which last year agreed to pay $277 a share in cash for Rogers, said it terminated the deal after the companies were unable to obtain all of the required regulatory approvals.

DuPont said it will pay Rogers a $162.5 million termination fee.

Rogers shares, which had been trading well below the takeover price amid growing concerns that the deal might fall apart and closed Tuesday at $229.49, were recently down 41% to $134.70 in premarket trading. The stock had closed at $208.23 the day before the deal was unveiled last November.

Shares of DuPont, which ended Tuesday's session at $58.70, rose 5.1% premarket to $61.70.

DISH $15.06 dish Q3 rev $4.10 bln vs $4.45 bln year ago, Q3 EPS 65c vs 88c,
Consensus 61C

GM Maria @ Fox Business News!

Benchmark Treasury stalled as traders await Fed decision
Published: Nov. 2, 2022 at 5:48 a.m. ET

https://www.marketwatch.com/story/benchmark-treasury-stalled-as-traders-await-fed-decision-11667382518?mod=newsviewer_click

INDIANA Basketball--Exhibition 2-vs Saint Francis Nov 3, 7:00 PM

BTN and IU Radio Network

Phillies put on power display from the outset vs. Astros to win World Series Game 3

Wednesday: FOMC Announcement , ADP Employment


• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, The ADP Employment Report for October. This report is for private payrolls only (no government). The consensus is for 200,000 jobs added, down from 208,000 in September.

• At 2:00 PM, FOMC Meeting Announcement. The FOMC is expected to raise rates 75bp at this meeting.

• At 2:30 PM, Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.

Yield Inversions Guarantee Recessions---Or Do They?
OfTwoMinds: What's Different Now? Quite a Few Fundamentals are Consequently Different

Long read and charts

https://www.oftwominds.com/blog.html

MTCH Match rose 16% in after hours trading after the parent company of dating apps Tinder and Hinge beat estimates for third-quarter revenue as more paying users, undeterred by decades-high inflation, signed up on its dating apps.

The company's revenue rose 1% to $810 million in the three months ending in September. Analysts on average had expected about $793 million, according to Refinitiv data.

Paying users for Tinder rose 7%. The app's total revenue grew 6%.

Stocks Advance Ahead of Fed Meeting; Dollar Falls, Market Wrap

China locks down area around 'iPhone City' in blow to Apple

https://www.bloomberg.com/news/articles/2022-11-01/stocks-under-pressure-as-hope-for-fed-pivot-fades-markets-wrap?leadSource=uverify%20wall

Vox Valor Capital Said UK Subsidiary to Start Operations in the US

Published: Nov. 2, 2022 at 5:11 a.m. ET

Vox Valor Capital Ltd. said its U.K. subsidiary was starting operations in the U.S. through its subsidiary Mobio Global Inc.

The London-listed digital-marketing technology and services company said Mobio Global Ltd. will be offering its services to U.S. and Canadian clients via Mobio Global's offices in California. The company said Mobio Global's Chief Executive Sergey Konovalov had relocated to the U.S.

The company said that opening of the U.S. office was the next logical step in its international expansion.

Vox Valor acquired Mobio Global in 2020.

Nvidia, Intel, and Micron Stocks Rise as AMD Outlook Calms Fears

Nov. 2, 2022 at 5:09 a.m. ET
By Callum Keown

AMD rose in premarket trading Wednesday, and pulled other chip stocks higher despite the company’s outlook falling short of expectations.

Shares in AMD (ticker: AMD) climbed 4.6% ahead of the open after the chipmaker’s third quarter earnings late Tuesday.

Nvidia (NVDA) stock rose 1.6%, while Intel (INTC) was 0.7% higher in early premarket trading. Micron Technology (MU) and Texas Instruments (TXN) also ticked up.

AMD reported third-quarter adjusted earnings per share of 67 cents, ahead of the Wall Street consensus of 69 cents, according to FactSet data. Revenue of $5.6 billion was in line with estimates. AMD cut its revenue outlook for the third quarter by more than $1 billion back in October, citing deteriorating demand for PCs and an inventory correction across the PC supply chain.

In the current quarter the semiconductor company said it expects revenue to be roughly $5.5 billion–plus or minus $300 million. That’s below analysts expectations of $5.8 billion. Investors may have been fearing much worse given the sharp cut to AMD’s guidance in the third quarter. The stock rallied more than 4% in after-hours trading despite the earnings miss.

“In our opinion, AMD continues to make progress in their PC inventory clean up, and expectations are that the PC business will only be down modestly in the December quarter,” Piper Sandler analysts, led by Harsh Kumar, said in a note late Tuesday.

“Overall, we believe AMD is going through a bottoming process with its revenues and earnings now. We anticipate a seasonally weak March followed by significantly better trends in June 2023,” they added, reiterating an Overweight rating on the stock.

Write to Callum Keown at callum.keown@barrons.com

European Shares open higher ahead of Fed decision, Novo Nordisk Shines

European shares opened higher on Wednesday on a boost from Danish drugmaker Novo Nordisk, while hopes grew that the U.S. Federal Reserve would signal a slowdown in its aggressive policy tightening cycle later in the day.

General Dynamics Reveals Next-Generation Army Tank, Could Replace
M1 Abrams

America's main battle tank, designed by Chrysler Defense (now General Dynamics Land Systems), has been in service for over forty years. The M1 Abrams is one of the world's most fearsome tanks, though it's becoming outdated and vulnerable on the modern battlefield.

Earlier this month, General Dynamics' unveiled "AbramsX," the next generation of main battle tanks that could one day replace the M1 Abrams, at the United States Army annual conference in Washington, D.C.
more

https://www.zerohedge.com/military/general-dynamics-reveals-next-generation-army-tank-could-replace-m1-abrams

UK Orders All Poultry And Captive Birds Indoors Amid "Largest" Ever Bird Flu
Outbreak

It comes after the national risk of bird flu in wild birds was raised to 'very high', and the whole of Great Britain was made a bird flu prevention zone two weeks ago.

Chief veterinary officer Christine Middlemiss said: "We are now facing this year the largest ever outbreak of bird flu and are seeing rapid escalation in the number of
cases on commercial farms and in backyard birds across England. -Sky News

full
https://www.zerohedge.com/commodities/uk-orders-all-poultry-and-captive-birds-indoors-amid-largest-ever-bird-flu-outbreak

<<-GSK Raises 2022 Guidance as 3Q sales Beat Expectations, UPDATE

Wednesday raised its guidance for the full year and posted rising sales for the
third quarter that beat expectations.

The British pharmaceutical major posted sales of 7.83 billion pounds ($8.99 billion) for the third quarter, up from GBP6.63 billion the year prior, and beating a company-provided consensus of GBP7.32 billion.

Operating profit was GBP1.19 billion, down slightly from GBP1.38 billion, due to the fair-value loss on the retained stake in consumer-healthcare business Haleon, which was spun off earlier in the year. Total earnings per share also fell to 18.8 pence from 21.9 pence for the same reason, GSK said.

Aftertax profit clocked in at GBP779 million, down from GBP946 million, according to the company.

GSK expects 2022 sales to increase between 8% and 10% and adjusted operating profit to increase between 15% and 17%, excluding contributions from Covid-19 products. Adjusted earnings per share are expected to grow around 1% lower than operating profit, it said.


https://www.marketwatch.com/story/gsk-raises-2022-guidance-as-3q-sales-beat-expectations-update-271667378773?mod=newsviewer_click

I got one too, a little later!

Morning Ske, WE sure wake-up as early birdies!

Ford Credit borrows $1.5 billion as bond yields hit 13-year highs, investors weigh recession fears

Last Updated: Nov. 1, 2022 at 4:54 p.m. ET
First Published: Nov. 1, 2022 at 2:37 p.m. ET
By Joy WiltermuthFollow

Investment-grade corporate bond yields approach 6%, the highest since 2009

Ford Motor Credit tapped the U.S. corporate bond market on Tuesday for $1.5 billion in funding, despite recession fears and major companies having to pay investors yields that have hit a 13-year high.

Even with tougher credit conditions, the vehicle giant’s financing arm attracted about $3.5 billion of investor orders for the new 5-year bond offering, helping to narrow pricing to 7.35% from an initial 7.625% area, according to Informa Global Markets.

That led to a bigger bond deal and slightly lower funding costs for Ford Motor Credit, which helps provide auto dealers and consumers with financing on Ford F, +0.22% and Lincoln vehicles. The initial funding target was at least $1 billion.

Last week, Ford CEO Jim Farley said demand for commercial and electric vehicles was “through the roof,” during the company’s third-quarter earnings call, even though he said the auto maker will be closing startup Argo AI, pointing to there being too many challenges to running a profitable network of self-driving vehicles.
more
https://www.marketwatch.com/story/ford-credit-eyes-1-billion-bond-funding-as-yields-hit-2009-highs-investors-weigh-recession-fears-11667327855?mod=newsviewer_click

Mish<>Hoot of the Day: Russian Oil gets to US Via Sanction Loophole

I describe the roundtrip process in which Russian oil refined in Italy makes its way to to the US. It's a real hoot

The Wall Street Journal has an interesting video that describes
How Russian Crude Avoids Sanctions and Ends Up in the US
https://www.wsj.com/video/series/in-depth-features/russian-oil-is-fueling-american-cars-via-sanctions-loophole/FB87120B-1DA2-40EA-A518-61CC9E2B409F

The Lukoil Connection

US sanctions are on crude oil, not refined products.

Lukoil, Russia's second largest oil and gas company was not sanctioned by the US.

Lukoil's refinery in Sicily is the second largest in Italy and fifth largest in Europe.

A Lukoil refinery in Italy once processed crude from multiple countries. Now it inputs are 93 percent from Russia.

After refining, the country of origin is Italy, not Russia. This is due to longstanding practice of changing the country of origin to where oil is refined.

The refined product then makes its way Exxon and Lukoil plants in New Jersey and Texas.
Lukoil still has a gas station presence in the US and it distributes products to eleven states.

Note: Most of the 230 Lukoil gas stations in the US are owned by individual American franchisees, not the oil giant itself.

Understanding the Process

The US has sanction exclusions for oil "substantially transformed into a foreign-made product."
US refiners cannot process Russian crude, but Italian refiners can, then distribute the product here.
In return, US can send its refined products to the EU, completing the round trip!
Lukoil is 6th largest refiner in Europe. It went from processing 30% Russian oil to 93%. That's a pretty big sieve even if amounts to US are small.

Conveniently timed for the US election, European bans on Lukoil do not come into play until December 5.

Unless the EU backs down, this could lead to another surge in the price of gasoline in December.

https://mishtalk.com/economics/hoot-of-the-day-russian-oil-gets-to-us-via-sanction-loophole

GSK $33.46 GSK lifts 2022 view after third quarter sales of $8.99 billion beat forecasts

Last Updated: Nov. 2, 2022 at 4:02 a.m. ET
First Published: Nov. 2, 2022 at 3:35 a.m. ET

GSK PLC on Wednesday raised its guidance for the full year and posted rising sales for the third quarter that beat expectations.

GSK expects 2022 sales to increase between 8% and 10% and adjusted operating profit to increase between 15% and 17%, excluding contributions from Covid-19 solutions. Adjusted earnings per share are expected to grow around 1% lower than operating profit
more
https://www.marketwatch.com/story/gsk-plc-raises-2022-view-271667374529?mod=newsviewer_click

6 Stocks With Healthy Dividends and Solid Returns
Published: Nov. 2, 2022 at 3:30 a.m. ET


The healthcare sector can be a good place to find solid and growing dividends, thanks partly to how durable many of these companies are through thick and thin.

The need for healthcare doesn’t go away during a recession, after all.

For this screen, Barron’s started with the highest-yielding healthcare stocks in the S&P 500 index. An additional requirement was that a company’s free-cash-flow yield exceeded its dividend yield. That suggests that a company can cover its dividend without having to borrow.

Free cash flow is basically the operating cash flow a company has left over, usually after capital expenditures. It can be used to pay dividends, repurchase shares, make acquisitions or pay down debt, among other uses.

A cash flow yield above the dividend yield suggests that a company has enough cash on hand for its dividend.

The other requirement for the screen was that a company raised its dividend in 2021 and 2020 over the previous year’s level. That’s another sign of financial strength, as plenty of U.S. companies, even large ones, had to cut or suspend their dividends early in the pandemic in 2020.

cont
https://www.marketwatch.com/articles/abbvie-gilead-stock-dividends-51667338430?mod=newsviewer_click

Thanks DG, I was ready to jump in SOFI, but went all in UBER instead.

Got one eye on it now...

<-----------UBER, I'm out of one order, was stalling, and

$30.50's enough for 1 1/2 pmkt orders!

Left a half of the second one for $31.55 sell in case red market changes

Done for the day, check back later on

~~POOF~~

<<<<<<<<<<--UBER 8% pre, 15% still a running, how about $31

<<<<<-SOFI, pulling back some now, holders jumping ship,
where will it settle?

Need to eat, will return~~

SOFI $5.44c close, surging on earnings beat and company lifts forecast



-
SoFi Technologies Inc. shares SOFI, -0.18% were surging in premarket action Tuesday after the financial-services company topped expectations with its latest results and boosted its full-year forecast. The company generated a third-quarter comprehensive loss of $75.8 million, or 9 cents a share, compared with $30.0 million, or 5 cents a share, in the year-earlier period. Analysts were modeling a 10-cent loss per share, based on four estimates. SoFi also logged adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $44.3 million, up sharply from $10.3 million a year prior, while the FactSet consensus was for $29.1 million on the non-GAAP metric. Revenue rose to $424.0 million from $272.0 million, while analysts had been looking for $399.2 million, based on a sampling of three estimates. For the full year, SoFi expects $115 million to $120 million in adjusted Ebitda, whereas its prior outlook was for $104 million to $109 million. "This marks the third quarter of a positive revision to full-year 2022 financial guidance despite extensions of the student loan moratorium throughout the year," SoFi executives said in a release. SoFi's stock has lost nearly two thirds of its value so far in 2022 as the S&P 500 SPX, -0.75% has dropped 19%.

Premarket Movers: Abiomed, SoFi Technologies, Uber Technologies

7:30 am
With U.S. stock markets set to open in two hours, Abiomed (ABMD) was up 51.8% in pre-market trading, and SoFi Technologies (SOFI) was up 14.3%. Uber Technologies (UBER), Hologic (HOLX), and Brookfield Asset Mgmt (BAM) were all posting gains of at least 6%. Catalent (CTLT) and Trex Co (TREX) had posted declines, falling 8.3% and 7.5%, respectively.

Meanwhile S&P 500 futures were up 0.86%, with futures for the Dow Jones Industrial Average rising 0.55%.

The S&P 500 and the Dow were down 0.75% and 0.39%, respectively, in the most recent regular trading session. Stocks in Asia were up overnight, with Japan's NIKKEI 225 Index up 0.33% and China's Shanghai Composite Index rising 2.62%.

White House Mulls Plan to House Haitian Migrants at Guantanamo Bay

BY TYLER DURDEN

(Isn't there some other MIGRANTS we could house there???)


https://www.zerohedge.com/geopolitical/white-house-mulls-plan-house-haitian-migrants-guantanamo-bay

NEM $42.32 Newmont Corp 3Q revenue falls on lower gold price

report

https://finance.yahoo.com/news/newmont-announces-third-quarter-2022-110000819.html

PSX $104.29 3Q earnings surge,


https://finance.yahoo.com/news/phillips-66-reports-third-quarter-110000170.html

Molson Coors TAP $50.43 misses profit est but beats on rev

Carvana shoots higher after JPM ends bearish call

HSIC $68.46 schein cuts full-year sales outlook, after report>

reports Record Non-GAAP Third-Quarter 2022 Diluted EPS Financial Results

https://finance.yahoo.com/news/henry-schein-reports-record-non-103000996.html

SEE $47.62 to buy Liquibox for $1.15 bln

https://finance.yahoo.com/news/see-acquire-liquibox-110000851.html