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HLT $130.64 Hilton Worldwide down 0.8% on report- exceeding expectations- revenue a little short
https://finance.yahoo.com/news/hilton-reports-third-quarter-results-100000334.html
Mish<>Senate Banking Committee Chairman Tells the Fed to Ignore Inflation
and Protect Jobs
Sherrod Brown, Chairman of the Senate Banking Committee, sent Fed Chair Jerome Powell a letter requesting the Fed ignore inflation to protect jobs.
MISH 10 HOURS AGO
cont
https://mishtalk.com/economics/senate-banking-committee-chairman-tells-the-fed-to-ignore-inflation-and-protect-jobs
Morning to all~~~
(Not here long again, I still have family here-and afternoon tests)
Tech Giants Weigh On US Futures: Treasuries Gain: Market Wrap
Contracts on the Nasdaq 100 fell more than 1% after disappointing quarterly updates from Microsoft Corp., Google parent Alphabet Inc. and Texas Instruments Inc. S&P 500 futures were down about 0.5%. Treasuries extended gains, with the 10-year yield falling to around 4.04%, and a gauge of the dollar declined for a second day to its lowest level in three weeks.
Stocks have been buoyed in recent days by mostly solid earnings and speculation the Federal Reserve may curb the pace of rate increases amid evidence its aggressive tightening is starting to weigh on the economy. About a quarter of S&P 500 companies have reported third-quarter results, with more than two-thirds beating analysts’ estimates despite the big-tech setback. But concern is mounting that slowing output will dent corporate profits in coming months.
“Yes we’re seeing earnings beats at the moment,” Mike Ingram, a senior market strategist at ActivTrades, said on Bloomberg TV. “But where I do start to have a bit of a problem at this juncture is that some earnings expectations going into next year are
still looking a bit punchy."
cont
https://finance.yahoo.com/news/asia-stocks-set-rise-us-224330376.html
Microsoft stock slammed by cloud-growth fears, taking Amazon down with it
Last Updated: Oct. 25, 2022 at 6:48 p.m. ET
First Published: Oct. 25, 2022 at 4:12 p.m. ET
By Jeremy C. OwensFollow
Azure grew 35%, a marked slowdown from growth of 40% the previous quarter and 50% a year ago, and forecast suggests it could fall toward 30% this quarter while overall revenue guidance misses Wall Street's expectations by more than $2 billion
Fell more than 6% after hours
more
https://www.marketwatch.com/story/microsoft-stock-slips-despite-earnings-beat-as-cloud-growth-slows-down-and-misses-projections-11666728776?mod=home-page
Later everyone, I have family company, time for breakfast,
then those dang appts of mine this week!
~POOF~~
Up>>KO $57.57 beats & raises forecast - Q3 up 10%, EPS up 7%
The MAN got lost again yesterday!~~
In the White House garden-
Called the VP president again*
(Confused, bothered and Bewildered FITS)
https://www.lbc.co.uk/news/president-biden-appears-to-get-lost-in-his-own-garden-after-white-house-event/
HAL $34.58 Halliburton Q3 EPS 60c vs 26c a year ago, consensus 56c
https://finance.yahoo.com/news/halliburton-announces-third-quarter-2022-104500706.html
Adidas ends Kanye West partnership
(about time)
The bear market blues: a diagnosis for our times
October 25, 6:09 AM ET
War. Inflation. Polarization. Appalling headlines ricochet around the internet, stocks are skidding, wealth is eroding and the mood on Wall Street has rarely been gloomier.
https://www.reuters.com/markets/europe/bear-market-blues-diagnosis-our-times-2022-10-25/
MMM $118.38 3M reports 3rd quarter results, down 1.8% pmkt
https://finance.yahoo.com/news/3m-reports-third-quarter-2022-103000375.html
GM $35.72 down 0.4% pmkt
GE $73.36 Q3 cash flow $1.19 bln: consensus $2.84.5 mln-revenue up 3%--Q3
per share loss 21c vs EPS $1.08 a year ago
Adjusted profit falls 19% on supply snarls, renewable unit weakness
https://finance.yahoo.com/news/ge-adjusted-profit-falls-19-102322135.html
Less than 1 in 100 million that Covid-19 has natural origin: New Study
A new study on the origins of the pandemic, “Endonuclease fingerprint indicates a synthetic origin of SARS-CoV2,” published on the preprint server bioRxiv, concludes that it is highly likely that the SARS-CoV-2 virus that causes COVID-19 originated in a laboratory. The odds of a natural origin, according to the study, are placed at less than 1 in 100 million
@
https://www.zerohedge.com/covid-19/less-1-100-million-chance-covid-19-has-natural-origin-new-study
SYF $33.07 Synchrony Financial -Net interest income rose ahead of views-
https://finance.yahoo.com/news/synchrony-reports-third-quarter-2022-100000048.html
PII $94.47 Polaris beats- Raises 2022 sales growth, affirms adj EPS outlook
https://finance.yahoo.com/news/polaris-third-quarter-2022-earnings-100000888.html
beats>CNC $75.81..Centene Q3 EPS $1.27 vs $0.99 a year ago--Revenue
$35.865 bln vs $32.406 a yr ago
https://finance.yahoo.com/news/centene-corporation-reports-third-quarter-100000621.html
Now is not a good time to report disappointing earnings: Morning Brief
October 25, 6:00 AM ET
This week, we’ll get Q3 earnings announcements from some big names including Microsoft (MSFT), Alphabet (GOOG, GOOGL), Meta Platforms (META), Apple (AAPL), and Amazon (AMZN).
For their investors’ sake, the companies will hopefully report some great results. Because so far, the market hasn’t been friendly to stocks reporting disappointing earnings.
Overall, Q3 earnings season hasn’t been particularly spectacular.
Through Friday, about a fifth of S&P 500 companies had reported their Q3 financial results. According to FactSet, 72% of these names reported earnings per share (EPS) that were better than analysts’ estimates. On the surface this seems like pretty good
news.
cont
https://finance.yahoo.com/news/why-now-is-not-a-good-time-to-report-disappointing-earnings-morning-brief-100014027.html
U.S. Equity Futures Decline With Earnings in Focus-
update 5:54 AM ET
https://www.bloomberg.com/news/articles/2022-10-24/global-stocks-set-to-extend-gains-china-to-fall-markets-wrap
Color is RED across the indexes~
Apple is cutting back production of iPhone 14 Plus due to weak demand
Apple Inc is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand, market research firm TrendForce said Tuesday.
The share of more expensive iPhone 14 Pro series has increased to 60% of the total output from the initially planned 50%, and it could rise to 65% in the future, the report said.
Apple did not immediately respond to a Reuters' request for comment.
The report also said that rising U.S. interest rates could crimp consumer spending, undermining the demand for iPhones in the first quarter of 2023. This could lead to a 14% year-on-year drop in production to 52 million units.
https://finance.yahoo.com/news/apple-cutting-back-production-iphone-093913625.html
SEC makes second move in a week against a once-hyped-POT-stock's
former executive
CRON $2.94 Cronos Group
SEC announces settlement with Cronos Group and its former chief commercial officer a week after accusing former NewAge CEO Brent David Willis of a 'multiyear fraud'
https://www.marketwatch.com/story/sec-makes-second-move-in-a-week-against-a-once-hyped-pot-stocks-former-executive-11666651566?mod=newsviewer_click
'From Bambi to Godzilla.' Strategist David Rosenberg Skewers the
Federal Reserve as He Sees 30% Hit to Home Prices and the S&P 500
Returning to a 2020 Low
But don''t despair. 'Permabear' Rosenberg sees a new bull market for stocks, bonds and other risk assets in 2024 when, he says, he becomes a 'permabull'
https://www.marketwatch.com/story/from-bambi-to-godzilla-strategist-david-rosenberg-skewers-the-federal-reserve-as-he-sees-a-30-hit-to-home-prices-and-the-s-p-500-returning-to-an-early-2020-low-11666627170?mod=home-page
'OORAH'~~~stand Up and Shout!
Just another year-you Old Fart!
{Miss You~xoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxo!}
HAPPY happy Birthday to you~
May you have many more~
'OORAH'
{Hugs & Kisses from afar} ;-0
Pure Political Nonsense: 'over heated rhetoric'
Have a Great Day Ladybug,
(this is my TOO busy Week) ugh
Have a great MoanDay everyone, make money!
Another busy day for me ahead
~~POOF~~
DOW up 250+, Naz ^ 66+, S&P ^31
T $17.10 AT&T upgraded to strong buy from outperform Raymond James
Few Downgrades:
Analog Devices (ADI) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $140
Danaher (DHR) downgraded to Hold from Buy at The Benchmark Company; tgt $325
FedEx (FDX) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $160
Green Plains (GPRE) downgraded to Market Perform from Outperform at BMO Capital Markets; tgt lowered to $31
MDU Resources (MDU) downgraded to Underperform from Neutral at BofA Securities; tgt lowered to $26
The Aaron's Company (AAN) downgraded to Underperform from Neutral at BofA Securities; tgt $6.50
WOLF $105.77 up 5%+, pre
Premarket Movers: Yum China Holdings, Las Vegas Sands, Wolfspeed
https://www.marketwatch.com/articles/premarket-movers-yum-china-holdings-las-vegas-sands-wolfspeed-01666611025?mod=newsviewer_click_realtime&tesla=y
HONG KONG stocks suffer worst single day rout since 2008
https://www.marketwatch.com/story/hong-kong-stocks-suffer-worst-single-day-rout-since-2008-as-xi-consolidates-power-11666596592?mod=newsviewer_click_realtime
OIL loses ground as traders weigh China demand worries
MRK $95.67 European Commission Expands Merck’s VAXNEUVANCE™ (Pneumococcal 15-valent Conjugate Vaccine) Indication to Include Infants, Children and Adolescents
https://finance.yahoo.com/news/european-commission-expands-merck-vaxneuvance-104500770.html
SCHL $33.63 Scholastic shares rise on $75 M Dutch Auction buyback
Company's common stock through a modified "Dutch Auction" tender offer ("Offer"), at an anticipated cash purchase price per share of not less than $35.00 per share and not more than $40.00 per share, less any applicable withholding taxes and without interest
https://finance.yahoo.com/news/scholastic-announces-intent-repurchase-75-110000737.html
JPMorgan president says a recession may be price to pay to beat inflation, market bottom not in yet
6:57 AM ET
Key Points
While there is a growing chorus of voices who say that the Federal Reserve should slow or halt its rate increases, JPMorgan President Daniel Pinto is not in that camp.
“I think putting inflation back in a box is very important,” Pinto told CNBC in an interview. “If it causes a slightly deeper recession for a period of time, that is the price we have to pay.”
“I don’t think we’ve seen the bottom of the market yet,” he said, adding that corporate earnings expectations were still too high.
Pinto, who leads the world’s biggest investment bank by revenue, called cryptocurrencies a small asset class that is “kind of irrelevant” at the moment.
Cont
https://www.cnbc.com/2022/10/24/jpmorgan-president-daniel-pinto-says-a-recession-is-likely-and-markets-may-fall-further-as-the-fed-raises-rates-.html
NIO $11.21 dives below $10
META price target cut to $180 from $225 by Mizuho