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.
