Good morning traders of the r/StockMarket sub! Happy Tuesday! Here are your stock market movers & news on this Tuesday morning-
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Frontrunning: October 11
- Samsung scraps Note 7 (Reuters)
- Note 7 fiasco could burn a $17 billion hole in Samsung accounts (Reuters)
- Trump's struggles may depress Democratic voter turnout (Reuters)
- Major Investor Sues Theranos (WSJ)
- S. Africa’s Gordhan to Be Charged; Rand Plunges Most Since June (BBG)
- Oil price falls back from one-year highs, hit by OPEC deal concerns (Reuters)
- Saudi Capital Spending to Drop 71% in 2016 Amid Low Oil Prices (BBG)
- How Julian Assange Turned WikiLeaks Into Trump’s Best Friend (BBG)
- Rising OPEC Oil Output Shows Challenge of Curbing Production (WSJ)
- Hundreds stranded in North Carolina floods after Hurricane Matthew (Reuters)
- Didi, China’s Uber, Navigates Rough Regulatory Road (WSJ)
- Apple Pay, Now 2 Years Old, Looks for Ways to Be More Useful (BBG)
- British lawmaker likens Russia's behavior in Syria to that of Nazis (Reuters)
- Bankers' love of London complicates Brexit relocation plans (Reuters)
- Pound Slides a Fourth Day as Analysts Ax Forecasts (BBG)
- Now Your Boss Can Buy Back Your Vacation Days (BBG)
- Facebook Rolls Out Workplace Chat Tool (WSJ)
- Dubai Kicks Off Construction of World’s Tallest Building—Again (BBG)
- Swiss Regulators Target Banks in 1MDB Crackdown (BBG)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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TODAY'S EARNINGS CALENDAR:
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THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- AAPL
- AA
- TWLO
- DUST
- ILMN
- FAST
- LPCN
- OZRK
- DWTI
- USO
- FNSR
- CAT
- RDWR
- MB
- TPB
- RDUS
- STX
- MYGN
- MDGN
- SCHN
- AVP
- NSC
- SUPN
- PBF
THIS MORNING'S STOCK NEWS MOVERS: STJ, AA, YHOO, VZ, TWTR, CAG, ILMN, AAPL, CAT, NKE, STX, TWLO
St. Jude Medical — The stock is under pressure following a report by short seller Muddy Waters, which posted an alleged medical advisory on premature battery depletion in several St. Jude devices.
STOCK SYMBOL: STJ
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Alcoa — Alcoa posted earnings of 32 cents a share, missing analysts' estimates of 35 cents a share. Revenue also fell short of expectations. The report comes before Alcoa plans to split into two independent, publicly traded companies.
STOCK SYMBOL: AA
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Yahoo — Verizon CEO Lowell McAdam told a California technology conference that his company had no plans to walk away from its planned acquisition of Yahoo's core internet assets. He did say it's possible that the $4.8 billion price tag could be renegotiated in the wake of the recently revealed massive 2014 Yahoo security breach.
STOCK SYMBOL: YHOO
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Twitter — Twitter was upgraded to "hold" from "sell" at Evercore, which based its move on the recent plunge in the share price following reduced prospects for a Twitter sale.
STOCK SYMBOL: TWTR
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ConAgra — The food producer's board approved a $1.25 billion stock buyback program, and also said the spin-off of its Lamb Weston unit would have a record date of November 1 and a distribution date of November 9.
STOCK SYMBOL: CAG
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Illumina — Illumina cut its revenue guidance because of a bigger-than-expected decline in sales of the company's gene sequencing tools.
STOCK SYMBOL: ILMN
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UBS — UBS was among a handful of banks fined over alleged money laundering activities surrounding Malaysian sovereign investment fund 1MDB. Singapore's monetary authority also fined DBS (Development Bank of Singapore) and shutdown the Singapore operations of Switzerland's Falcon Private Bank.
STOCK SYMBOL: UBS
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Fiat Chrysler, Cummins — Fiat Chrysler and Cummins are at odds over the $200 million estimated cost of a recall involving 130,000 Dodge Ram pickup trucks equipped with Cummins-made diesel engines. The recall occurred because the engines may exceed U.S. pollution limits. The automaker has sued Cummins for the $60 million it has spent so fair repairing 42,000 of the trucks involved in the recall. Separately, Cummins was upgraded to "buy" from "neutral" and added to the "Conviction Buy" list at Goldman Sachs.
STOCK SYMBOL: FCA
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STOCK SYMBOL: CMI
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CBS — Chief Executive Officer Leslie Moonves would want autonomy in leading the company if a merger with Viacom occurs, according to sources quoted by Reuters.
STOCK SYMBOL: CBS
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Apple — Apple remains a stock to watch on the mounting mobile phone problems suffered by competitor Samsung, which has now halted all production of Galaxy Note 7 phones amid reports that it may discontinue that model altogether.
STOCK SYMBOL: AAPL
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Caterpillar — Caterpillar was upgraded to "buy" from "neutral" at Goldman Sachs, on optimism about further gains for the heavy equipment maker. Caterpillar is already the Dow industrial average's best year-to-date performer with a gain of nearly 30 percent. Goldman sees the potential for higher profit margins during the current business cycle.
STOCK SYMBOL: CAT
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Nike — Susquehanna Financial initiated coverage on the athletic footwear and apparel maker with a "positive" rating, saying a 16 percent pullback this year represents a rare opportunity to buy a "world class equity" in a business that's in a favorable cycle.
STOCK SYMBOL: NKE
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Seagate Technology — JPMorgan Chase upgraded the disk drive maker's stock to "neutral" from "underweight," owing to a slowing decline in sales of server drives as well as reduced exposure for Seagate to the personal computer market.
STOCK SYMBOL: STX
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Twilio — The cloud computing company issued preliminary third quarter sales numbers that comes in above the Street's current forecast, helping the stock wipe out part of a Monday loss that followed news of a follow-on stock offering.
STOCK SYMBOL: TWLO
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Good trading day to everyone in here at r/StockMarket on this Tuesday! :)
Submitted October 11, 2016 at 08:27AM by bigbear0083 http://ift.tt/2d9H3pb
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