Good morning traders of the r/StockMarket sub! Happy Monday! Hope you all had a nice relaxing weekend in here and are ready for a flurry of earnings this week! Here are your Monday morning stock market movers & news-
(FULL SOURCE)
Frontrunning: October 17
- Bonds Selloff Spreads on Inflation Concern; Stocks Fall With Oil (BBG)
- Trump charges U.S. election results being rigged 'at many polling places' (Reuters)
- CNN’s Stelter Blames Firebombing of NC Republican Office on Trump's 'Over Heated' Rhetoric (Newsbusters)
- Britain, France seek EU condemnation of Russia over Syria (Reuters)
- Inside the Secret Society of Wall Street's Top In-House Lawyers (BBG)
- How Caterpillar’s Big Bet Backfired (WSJ)
- Lack of new blood casts doubt over Wells Fargo's change plan (Reuters)
- Iran Boosting Oil Production in Possible Hitch to OPEC Deal (BBG)
- OPEC’s Oil U-Turn Missed Looming Peak Demand (BBG)
- Crown Shares Post Record Fall as China Detains Casino Staff (BBG)
- Samsung Self-Tested Batteries in Galaxy Note 7 Phone (WSJ)
- Big Winner From London’s Brexit Exodus Isn’t Even in Europe (BBG)
- China 2016 economic growth seen slowing to 6.6 pct, 6.5 pct in 2017 (Reuters)
- One of China's Poorest Provinces Puts Nation on Track to Beat 6.5% Growth (BBG)
- ECB’s QE programme strains eurozone repo market (FT)
- Capital One US Delinquencies at Multiyear High (WSJ)
- Dumber Stock Market Theory Gains Traction in Earnings Day Impact (BBG)
- China Foreign Currency Shares Plunge in Sudden Afternoon Selloff (BBG)
- China launches longest manned space mission (Reuters)
- UK prosecutors question Barclays executives for Libor probe (FT)
STOCK FUTURES NOW:
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MONDAY'S MARKET HEAT MAP:
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MONDAY'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:
- BAC
- HAS
- OMER
- MCD
- TWX
- NFLX
- TCK
- KITE
- XLK
- XLI
- WBA
- P
- DNKN
- SGY
- BZUN
- CYH
- IEF
- CELG
- XLF
- CLR
- ESV
- MRO
- BOFI
- XLE
- IBM
THIS MORNING'S STOCK NEWS MOVERS: BAC, HAS, SVU, TSLA, DB, MCD, MENT, STZ, WBA, WFC, DNKN, GRPN, WHR
(source: cnbc.com)
Bank of America — Bank of America earned 41 cents per share for its latest quarter, beating estimates by seven cents, with revenue also beating forecasts. Strong trading results helped make up for weakness in some of the bank's consumer businesses.
STOCK SYMBOL: BAC
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Hasbro — The toymaker reported quarterly profit of $2.03 per share, easily beating estimates of $1.74, with revenue also topping analyst estimates. Hasbro did especially well in its partnered offerings, such as the Disney Princess and "Frozen" product lines.
STOCK SYMBOL: HAS
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Supervalu — The supermarket operator is selling its Save-A-Lot business to an affiliate of Canadian private equity firm Onex Corporation for nearly $1.37 billion.
STOCK SYMBOL: SVU
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Tesla — German officials are asking the automaker to stop including the Autopilot function in its ads. The country's transport minister is concerned that drivers might feel their attention is not needed while behind the wheel of the vehicle. Separately, a product announcement scheduled for today has been pushed back to Wednesday, with CEO Elon Musk tweeting that the unnamed new product needed a few more days of refinement.
STOCK SYMBOL: TSLA
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Deutsche Bank — Deutsche Bank is considering changes to its U.S. strategy, according to Reuters. The bank is not likely to abandon the U.S. market, but it may considering scaling down its activities here. Deutsche Bank is currently fighting a proposed $14 billion Justice Department fine over financial crisis era mortgage bond sales.
STOCK SYMBOL: DB
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McDonald's — The restaurant chain is losing a number of senior executives, including chief field officer Karen King and senior vice president Erik Hess. That comes on the heels of other departures, including soon-to-retire McDonald's USA President Mike Andres, chief administrative officer Pete Bensen, and high-growth markets division chief David Hoffmann.
STOCK SYMBOL: MCD
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Mentor Graphics — Mentor has hired Bank of America to explore strategic alternatives including a potential sale, according to Reuters. Activist hedge fund Elliott Management has an 8.1 percent stake in the software maker and feels Mentor's shares are significantly undervalued.
STOCK SYMBOL: MENT
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Constellation Brands — The spirits maker is near a deal to sell its Canadian wine business to the Ontario Teachers' Pension Plan for about $760 million, according to a Wall Street Journal report.
STOCK SYMBOL: STZ
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Walgreens Boots Alliance — Walgreens has been upgraded to "buy" from "hold" at Jefferies, which has also increased its price target for the drug store operator's stock to $95 per share from $87. Jefferies feels investors are underestimating both the fundamental positives as well as the incremental benefits that will be provided by its acquisition of Rite-Aid.
STOCK SYMBOL: WBA
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Wells Fargo — Wells Fargo was downgraded to "market perform" from "outperform" at Keefe Bruyette & Woods, which cut its price target to $48 from $57. Keefe Bruyette does not feel the price is low enough to reflect the uncertainty surrounding the change in the bank's sales practices.
STOCK SYMBOL: WFC
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Dunkin' Brands — RBC downgraded Dunkin' to "sector perform" from "outperform," saying the stock's price already reflects the donut chain's acceleration in sales, the introduction of new beverages, and the launch of its "On-The-Go" mobile ordering platform.
STOCK SYMBOL: DNKN
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Groupon — Wedbush upgraded Groupon to "outperform" from "neutral," as the site sees increased customer traffic and expands its deal inventory.
STOCK SYMBOL: GRPN
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Whirlpool — MKM downgraded the appliance maker to "neutral" from "buy," based primarily on a rise in steel prices.
STOCK SYMBOL: WHR
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DISCUSS!
What is on everyone's radar for today's trading day ahead here at r/StockMarket?
Hope you all have a great trading day ahead here on this Monday!
Submitted October 17, 2016 at 08:29AM by bigbear0083 http://ift.tt/2duYDr7
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