Good morning traders of the r/StockMarket sub! Welcome to Friday! Here are your stock movers & news this AM-
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Frontrunning: October 12th
- Rescuers will pick through the rubble of ravaged beach communities searching for survivors today after Michael, one of the most powerful hurricanes in U.S. history, slammed into the Florida Panhandle, killing at least seven people. (Reuters)
- After Michael's rampage: There's 'Nothing left' (AP)
- NBC has learned that lawyers for President Donald Trump are preparing written responses to questions sent by special counsel Robert Mueller. The possibility of a sit-down interview with the president is reportedly still being debated.
- Sources told CNBC that Dina Powell, a Goldman Sachs (GS) executive, had told friends that she was leaning toward staying at the firm instead of becoming President Trump's next U.S. ambassador to the United Nations. (CNBC)
- Rapper and entrepreneur Kanye West spent a stunning and surreal half hour talking to Trump in the Oval Office yesterday afternoon. He was surrounded by White House aides, reporters and former NFL star Jim Brown. (CNBC)
- U.S. officials imposed new restrictions on nuclear exports to China. That happened after officials concluded that China was seeking to illicitly acquire the technology to bolster its military and to undermine U.S. industry. (WSJ)
- Trump's top economic advisor Larry Kudlow said the White House has taken steps toward setting up a meeting between Trump and Chinese President Xi Jinping as the world's two largest economies clash over trade. (CNBC)
- Trade war could cut China's growth by nearly 2 percentage points over two years: IMF (CNBC)
- Tesla (TSLA) said orders for its vehicles placed by Oct. 15 will still be eligible for a full $7,500 tax credit. The credit begins to reduce at the conclusion of the quarter after the three-month period in which an alternative fuel carmaker sells 200,000 vehicles. (Reuters)
- The U.S. Postal Service has proposed a 9 to 12 percent increase in fees for the shipping service used by Amazon (AMZN). The move happens just months Trump criticized the USPS, saying it gives Amazon too good of a deal. (CNBC)
- Facebook (FB) said it has taken down hundreds of U.S. pages and accounts that were spreading false or misleading political content. The social network said the accounts broke rules against "spam" and "coordinated inauthentic behavior." (WSJ)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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NEXT WEEK'S ECONOMIC CALENDAR:
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NEXT WEEK'S UPCOMING IPO'S:
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NEXT WEEK'S EARNINGS CALENDAR:
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($JPM $C $WFC $PNC $FRC $EXFO)
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NONE.
EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
([CLICK HERE FOR THIS AFTERNOON'S AFTER-MARKET EARNINGS RELEASES!]())
NONE.
THIS MORNING'S ANALYST UPGRADES/DOWNGRADES:
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THIS MORNING'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #3!)
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THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- JPM
- SQ
- C
- WFC
- NFLX
- SPY
- APH.CA
- PNC
- SNAP
- AMZN
- SLV
- TVIX
- CORI
- SVXY
- UVXY
- URI
- IOVA
- PTLA
- VXX
- REGN
- FRC
- RH
- XLF
- EL
- QQQ
- HAL
- IWM
- GLD
- SDS
- HEAR
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
JPMorgan Chase – The bank reported quarterly profit of $2.34 per share, beating the consensus estimate of $2.25 a share. Revenue also beat Street forecasts. A stronger consumer business helped negate weaker results in trading operations.
STOCK SYMBOL: JPM
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Citigroup – Citi earned $1.73 per share for the third quarter, four cents above estimates. Revenue did miss forecasts, but the bank's bottom line benefited from lower expenses.
STOCK SYMBOL: C
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Wells Fargo – Wells Fargo fell a penny shy of estimates with adjusted quarterly profit of $1.16 per share, while the bank's revenue did come in above forecast. Wells Fargo also said it was making progress in rebuilding customer trust.
STOCK SYMBOL: WFC
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PNC Financial – PNC topped estimates by 10 cents a share, with quarterly profit of $2.82. Revenue for the banking company also came in above analysts' forecasts. Results were helped by higher interest income and a drop in provisions for credit losses.
STOCK SYMBOL: PNC
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Microsoft – Macquarie upgraded the stock to "outperform" from "neutral," noting the pullback of the past two sessions and Microsoft's ongoing earnings power.
STOCK SYMBOL: MSFT
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Estee Lauder – The cosmetics maker was downgraded to "neutral" from "overweight" at JPMorgan Chase, which is concerned about the impact of the US trade dispute with China on Estee Lauder's business.
STOCK SYMBOL: EL
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Intel – Intel has reduced its stake in supplier ASML to just below three percent. Intel had originally bought a stake in 2012, along with two other semiconductor companies, to help fund ASML's next-generation lithography systems.
STOCK SYMBOL: INTC
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Tesla – Tesla said orders for its electric vehicles placed by October 15 will still be eligible for a full $7,500 tax credit. The credit begins to reduce at the conclusion of the quarter after the three-month period in which an alternative fuel carmaker sells 200,000 vehicles.
STOCK SYMBOL: TSLA
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AbbVie – The drugmaker resolved a patent dispute with Sandoz over its best-selling Humira drug. Sandoz is the generic drug unit of Switzerland's Novartis. Sandoz will receive a license to sell Humira in most EU countries.
STOCK SYMBOL: ABBV
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Netflix – Netflix was upgraded to "buy" from "neutral" at Citi, which said this week's sell-off has pushed the stock down to attractive levels considering its strong fundamentals and highly recurring subscription revenue.
STOCK SYMBOL: NFLX
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NiSource – NiSource affiliate Columbia Gas was blamed for a recent deadly Massachusetts gas explosion. The National Transportation Safety Board said Columbia did not require repair crews to relocate pressure sensors while doing work on natural gas pipelines.
STOCK SYMBOL: NI
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Public Storage – The self-storage company's European affiliate Shurgard priced its initial public offering in Europe at the bottom end of the projected price range. Shurgard is Europe's largest self-storage provider and is 49 percent owned by US-based Public Storage.
STOCK SYMBOL: PSA
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RH – The furniture and household goods retailer was upgraded to "buy" from "hold" at Stifel Nicolaus, which points to valuation as well as increased brand strength for the Restoration Hardware parent.
STOCK SYMBOL: RH
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Snap, Twitter – Snap was upgraded to "buy" from "hold" and Twitter was upgraded to "hold" from "sell" at Pivotal Research, with both calls partly based on stock price drops over the past two days. Pivotal notes that the Snapchat parent does have a widening user base and that the company can improve monetization.
STOCK SYMBOL: SNAP
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STOCK SYMBOL: TWTR
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3M – Credit Suisse initiated coverage of the diversified products manufacturer with an "outperform" rating, citing a strong balance sheet and stable global industrial production growth, among other factors.
STOCK SYMBOL: MMM
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. /u/bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What is on everyone's radar for today's trading day ahead here at r/StockMarket?
I hope you all have an excellent trading day ahead today on this Friday, October 12th, 2018! :)
Submitted October 12, 2018 at 09:02AM by bigbear0083 https://ift.tt/2Ef6qsz
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