Finance news

• S&P 500 ends at highest in two months; Alphabet up after hours

  22-10-2015 23:58 via news.yahoo.com
  
  The S&P 500 closed at its highest in two months on Thursday as stronger-than-expected earnings from several top companies, including McDonald's, relieved investors' concerns about the profit outlook. Nasdaq 100 futures jumped after the close as well, and were up about 17 percent from the 2015 intrady low hit on Aug. 24. During the regular session, McDonald's shares jumped 8.1 percent to $110.87, giving the Dow its biggest boost, after its quarterly results beat estimates as demand recovered
  
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• SEC meted out $4.2 billion in sanctions in 2015 fiscal year

  22-10-2015 23:57
  
  (Reuters) - U.S. Securities and Exchange Commission enforcement actions resulted in $4.2 billion in sanctions in fiscal 2015, the commission said on Thursday, about the same level as the penalties...
  
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• Caesars creditors accuse U.S. bankruptcy lawyer of misleading judge

  22-10-2015 23:55
  CHICAGO/WILMINGTON, Del, Oct 22 (Reuters) - One of the top
  restructuring attorneys in America allegedly misled a judge and
  should be disqualified from handling parts of the huge Caesars
  Entertainment...
  
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• Alphabet, formerly Google, sets share buyback, shares jump

  22-10-2015 23:47 via news.yahoo.com
  
  Alphabet Inc , known until recently as Google Inc, introduced its first share buyback and beat Wall Street's profit forecast on Thursday, sending its stock to its highest-ever level in after-hours trading. The company's bottom line was boosted by strong gains in mobile search and YouTube advertising, while it kept a tight lid on expenses. Investors have been pressing the company to return more of its cash pile, but the announcement that Alphabet would buy back up to $5.09 billion of its Class C
  
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• Bankruptcy and statehood: two hot topics at Puerto Rico hearings

  22-10-2015 23:45
  SAN JUAN, Oct 22 (Reuters) - As Puerto Rico desperately
  seeks to stabilize its crumbling economy, two issues have come
  to the fore: the immediate question of whether it can file for
  bankruptcy, and...
  
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• Google's 3Q earnings surge 45 pct, Alphabet stock soars

  22-10-2015 23:24 via news.yahoo.com
  
  SAN FRANCISCO (AP) — Google's third-quarter report is getting an "A'' from investors as the Internet search leader enters a new era under Alphabet, its new parent company.
  
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• U.S. muni bond funds post $240.7 million in inflows: Lipper

  22-10-2015 23:22
  U.S. municipal bond funds reported $240.7 million of net inflows in the week ended Oct. 21, compared with $520.8 million in inflows in the previous week, according to data released by Lipper on...
  
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• Obama vetoes defense bill, sends it back to Congress

  22-10-2015 23:22 via news.yahoo.com
  
  By Patricia Zengerle and Julia Edwards WASHINGTON (Reuters) - President Barack Obama vetoed a sweeping $612 billion defense policy bill on Thursday, returning the measure to the Republican-controlled Congress because of the way it uses money meant for war spending to avoid automatic budget cuts to military programs. "I'm going to be sending it back to Congress and my message to them is very simple: 'Let's do this right,'" Obama told reporters. Let's have a budget that properly funds our national
  
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• Printer maker Lexmark exploring possible sale: WSJ

  22-10-2015 23:17
  
  (Reuters) - Printer maker Lexmark International Incis reviewing strategic options including a sale, the Wall Street Journal reported on Thursday.
  
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• Valeant vows to refute 'phantom sales' allegations

  22-10-2015 23:11
  
  TORONTO/NEW YORK (Reuters) - Valeant Pharmaceuticals International Inc moved to reassure investors on Thursday after being accused of using specialty pharmacies to inflate revenue, and said it would...
  
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• Portugal's president names centre-right PM to form government

  22-10-2015 23:06 via news.yahoo.com
  
  By Axel Bugge and Sergio Goncalves LISBON (Reuters) - Portugal's president put coalition leader Pedro Passos Coelho back as prime minister on Thursday, igniting protests from leftist parties that could quickly challenge a new centre-right government in parliament where they have majority control. Passos Coelho's coalition won the most votes in an Oct. 4 general election but fell short of a majority in parliament, leading the Socialist opposition to try to form an alternative leftist government.
  
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• TSX climbs as ECB stimulus, oil prices support

  22-10-2015 22:50 via news.yahoo.com
  
  (Reuters) - Canada's main stock index rose on Thursday as news of a potential monetary stimulus initiative in Europe and higher oil prices supported gains in every major sector. The European Central Bank said it would be open to more interest rate cuts in order to stimulate the economy. Investors were also weighing the start of earnings reporting season with results from companies including Teck Resources and Rogers Communications .
  
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• S&P 500 ends at highest in two months on upbeat earnings

  22-10-2015 22:40 via news.yahoo.com
  
  The S&P 500 closed at its highest in two months on Thursday as stronger-than-expected earnings from several top companies, including McDonald's, relieved investors' concerns about the profit outlook. Adding to the day's optimism, ECB President Mario Draghi said the bank could extend its stimulus program beyond 2016 to boost euro zone growth and boost inflation closer to 2 percent. McDonald's shares jumped 8.1 percent to $110.87, giving the Dow its biggest boost, after its quarterly results b
  
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• Obama vetoes defense bill; tells Congress 'Let's do this right'

  22-10-2015 22:35 via news.yahoo.com
  
  President Barack Obama officially vetoed the $612 billion annual defense authorization bill on Thursday, returning the measure to Congress because of the way it uses money meant for war spending to avoid automatic budget cuts to military programs. "I'm going to be sending it back to Congress and my message to them is very simple: 'Let's do this right,'" Obama told reporters. Let's have a budget that properly funds our national security as well as economic security," he said.
  
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• TSX gains 173 points on earnings reports, oil prices

  22-10-2015 22:29 via news.yahoo.com
  
  Toronto's main stock index racked up triple-digit gains on Thursday, encouraged by the beginning of earnings season and a rise in oil prices. The TSX was up 173 points to 13,878 at the close, a solid gain that came despite a steep downturn in shares of Quebec drugs maker Valeant. The TSX also was buoyed by oil prices, which rose after three days of declines.
  
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• TSX gains 170 points on earnings reports, oil prices

  22-10-2015 22:29 via news.yahoo.com
  
  Toronto's main stock index racked up triple-digit gains on Thursday, encouraged by the beginning of earnings season and a rise in oil prices. The TSX was up 170 points to 13,874 in late afternoon, a solid gain that came despite a steep downturn in shares of Quebec drugs maker Valeant. The TSX also was buoyed by oil prices, which rose after three days of declines.
  
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• Debt-ceiling debate could put money funds into uncharted waters

  22-10-2015 22:11
  BOSTON/NEW YORK (Reuters) - A failure by Washington leaders to raise the federal debt ceiling by next month could test whether new regulations have made money market mutual funds more robust.
  
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• Italy's Poste Italiane sale set to deliver 3.4 billion euros: sources

  22-10-2015 21:55
  
  MILAN (Reuters) - Italy is set to raise up to 3.4 billion euros ($3.8 billion) from a stock market listing of state-owned post office operator Poste Italiane, sources close to the matter said on...
  
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• Oil prices revive after battering

  22-10-2015 21:43 via news.yahoo.com
  
  US benchmark West Texas Intermediate for delivery in December rose 18 cents to $45.38 a barrel on the New York Mercantile Exchange. "At least in the near term, the market is testing the argument that the decline in product inventories for last week was more critical than the build in crude oil, although we think much of the recovery is more technical in nature," said Tim Evans of Citi Futures. "Worries about the health of the Chinese economy continue to batter commodities prices.
  
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• Average US rate on 30-year mortgage falls to 3.79 percent

  22-10-2015 21:43 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week, marking a 13th straight week below 4 percent and offering an enticement for potential homebuyers.
  
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• Oil edges up on gasoline, Wall Street; stockpile worry limits gains

  22-10-2015 21:40 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Crude oil inched higher on Thursday as gains prompted by a rally in gasoline and technical charts calling for higher prices were capped by worries about high U.S. crude inventories. A surge in Wall Street share prices also lent support to oil despite pressure exerted by the dollar's rise to a three-week high. Crude prices rose more in early trading as gasoline rallied up to 3 percent as traders re-evaluated Wednesday's U.S. government data showing a 1.5 mi
  
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• Caterpillar forecasts lower profit, sales in 2016

  22-10-2015 21:35 via news.yahoo.com
  
  By Meredith Davis CHICAGO (Reuters) - Caterpillar Inc on Thursday forecast a drop in 2016 sales and profit as the outlook for global mining, drilling and construction activity remained bleak, and posted lower third-quarter earnings. The world's largest construction and mining company, which last month announced a major restructuring, said slower Chinese economic growth and Brazil's recession dented company revenues as sales in all three of its major business segments fell. While Caterpillar expe
  
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• BlackRock's Rieder sees European bonds as attractive

  22-10-2015 21:29
  NEW YORK (Reuters) - Top BlackRock Inc bond fund manager Rick Rieder said he sees some European bonds as increasingly attractive after central bankers there disclosed they have weighed another...
  
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• Interval Leisure in talks to buy Starwood's vacation ownership unit: WSJ

  22-10-2015 20:52
  (Reuters) - Interval Leisure Group Incis in talks to buy Starwood Hotels & Resorts Worldwide Inc'svacation ownership business, the Wall Street Journal reported on Thursday.
  
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• Perrigo plans job cuts, share buyback as Mylan deadline looms

  22-10-2015 20:12
  (Reuters) - Perrigo Co Plcsaid it would lay off 6 percent of its global workforce and buy back shares worth $2 billion to boost earnings, as the generic drug maker looks to convince investors to...
  
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• Liberty Global in talks to buy Cable & Wireless

  22-10-2015 19:33
  
  (Reuters) - Liberty Global Plcis in talks with Cable & Wireless Communications Plcabout a potential deal to unite two companies backed by billionaire cable pioneer John Malone and extend...
  
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• U.S. sells 30-year TIPS to strong demand

  22-10-2015 19:31
  NEW YORK (Reuters) - The U.S. Treasury on Thursday sold $7 billion in 30-year Treasury Inflation Protected Securities to strong demand at a yield of 1.200 percent, which was the highest level since...
  
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• Strong company earnings send stock indexes sharply higher

  22-10-2015 19:29 via news.yahoo.com
  
  Encouraging earnings from McDonald's, eBay and other companies sent U.S. stocks sharply higher in afternoon trading Thursday as the market rebounds after a two-day slide. Investors also welcomed news that the European Central Bank will consider expanding its stimulus program in December. Industrials stocks were among the biggest gainers.
  
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• David Bennett named deputy chair of Clydesdale Bank's board

  22-10-2015 19:29
  (Reuters) - Scottish bank Clydesdale Bank Plc [IPO-CLBP.L] said it appointed David Bennett as deputy chairman and a non-executive director.
  
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• Teck Resources stock up as operating earnings outshine writedown

  22-10-2015 19:20 via news.yahoo.com
  
  Teck Resources Ltd reported stronger-than-expected operating earnings on Thursday, and its share price rose even though weak commodity prices prompted the Canadian miner to write down the value of its coal and other assets by C$2.2 billion ($1.68 billion). Teck, the largest producer of steel-making coal in North America, said coal demand from China was still dropping, weighing on prices despite production cuts around the world. Coal producers globally have announced about 50 million tonnes of ou
  
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• Caterpillar shares rally despite cuts to 2015 profit outlook, 2016 sales

  22-10-2015 19:04 via news.yahoo.com
  
  By Meredith Davis CHICAGO (Reuters) - Caterpillar Inc posted lower quarterly profits and cut its outlook, weakened by slower Chinese economic growth and Brazil's recession, but shares rallied on relief that the report was largely consistent with last month’s warning and restructuring announcement. "The results were in line with the pre-announcement and not worse," said Longbow Research analyst Eli Lustgarten, commenting on the jump in shares, up 4.3 percent in midday trade. The world's lar
  
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• UPDATE 4-McDonald's stock hits record high as turnaround takes hold

  22-10-2015 19:01
  * U.S. same-restaurant sales rise for first time in two years
  
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• S&P, Dow hit nine-week highs after ECB comments, results

  22-10-2015 19:01 via news.yahoo.com
  
  (Reuters) - The S&P 500 and the Dow rallied to nine-week highs and were poised for their best month since October 2011, on strong corporate results and cues from the European Central Bank about extending its stimulus program.
  
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• US STOCKS-S&P, Dow hit 9-week highs after ECB comments, results

  22-10-2015 19:00
  * Indexes up: Dow 1.54 pct, S&P 1.46 pct, Nasdaq 1.5 pct (Updates to early afternoon)
  
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• CORRECTED-Russia's Gazprom expects positive cash flow in 2015 - Ifax

  22-10-2015 18:49
  MOSCOW, Oct 22 (Reuters) - Russian natural gas producer Gazprom expects to generate positive cash flow in 2015, Interfax quoted the company's chief financial officer as saying on Thursday.
  
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• BRIEF-Saft Groupe signs multi-million dollar deal with Lockheed Martin

  22-10-2015 18:45
  * Signs multi-million dollar long term agreement with Lockheed Martin for telecommunications satellites
  
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• UPDATE 1-ECB easing signals knock euro, lift markets

  22-10-2015 18:28
  * Market effects felt in Switzerland and Scandinavia (Updates prices for close)
  
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• European shares leap as ECB keeps up monetary support programme

  22-10-2015 18:28
  LONDON, Oct 22 (Reuters) - European stocks rallied on Thursday after the European Central Bank decided to stick with its monetary support programme and reassess in December whether further measures...
  
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• UPDATE 1-Cable & Wireless says in talks with Liberty Global

  22-10-2015 18:23
  Oct 22 (Reuters) - Cable & Wireless Communications Plc said it was in talks that could result in a takeover offer from Liberty Global Plc, the cable company backed by billionaire John Malone.
  
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• UPDATE 1-Merrimack Pharma's cancer drug wins FDA approval

  22-10-2015 18:21
  Oct 22 (Reuters) - Merrimack Pharmaceutical Inc's pancreatic cancer therapy, Onivyde, became its first ever drug to win approval from the U.S. Food and Drug Administration on Thursday.
  
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• European stocks rise as ECB hints at more stimulus this year

  22-10-2015 18:20 via news.yahoo.com
  
  Europe's main stock markets rose and the euro slumped on Thursday after the European Central Bank said it would review its monetary policy stance in December, raising expectations of more economic stimulus in the eurozone. "The degree of monetary policy accommodation will need to be re-examined at our December meeting," ECB chief Mario Draghi told a news conference, after the guardian of the euro held its key interest rate unchanged at 0.05 percent. For now, the ECB council meeting in Malta on T
  
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• When using Airbnb makes sense for business travel: 6 things to consider

  22-10-2015 18:17 via news.yahoo.com
  
  In the age of the sharing economy, Airbnb provides an alternative way to travel-offering more flexibility and a better chance to learn about new cities and communities.
  
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• Strong company earnings send stock indexes higher

  22-10-2015 18:17 via news.yahoo.com
  
  Encouraging earnings from McDonald's, eBay and other companies sent U.S. stocks higher in midday trading Thursday. The market also got a lift from a rally in European stocks after the head of the European Central Bank said the bank will consider expanding its stimulus program in December. Industrials stocks were among the biggest gainers.
  
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• Oil rises on support from gasoline, Wall Street strength

  22-10-2015 18:13 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Crude oil prices inched up on Thursday, supported by a rally in gasoline and technical charts suggesting a price rebound, although higher inventories limited gains for crude. A two-week high in the dollar also reduced some of the upward potential for crude, even as a surge in share prices on Wall Street bolstered sentiment, oil dealers said. U.S. crude's West Texas Intermediate (WTI) oil also rose by 30 cents to $45.50.
  
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• UPDATE 5-ECB to decide in December if economy needs bigger kick

  22-10-2015 18:10
  * Urges governments to use fiscal policy (Adds base effect)
  
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• BRIEF-Blackstone to sell 3.4 percent of Gecina - bookrunner

  22-10-2015 18:09
  * Plans to sell 3.4 percent of ordinary share capital of gecina - bookrunner
  
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• UPDATE 1-Bank of England's Carney accused of wading into politics with EU speech

  22-10-2015 18:07
  LONDON, Oct 22 (Reuters) - A prominent campaigner for a British exit from the European Union accused Bank of England Governor Mark Carney of venturing into politics after the central bank chief...
  
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• Argentine leader's welfare programs help her party in election

  22-10-2015 18:07 via news.yahoo.com
  
  By Hugh Bronstein ESCOBAR, Argentina (Reuters) - Argentina's inflation rate is soaring, state controls shackle the economy and its international bonds are in default, but the ruling party's candidate is still favored to win the presidential election on Sunday. President Cristina Fernandez, a divisive figure loved by many for strengthening the social safety net and vilified by others for her interventionist economic policies, remains Argentina's most popular politician. Scioli favors more orthodo
  
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• UPDATE 2-Caterpillar shares rally despite cuts to 2015 profit outlook, 2016 sales

  22-10-2015 18:06
  CHICAGO, Oct 22 (Reuters) - Caterpillar Inc posted lower quarterly profits and cut its outlook, weakened by slower Chinese economic growth and Brazil's recession, but shares rallied on relief that...
  
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• Controversial cyber security bill advances in U.S. Senate

  22-10-2015 18:06
  WASHINGTON, Oct 22 (Reuters) - A long-delayed bill that would make it easier for corporations to share information about cyber attacks with each other or the government without fear of lawsuits...
  
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