Finance news

• UPDATE 1-Hanjin Shipping vessel docks in Vancouver

  27-10-2016 23:52
  
  VANCOUVER, Oct 27 (Reuters) - A container vessel that spent
  months sitting off Canada's west coast due to the collapse of
  South Korea shipping company Hanjin docked in Vancouver on
  Thursday,...
  
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• Google parent Alphabet beats on revenue, earnings; sets buyback

  27-10-2016 23:43 via news.yahoo.com
  
  Alphabet, along with Facebook Inc, dominates the fast-growing mobile advertising market. Shares of Alphabet, the world's No. 2 company by market value, were up 1.6 percent in after-hours trading. The company posted third-quarter adjusted earnings per share of $9.06 on revenue of $22.45 billion.
  
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• Amazon forecast for holiday season disappoints as investment rises

  27-10-2016 23:23 via news.yahoo.com
  
  Amazon.com Inc provided a disappointing forecast for the holiday season quarter while posting earnings that missed Wall Street estimates in the third quarter, as it invested heavily on shipping, video offerings and other projects, sending its shares down nearly 5 percent. Investors and analysts are trying to gauge how much more Amazon plans to invest in its various ventures, and it unnerved some that it offered wide ranges in its outlook. "Amazon really doesn't know what's going to happen this q
  
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• British data prompts global bond sell-off; Wall Street falls

  27-10-2016 23:03 via news.yahoo.com
  
  By Hilary Russ NEW YORK (Reuters) - Strong growth data out of Britain prompted the biggest daily sell-off in government debt for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut. The bond sell-off gained momentum in the United States after upbeat jobless claims data pointed to another robust non farm payrolls number next week. Wall Street closed lower, dipping in a choppy session after the latest round of ea
  
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• GLOBAL MARKETS-British data prompts global bond sell-off; Wall Street falls

  27-10-2016 22:54 via news.yahoo.com
  
  Strong growth data out of Britain prompted the biggest daily sell-off in government debt for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank ...
  
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• Stocks dip as earnings pour in, consumer discretionary lags

  27-10-2016 22:16 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks dipped in a choppy session after the latest round of earnings reports, as a decline in the consumer discretionary sector and interest-rate sensitive stocks outweighed gains in healthcare names. The S&P 500 healthcare index rose 0.53 percent to help keep the S&P 500 near the unchanged mark, buoyed by strong results and forecasts from Bristol-Myers , up 5.4 percent and Celgene , up 6.4 percent. The two drugmakers were the top boosts to
  
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• US STOCKS-Stocks dip as earnings pour in, consumer discretionary lags

  27-10-2016 22:14 via news.yahoo.com
  
  U.S. stocks dipped in a choppy session after the latest round of earnings reports, as a decline in the consumer discretionary sector and interest-rate sensitive stocks outweighed gains in healthcare names. ...
  
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• Abengoa U.S. unit's creditors demand financial details

  27-10-2016 22:07
  
  CHICAGO, Oct 27 (Reuters) - Creditors of a bankrupt U.S.
  subsidiary of Abengoa SA demanded more details on the
  unit's financial accounts on Thursday, even as a bankruptcy
  judge said the company could...
  
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• Wall Street falls as consumer discretionary shares weigh

  27-10-2016 22:04 via news.yahoo.com
  
  (Reuters) - U.S. stocks dipped in a choppy session after the latest round of earnings reports, as a decline in the consumer discretionary sector and interest-rates sensitive stocks outweighed gains in healthcare.
  
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• British data prompts global bond selloff; oil rises

  27-10-2016 21:22 via news.yahoo.com
  
  By Hilary Russ NEW YORK (Reuters) - Strong growth data out of Britain prompted the worst daily selloff in government bond for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut. In the United States, equity losses led by Comcast and consumer discretionary stocks offset gains in the healthcare sector, while European stocks slid and the U.S. dollar advanced against the Swedish crown and Japanese yen. Official da
  
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• Hanjin Shipping vessel set to dock in Vancouver

  27-10-2016 20:52
  
  VANCOUVER, Oct 27 (Reuters) - A container vessel that spent
  months sitting off Canada's west coast due to the collapse of a
  major South Korea shipping company is set to dock in Vancouver
  on Thursday,...
  
  Read more

• Stocks flat as earnings roll in, Comcast drags Nasdaq

  27-10-2016 20:50 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks were little changed in a choppy session after the latest round of earnings reports, while a decline in Comcast shares pushed the Nasdaq into negative territory. The S&P 500 healthcare index rose 0.73 percent to help keep the S&P 500 near the unchanged mark, buoyed by strong results and forecasts from Bristol-Myers , up 5.5 percent and Celgene , up 6.6 percent. The two drugmakers were the top boosts to the S&P 500. ...
  
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• US STOCKS-Stocks flat as earnings roll in, Comcast drags Nasdaq

  27-10-2016 20:47 via news.yahoo.com
  U.S. stocks were little changed in a choppy session after the latest round of earnings reports, while a decline in Comcast shares pushed the Nasdaq into negative territory. The S&P 500 healthcare index ...
  
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• Ford, GM pitch new strategies; Wall Street snubs them

  27-10-2016 20:24 via news.yahoo.com
  
  By Bernie Woodall and Joseph White DETROIT (Reuters) - Ford Motor Co and General Motors Co have worked all year to convince investors that they are no longer prisoners of the U.S. auto market cycle and have solid plans to fend off challenges from Silicon Valley interlopers. This week, Wall Street looked at the Detroit companies' stronger-than-expected quarterly results and turned thumbs down. GM, the largest U.S. automaker, reported record third-quarter net income on Tuesday, but its shares have
  
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• IMF chief says Egypt in currency 'crisis'

  27-10-2016 20:02 via news.yahoo.com
  
  IMF chief Christine Lagarde said Thursday that Egypt is going through a currency "crisis," suggesting a quick devaluation to tackle a widening gap between the official and black market rates. Egypt has been struggling to shore up its foreign currency reserves in the political and economic turmoil following the January 2011 uprising that toppled former ruler Hosni Mubarak. The government of President Abdel Fattah al-Sisi is rolling out an austerity programme and is seeking billions in support fro
  
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• Twitter's video-sharing mobile app Vine to close

  27-10-2016 19:32 via news.yahoo.com
  
  By Amy Tennery NEW YORK (Reuters) - Twitter Inc announced Thursday that it would discontinue the video-sharing mobile app Vine, as it moves to cut 9 percent of its workforce worldwide to keep costs down after beating Wall Street quarterly earnings expectations. The decision comes on the heels of a failed attempt to sell Twitter as it fights against stagnant user growth and mounting competition from other social media platforms. In a post published jointly by Twitter and Vine to the blog platform
  
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• Hyundai, Kia will pay $41.2 million in resolve state mileage claims

  27-10-2016 19:24 via news.yahoo.com
  
  Korean carmakers Hyundai Motor Co and affiliate Kia Motors Corp will pay $41.2 million to resolve a long running investigation by 33 U.S. states over the automakers' 2012 mileage restatements, state attorney generals said Thursday. In 2014, the automakers were hit with $350 million in penalties by the U.S. government for overstating fuel economy ratings.
  
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• UPDATE 1-AstraZeneca pauses two cancer drug trials' enrolment due to bleeding

  27-10-2016 19:20
  
  * Move does not affect other immunotherapy drug trials(Adds more comment from company and analysts, details on
  bleeding)
  
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• Community Health Systems shares slammed on warning, debt worry

  27-10-2016 19:16
  
  Oct 27 (Reuters) - Shares in Community Health Systems Inc
  tumbled 43.8 percent in heavy trading on Thursday after
  the acute care hospital operator warned that third-quarter
  financial results will...
  
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• BUZZ-Shutterfly Inc: Biggest intraday pct gain in more than 2 years

  27-10-2016 19:13
  
  ** Shares jump as much as 12.7 pct to $47.40, biggest
  intraday pct gain in more than 2 years
  
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• Twitter cuts jobs with eye on 2017 profit; Vine discontinued

  27-10-2016 18:55 via news.yahoo.com
  
  Twitter Inc said Thursday it would cut 9 percent of its global workforce to keep costs down even as quarterly results eclipsed Wall Street's beaten-down expectations, lifting shares that had fallen after a failed effort to sell the company. More than 300 Twitter employees will be affected by the layoffs as part of a broader restructuring, a figure similar to an earlier round of reductions announced a year ago. Separately, the company announced it would discontinue Vine, a video app launched in 2
  
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• UPDATE 7-Twitter cuts jobs with eye on 2017 profit; Vine discontinued

  27-10-2016 18:50
  
  * Shares gain but off day's highs(Adds that Twitter intends to end Vine service, updates shares)
  
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• British data prompts global bond selloff; U.S. stocks flat

  27-10-2016 18:50 via news.yahoo.com
  
  By Hilary Russ NEW YORK (Reuters) - Strong growth data out of Britain prompted the worst daily selloff in gilts for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut. In the U.S., stock market losses led by Comcast and consumer discretionary stocks were offset by gains in the healthcare sector, while European stocks slid and the U.S. dollar hit highs against the Swedish crown and Japanese yen. Official data s
  
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• European equities tentative as pound makes brief rally

  27-10-2016 18:47 via news.yahoo.com
  
  European stocks made little headway Thursday amid a flurry of company earnings reports, while a rally by the British pound after better-than-expected economic growth data proved short lived. "Stock markets are going through a period of churn as investors digest a slew of corporate results, notably from European banks and US tech firms," Jasper Lawler, analyst at CMC Markets, said in an investors' note. "The FTSE 100, like the other main European indices, reversed early losses to make small gains
  
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• U.S. charges 61 over India-based impersonation scam

  27-10-2016 18:37 via news.yahoo.com
  
  The U.S. Justice Department charged 61 people and entities on Thursday with taking part in a scam involving India-based call centers where agents impersonated Internal Revenue Service, immigration and other federal officials and demanded payments for nonexistent debts. Twenty people were arrested in the United States on Thursday, while 32 individuals and five call centers in India have been charged, the department said in a statement. The defendants, including 24 people across nine U.S. states,
  
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• Britain's FTSE boosted by Barclays, though mid-caps fall

  27-10-2016 18:35
  
  * Though Amec Foster Wheeler, Berendsen weigh on midcaps(ADVISORY- Follow European and UK stock markets in real time on
  the Reuters Live Markets blog on Eikon, see...
  
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• Gilt yields hit post-Brexit highs after UK GDP data, sterling drops

  27-10-2016 18:13 via news.yahoo.com
  
  By Anirban Nag LONDON (Reuters) - British gilt yields surged to a post-Brexit peak on Thursday, after data showed the economy had grown faster than expected in the third quarter, reducing the chances of an interest rate cut in the near term. The benchmark 10-year gilt yield rose 10 basis points to 1.27 percent , the highest since the Brexit vote in June, dragging other European government bond yields higher.
  
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• UPDATE 3-Dow Chemical gains from consumer focus ahead of DuPont merger

  27-10-2016 17:55
  
  * Discussions around agri assets sale for DuPont deal - CFO(Adds details on cost cuts, earnings graphic; updates shares)
  
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• Beneath the rancor, Social Security’s future is on the ballot

  27-10-2016 17:47
  
  CHICAGO (Reuters) - The future of Social Security is on the ballot this year - not that you could tell by the U.S. presidential debates, or by any other aspect of this rancorous, sensational election.
  
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• Wall Street reverses course as discretionary, industrials weigh

  27-10-2016 17:37 via news.yahoo.com
  
  U.S. stocks reversed course late Thursday morning as weak results from several industrial and consumer discretionary companies eclipsed gains from healthcare stocks. The top drag on the S&P 500 and the Nasdaq was Comcast, which fell 2.7 percent following price target cuts from Barclays and Deutsche Bank, citing increased competition from AT&T-owned DirecTV Now. Comcast, along with Ford, whose quarterly net income fell by more than 50 percent, were chiefly responsible for the consumer dis
  
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• U.S. charges 61 over India-based IRS impersonation scam

  27-10-2016 17:34 via news.yahoo.com
  
  The U.S. Justice Department charged 61 people and entities on Thursday with taking part in a scam involving India-based call centers where agents impersonated Internal Revenue Service, immigration and other federal officials and demanded payments for non-existent debts. The defendants, who were indicted by a grand jury in the U.S. District Court for the Southern District of Texas on Oct. 19, included 32 people and five call centers in India and 24 people in nine U.S. states, the statement said.
  
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• Oft-divided SEC speaks with one voice when suing corporations: records

  27-10-2016 17:29
  
  WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission has released a collection of internal voting records, long held secret, that reveal it to be less divided than is commonly thought.
  
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• UPDATE 3-Celgene's Revlimid sales spark forecast raise, shares jump

  27-10-2016 17:15
  
  * Shares rise as much as 6.9 pct to $105.29(Adds analyst comments, conf call details; updates shares)
  
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• Eurozone equities sag as British pound wins GDP boost

  27-10-2016 16:41 via news.yahoo.com
  
  The British pound rallied briefly Thursday on brighter-than-expected economic growth data, while eurozone stock markets sagged amid a dearth of news from the region. Sterling bounced after official data showed that Britain's economy grew by 0.5 percent in the three months following the country's referendum in favour of exiting the European Union. "The GDP data initially boosted the pound which had a negative impact on the FTSE and pushed it into the red," Oanda analyst Craig Erlam told AFP.
  
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• Brexit vote hits Bucher's street and sewer cleaning sales

  27-10-2016 16:32
  
  ZURICH, Oct 27 (Reuters) - British orders for Swiss-based
  Bucher Industries' street sweepers and sewer cleaners
  have fallen dramatically since the country's vote to leave the
  European Union.
  
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• Average US 30-year mortgage rate eases to 3.47 percent

  27-10-2016 16:21 via news.yahoo.com
  
  Long-term U.S. mortgage rates declined this week, moving closer to historically low levels. Mortgage giant Freddie Mac says the average for a 30-year fixed-rate mortgage eased to 3.47 percent from 3.52 ...
  
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• REFILE-UPDATE 3-Nokia hit by weak wireless market, says awaiting merger benefits

  27-10-2016 16:15
  
  HELSINKI, Oct 27 (Reuters) - Finnish telecoms equipment
  group Nokia reported a sharp drop in third-quarter
  earnings on Thursday, suffering fromweaker sales in the
  wireless network market and...
  
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• UPDATE 1-Tesla up on surprise profit, reassurance on capital plans

  27-10-2016 16:06
  
  Oct 27 (Reuters) - Tesla Motors Inc's shares rose
  more than 5 percent in early trading on Thursday as investors
  welcomed the electric car maker's first quarterly profit in more
  than three years and...
  
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• Healthcare, tech stocks drive Wall Street higher

  27-10-2016 15:58 via news.yahoo.com
  
  Profits at S&P 500 companies have largely exceeded analysts' estimates for the third quarter so far, setting up for the first profit growth since the second quarter of 2015. Overall earnings for the S&P 500 companies in the latest quarter are expected to rise 2.2 percent, according to Thomson Reuters I/B/E/S. Investors also took Qualcomm's deal to buy NXP Semiconductors for about $47 billion as a sign of confidence in the U.S. equity market. NXP's shares rose 2.32 percent, while Qualcomm
  
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• Flat loan growth heralds more ECB easing: analysts

  27-10-2016 15:18 via news.yahoo.com
  
  Growth in borrowing by businesses and households in the eurozone remained flat in September, the European Central Bank said Thursday, fuelling expectations it will extend its unconventional monetary policy beyond existing deadlines. Policy measures from the ECB are designed to stimulate lending to the real economy, allowing people and businesses to invest and the economy to grow. Overall, there was 1.8 percent growth in lending in September compared with 1.3 percent the previous month.
  
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• Germany's HSH Nordbank seals charter of Hanjin ships to Maersk

  27-10-2016 15:14
  
  LONDON/FRANKFURT, Oct 27 (Reuters) - Germany's HSH Nordbank
  has arranged a deal which will see six container ships
  from collapsed South Korean line Hanjin chartered out to
  Denmark's AP Moller...
  
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• U.S. business spending tepid; labor market firming

  27-10-2016 15:09 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - New orders for U.S. manufactured capital goods unexpectedly fell in September amid weak demand for computers and electronic products, which could temper expectations for an acceleration in business spending in the fourth quarter. Other data on Thursday showed a drop in the number of Americans applying for unemployment benefits last week, pointing to sustained labor market strength and firming economic growth. The Commerce Department said non-defense capit
  
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• Anthony Scaramucci on turning failure into success

  27-10-2016 15:04
  
  NEW YORK (Reuters) - When hedge-fund king Anthony Scaramucci left Lehman Brothers in 2005 to start SkyBridge Capital from scratch, a few people thought he was nuts, including his own daughter.
  
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• National Bank of Canada cuts 600 jobs in restructuring

  27-10-2016 14:47 via news.yahoo.com
  
  National Bank of Canada said on Thursday it will cut 600 jobs as part of a restructuring and take a charge of C$175 million ($131 million) in the fourth quarter. Canada's sixth biggest lender said the charge included severance payments to employees and the cost of changing premises. "The shift to a digital economy offers tangible growth opportunities for National Bank but requires us to remain agile and efficient in fully meeting client expectations," said National Bank of Canada Chief Executive
  
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• Buyout firm Blackstone third-quarter earnings beat estimates

  27-10-2016 14:43 via news.yahoo.com
  
  Blackstone Group LP , the world's biggest alternative asset manager, posted stronger-than-expected third-quarter earnings on Thursday as its real estate, private equity and credit investments posted sharp turnarounds. Performances across all of Blackstone's main businesses -- buyouts, real estate, hedge funds and credit -- improved markedly compared with year ago, when a plunging U.S. stock market pushed investments into the red.
  
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• Deutsche Bank lags Wall Street in bond trading comeback

  27-10-2016 14:38 via news.yahoo.com
  
  Deutsche Bank benefited from the rising tide in bond trading in the third quarter of 2016, but as it struggles with the protracted overhaul of its investment bank, Wall Street rivals are stealing a march. The volatile markets between July and September, sparked by Britain's vote to leave the European Union and bouts of anxiety about monetary policy around the world, would normally be perfect conditions for Deutsche Bank's fixed-income business to turn a hefty profit. Indeed revenues at its cash-
  
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• Recall, product launch costs slash Ford third-quarter profit

  27-10-2016 14:28 via news.yahoo.com
  
  By Bernie Woodall and Joseph White DETROIT (Reuters) - Ford Motor Co reported a more than 50 percent drop in third-quarter net income on Thursday, saying its North American business suffered from lower sales, higher recall costs and a complicated introduction of a new pickup truck. The profit exceeded Wall Street expectations, however. Excluding one-time items, Ford said earnings were 26 cents a share, beating the analysts' average estimate of 20 cents compiled by Thomson Reuters I/B/E/S. Third
  
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• Twitter beats estimates, cuts jobs with eye on 2017 profitability

  27-10-2016 14:22 via news.yahoo.com
  
  Twitter Inc said Thursday it would cut 9 percent of its global workforce to keep costs down as the microblogging service reported quarterly results that beat Wall Street expectations, lifting shares. Total advertising revenue of $545 million grew 6 percent year-over-year. Excluding items, the company earned 13 cents per share, beating the average estimate of 9 cents, according to Thomson Reuters I/B/E/S. "We're getting more disciplined about how we invest in the business, and we set a company go
  
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• European banks reassure on earnings, dollar holds near highs

  27-10-2016 14:20 via news.yahoo.com
  
  By Vikram Subhedar LONDON (Reuters) - Reassuring results from some of Europe's biggest banks gave the region's beaten-down financials a boost on Thursday and helped offset weakness in industrial and tech stocks, while higher bond yields continued to underpin the dollar. As corporate earnings continued to dominate headlines, growing expectations that the U.S. Federal Reserve will raise interest rates by the end of the year have kept gains in risky assets in check. Markets are now pricing in a 74
  
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• UK economy escapes short-term Brexit hit, gets Nissan boost

  27-10-2016 14:17 via news.yahoo.com
  
  By William Schomberg and Costas Pitas LONDON (Reuters) - Britain's economy slowed only slightly in the three months after the Brexit vote and carmaker Nissan said it would build more cars in the country, tempering fears about the immediate economic impact of the decision to leave the European Union. The stronger-than-expected growth figures published on Thursday further diminished the likelihood of the Bank of England cutting rates as soon as next week, prompting investors to sell British govern
  
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