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CNBC FinanceOct 27, 2020
Stock futures rise as market tries to rebound from Monday's big sell-off
On Monday, equities plunged in their worst session since September amid a surge in Covid-19 cases across the country.

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Cummins stock surges toward a record after profit and revenue beats, upbeat outlook (MarketWatch MarketPulse)

MarketWatch MarketPulseOct 27, 2020
Pfizer cites $500 million impact in the third quarter as a result of the COVID-19 pandemic
Shares of Pfizer Inc. were up 0.1% in premarket trading on Tuesday after the drug maker missed sales expectations for the quarter. Pfizer had earnings of $2.2 billion, or 39 cents per share, in the third quarter of 2020, down from $7.7 billion, or $1.36 per share, in the same quarter a year ago. It had adjusted earnings per share of 72 cents for the quarter, against a FactSet consensus of 71 cents. The drug company's revenue fell 4% to $12.1 billion for the quarter, compared with $12.7 billion in the same quarter a year ago. The FactSet consensus was $12.3 billion. The company attributed an estimated unfavorable impact of $500 million for the quarter to the COVID-19 pandemic, citing lower demand for anti-infective products used in surgeries in China and disruptions in traditional prescribing patterns in the U.S. as people avoided going to to the doctor, including a 19% drop in sales of its smoking-cessation drug Chantix. The impact was offset to some degree by "strong performance" of its heart drugs, Vyndaqel and Vyndamax, and its biosimilars business. It did not disclose any additional details about its work to develop a COVID-19 vaccine with BioNTech . However, it did note that the Phase 2/3 clinical trial for the vaccine candidate had enrolled 42,000 participants as of Monday, and about 85% of the participants have received their second and final dose of the experimental vaccine. Pfizer adjusted its 2020 guidance for adjusted earning share to $2.88 to $2.93, from $2.85 to $2.95. Pfizer's stock is down 3.2% for the year, compared with the S&P 500 , which has gained 5.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseOct 27, 2020
Twitter's stock bounces after J.P. Morgan raises price target ahead of earnings
Shares of Twitter Inc. bounced 1.0% in premarket trading Tuesday, after J.P. Morgan analyst Doug Anmuth raised his price target ahead of the social-media company third-quarter earnings report due out later this week. The stock's rally comes after it dropped 2.9% on Monday after closing at a 5 1/2-year high of $50.44 on Friday. Anmuth kept his rating at neutral, but raised his stock price target to $52 from $39, saying he expects "meaningful improvement" in ad revenue. "While [Twitter] likely still lags peers during the ad market recovery, we are confident that brand marketers have resumed spending, specifically as sports have returned & the economy has re-opened," Anmuth wrote in a note to clients. "Based on our conversations, we believe investors expect positive revenue growth from [Twitter] in 3Q," he wrote. The FactSet consensus for third-quarter revenue is $775 million, which implies a 5.9% year-over-year decline. The stock has run up 33.0% over the past three months through Monday, while the SPDR Communication Services Select Sector ETF has gained 6.1% and the S&P 500 has tacked on 5.0%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseOct 27, 2020
Coronavirus tally: Global cases of COVID-19 top 43.5 million, 1.16 million deaths and U.S. 7-day case tally sets record
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 43.5 million on Tuesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.16 million. The U.S. has the highest case total at 8.7 million and deaths at 225,735. The U.S. has averaged 71,000 new cases a day in the last week, it's highest for a 7-day period since the start of the outbreak, the New York Times reported. Brazil has the second highest death toll at 157,397 and is third by cases at 5.4 million. India is second in cases with 7.9 million, and third in deaths at 119,502. Mexico has the fourth highest death toll at 89,171 and ninth highest case tally at 895,326. The U.K has 45,088 deaths, the highest in Europe and fifth highest in the world, and 897,740 cases.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessOct 27, 2020
Merck raises annual profit outlook as Keytruda drives profit beat
The upbeat results showed Merck was on a recovery path after its revenue took a hit at the height of the pandemic, nudging the company's shares about 2% higher in premarket trading. Sales of Keytruda, which is an approved treatment for cancers including non-small-cell lung cancer, rose 21% to $3.7 billion, above analysts estimates of $3.66 billion, according to six analysts polled by Refinitiv. Merck said it now expects full-year adjusted profit of between $5.91 and $6.01 per share, compared with its prior forecast of between $5.63 to $5.78 per share.


Yahoo BusinessOct 27, 2020
Oncolytics Biotech® Collaborates with Roche and AIO to Initiate a Phase 1/2 Gastrointestinal Cancer Trial Combining Pelareorep with Roche's Anti-PD-L1 Checkpoint Inhibitor
Multi-center trial to assess the safety and efficacy of pelareorep-atezolizumab combination therapies across multiple GI cancer indicationsTreatment aimed at 4.8M global GI cancer cases annually1 and the approximately 80% of GI cancer patients who do not respond to immune checkpoint inhibitor therapy currentlyStudy builds on prior early findings of greater than 90% clinical benefit in colorectal and greater than 80% increase in progression-free survival in pancreatic cancer patientsSAN DIEGO, CA and CALGARY, AB, Oct.


SEC.gov Updates: News DigestOct 27, 2020
8-K - ECOLAB INC. (0000031462) (Filer)
2020-10-27 0001558370-20-011768 8 MB
Item 2.02: Results of Operations and Financial Condition
Item 9.01: Financial Statements and Exhibits


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8-K - COLLECTORS UNIVERSE INC (0001089143) (Filer) (SEC.gov Updates: News Digest)
8-K - Citizens Community Bancorp Inc. (0001367859) (Filer) (SEC.gov Updates: News Digest)

KiplingerOct 27, 2020
The 2021 Capital Gains Tax Rate Thresholds Are Out - What Rate Will You Pay?
If you sell stocks, mutual funds or other capital assets that you held for at least one year, any gain from the sale is taxed at either a 0%, 15% or 20% rate. Those tax rates for long-term capital gains are typically much lower than the ordinary tax rates you'd otherwise pay, which can be as high as 37%.

SEE MORE IRS Releases Income Tax Brackets for 2021 However, which one of those capital gains rates - 0%, 15% or 20% - applies to you depends on your taxable income. The higher your income, the higher the rate.

The taxable income thresholds for the capital gains tax rates are adjusted each year for inflation. The IRS has already released the 2021 thresholds (see table below), so you can start planning for 2021 capital asset sales now.

2021 Capital Gains Tax Rate Thresholds Capital Gains
Tax Rate

Taxable Income
(Single)

Taxable Income
(Married Filing Separate)

Taxable Income
(Head of Household)

Taxable Income
(Married Filing Jointly)

0%

Up to $40,400

Up to $40,400

Up to $54,100

Up to $80,800

15%

$40,401 to $445,850

$40,401 to $250,800

$54,101 to $473,750

$80,801 to $501,600

20%

Over $445,850

Over $250,800

Over $473,750

Over $501,600

Tax on Net Investment Income There's an additional 3.8% surtax on net investment income (NII)


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IRS Releases Income Tax Brackets for 2021 (Kiplinger)

MarketWatchOct 27, 2020
Coronavirus update: U.S. case tally tops 8.7 million and marks seven-day record, with more than 20 states seeing most new cases since start of the outbreak
The U.S. case tally for the coronavirus illness COVID-19 climbed above 8.7 million on Tuesday, with more than 20 states counting record numbers of new infections, as more business curfews were announced to combat the spread.

CNBC FinanceOct 27, 2020
Stocks making the biggest moves in the premarket: Xilinx, Merck, Caterpillar, 3M & more
The stocks making the biggest moves in premarket trading include Xilinx, Merck, Caterpillar, 3M, and more.

Google Business NewsOct 27, 2020
Black man shot dead by police in Philadelphia, sparking heated protests - NBC News
Black man shot dead by police in Philadelphia, sparking heated protests  NBC NewsPhiladelphia police shooting of armed Black man sparks violent clashes, at least 30 cops injured: reports  Fox NewsWalter Wallace shooting: Man reportedly armed with knife shot, killed by police in Philadelphia  6abc PhiladelphiaProtesters Gather Outside Police Precinct Hours After Officers Fatally Shoot Man Armed With Knife In West Philadelphia  CBS Philly

Yahoo BusinessOct 27, 2020
Yes, Tesla Beat Earnings — and Yes, Tesla Stock Is Still a Sell, Says Analyst
For a day that marked Tesla's (TSLA) fifth straight quarter of reporting positive profits, last week's 0.7% increase in the share price of Tesla stock seemed somewhat underwhelming.Reporting earnings Wednesday night, Tesla closed trading Thursday up only modestly, and really, only barely outperforming the S&P 500's overall 0.5% move. Tesla called Q3 its "best quarter in history," with pro forma earnings coming in 36% ahead of expectations at $0.76 per share, sales of $8.8 billion about 6% better than predicted, and free cash flowing strongly -- $1.9 billion over the past 12 months.Tesla told investors Wednesday that it remains on target to produce and deliver half a million electric cars this year, despite the fact that "this goal has become more difficult" to achieve in the face of Covid-19. Cybertruck deliveries are expected to begin late next year. Even Tesla's "energy" business -- solar roofs and solar storage -- looks "poised for strong growth," said the company.Much of Wall Street applauded the news, with R.W. Baird and JMP Securities both upgrading Tesla shares to "outperform" and Piper Sandler calling Tesla a "must-own" stock, and as both Oppenheimer and RBC Capital raised price targets on the shares. One analyst, however, stood out from the crowd for his continued pessimism on Tesla:Gordon Johnson of GLJ Research says Tesla is still a "sell."Urging investors not to forget the forest for the trees, Johnson reminds Elon Musk fans that Tesla continues to rely heavily upon

Yahoo BusinessOct 27, 2020
Do These Hedge Funds Regret Selling Chipotle Mexican Grill, Inc. (CMG)?
Is Chipotle Mexican Grill, Inc. (NYSE:CMG) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise […]


MarketWatch MarketPulseOct 27, 2020
Novavax's stock rises 3% as it announces plans to share Phase 2 vaccine data this week
Shares of Novavax Inc. gained 2.9% in trading on Tuesday after the company said it expects to launch a Phase 3 trial for its COVID-19 vaccine candidate in Mexico and the U.S. by the end of next month. It already started a late-stage trial for its vaccine in the U.K. in September. Novavax has published some data for its experimental COVID-19 vaccine from its Phase 1 clinical trial, in September in the New England Journal of Medicine. It said Tuesday it plans to present new reactogenicity data from the Phase 2 trial on Friday, during an advisory committee on immunization practices meeting convened by the Centers for Disease Control and Prevention. Novavax's stock has soared 2,180.1% so far this year, compared with the S&P 500 , which is up 5.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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Stocks rise at the open one day after Dow's worst day in 8 weeks (MarketWatch MarketPulse)

Yahoo BusinessOct 27, 2020
OneMain Raises Dividend By 36% After EPS Beat Street Estimates
OneMain Holdings raised its quarterly dividend by 36% to $0.45 per share after the financial services company's 3Q profit exceeded analysts' estimates. The dividend will be paid on Nov. 17 to shareholders on record as of Nov. 9. OneMain shares are up 1.5% in the pre-market session on Tuesday.OneMain's (OMF) 3Q EPS increased 2.2% year-on-year to $1.86 and came ahead of the Street consensus of $1.22. However, 3Q revenues fell 4.3% year-on-year to $935 million, missing analysts' expectations by $3.42 million.OneMain said that its Consumer and Insurance (C&I) segment's adjusted earnings rose to $2.19 per share in 3Q, up from the $1.77 per share in the prior-year quarter. Moreover, the C&I's provision for finance receivable losses of $232 million in 3Q declined from the year-ago quarter of $277 million, primarily due to the impact of lower delinquencies in the portfolio.OneMain's CEO Doug Shulman said that "Our third quarter financial results reflected continued strength across the core drivers of our business, as well as our focused efforts to support customers during this period of uncertainty." He added that "Advanced data and analytics are driving our sophisticated underwriting and continued innovation, enabling OneMain to continue to enhance and strategically evolve our business while driving strong returns for all stakeholders." (See OMF stock analysis on TipRanks).Following the results, Northland Securities analyst Michael Grondahl maintained a Buy rating and a price target of $40 (6.6% upside

Yahoo BusinessOct 27, 2020
5 Stocks That Could Have Great Near-Term Growth Potential (1 Has Gained 127% Since June 30)
Cristan Blackman's Empirical Capital Partners is a Tennessee-based hedge fund founded in 2000 that takes a small number of concentrated positions in high-quality companies, with the fund investing the bulk of its assets in those companies which it sees as having the greatest potential for near-term gains. The fund managed a 13F portfolio containing $70.1 […]


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Turning Point Brands shares jump premarket after earnings blow past estimates (MarketWatch MarketPulse)
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Harley-Davidson shares jump after earnings and revenue blow past expectations (MarketWatch MarketPulse)
3M's stock ticks up after profit beats expectations, sales rise just above forecasts (MarketWatch MarketPulse)
KiplingerOct 26, 2020
What Are the Income Tax Brackets for 2020?
It's never too early to start thinking about your next tax return. For most Americans, that'll be your federal tax return for the 2020 tax year — which, by the way, will be due on April 15, 2021 (or October 15, 2021, if extended). The 2020 tax rates themselves are the same as the rates in effect for the 2019 tax year: 10%, 12%, 22%, 24%, 32%, 35% and 37%. However, as they are every year, the 2020 tax brackets were adjusted to account for inflation. That means you could wind up in a different tax bracket when you file your 2020 return than the bracket you were in before - which also means you'll be paying a different tax rate on some of your income.

SEE MORE Tax Changes and Key Amounts for the 2020 Tax Year The tax bracket ranges also differ depending on your filing status. For example, the 22% tax bracket for the 2020 tax year goes from $40,126 to $85,525 for single taxpayers, but it starts at $53,701 and ends at $85,500 for head-of-household filers.

The difference between bracket ranges sometimes creates a "marriage penalty." This tax-law twist makes certain married couples filing a joint return — typically, where the spouses' incomes are similar — pay more tax than they would if they were single. The penalty is triggered when, for any given rate, the minimum taxable income for the joint filers' tax bracket is less than twice the minimum amount for the single filers' bracket. Before the 2017 tax reform law, this happened in the four highest tax brackets. But now, as you can see in the tables below, only the top tax bracket contains the marriage penalty trap. As a result, only couples with a combined taxable income over $622,050 are at risk when filing thei


Google Business NewsOct 26, 2020
Dow Jones Futures: Stock Market Rally Struggles As Coronavirus Cases Soar; Dexcom, Twilio Are Key Movers Late - Investor's Business Daily
Dow Jones Futures: Stock Market Rally Struggles As Coronavirus Cases Soar; Dexcom, Twilio Are Key Movers Late  Investor's Business DailyDow drops 650 points as S&P 500, Nasdaq post worst day since September  Fox BusinessAsian shares slip after Wall St's worst day in a month  KTAR.comDow Slumps as Record Surge in Infection Triggers Bloodbath  Investing.comWall Street tumbles as virus cases soar  Reuters

Google Business NewsOct 26, 2020
32 years since their last championship, Dodgers are a single win away from an elusive 7th World Series title - KTLA Los Angeles
32 years since their last championship, Dodgers are a single win away from an elusive 7th World Series title  KTLA Los AngelesWhat year is it?! Manuel Margot tries wildly aggressive straight steal of home  Yahoo Sports2020 World Series: Dodgers Fans' Opinions of Joe Buck  Dodgers NationOutside The Confines: Let's talk

Yahoo BusinessOct 26, 2020
Apple (AAPL), Amazon (AMZN) Among Brasada Capital Management's Biggest Quarterly Moves
Mark McMeans' Brasada Capital Management is a Houston-based long/short equity hedge fund founded in 2008. The fund takes a conservative approach to its investments, including using hedging and risk management strategies to achieve its desired risk-adjusted returns. The fund's assets under management more than doubled between early-2017 and early-2018, and topped $542 million in the […]


Yahoo BusinessOct 26, 2020
NIAID Study Finds Eli Lilly's Antibody Drug Unhelpful For Hospitalized COVID-19 Patients
Eli Lilly and Company (NYSE: LLY) said Monday that a trial of its antibody treatment for use in hospitalized COVID-19 patients has come to an end as the treatment is unlikely to help such patients. What Happened: The one of its kind study -- conducted by the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health -- was evaluating the efficacy of bamlanivimab, according to a statement issued by the company.Eli Lilly said that trial data has led to the recommendation that the treatment is unlikely to help hospitalized COVID-19 patients recover from an advanced stage of the disease.Other studies investigating bamlanivimab will continue, including an NIH-sponsored study evaluating the efficacy of the treatment in mild-to-moderate COVID-19 cases and the company's own Phase 2 trial in people recently diagnosed with COVID-19 in a non-hospitalized setting.Why It Matters: The Indianapolis, Indiana-based drug giant said it has submitted for an emergency use authorization for bamlanivimab based on its own Phase 2 trial results.This month, the drugmaker halted the Phase 3 trial of its antibody treatment due to a "potential safety concern." It was reported earlier that the Eli Lilly plant being readied to make the antibody treatment for COVID-19 was found to have serious quality control problems by the United States Food and Drug Administration.President Donald Trump was administered a similar antibody treatment from Regeneron Pharmaceutic
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