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Yahoo BusinessOct 29, 2020
Amazon posts Q3 earnings that blow away estimates; COVID-19 effect boosts sales
The tech giant has entrenched itself as one of the biggest beneficiaries of the coronavirus pandemic. 


MarketWatch MarketPulseOct 29, 2020
Dow ends 140 points higher to claw back a slice of Wednesday's rout on busiest day of earnings season
Major U.S. stock benchmarks finished Thursday with solid gains, making up some lost ground from a three-session skid that has come five days before the Nov. 3 presidential and Congressional elections and as cases of COVID-19 have staged a resurgence, hinting at the possibility of a fresh outbreak heading into the fall and winter. What happened: Investors started the day on edge but some skittish buying took hold as market participants parsed a surge in U.S. gross domestic product, which climbed by a 33.1% annual rate-recovering about two-thirds of the ground it lost at heart of the coronavirus pandemic. A tightening presidential election race was also partially blamed for Wednesday's selloff. Democratic challenger Joe Biden's continues to lead President Donald Trump in the polls, but the race has tightened and a survey released this week showed Trump moving ahead of Biden in Florida, a battleground state. Meanwhile, rising coronavirus cases in Europe and the US. have clouded the economic outlook. The numbers: The Dow Jones Industrial Average closed the session with a 139 point gain, up 0.5%, to close at 26, 659, recovering a portion of the 943-point tumble from Wednesday. Apple Inc. , Chevron and Disney shares led gainers on a percentage basis. Walgreens Boots Alliance and UnitedHealth Group Inc. led losing shares on the Dow. The S&P 500 index closed up 1.2% at 3,310, after a 3.5% loss a day ago. The energy sector led the way higher, over 3%, while the health care sector led losses, off 0.5%. The Nasdaq Composite Index closed 1.6% higher, following its 3.7% fall on Wednesday, to end at 11,186. All closing levels are on a preliminary basis. What drove the market: Wall Street may look at Wednesday's decline as an opportunity to tepidly dip into stocks that have been beaten down over the past several sessions. Moreover, investors also may not want to be caught flatfooted ahead of earnings from Facebook Inc. Apple Inc. , Amazon.com , Google

Forbes HeadlinesOct 29, 2020
Ransomware Group Targets Hospitals At Height Of Pandemic
The malware attacks also include data theft and the disruption of healthcare services, and appear to be timed to take advantage of the disruptions caused by the Covid-19 pandemic.

MarketWatch MarketPulseOct 29, 2020
Skechers stock drops even as profit and revenue fall less than forecast
Shares of Skechers USA Inc. dropped 5.5% in after-hours trading Thursday, even as the shoe seller reported a third-quarter profit and revenue that fell less than expected, as direct-to-consumer same-stores sales dropped 22%. Net income fell to $64.3 million, or 41 cents a share, from $103.1 million, or 67 cents a share, in the year-ago period, as the COVID-19 pandemic continued to impact results worldwide. Excluding non-recurring items, adjusted earnings per share declined to 53 cents from 67 cents, but topped the FactSet consensus of 36 cents. Sales slipped 3.9% to $1.30 billion, above the FactSet consensus of $1.20 billion, as domestic wholesale sales rose 6.3%, while international wholesale sales eased 0.5% and direct-to-consumer sales dropped 16.9%. The company did not provide financial guidance given the ongoing uncertainties resulting from the COVID-19 pandemic. The stock, which closed Thursday's regular session up 4.4%, has lost 19.2% year to date, while the S&P 500 has gained 2.5%.

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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