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Reuters BusinessOct 21, 2019
Facebook suspends Russian Instagram accounts targeting U.S. voters
Facebook Inc said on Monday it has suspended a network of Instagram accounts operated from Russia that targeted Americans with divisive political messages ahead of next year's U.S. presidential election, with operators posing as people within the United States.

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UPDATE 2-Facebook suspends Russian Instagram accounts targeting U.S. voters (Reuters Company News)

MarketWatch MarketPulseOct 21, 2019
S&P 500 logs first finish above 3000 in a month as stocks broadly rise; Dow's gain capped by Boeing
U.S. stock indexes finished mostly higher Monday but the Dow's ascent was capped by a sharp decline in shares of component Boeing Co. The Dow Jones Industrial Average closed up 57 points, or 0.2%, at 26,828, with gains for the blue-chip index limited by a 3.8% decline in shares of Boeing , which produced a roughly 90-point drag on the index. Meanwhile, the S&P 500 index advanced 0.7% to 3,007, marking its highest finish since Sept. 21 and its first close above the psychologically significant level at 3,000 since that date, according to FactSet data. The Nasdaq Composite Index ended the session up 0.9% at 8,163. All closing levels for the stock-market indexes are on a preliminary basis. Shares of Boeing sank for a third straight session as the Wall Street Journal reported that Congress was intensifying scrutiny of the plane maker as new details pointed to undue management pressure on employees and allegations suggested that officials knew of problems with its 737 MAX jet before the plane got approval to fly. Monday's trading action came as investors were digesting mostly upbeat reports on Sino-American trade talks and corporate quarterly results, which were coming in better than expected. Meanwhile, the 10-year Treasury note yield rose 4.7 basis points to a four-week high of 1.794%, reflecting a so-call risk-on environment.

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.



Reuters Company NewsOct 21, 2019
UPDATE 1-SoftBank offers to lend WeWork $5 billion, buy out insiders -sources
SoftBank Group Corp has made a $5 billion debt financing offer to keep WeWork afloat as part of a deal that would make the Japanese technology conglomerate the majority owner of the struggling U.S. office-space sharing start-up, people familiar with the matter said on Monday.

Yahoo BusinessOct 21, 2019
Hundreds of Thousands in California Are Facing Another Blackout
(Bloomberg) -- Hundreds of thousands of Californians are once again facing the prospect of a deliberate blackout as utility giant PG&E Corp. tries to keep its power lines from igniting catastrophic wildfires.Forecasts for strong and dry winds has the San Francisco-based power company considering a shutoff to about 209,000 homes and businesses this week. People in 15 Northern California counties may go dark on Wednesday and Thursday, the company said.The threat of widespread shutoffs is hitting just two weeks after PG&E and Edison International's Los Angeles area utility carried out the biggest deliberate blackout in California history, plunging more than 2 million people into darkness, halting traffic lights and forcing businesses to shut across the Bay Area. The outage drew outrage from customers and state officials who accused PG&E of cutting service to more customers than necessary and failing to properly communicate its plans.Edison, which had said earlier on Monday that it may cut power to 17,300 customers, dropped its warning as winds remained light.The risk of fire in Southern California, however, remains: One blaze erupted Monday near the affluent Pacific Palisades coastal enclave, forcing an evacuation of several streets. Los Angeles Fire Department spokesman Brian Humphrey said the cause of the fire is still under investigation. The neighborhood is served by the Los Angeles Department of Water and Power, he said.Low humidity will cover California this week, the Nation

Yahoo BusinessOct 21, 2019
Do Hedge Funds Love East West Bancorp, Inc. (EWBC)?
Investing in hedge funds can bring large profits, but it's not for everybody, since hedge funds are available only for high-net-worth individuals. They generate significant returns for investors to justify their large fees and they allocate a lot of time and employ complex research processes to determine the best stocks to invest in. A particularly […]


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Were Hedge Funds Right About Dumping Coty Inc (COTY)? (Yahoo Business)

MarketWatch MarketPulseOct 21, 2019
Kennametal warns of revenue 'well below' expectations, slashed outlook
Shares of Kennametal Inc. plunged 15% in premarket trading Monday, after the industrial technology company warned Monday that fiscal first-quarter revenue would fall well more than expected and slashed its full-year outlook, citing further slowing in the general engineering, energy and transportation markets. The company expects to report revenue of $518 million down 12% from $587 million a year ago, and below the FactSet consensus of $547 million. For fiscal 2020, the company cut its adjusted earnings-per-share guidance range to $1.70 to $2.10 from $2.80 to $3.20, compared with the the FactSet consensus of $2.81, and revised its organic sales growth outlook to negative 9% to negative 5% from negative 2% to positive 2%. "Our first quarter results are well below our expectations as market conditions deteriorated more significantly than we anticipated across all regions, and primarily in the general engineering, energy and transportation end markets," said chief Executive Christopher Rossi. The company is projected to report results at or around the end of the month. The stock has dropped 10.2% over the past three months, while Dow Jones Industrial Average has slipped 1.4%.

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 18, 2019
Schlumberger stock rises after swinging to large loss, but adjusted profit and revenue beats expectations
Shares of Schlumberger Ltd. rallied 1.3% in premarket trading Friday, after the oil services company reported a large third-quarter net loss, but an adjusted profit and revenue that beat expectations. The net loss was $11.97 billion, or $8.22 a share, after income of $787 million, or 46 cents a share, in the year-earlier period. Excluding non-recurring items, such as a $12.7 billion charge related to goodwill, intangible assets and fixed assets as a result of "market conditions, adjusted earnings per share came to 43 cents, above the FactSet consensus of 40 cents. Revenue was edged up to $8.54 billion from $8.50 billion, just above the FactSet consensus of $8.50 billion, as an 11% drop in North America revenue was offset by 8% growth in international revenue. "This quarter's results reflected a macro environment of slowing production growth rate in North America land as operators maintained capital discipline, reducing drilling and frac activity," said Chief Executive Olivier Le Peuch. Although international revenue continues to be underpinned by international investment levels, Le Peuch said "market uncertainty" is weighing on the future oil demand outlook " in a climate where trade concerns are seen as challenging global economic growth." The stock has tumbled 17.8% over the past three months, while the VanEck Vectors Oil Services ETF has dropped 19.0% and the S&P 500 has ticked up 0.1%.

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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