TOP STORIES
TABLETS AGAIN DRIVE VERIZON'S SUBSCRIBER GROWTH
Verizon posted a 3Q profit of $3.7 billion, or 89c a share.
Revenue rose 4.3% to $31.59 billion. Verizon said it added 1.52
million of its most lucrative long-term wireless contracts, again
driven by a surge in tablet connections.
MCDONALD'S PROFIT FALLS 30% ON U.S., CHINA WOES
McDonald's promised significant changes after reporting a
worse-than-expected 30% drop in 3Q earnings and calling its
challenges "more formidable than expected." Revenue fell 5% to
$6.99 billion.
CEO OF TOTAL DIES IN MOSCOW PLANE CRASH
Russian investigators said that the plane that crashed in Moscow
killing Total's chief executive and three crew members hit a
snow-removal vehicle, whose driver was allegedly under the
influence of alcohol, before bursting into flames and plowing into
the runway.
COKE UNVEILS BROADER COST-CUTTING PLAN
Coca-Cola unveiled a broader cost-cutting program and warned it
doesn't expect to meet its previous financial targets as it again
posted lackluster soda volume and struggled with currency
headwinds. Shares fell 5%.
JPMORGAN FINED BY EU OVER RATE RIGGING, CARTEL
J.P. Morgan was fined more than EUR72 million by European Union
regulators for rigging a benchmark interest rate and operating a
separate cartel in derivatives linked to the Swiss franc.
U.S. STOCKS EXTEND GAINS
U.S. stocks rose on the heels of the largest two-day gain for
the Dow industrials since February. U.S. and European shares gained
on news that the ECB is considering purchases of corporate
bonds.
CHINA GROWTH SLOWS TO 7.3%
China's economy in the third quarter grew at its slowest pace in
five years as it battles a slumping real-estate market and weak
domestic demand and industrial production.
UNITED TECHNOLOGIES SALES RISE
United Technologies said its 3Q sales rose 4.6% to $16.17
billion, driven by higher equipment orders at its Otis elevator and
other businesses. Overall, the company reported a profit of $1.85
billion.
LOCKHEED MARTIN FORECASTS SALES, MARGINS DROP
Lockheed Martin's 3Q profit rose to $888 million, beating
forecasts, but says it sees sales and margins dropping sequentially
in 2015, even if lawmakers approve the Pentagon's existing budget
plan. Shares fell 4%.
KIMBERLY-CLARK TO CUT UP TO 1,300 JOBS
Kimberly-Clark reported a 3Q profit of $562 million. Sales
increased 3.4% to $5.4 billion. The company plans to cut up to
1,300 jobs as part of a restructuring initiative to cut costs.
LDK SOLAR USA FILES CHAPTER 11 BANKRUPTCY
LDK Solar USA filed for Chapter 11 protection to implement a
debt-restructuring agreement with senior bondholders owed about
$295 million.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Grand Central
FED BRINGS A CULTURE WAR TO WALL STREET
Stories of swindlers and punishment are relevant today because
the Federal Reserve has concluded that Wall Street has a culture
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global central banks.
Capital Journal Daybreak
POLICE ARRESTS REPLACE SCHOOL DISCIPLINE
A generation ago, schoolchildren caught fighting in the
corridors, sassing a teacher or skipping class might have gotten
detention. Today, there's a good chance they'll end up in police
custody. Sign up here for The Wall Street Journal's morning rundown
of the biggest news driving Washington.