TOP STORIES
U.S. GDP EXPANDS AT 3.5% RATE
U.S. GDP advanced at a seasonally adjusted annual rate of 3.5%
in 3Q, a sign of sustained growth fueled by American consumers and
businesses despite mounting concerns about the health of overseas
economies.
U.S. STOCKS TRADE MIXED
U.S. stocks traded mixed after a stronger-than-expected reading
on 3Q GDP. The data came a day after the Fed announced the end of
its bond-buying program and brightened its economic outlook.
WAL-MART WEIGHS MATCHING ONLINE PRICES
Wal-Mart Stores is testing a program to match online prices from
rivals like Amazon.com this holiday season, a move that could make
the discounter more competitive but also cut into profits.
TIME WARNER CABLE PROFIT DROPS AS SUBSCRIPTIONS WANE
Time Warner Cable, still awaiting regulatory approval for its
deal to be bought by larger peer Comcast, said its 3Q profit fell
6% to $499 million, missing Wall Street expectations as the company
lost subscribers.
CARDINAL HEALTH'S REVENUE EDGES LOWER
Cardinal Health said its revenue edged down 2% to $24.07 billion
in its fiscal 1Q, hurt by the expiration of its contract with
Walgreen. Overall, the company posted a profit of $266 million.
EUROZONE CONFIDENCE REVIVES, POINTS TO GROWTH
Businesses and consumers across the 18 countries that share the
euro were slightly more upbeat about their prospects in October, a
sign that the eurozone economy is unlikely to slide back into
contraction.
KELLOGG SALES CONTINUE TO DECLINE
Kellogg reported a profit of $224 million, or 62 cents a share,
as sales fell 2.1% in the latest quarter on declines at the cereal
maker's morning foods and snack businesses.
BAD LOANS RISE AT CHINA'S BIGGEST BANKS
Sour loans on the books of China's biggest banks have risen 22%
since the start of the year, as slowing economic growth and
overcapacity in a number of industries take an increasing toll on
the financial sector.
CONOCOPHILLIPS'S EARNINGS RISE ON HIGHER PRODUCTION
ConocoPhillips said its 3Q earnings grew 9% to $2.7 billion on
increased oil and gas production, despite a drop in selling prices.
For the full year, ConocoPhillips reaffirmed its outlook for 3% to
5% volume growth.
BARCLAYS TAKES $800M PROVISION RELATED TO FOREX PROBES
Barclays reported a fresh legal provision related to
investigations into the alleged manipulation of the
foreign-exchange market, weighing down what was otherwise a
brighter quarterly performance.
CIGNA RAISES OUTLOOK AS RESULTS EXCEED EXPECTATIONS
Cigna's 2Q profit fell to $534 million, even as total operating
revenue, which includes net investment income and mail-order
pharmacy revenue, improved 8.7% to $8.73 billion. The firm again
raised its guidance.
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The Wall Street Journal
U.S. BOOM CAN STAND FURTHER FALL IN OIL PRICES
Oil prices would need to fall at least another $20 a barrel to
choke off the U.S. energy boom, industry experts say, though some
smaller American producers would face serious problems from a more
modest decline.
Grand Central
YELLEN SURPRISES WITH WILLINGNESS TO DISPLEASE DOVES
After Wednesday's policy decision, Janet Yellen has now run six
policy meetings and experienced five dissents at those meetings.
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