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 government spending and
a narrower trade deficit despite mounting concerns about the health
of overseas economies.
U.S. STOCKS RISE; VISA BOOSTS DOW
U.S. stocks pushed higher, as a strong earnings report from Visa
spurred gains for the Dow industrials. The Dow Jones Industrial
Average rose 137 points in recent trading.
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
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 became slightly more upbeat about their prospects during
October, a fresh sign the currency area's economy isn't in imminent
danger of a slide back into a sustained 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.
ECB TO START ABS BUYS IN NOVEMBER
The European Central Bank said that it has appointed four asset
managers to conduct its purchase program of asset backed
securities, adding that the purchases under the program should
begin in November.
FIRST IRAQI KURDISH FIGHTERS REACH KOBANI
The first dozen of some 160 Iraqi Kurdish fighters crossed into
the besieged Syrian city of Kobani from Turkey, as Islamic State
continued shelling the frontier in an apparent attempt to keep them
away.
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.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Heard on the Street
OIL PRICE SLUMP UNBALANCES MAJORS' BUDGETS
Just as Europe's oil and gas companies were getting close to
covering capital spending and dividends with operating cash flow,
along comes a slump in the oil price, writes Helen Thomas.
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.