TOP STORIES
VW BUYBACK DEAL ON DIESEL-EMISSIONS SCANDAL APPROVED
Volkswagen received final approval of a $14.7 billion deal
reached with consumers and government agencies that could get
nearly half a million dirty diesel vehicles off U.S. roads.
GENERAL MOTORS EARNINGS MORE THAN DOUBLE
GM recorded significantly higher earnings and record revenue in
the third quarter amid strong truck sales in the U.S. but signaled
continued weakness in Europe on Brexit fallout.
STOCKS FALL ON MIXED EARNINGS REPORTS
Major indexes were little changed, even as individual stocks
made big moves after companies released a flurry of corporate
earnings reports. The S&P 500 declined 0.4%.
DRAGHI DEFENDS ECB'S EASY-MONEY POLICIES
European Central Bank President Mario Draghi launched a strong
defense of the ECB's easy-money policies, stressing that the
central bank is committed to keeping interest rates low until its
hit its inflation target.
CATERPILLAR SAYS SALES WOES COULD LINGER
Caterpillar Inc., the world's largest maker of mining and
construction equipment, said it predicts 2017 will be as rough as
this year as the company suffers in the global commodities
bust.
U.S. CONSUMER CONFIDENCE STEPS BACK IN OCTOBER
Americans took a dimmer view of the economy this month, the
latest sign that households remain cautious as economic growth lags
behind this year and the presidential election nears.
U.S. HOME-PRICE GROWTH WARMED UP IN AUGUST
Home-price growth accelerated in August-with the Case-Shiller
index rising 5.3% from the previous August-as a lack of inventory
and low interest rates helped push prices to near-record
levels.
PROCTER & GAMBLE PROFIT RISES
Procter & Gamble increased sales of staples from laundry
detergent to toothpaste in its most recent quarter, sending shares
higher despite a warning that growth will be spotty in the months
ahead.
ONEWEB IN TALKS WITH JAPAN'S SOFTBANK ABOUT POTENTIAL LINKUP
OneWeb, a satellite-internet startup whose backers include
Airbus and entrepreneur Richard Branson, is in talks with Japan's
SoftBank Group about a potential strategic linkup, according to
people familiar with the matter.
KERING, PARENT OF GUCCI AND YSL, POSTS A 10.5% JUMP IN SALES
French conglomerate Kering said Tuesday its third quarter sales
were up 10.5% compared with the same period last year, as growth
was supported by its main brand Gucci and smaller house Yves Saint
Laurent.
SPRINT'S LOSS NARROWS ON HIGHER REVENUE
Sprint Corp. reported a narrower loss in the latest quarter on
higher revenue as the wireless carrier continued to add
customers.
MARK CARNEY: MARKETS SHOULD NOT EXPECT CHANGE IN BANK OF ENGLAND'S GOALS
Bank of England Gov. Mark Carney said that participants in
financial markets have no reason to expect a change in the central
bank's inflation-fighting remit.
MERCK PROFIT RISES ON CANCER DRUGS, VACCINES
Merck posted increases in revenue and profit as a closely
watched cancer treatment and vaccines bolstered results.
LOCKHEED MARTIN REVENUE SOARS, AND IT BOOSTS GUIDANCE
Lockheed Martin said its revenue surged more than expected in
the latest quarter. It boosted its quarterly dividend 10% to $1.82
per share and increased its share repurchase program by $2
billion.
KKR SWINGS TO A PROFIT, BUT MUST SHARPEN ITS INVESTMENT EYE
Rising markets boosted the value of New York private-equity firm
KKR's buyout investments, contributing to a third quarter that
exceeded expectations. But the same forces that have buoyed its
investments are forcing the firm to look harder for companies to
buy.
3M CUTS OUTLOOK AMID FLAT SALES
3M trimmed sales and earnings outlooks for 2016 and sees
lackluster economic growth continuing into next year.
JETBLUE PROFIT RISES AS PASSENGER TRAFFIC INCREASES
JetBlue Airways Corp. said its third-quarter profit edged higher
as passenger traffic increased and fuel costs remained low.
BAKER HUGHES SHARES RISE AS LOSS NOT AS WIDE AS FEARED
Baker Hughes Inc. said its third-quarter loss widened on charges
related to its cost-cutting efforts and other items as the
oil-field services company's revenue was hurt by continued weak
demand and pricing pressures.
CIT REVENUE INCREASES
CIT Group said its quarterly revenue increased and expenses were
nearly flat as the bank continues to work to remake itself.
GERMANY'S THYSSENKRUPPTO SELL BRAZILIAN STEEL PLANT TO TERNIUM
German engineering giant Thyssenkrupp is in talks with Ternium
to sell its large steel plant in Brazil, a step that would finish
unwinding the German company's unsuccessful investment push in the
Americas, according to people familiar with the matter.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
U.S. News
FED'S TASK NEXT WEEK: SIGNAL DECEMBER RATE RISE
Federal Reserve officials, wary of raising short-term interest
rates amid the uncertainty surrounding the U.S. presidential
election, are likely to stand pat at their November policy meeting
and remain focused on lifting them in December.
Markets Main
BIG U.S. RETAIL BANK OPERATIONS UNDER SCRUTINY AFTER WELLS SCANDAL
The Office of the Comptroller of the Currency earlier this month
sent formal letters to large and regional banks seeking information
about sales practices and incentive-compensation structures
following the Wells Fargo scandal.
(END) Dow Jones Newswires
October 25, 2016 13:01 ET (17:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.