Online professional-services networking company LinkedIn Corp. is to deliver its 3rd-quarter results after the close of trading today. Analysts are expecting LinkedIn to post per-share earnings of 47 cents, up from 39 cents in the year-earlier period. The company is seen reporting quarterly sales of $558 million, up 42% from $393 million in the Q3 of last year.
Hewlett-Packard finally delivered on its long-awaited promise to offer 3D printing devices, revealing yesterday a new large, industrial printer dubbed Multi Jet Fusion. The company claims that the new 3D printing technology is 10 times faster than existing 3D printers, is more affordable and prints stronger products than the current rivals on the market. The industrial device will become available to the average consumer in 2016.
Businesses and consumers across the euro became slightly more optimistic about their prospects this month. The region’s Economic Sentiment Indicator rose to 100.7 points in October from 99.9 last month, a fresh sign that the currency area's economy is unlikely to slide back into contraction. Recent surveys and data releases suggest that grim fate has likely been avoided for now, even if the economy may have contracted modestly in the third quarter.
The Russian currency (ruble) rebounded sharply in the last hours from record lows earlier in the session. The USD/RUB pair returned back below 42 after record gains following Fed's latest policy decision that lifted the greenback. Russia’s Central Bank is to decide on its interest rates on Friday and the consensus is for a rise by 50 basis points to 8.50%. USD/RUB fell 5.3% to 41.46 so far today.
US stock futures pointed to a volatile start for Wall Street today, after most analysts saw the latest statement by the Federal Reserve as more hawkish than expected. European stocks reversed gains, while Asian stocks saw mostly moderate gains, outside of a drop for Hong Kong’s Hang Seng Index.
Shares of Barclays Plc opened 1% higher in today’s trade before reversing gains after the bank published its 3rd-quarter results. The UK’s second biggest lender by assets said 3rd-quarter profit unexpectedly rose as the bank set aside GBP 500 million to settle probes into currency markets.
October Industrial Confidence is -5.1 points, it was expected to be -5.5 points versus -5.5 points previously.
October Economic Confidence is 100.7 points, it was expected to be 99.7 points versus 99.9 points previously.
Visa Inc., the world’s largest payments network, posted fiscal 4th-quarter profit that beat analysts’ estimates as customer spending abroad improved. The company also authorized a new $5 billion stock re-purchase program. Visa shares rose 4% in pre-market trading.
Microsoft Corp said yesterday it cut about 3,000 jobs, completing its plan to shrink its workforce by 18,000, or 14% of its total staff, presented in July. The majority of the 18,000 jobs were in the phone handset business Microsoft bought from Nokia earlier in the year.
Coca-Cola Co. has placed a $500 million bet that it can revive sales of its soda brands in Southeast Asia, which have faced fierce competition. The US beverages giant agreed to buy a 29.4% stake in the Indonesian business of Coca-Cola Amatil Ltd., which plans to use the funds on new factories, warehouses and equipment.
Ukraine's efforts to unblock deliveries of Russian gas as winter started were hit a wall today as Moscow's negotiators demanded firmer commitments from the European Union to cover Kiev's pre-payments for energy.
While August brought some terrible data about the German economy and experts have drastically cut their forecasts for Europe's powerhouse, subsequent reports haven't been so bad. The nation’s labour agency just announced that seasonally adjusted jobless count in Germany fell by 22,000, while economists expected a rise of 4,000. Plus, GfK's forward-looking confidence indicator surged in November, when it was supposed to decline. Those reports show the German growth machine is still running.
Volkswagen AG posted a sharply higher profit and steady sales growth in the 3 months through September, reaffirming that Europe's biggest automotive group is on track reach its target of 10 million vehicles sales this year – 4 years earlier than expected. Net profit attributable to shareholders rose 58% to EUR 2.93 billion in the quarter, on revenue up 4.1% to EUR 48.9 billion.
Facebook Inc.'s shares closed down 6.2% to $75.83 a share Wednesday’s trading, a day after the company announced aggressive spending plans for next year. But analysts were taking a more upbeat view than investors, saying the significant spending will generate long-term growth and reinforce the social network's market dominance. No brokerages cut their estimates on Facebook’s stock following the 3rd-quarter results, and several said the share price drop represented a good buying opportunity.
October Unemployment Rate is 6.7%, it was expected to be 6.7% versus 6.7% previously.
October Unemployment Change is -22 000, it was expected to be 4 000 versus 12 000 previously.
French companies Alcatel Lucent and Renault pushed European shares higher in early trade today boosted by upbeat corporate news. Auto-maker Renault upgraded its European auto market growth projection, while the telecoms equipment maker Alcatel-Lucent improved its gross profit margin in the latest quarter. Futures on France's CAC 40 index rose 1% to 4,137.8 points, and those on the German DAX 30 index rose 0.7% to 9,146.7. The only downside was the UK’s FTSE 100 benchmark that fell 0.6% to 6,416.2 points today dragged by sharp losses in the mining sector.
An unexpectedly upbeat quarterly earnings report from the French telecommunications equipment company Alcatel-Lucent SA pushed its stock up 11.9% to EUR 2.278 a share in today’s European trading.
Kraft Foods Group Inc. said its 3rd-quarter earnings fell 11% as the US packaged-foods maker faced higher commodity costs. Revenue slightly missed expectations. Kraft’s shares edged down 2.8% in after-hours trading. Through yesterday's close, the company’s stock has gained nearly 6% so far this year.
Britain's Serious Fraud Office (SFO) has opened a formal criminal investigation into accounting errors at Tesco Plc. This could further tarnish the reputation of the country's biggest grocery chain.
October Flash HICP (Harmonized Index of Consumer Prices) is -0.2% on a yearly base, it was expected to be -0.2% versus -0.3% previously.
The change in the annual Consumer Price Index was -0.1% in October, according to a flash estimate. It was expected to be 0.0% following the final estimate for the previous month of -0.2%.
First estimate of Gross Domestic Product (GDP) for the third quarter is 1.6% on a yearly base, it was expected to be 1.6% versus 1.2% previously.
First estimate of Gross Domestic Product (GDP) for the third quarter is 0.5% on a quarterly base, it was expected to be 0.5% versus 0.6% previously.
Microsoft has unveiled its first wearable device that can track a user's sleep and exercise as well as connect to health trackers on smartphones. Microsoft's new fitness band can last for two days on a single charge and will retail for $199 on the company's online store.
German airline Deutsche Lufthansa AG said today that it wouldn't meet its already lowered earnings targets for 2015 because of a weaker global economic outlook, but confirmed its targets for the current year of EUR 1 billion. Lufthansa now sees its 2015 operating profit "significantly above the result of 2014," compared with its previous EUR 2 billion target.
German pharmaceutical giant Bayer AG today lifted its full-year earnings projection as it reported a 13% increase in 3rd-quarter net profit, boosted by strong growth in its health-care and crop-science divisions. The company expects full-year sales to rise to EUR 42 billion, up from a previous estimate of EUR 41 billion.
While making a widely expected decision to end its monthly bond-buying at the end of this month, the US Federal Reserve said in its statement that interest rates (currently near zero) could rise sooner or later, depending on how the American economy performs. The US central bank also dropped the word "significant" in its description of the underutilization of the labour market, a sign Fed is more optimistic about the country’s jobs market. The news lifted sharply the US dollar. The EUR/USD pair tumbled 1.2% to 1.2586, while spot gold fell 1.7% to $1,204.71 a troy ounce after Fed’s statement.
• Today, at 8:55 GMT, the German Unemployment Change will be released. Economists expect the total number of unemployed people to rise by 4,000 in October from the previous month, when it increased by 12,000.
• At 12:30 GMT, the US Advance GDP data will be released. The gross domestic product (GDP) is a measure of the US output and represents the value of all goods and services produced in the economy. The indicator is expected to show an annual level of 3.0% during the third quarter from the previous one when it rose 4.6%. Better data would support the US dollar.
• At 12:30 GMT, the US Jobless Claims will be released as well. The median forecast is for a rise of 2,000 to 285,000 claims. Less jobless claims would support the US dollar.
• At 13:00 GMT, the Governor of the US Federal Reserve Janet Yellen is scheduled to speak. Her speeches have always attracted traders’ attention and can cause strong market volatility.
• At 13:00 GMT, the German inflation data will be announced according to preliminary estimates. Analysts expect the Consumer Price Index to fall 0.1% in October from September when it was unchanged.
• The US company MasterCard Inc is scheduled to release its financial results before the opening bell Thursday, while GoPro Inc, LinkedIn Corp, Microchip Technology Inc and Starbucks Corp. are going to announce their quarterly reports after the close of trading.