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☆ P&G’s pricing power hangs by a floss
▼ + stars: | 2022-10-19 | by ( Amanda Gomez | ) www.reuters.com time to read: +3 min

Third-quarter earnings show a company whose pricing power is hanging on by a piece of floss. That suggests people are about to ditch some of their few remaining small joys, even when it comes to necessary goods. The $300 billion consumer goods company led by Jon Moeller said on Wednesday that net sales increased 1% to $20.6 billion, and much of that increase came from jacking up prices. It suggests that the Cincinnati-based company is maintaining some pricing power. Follow @alpgomez on TwitterCONTEXT NEWSProcter & Gamble on Oct. 19 reported net sales of $20.6 billion for the quarter ended Sept. 30.

☆ Hasbro defines discretionary
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Oct 18 (Reuters Breakingviews) - Hasbro (HAS.O) toys are absolutely, positively not essential. Chief Executive Chris Cocks partly attributed the decline to over-ordering in the second quarter. Take the gains in that quarter and move them to the third quarter, and sales would’ve still fallen 14% year-over-year. Meantime prices are rising dramatically, and though Hasbro tried to pass on some of those costs, people in the market for Magic: The Gathering and Play-Doh pulled back spending. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Goldman’s brainwaves are best left for its clients
▼ + stars: | 2022-10-18 | by ( John Foley | ) www.reuters.com time to read: +4 min

A strategic swerve is an acknowledgement that brainwaves are best pitched to clients than executed by the Wall Street firm itself. Jamie Dimon’s bank drops around $12 billion a year on technology, an entire quarter of Goldman’s revenue. It’s a U-turn, but that’s okay since Goldman is still a leader on the bread-and-butter Wall Street stuff. The Wall Street firm made an 11% return on equity. Revenue from fixed-income trading increased 41% year-on-year, and equities trading revenue slipped 14%.

☆ Rupert Murdoch’s odd reunion simplifies succession
▼ + stars: | 2022-10-17 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Oct 17 (Reuters Breakingviews) - Rupert Murdoch is seeking to stitch his empire back together again. The media mogul’s family trust wants to reunite News Corp (NWSA.O) and Fox (FOXA.O) almost a decade after they split. The boards of News Corp and Fox said Friday they had formed special independent committees to explore a potential merger. Rupert Murdoch and his family trust control approximately 42% of voting shares in Fox and 39% of voting shares in News Corp. The companies split in 2013.

☆ Ye becomes Donald Trump’s social media frenemy
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

The rapper formerly known as Kanye West is buying social media firm Parler for an undisclosed price. That may be partly because Trump has launched his own app, Truth Social. That gives the former president’s followers even less reason to engage with Parler and Truth Social. If Musk wriggles out of the Twitter deal, Parler will still have to compete for Trump’s attention. That leaves Ye looking like the least promising of the three would-be social media tycoons.

☆ These stocks reporting this week typically beat and gain on earnings days
▼ + stars: | 2022-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

When looking for companies with a winning earnings history, CNBC Pro reviewed data from Bespoke Investment Group to find names that beat per-share earnings estimates 75% of the time or more and had an average gain on earnings day of at least 1%. Shares are down almost 50% year to date, but have about 31% upside to the average analyst target price, according to FactSet. The bank has beaten Wall Street expectations 84% of the time and has an average 1.7% rally on earnings days. Citizens Financial's shares are down about 23% so far this year and has 20% upside from the average analyst price target, according to FactSet. The stock is down about 15% year to date and has about 16% upside to the average price target, according to FactSet.

☆ Cramer’s week ahead: Take any chance to sell stocks during a busy week of earnings
▼ + stars: | 2022-10-14 | by ( Krystal Hur | ) www.cnbc.com time to read: +4 min

CNBC's Jim Cramer on Friday advised investors to take any chance to sell stocks next week as the busy earnings season continues. Monday: Bank of AmericaQ3 2022 earnings release at 6:45 a.m. Tuesday: Goldman Sachs, Johnson & Johnson, NetflixGoldman SachsQ3 2022 earnings release at 7:30 a.m. Johnson & JohnsonQ3 2022 earnings release between 6:25 and 6:40 a.m. Friday: VerizonQ3 2022 earnings release at 7:30 a.m.

☆ Big U.S. banks shoulder first-world problems
▼ + stars: | 2022-10-14 | by ( John Foley | ) www.reuters.com time to read: +4 min

JPMorgan (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) have what might be thought of as first-world problems. The big banks’ shares are down roughly 40% this year, while the S&P 500 Index (.SPX) is down just over 23%. JPMorgan’s earnings fell 17% year-on-year to $9.7 billion, but revenue increased 10% driven by a 22% rise in fixed-income trading revenue. Wells Fargo’s earnings fell 31%, as it also took a $2 billion charge to litigation, customer remediation and regulatory issues. Wells Fargo and JPMorgan both reported a 3% decline in deposits for the quarter ending Sept. 30, compared with the quarter ending in June.

☆ What Cramer is watching Friday — Wells Fargo crushes it, bond yields sink on flat retail sales
▼ + stars: | 2022-10-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club holding Wells Fargo (WFC): net interest margin (NIM) in the third quarter 2.83% versus 2.68% expected. Revenue $19.51 billion versus $18.81 billion. Net interest income (NII) in Q3 $12.1 billion versus $11.6 billion expected. Guidance for Q4 NII $12.9 billion versus $12.42 billion expected. Q3 net interest income reported: $17.52 billion versus consensus $16.92 billion.

☆ Investing Club: The week in review, the week ahead — Oct. 14, 2022
▼ + stars: | 2022-10-14 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Club trades for the week Monday Bought 20 shares of Constellation Brands (STZ); Trust owns 390 shares of STZ. On Wednesday, the September producer price index was reported to have risen 0.4% monthly, double the expectation. On Thursday, the September consumer price index was also reported to have increased 0.4% monthly, above the expectation for a 0.3% increase. Excluding automobile sales, sales were up 0.1% slightly ahead of the expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ October's wild trading could give way to a new stock rally, as earnings roll out in the week ahead
▼ + stars: | 2022-10-14 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

But Emanuel sees the chance for a 17% to 20% rally in the S & P 500. The S & P 500 was down about 0.9% for the week, as of Friday afternoon, and it was hovering just above 3,600. S & P 500 earnings are expected to grow by 3.6% for the third quarter, based on actual reports and estimates, according to Refinitiv. Without the boost from more than doubling profits from energy companies, S & P earnings would decline by 3.1%. Week ahead calendar Monday Earnings: Bank of America , Bank of NY Mellon, Charles Schwab 8:30 a.m.

☆ Inflation Tracker: When Will Prices Stop Going Up?
▼ + stars: | 2022-10-13 | by ( Brian Whitton | Bourree Lam | ) www.wsj.com time to read: 1 min

We all are feeling the punch of surging prices in one way or another. The Journal has put together a price tracker of common items that many Americans buy monthly to see the direction of prices that matter to you. This living page will automatically update with the most recent prices from the CPI as new numbers are released.

☆ Analysis: China faces its "Sputnik" moment as US export curbs deal a blow to its chip ambitions
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +6 min

The measures are set to undermine China's efforts to develop its own chip industry aimed at reducing its reliance on foreign-made chips. These are the questions," says Marco Mezger, a consultant in Taiwan who tracks the global memory chip sector. Washington is also scrambling to tackle unintended consequences of its new export curbs, people familiar with the matter said. Hours before the new restriction took effect, South Korea's SK Hynix (000660.KS) said it got U.S. authorization to receive goods for its chip production facilities in China without additional licensing imposed by the new rules. Yet business at toolmaking firms servicing Chinese customers has already slowed dramatically, leaving their staff with little work to do but creating an opening for Chinese equipment makers seeking to catch up with western rivals, sources said.

☆ Punishingly strong dollar is still a fair trade
▼ + stars: | 2022-10-13 | by ( John Foley | ) www.reuters.com time to read: +6 min

NEW YORK, Oct 13 (Reuters Breakingviews) - Everybody wants the dollar; everybody hates the dollar. That makes dollar assets relatively more attractive and puts pressure on other central banks to raise rates too. The strong dollar kicks other countries in the shins, with varying degrees of pain. Follow @johnsfoley on TwitterCONTEXT NEWSThe International Monetary Fund and World Bank are holding their annual meetings in Washington from Oct. 10 to Oct. 16. The dollar is up 21% since October 2020, according to the U.S. Dollar Currency Index, which measures the greenback against a basket of six currencies.

Applied Materials became the first U.S. semiconductor company to put a dollar figure to the perceived impact. Register now for FREE unlimited access to Reuters.com RegisterChina accounted for 29% of Applied Materials' total sales in 2021, according to Evercore ISI analyst C.J. Applied Materials said the restrictions would reduce its fourth-quarter net sales by about $400 million, plus or minus $150 million. Adjusted profit is expected to be $1.54 to $1.78 per share, down from an earlier forecast of $1.82 to $2.18. Applied Materials' warning comes as the global chip industry already faces major headwinds from tumbling demand post-COVID in computers, smartphones and other electronic devices.

☆ U.S. Suppliers Halt Operations at Top Chinese Memory Chip Maker
▼ + stars: | 2022-10-12 | by ( Yoko Kubota | Raffaele Huang | ) www.wsj.com time to read: 1 min

BEIJING–U.S. chip equipment suppliers are pulling out staff based at China’s leading memory chip maker and pausing business activities there, according to people familiar with the matter, as they rush to assess the impact of Commerce Department semiconductor export restrictions. State-owned Yangtze Memory Technologies Co. is facing a freeze in support from key suppliers including KLA and Lam Research the people said. The suspensions follow last week’s sweeping curbs imposed by the U.S. on China’s chip sector, ostensibly to prevent American technology from advancing China’s military power, though the impact might reach further into the industry.

☆ Applied Materials cuts quarterly revenue, profit estimates on new China export curbs
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Applied Materials Inc (AMAT.O) said on Wednesday export curbs related to China's chip industry would result in a net sales hit of $250 million-$550 million in the quarter ending Oct. 30, with a similar impact expected in the following three months. Register now for FREE unlimited access to Reuters.com RegisterApplied Materials said the regulations would reduce its fourth-quarter net sales by about $400 million, plus or minus $150 million. Adjusted profit is expected to be $1.54 to $1.78 per share, down from an earlier forecast of $1.82 to $2.18. "Applied is pursuing additional export licenses and authorizations where needed," the company said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arunima Kumar and Yuvraj Malik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

For several nights the sound of 34-year-old Panya Khamrap’s 9 mm pistol cracked the silence in the sleepy village of Tha Uthai, neighbours said. Another neighbour said that days before his rampage the village chief warned Panya about his behaviour. They argued and the village chief was afraid, said the neighbour, Suwan Tonsomsen. Another neighbour told Reuters he had seen Panya's mother with his degree certificate. Teachers in the nursery had put the children down for their nap by the time Panya arrived at around 12:30 p.m.

☆ Westinghouse deal will overpower immediate fallout
▼ + stars: | 2022-10-12 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

NEW YORK, Oct 12 (Reuters Breakingviews) - A mushroom cloud is rising over a $7.9 billion nuclear deal. Brookfield Renewable Partners (BEP.N) and Cameco (CCO.TO)agreed to buy Westinghouse Electric, sending the Canadian uranium miner’s shares tumbling by 15% on Wednesday. All told, this nuclear deal should be able to power through the immediate fallout. Brookfield Business Partners bought the company in 2018, after Westinghouse filed for bankruptcy protection from creditors the previous year. Brookfield Business Partners said it expects proceeds from the deal to equal six times its invested capital when combined with distributions received to date.

☆ HSBC extends Chinese private banking network to lure new digital millionaires
▼ + stars: | 2022-10-11 | by ( Selena | ) www.reuters.com time to read: +2 min

FILE PHOTO: Pedestrians wearing face masks following the coronavirus disease (COVID-19) outbreak, walk past a HSBC bank branch in Hong Kong, China February 22, 2022. HSBC sees robust demand for wealth management in Chengdu, capital of the western province of Sichuan with more than 21 million people. The bank has already launched private bank services in Beijing, Shanghai, Guangzhou and Shenzhen. “As a new class of HNW and ultra HNW individuals emerges from the vigorous development of Hangzhou’s digital economy, demand for international wealth management has also grown significantly,” Jackie Mau, head of global private banking at HSBC China, said in a statement. Beijing launched in late 2020 a crackdown that effectively halted Ant’s initial public offering that could have created more millionaires keen for wealth services.

☆ Exclusive: KLA to stop sales and service to China to comply with U.S. export curbs
▼ + stars: | 2022-10-11 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

The move underscores huge business headwinds facing chipmakers and chip equipment makers around the world, as the Biden administration published a sweeping set of export controls on Friday aimed at slowing China's progress in advanced chip manufacturing. The source added that the company would also cease supplying China chip plants owned by Intel (INTC.O) and SK Hynix, the world's second-largest memory chipmaker. SK Hynix reiterated its stance that it would seek a license under new U.S. export control rules for equipment to keep operating its factories in China. Another source at an overseas chip equipment company told Reuters that all of the major suppliers to fabs were working round-the-clock to assess the long-term impact of the regulations. Shares in KLA tumbled nearly 5% on Monday, hit by the latest U.S. export control measures.

HONG KONG, Oct 11 (Reuters Breakingviews) - Washington's sweeping technology curbs on China today will have ripple effects across global supply chains tomorrow. But the ban may prompt Chinese chipmakers to hasten their progress in the commoditised parts of the market, embedding firms like Semiconductor Manufacturing International (0981.HK) in global supply chains. The measures mark a huge escalation in President Joe Biden's efforts to hobble Beijing's chip advances. Essentially, any company that uses American equipment will be restricted from selling relatively high-tech semiconductors or tools to Chinese firms. And because nearly every factory relies on crucial hardware and software from U.S. suppliers like Lam Research (LRCX.O) and Applied Materials (AMAT.O), the latest move potentially sets back Chinese chipmakers by years, if not decades.

☆ China's 'liberal' Wang Yang seen as possible premier as reshuffle looms
▼ + stars: | 2022-10-11 | by ( James Pomfret | ) www.reuters.com time to read: +4 min

During his time in Guangdong, which borders Hong Kong, Wang made his mark by pushing an upgrade of rusting industries and touting socially inclusive policies. Wang was passed over for promotion to the Politburo Standing Committee in 2012, but as vice premier he helped oversee China's external economic relations including with the United States. YOUTH LEAGUELike Li Keqiang and Vice Premier Hu Chunhua - another premiership contender - Wang has ties to the Communist Youth League, a faction seen to be a rival to Xi's. In recent years under Xi, Wang has seemingly tempered his reformist tendencies, echoing the party's tough line on sensitive political issues including Taiwan, Xinjiang and Tibet, while expressing support for Xi. Register now for FREE unlimited access to Reuters.com RegisterReporting by James Pomfret; Editing by Tony Munroe and Lincoln Feast.

☆ Compass is in a precarious position. It's worth a fraction of its IPO valuation, it's never turned a profit, and employees say the former centerpiece of the business — its vaunted tech tools for agent
▼ + stars: | 2022-10-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +16 min

Reffkin (left) and Compass cofounder Ori Allon. Tech had been central to Compass' original missionFor years, Compass executives, including Reffkin, credited the company's tech with its meteoric rise in the residential-real-estate business. Though Compass' tech team still has 700 people, many more than any rival brokerage, the September layoffs seemed to initiate what insiders expect to be continuing cuts to the unit. "Robert is like Steve Jobs but without the insight," the veteran engineer who left Compass earlier this year said. Reffkin (left) and Allon ring the opening bell at the New York Stock Exchange.

☆ China tech shares sink as U.S. export curbs raise chip sector hurdles
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

The most immediate impact is likely to be felt by Chinese chipmakers, they said. The new regulations will now pose major hurdles for the two Chinese memory chipmakers, analysts said. A steep decline in tech shares led China's market down on its first post-Golden Week holiday trading on Monday. An index measuring China's semiconductor firms (.CSIH30184) tumbled nearly 7%, and Shanghai's tech-focused board STAR Market (.STAR50) declined 4.5%. SMIC dropped 4%, chip equipment maker NAURA Technology Group Co (002371.SZ) sank 10% by the daily limit, and Hua Hong Semiconductor plunged 9.5%.

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