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☆ Here are Tuesday's biggest analyst calls of the day: Tesla, Amazon, Alphabet, Carvana, Target & more
▼ + stars: | 2022-10-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Wedbush downgrades Carvana to neutral from buy Wedbush said in its downgrade of Carvana that it sees severe cash burn and deteriorating market conditions. Jefferies upgrades Target to buy from hold After a change in analyst coverage, Jefferies upgraded the big box retailer and said it sees "margin improvement." Goldman Sachs reiterates Chipotle as buy Goldman said the stock is too compelling to ignore heading into earnings next week. " Deutsche Bank reiterates Microsoft as buy Deutsche Bank said Microsoft is still the "best house on the block" heading into earnings next week. " Barclays reiterates Amazon as overweight Barclays sad investors should buy the stock ahead of earnings later this month.

☆ Hurricane Ian claims likely to push Swiss Re to Q3 loss
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

CFO John Dacey of the world's second largest reinsurer Swiss Re addresses a news conference to present the company's full year results in Zurich, Switzerland February 21, 2019. REUTERS/Arnd WIegmannSummarySummary Companies Swiss Re estimates Hurricane Ian claims at around $1.3 billionExpects Q3 net loss of around $500 millionSees total Hurricane Ian claims for industry at $50 bln-65 blnZURICH, Oct 18 (Reuters) - Swiss Re (SRENH.S) forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately $1.3 billion. Register now for FREE unlimited access to Reuters.com RegisterSwiss Re estimated the preliminary total insured market loss from Hurricane Ian at $50 billion–$65 billion. "Swiss Re maintains its very strong capital position, with Group (Swiss Solvency Test) ratio of 274%, as of 1 July 2022. Berenberg analyst Kathryn Fear cut her estimate for 2022 net income to $947 million from $1.72 billion.

☆ Biden administration to provide $2 mln to Cuba for Hurricane Ian relief
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Oct 18 (Reuters) - The Biden administration will provide $2 million to Cuba for emergency relief efforts following Hurricane Ian, the State Department said on Tuesday. The United States will work with independent organizations to provide the aid, State Department spokesperson Ned Price said in a statement. Register now for FREE unlimited access to Reuters.com Register"We stand with the Cuban people as they work to recover from this disaster," Price said. U.S. President Joe Biden has promised to re-engage with Cuba after years of tensions between Havana and Washington. But Cuba's crackdown following widespread protests on the island last July led instead to sanctions on Cuban officials.

☆ Dangerous flesh-eating bacterial infections increased in Florida after Hurricane Ian
▼ + stars: | 2022-10-18 | by ( Carma Hassan | ) edition.cnn.com time to read: +3 min

CNN —An increase in infections with a rare flesh-eating bacteria was reported in Florida in the days after Hurricane Ian due to catastrophic flooding from the storm. Ian made landfall as a Category 4 storm on September 28 in Lee County, which includes Fort Myers and Sanibel Island in Southwest Florida. The Florida Department of Health in Lee County warned residents of the risks of Vibrio vulnificus on October 3. “DOH-Lee is observing an abnormal increase in cases of Vibrio vulnificus infections as a result of exposure to the flood waters and standing waters following Hurricane Ian. Since September 29, 2022, 26 cases of Vibrio vulnificus associated with Hurricane Ian have been reported to DOH-Lee.

☆ Get ready to see orange juice prices spike at the grocery store thanks to Hurricane Ian
▼ + stars: | 2022-10-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Orange juice prices are projected to spike due to the aftermath of Hurricane Ian. Florida is a major producer of citrus, but the USDA estimates a 32% decrease in production this upcoming season. Florida growers have been adapting to challenges for decades caused by natural disasters and invasive insects. Central Florida, home to sprawling citrus groves responsible for the vast production of fresh oranges and orange juice across the country, took a hit when Hurricane Ian recently ravaged the state. And although prices are climbing and citrus might be in short supply, the demand for vitamin C is still there.

FORT MYERS BEACH, Fla.—Trixie Parkes’s 1976 wood-framed cottage long served as her home and main source of income, because she rented two units on the top floor to tourists. But when Hurricane Ian tore through in late September, it destroyed most of the first floor and gouged a gaping hole in the second-floor walls. She didn’t have flood insurance, which she said became too expensive after Hurricane Irma in 2017. Ms. Parkes, 59, plans to sell her property. “Maybe somebody will come and offer me a lot of money and I can walk away.”

☆ Ron DeSantis will continue sending migrant flights to blue states after Florida recovers from Hurricane Ian damage, spokesperson says
▼ + stars: | 2022-10-17 | by ( Hannah Getahun | Kimberly Leonard | ) www.businessinsider.com time to read: +3 min

Florida will continue flying migrants out of the state, DeSantis' office confirmed Saturday. The state paid $1 million to charter migrant flights to Delaware and Illinois, documents show. Fenske told the Associated Press the program is active as officials responded to Hurricane Ian, a Category 4 hurricane that devastated Florida and other southeastern states. "While Florida has had all hands on deck responding to our catastrophic hurricane, the immigration relocation program remains active," Fenske told the Associated Press. According to documents released Friday by the Florida Department of Transportation, Florida paid $1 million to set up two more flights to Delaware and Illinois.

☆ Elon Musk says SpaceX will let people donate money to fund Starlink for places in need of internet
▼ + stars: | 2022-10-17 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elon Musk said SpaceX will add a donate option to Starlink for areas in need of internet. Musk said SpaceX was burning through $20 million per month to maintain Starlink in Ukraine. He also tweeted that SpaceX was burning through around $20 million per month to maintain Starlink in Ukraine. "The hell with it," he said, adding that SpaceX will go on funding the Ukraine government for free, despite the amount of money Starlink continues to lose. SpaceX, designed to provide internet to rural locations, also delivered 120 Starlink internet kits to southwest Florida in the aftermath of Hurricane Ian, according to Gov.

TikTok star Emmanuel the emu is battling Avian Influenza, his caretaker, Taylor Blake, tweeted Saturday. The virus has now claimed the lives of 99% of the farm's birds and left Emmanuel fighting for his life since Wednesday. "I will do anything and go into any amount of debt to save his life," Blake tweeted about her best friend. On Sunday, Blake tweeted that Emmanuel is making progress -- sitting up by himself, taking backwards steps and putting pressure on his right foot. “Emmanuel, don’t do it!” Blake often says to the emu when he crosses in front of her and the iPhone camera.

☆ After Hurricane Ian, Salvage Firm Pulls Yachts Out of Swimming Pools and Mangrove Trees
▼ + stars: | 2022-10-16 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

An aerial view of damage from Hurricane Ian in Florida’s Fort Myers Beach seen last week. Heather O’Brien makes a living rescuing small boats and yachts in the waters near Fort Myers, Fla. Since Hurricane Ian, she has been busy. On a typical weekend this time of year, Ms. O’Brien might get a dozen or so calls for help, mostly from locals who need a tow because their boat ran out of gas or their battery was depleted. After Ian, she received more than 2,000 calls, many of a much more serious nature.

☆ Biden to campaign for DeSantis rival Crist in November Florida trip
▼ + stars: | 2022-10-16 | by ( Jeff Mason | ) www.reuters.com time to read: +2 min

WILMINGTON, Del., Oct 16 (Reuters) - U.S. President Joe Biden will take on a potential 2024 presidential rival, Florida's Governor Ron DeSantis, in a November campaign event for the Democratic candidate for governor, Charlie Crist. Biden and DeSantis have publicly played nice with each other in recent weeks in the aftermath of Hurricane Ian. During a joint appearance on a trip to survey storm damage in Florida, Biden said the two leaders had worked "hand-in-glove." DeSantis is popular in the Republican Party and has clashed with Biden on multiple policy issues including COVID-19 vaccines, immigration, and abortion rights. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jeff Mason; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Solar Power Stayed On as Hurricane Ian Knocked Lights Out Across Florida
▼ + stars: | 2022-10-15 | by ( Jennifer Hiller | ) www.wsj.com time to read: 1 min

Neighborhoods powered by solar panels with backup batteries weathered the direct onslaught of Hurricane Ian in Florida, utilities and developers said, keeping the lights on throughout the storm while millions of others lost power. At least three solar-powered communities near Fort Myers and Tampa made it through Ian without losing electricity. Some also had hardened electrical infrastructure, including buried lines and stronger power poles, that helped them weather the storm and its aftermath.

☆ Here are Friday's biggest analyst calls: Micron, Tesla, Apple, Sunrun, Netflix, Delta, Amazon & more
▼ + stars: | 2022-10-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said the tech giant continues to be a "highly debated stock" among investors the firm talked to. " Loop initiates Micron as buy Loop says it sees upside potential for shares of Micron . Citi reiterates Netflix as buy Citi said it's standing by its buy rating on Netflix heading into earnings later this month. Morgan Stanley names AbbVie as a catalyst driven idea Morgan Stanley said it sees a new "pipeline opportunity" as the biopharma company looks to develop new products. " Morgan Stanley reiterates Sunrun and Plug Power as overweight Morgan Stanley said the selloff in clean tech is overdone.

☆ Cowen upgrades Delta as travel recovery continues, says shares can rally nearly 80%
▼ + stars: | 2022-10-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Delta Air Lines ' shares are due for takeoff as the industry's recovery continues its rebound from pandemic lows, Cowen says. Analyst Helane Becker upgraded shares of the airline to outperform from market perform, saying in a note to clients Friday that increased business and international travel as pandemic restrictions ease should provide solid tailwinds for Delta moving forward. Cowen's $54 price target suggests shares can rally about 78% despite dropping more than 22% this year. Along with the upgrade, Cowen upped its 2022 and 2023 earnings per share estimates to $2.84 and $7, respectively. Airline stocks suffered during the early days of Covid-19 as lockdowns halted most travel and resurging cases dented consumer appetite.

☆ You have until next week to claim your relief check in some states—how to get your money before the deadline
▼ + stars: | 2022-10-14 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

However, in some states, eligibility is contingent on filing a tax return by the deadline, Oct. 17. Coloradans who haven't yet submitted a 2021 tax return can still receive this check if they file before Oct. 17. MaineFull-year residents who file a 2021 tax return by Oct. 31, 2022, will qualify for $850 relief checks mailed to their home. IdahoThe state has redirected a state tax surplus into bonus rebates for residents who filed income taxes for both the 2020 and 2021 tax years. Another tax rebate from earlier this year pays out $75 per taxpayer and each dependent, or 12% of income taxes paid, whichever is greater.

☆ Mike Lindell went to Florida to distribute 12,000 pillows for hurricane relief and promoted his products in front of a wrecked home
▼ + stars: | 2022-10-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Mike Lindell was seen giving out pillows in Fort Myers, Florida, in the aftermath of Hurricane Ian. He told Insider his company was sending over 12,000 bedding items to Florida. Lindell told Insider that his company 12,386 items to Florida, including 7,264 MyPillows, 2,566 "Bible pillows," and 2,556 blankets on a truck that got to Florida on Thursday. This is not the first time that Lindell has sent pillows to support a cause. The shipment of the 12,000 pillows was later delayed at a border crossing from Michigan to Canada.

☆ Fact Check-Image does not show an alligator swimming in a Florida home after Hurricane Ian
▼ + stars: | 2022-10-13 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image shared on social media purports to show an alligator in a Florida home, with some posts on social media saying it was after Hurricane Ian. But the image has been digitally manipulated using a photo of a crocodile in Australia. The Daily Mail credits Adelaide River Cruises for the photo (here), a river tour company based in the Northern Territory of Australia. “We know every crocodile in our part of the river.”The photo does not show an alligator in Florida after Hurricane Ian. Read more about our work to fact-check social media posts (here).

☆ Soaring rent, food costs keep U.S. inflation on front burner; labor market tight
▼ + stars: | 2022-10-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Food prices increased 0.8%, with the cost of food at home advancing 0.7% amid rises in all six major grocery store food groups. The war in Ukraine also poses an upside risk to food prices. In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August, decelerating for a third straight month. The so-called core CPI is being largely driven by the higher costs for rental accommodation. The core CPI jumped 6.6% in the 12 months through September, the most since August 1982, after rising 6.3% in August.

☆ Electric vehicles will become power plants on wheels by providing backup power for homes and the grid
▼ + stars: | 2022-10-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Electric vehicles in the coming years will be capable of powering homes and the grid. Backup power from EVs can help during storms and support electric grids strained by extreme weather. A new business unit, GM Energy, has a line of electric-vehicle chargers that can also feed power back to homes and the electric grid. "There's a value stack in EV batteries: supporting the grid, serving as backup power for your home, and also reducing greenhouse-gas emissions." The Ford F-150 Lightning also has bidirectional charging, which proved useful after Hurricane Ian pummeled southwest Florida's power grid.

☆ Stocks making the biggest moves midday: Digital World, Domino's, Revlon, Albertsons and more
▼ + stars: | 2022-10-13 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

It was a 52-week low for the stock. Applied Materials – The chip stock turned 4% higher after hitting a 52-week low earlier on disappointing revenue outlook. Otonomy — The biopharmaceutical company shot down 56.1% after the company said a drug for hearing loss showed "no clinically meaningful improvement." Dish Network — The TV and wireless company hit a 52-week low, down 2%. The stock was at a 52-week low during day trading.

☆ Delta forecasts another profit after summer boom drives record revenue
▼ + stars: | 2022-10-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A Delta Airlines Airbus A-350 aircraft, flight number DL40 bound for Los Angeles takes off from Kingsford Smith International Airport on July 26, 2021 in Sydney, Australia. Delta Air Lines expects to post another profit in the last quarter of the year and said both leisure and business travel continue to recover. For the third quarter, Delta reported net income of $695 million, or $1.08 per share, on record revenue of close to $14 billion, the results of a surge in summer travel with high fares to match. Adjusting for one-time items, Delta posted earnings per share of $1.51, while adjusted revenue came in at $12.8 billion, 3% above 2019 levels, despite a smaller schedule. Adjusted revenue: $12.84 billion versus $12.87 billion expected.

☆ Coastal communities losing billions in tax revenue to rising sea levels
▼ + stars: | 2022-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoastal communities losing billions in tax revenue to rising sea levels“We don’t even know if we’re going to be able to rebuild.” As the Hurricane Ian cleanup efforts continue in southwest Florida, some business owners there are already cutting their losses. CNBC's Diana Olick reports on what Florida stands to lose.

☆ Stocks making the biggest moves premarket: Delta, Walgreens, Applied Materials and others
▼ + stars: | 2022-10-13 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Walgreens (WBA) – Walgreens rallied 6.8% in the premarket after the drugstore operator reported better-than-expected quarterly profit and revenue. Applied Materials (AMAT) – Applied Materials lowered its current-quarter revenue outlook, with the chip manufacturing equipment maker saying it would be negatively impacted by new U.S. regulations restricting exports to China. Applied Materials lost 2% in premarket action. Digital World Acquisition (DWAC) – Digital World Acquisition surged 11.2% in the premarket after Google approved Truth Social – the social media platform backed by former President Donald Trump – for inclusion in its app store. Dish Network (DISH) – Dish gained 1% in premarket action after blank-check firm CONX Corp. said it was in talks to buy Dish's retail wireless unit Boost Mobile.

Six-year-old Tahjir Burrowes wandered out of his Florida home on Oct. 5, wearing only a diaper and a T-shirt, and headed straight for a hurricane-flooded canal. His 17-year-old brother, Tahjon, knew something was wrong as soon as he got out of the bathroom and could not find his little brother anywhere. “Mom, mom, mom! Their mother, Lachera Burrowes, immediately jumped in her car and drove to the canal near their Lehigh home. Tahjon, left, and Tahjir Burrowes survey their Lehigh home, shortly after Hurricane Ian hit.

The upshot: The price of orange juice, which has already climbed to an all-time high of $2.90 per 12-ounce can because of soaring food inflation, could go even higher. "We’re factoring in a very tight [crop production] situation here," said Jack Scoville, vice president at PRICE Futures Group in Chicago. Tristan Wheelock / Bloomberg via Getty ImagesFlorida oranges serve as the feedstock for most orange juice produced in the U.S. He also predicted that more Americans will switch to Vitamin C supplements as the cost of orange juice begins to climb further. Both of those factors could ultimately prevent orange juice prices from rising faster, he said.

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