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☆ Upbeat China Q3 GDP prompts most brokerages to raise their targets
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

A man walks past a street at Beijing's Central Business District (CBD) during morning rush hour, in Beijing, China April 18, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsOct 18 (Reuters) - Five big brokerages, including J.P.Morgan, raised their 2023 growth forecasts for China, after the country's economy grew at a faster-than-expected pace in the third quarter from a year earlier. Goldman Sachs, however, cut its view to bring it more in line with the target set by its peers. All six brokerages listed below have pegged their estimates above Beijing's 5% growth target for the year. Following are the forecasts from global brokerages:Compiled by the Broker Research team in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Goldman Sachs, Shounak Dasgupta Organizations: Beijing's Central Business, REUTERS, Broker Research, Thomson Locations: Beijing, China, Bengaluru

☆ Amazon rolls out robotic system at Houston warehouse to speed up deliveries
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 18 (Reuters) - Amazon.com (AMZN.O) said on Wednesday it was using a robotic system at one of its Houston warehouses to improve inventory management and speed up deliveries, building on its years-long bet that automation will help boost sales and worker safety. The technology, called "Sequoia", brings together a series of systems including mobile robots and robotic arms. Amazon said Sequoia can help identify and store inventory 75% faster, while reducing the time to process orders at a warehouse by as much as 25%. The company said it would begin testing a bipedal robot called "Digit" from Agility Robotics, a startup backed by Amazon.

Persons: Pascal, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, Walmart, Agility Robotics, Amazon, Ford, Thomson Locations: Lauwin, France, Houston, Bengaluru

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. J&J raised its annual profit forecast, helped by strong sales from its pharmaceutical business, and shares of the U.S. healthcare conglomerate were off about 1%. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, up from its previous view of $10.00 to $10.10. Sales at J&J's medical device unit came in at $7.46 billion, shy of Wall Street estimates of $7.58 billion. J&J finalized the biggest shake-up in its 137-year history in August with the spinoff, but retained a 9.5% stake in its iconic consumer health business.

Persons: Johnson, Yves Herman, J, Vamil Divan, Joseph Wolk, Ozempic, Wolk, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta, Bill Berkrot Organizations: Johnson, REUTERS, Guggenheim Partners, Vamil, Reuters Graphics, J, Thomson, &' $, & $, & $ Locations: Brussels, Diegem, Belgium, Bengaluru, New York

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. Investors are focused on how J&J, now a standalone pharmaceutical and medical devices company, will reach its goal of $57 billion in drug sales by 2025. Johnson & Johnson recorded a $21-billion gain in the third quarter from the spin-off of its consumer health unit. Stelara, J&J's top-selling anti-inflammatory drug, brought in sales of $2.86 billion in the quarter, above LSEG estimates of $2.61 billion. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, compared with its previous outlook of $10.00 to $10.10 per share.

Persons: Johnson, Yves Herman, MedTech, Cantor Fitzgerald, Louise Chen, Stelara, Joseph Wolk, Wolk, J, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta Organizations: Johnson, REUTERS, Innovative Medicine, Reuters, Thomson, & $, & $ Locations: Brussels, Diegem, Belgium, Stelara, U.S, United States, Bengaluru, New York

☆ BlackRock Investment Institute raises rating of long-dated US Treasuries
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: 1 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsOct 16 (Reuters) - BlackRock Investment Institute on Monday raised the rating of long-dated U.S. Treasuries to "neutral" from "underweight" as it sees yields approaching a peak. "We now see about equal odds that long-term yields swing in either direction," said Jean Boivin, head of BlackRock Investment Institute. BlackRock Investment Institute, an arm of U.S.-based investment firm BlackRock that provides proprietary investment research, is "overweight" on euro area and UK bonds as it sees more rate cuts than the market in these regions. Reporting by Susan Mathew in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Lamarque, Jean Boivin, Susan Mathew, Shounak Dasgupta Organizations: Department of, U.S . Treasury, REUTERS, BlackRock Investment, BlackRock Investment Institute, Thomson Locations: Washington , U.S, U.S, BlackRock, Bengaluru

☆ Pfizer, BioNTech shares fall on lower COVID product sales forecast
▼ + stars: | 2023-10-16 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/File photo Acquire Licensing RightsOct 16 (Reuters) - Shares of Pfizer (PFE.N) and German partner BioNTech (22UAy.DE) fell on Monday after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week, and some analysts said the reduction was bigger than expectations. The COVID sales forecast cut was bigger than expected, Wells Fargo analyst Mohit Bansal said, adding that Wall Street's COVID sales estimates for the next few years may come down. Shares in BioNTech, which is also developing cancer treatments, were down 6.7% at a two-month low in Frankfurt. Its U.S.-listed shares fell 6.8% in premarket trading, while Pfizer's shares fell 2%. The news also dragged down shares of rival COVID vaccine maker Moderna (MRNA.O) by 4.7%.

Persons: Dado, BioNTech, drugmaker, Wells, Mohit Bansal, Ludwig Burger, Rachel More, Miranda Murray, Jason Neely, Shounak Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, U.S, Its U.S, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Wells Fargo, BioNTech, Frankfurt, Its, Bengaluru

☆ Tourmaline cements top position in Canada's Deep Basin with $1 billion Bonavista deal
▼ + stars: | 2023-10-16 | by ( Sourasis Bose | ) www.reuters.com time to read: +1 min

Oct 16 (Reuters) - Tourmaline Oil (TOU.TO) on Monday agreed to buy rival Bonavista Energy for C$1.45 billion ($1.06 billion) in cash and stock, strengthening its position in Western Canada's Deep Basin. The acquisition is expected to help Tourmaline, already the largest Deep Basin producer, exit 2023 with production of more than 600,000 barrels of oil equivalent per day. The offer consists of C$725 million in Tourmaline common shares and C$725 million in cash. Bonavista, a major oil and gas producer, delisted from the Toronto Stock Exchange in 2020 as part of a recapitalization plan. In September, Canadian natural gas firm Peyto Exploration & Development (PEY.TO) agreed to buy Spanish energy company Repsol's (REP.MC) Deep Basin assets for $468 million.

Persons: Tourmaline, Michael Harvey, Sourasis Bose, Shounak Dasgupta, Sriraj Organizations: Bonavista Energy, RBC Capital, Toronto Stock Exchange, Exploration, Development, Thomson Locations: Bonavista, Toronto, Bengaluru

Wall Street's three major indexes opened higher but lost ground after a preliminary reading on U.S. consumer sentiment showed a sharp fall in October. The moves in bonds, equities and oil reflect worries about deteriorating consumer sentiment, the global economy and geopolitical conflict, she added. However, for the week the S&P 500 registered a 0.45% gain for its second weekly advance in a row. The S&P 500 Banks index (.SPXBK) pared gains as the day wore on to close up 0.6% after rising as much as 3.4% to a three-week high. The S&P 500 posted 12 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 28 new highs and 335 new lows.

Persons: Brendan McDermid, Wells, Wall, Dow, Israel, Lauren Goodwin, Goodwin, Patrick Harker, Todd Vasos, Jeff Owen, advancers, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Shounak Dasgupta, Anil D'Silva, Shinjini Ganguli, Richard Chang Organizations: New York Stock Exchange, REUTERS, JPMorgan, Dow, Nasdaq, The United Nations, Treasury, New York Life Investments, Dow Jones, JPMorgan Chase, Citigroup, Federal Reserve Bank of Philadelphia, BlackRock, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Gaza, Israel, BLK.N, Bengaluru

☆ Kaiser Permanente, union reach tentative agreement after biggest healthcare strike
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

"We are excited to have reached a tentative agreement with the frontline health care workers of the @UnionCoalition this morning," Kaiser Permanente said on social media platform X. Kaiser Permanente and its coalition of healthcare workers unions did not immediately respond to requests for details on the agreement. The unions had said Kaiser outsourcing healthcare duties to third-party vendors and subcontactors also was a major sticking point in talks that have dragged on for six months. Company and union spokespersons had said on Thursday the two sides met in person late in the day at a San Francisco Bay-area hotel. "We are thankful for the instrumental involvement of Acting U.S. Labor Secretary," Kaiser said on X.

Persons: Kaiser, Kaiser Permanente, subcontactors, Julie Su, Manas Mishra, Leroy Leo, Steve Gorman, Shounak Dasgupta, Sriraj Organizations: Kaiser Permanente, Labor, U.S, Unions, U.S . Bureau of Labor Statistics, Thomson Locations: U.S, San Francisco Bay, Bengaluru, Los Angeles

☆ Kaiser Permanente, workers union reach tentative agreement
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Oct 13 (Reuters) - Kaiser Permanente's healthcare workers union has reached a tentative deal with the company, the union said in a social media post on Friday, moving toward settling a dispute over staffing levels and pay that sparked the largest strike in the U.S. medical sector. Terms of the agreement were not immediately disclosed, but higher pay and increased hiring to address what union officials called crisis-level staffing shortages topped the workers' list of demands. The company has acknowledged staffing shortages plaguing the entire healthcare sector, a consequence of occupational "burnout" from the pandemic, leading to more than 5 million medical workers leaving their jobs. Kaiser Permanente and its coalition of healthcare workers unions did not immediately respond to Reuters' request for details on the agreement. Company and union spokespersons had said on Thursday the two sides met in person late in the day at a San Francisco Bay-area hotel.

Persons: Julie Su, Manas Mishra, Leroy Leo, Shounak Dasgupta Organizations: Kaiser Permanente, Reuters, Union, Kaiser, . Company, Labor, Unions, U.S . Bureau of Labor Statistics, Thomson Locations: U.S, San Francisco Bay, Bengaluru

[1/2] A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - UnitedHealth (UNH.N) reported a third-quarter profit on Friday ahead of analysts' estimates, helped by a lower-than-feared rise in medical costs at the company's health insurance unit. UnitedHealth's profit beat and slight raise in annual forecast set the stage for other insurers in the industry that suffered a nearly $60-billion wipeout in market value in June, on fears of a spike in medical costs. UnitedHealth said in July it expects quarterly medical costs to be "a little bit lower" sequentially. In the third quarter, the company's medical loss ratio, the percentage of spend on claims compared to premiums collected, was 82.3%, versus 83.2% in the second quarter.

Persons: Lucy Nicholson, Stephens, Scott Fidel, UnitedHealth, Mariam Sunny, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Humana, Thomson Locations: COVID, Bengaluru

☆ UnitedHealth beats quarterly profit estimates on easing medical costs
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lucy Nicholson/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - UnitedHealth (UNH.N) reported a third-quarter profit on Friday that beat analysts' estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. UnitedHealth said in July it expects medical costs for the third quarter to be "a little bit lower" compared with the second quarter. The company's medical loss ratio for the quarter, the percentage of spend on claims compared to premiums collected, was 82.3%, compared with analysts' estimates of 82.82%, according to LSEG data. UnitedHealth reported an adjusted profit of $6.56 per share for the third quarter, compared with estimates of $6.32. The company now expects an adjusted profit between $24.85 and $25.00 per share, compared with its previous outlook of $24.70 to $25.00.

Persons: Lucy Nicholson, UnitedHealth, Mariam Sunny, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Thomson Locations: Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) rose between 3% and 5% after trouncing quarterly profit estimates as they benefited from higher interest rates. The S&P 500 Banks index (.SPXBK) gained 3.2%, hitting a three-week high. Options traders are bracing for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. The energy sector (.SPNY) tracked a more than 3% jump in crude prices and led the gains among S&P 500 sectors.

Persons: Brendan McDermid, Wells, JPMorgan Chase, Wells Fargo, Stuart Cole, Cole, Patrick Harker, Investors, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Chakrabarty, Shounak Dasgupta, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Companies JPMorgan, Citigroup, Dow, Nasdaq, JPMorgan, Citi, Equiti, BlackRock, Federal Reserve Bank of Philadelphia, Dow Jones, Hamas, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Israel, Gaza City, Bengaluru

Oct 13 (Reuters) - Kaiser Permanente's frontline healthcare workers union reached a tentative deal with the company on Friday, moving toward settling a payment and staffing dispute that had sparked the largest recorded strike in the U.S. medical sector. The strike by 75,000 workers last week had put Kaiser at the forefront of a growing labor unrest in the healthcare industry, including among employees of pharmacies and other hospital chains like Tenet Healthcare (THC.N). "What they've achieved here in Oakland (San Francisco Bay Area) is great news for frontline workers, for Kaiser and the patients in their collective care," Su said. Spokespersons for Kaiser Permanente and its coalition of healthcare workers unions said they would provide further details on the agreement later in the day. Kaiser is one of the largest U.S. medical employers with 24,000 doctors, 68,000 nurses, 213,000 technicians, clerical workers and administrative staff.

Persons: Kaiser, Julie Su, Su, Kaiser Permanente, Manas Mishra, Leroy Leo, Steve Gorman, Shounak Dasgupta, Sriraj Kalluvila, Arun Koyyur Organizations: Tenet Healthcare, Labor, Kaiser Permanente, District of Columbia, United Auto Workers, Detroit, U.S . Bureau of Labor Statistics, Thomson Locations: U.S, San Francisco Bay, Oakland, Bengaluru, Los Angeles

After the data, the S&P 500 spent the morning zig-zagging between red and green. U.S. benchmark 10-year yields rose after the inflation data and rose further to hit a session high after the auction. The rise in yields particularly pressured rate-sensitive sectors such as utilities (.SPLRCU) and real estate (.SPLRCR), often viewed as bond proxies. Homebuilding stocks fell after the data and came under more pressure after the afternoon increase in bond yields. Traders now expect a stronger chance the Fed will end up delivering another interest-rate hike this year, and keep rates higher for longer next year.

Persons: Brendan McDermid, Treasuries, Michael James, James, Susan Collins, Israel, Sinéad Carew, Amruta, Shashwat Chauhan, Ankika Biswas, Johann M Cherian, Arun Koyyur, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Wedbush Securities, Nasdaq, Dow Jones, Traders, Boston, Market, JPMorgan Chase, Citigroup, Ford, United Auto Workers, UAW, Thomson Locations: New York City, U.S, Los Angeles, Gaza, Wells Fargo, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The Labor Department report showed U.S. consumer prices rose 0.4% in September versus estimates of a 0.3% rise, according to economists polled by Reuters. Prices rose to 3.7% against estimates of 3.6% in the 12 months through September. Core CPI, which excludes volatile food and energy prices, rose 0.3% in line with estimates. Reuters GraphicsAnother set of data showed jobless claims rose 209,000 for the week ended Oct. 7, lower than an estimated 210,000 rise.

Persons: Brendan McDermid, Israel, Hogan, Riley, Susan Collins, Atlanta's Raphael Bostic, Kan, advancers, Shashwat Chauhan, Ankika Biswas, Johann M Cherian, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Labor Department, Reuters, CPI, Traders, Federal, Boston, Public, Dow Jones, NYSE, Thomson Locations: New York City, U.S, Gaza, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. U.S. producer prices increased more than expected in September amid higher costs for energy products, but underlying inflation pressures at the factory gate continued to moderate. Yield on the benchmark 10-year notes fell to a roughly two-week low as prices rose on safe-haven flows due to fighting in the Middle East that has persisted for a fifth straight day. Advancing issues outnumbered decliners for a 1.51-to-1 ratio on the NYSE, while declining issues outnumbered advancers for a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and seven new lows, while the Nasdaq recorded 38 new highs and 124 new lows.

Persons: Brendan McDermid, Fed's Bowman, Raphael Olszyna, J Safra, Michelle Bowman, Christopher Waller, Birkenstock, Tim Wentworth, Drugmaker Eli Lilly, LLY.N, Novo, decliners, advancers, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Fed's Bowman Exxon, Nasdaq, Treasury, Federal, Apple, Microsoft, Nvidia, Fed, Energy, Exxon Mobil, Natural Resources, Dow Jones, Walgreens Boots Alliance, Novo Nordisk's, Baxter International, NYSE, Thomson Locations: New York City, U.S, Middle East, Israel, Gaza, Bengaluru

☆ SNAPSHOT Futures briefly pare gains after producer prices data
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 11 (Reuters) - U.S. stock index futures briefly pared gains on Wednesday after data showed a stronger-than-expected rise in September producer prices, bolstering the case for the Federal Reserve to keep its interest rates elevated for longer. The U.S. Labor Department's producer price index (PPI) for final demand rose 0.5% month-on-month in September, compared with the estimated 0.3% rise. The core figure rose 0.3% against expectations of a 0.2% rise. On an annual basis, the headline inflation rose 2.2% versus an expected 1.6% growth, while the core figure rose 2.7% compared with an estimated 2.3%.

Persons: Brendan McDermid, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Federal Reserve, U.S, Labor, Dow e, Nasdaq, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. ET is expected to show the producer price index for final demand increased 0.3% last month after a 0.7% rise in August, ahead of Thursday's closely watched consumer inflation data. Yields on government bonds have eased from their multi-year highs on dovish remarks from Fed officials earlier this week. Central bank officials such as Fed Governor Christopher Waller, Atlanta Fed President Raphael Bostic and Boston Fed President Susan Collins are also scheduled to speak on Wednesday. Exxon Mobil (XOM.N) lost 1.7% as the oil and gas producer is set to buy shale producer Pioneer Natural Resources (PXD.N) in an all-stock deal valued at $59.5 billion.

Persons: Brendan McDermid, Fed's Bowman, Michelle Bowman, Christopher Waller, Raphael Bostic, Susan Collins, Mark Haefele, Birkenstock, Tim Wentworth, Piper Sandler, Drugmaker Eli Lilly, LLY.N, Novo, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Companies, Fed's Bowman Exxon, Futures, Dow, Nasdaq, Treasury, Federal, Labor Department, Atlanta Fed, Boston Fed, UBS Global Wealth Management, Traders, Microsoft, Nvidia, Palestinian, Hamas, Dow e, Walgreens Boots Alliance, Arista Networks, Exxon Mobil, Natural Resources, Novo Nordisk's, Baxter International, Thomson Locations: New York City, U.S, Gaza, Thursday's, Middle East, Israel, Bengaluru

Following the comments from top Fed officials on Monday, Atlanta Fed President Raphael Bostic said the U.S. central bank does not need to raise interest rates any further, and that he sees no recession ahead. "Everybody has one eye on the Middle East conflict and one eye on what's happening with bond yields. The decline in bond yields is the key driver today," said John Praveen, managing director & co-chief investment officer at Paleo Leon. "If tensions escalate bond yields might decline further because they're a safe haven but equities would sell off in that instance because of increased uncertainty and risk aversion," he said. But the flight to safety has made Treasury yields fall enough to push up equities," Tuz said.

Persons: Brendan McDermid, dovish, Raphael Bostic, John Praveen, Praveen, Peter Tuz, Tuz, Neel Kashkari, Christopher Waller, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Terence Gabriel, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Atlanta Fed, Treasury, Chase Investment, Nasdaq, Dow Jones, Minneapolis Federal Reserve Bank, Traders, PepsiCo, Truist, Rivian, UBS, EV, Thomson Locations: New York City, U.S, Gaza, Paleo Leon, Charlottesville , Virginia, Israel, Minneapolis

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Top ranking Fed officials indicated rising yields on long-term U.S. Treasury bonds could steer the central bank from further increases in its short-term policy rate. Megacap stocks Microsoft (MSFT.O), Alphabet (GOOGL.O), Nvidia (NVDA.O) and Amazon.com (AMZN.O) added between 0.2% and 0.4% in premarket trading. All three major U.S. stock indexes closed higher on Monday, with energy (.SPNY) leading gains as supply worries ignited by Middle East tensions sparked a rally in crude oil prices. Rivian Automotive (RIVN.O) added 4.1% on a report that UBS upgraded the EV maker's stock to "buy" from "neutral".

Persons: Brendan McDermid, Raffi Boyadjian, Atlanta's Raphael Bostic, Neel Kashkari, Mary Daly, Christopher Waller, Israel, John Riccitiello, J.P.Morgan, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, PepsiCo, Dow, Nasdaq, Treasury, Federal, Columbus, Peoples, Microsoft, Nvidia, XM, Traders, JPMorgan Chase, Citigroup, Dow e, Rivian, UBS, EV, Alibaba Group, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Gaza, Minneapolis, Wells Fargo, Beijing, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Top ranking Fed officials indicated rising yields on long-term U.S. Treasury bonds could steer the central bank from further increases in its short-term policy rate. Focus will be on remarks from a slew of Fed officials including Minneapolis' Neel Kashkari, San Francisco's Mary Daly and Board Governor Christopher Waller during the day. Advancing issues outnumbered decliners for a 2.57-to-1 ratio on the NYSE and a 1.93-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and one new low, while the Nasdaq recorded 27 new highs and 86 new lows.

Persons: Brendan McDermid, Neel Kashkari, Mary Daly, Christopher Waller, Peter Cardillo, J.P.Morgan, decliners, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, PepsiCo, Dow, Nasdaq, Treasury, Federal, Columbus, Peoples, Traders, Dow Jones, Spartan Capital Securities, Truist, Rivian, UBS, EV, Skyworks Solutions, Citigroup, NYSE, Thomson Locations: New York City, U.S, Gaza, Minneapolis, Washington, Bengaluru

☆ US regulator probes Twitter security lapse before Musk took over - Bloomberg News
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 10 (Reuters) - The U.S. securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said. Musk renamed the social media platform as X following the acquisition. Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Elon Musk, Jack Dorsey, Ned Segal, Parag Agrawal, Musk, Chavi Mehta, Shailesh Kuber, Shounak Organizations: Twitter, REUTERS, Bloomberg News, SEC, Thomson Locations: U.S, Bengaluru

☆ What are global firms with presence in Israel doing after Hamas attack
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +4 min

Following are the steps taken by the companies ranging from airlines to banks:TRAVELSeveral Asian, European and U.S. airlines have suspended direct flights to Tel Aviv. Delta Air Lines (DAL.N):The airline said it continues to monitor events in the region and has made the decision to cancel Delta-operated Tel Aviv flights through Oct. 31. Goldman Sachs (GS.N):The bank's employees at its office in Tel Aviv have been asked to work from home, a spokesperson said. TECHNvidia (NVDA.O):The world's largest maker of chips used for artificial intelligence and computer graphics said it had canceled an AI summit scheduled for Tel Aviv next week. CONSUMER AND RETAILH&M (HMb.ST):The clothing company said its local franchise partner has temporarily closed all stores in Israel.

Persons: Amir Cohen, El, Goldman Sachs, Morgan Stanley, Gautam Adani's, Jensen Huang, PHARMA Eli Lilly, Lilly, Priyamvada C, Mehr Bedi, Ananya Mariam Rajesh, Khushi, Jaiveer Singh, Samrhitha, Helen Reid, Sriraj Kalluvila, Shounak Dasgupta, Shinjini Organizations: Gaza, REUTERS, Palestinian, Hamas, Tel Aviv . Delta Air Lines, Royal, Chevron, JPMorgan Chase, Reuters, Bank of America, Bloomberg News, FedEx, TECH Nvidia, Tel, Inditex SA, PHARMA, Thomson Locations: Sderot, Israel, U.S, Tel Aviv, Royal Caribbean, Haifa Port, Zara, Bengaluru, London

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. But late in the afternoon, a senior Hamas official said the group is open to discussions over a possible truce with Israel. A recent surge in U.S. Treasury yields had pressured equities. Shares of the airlines, also hurt by rising oil prices, putting pressure on the S&P 500 Passenger Airlines index (.SPLRCALI). Exchange-traded funds exposed to Israel were selling off, with iShares MSCI Israel ETF falling along with the ARK Israel Innovative Technology ETF .

Persons: Brendan McDermid, Joe Biden, John Augustine, Augustine, Big advancers, iShares, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Dasgupta, Richard Chang Organizations: New York Stock Exchange, REUTERS, Hamas, U.S, Federal, Huntington National Bank, Columbus, Peoples, Treasury, Fund, Nasdaq, Dow Jones, United Airlines, Delta Air Lines, American Airlines, Airlines, Defense, Aerospace, Northrop Grumman, L3Harris Technologies, Exchange, ARK Israel Innovative Technology ETF, Thomson Locations: New York City, U.S, Israel, Palestinian, Gaza, Columbus , Ohio, Tel Aviv, New York, Bengaluru

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