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U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.07% By Investing.com

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© Reuters. U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.07%

Investing.com – U.S. stocks were lower after the close on Thursday, as losses in the , and sectors led shares lower.

At the close in NYSE, the lost 0.07%, while the index declined 0.15%, and the index declined 0.47%.

The best performers of the session on the were Walgreens Boots Alliance Inc (NASDAQ:), which rose 4.82% or 1.73 points to trade at 37.64 at the close. Meanwhile, JPMorgan Chase & Co (NYSE:) added 1.50% or 1.50 points to end at 101.72 and Nike Inc (NYSE:) was up 1.05% or 1.34 points to 129.00 in late trade.

The worst performers of the session were Merck & Company Inc (NYSE:), which fell 1.80% or 1.45 points to trade at 79.06 at the close. Salesforce.com Inc (NYSE:) declined 1.57% or 4.11 points to end at 257.72 and Visa Inc Class A (NYSE:) was down 1.31% or 2.65 points to 199.55.

The top performers on the S&P 500 were Apache Corporation (NASDAQ:) which rose 6.09% to 9.76, Cimarex Energy Co (NYSE:) which was up 5.35% to settle at 26.97 and The Charles Schwab Corporation (NYSE:) which gained 5.15% to close at 39.03.

The worst performers were Vertex Pharmaceuticals Inc (NASDAQ:) which was down 20.70% to 215.28 in late trade, Boston Scientific Corp (NYSE:) which lost 3.99% to settle at 39.00 and United Airlines Holdings Inc (NASDAQ:) which was down 3.82% to 34.25 at the close.

The top performers on the NASDAQ Composite were Staffing 360 Solutions Inc (NASDAQ:) which rose 67.94% to 1.3200, Dragon Victory International Ltd (NASDAQ:) which was up 59.50% to settle at 1.930 and China HGS Real Estate Inc (NASDAQ:) which gained 50.07% to close at 1.5400.

The worst performers were Kaixin Auto Holdings (NASDAQ:) which was down 32.83% to 1.330 in late trade, VivoPower International PLC (NASDAQ:) which lost 21.85% to settle at 8.980 and Vertex Pharmaceuticals Inc (NASDAQ:) which was down 20.70% to 215.28 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1685 to 1377 and 91 ended unchanged; on the Nasdaq Stock Exchange, 1640 rose and 1228 declined, while 91 ended unchanged.

Shares in Staffing 360 Solutions Inc (NASDAQ:) rose to 52-week highs; gaining 67.94% or 0.5340 to 1.3200.

The , which measures the implied volatility of S&P 500 options, was up 2.16% to 26.97.

Gold Futures for December delivery was up 0.29% or 5.55 to $1912.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.22% or 0.09 to hit $40.95 a barrel, while the December Brent oil contract fell 0.16% or 0.07 to trade at $43.05 a barrel.

EUR/USD was up 0.01% to 1.1707, while USD/JPY fell 0.02% to 105.42.

The US Dollar Index Futures was up 0.48% at 93.812.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Kimberly-Clark Earnings Miss, Revenue Beats In Q3 By Investing.com

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© Reuters. Kimberly-Clark Earnings Miss, Revenue Beats In Q3

Investing.com – Kimberly-Clark (NYSE:) reported on Thursday third quarter that missed analysts’ forecasts and revenue that topped expectations.

Kimberly-Clark announced earnings per share of $1.72 on revenue of $4.68B. Analysts polled by Investing.com anticipated EPS of $1.75 on revenue of $4.59B.

Kimberly-Clark shares are up 7% from the beginning of the year, still down 7.33% from its 52 week high of $160.11 set on August 12. They are outperforming the which is up 6.34% from the start of the year.

Kimberly-Clark shares lost 2.95% in pre-market trade following the report.

Kimberly-Clark follows other major Consumer/Non-Cyclical sector earnings this month

Kimberly-Clark’s report follows an earnings beat by Procter&Gamble on Tuesday, who reported EPS of $1.63 on revenue of $19.32B, compared to forecasts EPS of $1.41 on revenue of $18.33B.

Coca-Cola had beat expectations on Thursday with third quarter EPS of $0.55 on revenue of $8.65B, compared to forecast for EPS of $0.46 on revenue of $8.36B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Northrop Grumman Earnings, Revenue Beat in Q3 By Investing.com

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© Reuters. Northrop Grumman Earnings, Revenue Beat in Q3

Investing.com – Northrop Grumman (NYSE:) reported on Thursday third quarter that beat analysts’ forecasts and revenue that topped expectations.

Northrop Grumman announced earnings per share of $5.89 on revenue of $9.08B. Analysts polled by Investing.com anticipated EPS of $5.62 on revenue of $8.87B.

Northrop Grumman shares are down 10% from the beginning of the year, still down 19.90% from its 52 week high of $385.00 set on January 30. They are under-performing the which is up 6.34% from the start of the year.

Northrop Grumman follows other major Technology sector earnings this month

Northrop Grumman’s report follows an earnings matched by Taiwan Semiconductor on October 14, who reported EPS of $0.92 on revenue of $12.4B, compared to forecasts EPS of $0.92 on revenue of $12.4B.

Danaher had beat expectations on Thursday with third quarter EPS of $1.72 on revenue of $5.88B, compared to forecast for EPS of $1.36 on revenue of $5.51B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Buyers of Thai distressed assets plan big purchases as debt payment holiday ends By Reuters

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© Reuters. FILE PHOTO: Coronavirus disease (COVID-19) outbreak, in Bangkok

By Orathai Sriring and Satawasin Staporncharnchai

BANGKOK (Reuters) – A pandemic-exacerbated surge in Thai bad loans to nine-year highs and the end of a debt payment holiday are prompting buyers of distressed debt to embark on a shopping spree in Southeast Asia’s second-biggest economy.

About 6.89 trillion baht ($221 billion) of outstanding Thai debt – or 42% of total lending – has been under relief programmes that include payment deferment and reduction, interest rate reduction and restructuring.

The most significant of these – a government-mandated six month debt payment holiday – ended on Thursday.

The Bank of Thailand has said it does not expect sudden and large defaults, but its former chief Veerathai Santiprabhob, whose term ended last month, warned in August bad debt could jump as the economy slumped.

The country’s biggest distressed debt manager, Bangkok Commercial Asset Management (BK:), told Reuters it will spend 12 billion baht to acquire sour loans with a face value of about 40 billion baht this year.

“We will focus on buying debt this year and next,” Bunyong Visatemongkolchai, the bank’s executive board chairman said, adding it planned to issue 25 billion baht of bonds to fund purchases.

Its shares are up 11% this year, versus a 23% drop for the main stock index ().

Easy credit for consumers and businesses for years have prompted many warnings about the dangers of the household debt malaise in Thailand. Those are now proving prescient as the pandemic batters businesses, leaving as many as three million people without work.

Thai household debt is among Asia’s highest, at 83.8% of GDP as of June, the highest level since 2003, while the central bank predicts the trade and tourism-dependent economy could shrink by a record 7.8% this year.

Months of protests against the government and the monarchy could further slow a recovery for the economy.

For a graphic on Thailand’s economy and tourism:

https://fingfx.thomsonreuters.com/gfx/mkt/xlbvgjmjepq/Pasted%20image%201601392642559.png

Thailand’s non-performing loans amounted to 509 billion baht as of June, a nine-year high of 3.09% of total lending, versus 2.98% at the end of 2019. Loans with a significant increase in credit risk hit 7.48% of lending, up from 2.79% at the end of last year.

Banks prefer keeping distressed assets in house to avoid expensive write-downs, but sometimes see no option but to sell.

For a graphic on Bad loans at Thai banks:

https://fingfx.thomsonreuters.com/gfx/mkt/xlbpgjmlevq/Pasted%20image%201601390972890.png

“We will sell debt of businesses that have no potential,” said Atipat Asawachinda, first senior vice president of Kasikornbank (BK:), which plans to offload 10 billion baht of bad debt this year.

JMT Network Services (BK:), the biggest buyer of distressed consumer loans, will spend a record 6 billion baht buying debt this year, CEO Sutthirak Traichira-aporn said.

“The amount of debt being sold in the market is so great that we don’t have time to choose,” he said, noting it had acquired debt with a face value of 12 billion baht at an average 84% discount in the first half.

JMT’s shares have surged 66% this year.

Sutthirak said relief measures had only delayed the souring of loans, likening them to holding water behind a dam, “If there is too much, it will break out”.





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