Big premarket moves on mixed results from cat, gm and mcdonalds. Global volatility, a common theme. Apple cut its spending forecast by about 1 billion. Well explain why. Qualcomm looking for 1 billion in cost cuts by trimming workforce by 15 . First up caterpillar shares taking a hit on a quarterly miss hurt in part by weakness in mining and construction in brazil and china. Cats lowering their full guidance. Doug oberhelman did talk about it. At some point, the economy will stabilize and business will pick up. It was too whose in 2012 and too slow right now. Somewhere in between is where we will be. Until that happens we have caught in this period where we have to hunker down and do everything internally day to day. Sales down in every region including north america. Oil and gas not helping. They lowered the revenue forecast for the year. They keep the adjusted eps forecast. He is a very nice man. Thats the key. He is a very nice man. You believe this is about him. Whats your main hea
Unsolicited stakeover bid led by anbang insurance group. Well give you the latest. United airlines ceo back to work today but the activists are not cutting him slack. Whats ahead for munoz and the airline at large. Starwood is up sharply in premarket trading. They received a takeover proposal from chinas anbang insurance. Its worth about 75 a share in cash. The board of starwood says it is not changing its recommendation at this point and supports the companys planned merger with marriott, but they have a waiver from marriott that will allow them to negotiate until thursday. People familiar with the situation indicate the hope is they can hammer out a definitive agreement with anbang insurance, which has chris flowers, former investment banker people may have known. And primivera, not an old Italian Restaurant on the west side, but a large private equity firm in china. Some of these names may be unfamiliar, but the 76 a share all cash offer and that 5. 50 is a significant premium over
Our road map begins with a trio of deals in biotech, personal care and food. Hp ink and hewlettpackard enterprise began trading as separate companies today. We will speak with meg whitman a bit later on in the show. And visa shares lower after reporting a mixed quarter, a buy back and a purchase of visa europe. A lot for investors to digest. A lot of deals in the spotlight, including Treehouse Foods agreeing to buy conagras private brands business. Results from likes of a facebook, tesla, Media Players like disney, cvs, fox. The nasdaq the biggest gainer. The question now, jim, whether october has had not good but great gains, almost every year this decade. Is it going to rob some of novembers seasonal strength . I dont know. I think earnings season is still on. I listen to what youre saying. Lets mention treehouse. Treehouse is a very good company. Theyre going to be able to take that private label nonsense from conagra and turn it into lemonade. Treehouse is the best at this private
The markets, tensions growing across the globe this morning so why are stocks set to open higher . Not a lot of good news for mcdonalds, and why asia is troubling for the fast food maker, and gap is not struggling after same store sales. Whats leading the Company Higher . Cbs making shows for netflix behind the ceos big plans for the streaming service. Breaking news from Michelle Carusocabrera back at hq. Busy morning, michelle. We want to update what the president said last night, two u. S. Navy f18s dropped two 500 bombs on isis enemy forces this morning. No word on casualties, fighter jets flew off the uss george w. Bush Aircraft Carrier in the persian gulf telling nbc news, two navy f18 drops two 500 bombs and in addition, the pentagon tweeted out details as well saying the u. S. Military aircraft conducted a strike on isis artillery used against Kurdish Forces defending u. S. Personnel. As the president warned last night, that arab strikes occurred this morning trying to protect u
Volatile day yesterday on good volume. Energy retreating as opec cuts its demand forecast. Yum brands problems continue in china. Cutting their profit outlook for the second time this year. Costco out with earnings, beating estimates. Stocks up more than 20 this year. Looking to add to those gains today. Oil prices sliding again this morning, close to some new multiyear lows. Opec cutting its demand forecast to below 29 Million Barrels a day, more than a million less than the cartel is currently producing. Its actually a 12year low, guys, on demand. Goldman out today saying the tax cut that consumers are getting, not 75 billion like they thought. Now after that opec meeting, its going to be 125 billion. Well, look, its remarkable for 317 million americans. There are Many Companies that when we get to 50 then become different in that theyre not as positive because theres some companies that rely on fuel conservation as a major business. They will not you will not want to conserve fuel a