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Wall St. turns lower after shooting at Canadian parliament

Traders work on the floor of the New York Stock ExchangeBy Yasmeen Abutaleb NEW YORK (Reuters) - U.S. stocks turned lower in afternoon trading on Wednesday, with major indexes erasing earlier gains as a shooting at the Canadian parliament unnerved investors and Boeing and Biogen sold off following results. Indexes had traded in positive territory for much of the session, putting the S&P 500 on track for a fifth straight day of gains. Earnings initially drove the move higher, with technology and material shares up on the back of strong results. ...

Wed, 22 Oct 2014 14:22:21 -0400
AT&T revenue lower than expected as customers bring in their own phones

An AT&T building is pictured in Los AngelesBy Marina Lopes WASHINGTON (Reuters) - AT&T Inc said on Wednesday its quarterly revenue rose but by less than Wall Street anticipated as a wave of subscribers plugged into the network using pre-purchased devices. The company cut its full-year consolidated revenue growth outlook for 2014 to 3-4 percent from 5 percent. AT&T said 400,000 subscribers brought their own devices when signing up for service this quarter, instead of purchasing one at an AT&T store. ...

Wed, 22 Oct 2014 18:54:20 -0400
U.S. inflation muted in September as energy costs drop

Current gas prices are shown at a Shell gas station in Encinitas, CaliforniaBy Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices rose marginally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while. The Labor Department said on Wednesday its Consumer Price Index edged up 0.1 percent last month as a rise in food and shelter costs offset a decline in energy prices. ...

Wed, 22 Oct 2014 12:07:46 -0400
Divided U.S. SEC adopts mortgage rule, decries lax lending

A sign for the SEC is pictured in the foyer of the Fort Worth Regional Office in Fort WorthBy Sarah N. Lynch WASHINGTON (Reuters) - U.S. securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors. The Securities and Exchange Commission approved the so-called "risk retention" rule by a 3-2 vote, while the U.S. Federal Reserve is expected to approve it later Wednesday. The rule requires banks to keep at least 5 percent of the risk on their books when they securitize loans. ...

Wed, 22 Oct 2014 12:37:37 -0400
Boeing profit jumps 18 percent; raises 2014 earnings view

The Boeing logo is seen at their headquarters in ChicagoBy Alwyn Scott (Reuters) - Boeing Co reported an 18 percent increase in quarterly profit and raised its full-year core earnings forecast for the third time, reflecting booming commercial aircraft demand and increasing profitability in its defense business. But shares of the Chicago-based aerospace and defense giant slipped 1.5 percent in early trading, as analysts viewed the profit gain as a given and raised concern about signs that the costs of the 787 Dreamliner were creeping higher. The company earned $1.36 billion, or $1.86 per share, for the third quarter ended Sept. 30, up from $1. ...

Wed, 22 Oct 2014 10:09:27 -0400
Total names refining boss to replace de Margerie

Thierry Desmarest, Chairman of French oil company Total, speaks during the company's annual shareholders meeting in ParisBy Michel Rose PARIS (Reuters) - French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a reputation as a shrewd cost-cutter. The world's fourth largest oil company also named Thierry Desmarest, a former Total CEO, as non-executive chairman. The appointments came less than 48 hours after de Margerie's death. ...

Wed, 22 Oct 2014 11:40:34 -0400
Futures decline on weak Amazon results, Ebola concern

A woman carries an umbrella as she passes by the New York Stock Exchange on Broad St. in New York's financial district during the morning rushBy Chuck Mikolajczak NEW YORK (Reuters) - U.S. stock index futures fell on Friday, putting the S&P 500 on track to trim its weekly advance, following disappointing earnings from Amazon and as the first diagnosed case of Ebola in New York City raised concerns about the spread of the virus. Amazon plunged 9.9 percent to $282.23 in premarket trade after the online retailer's sales projections for the crucial holiday quarter disappointed Wall Street and third-quarter results missed forecasts. Microsoft , up 2.6 percent at $46. ...

Fri, 24 Oct 2014 08:24:53 -0400
Ford's lower profit beats estimates; sales down on F-150 launch

A man walks past new Ford car at Jacob Javits Convention Center during New York International Auto Show in New YorkBy Bernie Woodall and Ben Klayman DETROIT (Reuters) - Ford Motor Co's third-quarter earnings fell 34 percent but beat Wall Street expectations on a strong showing in North America even as revenue fell due to the cost of introducing the F-150 pickup truck. Ford's launch of its aluminum-bodied F-150 is on track, the company said on Friday. A 3 percent drop in third-quarter revenue to $34.9 billion is largely linked to the planned shutdown of the F-150 plant in Dearborn, Michigan. ...

Fri, 24 Oct 2014 08:09:18 -0400
UPS profit beats analysts' expectations, confirms outlook

Woman walks past a sign bearing the UPS logo at a job fair in ChicagoCHICAGO (Reuters) - Robust U.S. consumer and business demand plus strong growth in Asia drove a higher-than-expected quarterly profit at package delivery company United Parcel Service Inc . Atlanta-based UPS also confirmed its full-year profit outlook, predicting earnings per share of between $4.90 to $5.00. UPS, the world's largest shipping company, and its main rival, FedEx Corp , both considered U.S. economic bellwethers, are heading into their busiest season of the year as the U.S. holidays approach. ...

Fri, 24 Oct 2014 08:22:00 -0400
P&G to exit Duracell battery business

Used Duracell batteries are seen in an office in Kiev(Reuters) - Procter & Gamble Co said it would exit its Duracell battery business, likely through a splitoff into a separate company, as it looks to focus on faster-growing brands. P&G, which also reported a slight fall in quarterly sales, said a stronger dollar would significantly hurt revenue and earnings in the current quarter. The world's No. 1 household products maker said in August it could sell about half of its slow-growing brands in the next two years and cut jobs to revive sales growth and save costs. ...

Fri, 24 Oct 2014 08:10:36 -0400
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