Send me real-time posts from this site at my email

Fly Intel - End of Day Brief - Thursday Oct. 10, 2019

Stocks end higher after Trump teases trade meeting with China's Vice Premier

Stock were volatile in morning trading amid conflicting reports about the state of trade negotiations between the U.S. and China. A tentative move higher gained real momentum after President Trump tweeted that he would be meeting with China's Vice Premier tomorrow at The White House, countering some recent reports that the Chinese delegation might be leaving early. While all eyes remain fixed on headlines about the trade talks, there was also some domestic economic data released on consumer prices and weekly jobless claims.

ECONOMIC EVENTS: In the U.S., initial jobless claims unexpectedly dropped 10,000 to 210,000 in the week ended October 5. Forecasters had been calling for a slight rise. The headline Consumer Prices Index was flat in September, and the core was up 0.1%, both of which were a little shy of estimates.

Meanwhile, the Independent reported that Ireland's Prime Minister Leo Varadkar said that a Brexit deal is possible "in less than three weeks" following a meeting with British Prime Minister Boris Johnson.

TOP NEWS: Shares of Delta Air Lines (DAL) fell 1.5% after the company reported Q3 results and gave a Q4 RASM and adjusted EPS outlook that Stephens analyst Jack Atkins said was "likely to be somewhat disappointing for investors."

Bed Bath & Beyond (BBBY) shares jumped 21.6% after the company announced Mark Tritton, who was most recently executive VP and Chief Merchandising Officer at Target (TGT), will be joining as president and CEO and as a member of its board, effective November 4.

Boeing (BA) and Porsche (POAHY) announced a Memorandum of Understanding to explore the "premium urban air mobility market and the extension of urban traffic into airspace." As part of the partnership, Boeing, Porsche and Boeing subsidiary Aurora Flight Sciences are developing a concept for a fully electric vertical takeoff and landing vehicle.

Meanwhile, Reuters reported that Apple (AAPL) CEO Tim Cook defended his company's decision to remove a police-tracking app used by protesters in Hong Kong from its App Store. In a letter to employees, Cook said that Apple made the decision after it received "credible information" from both Kong Kong police and Apple users that the app was used "maliciously to target individual officers for violence and to victimize individuals and property where no police are present," according to Reuters.

MAJOR MOVERS: Among the noteworthy gainers was Ra Pharmaceuticals (RARX), which jumped 101% after entering into an agreement to be acquired by UCB for $48 per share in cash. Also higher was ProPetro (PUMP), which gained 19.6% after announcing "substantial completion" of fact finding for its previously disclosed internal review.

Among the notable losers was ForeScout (FSCT), which dropped 37.3% after its lower than expected Q3 revenue pre-announcement. Also lower was PG&E (PCG), which fell 29.1% after The Wall Street Journal reported a bankruptcy judge stripped the company of the sole right to propose a reorganization plan, opening the door for a rival chapter 11 plan from Elliott and other bondholders.

INDEXES: The Dow rose 150.66, or 0.57%, to 26,496.67, the Nasdaq gained 47.04, or 0.60%, to 7,950.78, and the S&P 500 advanced 18.73, or 0.64%, to 2,938.13.


Source: (

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

If you liked this article, please click the LIKE (thumbs up) button.

Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so).

Follow us/bookmark us and check back occasionally for additional articles or comments on our page...

Wild Tiger Trading - start/main page.

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue