Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Thursday October 27th 2016: Latest financial news from the worldAmazon forecast for holiday season disappoints as investment rises
Investors and analysts are trying to gauge how much more Amazon plans to invest in its various ventures, and it unnerved some that it offered wide ranges in its outlook. "Amazon really doesn't know what's going to happen this quarter," said analyst Jan Dawson of Jackdaw Research, noting investors disapproved of the "uncertainty" in the company's guidance. Amazon forecast net sales of between $42 billion and $45.5 billion for the current-quarter, which includes the all-important holiday shopping season.
Stocks dip as earnings pour in, consumer discretionary lags
U.S. stocks dipped in a choppy session after the latest round of earnings reports, as a decline in the consumer discretionary sector and interest-rate sensitive stocks outweighed gains in healthcare names. The S&P 500 healthcare index rose 0.53 percent to help keep the S&P 500 near the unchanged mark, buoyed by strong results and forecasts from Bristol-Myers , up 5.4 percent and Celgene , up 6.4 percent. The two drugmakers were the top boosts to the S&P 500.
Google parent Alphabet beats on revenue, earnings; sets buyback
Alphabet, along with Facebook Inc, dominates the fast-growing mobile advertising market. Shares of Alphabet, the world's No. 2 company by market value, were up 1.6 percent in after-hours trading. The company posted third-quarter adjusted earnings per share of $9.06 on revenue of $22.45 billion.
Apple adds touch screen keys to MacBook Pro, price jump startles some
By Deborah M. Todd CUPERTINO, Calif. (Reuters) - Apple Inc unveiled a revamped MacBook Pro on Thursday, adding a fingerprint reader, replacing function keys with a small touch screen and raising prices by several hundred dollars. The first redesign in several years is a sign Apple still sees a role for the product that launched the company, even though its iPhone has become the flagship product. Ben Bajarin, an analyst at Creative Strategies, described the changes as "important incremental upgrades" which would convince people with old Macs to trade up to the smaller, faster model.
Qualcomm to buy NXP for $38 billion in biggest chip deal
The acquisition will also help Qualcomm, which provides chips to Android smartphone makers and Apple Inc , reduce its dependence on a cooling smartphone market. With the deal, Qualcomm is taking a big bet on the so-called Internet of Things (IoT), which enables everyday objects such as fridges and cars to communicate with each other. "The pace of innovation in automobile and IoT will increase dramatically and I think we look at it as a tremendous opportunity," Qualcomm Chief Executive Steven Mollenkopf said on a conference call.
Uber sees flying commuters in 10 years
By Alexandria Sage SAN FRANCISCO (Reuters) - Flying commuters like George Jetson could be whizzing to work through the sky less than 10 years from now, according to ride-services provider Uber, which believes the future of transportation is literally looking up. Uber Technologies Inc [UBER.UL] released a white paper on Thursday envisioning a future in which commuters hop onto a small aircraft, take off vertically and within minutes arrive at their destinations. It sounds like the opening sequence to "The Jetsons", the 1962 U.S. cartoon about a future filled with moving sidewalks, robot housekeepers and spaceflight, but Uber sees flying rides as feasible and eventually affordable.
Twitter cuts jobs with eye on 2017 profit; Vine discontinued
More than 300 Twitter employees will be affected by the layoffs as part of a broader restructuring, a figure similar to an earlier round of reductions announced a year ago. Separately, the company announced it would discontinue Vine, a video app launched in 2013 that played brief clips on a repeat loop that struggled to compete with Facebook's Instagram. Twitter, which has seen user growth stall amid competition from nimbler rivals such as Instagram and Snapchat, said its user base ticked up 3 percent to 317 million average monthly active users in the quarter.
Ford, GM pitch new strategies; Wall Street snubs them
Ford Motor Co and General Motors Co have worked all year to convince investors that they are no longer prisoners of the U.S. auto market cycle and have solid plans to fend off challenges from Silicon Valley interlopers. This week, Wall Street looked at the Detroit companies' stronger-than-expected quarterly results and turned thumbs down. GM, the largest U.S. automaker, reported record third-quarter net income on Tuesday, but its shares have fallen nearly 5 percent since then.
Belgium breaks deadlock over EU-Canada free trade pact
By Robert-Jan Bartunek and Philip Blenkinsop BRUSSELS (Reuters) - Belgium's regions agreed to a free trade pact with Canada on Thursday, ending weeks of uncertainty when internal divisions in just one country blocked the European Union of 500 million people sealing the landmark deal. Prime Minister Charles Michel said the regions and linguistic communities had drafted a four-page addendum to the pact that answered their concerns. The text addresses fears that a system to protect foreign investors could let multinationals block new rules on the environment, labour rights or public services - specifying that the "investment protection" regime would not come into force during an initial period.
U.S. Senate panel to hold hearing on AT&T-Time Warner deal on December 7
The U.S. Senate Judiciary Committee's antitrust subcommittee will hold a hearing on Dec. 7 on the proposed merger of Time Warner Inc and AT&T Inc , and the companies' chief executives will testify, the committee said in a statement.
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