Oct 19, 2016
The Wall Street Journal
|Biggest Gainers Closing|
The Wall Street Journal
|Biggest Decliners Closing|
Wall Street Closing Report on October 19, 2016: Stocks Close Mostly Higher After Fed's Geige Book Beat, Energy Leads
Stocks closed mostly higher on Wednesday, helped by better-than-expected earnings and rising oil prices, following the release of key economic data from the Federal Reserve.
Today From The FTC - October 19, 2016: FTC Presents Criminal Liaison Unit Award to Fraud and Cybercrime Unit of the U.S. Attorney’s Office for the Southern District of New York | Manufacturer of Kwik Fix, Hammer Tite, and Krylex Glues Settles with FTC, Agrees to Drop Misleading ‘Made in USA’ Claims
In its glory days, Yahoo had a garish mock hotel sign in San Francisco that billed the service as “a nice place to stay on the internet.” It may be again — but only after a fashion.
As Vindu Goel reports, an increased number of people were drawn to Yahoo in September. The reason may have been Yahoo’s disclosure that month that hackers stole data on 500 million users in 2014.
Yahoo’s chief executive, Marissa Mayer, did not give a reason for Yahoo’s traffic bump, which she described during a discussion of the company’s third-quarter earnings. It may have been a greater awareness, as customers remembered that they had accounts there, or it may have been people checking on their accounts and changing their passwords.
Neither of those scenarios suggests long-term loyalty or the kind of delight that draws new advertisers.
It may also have been a riposte to Verizon Communications, which had agreed to acquire Yahoo for $4.8 billion but last week said the data breach may have devalued Yahoo enough to justify renegotiating the price. Ms. Mayer was indicating business was normal, if not better.
So far, it’s arguably worse. Yahoo’s third-quarter revenue, after adjusting for accounting charges, was down 15 percent from a year ago. Profits were better than expected, largely because Ms. Mayer spent less capital and laid off about 300 people.
Yahoo’s traffic has been declining for a long time, overtaken by more adept, varied and apparently secure places to stay on the internet. Perhaps Verizon can renegotiate if it simply drags out the deal and traffic slows.
Of course, then it has less of an asset to stitch into a content business that already includes AOL.
Spot Prices as of traditional New York closing times
Wednesday, October 19, 2016
European Closing Report on October 19, 2016: Europe Shares End in Green ; Central Banks Dominate Sentiment; Travis Perkins Slips 4.44%
Gemma Acton, Sam Meredith
European shares closed in the green on Wednesday, bolstered by rising oil prices as investors exercised caution ahead of a key Federal Reserve data release and Thursday's European Central Bank (ECB) meeting.
From MarketWatch | U.S. Market - October 19, 2016: Stocks Markets Loses its Grip on Rallies at 3% Distinct Times During The Day at 9:50 a.m. ET, by Marrk DeCambre
Unfortunately for investors, the market hasn’t been able to hold on to early gains lately. What used to be a trend of late-session buying—a trend that had emerged in the wake of the U.K.’s decision to exit from the European Union on June 23—has morphed into a pattern of selling.
Asian Markets Closing Report on October 19, 2016: Most Asian MarketsAdvance as China's Q3 GDP Matches Expectations
Markets in Asia mostly advanced on Wednesday, following government data that showed the Chinese economy grew in line with expectations for the July-September quarter.