News 

House GOP moves to pass budget, start tax debate

“House Republicans are focusing squarely on tax cuts rather than deficit discipline as they look to shoehorn a GOP budget plan through the House” reports foxbusiness.com. First comes action on the GOP budget plan, which under Washington’s arcane rules is nonbinding but would set up special procedures to pass follow-up tax legislation without the threat of a filibuster by Senate Democrats.An Associated Press-NORC poll released Wednesday found most Americans saying Trump’s tax plan would benefit the wealthy and corporations, and less than half believing his message that “massive tax cuts”…

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Heads-up News 

New York Trading Session Heads Up Thursday, October 26, 2017

New York opening news digest 8 stocks that could cash in on Trump’s tax overhaul A new ETF has launched for investors to get broad exposure to stocks that may benefit from President Trump’s proposed overhaul of the corporate tax system. Potential winners include Chipotle, Southwest and Ford.   South Korea’s economy and markets are flying high despite tensions The South Korean economy grew at its fastest rate in seven years in the third quarter, and the country’s stock market has soared to record highs.   Premarket: 5 things to…

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News 

Comcast quarterly profit tops estimates as broadband subscribers grow

“Overall, revenue in the cable business rose 5.1 percent, and NBCUniversal revenues rose 6 percent, excluding impact from the Olympics” reports foxbusiness.com. NEW YORK, Oct 26 (Reuters) – Comcast Corp reported quarterly profit that topped Wall Street estimates on Thursday as the No. 1 U.S. cable operator said it added broadband and home security customers even though it lost video subscribers.Comcast has been facing pressure in its video business as more consumers cancel their cable packages, sometimes in favor of cheaper streaming options like Netflix Inc.But Comcast has maintained that…

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News 

Twitter nears first profitable quarter as it slashes expenses

“Twitter reported third-quarter revenue of $590 million, down 4 percent from $616 million a year earlier” reports foxbusiness.com. In the United States, where growth had stalled earlier this year, the number of users rose to 69 million from 68 million, the company said.The company attributed much of the decrease to a previously announced decision to wind down its TellApart advertising product. Source: foxbusiness.com Share This:

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News 

Boston Scientific meets 3Q profit forecasts

“For the current quarter ending in December, Boston Scientific expects its per-share earnings to range from 32 cents to 35 cents” reports foxbusiness.com. Boston Scientific expects full-year earnings in the range of $1.24 to $1.27 per share, with revenue ranging from $8.99 billion to $9.02 billion.The company said it expects revenue in the range of $2.35 billion to $2.38 billion for the fiscal fourth quarter.The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 31 cents per share.Analysts surveyed by Zacks had expected revenue…

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News 

GOP budget poised for passage despite some Republican ‘no’ votes

“The faction led by Walker, R-N.C., includes 170 Republican lawmakers, a majority of the House Republican Conference, and the group supports the budget” writes Susan Ferrechio for washingtonexaminer.com. “It’s a critical step toward enacting pro-growth tax reform, and providing tax relief for families and job-creators is a goal that unites Republicans.”. That makes passing the budget a critical first step for tax reform.The Senate measure, which is non-binding and is not the actual tax legislation, includes language allowing a change in the local and state tax deduction. Source: washingtonexaminer.com Share This:

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News Oil 

Oil prices steady following pullback driven by inventory data

“Crude prices had pulled back Wednesday following the release of U.S. inventory data, showing a 856,000-barrel rise in crude stockpiles in the week ended Oct. 20” writes Christopher Alessi for marketwatch.com. The EIA data also showed U.S. oil production had returned to pre-hurricane levels, climbing to more than 9.5 million barrels a day.Oil prices were mainly flat Thursday, as the market held steady in a newfound, higher range for crude. Source: marketwatch.com Share This:

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