News 

Micron shares drop more than 7% after missing on revenue

“Micron Technology shares dropped more than 6 percent during after hours trading Tuesday after the company missed revenue expectations in its quarterly earnings” writes Waverly Colville for cnbc.com. The company reported $7.91 billion, missing revenue estimates of $8.02 billion.The Boise, Idaho-based company announced in September that President Trump’s tariffs on Chinese goods will hurt its profitability.Micron said the impact of US tariffs were a half percent of its gross margin in the fiscal first quarter. Source: cnbc.com Share This:

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News Stocks 

Attorney behind a huge talc verdict: J&J’s stock drop ‘serves my purposes’ in seeking a settlement

“Attorney Mark Lanier, who won a nearly $4.7 billion talc verdict against Johnson & Johnson this summer, told CNBC on Tuesday that the recent plunge in shares of J&J plays into his hands in seeking a settlement with the company” writes Matthew J for cnbc.com. “If the company handles the litigation right, it’s extremely manageable for a company the size and strength of J&J,” Lanier said. Source: cnbc.com Share This:

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News Stocks 

Xi Jinping promised ‘miracles’ in a gloating speech about China’s economy, but the markets slumped

“Jason Lee/Reuters Investors had been watching Xi’s speech for hints on how he would deal with China’s domestic economy, none of which came” writes Alexandra Ma for businessinsider.com. “As such, it is unlikely to galvanize financial markets anxious about the trajectory of China’s economic growth and prospects for the US-China trade talks.”. Xi’s speech marked 40 years since China’s opening up its economy to the rest of the world.Asian stocks edged down after Chinese President Xi Jinping made a gloating speech lauding his country’s economic progress, and promised to produce…

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Markets News 

Markets Right Now: Another steep drop pulls Dow down 500

“The Dow Jones Industrial Average plunged 500 points, its second straight drop of that size and its fourth big decline this month” reports thebusinessjournal.com. The S&P 500 index fell 21 points, or 0.8 percent, to 2,578.The S&P 500 index fell 8 points, or 0.3 percent, to 2,591.The market is now well into the red for the year and the S&P 500 index is trading at its lowest level since October 2017. Source: thebusinessjournal.com Share This:

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Futures News Oil 

U.S. oil prices drop 1 percent on oversupply fears

“Crude oil prices were lower amid fears of weaker demand pushing inventories higher in the United States,” ANZ Bank said on Tuesday” writes Midwest Communications Inc for 95kqds.com. U.S. crude prices have tumbled more than 35 percent since early October and are currently at levels not seen since October 2017.International Brent crude oil futures had yet to trade.Concerns around future oil demand amid weakening global economic growth and doubts on the impact of planned OPEC-led production cuts were also hurting prices, traders said.Fuelling those doubts, Russian oil output has been…

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Mercedes, Tesla lowering prices in China amid easing tariff tensions

“Full details of China’s forthcoming reduction of its tariffs on US-built cars aren’t even out yet, but already, automakers have reacted by reducing prices” writes Andrew Krok for cnet.com. The price drop goes into effect on Jan. 1, the same day China promised to reduce its tariffs.The Verge reports that Tesla will drop the prices of the Model S and Model X in China by about $15,000 and $9,500, respectively.Last week, the world received official confirmation that trade tensions between the US and China were easing. Source: cnet.com Share This:

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Crypto Markets News 

Blame Regulation or Speculator Sell-Off… But the Crypto Community is Responsible for the Most Recent Price Drop

“The ugly truth is that the crypto community, the many of the true believers, may be responsible” reports livebitcoinnews.com. The crypto community has to find its feet and square up before they can hope for widespread, positive adoption.This highlights two problems with the crypto community: fragmentation and individuals with too much power.Ultimately the crypto community needs to take a long, hard look at their practices to ensure that Bitcoin and crypto can flourish in the future.If the crypto community is actually worried about impending government regulation making or breaking the…

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Red Sox owe almost $12M in luxury tax, top 2019 draft pick will drop 10…

“Boston, which won the 2018 World Series, must pay $11,951,091 in luxury tax, according to a report from the Associated Press” reports sportingnews.com. The Red Sox’s top pick in the 2019 amateur draft will be dropped 10 places because they went $40 million over the tax threshold, according to the report.The Nationals, whose payroll was $205 million, were the only other team to exceed the tax threshold and owe $2,386,097, according to the report. Source: sportingnews.com Share This:

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Election results in India show huge drop in support for BJP and revival for Congress

“They show a huge drop in support for the BJP and a revival for the Congress” reports tehrantimes.com. In an interview to Tehran Times, he spoke about last weeks assembly elections in India, and how its outcome can influence the results of general elections in India early next year.Q. Is it true that the Bharatiya Janata Party (BJP) is overwhelmingly dependent on PM Narendra Modi to win elections?.  Source: tehrantimes.com Share This:

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US officials pressure T-Mobile, Sprint parent companies to drop Huawei, too

“US officials pressure T-Mobile, Sprint parent companies to drop Huawei, too It would appear that the United States Government is putting pressure on Huawei not only inside the USA, but abroad as well” reports slashgear.com. Now it would seem that the US government wants not only T-Mobile and Sprint to continue to avoid Huawei, it wants their parent companies to drop Huawei hardware as well.On concerns that the brand Huawei is a sort of spy for the Chinese state, the US Government effectively carpet-bombed Huawei out of North America –…

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