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Apple’s stock falls after Goldman cuts price target, iPhone unit estimates

“AAPL, +0.23% dropped 1.4% in premarket trade Tuesday, after Goldman Sachs slashed its price target by 13% and cut iPhone unit estimates in the wake of a profit and sales warning from supplier Lumentum Holdings Inc” writes Reporter Editor for marketwatch.com. LITE, +4.03% Analyst Rod Hall lowered his price target to $209 from $240, and reiterated the neutral rating he’s had on Apple since Feb. 6.Apple’s stock has shed 16% since its Oct. 3 record close of $232.07 through Monday, while the Dow Jones Industrial Average DJIA, +0.26% has lost…

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Threat of a looming ban on menthol cigarettes weighs on tobacco stocks

“He estimates menthol cigarettes are about 18 percent to 20 percent of BAT’s cigarette volumes and about 15 percent to 17 percent of profits” writes Joe Raedle for cnbc.com. However, they noted menthol cigarettes make up a sizable chunk of profits at British American Tobacco, Altria and Imperial Brands.Tobacco stocks slid Monday as investors feared the consequences of a possible ban on menthol cigarettes, which the U.S. Food and Drug Administration is expected to propose this week. Source: cnbc.com Share This:

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Norwegian Cruise shares surge 4% after earnings top estimates

“Norwegian Cruise Line Holdings Ltd.’s shares NCLH, +3.40% surged 4% in early trade Thursday, after the company reported stronger-than-expected earnings for the third quarter” writes Ciara Linnane for marketwatch.com. Adjusted per-share earnings came to $2.27, ahead of the FactSet consensus of $2.21. revenue rose 12.5% to $1.9 billion to top the FactSet consensus of $1.8 billion.The company raised its full-year adjusted EPS guidance to $4.85. Source: marketwatch.com Share This:

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Wells Fargo finds another 145 customers who lost homes after glitch

“New York (CNN Business) Wells Fargo has identified 145 more customers whose homes were foreclosed on because of an apparent computer glitch” writes Cnn Business for cnn.com. Wells Fargo now estimates that about 545 homeowners lost their homes after they were “incorrectly denied” a loan modification or deemed ineligible to apply.All told, Wells Fargo said about 870 customers were incorrectly denied a loan modification or were not offered a loan modification for which they would have qualified.Wells Fargo said that it has contacted most customers who were impacted to fix…

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Match Group’s shares plummets 18% after weak revenue guidance

“Match Group shares plunged 18 percent on Wednesday after the company gave fourth-quarter revenue guidance that missed estimates, and spooked investors” writes Andrew Harrer for cnbc.com. However, the company’s third-quarter earnings and revenue results beat estimates.Match reported earnings of 39 cents per share on $443.9 million in revenue, while Wall Street expected earnings of 36 cents per share on $438.1 million in revenue, according to data from Refinitiv. Source: cnbc.com Share This:

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Tinder-owner Match profit forecast disappoints, shares slide

“Match Group said it now expects full-year revenue to approach the top end of its prior forecast of $1.68 billion to $1.72 billion” writes Min Read for reuters.com. (Reuters) – Match Group Inc forecast current-quarter adjusted earnings below analyst estimates on Tuesday, hit by higher spending for Tinder and its other dating apps, sending its shares down 10 percent in after-market trade.On an adjusted basis, the company earned 39 cents per share, above analysts’ estimates of 36 cents. Source: reuters.com Share This:

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Netflix Stock Seen Rebounding 10% Short-Term

“But it had little effect on lifting the stock, as the stock market was hit a by a wave of increasing levels of volatility” writes Michael J for investopedia.com. With the calls trading at roughly $12.50 per contract, a buyer of the calls would need the stock to rise to approximately $347.50, or 10%, from the current stock price.It would seem that at least some traders are betting Netflix leads a broader stock market recovery.But now some options traders are betting the stock rebounds in the coming weeks by 10% from its current price of…

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Alibaba quarterly revenue falls short of estimates

“Revenue from cloud computing grew 90.5 percent to 5.67 billion yuan and about 24 percent in entertainment and digital media to 5.94 billion yuan” writes Midwest Communications Inc for 95kqds.com. (Reuters) – China’s Alibaba Group Holding Ltd reported lower-than-expected quarterly revenue on Friday, another sign of slowing momentum for China’s giant e-commerce platforms and its economy.Revenue rose 54.5 percent to 85.15 billion yuan ($12.39 billion) for the three months through September, compared with the expectation of 86.51 billion yuan, according to IBES data from Refinitiv. Net income attributable to ordinary…

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Apple’s earnings soar, but iPhone sales miss estimates

“Apple reported record sales and profits for the September quarter, though unit sales for the iPhone were lower than some analysts were looking for” reports axios.com. Apple reported per-share earnings of $2.91, on revenue of $62.9 billion, compared to analysts expectations of $2.79 and revenue of $61.49 billion.The company saw double- digit gains in revenue from last year in every part of the world, led by Japan, where sales were up 34 percent. Source: axios.com Share This:

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Fitbit pops over 25% on earnings, and the CEO raves about strong smartwatch sales

“Shares of Fitbit jumped more than 25 percent in early trading Thursday after the wearables company beat estimates on earnings and revenue” writes Lauren Feiner for cnbc.com. San Francisco-based Fitbit surpassed expectations for a 1-cent loss per share in the third quarter, reporting earnings of 4 cents per share.Fitbit delivered mixed guidance for the fourth quarter, forecasting over 7 cents per share, beating analyst estimates of 6 cents.The wearables company beat on revenue as well, reporting $394 million for the quarter. Source: cnbc.com Share This:

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