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Adobe lifts earnings forecast on tax reform boost

“(Reuters) – Photoshop maker Adobe Systems Inc on Monday lifted its forecast for yearly earnings per share, helped by new U.S. tax laws, saying it expects its effective tax rate to decline “substantially.”” reports businessinsider.com. Adobe said it expects earnings of $6.20 per share for fiscal year 2018, up from a previous forecast of $5.50. Source: businessinsider.com Share This:

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UnitedHealth 4Q earnings, 2018 guidance soar

“It expects revenue in 2018 to range between $223 billion and $225 billion” writes The Associated Press for seattletimes.com. Analysts forecast earnings of $2.51 per share on $51.54 billion in revenue for the Minnetonka, Minnesota, company, which is the first big insurer to report results every quarter.Fourth-quarter earnings climbed to $3.62 billion, as total revenue rose over 9 percent to $52.06 billion.For the full year, UnitedHealth earned $10.56 billion on more than $200 billion in revenue.Adjusted earnings came in at $2.59 per share, excluding the tax overhaul gain. Source: seattletimes.com Share…

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Giant bird masterfully photobombs weather forecast during live broadcast

“A picturesque view of the San Francisco Bay was suddenly interrupted by a giant bird on Friday” writes Brian Koerber for mashable.com. KTVU’s Mark Tamayo was delivering the weather forecast in front of a live shot of the city when out of nowhere a bird’s beak appeared. Fearing for his life, Tamayo backed away from the green screen, and the bird — seemingly bored with the weather forecast — left the shot shortly after. Source: mashable.com Share This:

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UK economy grew at weakest pace in five years in 2017 says PwC

“The UK slowdown comes as GDP growth in the eurozone and the US picks up strongly” writes Ben Chu for independent.co.uk. The Office for National Statistics will release its preliminary official estimate for Q4 2017 growth on 26 January.This would take calendar year growth to 1.8 per cent, down from 1.9 per cent in 2016 and the weakest expansion since the 1.5 per cent growth seen in 2012, at the height of the eurozone crisis.PwC’s forecast for the UK is notably weaker than the latest GDP estimate earlier this week from…

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Early election forecast: Republicans could lose 38 seats and House majority

“To produce a House forecast, I drew on a forecasting model originally developed by the political scientists Michael Lewis-Beck and Tom Rice” reports washingtonpost.com. Lewis-Beck and Rice’s Senate model is similar to the House model, but includes an additional factor: how many seats the president’s party has up for election.The well-known historical pattern is that the party that does not hold the presidency gains seats in the House in midterm elections. Source: washingtonpost.com Share This:

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World Bank predicts solid 3.1 percent global growth in 2018

“The World Bank on Tuesday upgraded its global growth forecast for 2018 by 0.3 percentage point from the projection it made in June” reports foxbusiness.com. The World Bank predicts that the global economy will grow 3.1 percent this year, which would be its best showing in seven years.The U.S. economy will grow 2.5 percent this year, the World Bank now predicts, up 0.3 percentage point from its June estimate.The World Bank forecast that China, the world’s second-largest economy, will grow 6.4 percent this year. Source: foxbusiness.com Share This:

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Dimon thinks even his own economist at J.P. Morgan is dead wrong about GDP, predicts 4% U.S. growth

“As a whole, we look for the package to boost GDP growth by about 0.3%-pt in 2018 and 0.2%-pt in 2019, according to his recent research report” writes Mark Decambre for marketwatch.com. However, few prominent economists are expecting GDP growth to hit a stellar 4% pace this year.CEO Jamie Dimon, who offered a forecast for U.S. economic growth that outstrips even some of the more bullish economists.Dimon said he expects the “competitive tax rate” to encourage deal-making on Wall Street, pointing to Europe which he said is on pace to…

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Goldman’s oil analyst gives his tips on making money in a flat market

“Oil traders are well-positioned to generate returns despite the likelihood of prices falling away from multi-year highs over the coming months, according to a senior analyst at Goldman Sachs” writes Brent Lewin for cnbc.com. Oil prices rose to their highest level since mid-2015 on Tuesday, as political concerns among some OPEC nations offset projections for higher U.S. oil production.Alongside its allied producers, the 14-member cartel is keeping supply limits in place for a second consecutive year in order to try and clear a price-denting glut of oil inventories. Source: cnbc.com Share…

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Target Corp’s holiday sales rise 3.4 percent, boosts profit forecast

“(Reuters) – Target Corp on Tuesday said its comparable store sales for November and December rose 3.4 percent, driven by strong traffic growth and online sales, leading it to raise its fourth quarter profit forecast” reports businessinsider.com. The company said it expects fourth-quarter adjusted earnings of $1.30 to $1.40 per share, compared with a previous forecast of $1.05 to $1.25. Shares of the Minneapolis-based retailer rose 1.6 percent in premarket trading on Tuesday. Source: businessinsider.com Share This:

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Lululemon predicts short-term pain, long-term gains from tax bill

“Lululemon boosted its fourth-quarter sales forecast 3.4 percent on Monday to $915 million after higher-than-anticipated holiday sales” writes James Langford for washingtonexaminer.com. Still, Lululemon expects a boost this year from the law’s reduction of the top corporate tax rate to 21 percent from 35 percent; its effective rate for 2017 was about 30.4 percent.Lululemon, the apparel retailer known for yoga garments, said Monday its profit will be pinched by President Donald Trump’s tax overhaul before the benefits of a significantly lower rate kick in.The tax bill also offered a break…

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