News Stocks 

Cisco stock up on upbeat earnings, revenue growth forecast

“Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO” writes The Associated Press for seattletimes.com. SAN JOSE, Calif. (AP) — Shares of Cisco Systems Inc. rose in after-hours trading Wednesday after the internet gear maker reported better-than-expected earnings and forecast revenue growth after two years of decline.Cisco stock rose 6 percent to $36.10 in after-hours trading.But it forecast an end to that streak, saying it expects revenue growth of between 1 to 3 percent in the current quarter.The seller of routers, switches, software and services posted revenue of $12.14 billion…

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Target’s holiday-quarter profit forecast disappoints, shares dip

“Excluding items, the company earned a profit of 91 cents per share, beating the average analyst estimate of 86 cents” reports foxbusiness.com. The Minneapolis-based retailer forecast adjusted earnings of $1.05 to $1.25 per share for the quarter ending January 2018, considerably below the average analyst estimate of $1.24. Sales rose 1.4 percent to $16.67 billion, higher than the average analyst estimate of $16.61 billion.Same-store sales in the third quarter also topped estimates, rising 0.9 percent as the price cuts drove a 24 percent jump in comparable online sales. Source: foxbusiness.com Share…

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Target forecasts a disappointing holiday quarter

“Excluding items, the company earned a profit of 91 cents per share, beating the average analyst estimate of 86 cents” writes Sruthi Ramakrishnan for businessinsider.com. (Reuters) – Target Corp issued an underwhelming profit forecast for the key holiday quarter, as it continues to depend on price cuts to drive traffic to its stores and websites, sending its shares down 3 percent in premarket trade.The department store operator forecast adjusted earnings of $1.05 to $1.25 per share for the quarter ending January 2018, largely below the average analyst estimate of $1.24.The…

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Forecast for 2018: Singapore employees to receive 2.7% real wage increase

“Singapore professionals can expect to see a real salary increase of 2.7% in the coming year, after factoring in inflation which is predicted to be 1.3%” writes Sujin Thomas for businessinsider.sg. In real terms, Australians will see the lowest increase in their pay with real wages expected to rise only 0.8%.The global top spot for salary increases is clinched by Argentina – which jumped 22 places – which is set to receive an impressive 7.2% real salary rise next year.Meanwhile, employees in Japan will receive the lowest rate of increase…

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News Oil 

Oil prices fall sharply as IEA cuts global demand forecast

“Oil prices headed lower Tuesday after the International Energy Agency cut its global oil-demand forecasts, offsetting a more bullish outlook from OPEC released a day earlier” writes Markets Commodities Reporter for marketwatch.com. However, on Monday, OPEC raised its forecast for oil demand this year and in 2018.The global benchmark, Brent crude for January LCOF8, -2.64% gave up $1.27, or 2%, to $61.89 a barrel on the ICE Futures Europe exchange.December gasoline RBZ7, -3.02% fell 1.6% to $1.765 a gallon and December heating oil HOZ7, -2.42%  edged down by 1% to…

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Markets News 

Home Depot Profit Beats as Hurricanes Spur Demand

“The company had previously forecast sales growth of 5.3 percent and comparable sales to increase 5.5 percent” writes Min Read for reuters.com. Home Depot, which again raised its full-year forecasts, said hurricane-related sales added about $282 million to comparable sales in the third quarter. Home Depot also raised its profit forecast for the third time this year, raising it to $7.36 per share from its previous forecast of $7.29.(Reuters) – Home Depot Inc (HD.N), the largest U.S. home improvement chain, beat analysts’ quarterly profit and sales estimates, as hurricanes Harvey…

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Vodafone upgrades its growth forecast for the first time in ‘recent history’

“The European ban on roaming fees had less of an impact that the company feared and service revenues across the continent were stronger than expected” writes Matthew Lynn for telegraph.co.uk. Vodafone upgraded its financial forecasts after it reported better than expected performance in the first half of the year, assisted by a £100m compensation cheque from BT’s network business Openreach.The company received a £100m settlement from Openreach after Ofcom found it had avoided paying compensation for installation delays.That compares with its earlier forecast of 8pc growth to a maximum of €14.5bn. Source:…

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News Oil 

Oil Slides on Bullish Shale Growth Forecast

“OPEC also sharply increased its demand forecast for 2018, raising expected demand by about 400,000 barrels per day for the coming year to 33.4 million barrels per day” writes Paul Whitfield for thestreet.com. Oil prices lost ground for the third consecutive day Tuesday, Nov. 14, falling to their lowest mark in a week on expectations that U.S. shale oil output will rise for the rest of the year, offsetting cuts from OPEC producers.That forecast was enough to offset news of OPEC’s over-compliance with its production caps and comments from OPEC…

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EU Commission sees Greek primary surplus at 3.9% GDP in 2018

“Greece’s primary surplus is likely to rise to 3.9 percent of GDP, beating a target of 3.5 percent, next year when the country is to exit the latest euro zone bailout programme and return to market financing, the European Commission forecast on Thursday” writes unknown author for cnbc.com. In a regular forecast for all European Union economies, the Commission said that Greece would have a primary surplus — the budget balance before debt servicing costs — of 2.0 percent this year.The Commission also forecast that Greek public debt, the highest…

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EU cuts UK growth forecast as eurozone motors ahead

“The International Monetary Fund is expecting UK growth of 1.7% this year, while the Organisation for Economic Cooperation and Development is forecasting growth of 1.6%” writes Larry Elliott for theguardian.com. For the eurozone as a whole, the pace of growth is expected to slacken slightly to 2.1% in 2018.Brussels believes that the UK economy will slow further to 1.3% in 2018 and 1.1% in 2019 – with growth of just 0.3% in every quarter for the next two years.The European commission enters key Brexit talks with the government with the…

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