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Tribune stock tumbles after McClatchy bid dies

“Bloomberg reported that the McClatchy bid that was rejected was to include mostly cash and some stock, valuing Tribune at $16.50 a share” writes Keith J for nypost.com. News that the McClatchy bid for Tribune Publishing is dead as a doornail sent the stock spiraling to another new 52-week low on Tuesday — slumping to $12.40 a share before closing at $12.45, down 4.1 percent.But another line in the fast-flying rumor mill around the collapsed deal says that LA Times owner Patrick Soon-Shiong, who still owns 25 percent of Tribune…

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Stock market woes raise a nagging fear: Is a recession near?

“Both the previous two U.S. recessions overlapped with stock market sell-offs” reports thebusinessjournal.com. (AP) — Fears of a recession have been mounting with the U.S. stock market appearing to be headed for its worst December since 1931 — during the Great Depression.The fact is that the stock market captures just a piece of the broader U.S. economy.The fact is that economic growth around the world is slowing, including in the United States as the benefits from the tax cuts wane. Source: thebusinessjournal.com Share This:

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Takeda Pharma’s ADRs to trade on NYSE

“The company’s ADRs, which currently trade over the counter, will trade under the symbol TAK. Takeda will keep its headquarters in Japan and its primary listing on the Tokyo Stock Exchange” writes Claudia Assis for marketwatch.com. Ltd. said late Tuesday its American depositary shares will start trading on the New York Stock Exchange on Dec. 24. Source: marketwatch.com Share This:

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Art Cashin: The stock market rebound could be even bigger if not for increasing Fed worries

“Wall Street concerns about “unforeseen consequences” from another Federal Reserve interest rate hike were keeping a lid on Tuesday’s stock market rebound, according to veteran trader Art Cashin” writes Berkeley Lovelace Jr for cnbc.com. The market expects a more scaled-back rate path Wednesday.Against the backdrop of higher rates, investors are “very nervous” about global economic growth slowing and uncertainty around the U.S. trade war with China, said the UBS director of floor operations at the New York Stock Exchange.Cashin said there are several investors on the sidelines ahead of the…

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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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Sell-off forces Credit Suisse to slash 2019 S&P 500 target before year has even begun

“The bank has slashed its 2019 year-end S&P 500 price target to 2925 from 3350” writes Xinhua News Agency for cnbc.com. Recent wild rides in the stock market have forced Credit Suisse to cut its forecast for 2019.”Our lower price target reflects recent volatility, rather than a change in fundamental backdrop.While cutting the stocks’ price target, Credit Suisse kept the earnings per share estimates for 2019 and 2020 unchanged at $174 and $185, representing 6.7 percent and 6.3 percent gains, respectively.The stock market tumbled in recent months on recession fears…

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This positive data point says Santa may arrive at the stock market after all

“Ask Arora: Nigam Arora answers your questions about investing in stocks, ETFs, bonds, gold and silver, oil and currencies” writes Nigam Arora for marketwatch.com. Shouldn’t the gurus be first objectively looking at all of the data and not just the data that support action in stock prices?. Nothing has changed in the stock market in my three-plus decades in four respects. 1.At the top in the stock market, we were holding a good amount of cash and hedges. Source: marketwatch.com Share This:

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Plunging oil prices pull energy stocks lower, erasing gains

“On Tuesday, the Energy Information Administration said U.S. shale oil production will keep climbing in January, and the Wall Street Journal reported that oil production in Russia reached a record high in December” writes Marley Jay for seattletimes.com. NEW YORK (AP) — U.S. stocks are broadly lower Tuesday afternoon, and energy companies are falling after the price of crude oil plunged another 7 percent.The companies have taken huge losses this year as rising mortgage rates and prices have reduced home sales.Higher rates can slow economic growth, something investors are already…

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The Fed’s next decision is its most important in recent memory — and the future of the stock market is at stake

“The blonde-haired elephant in the room when it comes to the Fed decision is President Donald Trump’s continued insistence upon criticizing the Fed” writes Joe Ciolli for businessinsider.com. They’ll devour any bit of guidance from Powell and his colleagues for any hint of what’s ahead for interest rates.If the central bank signals too much future monetary tightening for the market’s tastes, the 10-year bull market could meet its demise.A big part of that stems from the turbulence that’s rocked the stock market in recent weeks.Read more:We just got the most…

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