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U.S. core retail sales surge in November

“Economists polled by Reuters had forecast core retail sales rising 0.4 percent last month” reports businessinsider.com. November’s increase in core retail sales suggested a brisk pace of consumer spending in the fourth quarter.These so-called core retail sales, which correspond most closely with the consumer spending component of gross domestic product, were previously reported to have gained 0.3 percent in October.Overall retail sales, however, rose 0.2 percent in November as cheaper gasoline undercut sales at service stations.Online and mail-order retail sales surged 2.3 percent, the largest gain in a year. Source: businessinsider.com…

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Tesla shares could surge nearly 27% as it becomes ‘sustainably profitable,’ Baird says

“Shares of electric car maker Tesla could jump sharply in the next year as the company starts making money more consistently, according to an analyst at Baird” writes Fred Imbert for cnbc.com. Tesla reached its 2018 high after CEO Elon Musk tweeted in August he had “funding secured” to take the company private.Tesla shares rose 1 percent to in the premarket Thursday, to $370.30.Moving forward, “we continue to believe there are several catalysts upcoming which could drive shares higher, and first-half 2019 results could benefit from easy comps given the…

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GE shares surge 12% after JP Morgan analyst who called their decline says the bottom is near

“GE shares jumped 12 percent in premarket trading to $7.41 from Wednesday’s close of $6.71 a share” writes Michael Sheetz for cnbc.com. GE shares fell as low as $6.66 this week, which was their low close during the financial crisis.Tusa said in the note that he sees “upside risk” to the stock of $8 and “downside risk” of $5.Tusa put out a bearish note on GE in May 2016 when the stock was above $30 that questioned the conglomerate’s earnings and cash flow outlook. Source: cnbc.com Share This:

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UPDATE: GE shares surge 12% premarket on news of new IoT business, JPMorgan upgrade

“The company will bring together GE Digital’s IIoT products, and the GE Power Digital and Grid Software Solutions businesses, the company said in a statement” writes Ciara Linnane for marketwatch.com. GE, -0.74% said Thursday it is launching a $1.2 billion industrial internet-of-things software company, which will be wholly owned by independently run with its own board of directors.GE Digital CEO Bill Ruh is leaving the company to pursue other opportunities.Shares rose 12% in premarket trading, but are down 62% in 2018, while the S&P 500 SPX, +0.54% has fallen 0.8%.The…

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Asian shares surge as US-China trade thaw seen, sterling wobbles

“Major economic growth targets and policy goals are discussed but typically not publicly announced until the National People’s Congress in March” writes Midwest Communications Inc for 95kqds.com. Regional gains were concentrated in Chinese shares, with Chinese blue-chips up 1.9 percent and Hong Kong’s Hang Seng index gaining 1.4 percent.Some analysts expect China’s economic growth could slow to around 6 percent next year, the slowest pace since 1990, from around 6.5 percent in 2018. Source: 95kqds.com Share This:

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Deutsche Bank shares surge on report Germany plans to fix bank’s problems with merger

“Shares of Deutsche Bank surged Wednesday after Bloomberg News reported the German government plans to push for a merger to save the struggling bank” writes unknown author for cnbc.com. Bloomberg, citing people familiar with the matter, reported Germany plans on working on a merger between Deutsche Bank and Commerzbank.Deutsche Bank has had a tumultuous 2018, with its shares falling more than 53 percent as it failed to revive revenue growth.The report also said the government could look to change its tax law to help the merger go through. Source: cnbc.com Share…

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Markets News Oil 

OPEC’s oil production dips in November as Iranian output plunge offsets Saudi surge

“Oil production from OPEC nations dipped in November, as a sharp drop in Iranian supplies offset a surge in Saudi output to all-time highs” writes unknown author for cnbc.com. Slowing economic growth and financial strain in key oil-consuming nations are also raising concerns about energy demand in 2019.The decision follows a plunge in oil prices since the start of October, in part due to projections that the oil market will be oversupplied next year. “Rising trade tensions, monetary tightening and geopolitical challenges are among the issues that skew economic risks…

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Sparton shares surge 38% on news company is being acquired by Cerberus

“Sparton shares are down 40% in 2018 through Tuesday’s close, while the S&P 500 SPX, -0.04% has fallen 1.4%” writes Ciara Linnane for marketwatch.com. Sparton Corp.’s shares SPA, -0.61% soared 38% in premarket trade Wednesday, after the maker of electromechanical devices for the medical, military and industrial sectors said it has agreed to be acquired by private-equity firm Cerberus for $18.50 a share in cash.The price offers a premium of 41% over Sparton’s closing share price on Dec. 11 and comes after a review of the company’s strategic alternatives, that…

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China’s crackdown on video game addiction sparks global debate over censorship

“With hundreds of millions of people glued to their screens from Beijing to Bristol, around the world the video gaming industry continues to surge in popularity” writes Matthew Field for telegraph.co.uk. From school-children battling on Fortnite in their bedrooms, to adults on their daily commute tapping away at Candy Crush on their smartphones, video gaming has become as intrinsic a ritual of modern life as watching television was for earlier generations.With new releases such as Red Dead Redemption 2 and Fifa 18, the industry is expected to generate $138bn (£110bn) in…

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Hyundai Motor unveils sweeping executive reshuffle, shares surge

“Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis , Hyundai Wia and Hyundai Glovis also rallied” writes Midwest Communications Inc for 95kqds.com. The move follows the promotion of Euisun Chung in September to Hyundai Motor’s executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. Source: 95kqds.com Share This:

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