Markets News Stocks 

Drop in leading stocks pushes EGX30 to decline further, though expected to bounce back this week

“On the other hand, the market capital was EGP 686.6bn during the last week, down 1.23% from the week before last” writes Fatma Salah for dailynewssegypt.com. The broader EGX100 index fell 1.57% to 1,360 points, and the EGX30 Capped index down 2.4%, closing at 15,784 points.Kamal expected the market to bounce back at the beginning of this week and test its resistance point at 13,500 points and then 13,700 points.Amin expected the index to move in the medium term between 13,000 and 15,000 points, predicting the market to rise again.…

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News Stocks 

Uber’s co-founder and former CEO Travis Kalanick sold off close to $166 million shares over the past three days, continuing to offload his stake in the ride-sharing giant

“The 43-year-old founder sold a little over 5.8 million shares between December 11th and December 13th, according to an SEC filing” writes Bani Sapra for businessinsider.com. In total, the Uber co-founder seems to have liquidated over $2 billion in Uber stock since early November.Uber co-founder and former CEO Travis Kalanick dumped close to $166 million of company stock over the past three days, continuing a selling streak that began in the first week of November.As of December 13th, the former chief executive holds 21 million shares.Kalanick raised eyebrows by selling…

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News 

Legg Mason Shares Cross Below 200 DMA

“In trading on Friday, shares of Legg Mason, Inc. (Symbol: LM) crossed below their 200 day moving average of $35.66, changing hands as low as $35.55 per share” writes Bnk Invest for nasdaq.com. Legg Mason, Inc. shares are currently trading down about 2.5% on the day.The chart below shows the one year performance of LM shares, versus its 200 day moving average: Looking at the chart above, LM’s low point in its 52 week range is $23.25 per share, with $40.27 as the 52 week high point — that compares…

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ABM Makes Notable Cross Below Critical Moving Average

“In trading on Friday, shares of ABM Industries, Inc. (Symbol: ABM) crossed below their 200 day moving average of $37.70, changing hands as low as $36.87 per share” writes Bnk Invest for nasdaq.com. ABM Industries, Inc. shares are currently trading down about 2.6% on the day.The chart below shows the one year performance of ABM shares, versus its 200 day moving average: Looking at the chart above, ABM’s low point in its 52 week range is $25.64 per share, with $42.67 as the 52 week high point — that compares…

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News 

DUK Crosses Above Key Moving Average Level

“In trading on Friday, shares of Duke Energy Corp (Symbol: DUK) crossed above their 200 day moving average of $90.33, changing hands as high as $90.37 per share” writes Bnk Invest for nasdaq.com. Duke Energy Corp shares are currently trading up about 0.9% on the day.The chart below shows the one year performance of DUK shares, versus its 200 day moving average: Looking at the chart above, DUK’s low point in its 52 week range is $82.46 per share, with $97.37 as the 52 week high point — that compares…

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Markets News Stocks 

Costco shares fall 1.9% as analysts view latest quarter as good but not stellar

“Costco Wholesale Corp. shares COST, -1.81% slid 1.9% Friday, as analysts weighing in on the company’s latest quarterly earnings said they were solid but not stellar” writes Ciara Linnane for marketwatch.com. “We would say that COST delivered a strong quarter by most retailers’ measures, but by Costco’s standards was somewhat average,” wrote Instinet analyst Michael Baker, who rates the stock as neutral.”While in no way a negative catalyst with the stock trading at ~34.5x FY20 consensus EPS, we think that the market would want more of a beat to get…

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News Stocks 

AT&T to raise quarterly dividend by 2% to 52 cents a share, retire $100 million of stock in Q1

“T, -0.35% said Friday its board has agreed to increase its quarterly dividend by 2% to 52 cents a share” writes Ciara Linnane for marketwatch.com. The company said it has begun retiring shares after entering a $4 billion accelerated share repurchase program and plans to retire about $100 million worth in the first quarter of 2020.The new dividend is payable Feb. 3 to shareholders of record as of Jan. 10. Source: marketwatch.com

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Brokers Markets News 

Broker Group Warns of Investor Risks Posed by U.S. Direct Share-Listing Proposal

“Nasdaq has said it also intends to file changes to its rules that would allow companies to raise funds, so-called primary capital, through a direct listing” writes Min Read for reuters.com. The New York Stock Exchange (NYSE) has filed an application with the SEC to allow companies going public to raise capital through a direct listing, instead of an initial public offering.NEW YORK/WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission risks weakening investor protections if it allows companies to raise money in the public market through a direct listing…

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Dow’s 50-point drop led by losses in shares of Verizon Communications Inc., Dow Inc.

“The Dow Jones Industrial Average is falling Friday morning with shares of Verizon Communications Inc. and Dow Inc. seeing the biggest losses for the price-weighted average” reports marketwatch.com. The Dow DJIA, -0.13% was most recently trading 50 points, or 0.2%, lower, as shares of Verizon Communications Inc.Verizon Communications Inc.’s shares are down $0.85, or 1.4%, while those of Dow Inc. have dropped $0.70, or 1.3%, combining for a roughly 11-point drag on the Dow.Editor’s Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet.Other components…

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