Read this First 10/24/2019
No Safe Spaces .. No, that is not a new mantra at an "Enlightened College". It's a new Documentary ...and if the producers aren't Rant Readers they certainly act like they are. If you like reading the Rant, you should probably try to get this film shown in your town. It's about the Freak-O's in our education systems and our college campuses that claim to be "Fighting Fascism" when they themselves are Fascist. I've said it a million times, if you do not believe in Free Speech for the people you don't like then you do not believe in Free Speech. The film is fairly balanced with some Liberals from CNN, some comedians, some conservatives, some clinical psychologists..etc. No, there is no RAJ.. but it's still worth seeing. Click HERE to try to get it shown in your area.
Russian Military Police arrived at the Syrian/Turkish Border town of Kobani. The "Agreement" is for Russian military police and Syrian Border guards to "facilitate the withdrawal of YPG Forces 30km away from the border. Then for Russian/Turkish forces to patrol the areas to the east and west as part of "Operation Peace Spring" .. President Trump is declaring that a "Permanent Cease Fire" has been made and that HE is responsible. OH BROTHER.. Now, his point that "all of the "So-called Experts" that advised him against withdrawing our troops from the border areas are the same "experts" that have been getting it wrong for decades" DOES have some merit. We've been the "Big Brother Police" for too long in too many places. But, I have a BIG problem with the "Permanent Cease Fire" thing. Permanent? Are you kidding? You cannot have "Peace" when you have Religious based governments. The Cease fire will end at some point. Let's just hope its not over by the time I hit "Send" on today's Rant!! .. ..and...
Down in the Swamp: A group of Republicans staged a "Sit-In" at Democrat Adam Schiff's closed door impeachment inquisition forcing him to suspend for the day. Schiff just got up and walked out. These people are all circus clowns. They bullied Facebook's Mark Zuckerberg to get their TV Time and Soundbites in then hold secret hearings.. and the Republican's just try to "Out-Circus" the Circus... Riddle me this, Batman, "With these Jokers all playing clown games... What happens on November 21st when the Government is due to shut down?" If the Government is shut because the Appropriations bill isn't passed/signed the Impeachment Inquisition cannot proceed. If you think Trump is unaware of this you have NOT been paying attention...and ...
A lot is being made of President Trump using the expression "Lynching" to describe the Impeachment Inquisition. Liberals erupted with "RACIST" and "DISGUSTING". Conservatives responded with, "Joe Biden said the SAME THING about Clinton" (He did) and "Jerry Nadler used the same word" (He did, too). OK.. so.. Here is the RAJ truth. The way things SHOULD be. It was a DUMBASS thing to say. There are about 170,000 words in current use in the English Language. If you got tired of using "Witch Hunt" (Which was a GOOD choice of words because you will only anger witches..and they aren't going to vote for you anyway) then say "unfair persecution" .. or ... "useless fishing expedition". No one should defend Trump.. or try to play "You said it, too". ALL of the Swamp-rats should say it was a stupid choice of words.. and Trump should apologize (Fat Chance) or at least retract and rephrase. ... and...
The House ACTUALLY passed a Bill that might become also pass the Senate and become a law. The Bill makes animal cruelty a felony. Hmmm.. I'm all for protecting animals.. but isn't it kind of sad that cruelty toward HUMANS is just FINE.. but animals is a FELONY? ..
SPORTS: World Series GAME 2 was blowout. The Nationals win 12-3 and head back to Washington with a 2-0 series lead. Justin Verlander made history with his 200th Post season Strikeout. But, he got the loss, too. The Ratings from Game 1 are in and they are down 8% from last year. Fox cannot be TOO mad about that..but they surely would have preferred a big market Yankees/Dodgers series.. GOLF: Its Tiger Woods and Gary Woodland at the top of the Leaderboard after one round of the ZOZO Championship in Japan. .. and.. What do you do if you're throwing out the first pitch at a World Series game and you cannot really throw? Simone Biles has the answer. She just stood halfway between the pitchers mound and home plate and did a BACKFLIP!! While the crowd cheered she heaved the ball at the plate!! HERE
CELEBRIDIOTS: You are having a better morning than former Supermodel Cindy Crawford. The Papparazzi are posting photos all over the place of actor/addict/comedian 26 Year old Pete Davidson leaving Kaia Gerber's apartment after spending the day with her. Kaia is Cindy's 18 year old daughter. He probably just slept on the floor, right? ...and .... Martha Stewart told Felicity Huffman to up her Prison wear game. Martha says Felicity needs to "Style herself more.. she looks a little Schlumpy" in her green prison jumpsuit. . Wow. Serving a two week sentence and getting crapped on by former Jailbird, Martha Stewart!! .. Well, at least Felicity got GOOD news. She will be released after two weeks. A DAY EARLY from her 15 day sentence. Normal treatment for good behavior? or White Privilege?? .. Selena Gomez posted a new song, "Lose you to Love Me" that is a pretty obvious reference to her break up with Justine Bieber. Bieber's new wife Hailey Baldwin claims it had NOTHING to do with it but minutes later posted a song, "I'll Kill You" by Summer Walker. HERE . Coincidence?? or CAT FIGHT !!!?????!?!?! This is a real tough one.. but. Who ya got? Selena HERE or Hailey HERE? Hard to say they are not both WINNERS ..
European stocks trade slightly higher as investors try to focus their attention away from the U.K. Brexit drama toward corporate earnings. The Stoxx 600 Index is up 0.3% at last check, with auto stocks doing the heavy lifting. Meanwhile, Asian markets were mostly higher following the blitz of earnings reports from the U.S. and no negative developments on the trade war front. Hong Kong's Hang Seng Index rose 0.9% and Japan's Nikkei gained 0.6%. South Korea's Kospi closed up 0.2% after a strong earnings report from SK Hynix (OTC:HXSCF) tipped sentiment favorably, while Australia's ASX 200 closed flat on the day. U.S. stock futures are pointing slightly higher ahead of another busy day of earnings reports. Amazon (NASDAQ:AMZN), Twitter (NYSE:TWTR), Intel (NASDAQ:INTC), Visa (NYSE:V) and Comcast (NASDAQ:CMCSA) are among the notable companies stepping up to the plate.
The Eurozone economy remained close to stagnation at the start of Q4, according to the latest flash PMI data. A further steep decline in manufacturing output was accompanied by one of the weakest service sector expansions since 2014. The flash eurozone manufacturing PMI rose to a two-month high of 46.2, while the flash services PMI rose to 51.8 from 51.6 in September. Flash composite PMI edged up to 50.2 from 50.1 in September to linger perilously close to the 50.0 mark that separates growth from contraction. Future expectations sank to the gloomiest level since 2013 and jobs growth hit the lowest mark since 2014.
Mario Draghi's last meeting as European Central Bank chief is set for later today with his eight-year term due to expire at the end of the month. Draghi's last meeting could be a lively one due to the division among policymakers over renewed asset purchases that threatens the effectiveness of the central bank's policy measures. While economists predict no major changes to the ECB's post-meeting policy statement from the September meeting blast, there could be more details on planned asset purchases and technical issues around the restarting of quantitative easing. What will Draghi's parting shot be? "His sign-off message is likely to be that things would have been much worse had the ECB done less," predicts Societe Generale's Annenkov. Christine Lagarde replaces Draghi as ECB chief on November 1.
Japan and Saudi Arabia struck a deal in principle at a ministerial meeting to renew a joint crude oil storage scheme out of Okinawa. The agreement is seen as providing Saudi Arabia quick and easy access to key customers in East Asia, while Japan gains energy security. Currently, Saudi Aramco (ARMCO) leases 1.30M kiloliters or 8.18M barrels of crude oil storage capacity at Okinawa for commercial purposes in exchange for prioritizing supply to Japan in the event of an emergency. "It is significant to renew the joint crude oil storage project," stated Minister of Economy, Trade and Industry Isshu Sugawara on the deal. "Our country will continue to support Saudi Arabia's stable oil supply through this project henceforward," he added.
Tesla (NASDAQ:TSLA) racked up a double-digit gain after posting an unexpected profit in Q3 and delivering more than 96K cars. Looking ahead, Tesla says it's highly confident it will deliver more than 360K vehicles this year (down from prior guidance). Positive quarterly free cash flow is anticipated going forward, with possible temporary exceptions around the launch and ramp of new products. The Model Y is on track to be released by summer 2020 and limited Tesla Semi trucks are expected to be produced sometime next year. On the post-earnings conference call, Elon Musk said Tesla Insurance will be expanded to other states and possibly other countries. Shares of Tesla are up 17.2% premarket after being up by more than 20% in the after-hours session. Go deeper: Read BULLISH ANALYSIS ON TESLA.
Amazon (AMZN) is scheduled to report Q3 earnings after the closing bell today. Analysts seem to be expecting a mixed report, with revenue surprising to the upside and the e-commerce giant's focus on one-day shipping and a slowing cloud services business setting up a potential profit miss. Stifel thinks the earnings report could be an opportunity for investors. "We would be buyers on any weakness stemming from potentially lower margin as historically the company has emerged from past investment cycles in a stronger competitive position and generated stronger-than-expected operating income dollars," reads the firm's earnings preview. Yesterday, Amazon warmed up for the big report by acquiring Health Navigator for an undisclosed amount. The healthcare startup provides online symptom checking and triage tools for companies wanting to route patients to the appropriate care location.
Nordstrom (NYSE:JWN) is set to open its 320K square-foot Manhattan flagship store today. The store's location on Broadway and 57th Street positions it to be a tourist draw, while Nordstrom's collaborations with Nike (NYSE:NKE), Everlane, Burberry (OTCPK:BURBY), Madewell and others are aimed at raising the brand's profile. "We've been looking at the New York market for years and we saw this opportunity to build a flagship in the fashion authority of New York City," stated Nordstrom CFO Anne Bramman on the Big Apple strategy. Shares of Nordstrom are down 40% over the last 52 weeks. Go deeper: READ THE LATEST ANALYSIS ON NORDSTROM.
Johnson & Johnson takes a profit hit
Johnson & Johnson (NYSE:JNJ) has confirmed its agreement in principle to settle opioid litigation by contributing $4B. The company says the proposed settlement would reduce reported GAAP net earnings for Q3 and the nine months ended September 29 to $1.8B from $4.8B and to $11.1B from $14.2B, respectively. The settlement would have no impact on adjusted earnings results for Q3 and for the nine-month period that ended on September 30.
Zuckerberg stands up for Libra on Capitol Hill
Facebook (NASDAQ:FB) chief Mark Zuckerberg sounded a defiant note amid six hours of questioning on Capitol Hill over his company's plans for its Libra payments system, suggesting he's sticking it out even as Libra faces increasing pushback from lawmakers. He repeated assurances that Libra wouldn't launch anywhere in the world without an OK from U.S. regulators. Meanwhile, representatives took on everything from payments particulars to Facebook's reputational problems and its (light) approach to policing political ads.
Nokia down 18% on slashing guidance, pausing dividends
Nokia (NYSE:NOK) plunged 18% PM on slashing guidance. It now expects FY19 Non-IFRS EPS of €0.21 (±€0.03), operating margin of 8.5% (±1%); FY20 Non-IFRS EPS of €0.25 (±€0.05), operating margin of 9.5%. The company will not distribute third and fourth installments of the dividend for FY18 to increase investments in 5G and strengthen cash position.
PG&E starts second, milder round of blackouts
PG&E (NYSE:PCG) launched a second round of intentional blackouts in California, this time cutting off power to 179,000 customers across 17 counties, amid more warnings of critical wildfire conditions. But this round was milder than an earlier set, which affected 750,000 homes and businesses, and power could be restored as soon as Thursday to some. Meanwhile, blackouts may come in the southern part of the state as well, with Southern California Edison considering shut-offs for 163,000 customers.
What else is happening...
Boeing (NYSE:BA) rides out tough Q3.
Microsoft (NASDAQ:MSFT) sees Intelligent Cloud boost.
Infosys (NYSE:INFY) says SEC probing whistleblower issue.
Ford (NYSE:F) slumps after cutting guidance.
Wednesday's Key Earnings
Microsoft (MSFT) -3% AH on Q3 earnings beat, Azure growth. Tesla (TSLA) +17.2% PM on surprise profit. Ford Motor (F) -2.6% AH after disappointing guidance. PayPal (NASDAQ:PYPL) +7.1% PM on Q3 earnings beat, upside guidance. eBay (NASDAQ:EBAY) -6.3% PM after mixed Q3. Lam Research (NASDAQ:LRCX) +6% PM on upside guidance. Las Vegas Sands (NYSE:LVS) flat AH as Macau revenues drop. Xilinx (NASDAQ:XLNX) -1% PM on 2H headwinds warning. ServiceNow (NYSE:NOW) +6.7% PM after Q3 beat. Washington Prime Group (NYSE:WPG) +4.5% AH on Q3 beat, reaffirmed FY guidance. Align Technology (NASDAQ:ALGN) +6.8% PM on Q3 beat, strong Q4 guidance. Range Resources (NYSE:RRC) +1.8% AH despite Q3 loss, revenue drop. Edwards Lifesciences (NYSE:EW) +5.9% AH on guidance raise, strong Q3. BioMarin Pharmaceutical (NASDAQ:BMRN) +3.5% AH on Q3 beat, FY guidance. F5 Networks (NASDAQ:FFIV) +6.3% PM on strong software services revenue, partnership with AWS. Canadian Pacific Railway (NYSE:CP) flat despite on Q3 beat, low operating ratio. O'Reilly Automotive (NASDAQ:ORLY) +3.4% AH on strong Q3 profit. Spirit Airlines (NYSE:SAVE) +5.8% AH after posting Q3 beat, big Airbus order.
In Asia, Japan +0.55%. Hong Kong +0.87%. China -0.02%. India -0.21%. In Europe, at midday, London +0.74%. Paris +0.50%. Frankfurt +0.46%. Futures at 5:40, Dow +0.07%. S&P +0.07%. Nasdaq +0.35%. Crude -0.61% to $55.63. Gold -0.26% to $1,491.80. Ten-year Treasury Yield +0.4 bps to 1.763%.
Today's Economic Calendar
8:30 Durable Goods 8:30 Initial Jobless Claims 9:45 PMI Composite Flash 10:00 New Home Sales 10:30 EIA Natural Gas Inventory 11:00 Kansas City Fed Mfg Survey 1:00 PM Results of $32B, 7-Year Note Auction 4:30 PM Money Supply 4:30 PM Fed Balance Sheet 7:00 PM Fed's Williams Speech
Roger “Raj” Searing firstname.lastname@example.org
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