5,300 Wells Fargo employees fired over 2 million phony accounts http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/index.html Valeant levels of cheating-to-get-the-bonus
US STOCKS-Futures dip after North Korea nuclear test Reuters 8 minutes ago NEW YORK, Sept 9 (Reuters) - U.S. stock index futures were modestly lower on Friday amid investor caution following a nuclear test by North Korea and ahead of comments by two U.S.Federal Reserve speakers. * North Korea conducted its fifth and biggest nuclear test on Friday and said it had mastered the ability to mount a warhead on a ballistic missile, drawing condemnation from the United States as well as China, Pyongyang's main ally. * Investors will look for clues on the timing of an interest rate hike when Federal Reserve Bank of Boston President Eric Rosengren, a voting member of the Federal Open Market Committee, speaks at 8:15 a.m. EDT (1215 GMT). At 9:30 EDT, Federal Reserve Bank of Dallas President Robert Kaplan, a non-voting member, is also scheduled to speak. * The Fed will hold a two-day policy meeting on Sept. 20-21. Expectations for a rate hike had climbed in recent weeks after comments from several Fed officials, only to be tamped down again in recent days after several disappointing economic reports. The current expectations for a September rate hike stand at 15 percent, according to CME's FedWatch tool.
fed speaker jawboning, markets down even lower now, this will be an interesting friday. that September volatility is back! Increasingly risky to delay US rate hike, Fed's Rosengren says
Good morning Stockaholics! Happy TGIF! Frontrunning: September 9 German jitters weigh on stocks, ECB doubts lift yields (Reuters) Chinese Billionaire Linked to Giant Aluminum Stockpile in Mexican Desert (WSJ) Monte dei Paschi CEO to be replaced as cash call looms (Reuters) German exports plummet in July, hit trade surplus (MW) North Korea conducts fifth and largest nuclear test (Reuters) Hedge Fund and Cybersecurity Firm Team Up to Short-Sell Device Maker (NYT) Lavrov, Kerry express concern after latest North Korea nuclear test (Reuters) There's a Simple Reason Why UBS is Hiring So Many Quants (BBG) Iranian oil output stagnates for third month amid OPEC bargaining (Reuters) It’s Tough Being Over 40 in Silicon Valley (BBG) Elon Musk’s SpaceX Explosion Most Vexing Failure in 14 Years (BBG) Barroso's Goldman job hits post-Brexit EU as it battles for trust (Reuters) From steaks to furniture, Hanjin Shipping collapse to raise freight costs (Reuters) Ford Stock Stubbornly Sinks as Bosses Try to Rally Investors (BBG) Duterte says he told Obama he never insulted him, thinks U.N.'s Ban a fool (Reuters) It’s Millionaire Versus Billionaire in Beverly Hills Tower Spat (BBG) David Geffen’s New York City Apartment Seeks $27.5 Million (WSJ) STOCK FUTURES NOW: YESTERDAY'S MARKET HEAT MAP: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): UVXY KR SPY LXRX FNSR JNUG WFC NUGT GWPH WATT AAPL CHK ACHN JDST RH DGAZ LNTH HIT TLT NVAX OCLR TTM XIV APH TODAY'S EARNINGS CALENDAR: THIS MORNING'S PRE-MARKET NEWS MOVERS: RG, JPM, CMG, TWTR, WMB, HPQ, RCL & more... source: cnbc.com Restoration Hardware — The retailer of luxury home goods reported adjusted quarterly profit of 44 cents per share, 15 cents a share above estimates. Revenue was also above forecasts, although the company does point out that much of the beat was due to being able to ship products earlier than anticipated. That moved a portion of revenue and earnings forward into the most recent quarter. JPMorgan Chase — Macquarie downgraded the bank's shares to "neutral" from "outperform," citing valuation, a challenging interest rate environment, and higher capital buffer requirements than its peers. Mattress Firm — The mattress retailer reported adjusted quarterly earnings of 57 cents per share, 8 cents a share below forecasts. Revenue also fell shy of estimates. Comparable-store sales fell 1.1 percent during the quarter, but the company said it is making good progress in integrating its purchase of the Sleepy's chain. Chipotle Mexican Grill — Chipotle settled cases with more than 100 customers who became ill after eating at the restaurant chain, according to lawyers for those customers. Terms of the settlements were confidential. Twitter — Twitter remains in the news, amid speculation about its future. The New York Post reports that, contrary to rumor, investor Carl Icahn is not building a stake in the company. CNBC had reported earlier this week that no bids have come in for Twitter. Williams Cos. — Williams shares are under pressure, following news that rival pipeline company Enterprise Products Partners is no longer interested in a merger with Williams. Enterprise said it did approach Williams about a potential deal, but found there was "no actionable path forward." Korn/Ferry International — Korn/Ferry reported adjusted profit of 52 cents per share for its first quarter, 1 cent a share below estimates. The executive recruiter's revenue also fell below Street forecasts. Its current-quarter forecast is above consensus estimates, however, as it benefits from its recent acquisition of human resources consulting firm Hay Group. Deutsche Bank — Deutsche Bank is expected to settle U.S. mortgage-backed securities cases for more than $2.4 billion, according to a German magazine, which said the Justice Department will send a formal notice to the bank next week. Finisar — Finisar reported adjusted quarterly profit of 38 cents per share, 8 cents a share above estimates. Revenue also beat forecasts. The fiber optics company also gave a stronger-than-expected current-quarter forecast, as cloud services companies increasingly upgrade their networking hardware. Advanced Micro Devices — AMD priced its recently announced secondary stock share offering at $6 per share, raising $600 million, compared with the originally expected $450 million. The chipmaker's $700 million offering of convertible notes also priced, with the initial conversion price at $8 per share. HP Inc. — Samsung Electronics is considering selling its printer business to the former Hewlett-Packard, according to the Seoul Economic Dailynewspaper. Royal Caribbean, Norwegian Cruise Line — Bernstein began coverage on the two cruise line operators with an "outperform" rating, saying it is bullish on the cruise industry in general because it is concentrated on relatively few players and has strong demand characteristics, among other factors. Zumiez — The action sports apparel seller reported a quarterly loss of 3 cents per share, 5 cents a share smaller than anticipated. Revenue was in line with forecasts. Zumiez does say its overall business continues to underperform its expectations, and it is focusing on managing its expense structure and executing its long-term plan. Good trading day to everyone in here on this Friday!
^^ this ...paging @MaximusAnalysis i feel like we're flying blind w/o your market levels each morning! haha
i ought to conduct a quick Stockaholics opinion poll about whether or not TODAY we finally break that string of 1%-less moves in the market lol ... we're currently at i believe 51 consecutive days w/o said 1% move in either diection
i almost had to do a double take on the indices this morning lol ... -20 handles on the s&p isn't really that large of a move (about -1%) but in this chopfest of a market that we've been stuck for about nearly 2 months now ... this feels big lol
can't remember the last time we've seen kind of price action on the indices ... still have not registered a green 15m. bar since cash open
