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Wall Street drops on bleak GE outlook; Microsoft blunts losses

A trader works on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New YorkWall Street fell sharply Friday morning as GE's comments on the economy and its disappointing forecast weighed on industrials stocks, but a rally in Microsoft and McDonald's helped limit losses. "Although earnings have been coming in mixed, GE's comments of a sluggish economy is causing investors to take a step back," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey. The S&P 500 was down 9.61 points, or 0.45 percent, at 2,131.73 and the Nasdaq Composite was down 11.54 points, or 0.22 percent, at 5,230.30.

McDonald's sales rise 1.3 percent at US stores

This Tuesday, June 28, 2016, photo shows a McDonald's sign atop one the chain's restaurants in Miami. McDonald's reports financial results Friday, Oct. 21, 2016. (AP Photo/Alan Diaz)OAK BROOK, Ill. (AP) ? McDonald's says sales rose 1.3 percent at established U.S. locations in the third quarter, matching what Wall Street analysts expected.

Ex-Goldman recruit drives HSBC's investment banking ambitions

FILE PHOTO - The headquarters of HSBC in London's Canary Wharf financial districtUsing a rare hire from a Wall Street firm, HSBC is pushing hard to become the top European-based investment bank while its regional rivals struggle with regulatory fines and falling revenues. Former Goldman Sachs banker Matthew Westerman, who took over as head of the Global Banking division in May, has made sweeping changes in the drive to steal market share in a business area where HSBC lags most of its major peers. The London-based lender wants to capitalize on the waning fortunes of its German and Swiss competitors Deutsche Bank , Credit Suisse and UBS .

E-Class sedan, SUVs boost earnings at Germany's Daimler

FRANKFURT, Germany (AP) ? German automaker Daimler AG said Friday that stronger sales of its technology-loaded Mercedes-Benz E-Class sedan and SUVs helped third-quarter earnings swell by 13 percent.

PRESS DIGEST- Wall Street Journal - Oct 21

Oct 21 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy. - A former National Security Agency contractor amassed atleast 500 million pages of government records, includingtop-secret information about military operations, by stealingdocuments bit by bit over two decades, the Justice Departmentalleged in a court filing submitted Thursday. http://on.wsj. ...

Microsoft shares hit all-time high as earnings beat expectations

Microsoft shares hit all-time high as earnings beat expectationsMicrosoft shares rose to an all-time high in after-hours trading on 20 October, after the software giant posted better-than-expected first quarter results. The rise in profits was helped by an 8% jump in cloud revenue to $6.4bn, with the firm reporting that the use of its Azure cloud computing platform had more than doubled since last year. The news sent Microsoft shares 6% higher to $60.73 in New York, overtaking its previous peak of $59.97 in 1999 during the dot-com boom.

DIARY-Hong Kong and China corporate earnings week ahead

Oct 21 (Reuters) - Diary of Hong Kong (.HSI) corporate earnings for the week ahead HONG KONG EARNINGS Start Date Start Time RIC Company Name Event Name (in GMT) 26-Oct-2016 NTS 601988.SS Bank of China Ltd Q3 2016 Bank of China Ltd Earnings Release 26-Oct-2016 NTS 2388.HK BOC Hong Kong Holdings Ltd Q3 2016 BOC Hong Kong Holdings Ltd Earnings Release 27-Oct-2016 AMC 601628.SS China Life Insurance Co Ltd Q3 2016 China Life Insurance Co Ltd Earnings Release 27-Oct-2016 NTS 600028.SS China Petroleum & Chemical Corp Q3 2016 China Petroleum & Chemical Corp Earnings Release 27-Oct-2016 NTS 601939. ...

Wall Street dips as telecoms slump; AmEx surges

A trader works on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New YorkNEW YORK (Reuters) - U.S. stocks ended a choppy session on Thursday with a slight decline as investors digested the latest round of earnings, with a sharp drop in telecoms offset by gains in healthcare.

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