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Ford, GM pitch new strategies; Wall Street snubs them

The GM logo in Warren MichiganBy Bernie Woodall and Joseph White DETROIT (Reuters) - Ford Motor Co and General Motors Co have worked all year to convince investors that they are no longer prisoners of the U.S. auto market cycle and have solid plans to fend off challenges from Silicon Valley interlopers. This week, Wall Street looked at the Detroit companies' stronger-than-expected quarterly results and turned thumbs down. GM, the largest U.S. automaker, reported record third-quarter net income on Tuesday, but its shares have fallen nearly 5 percent since then.

Twitter's video-sharing mobile app Vine to close

People holding mobile phones are silhouetted against a backdrop projected with the Twitter logoBy Amy Tennery NEW YORK (Reuters) - Twitter Inc announced Thursday that it would discontinue the video-sharing mobile app Vine, as it moves to cut 9 percent of its workforce worldwide to keep costs down after beating Wall Street quarterly earnings expectations. The decision comes on the heels of a failed attempt to sell Twitter as it fights against stagnant user growth and mounting competition from other social media platforms. In a post published jointly by Twitter and Vine to the blog platform Medium, the social media services said that the Vine website would stay live even after the mobile app is discontinued, giving users the chance to download and save any videos.

British data prompts global bond selloff; U.S. stocks flat

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in FrankfurtBy Hilary Russ NEW YORK (Reuters) - Strong growth data out of Britain prompted the worst daily selloff in gilts for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut. In the U.S., stock market losses led by Comcast and consumer discretionary stocks were offset by gains in the healthcare sector, while European stocks slid and the U.S. dollar hit highs against the Swedish crown and Japanese yen. Official data showed that Britain's economy slowed only slightly in the three months after it voted to exit the European Union.

S&P, Dow rise on health stocks; Nasdaq weighed by Comcast

A woman passes by the New York Stock Exchange during the morning commute in New York CityThe S&P 500 and the Dow were back in positive territory as healthcare stocks outdid a drag from consumer discretionary stocks. The S&P 500 healthcare index rose 1.15 percent, on track for its best day in six weeks, riding on strong results and forecast from Bristol-Myers and Celgene. The two drugmakers were the top boosts on the S&P 500.

Twitter cuts jobs with eye on 2017 profit; Vine discontinued

A 3D-printed logo for Twitter is seen in this picture illustrationTwitter Inc said Thursday it would cut 9 percent of its global workforce to keep costs down even as quarterly results eclipsed Wall Street's beaten-down expectations, lifting shares that had fallen after a failed effort to sell the company. More than 300 Twitter employees will be affected by the layoffs as part of a broader restructuring, a figure similar to an earlier round of reductions announced a year ago. Separately, the company announced it would discontinue Vine, a video app launched in 2013 that played brief clips on a repeat loop that struggled to compete with Facebook's Instagram.

China courier ZTO delivers year's biggest U.S. IPO

A man unloads parcels from a vehicle of the ZTO Express delivery in BeijingChinese package delivery company ZTO Express said it raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China's booming online-shopping industry. The stock market debut, the biggest by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd in 2014, gave the Shanghai-based company a market value of more than $12 billion. ZTO's U.S. listing is a head start over rivals in the world's largest express delivery market because it gives the company faster access to cash to expand.

Aetna tops Street 3Q expectations, narrows 2016 forecast

Aetna tops Street 3Q expectations, narrows 2016 forecastAetna's third-quarter earnings rose nearly 8 percent to top Wall Street forecasts, as growing government business and cost cutting countered higher costs from the health insurer's Affordable Care Act coverage. ...

Volkswagen raises earnings outlook as it returns to profit

FILE - In this Oct. 5, 2015, file photo, the VW sign of Germany's Volkswagen car company is displayed at the building of a company's retailer in Berlin. Volkswagen is scheduled to present its third quarter figures Thursday, Oct. 27, 2016. (AP Photo/Markus Schreiber, File)FRANKFURT, Germany (AP) ? Volkswagen raised its sales and earnings outlook Thursday after bouncing back to a profit of 2.34 billion euros ($2.55 billion) in the third quarter from a large loss a year earlier, when it took a big charge from its car emissions scandal.

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