A 7.8 magnitude earthquake woke up the Solomon Islands that spawned a tsunami watch for the Solomon Islands, Vanuatu, Papua New Guinea, Nauru, all Hawaiian islands and New Zealand. Close to 7,000 voices in the Sentifi financial crowd are currently monitoring the event, and so far they’ve said a tsunami is very unlikely. Stick with Sentifi for all latest updates about the earthquake.
Tsunami: Is unlikely to spawn
The U.S. National Weather Service has canceled the tsunami watch issued for all Hawaiian islands after having determined that all available data pointed to the unlikeliness of a tsunami. Following the initial quake, the Solomon Islands got hit with two more quakes, one with a magnitude of 5.5 while the other being 5.1.
The decision disappointed the markets greatly, evident in the largest one-day drop of the euro since Brexit. The currency is now falling toward $1.06 level. The ECB extended the Asset Purchase Target for nine months to December 2017, and scaled back purchases to
Lululemon Athletica: Shares jump 16.6 percent after strong Q3 results
The Canadian athletic apparel retailer saw its quarterly revenue jump 13 percent, with diluted earnings per share arriving at $0.42 to $0.44. Riding on the wave of success, the company said its board approved a new $100 million stock repurchase program. However, due to recent mixed sales results, the company has lowered its full fiscal year revenue, from the range of $2.325 billion to $2.35 billion down to the range of $2.32 billion to $2.34 billion.
Sports Direct Intl.: Starts new controversies
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The U.K. retailer hasn’t had a good year. Its shares fell 12 percent following a 57 percent decline in first-half earnings and a cut in recently reduced annual forecast. Not only that, Mike Ashley, the owner of the company, decided to spend $51 million on a corporate jet. The company also invited scrutiny from governance watchdogs after announcing an agreement with a separate company controlled by Ashley himself called Double Take Ltd. Ashley’s daughter Matilda is a director at Double Take, and it will give Sports Direct exclusive licensing rights to the Sport FX cosmetics brand.
NK Rosneft’ PAO: U.S. authorities examine deal with Glencore
Rosneft, undoubtedly the crowd jewel of the Russian oil industry, recently sold 19.5 percent of its stake to Swiss commodities giant Glencore and the Qatari sovereign wealth fund. The White House announced that U.S. authorities will look into that $11 billion deal to determine how U.S. sanctions — which was imposed on Rosneft following Russia’s annexation of Ukraine’s Crimea Peninsula — may impact the deal. Meanwhile, many analysts praised the deal, calling it a smart way for Glencore to boost its exposure to oil and potential raise revenues at its trading arm, all the while strengthening its connections with Russia.
Tailored Brands Inc.: Shares jump 45 percent thanks to subsidiary’s good performance
Suit retailer Jos. A. Bank is showing signs of a rebound after experience a sales plunge, and that’s enough to set off a stock rally for its parent company. The chain expects same-store sales to grow by a percentage in the mid- to high-single digits during Q4, which helps boost the low end of Tailored Brands’ annual earnings forecast, from $1.55 a share to the range of $1.70 to $1.85 a share.
Aixtron: Grand Chip scraps plan to acquire Aixtron U.S.
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Chinese government-backed Grand Chip has backed out of its takeover bid for the U.S. unit of German semiconductor equipment maker Aixtron after U.S. President Barack Obama blocked the deal on security concerns. There were fears that the merger would put sensitive technology with potential military applications in Chinese hands.
Sears Holding Corp.: Shares trade down 3 percent following weak Q3 numbers
The company’s revenue fell 12.5 percent annually, representing its biggest year-over-year decline in four quarters. It also posted an adjusted net loss of $333 million, which is much wider than $305 million in net loss a year ago. The company blamed sluggish demand for home appliances, consumer electronics and apparel. Analyst don’t have much hope for the company, and neither does Wall Street as it expects Sears’ sales to fall 12 percent this year and 8 percent next year.
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