IN THE NEWS
Benzinga
After meeting with Steven Madden, Ltd. (NASDAQ: SHOO) management, Canaccord analyst Camilo Lyon believes the shoe company is
creating a private-label brand for Amazon.com, Inc. (NASDAQ: AMZN), a deal that will compound revenue generated through wholesale and Amazon
Marketplace distribution:
Link
The latest round of 13-F filings from institutional investors is out, revealing to the world the stocks that some of the richest
and most successful investors have been buying and selling. Here’s a rundown of how the smart money was playing some of the most
popular stocks last quarter:
Link
Wall Street Journal
Apple Inc. (NASDAQ: AAPL) has set a
budget of roughly $1 billion to procure and produce original content over the next year, according to people familiar with the
matter—a sign of how serious the iPhone maker is about making a splash in Hollywood:
Link
The acrimony among Uber Technologies Inc.’s investors spilled further into view with a new letter from one shareholder alleging
underhand tactics by board member Benchmark Capital:
Link
Reuters
The United States and Canada have failed to settle a festering trade dispute on softwood lumber ahead of talks to modernize the
North American Free Trade Agreement (NAFTA), but will keep the lumber negotiations on a separate, parallel track, officials from
both countries said:
Link
Fiat Chrysler (NYSE: FCAU) will join an
alliance led by BMW to develop self-driving cars, intensifying a race by carmakers and technology companies to develop "robotaxis"
which can be called up via smartphone and paid for by the minute:
Link
Bloomberg
Donald Trump is facing growing condemnation inside his own party for his explosive remarks equating neo-Nazis to
counter-protesters, as the president once again created an unwelcome distraction from his legislative agenda that caught his own
aides off-guard:
Link
Federal Reserve watchers may get a better feel Wednesday for how many policy makers remain resolved to raise interest rates
again this year, and how many are wavering amid a five-month stretch of soft inflation reports:
Link
ECONOMIC DATA
- US MBA mortgage applications WoW +0.1% 11 Aug vs 3.0% Previous
- USA Building Permits (MoM) for Jul -4.10% vs -2.00% Est; Building Permits for Jul 1.22M vs 1.25M Est
- USA Housing Starts (MoM) for Jul -4.80% vs 0.50% Est; Prior Revised from 8.30% to 7.40%; Housing Starts for Jul 1.16M vs
1.22M Est
- The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30
a.m. ET.
- The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.
ANALYST RATINGS
- Morgan Stanley upgraded Paychex (NASDAQ:
PAYX) from Underweight to Equal-Weight
- Bank of America upgraded Spirit Realty (NYSE: SRC) from Underperform to Buy
- Jefferies downgraded Chicago Bridge & Iron (NYSE: CBI) from Buy to Hold
- Susquehanna downgraded Dick's Sporting Goods (NYSE: DKS) from Positive to Neutral
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