Friday, February 15, 2019
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WHAT TO WATCH
PepsiCo (PEP) will face its moment of truth when it reports Q4 earnings before the opening bell. The report comes on the back of disappointing guidance from its biggest rival, Coca-Cola (KO) on Thursday.
Analysts polled by Bloomberg are expecting Q4 earnings of $1.49 per share on $19.50 billion in revenue for PepsiCo.
TOP NEWS
Congress sends bill to avert shutdown amid Trump’s emergency plan: Congress sent President Donald Trump legislation he said he’ll sign to avoid another government shutdown, as a new dispute looms over his decision to declare a national emergency to get a total of $8 billion in federal money for his border wall, according to an official. [Bloomberg]
Amazon drops plans for New York headquarters: Amazon (AMZN) said in a statement Thursday that it is abandoning plans to build a headquarters in Long Island City, New York. Amazon shares were trading lower most of the day, but recovered some of those losses after the news came out. [Yahoo Finance]
Read more
Amazon’s break-up with New York sets other cities up for gains [Yahoo Finance]
Amazon bailing won't reverse Long Island City's soaring rents [Yahoo Finance]
Amazon and the brewing war on corporate America [Yahoo Finance]
Amazon has a big problem now that it has scrapped plans for a New York City headquarters [Yahoo Finance]
Buffett dumps Oracle after holding it for less than a year.:Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) dumped all of its shares of Oracle (ORCL) after a short sting in the investment. [Yahoo Finance]
Also: Buffett doubles down on big banks, trims Apple stake [Bloomberg]
Mnuchin calls U.S.-China talks ‘productive’: Treasury Secretary Steven Mnuchin sounded a positive note on Friday as U.S.-China trade talks drew to a close in Beijing, as both sides tried to reach a deal that would avert a tariff increase on Chinese goods by March 1. [Bloomberg]
Nvidia beats expectations, stock jumps 5%: Nvidia (NVDA) announced its Q4 2019 earnings on Thursday, exceeding analysts’ expectations. The chipmaker reported revenue of $2.21 billion versus analysts’ expectations of $2.2 billion. Earnings per share for the firm came in at $0.80 versus expectations of $0.78. The stock is up more than 5% in after hours trading. [Yahoo Finance]
MORE FROM YAHOO FINANCE
Charlie Munger questions if stock buybacks at present levels are smart
Washington is bending to the stock market
JPMorgan blockchain chief: Why we launched our own cryptocurrency
2018 was the worst year of media layoffs since 2009
Meet the first self-made African-American woman millionaire
Morning Brief will be observing Presidents’ Day on Monday, February 18, 2019. It will resume on Tuesday, February 19, 2019.
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