Morning Brief: U.S. prosecutors probing Facebook's data deals
Thursday, March 14, 2019
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WHAT TO WATCH
Two legacy tech companies will be reporting financial results after the market close, Oracle (ORCL) and Adobe (ADBE).
Cloud giant Oracle is expected to report earnings of 84 cents per share on $9.59 billion in revenue. While, Adobe is anticipated to report earnings of $1.62 per share on $2.55 billion in revenue.
Other notable earnings reports scheduled today include Dollar General (DG) before market open, and Broadcom (AVGO), DocuSign (DOCU) and Ulta (ULTA) after market close.
TOP NEWS
U.S. prosecutors probing Facebook's data deals: NYT: U.S. federal prosecutors are conducting a criminal investigation into data deals Facebook Inc. (FB) struck with some of the world's largest technology companies, the New York Times reported on Wednesday. [Reuters]
Also: Facebook weighs refunding advertisers as outage persists [Bloomberg]
U.S. joins other nations in grounding 737 Max jets: The United States on Wednesday joined Europe, China and other countries in grounding Boeing Co.'s (BA) 737 Max jets, because of safety concerns after an Ethiopian Airlines plane crash that killed 157 people, the second disaster involving the 737 in less than five months. [Reuters]
Pound under pressure ahead of Brexit delay vote: The pound against the US dollar (GBPUSD=X) is under pressure ahead of the third vote in parliament related to Brexit. Sterling against the dollar erased some of the solid gains it made in the immediate aftermath of parliament voting to reject leaving the European Union without a withdrawal agreement last night, falling to below the $1.32 level. [Yahoo Finance UK]
China industrial output growth falls to 17-year low: Growth in China's industrial output fell to a 17-year low in the first two months of the year and the jobless rate rose, pointing to further weakness in the world's second-biggest economy that is likely to trigger more support measures from Beijing. [Reuters]
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