Trump flies to Mexico; JetBlue flies to Cuba
Wall Street continues to shuffle along. All three major averages started the day in the minus column, as investors weigh the latest report on private-sector employment ahead of Friday’s closely watched government jobs data.
ADP and Moody’s Analytics reported that private employers added 177,000 jobs in August.
Trump heads to Mexico
The Republican presidential candidate plans to speak to Mexican President Enrique Peña Nieto just hours before giving a major address on immigration in Phoenix, Arizona. What will Trump accomplish by talking to a politician who said there’s “no way” Mexico will pay for a wall on the border?
Flights from Florida to Cuba
JetBlue (JBLU) today begins flights from Fort Lauderdale, Florida, to Santa Clara, Cuba—the first regularly scheduled commercial flights from the US to Cuba in half a century. It’s the latest development in the normalization of relations between the two countries initiated by President Barack Obama in 2014. What’s next?
Google turns up heat on Uber
Google (GOOGL) is taking aim at Uber by reportedly expanding a carpool program powered by Waze, the navigation app it owns. Google will offer the service to Waze users in San Francisco, where Uber is based. Which company has the ride-sharing edge?
Stocks to watch
H&R Block (HRB) shares sank this morning after the tax service provider reported a wider than expected loss of $0.55 a share for its fiscal first quarter. Revenue also missed estimates. Sales fell 9% from a year ago, mainly due to the sale of its bank unit and as fewer customers signed up for its services.
Palo Alto Networks (PANW) shares fell in early trading. The cybersecurity firm reported earnings that came in line with forecasts at $0.50 a share, while revenue topped analysts’ estimates as sales surged 41% to $401 million in its fiscal fourth quarter. However, expenses surged and the company provided a weaker-than-expected outlook for its current quarter. The company is also buying back $500 million worth of stock.
Deutsche Bank (DB) shares are in the spotlight. The German bank’s CEO John Cryan denied speculation that it’s interested in buying smaller rival Commerzbank. The denial came after a German magazine reported that Deutsche Bank was in early merger talks with Commerzbank.
Apple (AAPL) remains in focus. Investors will be closely monitoring any developments related to the European Commission’s ruling Tuesday that Apple owes Ireland $14.5 billion in taxes.
