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Kohl’s Stock on the Rise as Sales Increase

On Thursday, Kohl’s Corp posted a profit that fell by 15% during the third quarter amid worries that the retailer’s plan for a turnaround was faltering. Nevertheless, the retailer had earnings that were higher than Wall Street expectations and its stock rallied during premarket trading by almost 10%. Kevin Mansell the CEO attributed the slight increase in quarterly sales to a strong season for back to school and late October sales periods that were offset slightly by weak September figures. Most of the key initiatives for the company were a... 
 

Apple Wallet To Be Enhanced With Peer-to-Peer Network (NASDAQ: AAPL)

Apple is working on a new peer-to-peer payments service that which would let people use their smartphones to send money to one another. The service could be ready as soon as next year. The new service would be in direct competition with PayPal’s peer-to-peer payments app Venmo and Square’s Square Cash. Square Cash and Venmo are free to users that link their checking account to the system. Consumers using a credit card are only charged a small fee. Venmo processed nearly $2.4 billion in money transfers in 2014. Square Cash has processed more... 
 

Russia Calls Doping Allegations Groundless

Russia has sharply rejected the allegations that it has a state sponsored doping program for its athletes dismissing those claims by the overseers of sport as groundless and not supported by and evidence that is clear cut. This response points to what will be deepening battles between officials in global sports and the Kremlin after a very powerful agency of anti-doping charged that Russia relied on its drug program to give its athletes an upper hand in all international competitions, which would include the Olympics. The accusations, which are... 
 

Starbucks Facing Backlash Over Red Holiday Cups (NASDAQ:SBUX)

A number of people are upset with Starbucks right now and are vocally voicing their disapproval on social media. At issue are the plain red holiday cups that Starbucks is using this holiday season. Previously, the holiday cups at Starbucks have featured snowflakes, ornaments and reindeer. This year, the plain appearance of the cups have some consumers fuming. Whether Starbucks intended to spark a conversation with the cups or not, both supporters and opponents of the holiday cups have been quick to take their opinions to social media. Many of the... 
 

Alibaba Acquires Youku for $4.8 Billion

Alibaba Group Holding agreed to acquire Youku Tudou the video service in a deal that is said to be $4.8 billion, as Jack Ma the billionaire is seeking to stream additional content to Internet users in China through control of the site that is compared to YouTube. Net of the cash Youku has, the price is approximately $3.7 billion, said one person who is familiar with this transaction and who asked not to have his name used. Alibaba, which is the largest online shopping business in China, raised its offer for Youku to cash in the amount of $27.60... 
 

Toyota Cuts Sales Forecast for the Full Year

Toyota Motor Corp has cut its revenue forecast for the full year on Thursday as the company based in Japan expects weaker sales of vehicles in emerging countries in Asia, where the demand for their cars has been rocked by a slowdown in growth. The slowing sales could knock Toyota from the No. 1 spot as the biggest selling automaker in the world, a title it held for the past couple of weeks after it unseated Volkswagen AG in a close, ongoing race. Hit by a sales slump in Thailand and Indonesia during the quarter from July through September, Toyota... 
 

Sprint Suffers Deeper Loss Than Was Expected

Sprint Corp posted a bigger than had been expected loss on Tuesday and a drop in its revenue for its fiscal first quarter, while it said it is planning to cut costs by $2 billion over the next fiscal year. Shares dropped 4.5% in trading before the market opened even while the company logged its first increase in number of phone customers in over two years. Sprint said it was also expecting its earnings prior to taxes, interest, amortization and depreciation for the 2015 year to be nearer its lower end of is estimated range of between $7.2 billion... 
 

Peet’s Coffee Buying Majority Share of Intelligentsia

Peet’s Coffee & Tea has announced that it will acquire a majority share of Intelligentsia Coffee, which is based in Chicago. It is the second deal for Peet’s with the last month. Once only a single store, Peet’s, based in Berkeley, California is now acquiring boutique coffee roasters that are smaller. Earlier in October, it acquired Stumptown Coffee Roasters based in Oregon. Intelligentsia will operate independently with new opportunities to growth nationally, particularly in grocery stores that are high-end, Peet’s Dave Burwick the... 
 

GoPro Stock Plummets Thursday

GoPro is amidst its biggest plunge to date. The maker of wearable cameras nosedived by over 16% Thursday to its lowest price since its initial public offering. The stock is not just on track to have its worst overall day ever, but is coming very close to its price of the IPO of $24. The amazing story of GoPro is in the process of crashing to earth, as the market for extreme sports lovers who have money for the devices must not be big enough. The sales of GoPro that were defying gravity are coming back too fast to earth. Sales exploded by 72% during... 
 

Goldman Sachs Assessed $50M Penalty (NYSE: GS)

Goldman Sachs has agreed to pay a $50 million penalty and accepted a three-year ban on access to certain sensitive regulatory information for failure to supervise an employee who was a former Federal Reserve Bank of New York employee. The action against Goldman was announced by New York State’s financial regulator. Goldman admitted the failure. That employee is now facing jail time for their actions. The employee, Rohit Bansal, worked for Goldman for less than three months. After being hired by Goldman “in large part for the regulatory experience... 
 

Ford Motor Posts Solid Quarterly Earnings

Ford Motor Co posted net income of $1.9 billion during the just ended third quarter equal to 48 cents per share, which is over double the $835 million that it reported in the same period one year ago, as strong results in its core market in the U.S. offset weaknesses across emerging markets. North American business for Ford, which benefited from higher prices per transaction and demand for trucks that are more profitable, reached a recorded operating profit of just over $2.7 billion for the quarter, up steeply from its $1.4 billion during the same... 
 

Panel for FDA Votes in Favor of Gout Drug from AstraZeneca

A panel of medical advisers that is independent of the U.S. Food and Drug Administration voted on Friday 10 to 4 in favor of approval for a gout drug from AstraZeneca. All of the 10 who supported the drug, known as lesinurad, qualified the vote by urging the U.S. regulatory agency to ask the pharmaceutical company for studies following the launch of the drug to gauge safety and long term effectiveness. Gout is a type of arthritis that is caused by an excess of uric acid, which forms crystals in different joints as well as some tissues, causing extremely... 
 

Dunkin’ Brands Posts Results That Top Estimates

Dunkin’ Brands Group posted results that were better than had been expected for its most recent quarter, despite lackluster traffic and sales at its U.S. locations of Dunkin’ Donuts. For the most recent quarter, sales at same-stores grew 1.1% at locations in the U.S., below the reported 2.9% during the second quarter and growth of 2% seen during the same period one year. The company cited a decline of 0.7% in traffic at the stores and said K-Cup in restaurant and its packaged coffee categories had a negative impact. The parent company for both... 
 

Coca-Cola Misses Revenue Estimates In Third Quarter (NYSE: KO)

Despite higher volume sales,The Coca-Cola Company reported that revenue was lower than predicted by Wall Street for the third quarter. Revenue fell to $11.4 billion, a 4.6 percent decline from the same quarter a year ago. Analysts had expected revenue of $11.58 billion for the quarter. Earnings on a reported basis declined 31 percent, dropping to $1.4 billion, or 33 cents a share. In the same quarter last year, earnings were $2.1 billion, or 48 cents a share. After excluding certain one time expenses, Coca-Cola earned 51 cents a share. That was... 
 

Housing Starts Increase in U.S.

Construction of new homes in the U.S. was up in September, which is a sign that residential real estate will help bolster the largest economy in the world. Housing starts were up 6.5% to an annualized rate of 1.21 million, more than what had been forecasted and the second highest in eight years, showed figures from the U.S. Department of Commerce on Tuesday. However, a fall in the number of building permits means the rebound could be slow in materializing. American consumers, driven by the improving jobs market, are maintaining the U.S. as they... 
 

Consumer Sentiment Bounces Back in U.S.

The consumer sentiment in the U.S. was able to bounce back strongly during the early part of October, suggesting the economic recovery had remained in place despite some headwinds due to weak demand globally and a strong U.S. dollar that have been weighing on the country’s industrial sector, in particular manufacturing. The uptick in sentiment was reported Friday and underscored the robust demand domestically and offered new hope that consumer spending would stay solid enough to support growth in the economy, which slowed by a significant amount... 
 

UnitedHealth Beats Estimates on Profit As Costs Stabilize

UnitedHealth Group, the largest health insurer in the U.S. posted profit that was better than had been expected during the third quarter. The results were helped by medical costs that stabilized in its different health plans and more revenue from its pharmacy management business Optum. The company announced that trends in medical costs were as had been expected, an indication that the use of the medical services by patients had not been increasing in an unexpected manner. The percentage of premiums paid for the services dropped by 80 basis points... 
 

Valeant Pharmaceuticals Served With Subpoenas (NYSE:VRX)

Valeant Pharmaceuticals International has been served with two federal subpoenas issued by the United States attorney’s offices in Manhattan and Massachusetts as part of an investigation into the company’s pricing practices. The information requested concerned the company’s pricing decisions, distribution details, and patient support practices. Patient support programs help patients pay for high priced drugs, with Medicaid, Medicare or commercial insurers covering a portion of the cost. Valeant has received a lot of criticism lately... 
 

Batteries Will Power Office Buildings in Orange County

Orange County’s biggest landlord is having energy systems that are battery powered at over a dozen different office buildings as part of California’s initiative to fight against global warming and to rebuild capacity lost when the nuclear plant San Onofre was shut down. Irvine Co. is planning to install these systems, which use batteries purchased from Tesla owned by Elon Musk, to provide the electricity during periods of the area’s peak demand, typically summer days that are hot when tenants increase the power of their air conditioners. The... 
 

Lyft the Ride-Hailing Business, Partners with Shell and Hertz

Lyft has entered into a partnership with Hertz Global to offer its drivers rental cars, the ride-hailing business said this past week. Daily, weekly as well as monthly rental by Hertz are available as part of a new program for Lyft drivers across Las Vegas, said the VP of partnerships at Lyft Oliver Hsiang. Aimed at Lyft drivers who do not have a vehicle of their own or those that do not meet the standards of Lyft, such as four doors, the new plan will expand to other markets eventually, said Hsiang. He did not offer any timeline. Las Vegas drivers... 
 

FIFA Unraveling Even More

The FIFA front office will be a bit emptier for a while as Sepp Blatter the president and some of his lieutenants were suspended. On Thursday, at the world headquarters of the world’s most popular sport a number of top officials at FIFA were given sanctions by the organization. The disciplinary section of the governing body of world football handed three of its top officials including its president provisional bans of 90 days. Michel Platini the President of UEFA is the head of the body that runs all of European football and the Champions League,... 
 

Google Jumps Into The News Industry (NASDAQ: GOOG)

Google announced a new news-focused tool on Wednesday, becoming the latest tech company to jump into the news industry. The new tool will reduce the loading time of news stories after they are selected from a Google search. Stories and video can take several seconds to load on the mobile web, an eternity for impatient readers Google, Apple, Facebook, and Snapchat all want to control how we get and see news on our phones. Facebook started testing “Instant Articles” in May with a handful of publishers, including the New York Times, BuzzFeed... 
 

August Trade Gap Widened in the U.S.

The trade deficit in the U.S. widened during August by its most in the last five months as imports started to pick up and weaker growth overseas limited sales to those abroad. The gap widened by 15.6% to over $48.3 billion from July’s revised amount of $41.8 billion, said the Department of Commerce on Tuesday. The forecast by economists was for the deficit to be $48 billion. Exports of U.S. goods dropped to their lowest level since June of 2011. The U.S. dollar is the strongest it has been in 12 years and weakness is being seen in emerging markets... 
 

Oil Rebounds After Producers Lower Rig Counts

Crude oil rose in price after explorers in the U.S. reduced their rig counts to a low of five years, signaling further production drops. West Texas Intermediate futures bounced after news by Baker Hughes was released that said rigs that targeted oil in the U.S. dropped by 26 this week to 614. Prices fell by as much as 1.7% earlier on data from the government that showed the U.S. had added only 142,000 jobs in September, compared to a gain of more than 200,000 projected by analysts. Oil has stayed close to the $45 per barrel rate for over four weeks... 
 

GM Projecting Record Month as Ford Tops Estimates

Fiat Chrysler Automobiles kept its streak of monthly sales alive as its U.S. deliveries were up 14% during September powered by a 40% rise by Jeep. GM, Nissan, and Ford beat estimates, while Fiat Chrysler and GM projected a sales pace that was faster than the rest of the industry has seen in the past decade. The automaker that is Italian-American reported 193,015 vehicles sold last month, matching the increase predicted by an average of analyst estimates. Sports utility vehicles for Jeep, led by Cherokee record, had their second biggest month every... 
 

Raytheon Wins Cybersecurity Contract for $1 Billion

The Homeland Security Department awarded a huge contract for cybersecurity to Raytheon that is worth over $1 billion. Homeland Security hopes this will help to shore up the defenses of the federal government against the ongoing onslaught of cyber attacks. The contract, one of the biggest civilian orders for cybersecurity in many years, would help over 100 federal civilian agencies protect networks against the malicious hackers. It comes following the most damaging attack in history on the Office of Personnel Management. OPM recently announced that... 
 

Google Uses Android Allegedly to Stifle Its Competition

Google’s dominance is possibly reaching alarming proportions, which is why the Federal Trade Commission in the U.S. might have to step in to ensure other app developers received enough exposure to users of Androids. The investigation has already been given the approval of the Department of Justice and looks to answer a simple question: Is the search engine giving its own apps unfair advantage in Android over apps that are made by other developers. Reports say that Android could be considered a monopoly especially when it comes to apps. Android... 
 

Golden Road Brewing Acquired by Anheuser-Busch InBev

The largest Los Angeles craft brewery, Golden Road Brewing is being purchased by Anheuser-Busch InBev the beer giant. The news of the acquisition first broke on Wednesday morning as many from the craft beer industry from around the nation had convened in the city of Denver for the opening of the Great American Beer Festival an annual trade show that allows attracts thousands. Details of the acquisition were sparse from the press release that announced the deal and were accompanied by a video of Meg Gill the president of Golden Road and Andy Goeler... 
 

Darden Raises Its Guidance on Revenue Increase

Darden Restaurants Inc announced that sales had grown faster than were expected during its most recent quarter as the turnaround of the Olive Garden brands started to gain traction. Olive Garden was helped by its customized lunch options, new sandwiches made with breadsticks and the increased popularity of its takeout option. Sales at same stores at the chain of Italian restaurants increased 2.7% during the recently ended quarter, marking the fourth straight quarter of growth in same stores for the chain. In June, Darden revealed its plans to separate... 
 

Brains Tested of Former Players in the NFL Continue Trend of CTE

Researchers who are researching a degenerative form of disease in ex-NFL athletes say that 11 of the 12 brains of dead former players that were tested during the last year had showed signs of the development of chronic traumatic encephalopathy (CTE) which continues a trend they have tracked. A story on lne Friday said that out of 91 brains examined of former players in the NFL 87 of the had CTE in some stage of development. According to the report, many of the brains of players had been donated for this research had suspected they were suffering... 
 

China Asking Tech Firms to Sign New Controversial Pledge

U.S. tech companies are being pressured by China to agree to many measures that could ultimately force them to hand over their user data to the central government. According to a report in the New York Times, a government agency in China sent letters to tech companies during this past summer requesting they promise that they will not harm the security of China, would store their user data within the borders of China and would make sure products were both controllable and secure. These stipulations could eventually lead to the tech businesses being... 
 

Steep Drop in Output of Autos Lowers Production in Factories

Automakers in the U.S. cut back on production sharply in August, lowering the overall output in factories and highlighting a weak spot in the economy a day prior to a key meeting of the Federal Reserve. Manufacturing production has fallen 0.5% the largest decline since January of 2014, said the Federal Reserve on Tuesday. The drop in output in the autos accounted for the largest part of the decline. Computer, furniture and airplane production also dropped. Policymakers from the Fed will start a meeting of two days on Wednesday, to consider whether... 
 

Compound in Red Wine Helps Slow Progress of Alzheimer’s

A small study found that the compound in red wine called resveratrol, which is also found in dark chocolate and red grapes, might help to slow down the progress of Alzheimer’s disease. Researchers from Georgetown University saw that it affects the biomarker of Alzheimer’s but have cautioned that additional studies were needed prior to resveratrol being recommended for people who have the disease, which to date has no cure. In the study, 120 people who have Alzheimer’s disease took resveratrol in medication form or received a placebo each day... 
 

Cuba Releasing 3,500 Prisoners Prior to Pope Arriving

Cuba announced that it would release over 3,500 prisoners in a gesture of goodwill ahead of a Pope Francis visit. The Caribbean island government in the capital of Havana said those who will be freed include inmates due for conditional releases along with many foreign prisoners. Inmates who are guilty of crimes against the security of the state are not eligible to be released, which would seemingly rule out several political prisoners that are high-profile. The Pope is visiting the island nation for three days next week. According to Granma, the... 
 

McDonald’s: Cage Free Eggs Within Ten Years

McDonald’s is making changes again. The burger chain announced it would be switching to all cage-free eggs within the next decade. According to the United States Department of Agriculture, cage free eggs are from birds that can roam freely inside an enclosed area and do not have limited access to fresh water and food. Last March, McDonald’s announced its commitment to chickens that are raised without any human antibiotics. The company might drop its liquid margarine for real butter, according to new reports that surfaced earlier in the month. The... 
 

Sales Dip for GM during August in China

General Motors Co reported on Monday its largest drop in sales for China in the past five months during August as many global automakers are struggling with a deepening slowdown in the economy and dropping equities in the largest auto market in the world. Sales of vehicles for GM and its partners in a joint venture fell by 4.8% in August compared to the same month last year, while Ford Motor as well as Nissan Motor also reported shrinking sales for August, highlighting the divide between the winners and losers in China’s car market. The figures... 
 

Brain Stimulation Could Ease Motion Sickness Symptoms

A team from Imperial College London said that early trials using 20 people suggested the method of using electricity stimulation of the brain could ease motion sickness symptoms similar to the effect that drugs have but without any drowsiness. The electrical current is able to interfere with messages arriving from part of the ear that controls a person’s balance. Other scientists have urged a healthy skepticism of the study until a larger trial can back the findings. Whether traveling by car, boat or plane motion sickness results from mixed messages... 
 

Haggen Suing Albertsons Following Their Merger

Haggen has filed a lawsuit on September 1 that seeks over $1 billion in damages from the supermarket chain Albertsons. The complaint claims that Albertsons made systematic and coordinated efforts to eliminate competition and Haggen as a competitor in more than 130 local markets across five states. The complaint also said Albertsons made false representations to both the FTC and Haggen about the commitment by Albertsons to a transformation in a seamless merger of the stores into viable competitors under the banner of Haggen. The suit was filed in... 
 

Lululemon Price Increases Raise Customers’ Ire (NASDAQ:LULU)

Some Lululemon customers are hopping mad at the company’s latest attempt to raise prices on their products. The price hikes were spotted by eagle eyed customers on Tuesday. They reported that the company increased prices for some cropped pants from $72 to $88. Many of the other pants sold by the company are now priced at $98. A representative for Lululemon says that the price increases did not occur across the board, disclosing that some prices increased, some decreased, and roughly half stayed the same. On Lululemon’s message boards,... 
 

Unemployment in Germany Drops While Manufacturing Gains Momentum

German unemployment dropped during August, while manufacturing increased momentum, signaling that the largest economy in Europe would maintain growth. Joblessness fell by 7,000 on a seasonally adjusted rate to 2.79 million said the Federal Labor Agency located in Nuremberg on Tuesday. The rate of unemployment stayed at 6.4%, while the manufacturing Purchasing Managers’ Index rose from July’s reading of 51.8 to 53.2, which is far above the level of 50 needed to indicate expansion. Germany is ready for a period of solid growth that is supported... 
 

Alnylam New Drug Might Threaten Regeneron, Amgen and Sanofi

An experimental drug made by Alnylam Pharmaceuticals and Medicines Co, was able to cut the bad LDL cholesterol levels amongst patients in a small scale trial by almost as much as the new treatments offered by Amgen Inc, Regeneron Pharmaceuticals and Sanofi, with much less frequency of use. The experimental medication is a member of new treatments that are targeting the protein PCSK9, that allows too much of the bad cholesterol to circulate in blood. The new results were released on Sunday in London. The drug by Alnylam is known as ALN-PCSsc and... 
 

Jobless Claims in U.S. Remain Close to Historic Lows

The number of people in the U.S. seeking unemployment benefits last week for the first time fell, suggesting the U.S. labor market has remained healthy. The initial claims for jobless benefits a proxy for countrywide layoffs in the U.S. dropped by 6,000 to 271,000 for the week that ended on August 22, announced the Labor Department on Thursday. The drop comes following four consecutive weeks of increases. Economists estimated that there would be 273,000 claims. The Department of Labor said no special factors existed that impacted this most recent... 
 

Verizon FiOS Service Delayed In Many NYC Neighborhoods (NYSE:VZ)

In 2008, New York City came to an agreement with Verizon for the company to offer its high-speed FiOS Internet service throughout the city. Under the agreement, Verizon would lay enough fiber-optic cable for FiOS to pass all three million homes in the city. Now, seven years later, many New Yorkers are still waiting for the service to become available to them. The deadline for the project was the end of last year. Universal access to affordable broadband would help bridge the divide between those who can get online easily and inexpensively and those... 
 

China Lowers Interest Rates and Reserve Ratio

The central bank of China cut its interest rates as well as lowered the amount of reserves that banks are required to hold. This was the second time in the past two months the central bank has done this. The hope of the bank was to ratchet up support for a sputtering economy and a stock market that has plummeted sending a rippling affect across the globe. The moves come after stocks in China tumbled again Tuesday, as investors despaired at what they called a lack of policy action by Beijing in response to the recent data that suggested a downturn... 
 

Boy Born Without Ears Receives New Pair in Surgery

For most of the kids, the first day of school is to show off their new clothes and explain to their friends what they did during the summer. However, for Eli Bell an 8-year old, it was about showing of a new pair of ears. Aaron his father said all his son had before his surgery was pieces of cartilage. He said his son had been born without any ears, which is a condition known as Bilateral Microtia. Bell said that he and his wife had no idea their son would be born with the condition. They both knew that reconstructive surgery was needed by were... 
 

Canadian Inflation Measure Up 1.3% during July

Annual inflation in Canada increased at a faster rate in July due to high costs for items than were imported like cars and food that offset the lower prices of gasoline and energy. The all-items consumer price index for Canada was up 1.3% during July from the same period one year ago, said the government agency Statistics Canada on Friday, matching the expectations in the market. During June, the CPI was up 1%. At the same time, the annual rate of core inflation, which excludes the volatile components such as energy and food prices was up in July... 
 

Trimming Expenses Led To Stronger Earnings For Target (NYSE:TGT)

Intensive cost cutting lifted Target’s bottom line in the most recent quarter. For the second quarter of its fiscal year, Target reported adjusted earnings of $1.22 a share. This was considerably higher than analysts’ estimates of earnings of $1.10 for the quarter. Target previously predicted that earnings would fall within a range of $1.04 to $1.14 in the second quarter. The strong earnings results has prompted the company to raise its annual outlook to earnings of $4.60 to $4.75 a share. The company previously forecast earnings of $4.50 to... 
 

American Eagle Sees Growth in Comparable Store Sales

American Eagle Outfitters the retailer for teen apparel reported its best growth in comparable sales in the past 13 quarters helped by a broader range of merchandise and less discounts. American Eagle, unlike its rivals Abercrombie & Fitch and Aeropostale has managed to win shoppers back by improving merchandise to reflect the trends such as bohemian and festival inspired tops and dresses, shirt dresses as well as denim pencil skirts. The company announced it had benefited as well from moving away from its clothing that was logo centric, which... 
 

Jason Day’s Failures Prepared Him for Winning the PGA Championship

Australian Jason Day believes that the previous near misses on the golf course prepared him to keep his nerves in check so he could win Sunday’s PGA Championship at Whistling Straits in Kohler, Wisconsin. The 27-year old had finished in top four of six previous majors prior to his win on Sunday. Day told reporters he has seen a number of mental coaches, but the biggest thing preparing him for something such as Sunday’s win was the experience he has had facing failure. Day won the event on Sunday with a score of 20 under par, breaking a major... 
 

North Dakota Oil Production Holding Its Own

North Dakota is doing well as far as oil producing is concerned, despite the huge drop in the price of oil and predictions the shale boom in the U.S. was soon fade. The Department of Mineral Resources in North Dakota released a new report that put the oil output for the state at 1.21 million barrels per day during June, which is the second highest rate for a month ever recorded. North Dakota set another monthly record for the production of natural gas during June at 1.6 million cubic feet. Production from the Bakken Shale in North Dakota has slowed... 
 
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