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Monday, October 20, 2014

Business Today: Futures lower as weak IBM earnings weigh

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Futures lower as weak IBM earnings weigh
NEW YORK (Reuters) - U.S. stock index futures were lower on Monday, on the heels of a fourth week of losses for the benchmark S&P 500, as quarterly results from IBM disappointed.
IBM ditches 2015 operating EPS target, shares slump
(Reuters) - International Business Machines Corp said it no longer expected to achieve its 2015 operating earnings target of at least $20 per share after weak client spending resulted in an unexpected fall in quarterly earnings and revenue.
Adidas shares jump on report of bid for Reebok unit
BERLIN (Reuters) - Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion bid to buy Reebok.
Marc Andreessen to quit eBay board
(Reuters) - EBay Inc said venture capitalist Marc Andreessen would quit its board, after the online retailer announced last month that it was spinning off its electronic payment unit, PayPal.
Market action reinforces need for policy patience: Fed's Rosengren
BOSTON (Reuters) - The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters.
Faster 'cloud' orders for SAP hurt 2014 profit outlook
FRANKFURT (Reuters) - German software maker SAP cut its 2014 operating profit forecast on Monday as customers shifted faster than expected to products delivered over the Internet, delaying when those orders can be booked as sales.
Solid data, earnings push world stocks higher
LONDON (Reuters) - Global stocks climbed on Monday, moving further away from eight-month lows hit last week, as strong U.S. data and encouraging third-quarter earnings eased concerns about the pace of global economic recovery.
Valeant reports better-than-expected profit, raises forecast
(Reuters) - Canada's Valeant Pharmaceuticals International Inc , embroiled in a bitter fight to take over Botox maker Allergan Inc , posted a better-than-expected quarterly profit, driven by demand for its skin, neuro and eye drugs.
Credibility meets compromise in Europe's bank stress test
LONDON (Reuters) - When Europe announced its latest health check of top banks early last year it promised a "comprehensive assessment" of how well prepared they were to withstand another financial crisis.
IBM to pay Globalfoundries to take chip unit
(Reuters) - IBM Corp said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing, mobile and big data analytics.
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