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Weakening prices midday don’t necessarily mean the rally has ended, “Fast Money” pros said Wednesday on CNBC.
TORONTO, Oct 10- Canada's main stock index was slightly lower on Wednesday morning as materials shares strengthened and financials weakened after the starting round of the U.S. earnings season flashed mixed signals. A warning from Alcoa Inc.
*Alcoa beats expectations but cautions of slowdown. *Yum Brands defies China sluggish growth, raises outlook. NEW YORK, Oct 10- U.S. stocks dipped on Wednesday as earnings season began with Alcoa forecasting slower demand for aluminum, while a profit warning from Chevron weighed on the energy sector.
Rachael Rothman, Susquehanna Financial Group analyst, and Jeffrey Bernstein break down the company's third quarter earnings of $0.99 per share versus $0.97 est, on revenues of $3.57 billion.
NEW YORK-- Downbeat reports from Alcoa and Chevron at the start of a critical corporate earnings season pulled stock indexes lower for a third straight day Wednesday. Alcoa, the aluminum producer, beat Wall Street earnings estimates on Tuesday night but said it expects a slowdown in China to weaken demand for aluminum.
LOUISVILLE, Ky.-- The owner of the Taco Bell, Pizza Hut and KFC chains predicted Wednesday its fast-growing China business will serve up another round of strong profit growth next year despite a slowing economy in its most important overseas market.
It's early in the third-quarter earnings season, but two trends are emerging.
NEW YORK, Oct 10- U.S. stocks opened flat on Wednesday as earnings season began mixed, with Alcoa Inc warning on slowing aluminum consumption but Yum Brands raising its outlook. The Dow Jones industrial average was down 19.35 points, or 0.14 percent, at 13,454.18. The Nasdaq Composite Index was down 1.06 points, or 0.03 percent, at 3,063.96.
*Alcoa beats expectations but cautions of slowdown. *Yum Brands defies China sluggish growth, raises outlook. NEW YORK, Oct 10- U.S. stocks were set for a slightly lower open on Wednesday as earnings season started with a warning from Alcoa about slower aluminum consumption, underscoring concerns about sluggish worldwide growth.
Take a look at some of Wednesdays morning movers.
U.S stock index futures struggled for direction Wednesday amid ongoing worries over the euro zone and jitters about sluggish global growth.
*Alcoa beats expectations but cautions of slowdown. NEW YORK, Oct 10- U.S. stock index futures edged lower on Wednesday after Alcoa kicked off earnings season by warning of a slight slowdown in some markets, highlighting concerns about sluggish global growth, even as its quarterly results beat expectations. Alcoa shares lost 0.7 percent to $9.07 in.
*Alcoa beats expectations but cautions of slowdown. *Yum Brands defies China sluggish growth, raises outlook.
Pizza Hut is offering a lifetime of free pizza _ one large pie a week for 30 years _ or a check for $15,600 to anyone who poses the question to either President Barack Obama or Republican candidate Mitt Romney during the live Town Hall- style debate next Tuesday.
PARIS, Oct 10- U.S. stock index futures pointed to a flat opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.06 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures up 0.02 percent at 0830 GMT.
Equities finish lower, Alcoa and Yum get earnings season off to a good start.
A sudden bubbling up of oil prices has shifted market focus to the Middle East, heading into Wednesday’s session.
YUMMY: Third-quarter profit at Yum Brands Inc. rose 23 percent, thanks to rebounding profit growth in China and strong demand in the U.S. at its Taco Bell, Pizza Hut and KFC chains. CHINESE FOOD: Third-quarter operating profit rose 22 percent in China. Yum expects to open at least 750 new restaurants in China this year, up from its prior forecast of 700 new stores.
Among the earnings stories for Tuesday, Oct. 9, from AP Business News:. _ Aluminum manufacturer Alcoa Inc. said that it lost $143 million in the third quarter due to hefty one-time charges but the results topped Wall Street estimates.
LOUISVILLE, Ky.-- For the owner of the Taco Bell, Pizza Hut and KFC chains, it was a profitable combo _ higher demand in the U.S. and a quick turnaround in its fast-growing China division. Operating profit in China rose 22 percent, when adjusted for currency fluctuations.