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Wall Street on edge with China data, earnings

IN THE NEWS TODAY

U.S. stock futures were lower this morning, after Wall Street capped a third straight winning week. The market drivers this week include the accelerating pace of quarterly earnings. (CNBC)

Morgan Stanley (MS) is among this morning's profit reports, reporting a miss on the top and bottom lines. Meanwhile, Dow component IBM (IBM) leads this afternoon's after-the-bell list.


China said its economy expanded at the slowest pace since the financial crisis: up 6.9 percent in the third quarter, better than the expected 6.8 percent but down from 7 percent in the previous period. (CNBC)

Oil prices dropped this morning on the China GDP figures, which sparked concerns about demand. Traders are also watching as President Barack Obama on Sunday officially put the Iran nuclear deal into effect. (Reuters)

Deutsche Bank (DB) has announced a sweeping reorganization, with the German financial giant splitting its investment bank in two and parting ways with some of its key executives. (CNBC)

A high-profile U.S. investigation of bribery allegations against the Mexican operations of Wal-Mart (WMT) has found little in the way of major offenses, and could be resolved with a fine and no criminal charges. (WSJ)

The daily fantasy sports website DraftKings accepted entries into its contests for the weekend, apparently defying an order from the Nevada Gaming Control Board to quit operating immediately within the state. (NY Times)

Apple (AAPL) was ordered to pay more than $234 million to the University of Wisconsin's patent licensing arm for infringing its patent on microchip technology used in some of Apple's iPhones and iPads. (AP)

Amazon (AMZN) has filed suit against hundreds of people for publishing "false, misleading and inauthentic" reviews on its website. It appears to be an extension of action take earlier this year. (Telegraph)

Google-owned YouTube is readying a slate of programming, set to be announced next week, that will only be available to users who join its upcoming subscription services. (Re/code)

After a glitzy roadshow, Ferrari's long-awaited IPO will likely be priced tomorrow, with its first day of trading on the New York Stock Exchange expected Wednesday. (NY Times)

Match Group, behind of dating services such as Match.com, Tinder, and OkCupid, has filed with regulators for an IPO. Match is owned by media mogul Barry Diller's IAC/InterActive (IACI). (Reuters)

Congress gets back from a week-long break today, with another showdown over raising the debt ceiling looming. Last week, Treasury Secretary Jack Lew said Congress needs to act by Nov. 3. (USA Today)

Treasury Secretary Jack Lew told CNBC today he worries that waiting until the last minute to raise the nation's borrowing authority could result in a terrible accident. (CNBC)

GOP presidential candidate Rand Paul, struggling in the polls, blamed what he calls the "celebrity culture" in the nation for leading to the rise of frontrunner Donald Trump. (CNBC)

BY THE NUMBERS

Ahead of next week's October meeting of Fed policymakers, the National Association of Home Builders is out with its October sentiment index at 10 a.m. ET, with expectations for a read of 62, unchanged from the September reading.

Third-quarter growth targets for the U.S. economy average 1.6 percent, according to a CNBC/Moody's Analytics survey, with some forecasts as low as 1 percent after Q2 GDP grew at a 3.9 percent pace.

It's another busy day for Fed-related appearances, with speeches today from Fed Gov. Lael Brainard, Chicago Fed President Charles Evans, and Richmond Fed President Jeffrey Lacker.

STOCKS TO WATCH

Aetna (AET) and Humana (HUM) are putting their $37 billion merger plan to a vote by investors. ISS and Glass Lewis are advising support for the deal. Results are expected this afternoon.

Valeant Pharmaceuticals (VRX) beat estimates by 4 cents with adjusted quarterly profit of $2.74 per share. Revenue was slightly below forecasts, but Valeant did raise its full-year forecasts for both revenue and profit.

Shire (SHPG) failed to receive FDA approval for its dry eye disease drug Lifitegrast, with the agency recommending the company conduct more clinical studies.

JPMorgan Chase (JPM) and Morgan Stanley will pay more than half of a $1.86 billion settlement in a swaps price-fixing case, according to a court filing.

ATM maker Diebold (DBD), based in Ohio, is offering to take over Nixdorf in a deal that would value the German company at more than $1.9 billion.

IBM is in advanced talks to buy the digital assets of the Weather Channel, according to Re/code. The service is owned by two private equity firms and NBCUniversal. Comcast owns NBC and CNBC.

AT&T (T), Verizon (VZ), and other telecom companies are being investigated by the FCC for alleged anticompetitive practices, centering on pricing plans for business data services.

Shares of Weight Watchers (WTW) soared in premarket trading after the weight loss company said Oprah Winfrey is taking a 10 percent stake and will join the board of directors.

There's been no new information from United Continental (UAL) since Thursday's hospitalization of new CEO Oscar Munoz. He reportedly suffered a heart attack.

WATERCOOLER

Presales on tickets to Disney's upcoming "Star Wars: The Force Awakens" movie open tonight, after the debut of the full trailer during halftime of "Monday Night Football" on ESPN. (NY Times)

It's been more than four years since she released her record-breaking album, but British pop sensation Adele gave fans a teaser Sunday of what's to come. (CNBC)