Morning Brief

OPEC agreement spurs continued oil rally; stocks close strong Nov

Key Points


Oil was higher again this morning, after soaring 9.3 percent on Wednesday as OPEC members reached their first agreement to cut production in eight years. (CNBC)

U.S. stock futures were mixed ahead of the first session of December, after the Dow and S&P 500 set intraday record highs before fading into the close. The Dow still posted its best month since March, with the S&P 500 and Nasdaq seeing their best months since July. (CNBC)

Trump will start his "thank you" tour today in Cincinnati, in his first public events since winning the White House. The president-elect's victory tour will consist of a series of rallies in states he won in the Electoral College. (WSJ)

President Vladimir Putin of Russia said he was prepared to cooperate with the incoming United States leadership in his annual state of the nation address today. He said the two countries should take responsibility for global security and fight terrorism. (Reuters)

A source told NBC News that Trump may consider former Alaska governor Sarah Palin for the role of Veterans Affairs secretary. Palin, whose son served in the Iraq War, is reportedly interested. (NBC News)

Patients who previously were not helped by repeated treatments for multiple myeloma showed strong benefits with no worrisome side effects from a new type of therapy, said drugmaker Bluebird Bio (BLUE), which its stock soaring about 25 percent in premarket trading. (Reuters)

Researchers found that the majority of the more than one million Google accounts on Androids breached by malware infections since August are based in Asia. The malware targets mobile devices using earlier versions of the Android operating system. (CNBC)

Effective today, a new rule will allow federal agents to hack millions of Americans' computers and smartphones at once with a single search warrant. The bipartisan bill is an effort by the Justice Department to keep up with advancements in criminal tech, especially high-efficiency malware. (USA Today)

Fitbit is in talks to acquire smartwatch maker Pebble, which made headlines for its multi-million-dollar Kickstarter campaign in 2015, sources close to the negotiations said. The deal is not yet complete, but would bring the struggling watchmaker's expertise under Fitbit's wing. (FT)

Auto lending is booming, but loan paying is not, according to Wednesday's report from the Federal Reserve Bank of New York. Regulators are voicing concern about millions of U.S. car owners letting auto loan balances become delinquent. (NY Times)

Facebook Chief Operating Officer Sheryl Sandberg donated over $100 million to the Sheryl Sandberg & Dave Goldberg Family Fund on Nov. 21, according to a regulatory filing. Her donation will be used to fund women's empowerment and mental health initiatives. (Reuters)


Investors have a busy economic calendar for the second consecutive day. At 8:30 a.m. ET, the Labor Department's weekly report on initial jobless claims is expected to show 250,000 new claims for the week ending November 26, compared to the prior week's 251,000.

At 10 a.m. ET, the Institute for Supply Management will be out with its November manufacturing index, expected to rise to 52.5 from October's 51.9.

The government's October construction spending report is expected to show a rise of 0.6 percent, after a 0.4 percent drop in September.

Discount retailer Dollar General (DG), supermarket operator Kroger (KR), and apparel retailer Lands' End (LE) are out with quarterly earnings this morning, while Five Below (FIVE), Smith & Wesson (SWHC), Ulta Salon (ULTA), Workday (WDAY), and Zumiez (ZUMZ) will be out with quarterly numbers after today's closing bell.


Rockwell Collins (COL) is being urged to reconsider its planned $6.4 billion purchase of B/E Aerospace, according to Reuters. The urging comes from activist investor and financial advisor Starboard Value, which has taken a stake in the aircraft component maker.

Dow component Walt Disney (DIS) raised its semi-annual dividend by ten percent to 78 cents per share. That brings the total dividend for 2016 to $1.49 per share, up from $1.37 a year ago.

PVH (PVH) beat estimates by 20 cents with quarterly profit of $2.60 per share. The apparel maker's revenue was essentially in line with forecasts, but it gave weaker than expected guidance for the current quarter. The company behind brands like Calvin Klein and Tommy Hilfiger said it was being cautious in light of macroeconomic and political uncertainty around the globe.

Box (BOX) reported an adjusted quarterly loss of 14 cents per share, compared to consensus estimates of a 19 cent loss. The web storage company saw revenue beat Street forecasts, and it also raised its full-year outlook on stronger sales trends.

Guess (GES) missed estimates by three cents with quarterly earnings of 11 cents per share, and the apparel maker's revenue fell below analyst projections as well. The company also cut its earnings guidance for the year, with restructuring efforts not yet producing the desired results.

Praxair (PX) got a boost in its effort to buy German industrial gas maker Linde, with Linde chairman Wolfgang Reitzle reportedly expressing support for the deal. German newspaper Handelsblatt said Reitzle likes the idea of a deal, but is concerned about Praxair moving toward a hostile bid if a deal isn't worked out.

Blackstone (BX) owned Invitation Homes has filed confidentially for an initial public offering, according to the Wall Street Journal. Invitation Homes manages the largest pool of rental homes in the United States, and the Journal said the offering could come as soon as January.

Wynn Resorts (WYNN), Las Vegas Sands (LVS) and other casino operators with establishments in Macau may benefit after November figures showed a fourth straight month of growth, up 14.4 percent from a year earlier. The four-month rise comes after more than two years of declining gaming revenue.


Food packaging giant Nestle has come up with a new technology that could reduce sugar in some of its products by up to 40 percent without affecting the taste. The KitKat maker said researchers have found a way to use natural ingredients to change the structure of sugar particles. (Reuters)

Michael James "Jim" Delligatti, the creator of the Big Mac, died Monday at the age of 98. His son Michael said that until he began experiencing health problems, the McDonald's guru ate at least one Big Mac per week. (AP)