TOP STORIES
MCDONALD'S PROFIT FALLS 30% ON U.S., CHINA WOES
McDonald's promised significant changes after reporting a
worse-than-expected 30% drop in 3Q earnings and calling its
challenges "more formidable than expected." Revenue fell 5% to
$6.99 billion.
COKE UNVEILS BROADER COST-CUTTING PLAN
Coca-Cola unveiled a broader cost-cutting program and warned it
doesn't expect to meet its previous financial targets as it again
posted lackluster soda volume and struggled with currency
headwinds. Shares fell 6%.
U.S. STOCKS EXTEND GAINS
U.S. stocks rose further as upbeat earnings from Apple helped
the technology sector and after reports that the ECB is considering
buying corporate bonds. The Dow industrials were up about 160
points.
U.S. EXISTING-HOME SALES RISE
U.S. home sales climbed 2.4% in September to their highest level
of the year, a sign of slowly building momentum in a housing market
whose recovery has come in fits and starts over the past year.
ECB MULLS BUYING CORPORATE BONDS AS AN OPTION
The European Central Bank is considering purchasing corporate
bonds as an option if it concludes that more expansive measures are
needed to pump additional money into the eurozone's fragile
economy.
NY FED DIDN'T EXAMINE J.P. MORGAN 'LONDON WHALE'
New York Fed failed to examine J.P. Morgan Chase's investment
unit ahead of the bank's 2012 "London Whale" trading debacle,
despite a recommendation from other Fed supervisors that they look
at the unit involved in the trades, according to a new report.
CEO OF TOTAL DIES IN MOSCOW PLANE CRASH
Russian investigators said that the plane that crashed in Moscow
killing Total's chief executive and three crew members hit a
snow-removal vehicle, whose driver was allegedly under the
influence of alcohol, before bursting into flames and plowing into
the runway.
GLASS LEWIS RECOMMENDS CHIQUITA HOLDERS REJECT MERGER
Proxy-advisory firm Glass Lewis has recommended Chiquita Brands
International shareholders vote down the company's planned merger
with Irish fruit grower Fyffes and consider other options.
J.P. MORGAN FINED $92 MILLION BY EU
J.P. Morgan Chase was fined a total of more than $92 million by
European Union regulators for rigging a benchmark interest rate and
operating a separate cartel for Swiss franc derivatives, marking
the latest phase in an EU crackdown on alleged market abuse by
financial institutions.
TABLETS AGAIN DRIVE VERIZON'S SUBSCRIBER GROWTH
Verizon posted a 3Q profit of $3.7 billion, or 89c a share.
Revenue rose 4.3% to $31.59 billion. Verizon said it added 1.52
million of its most lucrative long-term wireless contracts, again
driven by a surge in tablet connections.
WEST AFRICA EBOLA VACCINE TRIALS TO BEGIN IN JAN
The first trials of vaccines designed to combat the spread of
the deadly Ebola virus should be held in West Africa by January, a
top World Health Organization official said.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Heard on the Street
THE ECB'S EVER-EXPANDING SHOPPING LIST
It's still all about the central banks, writes Richard Barley,
as can be seen in the market's the reaction to a report that the
European Central Bank could decide as soon as December to buy
corporate bonds.
The Wall Street Journal
APPLE'S ICLOUD SERVICE UNDER ATTACK IN CHINA
Apple's iCloud service for users in mainland China has been hit
by an attack that could allow perpetrators to intercept and see
usernames, passwords and other personal data, activists and
security analysts said.