Minutes under lens as traders seek clues on Fed timing
The Septembers 16-17 Federal Reserve meeting kept rates unchanged, triggering investor confusion and volatility. Markets expect minutes to reveal why policy makers held fire, with a March 2016 lift-off viewed as likely if hawkish signals emerge. Analysts cite job and factory data since then as shaping the outlook.
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Bill Hornbarger
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SigFig users show widening churn gap across wealth quartiles
SigFig analysis finds the poorest 25 percent of users who traded in the last year exhibit four times the portfolio churn of the wealthiest 25 percent. The report notes nationwide investor activity with SigFig’s online tracking service overseeing assets around 200 billion dollars across over half a million account holders.
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Yum Brands Posts Soft Third Quarter on China Slump
Yum Brands reports weaker third quarter results missing expectations due to weakness in the Chinese market. Pandora agrees to buy Ticketfly for 450 million dollars, expanding its live events platform as Ticketfly sold 16 million tickets last year across 90,000 shows.
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Pandora
Ticketfly
Media General Eyes Mer edith Buy Amid Bid Fight
The IV station owner may end its 3.1 billion pursuit of Mer edith, per the New York Post. Nexstar Broadcasting counters with a 4.1 billion bid to acquire Media General, challenging the deal.
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New York Post
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Yum Brands slides on China fears after quarterly miss
Yum Brands reported a weaker third quarter with adjusted earnings of $1 per share and revenue of $3.4 billion, missing estimates by about six to seven percent. The stock dropped about 19 percent to $67.71 as investors fret over China’s slowing economy, even as Taco Bell and KFC unit growth persists and analysts maintain an outperform rating with an 18 month target around $89.45.
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VW boss to testify on emissions scandal at first public hearing
Volkswagen Group of America CEO Michael Horn will face a House Energy and Commerce subcommittee hearing on the emissions cheating scandal that affected up to 11 million diesel cars worldwide. EPA officials Christopher Grundler and Phillip Brooks will also testify as lawmakers seek details on the deception and agency failings.
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