News Summary: November 2-6

PLEASE NOTE: The stories reported below are for informational purposes only to educate our clients on the weekly news stories; real, funny, educational, and otherwise. The source of most news will stem from the Wall Street Journal (WSJ), Financial Times (FT), Barrons (B), Business Week (BW), and Bloomberg (Bbg). The purpose of this is NOT to solicit any offers to buy or sell stocks, mutual funds, commodities, or other financial assets – merely to report the news. Please call us to discuss any investment questions you may have. Additionally, we will not take sides in any political or religious news that we report, we will only present the objective facts, and perhaps opine on them from a neutral perspective. Finally, the opinions represented are those of David Abuaf, and not necessarily of Forman Investment Services or Raymond James or its affiliates. 

A quick list of shortcuts: DoJ (Dep’t of Justice), ECB (European Central Bank), EZ (Euro Zone), EU (European Union), BoE (Bank of England), BoJ (Bank of Japan), CB (Central Bank) example: BoX (Bank of X country), SCOTUS (Supreme Court), Ccy (Currency), WH (White House), HY (high yield – bonds), IG (investment grade – high quality bonds), OECD (Org for Economic Cooperation & Dev), IMF (Int’l Monetary Fund)


News for the Week of 11/2/2015 – 11/6/2015

by David Abuaf Investment Manager, RJFS


Government / Political / nEconomic

1.     Turkey’s leading party staged a comeback, regaining one-party rule amid voter concern over Islamic State and Kurdish militants.

2.     The US temporarily cut the flow of billions of dollars to Iraq’s central bank this summer amid concerns the currency was ending up at Iranian banks and possibly being funneled to ISIS.

3.     Death rates are rising for white, middle-aged Americans, largely driven by suicide, alcohol abuse, drug overdoses and liver diseases.

4.     Russia’s aviation chief dismissed a claim that pilot error and technical defects could be ruled out as causes of the jet crash in Egypt.

5.     Obama appears increasingly likely to have to resort to an executive action to close Guantanamo prison.

6.     Mexico’s top court issued a ruling advocates hope will lead to the rapid legalization of marijuana nationwide.



General Markets / Economic

1.     Corporate bond sales in the US are on track for their fourth straight annual record, a sign of investors’ faith in the economy.

2.     German regional banks are heading into riskier markets after years of retrenchment as they seek to expand.

3.     Some retailers are offering more hours of higher pay as they face a shrinking pool of holiday workers.

4.     China’s factory activity decreased at a slower pace in October.

5.     Gasoline prices are declining more slowly than oil, in part because refiners are keeping more profits.

6.     US manufacturing grew at its slowest pace in over two years last month.

7.     US light vehicle sales rose 13.6% in October.


Company News

1.     Health Insurers are recalibrating their offerings as the ACA’s third enrollment season gets under way.

2.     Honda said it will no longer use Takata front driver or passenger air bag inflators in new vehicles.

3.     Caterpillar has received more subpoenas relating to a US grand jury investigation of its tax practices.

4.     Newspaper publisher Freedom Communications filed for chapter 11.

5.     The EPS leveled fresh emissions-rigging charges against Volkswagen, but the auto maker disputed the claims.

6.     Activision is acquiring King Digital for $3.4B, combining two videogame giants.

7.     Syngenta, DuPont and Dow Chemical are discussing deals as falling crop prices pressure agricultural-industry profits.

8.     Shire agreed to pay up to $6.5B for biotech firm Dyax even as it chases a $30B deal for rare-disease rival Baxalta.

9.     Kraft Heinz plans to shed 2,600 jobs by closing seven manufacturing plants.

10.  United’s CEO said he plans to return to his job in the first quarter, after suffering a heart attack a few weeks ago.


Interesting Stories

1.     Doctors in the UK used a novel gene-editing technique to eliminate an infant’s aggressive cancer.

2Julian Hernandez, now 18, discovered he had been kidnapped 13 years earlier while trying to apply for college and learning his Social Security number did not match his name.

3.Christy Walton, the Walmart heir everyone believed was one of the richest women in America is actually $27 billion poorer than people thought.

4. Surprise!  A 47 year old woman, went to the hospital with abdominal pain and delivered an 8-pound 2-ounce baby girl; the first child for she and her husband of 22 years.



This information is not a complete description of the securities, markets, or developments discussed and has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.  This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. 

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