Yahoo Finance Morning Brief: Xi Jinping is a danger to open society, says Soros
MORNING BRIEF: Friday, January 25, 2019
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WHAT TO WATCH
The U.S. government shutdown enters day 35, and key economic data continues to be postponed. Durable goods order data for December as well as December’s new home sales data are both delayed indefinitely due to the shutdown.
It is a relatively quiet day for corporate earnings. Before the opening bell, pharmaceutical giant AbbVie (ABBV), consumer-products maker Colgate-Palmolive (CL) and homebuilder D.R. Horton (DHI) are set to report financial results.
TOP NEWS
Xi Jinping is the 'most dangerous opponent' to open society, says Soros: Billionaire hedge fund manager George Soros warned that the machine learning and artificial intelligence used in creating China's Social Credit System is creating "an unprecedented danger that is threatening the very survival of open societies." [Yahoo Finance]
Ackman offers a solution to ending the shutdown: Bill Ackman, the founder of Pershing Square Capital Management, lit up Twitter Thursday night offering a solution to ending the government shutdown. “Why should members of the Congress be paid while workers for the Federal government go unpaid?,” the 52-year-old activist investor tweeted. [Yahoo Finance]
Starbucks shares climb on sales and earnings beats: Starbucks (SBUX) reported better than expected results for the fiscal first-quarter. For the fiscal first quarter ended December 31, Starbucks reported earnings-per-share of 75 cents, beating analysts’ estimates of 65 cents. Revenue for the quarter came in at $6.6 billion, surpassing forecasts of $6.49 billion. [Yahoo Finance]
Weak Intel outlook stokes fears of a chip slowdown: Intel Corp. (INTC) forecast current-quarter revenue and profit below analysts' estimates and missed fourth-quarter sales estimates on Thursday, hit by a slowdown in China and sluggish demand for its data center and modem chips. [Reuters]
Tencent shares jump after new games approved: Tencent Holdings Ltd saw its shares jump more than 3% on Friday as investors cheered Chinese regulators' approval of mobile games published by the industry leader for the first time since a freeze on approvals imposed in March. [Reuters]
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