- The head of Action Alerts PLUS portfolio holding Apple (AAPL) said the company's music streaming service, which launched at the end of June, has 6.5 million subscribers, the Wall Street Journal reports. CEO Tim Cook also said the new version of Apple TV will start shipping at the end of next week.
- Starbucks (SBUX) and Fiat (FCAU) are likely to be asked to pay tax worth tens of millions of euros by the European Union later this week, when it will issue a landmark ruling on tax avoidance by multinationals, the Financial Times reports. The ruling will set the stage for a potentially bigger showdown with Apple and Growth Seeker portfolio name Amazon.com (AMZN), the paper adds.
- Amazon.com said it would create around 100,000 seasonal jobs for the winter holidays in the U.S., up from last year's 80,000. It said "tens of thousands" of last year's seasonal workers found permanent jobs with the company.
- Hard disks maker Western Digital (WDC) is in advanced talks to buy memory chips maker SanDisk (SNDK), Reuters reports quoting sources. Western Digital has so far prevailed over other suitors for SanDisk, which has a market capitalization of $14.6 billion, people familiar with the talks told the newswire.
- Canada's Liberal Justin Trudeau toppled Prime Minister Stephen Harper's Conservatives in elections, seizing the majority in Parliament. He promised to run a budget deficit worth 10 billion Canadian dollars ($7.68 billion) annually for three years to invest in infrastructure and boost the anemic economic growth. This has rattled investors, already worried by the effect of falling commodity prices on the Canadian economy.
More from U.S. Equity
It continues to be a market for stock-pickers rather than market-timers.
Few who are buying these names on the Robintrack leaderboard are looking at the side that really matters.
Markets are clearly different now. I did not grow up, nor was I trained for this environment. Nobody else you hear today was either.