Reuters - Daily Investor Update

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Friday, October 13, 2017

Data, tech stocks boost Wall Street

NEW YORK (Reuters) - U.S. stocks rose on Friday and the Nasdaq notched a record high, helped by upbeat economic data and gains in technology shares.

Fiat Chrysler recalls 470,000 vehicles for restraint defect

WASHINGTON (Reuters) - Fiat Chrysler Automobiles NV said on Friday it is recalling 470,000 vehicles worldwide to replace a component that may inhibit deployment of the vehicles’ active head restraints in the event of a crash.

Qualcomm files lawsuits in China to ban iPhones

(Reuters) - Qualcomm Inc confirmed an earlier report that the chipmaker had filed lawsuits in China, seeking to halt the manufacture and sale of Apple Inc's iPhones in the country.

Weinstein Co said to explore sale or shutdown, but company denies report

(Reuters) - The Weinstein Co, the film production company part-owned by Harvey Weinstein, is exploring a sale or shutdown and is unlikely to continue as an independent entity, The Wall Street Journal reported on Friday, but the company's co-chairman, Bob Weinstein, denied the report.

Ford offers repairs to prevent exhaust leaks in 1.4 million Explorers

WASHINGTON (Reuters) - Ford Motor Co said on Friday it will offer free repairs to North American owners of more than 1.4 million Explorer sport utility vehicles to help ensure that carbon monoxide and other exhaust gases cannot get into the vehicles, following the U.S. government's decision to upgrade an investigation in July.

Luxury jet buyers think resale value in tough market

LAS VEGAS (Reuters) - Members of the elite private jet set are customizing their planes with full-sized showers, beds and windows - but when it comes to decorating, an increasing number are steering clear of gold panels and gaudy features, opting instead for the airborne equivalent of beige.

Wells Fargo revises expense outlook, signaling profit difficulties ahead

(Reuters) - Wells Fargo & Co management signaled on Friday that the bank may struggle to hit expense targets through next year, raising questions about how much a sales scandal is weighing on the bottom line.

Wells Fargo $1 billion accrual due to talks with U.S. Justice Department

(Reuters) - Wells Fargo & Co took a $1 billion mortgage litigation accrual in the third quarter because it is in talks with the U.S. Department of Justice, Chief Financial Officer John Shrewsberry told Reuters on Friday.

Wall Street raises targets on Netflix, citing price increases

(Reuters) - Netflix Inc shares hit an all-time high on Friday as Goldman Sachs and other brokerages raised their price targets on the world's biggest online-streaming company, citing its ability to raise fees without scaring away customers.

Saudi Aramco in talks to shelve international IPO: FT

(Reuters) - Saudi Aramco is considering shelving plans for an international public offering in favor of a private share sale to world sovereign funds and institutional investors, the Financial Times reported, citing people familiar with the matter.