Reuters - Daily Investor Update

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Wednesday, July 26, 2017

Wall Street mints records after Fed, strong earnings

NEW YORK (Reuters) - U.S. stocks climbed modestly on Wednesday to record closing highs after the Federal Reserve kept interest rates unchanged and strong earnings reports from Boeing and AT&T.

Whole Foods profit down as same-store sales declines persists

LOS ANGELES (Reuters) - Whole Foods Market Inc , which has agreed to be bought by Amazon.com Inc for $13.7 billion, on Wednesday reported a quarterly profit decline after same-store sales fell for the eighth quarter in a row.

Facebook profit, revenue smash estimates as mobile ad sales soar

(Reuters) - Facebook Inc crushed quarterly profit and revenue estimates on Wednesday as the social media giant's push into video ads helped bolster its fast-growing mobile ad business.

Uber's Kalanick hires former U.S. prosecutor ahead of Waymo deposition

SAN FRANCISCO (Reuters) - Uber's former chief executive, Travis Kalanick, has hired the former top federal prosecutor in San Francisco to represent him ahead of a deposition in a high-profile trade secrets case against Alphabet's Waymo self-driving car unit, the attorney's firm said on Wednesday.

Foxconn to announce new U.S. manufacturing plant: source

(Reuters) - Taiwanese electronics manufacturer Foxconn will announce plans to build a multi-billion dollar flat panel screen plant in Wisconsin at a White House event later on Wednesday, a source briefed on the matter said.

Volkswagen says cooperation with rivals is common industry practice

BERLIN (Reuters) - Volkswagen said cooperation among carmakers on technical issues is a common industry practice but declined comment on allegations that it engaged in anti-competitive conduct with other German carmakers.

PayPal's profit rises 27.2 percent

(Reuters) - PayPal Holdings Inc reported a 27.2 percent rise in quarterly profit as the payment processor's growing strategic partnerships helped boost payment volumes.

Oil jumps to near eight-week high after big draw in U.S. crude stocks

NEW YORK (Reuters) - Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures above $50 a barrel, as a much steeper than expected decline in U.S. inventories encouraged hopes the global crude glut would recede.

Fed holds rates steady, expects portfolio cuts 'relatively soon'

WASHINGTON (Reuters) - The Federal Reserve kept interest rates unchanged on Wednesday and said it expected to start winding down its massive holdings of bonds "relatively soon" in a sign of confidence in the U.S. economy.

iRobot shares surge on strong sales of Roomba vacuum cleaners

SAN FRANCISCO (Reuters) - Shares in iRobot Corp jumped 23 percent to a record high on Wednesday after the Roomba robotic vacuum maker posted better-than-expected quarterly results and said it was buying its largest European distributor.