THE STOCK TO BUY



Everyday PremierCity publishes its choice picking one sole security to buy or to sell. The decision results from the consensus made of the aggregation of multiple choices added from the 100 most important editing financial reviews.

Today the selected stock is ****



DATAS OF THE DAY


Germany and France draw up no-deal Brexit plans

Angela Merkel tells German MPs they must ‘prepare for every scenario’ of UK’s exit

Germany and France are starting to step up their preparations for a no-deal Brexit even though both publicly insist an agreement with the UK over the terms of its departure from the EU can still be achieved. While there was there was still a chance for a deal, it was “only fitting as a responsible and forward-thinking government leadership that we prepare for every scenario”, the German chancellor told MPs in Berlin. “That includes the possibility of Britain leaving the EU without an agreement.”

France has published a draft bill that would allow the government to introduce new legal measures to avoid or mitigate the consequences of a hard Brexit by emergency decree, as opposed to parliamentary vote, within 12 months of the law being passed. Angela Merkel revealed for the first time on Wednesday that Germany was drawing up contingency plans, saying the government had started making “suitable preparations” for the possibility of Britain leaving with no accord.

http://www.theguardian.com

Major Facebook investors want Mark Zuckerberg out as chairman

Zuckerberg holds absolute control of the board with a majority of the voting power

Major Facebook investors, including public pension funds and state officials, are pushing for Mark Zuckerberg‘s ouster as chairman of the company’s board.

The proposal is largely symbolic, since Zuckerberg holds absolute control of the board. But it comes at a difficult time for Facebook, as security breaches plague the company and spur questions around corporate oversight.

“We need Facebook’s insular boardroom to make a serious commitment to addressing real risks — reputational, regulatory, and the risk to our democracy — that impact the company, its share owners, and ultimately the hard-earned pensions of thousands of New York City workers,” New York City Comptroller Scott Stringer said in a statement to CNBC.

http://www.cnbc.com

Netflix now has more than 137 million subscribers

The company’s stock surged nearly 14% after hours

Netflix added nearly 7 million new subscribers in its most recent quarter, about 2 million more than the streaming company expected. Netflix (NFLX) now has more than 137 million people tuning in around the world. The company’s stock surged nearly 14% after hours. That’s welcome news for a company that had been hammered by shareholders after July’s lackluster earnings and last week’s big tech sell-off. Beating its own subscriber expectations is a big win for the company. Last quarter the company said that it gained about 1 million fewer customers than it expected, sending its stock plunging. 

Netflix expects to add another 9.4 million subscribers in the last part of this year.
During an investor presentation Tuesday, CEO Reed Hastings attributed the discrepancy between the company’s subscriber estimates and its actual totals to a “forecasting” issue, as opposed to anything changing with the business. He said that in the future, the company will focus on paid subscribers — right now, its overall totals include people who are using free trials. Without those trials, Netflix has about 130 million people who pay for a subscription.
http://www.cnn.com

Paul Allen, co-founder of Microsoft, is dead at 65

Cancer of the lymphatic system

Paul Allen, the billionaire co-founder of Microsoft, died Monday. He was an investor, entrepreneur and philanthropist who influenced many aspects of modern life — from technology and science to sports and music.

Allen was 65, his investment firm Vulcan said in a statement announcing his death. He died in Seattle from complications related to non-Hodgkin’s lymphoma two weeks after Allen said he was being treated for the disease.
Non-Hodgkin’s lymphoma, like the less-common Hodgkin’s disease, is a cancer of the lymphatic system.
http://www.cnn.com

Sears files for bankruptcy

Massive debt load

Sears has filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses. Sears once dominated the American retail landscape. But the big question is whether its shrunken version can be viable or will be forced to go out of business, ending the final chapter for an iconic name that originated more than a century ago.

Sears filed in U.S. Bankruptcy Court in White Plains, N.Y. Sears says it will “close 142 unprofitable stores near the end of the year. Liquidation sales at these stores are expected to begin shortly. This is in addition to the previously announced closure of 46 unprofitable stores that is expected to be completed by November 2018.”

Chairman and CEO Edeard Lampert is giving up his CEO role but will remain as chairman. Three executives will take over the CEO functions for now. The filing came just before Sears would have had to repay $134 million in loans later on Monday.

http://www.cbsnews.com

Two-thirds of the S&P 500 is in a correction

Sell-off worsens

Two-thirds of the stocks in the S&P 500 ended the trading session in correction territory or worse on Wednesday, as a sell-off led by technology names deepened a steep drop for the index in October.

When the dust settled on Wednesday, 332 of the S&P’s 505 components — or 66 percent of the index — had fallen by 10 percent or more from their 52-week highs. The S&P 500 fell 3.3 percent at 2,785 amid fears of rising interest rates and the flight from tech stocks.

There were 190 components in correction territory, meaning they have fallen by 10 to 20 percent from their 52-week highs. The stocks in correction included retail names like Michael Kors, financials such as Citigroup, and tech giants Amazon and Google’s parent Alphabet.

http://www.cnbc.com

Trump criticizes the rise of interest rates

The Federal Reserve has ‘gone crazy’

President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence. “I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. The S&P 500 posted its worst day since February and clinched its first five-day losing streak since 2016.

“Actually, it’s a correction that we’ve been waiting for for a long time, but I really disagree with what the Fed is doing,” the President added. The Fed has raised interest rates three times this year and is largely expected to hike once more before year-end.

http://www.cnbc.com

SoftBank wants a majority stake in WeWork

Softbank ready to pay up to $20 billion

Japan’s SoftBank Group Corp (9984.T) is in discussions to take a majority stake in shared office space provider WeWork Cos, a source familiar with the matter said, a deal that would increase one of its biggest bets on a late-stage U.S. startup. Pricing and other details have yet to be firmed up, the source said, adding that it was not a done deal. A second source also said SoftBank is in talks about a major new investment in WeWork. Both spoke on the condition of anonymity as the details of the talks were private.

The Wall Street Journal reported earlier that SoftBank’s investment could be between $15 billion and $20 billion and would likely come from SoftBank’s Vision Fund.

http://www.reuters.com

IMF Downgrades Outlook For World Economy

Rising interest rates and trade war

The International Monetary Fund is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade.

The IMF said Monday that the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was forecasting for 2018 in July. It slashed its outlook for the 19 countries that use the euro currency and for Central and Eastern Europe, Latin America, the Middle East and Sub-Saharan Africa.

The report comes on the eve of the Oct. 12-14 meetings in Bali, Indonesia, of the IMF and its sister lending organization, the World Bank.

http://www.apnews.com

3.7 percent unemployment rate in US

A 49-year low

For a solid decade after the collapse of Lehman Brothers touched off a global financial crisis, there was good reason to think the U.S. economy remained broken, from skepticism about the health of the labor market to tepid economic growth and the moribund rate of interest paid on U.S. Treasury bonds.

In a heartbeat, that seemed to change this week, adding facts on the ground to Federal Reserve Chairman Jerome Powell’s glowing portrait of a historically rosy and extended period of super-low unemployment, modest inflation and steady growth.

It came through Amazon.com Inc’s (AMZN.O) move to a $15 minimum wage, possibly setting the bar for companies nationwide. It came through a jump in long-term bond yields that signaled faith the gears of growth will remain engaged for a record-long recovery.

http://www.reuters.com

Co-working is just getting started

Investors think highly of buildings that include 15%-30% co-working space

In just the last year, co-working spaces have tripled their share of Manhattan’s office-leasing activity to around 10%, according to real estate brokerage firm Avison Young. Across the country, the number of square feet they occupy has jumped nearly 400% over the last eight years. As the market for flexible and customized offices continues to boom, it’s not just startups and small businesses that stand to benefit. More and more, larger companies that don’t want to be locked into decades-long leases are considering the upsides of flexible spaces.

In August, WeWork launched HQ by WeWork to serve the needs of medium-sized businesses. And other giants (think: Amazon, Verizon, and more) have already begun turning to co-working spaces to house entire divisions of their companies. In 2017, IBM struck a deal with WeWork to occupy its 88 University Place building in Manhattan.

http://www.angel.co

Pivot Bio Secures $70M Investment

The company focuses on nitrogen-producing microbes

Pivot Bio, a synthetic biology company working on nitrogen-producing microbes, announced yesterday that it has completed a Series B round of financing totaling $70 million led by Bill Gates’ innovation investment fund, Breakthrough Ventures.

Breakthrough Ventures is a $1 billion fund with famous investors like Gates and other high-profile billionaires like Jeff Bezos and Richard Branson. The fund focuses on innovation aimed at addressing different areas of environmental concern, with recent investments in a company working to decrease carbon in the concrete industry, a group working on a nuclear-fusion reactor that could produce net-positive energy and, in the agriculture space, the investment in Pivot.

Pivot plans to invest the funding in bringing its first microbial product to market in 2019, but the company also has future plans—exploring new markets like Canada and Brazil, as well as funding research into a seed treatment application and moving beyond just corn to add microbial products for crops like wheat and rice.

http://www.forbes.com

Boris Johnson humiliated Theresa May

Tory members cheered every word

Imagine being Theresa May, at half past 12 this afternoon. Walking, with your party chairman, through the venue of your party conference – when you happen upon a swarm of photographers. But those photographers aren’t here to see you. And nor, not far from the swarm, are the hundreds upon hundreds of your party members, who are currently standing in the most enormous, snaking queue.

The queue isn’t for the main hall, where your ministers are giving speeches to promote your policies. The main hall is practically empty. Your members aren’t interested. They don’t want to see your ministers, or hear about your policies.

http://www.telegraph.co.uk

China will never use its currency as a weapon in the trade war

The trade war between China and the United States is intensifying

Premier Li Keqiang told an audience of global executives and policymakers that China would not weaken the yuan to boost trade with the rest of the world. “China will never go down the path of stimulating exports by devaluing its currency,” Chinese Premier Li Keqiang said Wednesday.

His comments came a day after the United States and China announced that they would impose their biggestrounds of tariffs yet on each other’s exports, starting next week. That brings the value of goods hit by tariffs in the escalating conflict to more than $360 billion. President Donald Trump has threatened to hit another $267 billion of Chinese goods with tariffs.

http://www.cnn.com