Yahoo Finance Morning Brief: Barnes & Noble shares surge 20% on strategic review
Thursday, October 4, 2018
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What to watch today
The economic data calendar will bring investors the weekly report on initial jobless claims, the August reading on factory orders, and the final look at durable goods orders in August.
On Thursday, Toyota (TM) and SoftBank announced a new partnership to develop self-driving car services. The partnership shows that even big well-funded players fear being left behind in the race to develop autonomous and connected cars.
The earnings calendar will be highlighted by results from Costco (COST), which is set to report earnings after the market close with investors looking for same-store sales at the wholesale club to rise 8.6% during the third quarter.
Top news
Barnes & Noble shares surge on strategic review: Shares of Barnes & Noble (BKS) jumped more than 20% on Wednesday after it said it is naming a special committee to review bids for the company. The retailer said in a statement it has received “expressions of interest” from “multiple parties,” including its Chairman Leonard Riggio, who founded the company in 1965. [CNBC]
China to raise billions in rare U.S. dollar debt: China is planning to sell $3 billion in U.S. dollar bonds this month, wooing foreign investors at a time of heightened trade tensions with the U.S. and turbulence in its own stock market. [The Wall Street Journal]
Pot producer Tilray seeks to raise $400M from debt sale: Nanaimo, British Columbia-based Tilray (TLRY), which has a valuation of about $15 billion, is planning to use the proceeds for working capital, future acquisitions and to repay the $9.1 million existing mortgage on its BC production facility, the company said. [Bloomberg]
FedEx leans on bonuses to keep pilots from retiring: With the peak holiday shipping season fast-approaching, global package delivery giant FedEx Corp. (FDX) is paying retirement-age pilots bonuses of $40,000 – and potentially as much as $110,000 – to keep them flying into next year. [Reuters]
Some Amazon employees say they will make less after the raise: Amazon’s decision to raise workers’ minimum wage to $15 per hour was welcome news. But for some Amazon (AMZN) employees, the excitement didn’t last very long as they learned that existing financial incentives and bonus programs, including stock, that usually boost paychecks will be eliminated starting Nov. 1. [Yahoo Finance]
Yahoo Finance Originals
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Women contribute 10% more work than men: new survey
A bottle of ‘The Holy Grail of Whisky’ sold for a record $1.1 million
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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.
