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Stocks mixed, Starbucks' massive plans for China

Wall Street started the day mixed. A rise in oil prices helped lift energy shares and better-than-expected results from Morgan Stanley gave a lift to the financial sector. But technology shares were under pressure after Intel’s disappointing outlook.

Stocks to watch

Morgan Stanley (MS) joined the bank earnings party. The Wall Street firm reported a beat on both its top and bottom lines for the quarter ending September 30th. Profit jumped 57% from a year ago, driven by a rise in trading revenue.

Intel (INTC) warned that sales for the current quarter may miss analysts’ estimates despite reporting earnings and revenue that topped Wall Street estimates in the third quarter. Revenue and profit rose from a year ago, thanks to improving demand for PCs and growth in Intel’s data center and cloud businesses.

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Yahoo (YHOO), parent company of Yahoo Finance, came out with mixed quarterly results after the close yesterday. News of the company’s massive data hack didn’t appear to scare away users in the third quarter. Yahoo posted better-than-expected earnings for the third quarter. Overall revenue matched estimates, while core revenue fell 14% from a year ago. Analysts were divided on whether the results quelled concerns about whether the deal between Verizon (VZ) and Yahoo would still go through.

Housing data

On the economic front, the Commerce Department reported that housing fell 9% last month, while building permits jumped 6.3%

Starbucks bets on China

Starbucks (SBUX) is boosting its bet on China, saying it plans to have 5,000 stores there in the next five years, more than double the current number. And Starbucks named its first CEO for China, promoting Belinda Wong from president. She’s helped boost Starbucks’ footprint in China from 400 stores in 2011 to the 2,300 it has there now. Is China’s economic growth a concern?

Twitter not on the list

Hacked emails from former Secretary of State Colin Powell reveal new information about Salesforce.com (CRM) and its interest—or lack of interest—in buying Twitter (TWTR). Powell is on the Salesforce board of directors, and back in May received a list of 14 possible acquisition targets, according to the Wall Street Journal. Twitter didn’t make the cut, but why?

New Apple Macs are coming: report

Apple (AAPL) is reportedly going to introduce new Mac computers this month. The tech site Recode says Apple will unveil the new Macs at an event on October 27. The Mac upgrades will be the first since 2015 (except for the 12-inch MacBook getting a new rose gold finish and slightly faster processors in April.) Why is this happening now?