Wednesday, January 17, 2018
What to watch today
On Wednesday, the economics calendar will bring investors the December reading on industrial production from the Fed and the January reading on homebuilder sentiment from the National Association of Homebuilders in the morning. And in the afternoon, the latest Beige Book — a collection of economic anecdotes from each of the Fed’s 12 districts — will be released.
The earnings calendar will feature a few major financial names, with Bank of America (BAC) and Goldman Sachs (GS) both reporting earnings in the morning. Also reporting results will be Charles Schwab (SCHW) and Kinder Morgan (KMI).
House GOP bid to avert shutdown gains steam as deadline nears: House Republicans are coalescing around a plan to try and force the Senate to accept a short-term spending bill this week that doesn’t address immigration issues and other demands from Democrats in order to avoid a government shutdown after Jan. 19. [Bloomberg]
Miramax bid for Weinstein Co. complicates sale process: An attempt by Qatar-owned film company Miramax to buy Weinstein Co. has complicated plans to sell the studio to a group of investors led by former Obama administration official Maria Contreras-Sweet, the Los Angeles Times reported on Tuesday. [Reuters]
Celgene in talks to buy Juno Therapeutics: Celgene Corp. (CEG) is in talks to buy biotechnology company Juno Therapeutics Inc. (JUNO), just days after announcing another major deal to bolster its portfolio of blood-cancer drugs. The talks could produce a deal in the coming weeks, assuming they don’t fall apart, people familiar with the matter said. Terms of the possible deal couldn’t be learned. Juno had a market value of about $5.5 billion as of Tuesday afternoon. [The Wall Street Journal]
YouTube again revises rules to protect advertisers: Alphabet Inc’s Google (GOOG, GOOGL) is making its second attempt in less than a year to protect advertisers on its YouTube user channels from being associated with videos featuring violence, gore or bad language. Under the new standards, Google will remove advertising from a “significant” number of YouTube channels, 99% of which generated less than $100 from ads in the last year. [Reuters]
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