Stocks stumble to more records on conflicting trade reports. China's trade with US shrinks in October despite optimism. Gap CEO Art Peck steps down amid slumping sales, stock price.
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The Early Bird Newsletter

Friday, November 8th

S and P pricesDow pricesQQQ prices
John Panin
Politics

Stocks stumble to more records on conflicting trade reports

The S&P 500 pushed to another record Thursday after China's commerce ministry said that both sides in the U.S.-China trade war had agreed to roll back tariffs on each other's goods if talks continue to progress

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Gao Feng
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China's trade with US shrinks in October despite optimism

U.S.-Chinese trade contracted again in October, despite optimism about possible progress in talks aimed at ending a tariff war that threatens global economic growth. Chinese imports of U.S. goods fell 14.3% from a year earlier to $9.4 billion, customs data showed Friday. Exports to th...

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Art Peck
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Gap CEO Art Peck steps down amid slumping sales, stock price

Gap announced Thursday that CEO Art Peck is stepping down as the company struggles to turn around a long-standing sales slump. The San Francisco-based retailer also lowered its earnings outlook for the year as sales at the Gap, Banana Republic and Old Navy fell in the most recent quar...

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PG & E Truck
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PG&E falls into deeper hole in 3Q with $1.6 billion loss

Pacific Gas & Electric reported another huge loss on Thursday as the fallout from catastrophic wildfires blamed on its outdated transmission lines drive the bankrupt utility into a deeper hole. The company estimated it's facing a bill of more than $6 billion this year alone to pay...

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Chinese company in vaccine scandal declared bankrupt
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Chinese company in vaccine scandal declared bankrupt

A Chinese maker of rabies vaccine that was fined 9.1 billion yuan ($1.3 billion) in a quality scandal that set off a crackdown on the industry said Friday it has been declared bankrupt. Changchun Changsheng Life Sciences Ltd., which lost its production licenses last year, said in a st...

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'The Lion King,' 'Toy Story 4' help boost Disney's profit
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'The Lion King,' 'Toy Story 4' help boost Disney's profit

Walt Disney Co. on Thursday reported fiscal fourth-quarter net income that beat Wall Street's expectations thanks to strong theater revenue from films like "The Lion King" and "Toy Story 4," along with higher parks revenue. The results came as Disney readies for the debut Tuesday of i...

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Consumer borrowing rises, led by more auto and student loans
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Consumer borrowing rises, led by more auto and student loans

Consumer borrowing rose in September at a modest pace, driven by more student and auto loans, though a category that mostly includes credit cards fell for the second straight month. The Federal Reserve said Thursday that overall consumer borrowing increased 2.8% to $4.15 trillion. A c...

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Japanese automaker Honda cuts profit outlook as sales slip
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Japanese automaker Honda cuts profit outlook as sales slip

Honda has become the latest automaker to report weaker earnings as global demand softens. The company said Friday that its profit in the July-September fell 6.7% from a year earlier to 196.5 billion yen ($1.8 billion) as vehicle and motorcycle sales slipped. An unfavora...

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Officials responding to oil spill from cargo ship in Hawaii
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Officials responding to oil spill from cargo ship in Hawaii

The U.S. Coast Guard says a cargo ship has spilled oil into Honolulu Harbor. Coast Guard Petty Officer 2nd Class James Connor says local and federal officials are working on cleanup Thursday after a 433-foot (132-meter) container ship spilled oil a day earlier during a fueling operati...

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Google digitizes artworks in Puerto Rico for 1st time
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Google digitizes artworks in Puerto Rico for 1st time

The 1953 painting by Rafael Tufiño Figueroa features his mother with a red scarf on her head, a determined look on her face and heavy expression lines, a depiction of a working-class woman that broke from conventional portraits of the time that focused largely on wealthy men. "Goyita"...

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House Democrat criticizes Mississippi chicken plant raids
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House Democrat criticizes Mississippi chicken plant raids

A U.S. House committee chairman says it's "disappointing" that President Donald Trump's administration is selectively enforcing laws to apprehend immigrant workers who are in the U.S. illegally but not prosecute employers

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Board of Google parent investigating sexual misconduct cases
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Board of Google parent investigating sexual misconduct cases

The board at Google parent Alphabet is investigating claims of sexual misconduct made against executives and how the company handled them. Multiple reports say the company has hired an outside firm to examine how its executives handled claims of sexual misconduct. The i...

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Exxon denies that it misled investors on climate risks
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Exxon denies that it misled investors on climate risks

Climate change may be the defining risk for oil and gas companies in coming decades, and attorneys for New York state are saying Exxon Mobil misled investors about how it was handling that risk. The state made closing arguments Thursday in a case that accused the energy giant of downp...

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The Early Bird Stock Of The Day

TransDigm Group Incorporated

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The company operates in three segments: Power & Control, Airframe, and Non-aviation. The Power & Control segment offers mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, databus and power controls, hoists, winches and lifting devices, and cargo loading and handling systems. It serves engine and power system and subsystem suppliers, airlines, third party maintenance suppliers, military buying agencies, and repair depots. The Airframe segment provides engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, aircraft audio systems, specialized lavatory components, seat belts and safety restraints, engineered interior surfaces and related components, lighting and control technology, military personnel parachutes, and cargo delivery systems. It serves airframe manufacturers, cabin system and subsystem suppliers, airlines, third party maintenance suppliers, military buying agencies, and repair depots. The Non-aviation segment offers seat belts and safety restraints for ground transportation applications, mechanical/electro-mechanical actuators and controls for space applications, and refueling systems for heavy equipment. It serves off-road vehicle and subsystem suppliers, child restraint system suppliers, and satellite and space system suppliers; and manufacturers of heavy equipment. TransDigm Group Incorporated was founded in 1993 and is headquartered in Cleveland, Ohio.

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