Renewed Consolidation Expected For Malaysia Shares

(RTTNews) – The Malaysia stock market bounced higher again on Tuesday, one session after it halted the two-day winning streak in which it had advanced more than 40 points or 2.7 percent. The Kuala Lumpur Composite Index now rests just above the 1,525-point plateau although it figures to head south again on Wednesday.

The global forecast for the Asian markets is soft on profit taking and on concerns for a COVID-19 vaccine. The European and U.S. markets were down and the Asian bourses figure to follow suit.

The KLCI finished modestly higher on Tuesday following gains from the financials, plantations and glove makers.

For the day, the index rose 6.77 points or 0.45 percent to finish at 1,525.20 after trading between 1,512.46 and 1,527.04. Volume was 5.963 billion shares worth 3.887 billion ringgit. There were 477 gainers and 460 decliners.

Among the actives, Petronas Dagangan surged 2.56 percent, while Malaysia

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UK jobless rate rises by more than expected to 4.5%

Adds details

LONDON, Oct 13 (Reuters)Britain’s unemployment rate rose by more than expected to 4.5% in the three months to August, up from 4.1% in the three months to July, even before the end of the government’s broad coronavirus job protection plan.

Economists polled by Reuters had expected the unemployment rate to rise more slowly to 4.3%.

The number of people in employment fell by 153,000 in the June-to-August period compared with a median forecast for a fall of 30,000 in the Reuters poll.

However, separate tax office data showed the number of staff on company payrolls rose by a monthly 20,000 in September, slightly reducing the total number of job losses by that measure since March to 673,000.

The Bank of England has forecast that the unemployment rate will hit 7.5% by the end of the year as the government scales back its 50 billion-pound ($65

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Alllworth Financial Private Equity Sale Expected Soon


Sarinya Pinngam/Dreamstime

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The sale of Allworth Financial is heating up with a winning bidder expected soon, according to four banking and private-equity executives.

The auction has narrowed to three private equity firms; final bids were due last week, Oct. 6, two of the sources said.

Raymond James

(ticker: RJF) and

Moelis

(MC) are advising on the process, people said.

Allworth, which is owned by Parthenon Capital, is expected to sell for roughly $750 million to $800 million, one of the people said.

Allworth is an RIA aggregator that buys up smaller wealth managers. The Sacramento firm scooped up Capstone Capital in May, Houston Asset Management in April and, in October, it bought Retirement Advisors of America. Allworth, in May, had roughly $8 billion of assets under management, according to a statement.

Parthenon invested in Allworth in 2017 when the firm was known as Hanson McClain Advisors. Parthenon, of

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M.D.C. Holdings: Strong Total Return, Buy This Under The Radar Company With Earnings Expected To Be Strong This Quarter (NYSE:MDC)

M.D.C. Holdings (MDC) is a buy for the total return and dividend income investor. M.D.C. Holdings is among the largest homebuilders in the United States and has an increasing owned backlog of over 17,000 lots to develop and options on another 7,000.

The company has steady growth and has the cash it uses to develop new properties and homes for the average home buyer. The lower interest rates give a tailwind to the company business. The Fed has indicated that they intend to keep interest rates low for at least a year or maybe two.

As I have said before in previous articles.

I use a set of guidelines that I codified over the last few years to review the companies in The Good Business Portfolio (my portfolio) and other companies that I am reviewing. For a complete set of guidelines, please see my article “The Good Business Portfolio: Update

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Pepsi Target at Wall Street High on Expected Wider Margins

PepsiCo  (PEP) – Get Report was upgraded by Citigroup analyst Wendy Nicholson to buy from neutral, as she anticipated wider profit margins at the drinks-and-snacks giant.

Nicholson raised her share-price target to $169 — a Wall Street high, according to Bloomberg — from $148. 

Pepsi shares recently traded at $141.76, up 2.4%. They have risen 3% year to date, while the S&P 500 has gained 9% during that period.

The new target indicates 22% upside for the stock from Friday’s close at $138.44.

Improving operating margins could boost Pepsi shares, Nicholson wrote in a commentary cited by Bloomberg. The stock’s multiple should “expand considerably from current levels,” she said

“Structural issues as a result of its business mix” have pressed the Purchase, N.Y., company’s operating margin thinner than that of giant consumer-staple peers Procter & Gamble  (PG) – Get Report and Coca-Cola  (KO) –

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Wall Street Week Ahead: U.S. Earnings Improvement Expected, but Still a Weak Quarter | Investing News

NEW YORK (Reuters) – While good business news has been in short supply, investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been.

Analysts expect third-quarter S&P 500 earnings to have fallen 21% compared with the year-ago quarter, a big improvement from second-quarter’s 30.6% drop that was most likely the low point for earnings this year because of coronavirus-fueled lockdowns, according to IBES data from Refinitiv.

Earnings reporting will get rolling next week with results from some of the big U.S. banks, likely impacted by near record low interest rates and the pandemic-induced recession. JPMorgan & Co.

and Citigroup

both release results on Tuesday.

(Graphic: S&P 500 Q3 earnings look bad, but not as bad as Q2 – https://graphics.reuters.com/USA-STOCKS/azgvoaoyzvd/chart.png)

Overall, S&P 500 quarterly results tend to beat analysts’ cautious expectations, and they could do

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U.S. earnings improvement expected, but still a weak quarter

By Caroline Valetkevitch

NEW YORK (Reuters) – While good business news has been in short supply, investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been.

Analysts expect third-quarter S&P 500 earnings to have fallen 21% compared with the year-ago quarter, a big improvement from second-quarter’s 30.6% drop that was most likely the low point for earnings this year because of coronavirus-fueled lockdowns, according to IBES data from Refinitiv.

Earnings reporting will get rolling next week with results from some of the big U.S. banks, likely impacted by near record low interest rates and the pandemic-induced recession. JPMorgan & Co. <JPM.N> and Citigroup <C.N> both release results on Tuesday.

(Graphic: S&P 500 Q3 earnings look bad, but not as bad as Q2 – https://graphics.reuters.com/USA-STOCKS/azgvoaoyzvd/chart.png)

Overall, S&P 500 quarterly results tend to beat analysts’ cautious

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Colorado health insurance costs expected to fall on average

DENVER (AP) — Filings with the Colorado Division of Insurance indicate the monthly cost of health insurance bought through the state’s exchange is expected to drop an average of 1.4% next year.

Costs depend on where someone lives, though, The Denver Post reported Thursday. Residents in some counties on the Eastern Plains will see 12% increases in their monthly premiums, while Park County residents could pay 12% less, on average.

In Denver, the average premium will drop 1.2%, though surrounding counties will see even bigger decreases.

The Post reports that the average can conceal significant differences among companies, however, and customers should consider the trade-off between higher premiums and higher out-of-pocket costs.


State officials estimate premiums will be about 20.8% lower than they would have been without the reinsurance program, which acts as a backstop for insurers by reimbursing some of the cost of covering customers with higher medical bills.

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Unemployment Claims Expected to Remain High: Live Updates

Here’s what you need to know:

Credit…Vincent Tullo for The New York Times

Applications for jobless benefits remained high last week, even as the collapse of stimulus talks in Washington raised fears of a new wave of layoffs.

More than 804,000 Americans filed new claims for state unemployment benefits last week, the Labor Department said Thursday. That is up from 799,000 in the previous week, before accounting for seasonal patterns. Another 464,000 people applied for benefits under the federal Pandemic Unemployment Assistance program, which covers freelancers, self-employed workers and others left out of the regular unemployment system.

For the second week in a row, the reported number will carry a Golden State-size asterisk: California last month announced that it would temporarily stop accepting new unemployment applications while it addresses

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U.S. Q3 GDP Expected To Rise Sharply As Q4 Outlook Dims

The US economy is still on track to post a strong rebound in the upcoming third quarter GDP report, but Q4’s prospects appear to be fading, according to recent nowcasts compiled by CapitalSpectator.com and analysis by economists.

First the good news. The Bureau of Economic Analysis on Oct. 29 is projected to report that Q3 GDP rose 20.3% (seasonally adjusted annual rate), based on the median nowcast. Although that’s still well below the 31.4% collapse in Q2 (deepest on record), a 20% increase in output would mark the biggest quarterly rise since the dataset’s start in 1947.

Note, however, that there’s a wide range of Q3 estimates for the individual nowcasts. At the leading edge of optimism: Atlanta Fed’s GDPNow model, which is currently projecting a stunning 35.3% increase in real growth (as of Oct. 6), a growth estimate that exceeds the rate of Q2’s decline (although it would still

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