Client Login




  • Tightening polls in the U.S. presidential race continued to steer market sentiment.
  • Haven assets rise as investors wait for an interest rate decision from the Federal Reserve.
  • The Fed voted 7-3 in September to keep rates unchanged in a range between 0.25% and 0.5%.
  • Alibaba’s second-quarter revenue beat estimates.


Valeant, in Push for Cash, Looks to Sell Stomach-Drug Business


  • Valeant is in advanced talks to sell a big stomach-drug business to Japan’s Takeda for about $10 billion, a move seen easing pressure on Valeant over its hefty debt load.
  • The companies could reach a deal for Salix, which Valeant bought just a year-and-a-half ago, in the coming weeks.
  • There is another unnamed potential bidder in the mix, according to a person familiar with the matter.
  • The purchase price would include about $8.5 billion in cash and future royalty payments to Valeant, the people said.

Alibaba Results Top Views as User Base Grows

  • Alibaba reported profit fell 66% to 7.62 billion yuan ($1.14 billion) from 22.75 billion yuan a year earlier.
  • The year-ago quarter included a noncash revaluation gain of 18.6 million yuan.
  • Revenue rose 55% to 34.29 billion yuan ($5.14 billion).
  • Alibaba reported 439 million annual active buyers, up 14% from a year ago.
  • Mobile monthly active users rose 30% to 450 million.

Time Warner’s Cable and Film Drive Growth; Guidance Raised

  • Time Warner reported a profit of $1.47 billion, up from $1.04 billion a year earlier.
  • Revenue climbed 9.2% to $7.17 billion, topping the $6.98 billion analysts were looking for.

Allergan Cuts Forecast, Initiates Dividend, Expands Buyback  

  • Revenue rose 4.4% to $3.62 billion.
  • For the year, Allergan said it now expects revenue of $14.45 billion to $14.65 billion, down from $14.65 billion to $14.9 billion previously.
  • Allergan also said it would pay an initial quarterly dividend of 70 cents in March 2017.

Gilead Sales of Hepatitis C Drugs Harvoni and Sovaldi Slump under Competitive Pressure

  • Gilead reported Harvoni sales decreased 44% to $1.86 billion, while Sovaldi sales also fell 44% to $825 million.
  • Analysts had expected Harvoni sales of $2.32 billion and Sovaldi sales of $1.06 billion.
  • Overall, Gilead reported a third-quarter profit of $3.33 billion, down from $4.6 billion a year earlier due to acquisition-related impacts, stock-based compensation and other items.
  • Revenue decreased 9.6% to $7.5 billion. Gilead affirmed its 2016 product sales outlook.

Zoetis Raises Annual Guidance on Strong Sales of Allergy Drug

  • Zoetis reported a profit of $239 million, up from $189 million a year prior.
  • Revenue rose 2.2% to $1.24 billion.

Health Insurer Anthem’s Profit Declines as Medical Costs Rise

  • The company said it now expects revenue for 2016 to be about $83.5 billion, compared with its earlier estimate of between $82.5 billion and $83.5 billion.
  • In the latest quarter, total medical enrollment grew 3.1% from to 39.9 million.
  • The company posted a profit of $617.8 million, down from $654.8 million a year earlier.
  • Revenue climbed 7.5% to $21.4 billion.

Yelp leads legacy web businesses in staging a comeback

  • Yelp reported a surprise profit, marking the highest adjusted EBITDA in the company’s history.

Vulcan Materials Revenue Falls as Wet Weather Affects Shipments

  • But the construction-materials company’s profit rose as margins expanded.
  • Vulcan posted a profit of $139.8 million, up from $123.8 million a year ago.
  • Revenue fell 2.9% to $1.01 billion.

Tesla obliged to pay $1.7 billion to Panasonic for gigafactory cells

  • Panasonic, Tesla’s longstanding battery partner, agreed in 2014 to invest in equipment, machinery and other manufacturing tools at the gigafactory, which will make cylindrical lithium-ion cells for Tesla’s cars.

Chipmaker Broadcom to buy network gear maker Brocade for $5.5 billion

  • Singapore-based Broadcom, formerly Avago Technologies, is known for its connectivity chips while California-based Brocade makes networking hardware, software and storage products.

Ford’s U.S. vehicle sales dip 11.7 percent in October

  • October vehicle sales in the United States fell to 188,813 from 213,938 a year earlier.

Chief Who Guided Herbalife through Troubles Will Step Down

  • Michael O. Johnson has weathered a number of prominent struggles, including a bruising battle with the hedge fund manager William A. Ackman and a settlement with government regulators over the nutritional supplement maker’s business practices.
  • Now Mr. Johnson is paving the way to step down as chief executive.
  • He will be succeed by Richard P. Goudis, a longtime lieutenant who is the company’s chief operating officer.

The Lockheed F-35 Needs another Half Billion Dollars

  • The F-35 program office made the request for more money to complete development, which is supposed to be in its last stretch after 15 years.
  • The call for more money comes as the Pentagon’s chief weapons tester has issued a fresh warning that the aircraft, projected to cost $379 billion for a fleet of 2,443 U.S. planes, is far from showing it has full combat capability.

Back to Top


ADP Private Payrolls Add 147,000 Workers in October

  • Economists had expected an increase of 170,000. The September total was revised to 202,000 from 154,000.

U.S. mortgage application activity falls to five-month low

  • Mortgage market index fell 1.2% to 486.2, which was the lowest level since the week of May 27.
  • Interest rates on 30-year fixed-rate mortgages, which are the most widely held type of U.S. home loans, averaged 3.75% in the latest week, matching the level last seen in June.

Back to Top


Airbus expects to sell around 670 jets in 2016

  • Airbus officially targets more than 650 commercial deliveries, but the company’s finance director last week told analysts that it actually would deliver more than 670.
  • Airbus posted 566 gross orders between January and September.

Maersk Shares Sink After Profit Hit by Weak Freight Rates, Oil Prices

  • Danish shipping-and-oil giant posts 43% fall in third-quarter profit.
  • Net profit dropped to $429 million from $755 million a year earlier.
  • Revenue declined 9% to $9.18 billion.

Back to Top


CREDIT: Lewis, Samuel. “A map of Lewis and Clark's track across the western portion of North America, from the Mississippi to the Pacific Ocean : by order of the executive of the United States in 1804, 5 & 6,” 1814. Geography and Map Division, Library of Congress. Call Number G4126.S12 1814 .L41 Vault.

Map of Lewis and Clark’s expedition

  • North Dakota and South Dakota became the 39th and 40th states, respectively (1889)

Back to Top

This information has been prepared from sources believed to be reliable, but no representation is being made as to its accuracy or completeness. The information provided should be used only as general information and is not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in the material may not develop as predicted. All indices, such as the S&P 500, are unmanaged and may not be invested into directly. Sources: Reuters, Bloomberg, Wall Street Journal.

Content posted by third parties on this site is screened in order to protect clients’ privacy and comply with regulatory requirements. Content containing sensitive personal information, inappropriate language, information about specific investments, misleading information, information about other companies or websites, or information related to litigation will be removed. Content posted by third-parties on this site remains the responsibility of the party posting the content and is not adopted or endorsed by Pence Wealth Management or LPL Financial. Any opinions or statements posted by third parties are their own and may not be representative of the experience of others and are not indicative of future performance or success. Third party content on this site does not reflect the views of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.

, , ,

Comments are closed.

All Financial Consultants at Pence Wealth Management are Registered Representatives with, and securities and Advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA & SIPC. Financial Planning offered through Pence Wealth Management, a Registered Investment Advisor and separate entity from LPL Financial. The LPL Financial representative associated with this website may only discuss and/or transact securities business with residents of the following states: Alaska (AK), Alabama (AL), Arkansas (AR), Arizona (AZ), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Kansas (KS), Kentucky (KY), Louisiana (LA), Massachusetts (MA), Michigan (MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV),

New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Texas (TX), Utah (UT), Virginia (VA), Washington (WA), Wyoming (WY), Washington (DC)

Laila Marshall-Pence CA Insurance Lic# 0545421