Verizon Shares Jump on Subscriber Growth Forecast; UAW Workers Strike at Ram 1500 Plant
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Verizon stock surged after predicting subscriber gains next quarter. Lower bond yields make its dividend more attractive.
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About 6,800 UAW workers will strike at Ram 1500 pickup site. Analysts estimate each week of strike could mean 8,000 fewer units, $400M less revenue.
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GE boosted forecast, GM earnings topped estimates but withdrew guidance, Verizon raised cash flow outlook, 3M posted 2nd straight earnings beat.
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European stocks rose as investors stayed upbeat despite Middle East uncertainty. Banks fell after Barclays cut UK margin guidance.
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Fed expected to remain hawkish. Dollar gained on disappointing Eurozone PMIs. Treasury yields resumed climb on Fed expectations.