BY THE NUMBERS
IN THE NEWS TODAY
Chinese President Xi Jinping said today in a speech commemorating the 70th anniversary of the Chinese Communist Party’s rule that no force could sway China’s development. Celebrations, which boasted one of Beijing’s largest military parades, are taking place as China faces economic and political challenges from the trade war with the U.S. (CNBC)
* Hong Kong police fire tear gas at protesters on China’s National Day (CNBC)
* WTO lowers global outlook again as trade conflicts persist (Reuters)
President Donald Trump sought help from the Australian prime minister to investigate the origins of former special counsel Robert Mueller’s Russia investigation, NBC News reported. The call to the Australian leader came after AG William Barr in May asked a U.S. attorney to inquire whether the FBI’s investigation into the Trump campaign was properly predicated.
* Trump’s approval rating drops to new low, but most still oppose impeachment: CNBC survey
* Barr personally asked foreign officials to aid inquiry into CIA, FBI activities in 2016 (Washington Post)
* Pompeo was on Trump-Ukraine call at center of impeachment inquiry (NBC News)
The House Intelligence Committee has subpoenaed Trump’s personal attorney Rudy Giuliani for documents as part of its impeachment inquiry into the president. The heads of three House committees yesterday asked for information related to the president’s and his lawyer’s efforts to get Ukraine’s government to investigate the Biden family. (CNBC)
Rep. Chris Collins, R-N.Y., submitted his resignation from Congress on the eve of Tuesday’s scheduled change-of-plea hearing in an ongoing federal insider trading case. Collins’ decision came just hours after documents revealed the House Republican was set to change his plea in the insider trading case that has dogged him for over a year. (CNBC)
Vermont Sen. Bernie Sanders raised $25.3 million in the past three months for his Democratic presidential bid, exceeding the $18 million he raised in each of the previous two quarters this year. Sanders is pulling in the third spot, behind former Vice President Joe Biden and Massachusetts Sen. Elizabeth Warren, in the RealClear Politics’ polling average. (WSJ)
* Mayor Pete Buttigieg’s Q3 funding raising slips to $19.1 million (NY Times)
Amazon (AMZN) is in talks to bring the cashierless technology that runs its Go stores to other retailers like airport shops and movie theaters, CNBC reported. The effort would help Amazon grow its retail presence so the company can lower its reliance on online shopping, but at a faster pace and at lower cost than building its own stores.
Juul Labs announced it will stop supporting a ballot measure to overturn an anti-vaping law in San Francisco, effectively killing the campaign. The nation’s largest maker of e-cigarettes said it will end its support for Proposition C after donating nearly $19 million. (AP)
Walgreens (WBA) joins CVS Health (CVS) in suspending sales of Sanofi’s (SNY) heartburn medication Zantac and other generic ranitidine products while the FDA reviews their safety. The news comes after Valisure, an online pharmacy company, alerted the FDA earlier this month that Zantac includes an impurity that could cause cancer. (CNBC)
STOCKS TO WATCH
Bank of America Merrill Lynch upgraded Philip Morris International (MO) to a buy rating from neutral, saying PMI will “eventually rise above the noise given their lack of U.S. vaping exposure.”
Facebook (FB), Amazon (AMZN) and Alphabet’s (GOOGL) Google face a congressional inquiry on how Big Tech may be damaging the competitive landscape for small businesses, Bloomberg reports.
Endo International (ENDP), Johnson & Johnson (JNJ) and other drugmakers that face litigation over the opioid crisis are exploring a way to settle the cases by participating in Purdue Pharma’s bankruptcy, The Wall Street Journal reports.
AstraZeneca (AZN) is selling the global commercial rights for its drug to treat acid reflux to a German pharmaceutical company for as much as $276 million.
Ford (F) and Mahindra & Mahindra will form a joint venture in India valued at $275 million to develop, market and distribute Ford branded vehicles in the country,
WATERCOOLER
Netflix (NFLX) renewed hit show “Stranger Things” for its fourth season. There’s no word yet on the release date or which cast members are returning to the sci-fi, ’80s-set show. Netflix has also signed the hit show’s creators, Matt and Russ Duffer, a.k.a. The Duffer Brothers, to a multiyear film and series overall deal. (USA Today)
