NEW YORK (TheStreet) -- The Spanish economy
expanded for the ninth straight quarter, but the pace of growth slowed down, data show. GDP expanded by 0.8% in the third quarter, down from the previous quarter's 1%. Record spending by tourists, up more than 6% in the first nine months of the year from the same period a year ago, helped boost growth. Spain holds general elections in December.
- Express Scripts (ESRX) and CVS Caremark (CVS) stopped doing business with Philidor, the pharmacy controlled by Valeant (VRX), sending Valeant's shares almost 15% lower in after-hours trading.
- Royal Bank of Scotland (RBS) posted a profit of 952 million pounds ($1.45 billion) in the third quarter despite litigation charges. The result beats analysts' expectations of a loss of 180 million pounds and is up 6% from the same period last year.
- Consumer confidence fell to a four-month low in the U.K. in October, market research firm GfK said. The GfK indicator, which measures a mix of households' views on their personal financial situation and their outlook for the economy, touched a 15-year high in June and August, but the decline since then has been the sharpest in four years.
- Airbus (EADSY) raised the production target for its most popular jet, the A320, by 20% to a record 60 planes a month in 2019 and said the industry was in rude health, as it reported better than expected profit.