Amazon, Apple, Google, Boeing and Oil Prices - 5 Things You Must Know

Here are five things you must know for Tuesday, Nov. 13:

1. -- Stocks Rebound, Oil Prices Fall for a 12th Session

U.S. stock futures rose on Tuesday, Nov. 13, with Wall Street rebounding from the previous session's sharp selloff on reports of progress in U.S.-China trade talks.

Contracts tied to the Dow Jones Industrial Average gained 139 points, futures for the S&P 500 were up 17 points, and Nasdaq futures rose 58.25 points.

Stocks slid on Monday, Nov. 12, as a decline in technology shares pulled equities sharply lower. The Dow lost more than 600 points and the Nasdaq slumped nearly 2.8%. The S&P 500 lost 2%. All three benchmarks suffered their worst day since Oct. 24.

The South China Morning Post reported Tuesday that Beijing's chief trade negotiator, Liu He, will travel to Washington as part of a mission to set up talks between Donald Trump and Chinese President Xi Jinping later this month at the G-20 Summit in Argentina.

However, another notable slide in global oil prices, triggered by renewed criticism for both Saudi Arabia and OPEC from Trump on Monday, kept investors on edge. Oil prices on Tuesday were falling for a 12th consecutive session, the longest losing streak on record. The declines were prompted by Trump who tweeted that oil "should be much lower based on supply" just hours after Saudi Arabia said it would reduce its export pace in December by 500,000 barrels a day in order to address a global supply glut.

Home Depot Inc. (HD)  posted stronger-than-expected third-quarter earnings and boosted its full-year profit guidance as the world's largest home-improvement retailer saw solid same-store sales growth in the United States despite a slowing housing market.

Home Depot said earnings for the three months ended in September were $2.51 a share, topping analysts' estimates of $2.26, and rose 36.4% from the same period last year. Revenue rose 7.2% to $26.3 billion, narrowly beating the Wall Street consensus. Comparable U.S. same-store sales were up 5.4% while rising 4.8% across all markets.

Home Depot said it now expects full-year earnings of as high as $9.75 a share, up from a prior estimate of $9.42 and analysts' forecasts of $9.55.

The stock rose 1.5% in premarket trading.

Tyson Foods Inc. (TSN)   posted fiscal fourth-quarter earnings of $1.58 a share, beating estimates of $1.33. The stock fell 2.3%, however, after the meat processor said it expects fiscal 2019 adjusted earnings of $5.75 to $6.10 a share; analysts were expecting $6.21. 

2. -- Apple Tries to Recover From Sharp Slide

Apple Inc. (AAPL)  was down 0.5% in premarket trading on Tuesday after tumbling more than 5% on Monday following a profit warning from a key supplier, increasing investor concerns that iPhone demand may be waning.

While it didn't mention Apple by name, optical component maker Lumentum Holdings Inc.  (LITE) made it pretty clear who was responsible for its large guidance cut

What Lumentum didn't indicate, however, was whether Apple's iPhone XR was solely, or at least mostly responsible, for its revised outlook, or whether the iPhone XS was playing a meaningful role as well, wrote TheStreet's Eric Jhonsa. Lumentum supplies lasers that are used by the iPhone XS and XR's TrueDepth front camera system to power its Face ID facial recognition feature.

However, the timing of Lumentum's announcement, together with some other data points, suggested that demand for the XR played an outsized role, according to Jhonsa. While softer-than-expected iPhone XR demand isn't good news for Apple, it wouldn't be as bad as a shortfall for the costlier iPhone XS and XS Max.

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3. -- Amazon Chooses New York and Northern Virginia for HQ2 Sites - Report

Amazon.com Inc.  (AMZN)  could announce as soon as Tuesday plans to place its second and third headquarters in New York's Long Island City and Arlington, Va.'s Crystal City neighborhoods, according to a published report.

The Wall Street Journal, citing people familiar with the matter, said Amazon also could announce that other cities will receive new Amazon facilities.

After a search that narrowed the prospective locations down to 20 earlier this year, reports emerged last week that Amazon could choose to put its new headquarters in two cities instead of just one.

According to the reports, Amazon was nearing a deal for facilities in Long Island City and Crystal City, and also was in advanced talks with Dallas. Amazon is based in Seattle, and employs about 45,000 people there.

TheStreet's Annie Gaus wrote last week that many had considered the greater Washington D.C. area could be an appealing choice for Amazon because of its proximity to the nation's capital, given potential regulatory challenges, and the availability of skilled technical workers.

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4. -- Google Plans to Double Its Workforce in New York

Alphabet Inc.'s (GOOGL)  Google, meanwhile, plans to double its workforce in New York City to more than 14,000 employees over the next 10 years, according to Alphabet and Google finance chief Ruth Porat.

Speaking at the Journal's WSJ Tech D.Live conference on Monday, Porat said Google was adding talent at a faster pace outside Silicon Valley than at its Mountain View, Calif., headquarters, including at new facilities in Detroit and Los Angeles.

"Not everybody - big surprise - wants to live in Silicon Valley, so we want to make sure we have the opportunity to build vibrant centers across the country," Porat said.

It was reported last week that Google was close to a deal to buy or lease a planned 1.3 million-square-foot office building at St. John's Terminal in New York's  West Village neighborhood.
 
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5. -- Boeing Didn't Warn About Flight-Control Feature on 737

Boeing Co. (BA) withheld information about the potential danger of a new flight-control feature - an automated stall-prevention system - that was suspected of playing a role in a fatal Lion Air jet crash last month, the Journal reported, citing safety experts involved in the investigation, as well as midlevel FAA officials and airline pilots.

Boeing told the Journal it was "taking every measure to fully understand all aspects of this incident, working closely with the investigating team and all regulatory authorities involved." The company added it was "confident in the safety of the 737 MAX."

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