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Carnival Cruise Line, the largest of Carnival Corp.’s brands, will introduce two ships – Carnival Miracle in spring 2017 and Carnival Splendor in spring 2018 – that will be based in China year round. Carnival Miracle has a guest capacity of 2,124 guests, with a guest-to-crew ratio of nearly two-to-one. Carnival Miracle carries just over 3,000 guests. Details about the ships’ itineraries have not yet been made available. Reservations for Carnival Miracle are expected to open in 2016. The cruise industry has identified China as the next big growth opportunity. Carnival shares are up 18.7% for the year so far. The S&P is up 8% for the same period.

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From:: Stock Market News

IBM Corp. on Wednesday confirmed the purchase of The Weather Company, which includes the Weather Channel and its related technology platforms and sensors, to enhance its cloud ecosystem. Terms of the deal, including the price, were not disclosed, but IBM said the purchase adds to the $3 billion investment IBM committed earlier this year to build out products and services in the Internet of Things. The Weather Company’s cloud-based services handle 26 billion inquiries each day through its mobile app and website, according to IBM. In addition to the increased cloud-servicing capacity, the company plans to use the data provided by The Weather Company’s sensors to boost its analytics offerings for business clients. Shares of IBM rose 1.3% to $139.70 in recent trade. They are down nearly 13% over the last three months, underperforming the Dow Jones Industrial Average, which is flat.

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From:: Stock Market News

U.S. stocks opened slightly higher after two straight days of modest declines as investors braced for the Federal Reserve’s announcement on interest rates. Investors are not anticipating a rate hike during today’s meeting, however, they are hoping to get some indication from the policy makers whether it will happen in December. The S&P 500 opened 4 points, or 0.2%, higher at 2,070. The Dow Jones Industrial Average gained 48 points, or 0.3%, to 17,629 at the open. The Nasdaq Composite began the day up 7 points, or 0.2%, at 5,037.

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From:: Stock Market News

WASHINGTON (MarketWatch) – An early look at U.S. trade patterns in September signals a big drop in the nation’s trade deficit. The trade gap in goods – services are excluded – fell nearly 13% to $58.6 billion in September, the government said Wednesday. The seasonally adjusted deficit in goods had shot up to a revised $67.2 billion in August from $59.1 billion in July. The government will release overall trade numbers for September on next Wednesday, but the size of the trade deficit is generally tied to changes in exports and imports of goods. Trade patterns involving services such as banking and medical advice rarely change much from month to month. The government reported last month that the total U.S. trade deficit in August rose to a five-month high of $48.3 billion, as exports fell to a three-year low. The full September report is likely to show a springback in U.S. exports.

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From:: Stock Market News

AutoNation Inc. agreed to buy 12 stores, including 31 franchises, from Allen Samuels Auto Group, the company said in a release. The deal represents about $800 million in annual sales. The acquired stores are all in Texas markets, including Dallas-Fort Worth, Corpus Christi and Waco. The franchises include Chrysler, Dodge, Chevrolet, Hyundai, Mercedes-Benz, Jeep, Ram, and Sprinter dealerships. Texas will represent about 25% of AutoNation’s total revenue when the deal is complete, with 53 stores, 82 franchises and 5,300 associates. The transaction is expected to close in the first quarter of 2016. Autonation shares are up 1% for the year so far. The S&P is up 0.3% for the same period.

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Mondelez International Inc. said it had net income of $7.3 billion, or $4.46 per share, in the third quarter, up from $902 million, or 53 cents per share for the same period last year. Adjusted earnings were 42 cents per share versus 50 cents per share in 2014. The FactSet consensus was 41 cents. Revenue was $6.8 billion, down 17.8% from $8.3 billion the year prior. The FactSet consensus was $6.8 billion. The company said it repurchased $3.1 billion in shares through the first nine months of 2015 at an average price of $38.69 and paid $736 million in dividends. Mondelez shares are up 28.3% for the year so far. The S&P is up 0.3% for the same period.

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Boston Scientific Corp. shares were up 4% in pre-market trade on Wednesday following its third-quarter earnings report. The biotech company reported a loss of $198 million, or 15 cents per share, compared with last year’s same period income of $43 million, or 3 cents per share. The company posted adjusted earnings per share of 24 cents for the third quarter, compared with 20 cents in prior-year period. The FactSet consensus on EPS was 23 cents. Sales reached $1.88 billion during the quarter, up 2% from last year’s $1.84 billion. FactSet’s sales consensus was $1.86 billion. During the quarter, Boston Scientific received approval from the Food and Drug Administration for a new system to help treat patients with peripheral artery disease, and also closed an acquisition that will strengthen the company’s position in urology and pelvic health. Boston Scientific shares are up nearly 27% in the year to date, outperforming the S&P 500 index, up 0.34%.

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From:: Stock Market News

Walgreens Boots Alliance Inc.’s stock climbed 1.4% in premarket trade Wednesday, after the drugstore chain beat fiscal fourth-quarter profit expectations and announced a deal to buy rival Rite Aid Corp. . For the quarter ended Aug. 31, the company reported earnings of $26 million, or 2 cents a share, compared with a loss of $221 million, or 23 cents a share, in the same period a year ago. Excluding non-recurring items, such as costs associated with the consolidation of Boots Alliance, adjusted earnings per share came to 88 cents, above the FactSet consensus of 81 cents. Revenue rose to $28.52 billion from $19.06 billion, matching the FactSet consensus, with the increase primarily a result of the inclusion of Boots Alliance results. For fiscal 2016, the company said it expects adjusted EPS of $4.25 to $4.55, below the FactSet consensus of $4.56. Walgreens said late Tuesday that it agreed to buy Rite Aid in a deal valued at $17.2 billion. The stock has surged 25% year to date, while the S&P 500 has tacked on 0.3%.

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The Hershey Co. said Wednesday it had net income of $154.8 million, or 70 cents a share, in the third quarter, down from $223.7 million, or $1.00 a share, in the year-earlier period. Adjusted per-share earnings came to $1.17, ahead of the FactSet consensus of $1.13. Sales edged down to $1.961 billion from $1.962 billion, slightly below the FactSet consensus of $1.981 billion. “U.S. net sales were below expectations due to lower than expected candy, mint and gum (CMG) retail takeaway in the third quarter,” Chief Executive John Bilbrey said in a statement. “This softness also impacted broader mainstream snacks, where consumption trends during the quarter were less than the June year-to-date increase.” The company is expecting to increase spending on advertising and marketing in the fourth quarter. It expects sales for the full year to be flat versus 2014, and expects adjusted EPS to come in at the low end of its range at about $4.10. Shares were not yet active in premarket trade, but are down 9% in the year so far, while the S&P 500 has gained 0.3%.

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