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FMC Corp. shares dropped in the extended session Monday after the chemical company lowered its outlook and announced layoffs because of a rapid devaluation of the Brazilian real. FMC shares fell 11% to $33.25. The company forecast earnings of 38 cents a share for the third quarter, and $2.35 to $2.45 a share for the year. Analysts surveyed by FactSet had estimated 64 cents a share for the third quarter, and $3.03 a share for the year. FMC said it expects to cut 800 to 850 jobs. The company has about 7,000 employees.

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From:: Stock Market News

Barclays PLC plans to name former J.P. Morgan Chase investment banker Jes Staley as its new chief executive, the Financial Times reportedlate Monday. The appointment of Staley is expected to be announced in the next few weeks, subject to regulator approval, FT reported, citing sources close to the matter.

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From:: Stock Market News

WASHINGTON (MarketWatch) – The risks to the U.S. economy are tilted to the downside, making it important the recovery is nurtured and interest rates are not raised “prematurely,” said Federal Reserve Governor Lael Brainard, on Monday. In a speech in Washington to the National Association for Business Economics, Brainard said there was a risk-management argument to a policy of “watching and waiting.” While the Fed has the tools to combat an inflation shock if it emerges, the Fed can’t do much to support the U.S. economy if international “cross currents” weigh on demand given that interest rates are already at zero, she said. The Fed governor refused to discuss the timing of when the Fed would hike rates, but her comments suggest that she likely is in the minority of Fed officials who do not see a rate hike in 2015 according to projections released at the September policy meeting. According to the “dot plot” released after the September policy meeting, four Fed officials did not think the Fed would raise rates this year while 13 others thought a move could happen in either October or December.

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From:: Stock Market News

Ryder System Inc. shares declined in the extended session Monday after the truck rental company cut their profit outlook for the third quarter and for the year. Ryder shares fell 6% to $71.10. The company expects third-quarter earnings of $1.72 to $1.74 a share, down from a range of $1.82 to $1.87 a share. For the year, Ryder lowered expected earnings to a range of $6.17 to $6.29 a share, from a previous forecast of $6.45 to $6.55 a share. Analysts surveyed by FactSet had estimated earnings of $1.86 a share for the third quarter, and $6.49 a share for the year.

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From:: Stock Market News

Fortress Investment Group LLC will close its flagship hedge fund due to sizable losses and withdrawals, The Wall Street Journal reported, citing people familiar with the matter. Michael Novogratz, who managed the fund, will also leave Fortress, the newspaper said. The fund, launched in 2002, is down 17.5% year to date, much worse than the average 0.6% loss for other macro hedge funds, according to the Journal.

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From:: Stock Market News

Cartus Corporation recently announced that it has expanded its strategic alliance with Learnship, an innovative provider of online language training based in Germany with clients worldwide. Together, Learnship and Cartus are helping transform the way companies offer language training and how their employees access it worldwide. This strategic alliance makes Cartus’ existing high-quality, in-person training […] …read more

From:: Real Estate News

Etsy Inc.’s stock tumbled 9.6% in afternoon trade Monday, putting on track to close at the lowest price since going public on April 16, after analyst James Cakmak at Monness Crespi Hardt slapped a sell rating on the online craft marketplace because of concerns over competition from Amazon.com , rising marketing costs and the large supply of shares that will become available for sale. He set his stock price target at $10, which is 20% below current levels, and 38% below its initial public offering price of $16. Cakmak said three phases of post-IPO lock-up agreements are set to expire between now and April 2016, representing about 90% of the shares outstanding. He said the cost of acquiring buyers is rising, meaning what the company spends on marketing may have to rise faster than expected to re-accelerate customer growth. “While we are fans of the Etsy story, we believe near-term risks may help facilitate entry into the shares at a more favorable time when the risk-reward tradeoff tilts back toward the latter,” Cakmak wrote in a note to clients. The stock has tumbled 24% over the past three months, while the S&P 500 has lost 7.1%.

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From:: Stock Market News

Oil futures settled sharply lower Monday, reversing a portion of last week’s sharp rebound after data showed the Organization of the Petroleum Exporting Countries further increased output in September. Nymex WTI crude for November delivery fell $2.53, or 5.1%, to close at $47.10 a barrel. The contract ended Friday at its highest level since July 21.

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From:: Stock Market News

Shares of Electronic Arts Inc. jumped Monday on the back of strong interest in its new videogame “Star Wars Battlefront.” EA launched the beta version of the game last week and had to open more servers to accommodate demand. EA is currently accepting pre-orders for the multiplayer game, which is due for release on Nov. 17. EA shares rallied 4.6% to $67.99, bringing its year-to-date gains to 45%.

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From:: Stock Market News

Gold futures finished higher on Monday, building on the prior week’s healthy gains that came amid bets for a further delay in U.S. interest-rate hikes. Gold for December delivery on Comex (s: GCZ5) picked up $8.60, or 0.7%, to settle at $1,164.50 an ounce, marking the highest close for a most-active contract since July 6, when gold ended at $1,173.20 an ounce, according to FactSet. The move higher for gold comes as metals broadly enjoyed a rebound amid news that the world’s second-largest economy, China, is looking to implement monetary stimulus that might help mitigate a slowdown in the country–the biggest importers of commodities.

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From:: Stock Market News