wiar 01-17-18

Mary FanslauWhat I Am Reading

Jan 17 (Wednesday)

Markets
Dow Industrials Cross 26000 for First Time as Earnings Season Ramps Up (W)
Behind Roaring Stocks Are Profit Upgrades of Unprecedented Size (B)

US
Older Workers Account for All Net Job Growth Since 2000 (FRB-SL)

Europe
SPD failure to deliver healthcare reform riles party (FT)
Europe’s biggest test will come in Poland (FT)
Greece’s Parliament Votes on Another Bailout Reform Package (W)
EU wants all plastic waste recyclable by 2030 (FT)

China
China’s Hot Housing Market Begins to Cool (W)

US tax reform
Why New Tax Law Cost Citigroup, GM $29 Billion (W)
Big pharma is getting ready to spend tax reform dollars on big deals (BI)

US politics
Under Trump, the Business World Notches a Net Success (W)
Cuomo Seeks New York Tax Revisions to Thwart Federal Changes (B)
Trump Passes Cognitive Screen And Is ‘Fit for Duty,’ Doctor Says (B)

Geopolitics & trade
Battle Stations: U.S. and China Prepare for Trade Clash of the Titans (W)
North Korean ICBM Seen From Hong Kong-Bound Flight, Tillerson Says (B)
U.S. Plans New Nuclear Weapons (W)

Industries & companies
Airlines: Boeing Analysts Play Catch Up to the Stock’s Rally (B)
Energy: BP’s Deepwater Horizon Bill Grows by $1.7 Billion (W)
FANGs: Want to Break Up Facebook and the Tech Giants? Here’s the Argument (W)
Financials: Citi posts strong earnings, despite taking $22 billion hit from tax reform (BI)
Industrials: GE May Break Itself Up, CEO Says (W)
Industrials: GE’s Latest Blast of Bad News Has Wall Street Bracing for More (B)
Pharma: Big Pharma efforts on Alzheimer’s tested by Pfizer exit (FT)
Railroads: Railroad operator CSX posts 6 percent drop in quarterly revenue (BI)
Telecom: Ericsson, Humbled by Huawei, Takes Another $1.8 Billion in Charges (W)

Corporate finance
Energizer to Buy Spectrum’s Batteries and Lighting Unit for $2 Billion (W)

Cryptocurrency
Bitcoin Plunges 20% (W)
Ethereum drops below $1,000 amid crypto bloodbath (BI)
A Wall Street consultancy eviscerated crypto in a massive report — and it should strike fear into the heart of every bitcoin bull (BI)
New Cyberattack on Cryptocurrency Investors Came From North Korea, Report Says (W)

Offbeat
BlackRock to Companies: Pay Attention to ‘Societal Impact’ (W)
A quant analyst took 6 months off work to deal with cancer, and when he returned sent this 4,000-word note to clients questioning the purpose of the financial sector (BI)