| The KUIK Market Update for Monday, October 20: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | (56) | points | 13,321 | 7:22 AM | ||
| S&P500 | Up | 0.2% | percent | 1,891 | 4.84 | ||
| Nasdaq Composite | Up | 0.5% | percent | 4,280 | 24.09 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 2.95 | Annual Yield | ||
| IBM posted sharply lower earnings in its third quarter as sales fell across several divisions and the tech giant unveiled a deal to transfer its semiconductor operations to Globalfoundries. This is the 10th quarter that IBM has not increased revenues. Under the deal with Globalfoundries, IBM will pay the company $1.5 billion to take over chip manufacturing, and it will continue to produce processors used in IBM systems. | |||||||
| In an effort to combat identify theft, President Obama on Friday signed an executive order requiring government-issued credit cards to use “chip-and-pin” technology. The technology is used in Europe and offers better security than the credit cards commonly used in the U.S. Target, Walgreens, Home Depot and Wal-Mart have already commited to the technology and Mastercard and American Express as well. The executive order will also help the Federal Trade Commission create a one-stop source for identity-theft victims and allow investigators to share information with companies of customers who have been harmed. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ibm-to-transfer-chip-ops-as-revenue-drops-again-2014-10-20-74852644 | |||||||
| http://www.marketwatch.com/story/obama-orders-feds-to-adopt-credit-card-technology-limiting-identity-theft-2014-10-17 | |||||||
| For today’s Market Update Report click to listen-> | |||||||