Hello friends and Coins2Day readers.
Wall Street stock futures are lower this morning as French police laid siege to an apartment in Paris, reminding everyone what the week’s top story is. The dollar is a little lower against the euro, while crude oil future have edged up to over $41 a barrel.
Today’s must-read story is by Coins2Day’s Kristen Korosec on what it takes to really build an unhackable car, according to some of the top executives from the automotive and tech industries. The discussion, hosted by Coins2Day and TheDrive, kicked off the LA Auto Show and Connected Car Expo taking place today through Nov. 29. Read more here.
Here’s what else you need to know.
1. Paris siege
French police have arrested five people in a seven-hour siege of an apartment in the Saint Denis district of Paris. One woman, believed by the police to have housed the alleged mastermind of Friday night’s terror attacks, Abdelhamid Abaaoud, blew herself up with a suicide vest in the early stages of the raid. Reports say five policemen were injured and some suggest a second jihadist was killed by police sniper. Rumors that Abaaoud was himself in the apartment have not been confirmed. In separate news, two Paris-bound Air France flights out of Los Angeles and Washington, D.C., made emergency landings after (apparently bogus) bomb threats.
2. Target reports.
Target (TGT) reports its third-quarter earnings today and many analysts expect the retailer to reveal healthy sales given Walmart’s (WMT) in-line earnings report Tuesday. Target CEO Brian Cornell has been investing in the chain’s core categories to drive shoppers into its stores, including categories like baby, kids, and wellness products. Investors will be paying close attention to Cornell’s expectations for the holiday season.
3. Fed minutes.
The Federal Open Market Committee will issue the official minutes from its recent policy meeting, which took place Oct. 27-28. In the Federal Reserve’s statement after that meeting, it acknowledged that it would consider raising rates at “its next meeting,” the first time its let on to any date-based guidance. The minutes could provide more detail on why it provided this detail. Investors will also be looking for any details on the potential pace of rate increases after the first rate rise.
4. Square and Match set IPO prices.
Both the payment company Square and Tinder-parent Match Group are scheduled to debut on the public market, setting their initial public offering price after the market close today. Square, founded and led by Twitter (TWTR) CEO Jack Dorsey, is expected to price its 27 million shares at between $11 and $13 per share. At the midpoint, Square would have an initial market cap of $3.88 billion. Match Group plans to price its 33.33 million shares at between $12 and $14 per share. Match would have a market cap of about $433 million at the midpoint.
5. Valeant presents to investors.
Valeant Pharmaceuticals (VRX) executives will take the stage today at the Jefferies Global Healthcare conference in London. Many will be looking for more details on the company’s fourth quarter earnings, especially after it cut ties with specialty pharmacy Philidor. Valeant said that it would dampen sales from its dermatology unit and would give more details next month. Over the past several weeks, its stock has plummeted as its come under pressure for its business tactics, including how it prices its drugs.
Additional reporting contributed by Reuters.
