Reuters Insider - U.S. Morning Call: Google scrutinised, LATAM Airlines loss

Universal

12/08/2016 14:14

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        Google's under the spotlight for allegedly        
                     breaking South Korean anti-competition laws,      
                     opening another regulatory front for the firm.    
                     LATAM Airlines reported Q2 losses due in part to  
                     Brazil.                                           
 
 
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Transcript (May be auto-generated)

                 Good morning, I'm Jade Barker and welcome to US Morning Call. Google under the 
spotlight today - the company is being investigated by South Korea's antitrust 
regulator into whether it violated the country's anti-competition laws. A person
close to the matter told Reuters the firm's headquarters in Seoul were inspected
in July. The Korean Fair Trade Commission hasn't commented on the nature of the 
probe, but it opens another regulatory front for Google - the company was fined 
more than $6 million in Russia this week and faces multiple European Union 
antitrust charges. And just yesterday, Google Ventures CEO Bill Maris quit. 
Right. 

Let's have a look at some stocks to watch this morning then and chipmaker Nvidia
Corp has reported its fastest quarterly sales growth in nearly five years. 
There's been strong demand for the company's processors which are used in gaming
computers and data centers. Shares up to about $59. And Latin America's largest 
airline LATAM Airlines has reported a Q2 net loss of $92 million 
wider-than-expected. The firm is struggling to overcome tough economic 
conditions in Brazil. It's said any recovery in its bottom line will depend on a
turnaround of the country's recession. 

And JC Penny shares falling in premarket trading, after reporting quarterly 
revenue that missed analyst's estimates. However, the department store chain 
operator did report a 2.2% rise in comparable store sales, helped by demand for 
home goods and footwear and a strong performance by the Sephora beauty products 
in its stores. And staying with corporate news, Comcast's NBC Universal expects 
to record profits from the Olympics - that's despite a drop in ratings. An 
average of 30 million people have tuned in to watch NBC's coverage during peak 
times, according to Nielsen data, but that's more than 8% lower than viewership 
during the 2012 Games. But the broadcaster says it's on par with expectations 
and it's hoping to top $120 million in profit from the London Games. 
Caterpillar, the world's largest manufacturer of heavy equipment says it doesn't
expect to see much demand for its energy and transportation products for the 
rest of the year. The firm is restructuring its business due to slow demand. 
Last month it posted a 16% drop in sales with energy and transport sales falling
as oil prices tanked. 

And Marlboro maker Philip Morris International says its e-cigarette known as the
iQOS has captured almost 3% of Japanese tobacco sales. Unlike conventional 
e-cigs, the iQOS produce a smokeless aerosol by heating tobacco leafs inserted 
into the device. Some limited editions have sold for more than $700. Former 
state tobacco monopoly Japan Tobacco is struggling to counter the challenge. And
let's take a look how Wall Street might open. The Dow Jones, the S&P, and the 
Nasdaq are all treading water. All three indices hit record highs on Thursday 
thanks to a surge in oil prices and positive earnings. And that's today's 
morning call. I'm Jade Barker and this is Reuters