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House prices fall as rents hit the roof, surveyors say

Pinduoduo Down 4%

Shares of online agricultural platform Pinduoduo Inc. (PDD) are down 4 percent on Wednesday’s trading despite there being no company-specific news to impact the stock. PDD’s movement is in line with the U.S stock markets, which are in the red on Wednesday’s trading.

Currently at $60.10, the stock has traded between $23.21 and $95.58 during the past 52 weeks.

NuVasive, Inc. Q3 Earnings Summary

Below are the earnings highlights for NuVasive, Inc. (NUVA):

Earnings: -$1.98 million in Q3 vs. -$21.64 million in the same period last year.
EPS: -$0.04 in Q3 vs. -$0.42 in the same period last year.
Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period.

Analysts projected $0.54 per share
Revenue: $295.28 million in Q3 vs. $270.84 million in the same period last year.

-Guidance:
Full year EPS guidance: $2.00 – $2.10

Oil Futures Settle Sharply Lower On Higher Crude Stocks, Demand Worries

Crude oil prices fell on Wednesday, weighed down by official data showing a jump in crude stockpiles in the week ended November 4th and on concerns about the outlook for energy demand from China.

A stronger U.S. dollar also weighed on crude oil prices. The dollar surged higher against most of its major rivals with, traders looking ahead to the crucial U.S. consumer price inflation data due on Thursday.

West Texas Intermediate Crude oil futures for December ended lower by $3.08 or about 3.5% at $85.83 a barrel, falling for the third consecutive session. The contract closed at a more than 2-week low.

Brent crude futures settled at $92.65 a barrel, giving up $2.71 or about 2.8%.

Data released by U.S. Energy Information Administration (EIA) showed crude stockpiles surged 3.9 million barrels last week to 440.8 million barrels.

The data showed gasoline stocks in the U.S. dropped by 900,000 barrels last week, while distillate stockpiles fell by about 500,000 barrels.

The EIA data also sowed that crude stocks at Cushing, Oklahoma, fell by 1 million barrels last week. Total domestic petroleum production climbed by 200,000 barrels per day to 12.1 million barrels per day, the data said.

Meanwhile, with Covid-19 cases seeing a surge, China is unlikely to relax restrictions anytime soon, and this could significantly hurt demand for oil in the world’s second largest economy.

Two Denver officers dragged before auto theft suspects crash vehicle

Two Denver officers were dragged by auto theft suspects who attempted to flee before crashing the vehicle a short time later, police said.

Officers attempted to contact the suspects in the area of East 13th Avenue and North Elizabeth Street, police said in an 11:59 a.m. Wednesday tweet.

Two suspects were taken into custody after the vehicle crashed, shortly after the initial contact. There were no serious injuries, police said. An investigation is ongoing.

XL Fleet Corp. Q3 Loss Rises

XL Fleet Corp. (XL) released Loss for its third quarter that increased from last year

The company’s bottom line totaled -$22.01 million, or -$0.15 per share. This compares with -$7.53 million, or -$0.05 per share, in last year’s third quarter.

The company’s revenue for the quarter rose 161.2% to $8.36 million from $3.20 million last year.

XL Fleet Corp. earnings at a glance (GAAP) :

-Earnings (Q3): -$22.01 Mln. vs. -$7.53 Mln. last year.
-EPS (Q3): -$0.15 vs. -$0.05 last year.
-Revenue (Q3): $8.36 Mln vs. $3.20 Mln last year.

Wynn Resorts Ltd. Q3 Loss Decreases, but misses estimates

Wynn Resorts Ltd. (WYNN) released Loss for third quarter that decreased from last year but missed the Street estimates.

The company’s earnings totaled -$142.89 million, or -$1.27 per share. This compares with -$166.25 million, or -$1.45 per share, in last year’s third quarter.

Excluding items, Wynn Resorts Ltd. reported adjusted earnings of -$135.40 million or -$1.20 per share for the period.

Analysts on average had expected the company to earn -$1.00 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 10.5% to $889.72 million from $994.64 million last year.

Wynn Resorts Ltd. earnings at a glance (GAAP) :

-Earnings (Q3): -$142.89 Mln. vs. -$166.25 Mln. last year.
-EPS (Q3): -$1.27 vs. -$1.45 last year.
-Analyst Estimates: -$1.00
-Revenue (Q3): $889.72 Mln vs. $994.64 Mln last year.

Curis Inc Q3 Loss increases, but beats estimates

Curis Inc (CRIS) released Loss for its third quarter that increased from the same period last year but beat the Street estimates.

The company’s earnings totaled -$13.29 million, or -$0.14 per share. This compares with -$11.05 million, or -$0.12 per share, in last year’s third quarter.

Analysts on average had expected the company to earn -$0.17 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 6.9% to $2.83 million from $3.04 million last year.

Curis Inc earnings at a glance (GAAP) :

-Earnings (Q3): -$13.29 Mln. vs. -$11.05 Mln. last year.
-EPS (Q3): -$0.14 vs. -$0.12 last year.
-Analyst Estimate: -$0.17
-Revenue (Q3): $2.83 Mln vs. $3.04 Mln last year.

House prices fall as rents hit the roof, surveyors say

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Rising mortgage costs are making buyers cautious, the Royal Institution of Chartered Surveyors (RICS) said. But rents are expected to continue rising, as property demand outstrips supply.

Across the UK, professionals reported house prices falling, ending 28 months of positive readings. But some areas are still recording growth.

Scotland and Northern Ireland still report a firm upward trend in prices even if the pace is slower than earlier in the year, RICS said.

By contrast, East Anglia and the South East of England were seeing prices dropping.

Professionals across the UK now believe house prices will fall over the year ahead.

In the lettings market, shortages mean rents are expected to be around four percent higher next year.