Worldwide shipments in the third quarter dropped 19.5% from a year ago, marking the steepest decline in more than two decades, according to data from research firm Gartner Inc. Computer makers shipped 68 million PCs in the recent quarter, down from 84.5 million units the year prior.
NATO Aims to Better Align Arms Purchases in Response to Russian Hostility
BRUSSELS-NATO member states are working on ways to align their weapons purchases to better prepare for future conflicts, as they gear up for a major increase in military spending to replace the huge amounts of materiel sent to Ukraine and shore up their potential defenses against Russian aggression.
By improving purchasing cooperation, the North Atlantic Treaty Organization also hopes to make a leap in how its members would together fight a future conflict, including buying weapons systems that are easily interchangeable, plentiful and are more effective on the battlefield.
Russia Unleashes Its Biggest Barrage of Strikes on Ukraine Since Invasion
KYIV, Ukraine-Waves of Russian missiles slammed into Kyiv and other Ukrainian cities in one of the broadest and most intense barrages of the war, in response to a weekend attack Moscow blamed on Ukraine that seriously damaged a bridge connecting Russia to occupied Crimea.
Ukrainian President Volodymyr Zelensky said Russia had carried out dozens of strikes using missiles as well as Iranian-made drones to target the country's electrical grid and other civilian infrastructure. "The occupiers cannot match us on the battlefield, and that is why they resort to such terrorism," Mr. Zelensky said in a video address as he stood near a crater left by a strike in Kyiv.
Russia's Putin Seeks to Escalate With Ukraine Strikes as Pressure Builds at Home
President Vladimir Putin's missile strikes on cities throughout Ukraine Monday drew condemnation from the West but praise from a growing chorus in Russia-critics who say that Moscow, despite the brutality of its invasion, hasn't shown enough toughness.
Speaking hours after one of the broadest and most intense barrages of the war, Mr. Putin said Russia responded to a weekend attack on a key bridge that links Crimea, the Ukrainian peninsula that Moscow illegally seized in 2014, to Russia. Mr. Putin warned of a harsh response if Kyiv were to conduct further "terrorist attacks."
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Earnings:
None scheduled
Economic Indicators:
None scheduled
Stocks to Watch:
Westshore Terminals Investment: Westshore Terminals Limited Partnership in Tentative 6-Year Agreement With ILWU Local 502; Work Resumed at Terminal on Sunday Afternoon
Expected Major Events for Tuesday
04:30/JPN: Sep Corporate Insolvencies
05:00/JPN: Sep Economy Watchers Survey
06:00/UK: Sep UK monthly unemployment figures
08:00/ITA: Aug Industrial Production
10:00/FRA: Aug OECD Composite Leading Indicators
10:00/US: Sep NFIB Index of Small Business Optimism
12:55/US: 10/08 Johnson Redbook Retail Sales Index
14:00/US: Oct IBD/TIPP Economic Optimism Index
23:50/JPN: Aug Orders Received for Machinery
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Expected Earnings for Tuesday
ASA Gold & Precious Metals Ltd (ASA) is expected to report for 3Q.
AZZ Inc (AZZ) is expected to report $1.36 for 2Q.
Applied Blockchain Inc (APLD) is expected to report for 1Q.
E2open Parent Holdings Inc (ETWO) is expected to report for 2Q.
FTI Consulting (FCN) is expected to report $2.00 for 4Q.
NanoViricides Inc (NNVC) is expected to report for 4Q.
Schmitt Industries (SMIT) is expected to report for 4Q.
VOXX International (VOXX) is expected to report $-0.12 for 2Q.
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ANALYST RATINGS ACTIONS
Axonics Cut to Hold From Buy by Needham
Bristol-Myers Squibb Cut to Neutral From Buy by Guggenheim
Five9 Cut to Equal-Weight From Overweight by Morgan Stanley
Ford Motor Cut to Sell From Neutral by UBS
Fortinet Raised to Overweight From Equal-Weight by Morgan Stanley
General Motors Cut to Neutral From Buy by UBS
Global Medical REIT Cut to Neutral From Outperform by Baird
Highwoods Properties Cut to Neutral From Outperform by Baird
Kilroy Realty Cut to Neutral From Outperform by Baird
Kraft Heinz Raised to Buy From Neutral by Goldman Sachs
Kroger Raised to Outperform From Neutral by Exane BNP Paribas
Lincoln National Cut to Hold From Buy by Jefferies
Lowe's Cut to Hold From Buy by R5 Capital
Merck Raised to Buy From Neutral by Guggenheim
Omega Healthcare Cut to Neutral From Outperform by Baird
Procter & Gamble Cut to Neutral From Buy by Goldman Sachs
Sabra Healthcare REIT Cut to Neutral From Outperform by Baird
Satsuma Pharmaceuticals Raised to Outperform From Market Perform by SVB Leerink
Toast Raised to Buy From Neutral by Mizuho
TTEC Holdings Cut to Neutral From Buy by B of A Securities
Turning Point Brands Cut to Equal-Weight From Overweight by Barclays
Ventas Cut to Neutral From Outperform by Baird
Welltower Cut to Neutral From Outperform by Baird
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
10-11-22 0549ET
