The times. (Gainesville, Ga.) 1972-current, November 08, 2018, Image 14

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The times., November 08, 2018, Image 14

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Newspaper Page TextBD BUSINESS Jeff Gill | Business reporter 770-718-3408 | jgill@gainesvilletimes.com The Times, Gainesville, Georgia Thursday, November 8, 2018 Split Congress dims economic deals Possibility of legislative breakthroughs hits snag after Democrats win control of House BY JOSH BOAK Associated Press WASHINGTON — President Donald Trump floated the idea Wednesday of partnering with the newly Democratic-led House on two ideas that could prove popular with voters: Increasing spending on America’s infrastructure and limiting drug prices. Yet the poisonous atmosphere in Washington, mandated federal spending limits and a potential duel over the government’s bor rowing authority make it difficult to achieve any deals that would boost economic growth. Over the next two years, with Democrats controlling the House and Republicans the Senate, most economic and market analysts foresee gridlock. Many think the two sides will maneuver for pub lic favor while looking toward the 2020 presidential election year. At a news conference, Trump reiterated his desire to reach agree ment on infrastructure spending — to rebuild roadways, rail stations or airports, for example — among other priorities. But to achieve any real breakthrough, he would have to compromise with Democrats who won office largely by opposing his plans to restrict immigration, his efforts to repeal the Affordable Care Act, his deficit-funded tax cuts and his opposition to gun control in the aftermath of mass shootings. That said, most economists don’t think a stalemate in Congress would necessarily depress growth. The $20 trillion U.S. economy — the world’s largest — relies far more on the health of the global economy and the willingness of consumers and businesses to spend rather than on any government actions. Nor do market analysts think stock prices will suffer. In fact, major stock averages soared Wednesday in the wake of the elections. In part, that’s because Tuesday’s vote caused no major sur prises, in part because the prospect of no major congressional initia tives means lawmakers won’t stand in the way of a robust U.S. economy. “While you might see further gridlock if the Democrats take the House, that doesn’t mean it would tip the boat and slow growth,” said Beth Ann Bovino, chief U.S. econo mist at S&P Global. Economists at Bank of America concluded, “We expect a divided government to lead to a legisla tive logjam in Washington, DC in the next Congress, limiting policy actions to passing the budget with modest spending increases and raising the debt ceiling.” Trump would still have discre tion on some key economic issues. His trade war with China and his drive to reduce regulations are two of them. The president has man aged to pursue those priorities with out Congress’ involvement, though his updated trade agreement with Canada and Mexico would need congressional approval. But the new Democratic-led House could thwart Trump’s plans for more tax cuts, a wall along the border with Mexico and a 5 percent budget cut to Cabinet departments. But the Democrats’ own agendas would also likely meet with defeat. A growing aerospace prowess KIN CHEUNG I Associated Press China’s new-generation stealth unmanned combat aircraft prototype, the CH-7, is displayed Tuesday, Nov. 6, during the 12th China International Aviation and Aerospace Exhibition, also known as Airshow China 2018, in Zhuhai city. China unveils stealth combat drone still in development BY DAKE KANG AND CHRISTOPHER B0DEEN Associated Press A Chinese state-owned company says it is developing a stealth combat drone in the latest sign of the country’s growing aerospace prowess. The CH-7 unmanned aerial vehicle also underscores China’s growing competi tiveness in the expanding global market for drones. China has won sales in the Middle East and elsewhere by offering drones at lower prices and without the political conditions attached by the U.S. The CH-7’s chief designer Shi Wen says the aircraft can “fly long hours, scout and strike the target when necessary.” “Very soon, I believe, in the next one to two years, (we) can see the CH-7 flying in the blue skies, gradually being a practical and usable product in the future,” Shi told The Associated Press. Shi said manufacturer Chinese Aero space Science and Technology Corpora tion plans to test fly the drone next year and begin mass production by 2022. He said the drone will likely be sold abroad but had no information on potential clients. A model of the aircraft is being dis played at this week’s Zhuhai air show in southern China, a biannual event that showcases China’s latest advancements in military and civilian aviation. With a wingspan of 22 meters and a length of 10 meters, the swept-wing CH-7 is the size of a combat aircraft and its single engine can propel it at roughly the speed of a commercial jet airliner. The U.S., Russia and France are also developing stealth drones, while Israel has long been a leader in the UAV field. However, low prices and a willingness to transfer technology have endowed China with a “strong position,” in the UAV market, said Phil Finnegan, direc tor of corporate analysis at the Teal Group Corp. in Fairfax, Virginia. The U.S. has been extremely cautious about selling its higher-end unmanned system, even to NATO member states, opening up an opportunity to China in the export market, said Justin Bronk, an export on such technologies at the Royal United Services Institute for Defense and Security Studies in London. “It would represent an area of Chinese arms export offerings which no other country offers,” Bronk said. Alongside its development of stealth fighters and commercial passenger jets, China has advanced rapidly in the devel opment of UAVs, which have a lower technological entry cost. Sales have also been boosted by the fact that China is not a signatory to the Missile Technology Control Regime that restricts exports of missiles and other unmanned weapons systems. The numbers of drone programs unveiled in China in recent years has been “dizzying,” said Sam Roggeveen, director of the international security pro gram at Australia’s Lowy Institute. While the CH-7’s ultimate effectiveness remains to be determined, if exported, it would “mark another step-change for China, which has traditionally not offered its cutting-edge technology to foreign cus tomers,” Roggeveen said. Facebook blocks fake accounts but election battle goes on BY BARBARA 0RTUTAY Associated Press NEW YORK — Facebook’s recent disclo sures on blocking suspicious accounts show that the company’s efforts to root out election med dling are working — to a point. What’s not known is how much the company isn’t catching and whether this “whack-a-mole” fight will ever end, as those wanting to influ ence U.S. and other elections can easily cre ate replacement Facebook pages, groups and accounts. Facebook said it blocked an unspecified number of additional accounts on Election Day because of suspected connections to foreign efforts to interfere in the voting through disin formation on social media. That’s on top of the 115 accounts Facebook shut down earlier this week and the 652 pages, groups and accounts removed in August. Facebook said the additional accounts were identified after a website that claimed to be associated with the Russia-based Internet Research Agency published a list of Instagram accounts it says it created. Facebook said it had blocked most of the listed accounts already and has now blocked the rest. “This is a timely reminder that these bad actors won’t give up,” said Nathaniel Gleicher, Facebook’s head of cyber security policy. U.S. tech companies have stepped up efforts to fight disinformation campaigns by Russian groups, whom authorities accuse of swaying the 2016 presidential election. The companies were caught embarrassingly off-guard then. This time around, there are clear signs they are making some progress. Sam Gill of the nonprofit John S. and James L. Knight Foundation, which recently com missioned a study on misinformation on social media, said that while tech companies cannot declare victory yet, “the leaders of the compa nies don’t talk any more that it isn’t a problem — they talk about how important it is to get it right. ” That’s in contrast to Facebook CEO Mark Zuckerberg’s now-infamous quip in November 2016 calling the idea that fake news on Face- book influenced the elections “pretty crazy.” But social media companies still have work to do. By some measures, the spread of fake news on Facebook has declined since 2016, but the same can’t always be said for Twitter. The Knight study on misinformation points to a central problem that has emerged since 2016: It isn’t just Russian agents spreading misinfor mation. Plenty of homegrown sites are at it, too. The study found that fake news is still being spread on Twitter, the vast majority from just a few sources. Stock Exchange Highlights ft NYSE 12,679.11 +199.05 Gainers ($2 or more) Name Last Chg %Chg SendGrid n 46.45 +12.18 Twilio n 96.19+25.17 Flotek 2.43 +.56 JonesEngy rs2.86 NobleMid n 41.76 PlanetFit n 55.57 QuormHI n 5.35 TableauA 121.16+16.13 InsprMed n 52.58 +6.45 WstnGasPt 46.77 +5.70 +.48 +6.16 +8.09 +.74 +35.5 +35.4 +29.9 +20.2 +17.3 +17.0 +16.1 +15.4 +14.0 +13.9 Losers (S2 or more) Name Last Chg %Chg TJX 55.42 Conduent n 13.62 Medifast 153.31 DiploPhm 14.80 BWXTech 46.26 Coty 8.66 DeanFoods 6.00 SpragueRs 19.55 MKors 49.05 VitaminSh 6.70 -54.13 -49.4 -5.60 -29.1 -61.57 -28.7 -5.54 -27.2 -14.41 -23.8 -2.52 -22.5 -1.70 -22.1 -4.15 -17.5 -8.40 -14.6 -1.14 -14.5 Most Active ($1 on more) Name Vol (00) Last Chg GenElec 1231979 BkofAm 566506 EnCanag 459212 FordM 373426 Pfizer 346397 AT&T Inc 308151 Coty 294973 AuroraC n 294385 Ambev 271200 CanopyGr n266984 9.20 -.22 28.54 +.33 8.78 +.07 9.60 +.06 44.40 +1.39 31.10 +.14 8.66 -2.52 8.08 +.68 4.37 -.06 46.07 +3.48 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 2,173 668 56 2,897 74 50 3,841,224,935 Gainers ($2 or more) Name Last Chg %Chg Tilrayn 139.60 IderaPh rs 9.20 Genomic 90.18 CytomX n 15.95 AmSupr rs 9.35 OfficeDpt 3.41 Etsy n 50.01 SorrentoTh 4.24 NewAgeB n 5.08 VictCap n 9.78 +32.74 +1.99 +19.39 +3.20 +1.81 +.66 +9.58 +.77 +.85 +1.63 +30.6 +27.6 +27.4 +25.1 +24.0 +24.0 +23.7 +22.2 +20.1 +20.0 Losers ($2 or more) Name Last Chg %Chg MiMedx 3.66 NCSMItstn 8.10 Infinera 4.15 ZillowC n 29.99 Boxlight n 2.71 ZillowAs 29.91 l-AMCap n 7.00 Frontr rs 4.06 ChuysHldg 20.51 Mindbody n 26.18 -2.56 -41.2 -4.35 -34.9 -2.08 -33.4 -11.05 -26.9 -.99 -26.8 10.84 -26.6 -2.27 -24.5 -1.21 -22.9 -5.71 -21.8 -6.45 -19.8 Most Active ($1 or more) Name Vol (00) Last Chg AMD Microsoft Apple Inc Groupon Intel MiMedx SiriusXM CronosGp MicronT ZillowC n 1208686 21.84 378621 111.96 331064 209.95 328361 2.92 297466 282516 280971 n227855 227594 218354 48.72 3.66 6.30 9.81 40.93 29.99 +1.16 +4.24 +6.18 -.35 +1.77 -2.56 -.04 +.76 +1.13 -11.05 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 2,053 874 145 3,072 63 70 2,574,243,393 Stocks of Local Interest Name Ex YTD Div Yld PE Last Chg %Chg AFLAC S 1.04 2.3 14 45.06 +1.07 0.0 HeliosM rs AT&T Inc 2.00 6.4 6 31.10 +.14 -20.0 Hershey 2.89 2.7 23 AbbottLab 1.12 1.5 31 72.50 +1.54 +27.0 HomeDp 4.12 2.2 24 AMD 21.84 +1.16+112.5 Infinera Altria 3.20 4.9 21 65.37 +.50 -8.5 Intel 1.20 2.5 18 Apple Inc 2.92 1.4 25 209.95 +6.18 +24.1 IBM 6.28 5.0 9 ATMOS 1.94 2.0 18 96.70 +1.24 +12.6 JohnJn 3.60 2.5 20 AuroraC n 8.08 +.68 +7.9 Lowes 1.92 1.9 21 AutoZone 17 790.50 +9.48 +11.1 MagneG rs AveryD 2.26 2.4 27 93.33 +1.36 -18.7 McDnlds 4.64 2.5 28 BB&T Cp 1.62 3.2 14 50.15 +.18 +.9 Merck 2.20 2.9 28 BP PLC 2.38 5.5 23 43.11 +.45 +2.6 MicronT 4 BkofAm .60 2.1 14 28.54 +.33 -3.3 Microsoft 1.84 1.6 53 BarnesNob .60 8.8 6.85 +.12 +2.2 MiMedx 16 Boeing 6.84 1.8 35 372.02 +5.55 +26.1 NorflkSo 3.20 1.8 26 BrMySq 1.60 3.0 52 52.99 +1.64 -13.5 OfficeDpt .10 2.9 10 CSX .88 1.2 10 72.31 +1.94 +31.4 Penney 25 CampSp 1.40 3.7 13 38.35 -.02 -20.3 PepsiCo 3.71 3.2 33 CanopyGr n ... 46.07 +3.48 -10.6 Pfizer 1.36 3.1 18 Caterpillar 3.44 2.5 13 135.10 +5.77 -14.3 PhilipMor 4.56 5.1 22 ChesEng 6 3.72 +.07 -6.1 Primerica 1.00 .9 14 Chevron 4.48 3.7 25 120.87 +1.97 -3.5 ProctGam 2.87 3.1 23 Cisco 1.32 2.8 24 47.90 +1.40 +25.1 RegionsFn .56 3.2 15 Citigroup 1.80 2.6 12 68.26 +1.58 -8.3 SiriusXM .05 .8 35 CocaCola 1.56 3.2 93 49.37 +.26 +7.6 SouthnCo 2.40 5.1 22 ConAgra .85 2.4 17 34.78 -.28 -7.7 Square n Coty .50 5.8 8.66 -2.52 -56.5 SunTrst 2.00 3.2 11 CronosGp n ... 9.81 +.76 +28.7 SynovusFn 1.00 2.6 14 Cummins 4.56 3.1 41 146.73 +1.62 -16.9 3M Co 5.44 2.7 28 Disney 1.68 1.4 16 117.05 +.34 +8.9 Torchmark .64 .7 7 DowDuPnt 1.52 2.5 19 59.83 +1.81 -16.0 Twilio n EnCana g .06 .7 15 8.78 +.07 -34.1 Tyson 1.20 1.9 11 Equifax 1.56 1.5 18 103.87 +.31 -11.9 UtdCmBks .60 2.4 15 ExxonMbl 3.28 4.0 15 83.03 +1.04 -.7 UPS B 3.64 3.3 19 Facebook 28 151.53 +1.59 -14.1 VerizonCm 2.41 4.2 7 FordM .60 6.3 5 9.60 +.06 -23.1 Vodafone 1.82 9.3 GenElec .48 5.2 9.20 -.22 -47.4 WalMart 2.08 2.0 25 GenuPrt 2.88 2.9 22 100.46 +1.90 +5.7 WeisMk 1.24 2.7 11 Groupon 2.92 -.35 -42.8 WellsFargo 1.72 3.2 13 HP Inc .56 2.2 9 25.47 +.59 +21.2 YumBrnds 1.44 1.6 32 Haverty .72 3.3 22 21.62 +.16 -4.5 ZillowC n Name Ex YTD Div Yld PE Last Chg %Chg .02 4.15 -2. 48.72 +1. 124.84 +1 144.75 +2 100.60 +3: .29 +: 184.25 +1. 75.08 +1. 40.93 +1. 111.96 +4. 3.66 -2. 173.05 +6. 3.41 +. 1.51 -. 115.61 +. 44.40 +1, 89.07 116.70 91.29 17.52 6.30 47.01 +1.: 82.69 +5. 62.83 38.25 28 201.29 +5. 87.70 +1. 96.19+25. 62.04 +. 25.34 +. 111.13 +2. 57.65 +. 19.51 +.: 104.32 +. 46.46 +1: 53.58 +: 89.38 +1 29.99 -11 ...-100.0 36 -4.8 22 -1.2 08 -34.4 77 +5.5 72 -18.6 18 +3.6 09 +8.2 01 -94.0 54 +7.0 77 +33.4 13 -.5 24 +30.9 56 -71.0 00 +19.4 66 -3.7 04 -52.2 40 -3.6 39 +22.6 30 -15.7 34 +14.9 22 -.6 12 +1.4 04 +17.5 34 -2.2 38+138.5 33 -2.7 09 -20.2 99 -14.5 00 -3.3 .17+307.6 02 -23.5 03 -10.0 48 -6.7 44 +8.9 38 -38.8 99 +5.6 00 +12.2 03 -11.7 48 +9.5 05 -26.7 Stock Footnotes: g = Dividends and earnings in Canadian dollars, h = Does not meet continued-listing standards. If = Late filing with SEC. n = New in past 52 weeks, pf = Preferred, rs = Stock has undergone a reverse stock split of at least 50 percent within the past year, rt = Right to buy security at a specified price, s = Stock has split by at least 20 percent within the last year, un = Units, vj = In bankruptcy or receivership, wd = When distributed, wi = When issued, wt = Warrants. Fund Footnotes: m - Multiple fees are charged, usually a marketing fee and either a sales or redemption fee. Source: The Associated Press. Sales figures are unofficial. Stock Market Indexes Dow Jones industrials Close: 26,180.30 Change: 545.29 (2.1%) 26,240 10 DAYS 25,180. 24,120 27,200 26,400 25,600 24,800 24,000 52-Week High Low Name 26,951.81 11,623.58 778.80 13,637.02 8,133.30 1,309.73 2,940.91 2,053.00 30,560.54 1,742.09 23,242.75 9,420.16 647.81 11,820.33 6,630.67 1.118.69 2.532.69 1,769.25 26,293.62 1,436.43 Dow Industrials Dow Transportation Dow Utilities NYSE Composite Nasdaq Composite S&P 100 S&P 500 S&P MidCap Wilshire 5000 Russell 2000 A S 0 N Net YTD 12-mo Last Chg %Chg %Chg %Chg 26,180.30 +545.29 +2.13 +5.91 +11.11 10,714.49 +240.38 +2.30 +.96 +11.25 747.10 +6.95 +.94 +3.28 -1.64 12,679.11 +199.05 +1.59 -1.01 +2.38 7,570.75 +194.79 +2.64 +9.67 +11.51 1,252.45 +27.78 +2.27 +5.86 +9.34 2,813.89 +58.44 +2.12 +5.25 +8.46 1,910.12 +28.17 +1.50 +.50 +4.03 29,051.70 +584.45 +2.05 +4.52 +8.03 1,582.16 +26.06 +1.67 +3.04 +6.78 Mutual Funds Name Total Assets Obj ($Mlns) NAV Total Return/Rank 4-wk 12-mo 5-year Pet Load Min Init Invt Vanguard 500ldxAdmrl LB 247,729 260.18 -2.4 +10.7/A +12.2/A NL 10,000 Vanguard TtlSMIdxAdmrl LB 199,057 70.06 -2.5 +10.3/B +11.8/A NL 10,000 Vanguard TtlSMIdxInv LB 127,316 70.04 -2.5 +10.2/B +11.7/B NL 3,000 Vanguard TtlnSIdxInv FB 126,316 16.46 -2.4 -5.9/C +2.9/B NL 0 Vanguard TtlSMIdxIns LB 119,661 70.08 -2.5 +10.3/B +11.8/A NL 5 000,000 Vanguard Insldxlns LB 116,372 256.69 -2.4 +10.7/A +12.2/A NL 5 000,000 Vanguard InsIdxInsPlus LB 101,648 256.71 -2.4 +107/A +12.3/A NL100,000,000 Vanguard TtlnSIdxInsPlus FB 94,240 110.10 -2.5 -5.8/C +3.0/B NL100,000,000 Fidelity Contrafund LG 91,385 13.20 -4.1 +11.3/C +13.3/B NL 0 Vanguard TtBMIdxAdmrl Cl 85,528 10.23 0.0 -2.6/C +1.8/C NL 10,000 Fidelity 500ldxlnsPrm LB 84,712 98.46 -2.4 +10.7/A +12.3/A NL 0 Vanguard WlngtnAdmrl MA 84,654 72.42 -1.5 +4.5/A +8.1/A NL 50,000 Cl -Intermediate-Term Bond, FB -Foreign Large Blend, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends reinvested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar.