Pelosi names 7 Democrats as managers for impeachment trial
House Speaker Nancy Pelosi on Wednesday named seven House Democrats as managers for President Donald Trump’s upcoming impeachment trial in the Senate. She said the managers will be two powerful committee chairmen, Rep. Adam Schiff of California and Rep. Jerry Nadler of New York, as well as Rep. Zoe Lofgren of California, Rep. Hakeem Jeffries of New York, Rep. Val Demings of Florida, Rep. Jason Crow of Colorado and Rep. Sylvia Garcia of Texas.
European Economics Preview: UK Inflation, Germany GDP Data Due
Inflation from the UK and annual GDP data from Germany are due on Wednesday, headlining a busy day for the European economic news.
At 2.45 am ET, France’s Insee is slated to release final inflation data for December. Consumer price inflation is seen at 1.4 percent, unchanged from flash estimate.
At 3.00 am ET, final CPI data is due from Spain. Inflation is forecast to match the preliminary estimate of 0.8 percent in December. Austria’s consumer price data is also due at 3.00 am ET.
At 4.00 am ET, Germany’s GDP data for 2019 is due. The largest euro area economy is forecast to expand 0.6 percent versus 1.5 percent in 2018.
At 4.30 am ET, the Office for National Statistics releases UK consumer and producer prices for December. Consumer price inflation is expected to remain unchanged at 1.5 percent.
Economists forecast output price inflation to double to 1 percent in December from 0.5 percent in November. At the same time, input prices are expected to fall 0.9 percent annually, following a 2.7 percent drop a month ago.
At 5.00 am ET, Eurostat publishes euro area industrial production and foreign trade data. Industrial output is seen rising 0.3 percent on month in November, in contrast to a 0.5 percent fall in October.
The euro area trade surplus is expected to fall to a seasonally adjusted EUR 22 billion in November from EUR 24.5 billion in October.
Up to 15 cm of snow possible in Ottawa overnight: Environment Canada
Ottawa should brace for up to 15 centimetres of snow overnight and into Thursday morning, Environment Canada says.
The weather agency has issued a special weather statement ahead of the snowfall expected to begin Wednesday evening, saying a low-pressure system forecasted to move across the lower Great Lakes will bring snow into eastern Ontario.
Israel's gas exports to Egypt might get re-exports -Israeli minister
CAIRO, Jan 15 (Reuters) – Israeli gas exports to Egypt might be re-exported to Europe via the liquefied natural gas (LNG) Idku plant in northern Egypt “in a few months”, Israel’s energy minister said on Wednesday.
Yuval Steinitz also told Reuters that Israel was talking to Egypt and India about exporting gas from the Eastern Mediterranean to India through the Suez canal. (Reporting by Aidan Lewis Writing by Ulf Laessing, Editing by Susan Fenton)
Football: 2021 Africa Cup of Nations to be played at start of year, say hosts Cameroon
Yaoundé (AFP) – The Africa Cup of Nations will revert to its former time slot of January and February for the next edition in 2021, hosts Cameroon said on Wednesday.
The Cameroon Football Federation (Fecafoot) revealed that the tournament will be played from January 9 to February 6, 2021, on their request due to concerns about the weather.
The tournament was moved to a June-July slot for last year’s first 24-team edition in Egypt, in large part to avoid clashing with the European club season.
Nio’s stock soars on heavy volume after report of funding secured
Shares of Nio Inc. NIO, +12.23% soared 13.3% on heavy volume in premarket trading Wednesday, after reports that the China-based electric vehicle maker secured funding needed for 2020. Trading volume ballooned to over 9.6 million shares, making the stock the most actively traded ahead of the open. A report in Sina Finance said the financing is about $1 billion. The stock, which has run up 16% amid a 5-session win streak through Tuesday, is on track to open above the highest closing price seen since May 20. It has more than doubled (up 142.6%) over the past three months through Tuesday, while U.S.-based fellow EV maker Tesla Inc. TSLA, -0.61% shares have also more than doubled (up 108.6%) and the S&P 500 SPX, +0.38% has gained 9.6%.
Canada’s home prices rise 9.6 in December compared to a year ago, sales up almost 23%
The Canadian Real Estate Association said home sales in December were up 22.7 per cent compared with a year ago when sales were relatively quiet. Sales in the final month of 2019 were up compared with a year ago across most of Canada, including all of the largest urban markets.
Stock Alert (CIEN): Ciena Shares To Test Highs Again?
Shares of Ciena Corp. (CIEN) touched an intra-day high of $43.29 today, not far from its multi-year high of $46.78 reached in late July. However, the trading volume seems thinned out to 771K shares vs. average trading volume of 2.8 million.
On December 6, an analyst urged shareholders to sell Ciena shares, citing a downturn ahead. Perversely, the stock has been climbing ever since, and gained more than 20% from the December 6 closing price of $35.
Mid December, the optical networking company posted a mixed bag of Q4 results, with adjusted eps of 58 cents failing to meet the Street estimate of 63 cents, while revenues were $968 million vs. $964.3 million consensus.
For Q1, Ciena sees revenue of $805 million to $835 million vs. current consensus $819.8 million. Revenue expectation for 2020 aligns closely with the current consensus of approximately $3.8 billion, the company said in its recent earnings call. Ciena continues to target 20% growth in EPS over the next three years.
With WaveLogic 5, Ciena’s next-generation coherent optical modem, hitting the market in Q1, the company continues to expect revenue momentum to begin in Q2 with more material revenue in the second half of 2020.
Ciena believes that the recent Centina acquisition rounds out its software capabilities to enable closed-loop automation and positions it for even greater opportunities heading in 2020. Centina provides service assurance analytics and network performance management solutions.