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U.S. equities were mostly higher at midday as the market wrapped up a key week of corporate earnings reports. The S&P 500 and Nasdaq advanced, while the Dow Jones Industrial Average edged lower.

Tapestry (TPR) was the best-performing stock in the S&P 500 after a judge blocked the plan by the owner of Coach and other fashion brands to buy rival Capri Holdings (CPRI) for $8.5 billion. Capri Holdings shares cratered.

Shares of Centene (CNC) jumped when the managed care and health insurance provider easily beat profit and sales forecasts and raised its guidance on an increase in membership rolls and premium and service revenue.

Deckers Outdoor (DECK) shares took off when the footwear maker also posted better-than-expected results and boosted its outlook on soaring demand for its Hoka shoes.

HCA Healthcare (HCA) shares slumped when the insurer reported worse-than-expected profit and revenue and warned about full-year results because of the impact of recent hurricanes.

Shares of Mohawk Industries (MHK) fell as the flooring manufacturer also said the hurricanes would hurt current-quarter sales.

Skechers USA (SKX) shares declined as soft full-year guidance offset better-than-anticipated quarterly results for the maker of the eponymous shoe brand. 

Oil and gold futures rose. The yield on the 10-year Treasury note was little changed. The U.S. dollar was up on the euro and yen, but slightly lost ground to the pound. Bitcoin edged lower.

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Deckers Outdoor (DECK) shares soared Friday, a day after the footwear maker posted better-than-expected results and boosted its outlook as demand for its Hoka brand shoes surged.

The company reported second-quarter fiscal 2025 diluted earnings per share (EPS) of $1.59, with revenue up 20.1% from a year ago to $1.31 billion. Both exceeded analysts' estimates compiled by Visible Alpha.

Sales of Hoka shoes jumped 34.7% to $579.9 million. Ugg sales were up 13% to $689.9 million, and they climbed 2.3% to $22 million for Teva. Sales at Sanuk plunged 47.6% to $2.8 million, and they were down 15.8% to $25.8 million for other brands, primarily Koolaburra.

Domestic revenue rose 14.2% to $853.9 million, and surged 33% to $457.4 million internationally. direct-to-consumer (DTC) sales added 19.9% to $397.7 million.

Deckers said it now anticipates full-year revenue growth of about 12% to $4.8 billion, up from its previous outlook of a 10% gain to $4.7 billion.

Shares of Deckers were up over 12% at $170.41 in early trading Friday, and have added more than 50% of their value this year.

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The Federal Ministry of Aviation and Aerospace Development has approved the bid by the Kogi State Government to construct an International Airport in Zariagi.

The Commissioner for Information and Communications of the State, Mr Kingsley Fanwo, said the approval was conveyed in a letter by the Federal Ministry of Aviation and Aerospace Development, dated 9th October, 2024.

He said the administration of Usman Ododo was committed to the timely completion of the project with strict adherence to regulatory standards, saying an airport in Kogi State would serve 10 other States and reduce traffic on the Lokoja -Abuja road. It will also decongest the traffic on the International Airport in Abuja.

“The Ododo Administration has considered it a top priority for Kogi State to have an International Airport and join the league of the aviation hub. The strategic location of the state is no doubt, an invaluable advantage in harnessing the aviation service market as the centre of the nation.

The project will not only boost the economy of the State, it will also create jobs and bring the potentials of the state to the global scene.

The Governor is determined to hire the best hands in the industry to make the project a huge success. As you are aware, aviation is an industry of trust and standards.

We thank President Bola Ahmed Tinubu, GCFR and the Aviation Minister for the historic approval that will help to further develop Kogi State. We want to also say that the Airport will also have capacity for Cargo as that is one of our key focuses in the project.

The people of Kogi State and Ododo would continue to execute laudable projects to consolidate the gains of the last eight years in Kogi State. Zariagi is a very strategic community that already boasts of an airstrip. The team from the Ministry of Aviation and Aerospace Development was satisfied with the location and the plans of the Kogi State Government on the project,”the Commissioner stated.

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A businesswoman has shared her frightening experience commuting by sea in Lagos.

They boarded a ferry or boat from CMS terminal coming to Light house beach house at Takwa bay. The boat instructor was at the back controlling the boat, the boat stopped after 5 minutes that they moved and he restarted it and it restarted, then they continued the journey. It stopped the second time again, this time in the middle of the ocean. He tried severally but to no avail.

Everyone started panicking which caused the boat to start swaying left and right. It was at that point she made the tweet. They waited for like 5 minutes then the instructor called rescue to come get them, but they did not get here quickly enough, so another boat sighted them from afar and decided to help them. So they transferred their luggages and people to the new boat.

On starting the new boat that’s when the rescue boat arrived. They are now on land and they are very safe.

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Apple (AAPL) has regained its standing among the top five smartphone sellers in China during the third quarter with the launch of its iPhone 16, the International Data Corp. (IDC) said.

According to IDC, the tech giant's 15.6% share of the Chinese smartphone market declined from 16.1% a year ago but nevertheless was good for the second-most sales. Chinese firm vivo was the top seller.

Apple fell out of the top five in IDC's research during the second quarter, as its sales in China struggled in the first half of the year as domestic competitors like Huawei, vivo, and Xiaomi gained ground.

With the launch of the iPhone 16 and flagship brands from competitors, the smartphone market is picking up again despite China's slowing economy, with IDC noting third-quarter sales rose 3.2% year-over-year to 68.8 million units.

"A significant wave of device upgrades is propelling the sustained recovery of the Chinese smartphone market," IDC China senior research analyst Arthur Guo said. "Despite ongoing economic challenges, consumers are highly motivated to purchase new smartphones after three years of pent-up demand."

Apple has yet to include its latest artificial intelligence (AI) features into its new devices in China, a delay that analysts have said could cause the tech giant to lose ground against competitors. Apple Intelligence will be rolled out in English-language devices in coming weeks and in other languages like Spanish and Chinese next year.

Apple Chief Executive Officer (CEO) Tim Cook reportedly was in Beijing this week to meet with government officials and local partners to gain support for Apple Intelligence.

Apple shares were up less than 1% soon after markets opened Friday. They have gained about 20% in 2024.

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A conversation between footballers Victor Boniface and Victor Osimhen has trended on X.

Victor Boniface has said, how will you have a senior man like Victor Osimhen and you will not have any benefits from him, even if it’s a Rolex wrist watch or a small Benz.

Victor Osimhen told him to calm down as the level remains 3000 euros to be completed, when completed he will run things for his guys.

Click to watch

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