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SunPower Poised to Separate Into Two Publicly Traded Companies

8:50 AM, Nov 11, 2019 — SunPower (SPWR) unveiled a plan to divide itself into two independent, publicly traded companies on Monday while affirming that the two separate entities would continue to cooperate to commercialize next-generation solar panel technologies.

The San Jose, Calif.-based company said that it would separate into SunPower and Maxeon Solar Technologies. Concurrent with the transaction, the company said that an equity investment of $298 million would be made in Maxeon Solar by partner Tianjin Zhonghuan Semiconductor, a supplier of silicon wafers, to help finance the scale-up of Maxeon 5 production capacity.

“We believe that the solar industry is entering a period of extended growth where success will be driven by value chain specialization, technology innovation and economies of scale,” Tom Werner, chief executive of SunPower. said. “This new structure and investment will create two focused businesses, each with unique expertise to excel in their part of the value chain.”

Werner is to continue as chairman and CEO of SunPower and the company will maintain its corporate headquarters in Silicon Valley. Jeff Waters, currently CEO of SunPower’s Technologies business unit, has been named Maxeon Solar’s CEO.

Companies: SunPower Corporation
Price: 8.90 Price Change: +0.53 Percent Change: +6.33

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Weekly Commodities ETF Report: Crude Logs Weekly Loss But Rises Friday on Upbeat Jobs Report, US-China Trade Deal Progress; Gold Ends Higher on Fed Rate Cut

(MT Newswires) – Crude ended Friday’s session higher on a better-than-expected US jobs report. The price gains came after the release of a US nonfarm payrolls report that showed the country added 128,000 jobs last month, well above the 95,000 new jobs expected by Action Economics. Comments from US Commerce Secretary Wilbur Ross that the initial phase of a trade agreement with China will be ready for signing by mid-month also supported prices, as did positive economic data from China, where factory activity rose at the fastest pace in two years. Earlier in the week, oil prices had declined as Bloomberg reported that Chinese officials were concerned that they may not be able to reach a trade deal with the United States and China was unwilling to make concessions on demands for structural changes to its economy. Worries that the trade war will continue come a day after the US government data showed that stockpiles of crude rose last week, which some in the market saw as a sign that demand for oil is weak. The Energy Information Administration said inventories of crude oil rose by 5.7 million barrels to 438.9 million barrels in the week ended Oct. 25. The data also showed that US stockpiles of crude oil are now about 1% above the five-year average for this time of year. The weekly gain followed a decline of 1.7 million barrels in the prior period, which was the first decrease since early September. This compares with the American Petroleum Institute’s report on Tuesday that US oil inventories fell by 708,000 barrels the previous week, while forecasts called for a rise of about one million barrels. Meanwhile, the number of oil rigs operating in the US fell for the second straight week to remain at a 30-month low. The crude equipment tally fell by five to 691 in the week through Friday to remain at their lowest level since 688 were operating in the week ended April 21, 2017, data from Houston-based energy services firm Baker Hughes (BKR) showed. A year ago, there were 874 oil rigs operating.

Light, sweet crude oil for November delivery fell 1.04% for the week, settling at $54.18 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 1.24% over the five-day period and settled at $1.59 per gallon on Friday. Natural gas was up 9.92% on the week, ending Friday at $2.63 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.30% for the week, compared with a growth of 1.17% in the prior week.

Gold ended Friday at $1,514.80 and the week up 0.54%, with prices gaining support from the Federal Reserve move earlier in the week to cut the target range on its policy lending rate for a third straight time.  Gold saw losses early Friday as the US dollar rose following a better-than-expected jobs report and trade optimism, which reduced the metal’s appeal as a safe haven. On the other hand, copper prices rose during Friday’s session, ending at a settlement price of $2.64 but ultimately closed the week down 0.84% following the upbeat factory activity data from China. The Caixin/Markit’s Manufacturing Purchasing Managers’ Index for October showed that China’s manufacturing output rose to 51.7 last month from 51.4 in September and much better than the 51 reading that economists had predicted in a Reuter’s poll.

In agricultural commodities news, US corn declined on Friday, settling at a price of $3.89 per bushel on worries over possible delays in the crop’s harvest, but managed to eke a weekly gain of 0.19%. Soybeans also ended the week 1.52% higher, closing Friday’s session at $9.37 per bushel as the prospects for a “phase one” trade deal between the US and China once again turned positive. However, Washington’s demand for China to buy as much as $50 billion of US farm products — something Beijing has been reluctant to commit to — could remain a point of contention in future negotiations between the two countries. Meanwhile, wheat ended the week down 0.29%, closing the Friday session at a price of $5.16 per bushel. Other commodities were mostly higher: sugar had a weekly increase of 1.14% and settled at a price of $0.12 per pound on Friday; cocoa was up 0.65% for the week and closed Friday’s session at $2,478 per tonne;  and coffee was around $1.04 per pound at Friday’s close, up 5.04% for the week.

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

The Caixin Manufacturing PMI Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002079 Ex. 12/31/2019

Stryker to Acquire Wright Medical Group in $5.4 Billion Deal to Bolster Position in Devices Industry

3:39 PM, Nov 4, 2019 — Stryker (SYK) on Monday said it has reached an agreement to acquire Wright Medical Group (WMGI) in a $5.4 billion deal that will boost its position in the medical devices industry.

Kalamazoo, Mich.-based Stryker said it would pay $30.75 for each Wright share, giving the transaction a total equity value of $4 billion. The acquisition has a $5.4 billion enterprise value when including the Dutch medical-device maker’s outstanding convertible notes, the companies said in separate statements.

Wright shares soared 32% while Stryker was 2.7% lower in afternoon trading.

“This acquisition enhances our global market position in trauma and extremities, providing significant opportunities to advanced innovation, improve outcomes and reach more patients,” said Chief Executive Kevin Lobo.

Stryker said that Wright’s “lower extremity and biologics will complement Stryker’s portfolio and strengthen the company’s position in this high-growth segment.”

Wright has global sales of nearly $1 billion and is a leader in upper extremities like shoulder, elbow and lower extremities like the foot and ankle. It also has a role in the biologics markets, Stryker said.

The deal, which is poised to close in the second half of next year, is expected to have no impact to Stryker’s 2019 adjusted per-share earnings. Stryker said that assuming a September 2020 closing, the tie-up will have no impact on its adjusted EPS next year, have a $0.10 dilution in 2021, and be accretive after that.

“We believe this transaction will provide truly unique opportunities and will create significant value for our shareholders, customers and employees,” said Wright CEO Robert Palminsano. “By merging our complementary strengths and resources, we will be able to advance our broad platform of extremities and biologics technologies with one of the world’s leading medical-technology companies that share our vision of delivering breakthrough and innovative solutions to improve outcomes.”

Companies: Stryker Corporation
Price: 204.64 Price Change: -8.13 Percent Change: -3.82

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General Electric Shares Surge on Full-Year Cash Flow Guidance, Better-Than-Expected Quarterly Earnings

10:50 AM, Oct 30, 2019 — General Electric (GE) shares surged in early trading on Wednesday after the industrial conglomerate raised its industrial free cash flow guidance and affirmed its earnings outlook for the full year after its third-quarter earnings beat expectations.

Boston-based GE said it now expects industrial free cash flow for 2019 to be flat to up $2 billion, up from its previous guidance of down $1 billion to up $1 billion. It still expects adjusted per-share earnings between $0.55 to $0.65. The consensus compiled by Capital IQ is for $0.60.

For the quarter ended Sept. 30, adjusted per-share earnings rose to $0.15 from $0.11 in the prior-year period and above the Street’s view for $0.12. Total revenue slid to $23.36 billion from $23.39 billion the year before.

GE shares were nearly 13% higher in morning trading.

“Our results reflect another quarter of progress in the transformation of GE,” said Chief Executive H. Lawrence Culp. “We are encouraged by our strong backlog, organic growth, margin expansion, and positive cash trajectory amidst global macro uncertainty.”

Culp said the company lifted its industrial free cash flow outlook for the year despite “external headwinds” due to the grounding of Boeing’s (BA) 737 Max jetliner and tariffs.

Revenue at GE’s power business fell 14% from the year before to $3.93 billion, weighed down by a 17% slide in gas power orders due to order timing while power portfolio orders fell 54% on a non-repeat large order.

Renewable energy revenue rose 13%, driven by a 19% gain in onshore wind orders.

Aviation revenue rose 8% to $8.11 billion as LEAP units drove results. GE said its CFM International jet-engine joint venture with French aerospace company Safran “continues to work closely with Boeing to ensure the timely and safe return to service of the 737 Max.”

Healthcare revenue rose 5% to $4.92 billion as orders firmed 1% while GE Capital reported a $645 million loss. The company said the loss was “driven by the impact of the annual insurance US GAAP premium deficiency test,” and “resulted in a non-cash pre-tax charge to earnings of approximately $1 billion, which was driven largely by discount rates and partially offset by premium rate increases.”

Price: 10.28 Price Change: +1.21 Percent Change: +13.34

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Kellogg Third-Quarter Earnings Beat Views as Sales Weighed Down by Cookies, Snacks Divestitures

1:01 PM, Oct 29, 2019 — Kellogg (K) on Tuesday posted better-than-expected third-quarter results despite sales at the cereal company weighed down by the sale of some of its cookie and snacks businesses.

The Battle Creek, Mich.-based company reported adjusted per-share earnings of $1.03 on a diluted basis for the quarter ended Sept. 28, down from $1.06 in the prior-year period and above the consensus compiled by Capital IQ for $0.91. Net sales slid to $3.37 billion on a reported basis from $3.47 billion last year, ahead of the Street’s views for $3.35 billion.

Kellogg shares were 4.4% higher in early afternoon trading.

“We remain squarely on strategy and on plan, and this is reflected in our third-quarter results,” said Chief Executive Steve Cahillane. “Our reshaped portfolio is doing what it is intended to do, focusing on our higher growth categories and markets.”

Kellogg in late July completed the sale of its cookie businesses, which included the Keebler, Mother’s, Famous Amos and cookies made for the Girl Scouts of America, to Italy’s Ferrero Group in a $1.3 billion deal.

North American snack sales fell 1.4% on a reported basis due to the divestiture, Kellogg said. Cereal sales slid 4.9% “on category softness and only a gradual return to brand building activity following a pack-size harmonization in the first half of the year,” the company said.

Frozen foods edged up 0.5% on “increasing consumer awareness of plant-based meat alternatives and effective commercial programs” for Kellogg’s Morningstar Farms veggie foods, the company said.

European sales fell retreated 1% to $527 million while Latin American sales slid 2% to $244 million. Asia Pacific, Middle East and Africa sales rose 6%.

Price: 63.85 Price Change: +2.79 Percent Change: +4.57

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Weekly Commodities ETF Report: Crude Closes the Week in Positive Territory Following Unexpected Drop in US Inventories; Gold Also Higher Ahead of Fed’s Interest Rate Decision This Week

(MT Newswires) – Crude ended Friday’s session and the week higher, continuing to log gains from the previous week following a surprise drop in US crude inventories. The Energy Information Administration on Thursday said oil inventories unexpectedly dropped by 1.7 million barrels for the week, easing demand worries. This was the first drop in five weeks, while most analysts had expected stocks to rise. The American Petroleum Institute had previously reported a build of 4.45 million barrels in US crude oil inventories for the week ending Oct. 18. Also providing support for crude prices was news of a shutdown of the Forties pipeline system in the North Sea, as well as reports that the Organization of the Petroleum Exporting Countries (OPEC) will consider further production cuts on top of the 1.2 million barrels per day already removed from the market when it and Russia meet in December. Meanwhile, the number of oil rigs operating in the US fell to a nearly 30-month low after posting back-to-back weekly gains. The crude equipment tally fell by 17 to 696 in the week through Friday to the lowest level since 688 were operating in the week ended April 21, 2017, data from Houston-based energy services firm Baker Hughes (BHGE) showed. A year ago, there were 875 oil rigs operating. Concerns over lower demand lingered, however, as weak European manufacturing data released earlier in the week showed demand growth is likely to remain weak as US trade wars continue to cut into global growth, with the International Monetary Fund saying earlier that the global economy is growing at the slowest pace since the financial crisis.

Light, sweet crude oil for November delivery rose 5.40% for the week, settling at $56.23 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 0.73% over the last five days and settled at $1.63 per gallon on Friday. Natural gas was up 4.62% this week, ending Friday at $2.32 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.71% for the week, compared with a decline of 0.92% the prior week.

Gold ended higher on Friday at $1,504.70 and the week up 0.92% despite a stronger US dollar ahead of this week’s decision on interest rates from the Federal Reserve. The gains came as uncertainty over Brexit and weak economic data from the US and Europe pushed investment to gold’s safe haven. However, the possibility of a third cut to US interest rates this year is also driving prices higher. The Fed’s Open Markets Committee meets next week to consider another rate cut as the country’s trade wars cut into global growth. Lower interest rates support the metal because it cuts the cost of owning gold since the metal offers no yield. Meanwhile, copper prices rose, ending Friday’s session at $2.67 and the week, up 1.48% on a possible supply shortage for the red metal, following news of production disruptions in Chile’s copper operations amid political protests in the country. However, gains were offset by continued concerns over the slowdown in the global economy’s growth as well as weak demand for the industrial metal. Additionally, an international organization of copper producing and using countries said that it expects a surplus of the red metal in 2020. The International Copper Study Group said that the copper market is projected to log a surplus of 281,000 tonnes next year, compared with the 320,000 tonnes in deficit in 2019.

In agricultural commodities news, China has pledged to buy at least $20 billion of agricultural products annually as part of the partial trade deal it will sign with the US, according to a report on Bloomberg Thursday. According to sources, the East Asian Country is also considering more purchases — as much as $40 billion to $50 billion — in the future rounds of the trade negotiations. Wheat ended the week down 2.69%, closing the Friday session at a price of $5.18 per bushel; soybeans were down 1.18% for the week, and closed Friday at $9.20 per bushel; and corn for December delivery fell 0.70% in the week and settled at $3.87 per bushel in Friday’s session. Other commodities were mostly higher: sugar had a weekly increase of 0.16% and settled at a price of $0.12 per pound on Friday; cocoa was down 1.65% for the week and closed Friday’s session at $2,435 per tonne;  and coffee was around $0.99 per pound at Friday’s close, up 3.71% for the week.

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002079 Ex. 12/31/2019

Goodyear Tires Shares Rise Despite Weaker-Than-Expected Third-Quarter Results

1:28 PM, Oct 25, 2019 — Goodyear Tire & Rubber (GT) shares popped Friday even after the tire company reported third-quarter results that missed expectations.

Sales at Akron, Ohio-based Goodyear fell to $3.8 billion in the quarter ended Sept. 30 from $3.93 billion in the prior-year quarter and below the consensus compiled by Capital IQ for $3.92 billion. Adjusted per-share earnings fell to $0.45 from $0.68 last year, missing the Street’s view for $0.52.

Goodyear shares were up 9% in afternoon trading.

CFRA still raised its 12-month price target on the stock by $3 to $18. “While GT’s Q3 results missed, we think investor expectations were low given its recent earnings track record (four misses in the past five quarters), so we think investors will take the miss in stride,” the investment firm said. “More importantly, GT should have significantly easier comps ahead and lower oil prices should help support margins.”

Chief Executive Richard Kramer said in the Americas the company saw “continued strength in our US consumer replacement business and solid growth in Brazil, giving us positive momentum in these important markets as we head into the final months of the year.”

The business in the Asia Pacific region “improved in the quarter as we benefited from the launch of several OE fitments in China, which helped mitigate the impact of lower auto production,” Kramer said.

Goodyear said sales in the Americas slid 3% from last year to $2.05 billion as tire unit rose 1%. Replacement tire shipments rose 3%, led higher the US and Brazil. Original equipment unit volume fell 7%, dragged lower by lower vehicle production in the US due to the labor strike at General Motors (GM).

Europe, Middle East and Africa sales fell 7% to $1.21 billion, largely due to foreign exchange headwinds. Tire unit volume slid 6% while replacement tire shipments fell 5% on decreased industry demand and distribution challenges. Original equipment volume fell 9% on lower vehicle production.

Kramer said business conditions in Europe were weaker than the company expected on “an adverse impact from lack of alignment in our distribution channels.” Goodyear will speed up its plans to “rationalize distribution in the region” early next year,” he said.

Kramer said the moves “should improve the focus on our brands and ensure that we capture the full benefits of the investments we are making to increase the supply of premium, high-margin tires over the next few years.”

Sales in the Asia Pacific region rose 3% to $548 million as tire unit volume increased 5%, driven higher growth in China. Replacement tire shipments rose 7%, and original equipment volume gained 2%.

Price: 16.51 Price Change: +1.37 Percent Change: +9.02

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Microsoft First-Quarter Results Beat Expectations as Cloud Sales Surge

7:00 AM, Oct 24, 2019 — Microsoft (MSFT) posted better-than-expected results for its fiscal first quarter after markets closed on Wednesday, buoyed by double-digit growth in its commercial cloud offering.

The Redmond, Wa.-based company reported revenue of $33.06 billion, up 14% from the corresponding quarter of the prior year. This was comfortably ahead of the consensus estimate of analysts polled by Capital IQ for $32.2 billion.

Revenue in Productivity and Business Processes was $11.1 billion and increased 13%. Revenue in Intelligent Cloud was $10.8 billion and increased 27%. Revenue in More Personal Computing was $11.1 billion and increased 4%.

Earnings per share rose to $1.38, up from $1.14 a year earlier, sailing past the Street’s projection of $1.24 per share.

“It was a strong start to the fiscal year with our commercial cloud generating $11.6 billion in revenue for the quarter, up 36% year over year,” Amy Hood, chief financial officer of Microsoft, said.

Microsoft returned $7.9 billion to shareholders in the form of dividends and share repurchases in the first quarter of fiscal year 2020, an increase of 28% compared to the first quarter of fiscal year 2019.

Companies: Microsoft Corporation
Price: 138.65 Price Change: +1.41 Percent Change: +1.03

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McDonald’s Shares Slide on Third-Quarter Earnings, Revenue Miss as Comparable Sales Beat Views

10:06 AM, Oct 22, 2019 — McDonald’s (MCD) shares slid after the fast-food giant reported third-quarter revenue and earnings that missed expectations while comparable sales edged past views.

The Chicago-based company’s revenue in the quarter rose to $5.43 billion from $5.37 billion in the prior-year period, below the consensus compiled by Capital IQ for $5.47 billion. Per-share earnings on a diluted basis rose a penny from last year on a GAAP basis to $2.11, below the Street’s view for $2.22.

Global comparable sales rose 5.9%, above the Street’s view for 5.5%.

McDonald’s shares were 2.7% lower in early trading.

“Our third-quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable-sales growth,” said Chief Executive Steve Easterbrook. “Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often.”

Sales at company-operated restaurants slid 4% from last year to $2.42 billion while revenues from franchised restaurants rose 5% to $3.01 billion.

International operating comparable sales rose 5.6% while the US gained 4.8%. The international developmental licensed segment comparable sales popped 8.1%.

Companies: McDonald’s Corporation
Price: 204.19 Price Change: -5.66 Percent Change: -2.70

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Weekly Commodities ETF Report: Crude Ends Week Lower on Weak China Q3 Gross Domestic Product (GDP); Gold Logs Marginal Gains on Uncertainty Over Fed Rate Cut

(MT Newswires) – Crude ended Friday’s session and the week lower, as China reported that its economy grew at the slowest pace in nearly three decades. China — the largest crude importer in the world — said its economy grew by 6% in the third quarter, the slowest pace in 27 years as the 15-month long trade war with the United States continued to bite. Earlier in the week, oil had been trading lower but rose briefly following news of a temporary ceasefire deal between the US and Turkey, allowing 120 hours for Kurdish forces to retreat further into Syria. The news helped ease Middle East tensions, which have been strained since Turkey’s incursion into Syria. Back home, the Energy Information Administration on Thursday said stockpiles of commercial crude in the US rose by 9.3 million barrels in the week through Oct. 11 to reach 434.9 million barrels, sending inventories about 2% above the five-year average for this time of year. The build was also three times more than expected, though gasoline and distillate inventories fell due to refinery maintenance.  Industry experts polled by S&P Global Platts had been expecting a 4.0 million-barrel build last week while the American Petroleum Institute late Wednesday reportedly said inventories increased by 10.5 million barrels.  The government data was released a day later than usual due to the Columbus Day federal holiday on Monday. Meanwhile, the number of oil rigs operating in the US rose by one to 713 in the week that ended on Oct. 18, hovering near its lowest level since May 2017, according to data compiled by energy services firm Baker Hughes (BHGE) on Friday.

Light, sweet crude oil for November delivery fell 2.13% for the week, settling at $53.93 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.44% over the five-day period and settled at $1.62 per gallon on Friday. Natural gas was up 6.12% for the week, ending Friday at $2.32 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) declined .92% this week, compared with an increase of 2.03% the prior week.

Gold ended lower on Friday at $1,498.30, despite a weaker US dollar and lower stock markets as uncertainty continued over whether the Federal Reserve (Fed) will cut interest rates once again when it meets on Oct.30. However, the yellow metal managed to log modest gains of 0.36% for the week. Investors remain unsure whether a third cut to interest rates will come from the Fed after minutes of the last meeting showed some governors strongly opposed to cuts. Earlier in the week, gold had seen gains as concerns grew that a tentative deal between the United Kingdom and the European Union will again be blocked by a hostile Parliament. British Prime Minister Boris Johnson said he reached a deal for an orderly departure from the European Union, though doubts remain that he can get Parliament’s approval for the pact, particularly after the Northern Irish Democratic Unionist party said it would not support the deal. Meanwhile, copper prices rose, ending Friday’s session at $2.60 and the week, up 0.57%. The gains came on the back of upbeat Chinese data on property and infrastructure growth. Property investment in the East Asian country grew 10.5% in the first nine months of 2019, infrastructure investment rose 4.5% and industrial output beat expectations at 5.8% in September. Analysts are optimistic that China will implement more stimulus measures in Q4 to spark further growth in the real estate and infrastructure sectors.

In agricultural commodities,  wheat rose for seven weeks in a row, and on Thursday hit a three-month high,  as cold weather in the US grain belt threatened supplies of the grain.  On the other hand, dry weather in other countries like Argentina and Australia is expected to lower world wheat supplies. Wheat ended the week up 4.12%, closing the Friday session at a price of $5.32 per bushel. Meanwhile, soybeans were down 0.05% for the week, and closed Friday at $9.34 per bushel; and corn for December delivery fell 1.95% in the week and settled at $3.91 per bushel in Friday’s session. Other commodities were mostly weaker: cocoa was down 1.27% for the week and closed Friday’s session at $2,486 per tonne; sugar had a weekly decline of 0.81% and settled at a price of $0.12 per pound on Friday; and coffee was around $0.96 per pound at Friday’s close, up 2.52% for the week.

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002079 Ex. 12/31/2019