Enbridge Expects 2018 DCF/shr In Upper Half Of Guidance; Raises 2019 Dividend

Enbridge Inc. (ENB.TO, ENB) announced the company continues to expect 2018 DCF per share in the upper half of its guidance range of $ 4.15 to $ 4.45 per share. The 2019 and 2020 mid-point of the projected range of DCF is unchanged from last year at $ 4.45 per share and $ 5.00 per share, respectively. Beyond 2020, Enbridge is targeting to achieve annual DCF per share growth in the range of 5%-7%.
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Kohl’s Corp. Q3 Profit Tops Estimates, Comps. Up 2.5%; Raises Guidance

Kohl’s Corp. (KSS) reported third-quarter earnings per share, excluding loss on extinguishment of debt, of $ 0.98, an increase of 40% year-over-year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $ 0.96 for the quarter. Analysts’ estimates typically exclude special items. Reported net income was $ 161 million compared to $ 117 million, previous year. Gross margin was 37.0%, up 25 bps from prior year.
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Hedge fund Elliott raises pressure on Mitek after takeover bid rejected

Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc to scrap a so-called “poison pill” to let it buy more stock and said it may press for board changes after the software company took…


Reuters: Wealth

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First rain in months douses California wildfire, raises risk of mudslides

The first significant rain in months in northern California all but extinguished the deadliest wildfire in the state's history on Wednesday, but also raised risks of flash flooding.
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Citymeals on Wheels Raises Nearly $1.2M

Citymeals on Wheels this week hosted its 32nd Annual Power Lunch for Women fund-raiser, raising nearly $ 1.2 million.
Fashion supporters of the benefit include Chanel, Dr. Patricia Wexler, Marcy Syms, Patti Cohen, Michael Kors, John Pomerantz, Georgina Chapman, Marigay McKee, Tamara Mellon, Jan Singer and Iman.
This year’s honorees include Kathie Lee Gifford, co-host of the fourth hour of “The Today Show;” Jessica Lappin, president of the Alliance for Downtown New York, and Derek Blasberg, YouTube’s Director of Fashion and Beauty. Gifford brought attendees to tears with her speech about the need to give back. An anonymous donor agreed to donate up to $ 1 million through the matching of donations starting at $ 10,000. Gifford kicked off the fundraising round with a $ 50,000 donation.
Mellon provided three styles from her eponymous line — Frontline, Icon and Siren — for auction. Skin care line Valmont provided a gift basket for auction and $ 2,500 toward a facial. Another option provided for auction was a Power Lunch with honoree Blasberg for breakfast, lunch or tea at Tiffany & Co.’s The Blue Box Café.
Actress Jane Krakowski was the emcee for the event, which included a reading of letters from meals recipients by Iman, and actresses Kathleen Turner and

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Coinbase Raises $300 Million, Cites Prospect of ‘Thousands’ of Crypto Assets

Coinbase, the most popular cryptocurrency exchange in the U.S., announced on Tuesday a massive Series E funding round that values the company at $ 8 billion.

The company announced the $ 300 million investment in a blog post, which said the financing is being led by New York-based Tiger Capital, and will be used to accelerate global expansion and the offering of more cryptocurrencies.

“We see hundreds of cryptocurrencies that could be added to our platform today and we will lay the groundwork to support thousands in the future,” wrote Coinbase Chief Operating Officer Assif Hirji in the post.

Currently, Coinbase only offers Bitcoin and a handful of other cryptocurrencies, in part due to concerns that many digital currencies may be securities that must be registered with the Securities and Exchange Commission.

The latest funding round, which follows a $ 100 million round in August of 2017, is being led by New York-based Tiger Global with contributions from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain Capital among others.

A source close to Coinbase told Fortune the company will also be bringing on other investors in the near future via a secondary offering worth $ 200 million or more. This offering would serve as a vehicle for some employees and early investors to cash in their shares, and would not change the overall amount of capital raised by Coinbase.

The Series E funding round also points to Coinbase possibly going public in 2019. While the company hasn’t discussed a specific timeline to go public, CEO Brian Armstrong recently stated he would like to run a public company.

In Search of New Revenue Streams

As Fortune reported in September, Coinbase is profitable but has seen a sharp drop-off in trading volume in 2018, which has made it more pressing for the company to look for other sources of revenue.

One source of income is likely to be custodial fees from big institutions that turn to Coinbase to hold cryptocurrency on their behalf. The company has long talked about bringing on such investors, and last week announced a key regulatory license to serve as a custodian.

Another future source of revenue for Coinbase could come from listing so-called security tokens, including those tied to conventional assets such as private shares or real estate. The market for such tokens is still nascent but prominent technology figures, including former PayPal executive David Sacks, are betting on them as a way to bring new capital to illiquid markets.

Coinbase declined to provide further detail about Hirji’s reference to the possible addition of “hundreds” and “thousands” of cryptocurrencies to the company’s platforms, including whether these might comprise registered security tokens. It’s also possible Hirji’s comment implies that Coinbase plans to dramatically ramp up its cryptocurrency offerings in markets outside of the U.S. where security regulations are more lax.

The blog post also noted Coinbase will use the new funding round to support new products like a recently-announced “Stablecoin,” which is pegged to the U.S. dollar, and a tool called Coinbase Wallet that helps consumers explore blockchain-based applications.

“Coinbase is, and will remain, a crypto-first company,” stated Hirji. “We see Coinbase’s growth as validation that the ecosystem will only continue to grow in size, influence and impact–ultimately ushering in a more open financial system for the world.”

Fortune

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Amphenol Raises FY18 Outlook – Quick Facts

While reporting its third-quarter financial results, Amphenol Corp. (APH) said that for the full year 2018, the company now expects to achieve sales in a range of $ 8.040 billion to $ 8.080 billion, an increase over 2017 of 15 percent, as well as adjusted earnings per share in a range of $ 3.68 to $ 3.70, an increase over 2017 of 18 percent to 19 percent.
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Beto O’Rourke Raises $38 Million in Third Quarter, Biggest Haul for Senate Candidate Ever

Gary Miller

Rep. Beto O’Rourke, the El Paso Democrat challenging incumbent Republican Sen. Ted Cruz had the single largest fundraising quarter in a Senate race ever, his campaign said Friday.

O’Rourke raised more than $ 38 million in the third quarter of 2018 from 802,836 individual contributions. Not only did the haul break previous records for Senate candidates, it also outpaced previous quarters where he raised more money than Cruz.

“The people of Texas in all 254 counties are proving that when we reject PACs and come together not as Republicans or Democrats but as Texans and Americans, there’s no stopping us,” O’Rourke said in a statement. “This is a historic campaign of people: all people, all the time, everywhere, every single day — that’s how we’re going to win this election and do something incredible for Texas and our country at this critical moment.”

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