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International stocks are higher this morning as EU and UK negotiators have agreed a new Brexit deal, leaving Boris Johnson with the challenge of selling the accord to political allies at home. The text of the deal was being shared with national capitals ahead of a key leaders’ summit in Brussels later on Thursday. The UK prime minister is still struggling to win political backing for the accord - raising questions over Mr. Johnson’s ability to clinch support for the deal in the Westminster parliament — an issue that is likely to hang over the upcoming leaders’ summit.  But, reaching an agreed text represents a big leap forward for Mr. Johnson following weeks of inconclusive talks between UK and EU negotiators. Mr. Johnson will ask EU leaders tonight not to offer another Brexit extension. (FT)

 

Netflix jumped double digits in after-hours trading after its Q3 earnings showed a rebound from poor subscriber results in Q2, even while it hinted toward hotter competition in coming quarters. The company added 6.77M net subscribers vs. last quarter's 2.7M, and said forward guidance accounted for pressure from upcoming services such as Disney Plus, Apple TV Plus, AT&T's HBO Max, and NBC's Peacock.  But the potential market is large, Netflix said, and "we are all small compared to linear TV". (SA)

 

Nestle said it will start a new stock buyback program in January and may complement it with special dividends, seeking to return as much as $20B to shareholders by 2022. The news comes as the company also reported YTD sales rose 3.7%, in line with analyst estimates, helped by Starbucks-branded coffee for Nespresso machines and Purina pet food. Nestle also signals it is ramping up its M&A focus as it unveils a new management group to seek out growth opportunities, and says it is restructuring its bottled water unit - where YTD sales have slipped - to focus on faster growing brands such as Perrier and S. Pellegrino. (WSJ)

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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