In the headlines Nov 1: PBR, WYNN, MSFT, ATVI, GSK

Windfall Profits Tax

Biden threatens 'windfall' profits tax on oil companies but is likely to face opposition in Senate unless Democrats make unexpected gains in mid-term elections.

Penguin Random House's acquisition of Simon & Schuster

Federal judge blocks Penguin Random House's acquisition of Simon & Schuster. Citing the proposed merger's effect may substantially lessen competition in the market for the US publishing rights to anticipated top-selling books.

Petrobras Oil Discovery

Petroleo Brasileiro ADR Reptg 2 (NYSE: PBR) confirms the discovery of oil in the co-participated area of Sépia in the northwestern part of the field. 

The net oil column is one of the thickest ever recorded in Brazil. The consortium will continue operations to characterize the reservoirs' conditions and verify the extent of the discovery. OGI

Meanwhile, JPMorgan downgraded Petrobras to Neutral from Overweight, showing cautiousness about the new administration after Lula's victory in Brazil's presidential election.

Wynn Resorts (NASDAQ: WYNN)

Wynn Resorts (NASDAQ: WYNN) stock surges after billionaire Tilman Fertitta takes a 6.1% stake in the hotel and casino company, operator of successful properties in Macau and on the Las Vegas strip.

Fertitta becomes the second-largest individual investor in Wynn.

His holdings include Golden Nugget Casinos and Houston Rockets.

MSFT ATVI Acquisition

In relation to Microsoft's (NASDAQ: MSFT) proposed acquisition of Activision Blizzard Inc (NASDAQ: ATVI), Microsoft was cited as saying:

Sony, as the industry leader, says it is worried about Call of Duty, but we've said we are committed to making the same game available on the same day on both Xbox and PlayStation. 

GSK plc (NYSE: GSK)

China bars GSK (NYSE: GSK) from bulk-buy drug program for 18 months.

Q3 Earnings Continue

This is another peak week of Q3 earnings season, with 167 S&P companies reporting.

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