European Economics Preview: Eurozone GDP Data Due

Quarterly national accounts data from the euro area is due on Thursday, headlining a hectic day for the European economic news.

At 3.00 am ET, Destatis is scheduled to release Germany’s retail sales data. Sales are forecast to grow 0.2 percent on month in September, following a 0.5 percent rise in August.

At 3.45 am ET, France flash inflation figures are due. Economists forecast inflation to remain unchanged at 0.9 percent in October.

At 4.00 am ET, Spain’s INE is set to issue preliminary GDP data. Economists forecast the economy to grow 0.4 percent sequentially in the third quarter.

At 5.00 am ET, Italy’s unemployment data is due. The jobless rate is seen at 9.6 percent in September versus 9.5 percent in August.

At 6.00 am ET, Eurostat publishes third quarter GDP data, flash inflation and unemployment figures. The euro area is forecast to grow 0.1 percent after expanding 0.2 percent in the second quarter.

Eurozone inflation is seen at 0.7 percent in October versus 0.9 percent in September. The jobless rate is expected to remain unchanged at 7.4 percent in September.

At 7.00 am ET, Italy’s Istat is set to issue preliminary GDP data. Economists forecast the economy to remain flat in the third quarter.

Baidu stock gains 5%, as company beats revenue expectations

American depositary shares of Baidu Inc. BIDU, -0.64% gained more than 4.5% in the extended session Wednesday after the company beat sales expectations. The Chinese tech company reported a third-quarter net loss of RMB6.37billion ($892 million), or $2.57 a share. Adjusted for one-time items, earnings per ADS were $1.76. Baidu said its third-quarter losses include a non-cash impairment of RMB8.9 billion due to change in valuation in equity investments. Revenue rose 3% to RMB28.1 billion ($3.93 billion), compared with the year-earlier period. For the fourth quarter, Baidu said it expects revenue of $3.78 billion to $4.02 billion. Analysts polled by FactSet had expected adjusted earnings per ADS of $1.16 on sales of $3.94 billion. For the fourth quarter, analysts expect adjusted earnings of $1.22 per ADS and sales of $3.97 billion. Baidu shares have fallen 32% this year, as the S&P 500 index SPX, +0.07% has gained 23%.

Cannabis real estate company’s revenues rise more than 200%, stock gains 5%

Innovative Industrial Properties Inc. IIPR, -5.87% shares rose nearly 5% in the extended session Wednesday after the cannabis real estate investment company reported profits of $6.2 million. Earnings were 55 cents a share, up from 21 cents a share in the year-ago period. Revenue rose more than 200% to $11.6 million. Innovative Industrial Properties does not have enough analyst coverage to report reliable consensus estimates. The real estate company’s stock has gained 60% this year as the ETFMG Alternative Harvest ETF MJ, -1.99% has fallen 23%.

Stunning house in ‘Boardwalk Empire’ returns after price chop

A “reel” estate investment is now on the market for $7.51 million following a price drop and broker swap.

The parlor floor of the townhouse at 108 Eighth Ave. in Park Slope was used for scenes in HBO’s “Boardwalk Empire” and in the Martin Scorcese film “The Age of Innocence.”

(The seller, we hear, liked the HBO’s set designer’s work so much that she kept the wallpaper.)

The five-story, 8,014-square-foot home comes with five bedrooms, 5½ bathrooms and three outdoor decks. It was priced at $8.8 million in 2018.

A legal two-family home, it is currently configured as a single-family dwelling. It was originally built in 1900.

The entrance features a floor-to-ceiling glass and wrought-iron entry wall that gives a view of a floor-to-ceiling mirrored mantel above a gas-burning fireplace. Original details include wainscoting, a stained glass skylight and original wall tapestries.

As for other perks, there’s a two-story kitchen with stainless steel appliances, a library, a formal dining room with coffered ceilings, a music room with a crystal chandelier and two sets of stained glass windows from the studios of Frank Lloyd Wright.

The listing brokers are Citi Habitats’ John Wysocki and Zac Flynt.

Facebook Says Roughly 100 App Developers May Have Leaked User Data

About 100 third-party apps may have had access to certain Facebook user data, including information like the names and profile pictures of individuals in certain Facebook Groups, the company revealed.

“As part of our ongoing review, we recently found that some apps retained access to group member information, like names and profile pictures in connection with group activity, from the Groups API, for longer than we intended,” the company said in a blog post.

The company did not detail the type of data that was improperly accessed beyond names and photos.

The company said it has since removed their access. Facebook also reached out to about 100 app developers who may have accessed this information since the company announced restrictions to the Groups API.

Facebook said it knows that at least 11 partners accessed group members’ information in the last 60 days. The company said it will ask them to delete any member data they may have retained and we will conduct audits to confirm that it has been deleted. Facebook said there was “no evidence of abuse.”

“The new framework under our agreement with the FTC means more accountability and transparency into how we build and maintain products. As we continue to work through this process we expect to find more examples of where we can improve, either through our products or changing how data is accessed. We are committed to this work and supporting the people on our platform,” Facebook wrote in the blog post.