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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning from the last day of WSJDLive, where we will be interviewing IBM CEO Ginni Rometty, Salesforce CEO Marc Benioff and others. Follow our live coverage here.
Apple Drops
Apple posted its first annual revenue decline in 15 years but projected a return to growth in the current quarter behind strong sales of its new iPhone 7. The tech giant’s formula for success proved less effective in the past year amid lukewarm sales of iPhone 6S models and slowing growth in smartphone sales world-wide, especially in China, Apple’s biggest growth market in recent years. For its fiscal fourth quarter, ended Sept. 24, Apple reported its third consecutive decline in revenue and profit. But CEO Tim Cook touted the response to the iPhone 7, released in September, as well as improvements in the company’s services business as evidence of enduring strength. Still, Apple’s revenue outlook for the December quarter isn’t quite good enough for investors who have sent the stock up by 10% since Apple unveiled the iPhone 7 last month.

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The Battle for the Sunshine State
The struggle for the White House and the Capitol took center stage this week in one familiar battleground—Florida—as Donald Trump and Hillary Clinton swept across the state. Mr. Trump has spent more money advertising on television in Florida than anywhere else and devoted the last three days to a tour that took him to seven of Florida’s 10 media markets. Long a presidential swing state, Florida also features a Senate race that could determine which party controls that chamber, and four of the most competitive House races, which could be key to the GOP keeping control there. In other political news, we report that GOP congressional campaign ads are pitching candidates as a check on a Clinton White House, while the NRA has spent big in its bid to aid Mr. Trump.
Aleppo Delenda Est
A look at the destruction of Aleppo, Syria, shows food running short and graveyards full. Some 300,000 people in the rebel-held, eastern side of the divided city are struggling under a blockade the Assad regime imposed in July that has kept them from getting food, fuel and medicine. Heavy bombing by the regime and its ally Russia has brought the city to a breaking point after more than five grinding years of civil war. Secretary of State John Kerry has compared the destruction to Carthage, which was razed by the Romans in 146 B.C. Damage has accelerated as a result of the renewed offensive using increasingly destructive weapons. “There are no more panes of glass left in Aleppo,” says the head of a local charity, referring to blown-out windows. The coming winter, with temperatures typically near freezing, is raising fears.
A Room of Their Own
As children enter their teens, it can be a challenge to keep them close—but not so close that they feel they lack independence. A solution to this parenting problem can be very concrete: simply making room at home. But the perfect “teen cave” is about more than interior-design elements. When smartly done, it can have features that help parents do their job, from doors that don’t lock to entrances through the kitchen that force interaction. At the same time, we offer tips to ensure the space offers enough privacy and enticing features that teens want to be there. Middle school is a good time to set aside a teen hangout space, says one parenting coach, and inviting their friends over gives teens a chance to practice social skills and learn to be a host.
TODAY'S VIDEO
Top Tech Trends for 2017
That Was Painless
Activate CEO and co-founder Michael Wolf explained why the driver of tech and media growth is shifting from advertising to subscriptions in his WSJDLive presentation of the most important insights in tech and media for 2017.
TOP STORIES
U.S.

National Intelligence Director Says Data Suggests ‘Nonstate Actor’ Was Behind Cyberattack

Voters to Decide How Much to Demand for Public Subsidies
WORLD

Police Academy Attack Shows New Security Threat to Pakistan

Allies Set Sights on Raqqa in Battle Against Islamic State
BUSINESS

AT&T CEO Says Time Warner Deal Not About Raising Prices

Deal Making Preserves Coors Clan as American Beer Dynasty
MARKETS

IPO Market Is Finally Looking Up Again

Arbs Stay on Sidelines of AT&T-Time Warner Deal
NUMBER OF THE DAY
70 years
The term of Austria’s newest bond, issued Tuesday—the longest-dated publicly issued government bond in the eurozone and the latest example of how central banks’ easy-money policies are prompting issuers to secure cheap borrowing for many decades ahead.
QUOTE OF THE DAY
I am aware that there’s a baseball game going on 45 miles away.
One nervous Cubs fan who is going to extreme lengths to avoid the stress of a World Series. Meanwhile, for less anxious Cubs supporters, the cheapest way to attend the series is to drive to Cleveland.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on Apple’s first annual revenue decline in 15 years? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s question on passive funds gaining leverage over corporate boards, Max Cardin of Maryland wrote: “Professions often cloak simple ideas with technical jargon to create a perceived need for their services. This artificial barrier of entry to the financial services market exists on a rocky foundation, which is beginning to crumble. In the long-run, time always wins. Boardrooms and the public at large are waking up to this realization, hopefully ushering in an era of transparency, simplicity, and sustained long-term investment growth.” Joe Williams of Kansas said: “‘Yes’ to passive investing. ‘No’ to passive owners. Concentration of power should always be suspect, but someone must represent the interest of the people inside those funds. Owners that are passive in a capitalist society lead to rogue, overcompensated, under-performing management.” And Slade Howell of North Carolina commented: “Fund managers of ETFs and index funds are currently in the driver’s seat. With the recent lack of volatility, these funds attract investors with low fees and continue to gain the capital necessary for the operation of corporate America. Where the money flows, so flows the influence. However, when volatility returns to the market, and animal instincts reemerge, stock ‘pickers’ and ‘timers’ will also reemerge to resume the hostile assault of these boards in very specific ways.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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