Category: Business News

Greece still does not have a deal but that hasn’t stopped the market from making gains in the last 2 session. Subscribe to KCRA on YouTube now for more: http://bit.ly/1kjRAAn

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A group of British start-up companies are trying to disrupt the food takeaway business, by making it easier for restaurants to deliver, that wouldn’t normally consider it.

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May 29, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2015

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015

On Monday, markets were closed for the Memorial Day holiday.

On Tuesday, durable goods orders for April were down .5%, however, excluding transportation they were up .5%. Both numbers were consistent with expectations. The Case-Shiller home price index for March showed some healthy gains of 1% month-to-month and 5% year-over-year.

New home sales for April were up 6.8% and consumer confidence for May was up to 95.4 compared to 94.3 for the prior month. All of these numbers painted a picture of a strengthening economy, and then markets proceeded to sell off upon fears that the Fed will raise interest rates sooner rather than later. By the end of the day, the major indexes were down over 1%.

However, on Wednesday, Nasdaq rose 1.5% back up to a new record closing high, and the Dow Industrials and S&P 500 also recovered from most of their prior day’s losses.
On Thursday, jobless claims for the week ending May 23rd were up 7,000 to 282,000, and pending home sales for April jumped 3.4%, up for the fourth straight month and exceeding analysts’ expectations. At the end of the day, markets were down slightly.

On Friday, the first revision of the first quarter’s GDP was released and it came in at -.7%, down from the original reading of .2%. Stock opened lower on the news.

Now let’s take a look at some stocks.

Charter Communications, Inc. announced Tuesday that they will acquire Time Warner Cable for billion. The proposed acquisition comes after Comcast’s bid of billion which couldn’t get regulatory approval. If Charter’s proposal finalizes, the newly combined company will be country’s second largest cable operator.

GoPro, Inc. shares gained as much as 7% Thursday after the company revealed they will be entering the virtual reality market as well as the recreational drone market. At the moment, GoPro is developing a 360-degree virtual reality camera that is expected to hit markets in July while their first-generation drone will be available by the first half of 2016.

Express Inc. shares shot up and reached a new 52-week high Thursday after the apparel company reported better-than-expected first quarter results. Express posted earnings of {videoDescription}.22 per share on revenue of 2 million, while analysts had expected earnings of only {videoDescription}.14 per share on revenue of 8 million.

Avago Technologies Limited has agreed to acquire Broadcom Corp. for billion, in what could be the largest deal ever in the semiconductor industry. If the merger were to pass all necessary hurdles, Avago will become the third largest semiconductor manufacturer; giving the company enough power to compete with larger competitors like Intel and Qualcomm.

Abercrombie & Fitch Co. shares were up as much as 12% Thursday after their first quarter earnings showed signs of recovery as sales improved. Abercrombie is currently revamping their business model as it attempts to transition their apparel lines to cater to the new tastes of their demographic.

May 29, 2015 Weekly Stock Market Wrap-up:

GoPro Inc(NASDAQ:GPRO)

Charter Communications, Inc.(NASDAQ:CHTR)

Express, Inc.(NYSE:EXPR)

Avago Technologies Ltd(NASDAQ:AVGO)

Abercrombie & Fitch Co.(NYSE:ANF)

Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
http://www.financialbuzz.com

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June 5, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2015

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015

On Monday, the ISM manufacturing index for May came in at 52.8, up about 2.5% from the previous month, better than expected but still considered weak, personal income for April was up .4%, and consumer spending for April was unchanged. In other words even though consumers made more money, they didn’t spend it. Construction spending for April was up 2.2% to an annual rate of trillion, the highest level in over 6 years. As a result, markets closed up slightly.

On Tuesday, factory orders for April were down .4%, still weak and below expectations. However, total vehicle sales for May were extremely strong, coming at 17.8 million units, the best numbers since 2005. The mixed economic news, along with Greece’s claims that it can’t make its debt repayment to the IMF on Friday, pushed markets slightly lower.

On Wednesday, the ADP employment report for May was 201,000, about in line with expectations, and the ISM non-manufacturing index for May was down 3.6% to 55.7, again, within expectations. The U.S. trade deficit fell to .9 billion in April, down .7 billion from the prior month, however, the prior month’s number was distorted due to a port strike. Bonds rallied significantly with the 10-year treasury hitting 2.38%, and markets closed up modestly.

On Thursday, jobless claims for the week ending May 30th were 276,000, down 8,000, and non-farm productivity for the first quarter fell 3.1%, while unit labor costs during the same period rose 6.7%. Markets ended the day significantly lower.

On Friday, the non-farm payroll report for May showed a gain in jobs of 280,000, up 59,000 from the prior month and the unemployment rate went up .1% to 5.5%. The jobs number was a big surprise on the upside. Stocks were down slightly on the news, while bond yields shot up.

Now let’s take a look at some stocks.

Intel Corporation announced Monday that they will acquire competing chip maker Altera, for per share in a deal worth .7 billion. Intel is seeking to expand their product-line with the acquisition; Intel’s chips currently are used mostly in personal computers whereas Altera manufactures chips that are programmable by users after they purchase the hardware.

LinkedIn Corporation shares rallied this week following rumors that activist investors expressed interest in picking up a stake in the company. Shares are up more than 5% since last week’s close of almost 5.

FireEye, Inc. shares shot up 2.9% Thursday, to above , after they announced a partnership with Visa with the intention of preventing future cyber-attacks on payment data. FireEye also offered an outlook that stated the company will be cash-flow positive by mid-2016.

Bio-Reference Laboratories Inc. shares soared as much as 35% on Thursday after the company signed a merger agreement with Opko Health Inc. The merger will cost Opko approximately .5 billion, or .58 per share, and will allow Opko access to Bio-Re

June 5, 2015 Weekly Stock Market Wrap-up:

Intel Corporation(NASDAQ:INTC)

LinkedIn Corp(NYSE:LNKD)

FireEye Inc(NASDAQ:FEYE)

Bio-Reference Laboratories Inc(NASDAQ:BRLI)

Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
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KCRA 3 financial expert Kelly Brothers has the latest business news. Subscribe to KCRA on YouTube now for more: http://bit.ly/1kjRAAn

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May 22, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2015

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015

On Monday, no major economic news was released, but both the Dow Industrials and the S&P 500 closed at record highs, bolstered by the apparent reluctance of the Fed to rush to raise interest rates.

On Tuesday, another record high close for the Dow, however, it was a small gain and the S&P 500 and NASDAQ were down slightly. Housing starts for April were unexpectedly strong, up 20% and new home permits were up 10%, some of the best numbers seen in the housing sector in over 7 years. The dollar rose more than 1% against the Euro.

On Wednesday, the Fed minutes from its last meeting were released, pleasing markets with the fact that the majority of Fed members don’t see a need to raise rates in June. Fed members also considered the weak growth of the first quarter to be an anomaly, due to bad weather, a port strike, and the plunge in oil prices. Markets didn’t do much on the news and closed mixed.

On Thursday, jobless claims for the week ending May 16th increased by 10,000 to 274,000, the Markit PMI manufacturing flash index declined slightly in May to 53.8, compared to 54.2 in April, and existing home sales for April were down 3.3%, below expectations as analysts were expecting a 1% gain. Despite the mixed economic news, markets closed slightly higher, with the S&P 500 eking out another record high.

On Friday, the consumer price index for April rose .1%, in line with expectations. However, the core figures, which excludes foods and energy cost, rose a strong .3%. Markets opened mixed on the news.

Now let’s take a look at some stocks.

Alibaba Group Holding Limited shares were under pressure early this week before beginning to rally Wednesday after the Chinese e-commerce company was sued by several luxury brands, including Gucci and Yves Saint Laurent, for profiting from sales of counterfeit goods. At the same time, Taiwanese authorities have ordered Alibaba’s online marketplace, Taobao, to halt operations for failing to apply for the proper permits as a mainland Chinese company.

Yahoo! Inc. shares tanked at the end of Tuesday following an announcement that the IRS might be changing regulations that will complicate Yahoo’s plan of spinning off their stake in Alibaba. The new regulations might require a minimum size for active businesses inside a spun-off company.

eBay’s stock fluctuated erratically on Wednesday after regulators accused eBay’s PayPal business of illegally registering consumers for an online credit product. The Consumer Financial Protection Bureau has ordered the company to pay million in fines.

CVS Health Corporation’s stock was up Thursday after news surfaced that CVS will be acquiring Omnicare, a healthcare services company, for nearly .7 billion. CVS is attempting to expand their market share among the senior citizen demographic by providing medications that treat chronic conditions.

May 22, 2015 Weekly Stock Market Wrap-up:

Alibaba Group Holding Ltd(NYSE:BABA)

Yahoo! Inc.(NASDAQ:YHOO)

eBay Inc(NASDAQ:EBAY)

CVS Health Corp(NYSE:CVS)

Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
http://www.financialbuzz.com

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May 15, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2015

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015

On Monday, markets didn’t have much new economic news to digest, except that the People’s Bank of China had cut interest rates by 25 basis points, the third cut in six months. U.S. Treasury’s continued to rally, and stocks ended the day modestly lower.

On Tuesday, markets remained indecisive, and the only interesting news was the surprise announcement that Verizon is buying AOL for .4 billion in cash. Stocks ended the day down slightly.

On Wednesday, retail sales for April were disappointing, showing no change from the prior month. Most companies in the S&P 500 reported first quarter earnings and 72% beat estimates, with analysts stating that profit grew .2%, better than earlier predictions of a 5.8% decline. So far, for this year, the S&P 500 is trading with a 125 point range, the tightest trading range in almost 10 years.

On Thursday, jobless claims for the week ending May 9th were
264,000, down 1,000 from the prior week, below expectations, and at the lowest levels in 15 years. The producer price index for April was down by .4%, also lower than expected. The Euro continued to gain strength against the dollar. Markets responded with a strong rally, with the S&P 500 closing at a new high, and the tech-driven Nasdaq, closing up 69 points or 1.39%.

On Friday, industrial production for April fell .3%, after a decline of .3% in the prior month. This marks the fifth straight month of declines. Capacity utilization in April also fell to the lowest level in over a year at 78.2%, down from 78.6%. Markets didn’t do much on the news. Now let’s take a look at some stocks.

Now let’s take a look at some stocks.

General Motors Company shares spiked down Tuesday after the company issued a another recall, this time for approximately 522,000 vehicles. The new recall will affect Chevrolet Malibus between the years of 2011 and 2012 and Chevrolet Colorados and GMC Canyons from 2015. The recalls cover various seat and seat belt defects.

Shake Shack Inc. shares soared nearly 10% during pre market hours Thursday after their first quarter financials surpassed analysts forecasts. Shake Shack reported a profit of {videoDescription}.04 per share with revenue of almost million; analysts had expected a loss of {videoDescription}.03 on million of revenue. Also of interest is same-store sales increased by a healthy 11.7% during the first quarter while analysts only expected growth of 5.1%.

Wal-Mart Stores Inc., in an effort to compete with Amazon, announced they will begin testing a new unlimited delivery model for online shoppers that will be priced cheaper than Amazon Prime’s membership fee, at only per year. The testing is expected to begin this summer.

Kohl’s Corp. shares traded down more than 11% on Thursday after their first quarter earnings report showed a lower-than-expected same-store sales figure, primarily hurt by the cold February weather. Kohl’s reported same-store sales grew only 1.4% while analysts forecasted, on average, a growth of 2.6%.

May 15, 2015 Weekly Stock Market Wrap-up:

General Motors Company(NYSE:GM)

Shake Shack Inc(NYSE:SHAK)

Wal-Mart Stores, Inc.(NYSE:WMT)

Kohl’s Corporation(NYSE:KSS)

Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
http://www.financialbuzz.com

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© 2011 Financial Buzz. All rights reserved. No portion of FinancialBuzz.com may be duplicated, redistributed or manipulated in any form without our consent, violators will be prosecuted to the full extent of the law