Category: Business News

Listen to how Richard Branson & Virgin Unite, CEO Jean Oelwang are screwing business as usual on BBC Breakfast.

April 24, 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 People’s Bank of China lowered reserve requirements by 100 basis points, the second drop this year, on the heels of China’s unexpectedly low GDP growth of 7% in the first quarter.

Markets were up very strongly, however, it was more about a technical rebound in stocks after Friday’s selloff, as well as optimism about earnings.

On Tuesday, markets generally stayed the same, still in a waiting pattern for earnings, however, Nasdaq had some nice gains in part due to a takeover offer for Mylan NV.

On Wednesday, existing home sales for March surged 6.1%, the strongest since December 2010.

For the week ending April 17th, total mortgage application volume rose 2.3%, driven largely by purchase applications, not refinances. Markets rallied on this good news, plus earnings reports that were coming in far better than expected.

On Thursday, the Nasdaq sets a record high for the first time in 15 years, as earnings continued to outperform. Much to everyone’s surprise, however, new home sales for March dropped 11.4%, and jobless claims for the week ending April 18, edged up 1,000 to 295,000.

On Friday, durable goods orders for March increased 4%, however, the core rate with transportation excluded fell .2%. The core rate declining was a disappointment.

The Dow and S&P 500 opened mixed, however, Nasdaq opened very strong. Now let’s take a look at some stocks.

Chipotle Mexican Grill, Inc. shares shot down Wednesday from 2 to 5, losing over 5%, after missing analysts’ projections for first quarter 2015 sales. Higher menu prices and a shortage of pork were contributing factors, however, sales still rose a healthy 20%.

General Motors Company stock was down over 4% Thursday after the number one U.S. automaker reported smaller-than-expected first quarter profits. The company blamed the disappointing performance on weakness in their South American and European markets which outweighed truck sales in North America. Profits were also hurt by a 9 million loss in earnings before interest and taxes in Europe, while losses in South America amounted to 4 million.

Apple Inc. stock rallied this week as investors and shareholders gear up for the launch of the highly-anticipated Apple Watch on Friday. Analysts have estimated that over 2 million units were ordered during the presale phase and forecasts that approximately 20 million units will be delivered during 2015.

Dunkin’ Brands Group, Inc. shares were up more than 8% on Thursday after the company reported earnings that beat the street’s forecasts. The company, which operates Dunkin’ Donuts and Baskin-Robbin stores, reported a 12% increase in net income to .6 million or {videoDescription}.25 per share while revenue increased by 8.1% to 5.9 million. The company also reported that 78 new Dunkin’ Donuts locations were opened during the first quarter.

April 24, 2015 Weekly Stock Market Wrap-up:

Chipotle Mexican Grill, Inc. (NYSE: CMG)

General Motors Company (NYSE: GM)

Apple (NASDAQ: AAPL)

Dunkin’ Brands Group (NASDAQ: DNKN)

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May 1, 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 down, especially biotech, as economic news waslight and investors waited for more earnings reports and the results of Wednesday’s Federal Reserve meeting.

On Tuesday, the Case-Shiller home price index for February was up 5% year over year, compared to a 4.5%rise in January. Consumer confidence for April fell sharply unexpectedly from 101.4 to 95.2. Stocks continued trading mostly based on earnings news and markets were mixed, with the Dow Industrials up and the S&P 500 and Nasdaq staying about the same.

On Wednesday, the GDP for the first quarter was released and it was only up .2%, compared to the fourth quarter’s gain of 2.2%. This was lower than expected, and the poor results were blamed on the effects of the strong dollar on exports, along with a harsh winter. The Fed also released its meeting statement, removing all previous calendar references to timing of rate hikes. This increased speculation among analysts as to when the Fed will raise rates, with many thinking the current softness in the economy will delay the Fed’s plans.

On Thursday, jobless claims for the week ending April 25th, plunged 34,000 to 262,000, the lowest level since April 2000. Personal income for March was unchanged, compared to a .4% increase in the prior month, and consumer spending was up .4%, compared to a .1% increase in February. By the end of the day, markets were down
strongly.

On Friday, the ISM manufacturing index for April was 51.5 unchanged from March. Despite the lackluster manufacturing news, markets were up strongly at the open.

Now let’s take a look at some stocks.

Apple reported their second quarter financials for 2015 last Monday and showed Wall Street another blockbuster quarter. Revenue increased by 27% to billion, attributed to better than expected sale of iPhones, with over 61 million units sold. Apple also announced an increase in their stock buyback plan from billion to 0 billion and also increased dividend payments by 11%.

Twitter, Inc. shares slid this week after the social media company’s
first quarter earnings report was accidentally leaked before Tuesday’s
market close. Twitter reported revenue of 6 million, failing to meet
their own guidance, while analysts forecast 7 million.

Lumber Liquidators Holdings, Inc. stock tumbled on Wednesday following their first quarter results showing a loss on earnings of {videoDescription}.29 per share while analysts forecast a gain of {videoDescription}.15 per share. Also in another filing, Lumber Liquidators stated that the Department of Justice is now seeking criminal charges relating to their imported laminate flooring from China. The company stated that they will be setting aside million for possible legal fees.

Alibaba Group Holding shares slid after CEO Jack Ma announced a hiring freeze due to the quick growth of the e-commerce company. Currently, Alibaba employs just north of 30,000 employees who are currently serving their 334 million user base.

May 1, 2015 Weekly Stock Market Wrap-up:

Apple Inc. (NASDAQ: AAPL)

Twitter Inc. (NYSE: TWTR)

Lumber Liquidators Holdings, Inc. (NYSE: LL)

Alibaba Group Holding Ltd. (NYSE: BABA)

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Conservative minister David Gauke is challenged over some of the names who have signed a letter in Monday’s Daily Telegraph.
Representatives of 5,000 small businesses are calling for the Tories to be “given the chance to finish what they started”.

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April 17, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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

On Monday, no economic numbers were released, so markets trended downward as everyone waited for the beginning of earnings season.

On Tuesday, the producer price index for March rose .2% month to month, up from -.5%, and in line with expectations. Retail sales for March rose .9%, up from -.5%, and slightly below expectations. Markets were mixed, however, energy stocks rallied as crude oil rose nearly 3% to a little over a barrel after forecasters predicted a decline in U.S. shale production.

On Wednesday, industrial production for March declined .6%, compared to a .1% increase in February. In addition, the Empire State manufacturing survey for April showed a contraction reading of -1.19, only the second negative reading in the last 23 months. Crude oil continued rising, closing at over a barrel, and this prompted a rally, with the Nasdaq closing above 5,000.

On Thursday, housing starts for March were up 2%, disappointing analysts, and jobless claims for the week ending April 11th were up 12,000 to 294,000, higher than expected.

On Friday, the consumer price index for March was up .2%, mostly due to higher energy costs. However, news of Greece having debt paying issues, and China’s regulators implementing stricter margin regulations, cause a steep drop in markets.

Now let’s take a look at some stocks.

Mylan (NASDAQ: MYL) shares slumped while shares of Perrigo gained early this week following the news that Mylan, a pharmaceutical company specializing in generic drugs, made a .9 billion offer to acquire rival Perrigo.

JPMorgan Chase & Co. (NYSE: JPM) shares spiked Tuesday to almost , following the release of their first quarter earnings showing a 12% increase in profit. JPMorgan’s net income increased to .91 billion on earnings of .45 per share, ahead of forecasts of .41 per share. The company reported increases in profits across all business units;
investment banking up 12%, trading for fixed income, currencies and commodities up 5%, consumer banking up 12% and commercial banking up 1%.

Nokia Corporation (NYSE: NOK) and Alcatel-Lucent Alcatel-Lucent (NYSE: ALU) stocks tumbled on Wednesday, after Nokia announced that they will be acquiring the French technology company in an all-stock deal that values Alcatel-Lucent at .6 billion. The combined company will have more than 114,000 employees and will be the second largest company in the mobile equipment industry.

Citigroup Inc. (NYSE: C) shares made headlines on Thursday, gaining more than 1.5%, after releasing a first quarter earnings report showing the largest earnings the bank has seen in nearly eight years. Operating expenses decreased more than 10% while various business units’ revenue increased. Citigroup’s revenue for the first quarter came in at .7 billion or .51 per share while analysts forecasted earnings of only .39 per share.

Netflix, Inc. (NASDAQ: NFLX) stock increased over 18% Thursday, and reached a new 52-week high, after the video streaming company released their first quarter financials, revealing major growth in their subscriber base. They had 4.9 million new subscribers, nearly a million more than what analysts expected. Netflix also reported an increase in revenue of 31%, year-over-year, to .4 billion.

April 17, 2015 Weekly Stock Market Wrap-up:

Mylan (NASDAQ: MYL)

JPMorgan Chase & Co. (NYSE: JPM)

Nokia Corporation (NYSE: NOK)

Alcatel-Lucent (NYSE: ALU)

Citigroup Inc. (NYSE: C)

Netflix, Inc. (NASDAQ: NFLX)

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March 20, 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 U.S. stocks closed lower as investors looked ahead to a light week of economic reports and some consolidation in currency and oil prices. Existing home sales bounced 1.2 percent higher, to 4.88 million units, still slightly below forecasts. On Tuesday stocks continued to fall as investors attempted to find clarity on the timing of an interest rate hike, as inflation data came in roughly in line with projections. Consumer price index made a comeback by rising 0.2% in February but was flat year-over-year. New home sales picked up sharply to a 539,000 annual rate, following a big upward revision to January, to 500,000. These are the first two 500,000 readings going all the way back to April and May of 2008. On Wednesday U.S. stocks got crushed, closing more than 1 percent lower as Wall Street bowed to the pressure of the strong dollar and its impact on the economy. Nasdaq lost more than 2 percent; with biotechnology, one of the best performing sectors falling more than 3.5%, marking its biggest one-day plunge this year. The losing streak continued on Thursday as major indices tanked through the trading day, erasing their entire gains for the year so far, and the dollar rallied to a 12-year high against the euro. Initial jobless claims fell to a five-week low, pointing to a healthy and expanding labor market. But stocks failed to shake off the losses and investors weighed the stronger dollar and weaker global economy ahead of the earnings season. On Friday biotechnology sector attempted to break this week’s decline but investors remained cautious. The third estimate for fourth-quarter U.S. GDP came in unchanged at 2.2%. Consumer spending was revised higher to 4.4 percent.

Now some company highlights:

Hewlett-Packard announced a new partnership to equip its PCs, tablets, and other gadgets with audio technology from a Danish television and sound system maker. Hewlett-Packard will replace the previous partnership with Beats Audio, beginning this spring. It is still unclear to shareholders if the new partnership will have an impact on sales numbers.

Kraft Foods and H.J. Heinz, two of the most iconic names in the nation’s kitchens, said on Wednesday they will merge through a billion deal to create one of the world’s biggest food empires. The transaction was engineered by Warren Buffett, with help from the company that owns Heinz, a Brazilian investment firm 3G Capital. The new company, Kraft Heinz, will be home to long-lasting staples of the family meal, with Heinz’s ketchup alongside Kraft’s Jell-O, Kool-Aid, Oscar Mayer, and its namesake macaroni and cheese.

Shares of Ford were down 2% on Wednesday after the automaker announced its latest major vehicle recall. The recall affects more than 221,000 recent models of the company’s ambulance, police and emergency vehicles, to fix a defect that causes their engines to spontaneously shut down and refuse to restart. Ford says so far there have been no reports of accidents or injuries due to the issues at hand.

March 27, 2015 Weekly Stock Market Wrap-up:

Hewlett-Packard (NYSE: HPQ)

Kraft Foods and Heinz Co. (NASDAQ: KRFT)

Ford Motors (NYSE: F)

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April 2, 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

U.S. stocks rallied to start the 4-day trading week. The Dow jumped 260 points on Monday and the S&P closed 1 percent higher, thanks to encouraging talk of stimulus in Asia. Personal income in February was in-line with market consensus, posting a gain of 0.4 percent; Consumer spending picked up 0.1 percent. Pending homes sales jumped 3.1 percent, driven primarily by sales in the West and Midwest regions. But the party was over on Tuesday as the Dow dropped triple digits, with healthcare sector falling the most in the final trading day in the first quarter. Investors are realizing that the economic conditions are challenging. It’s hard to see how the U.S. is going to raise interest rates in the face of global weakness. On Wednesday markets spent a second day in the red; ISM for March posted 51.5, the lowest level on this indicator since last May. Construction spending fell 0.1 percent in February, for a second straight month of decline. March ADP Employment Report came in very soft at 189,000, below forecasts. Crude oil climbed back to a barrel, as negotiations over Iran’s nuclear program are heading into double overtime. Negotiators missed a deadline on Iran’s nuclear talks that might bring more supply to the market. Oil prices rallied for the first time in four days following a weekly U.S. inventory report that turned out to be less than some had feared. On Thursday stocks traded higher; Initial jobless claims fell very sharply, down 20,000 to 268,000. Factory orders showed an increase of 0.2 percent. The U.S. trade balance for February sharply narrowed on lower oil prices.

Now some company highlights:

GoDaddy (NYSE: GDDY) the web hosting service best known for its outrageous TV ads, went public on Wednesday with drastically different views for the company’s prospects. But investors had to be pretty happy with how the stocks performed on the first day: it popped over 30% in its debut on the NYSE. But there are still doubters, much of the analysis talked about how GoDaddy’s IPO went to pay off some of the company’s mounting debt.

UnitedHealth Group (NYSE: UNH) will spend billion to buy a pharmacy benefits firm Catamaran, saying it is trying to control the rising costs of prescription drugs. UnitedHealth plans to merge Catamaran to fulfill more than one billion prescriptions. The deal will help the company increase its profits about 5% in 2016.

It took eight months after first asking, but Amazon (NASDAQ: AMZN) finally got the go-ahead from the FAA to begin the research of their Prime Air program. But the e-commerce giant still has a long way to go before it can use the friendly skies to deliver goods, while facing concerns over public safety and privacy.

April 2, 2015 Weekly Stock Market Wrap-up:

GoDaddy (NYSE: GDDY)

UnitedHealth Group (NYSE: UNH)

Amazon (NASDAQ: AMZN)

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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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March 6, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

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On Monday, the Nasdaq closed above 5,000 for the first time since the dot-com crash in March of 2000, while the Dow Industrials and the S&P 500 hit record highs. The ISM manufacturing index for February dropped to 52.9, the lowest level since January of 2014. Personal income for January increased .3% and personal spending fell .2%. The People’s Bank of China cut benchmark interest rates by .25%, in an attempt to halt deteriorating economic conditions in that country.

On Tuesday, motor vehicle sales for February were down, with domestic vehicle sales coming in at 13.1 million, 300,000 units lower than January, and likely due to bad winter weather.

On Wednesday, the ADP employment report for February was down 38,000 to 212,000, slightly below expectations. The ISM non-manufacturing index for February was up slightly to 56.9, pointing to continued strength in the services sector.

On Thursday, the European Central Bank announced they will begin asset purchases next week of 60 billion euros a month. Jobless claims for the week ending February 28 rose 7,000 to 320,000, higher than expected.

On Friday, the highly awaited employment report came out for February and nonfarm payrolls were 295,000 up 56,000 and the unemployment rate down .2% to 5.5%. Market were down on the news, fearing that the Fed will hike rates sooner due to the strong job numbers.

Now let’s take a look at some stocks.

GoPro, Inc. shares tumbled at the start of this week, closing below .00 on Monday, down nearly 5%, after Chinese electronics giant Xiaomi release their Yi Action Camera, a waterproof camera designed to compete with GoPro. Xiaomi’s new camera is currently only available for
sale in China and costs only , less than half the cost of GoPro’s cheapest camera.

Lumber Liquidators Holdings, Inc. stock slid the entire week following a report on CBS’s “60 Minutes” showing Lumber Liquidators’ laminate flooring that is made in China contains formaldehyde in greater amounts than permitted by California standards. Formaldehyde, is a known carcinogen. The company claims these accusations were falsely created by short sellers and intends to fight them.

Alibaba Group Holding Limited shares dropped Tuesday after the company came under scrutiny regarding the validity of its sales volume due to “fake” orders placed with the company. At the same time, the Taiwanese government accused the company of violating investment rules by registering through a Singapore-based holding company in order to hide its Chinese ownership.

Alcoa Inc., saw their stock down more than 6% Wednesday after analysts at Bank of America lowered their stock rating from “buy” to “neutral” while also cutting their price target from to . B of A stated that “worsening aluminum fundamentals” was the reason for the downgrade.

March 6, 2015 Weekly Stock Market Wrap-up:

GoPro Inc. (NASDAQ:GPRO)

Lumber Liquidators Holdings Inc. (NYSE:LL)

Alibaba Group Holding Ltd. (NYSE:BABA)

Alcoa Inc. (NYSE:AA)

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