February 27, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

February 27, 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, existing home sales for January were released, dropping a disappointing 4.9% month to month. Economists say existing homeowners are staying put longer due to economic uncertainty and this is creating a supply shortage, which in turn keeps prices high and lowers sales.
On Tuesday, Fed Chair Janet Yellen testified before the Senate Banking Committee and said the magic words: no rate hike is expected for the next couple of Fed meetings. This led to modest rallies. Consumer confidence for February fell more than expected, to 96.4, compared to 102.9 in January.

On Wednesday, new home sales for January were better than expected at 481,000 units, only dropping very slightly from the previous month. Oil futures increased slightly to a barrel. Markets didn’t do much, although they hovered close to record highs.

On Thursday, the consumer price index for January showed a month to month decline of .7%, thanks to a decline in energy. Durable goods for January were up 2.8% month to month after declining 3.7% in the prior month. Jobless claims for the week ending February 21st were unexpectedly high at 313,000, up 31,000.

On Friday, the revised fourth quarter GDP came in at 2.2%, down from the original estimated 2.6%. Also released was pending home sales for existing homes in January. The index rose 1.7% month to month, and it is now 8.4% higher than the year ago. Markets were relatively unchanged on the news. Now let’s take a look at some
stocks.

Aruba Networks, Inc. shares soared over 20% after trading hours Wednesday when rumors surfaced that the technology company is in talks to get acquired by Hewlett-Packard. If in fact, these two companies combine, Cisco Systems would face major competition in the wireless
equipment sector.

Sears Holdings Corporation’s stock plummeted more than 6% on Thursday after reporting its fourth straight year of decreasing earnings. The retailer has taken numerous preventative measure including cost cutting and store closures, but this has not been good enough to reverse the downward trend. For the period ended January 31st, Sears lost 0 million or .50 per share while revenues decreased to .1 billion from .6 billion.

DryShips, Inc. reported weak fourth quarter earnings, with a million net loss or $.04 per share, slightly better than the year-ago loss of .4 million or $.06 per share. Net income was reported at only {videoDescription}.02 per share, missing forecasts of {videoDescription}.05 per share. The company’s stock was down just over 3% on Thursday.

CollabRx, Inc. shares plummeted more than 34% Thursday after the healthcare technology company priced a public offering of 2.4 million shares of common stock at .27 per share. This would be the second public offering by CollabRx within a week; the previous offering was priced at .25 per share for 3.8 million shares.

February 27, 2015 Weekly Stock Market Wrap-up:
Aruba Networks Inc. (NASDAQ: ARUN)
Sears Holding Corp. (NASDAQ: SHLD)
Dryships Inc. (NASDAQ: DRYS)
CollabRx Inc. (NASDAQ: CLRX)

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