Street Ends Mixed This Week as Consumer Sentiment Brightens (GPRO, NKE)

Weekly Wrap Up


The US markets were able to close higher on Friday, but both the SP 500 and Dow Jones ended lower for the week. Nasdaq saw its second consecutive weekly gain. Consumer sentiment reportedly rose this month to a reading of 82.5 for June, driven by auto sales. On Wednesday it was announced that GDP in the US fell at a 2.9% annual rate, the worst reading since 2009. Gold tallied another weekly gain and oil futures dropped due to decreasing Iraq supply fears.

In corporate news, several notable moves were made this week. Nike (NKE) announced Q4 earnings that were better than expected, causing shares to rise aobut 1.4%.
GoPro (GPRO) went public on Thursday and saw stocks skyrocket. Both DuPont (DD) and Dollar General Corp. (DG) slipped this week due to a cut in expected earnings, and the retirement of its CEO, respectively. Also this week the Supreme Court ruled against Aereo, a company that wants to allow customers to watch live and recorded TV online while bypassing cable and satellite-TV providers.

Economic News


Consumer Sentiment Brightens on Current Economy
Consumer sentiment rose this month, reversing a chunk of the prior month’s drop, with cheerier views about current conditions, according to data released Friday. (Source: MarketWatch) Click here to read the full article

US Economy Shrank in First Quarter by Most in Five Years
The U.S. economy contracted in the first quarter by the most since the depths of the last recession as consumer spending cooled. (Source: Bloomberg) Click here to read the full article

Business News


(DF)
Shares of the Dean Foods (DF) were off -0.52 or -2.96 percent to $17.03 per share in after hours trading yesterday afternoon, after news that the company was recently served with a subpoena from Preet Bharara, the United States Attorney for Manhattan. (Source: InvestorGuide) Click here to read the full article

(IRM)
Shares of Iron Mountain Inc. (IRM) were trading up +6.94 or +23.31 percent to $36.71 per share in pre-market trading Thursday morning, after the company announced yesterday that its board had unanimously approved the company’s conversion into a real estate investment trust or REIT. (Source: InvestorGuide) Click here to read the full article

(VRTX)
Shares of Cambridge, Massachusetts-based Vertex Pharmaceuticals (VRTX) were up sharply on Tuesday, amid a broadly lower market on Wall Street. (Source: InvestorGuide) Click here to read the full article

Technology Focus


(MCRS)
Shares of the MICROS Systems Inc. (MCRS) were trading up +1.63 or +2.48 percent to $67.40 per share in pre-market trading on Monday, after news that Oracle Corp. (ORCL) would be taking the company over in a $5.3 billion deal.  (Source: InvestorGuide) Click here to read the full article

(GPRO)
Shares of GoPro Inc. (GPRO) were trading up +0.76 or +2.43 percent to $32.10 per share in pre-market trading Friday morning, after the company’s successful initial public offering yesterday. (Source: InvestorGuide) Click here to read the full article

Your Money


Parents to Grads: Those Student Loans Are Your Problem
According to a survey released Wednesday by Discover Student Loans , as student loan debt nears record highs, more parents are just saying no when it comes to helping their kids pay off student loans. (Source: MarketWatch) Click here to read the full article

6 Endangered Brands
They were household names for decades, and they still hold an important place in our collective consciousness. But these once-bright business stars are dimming, and may soon fade out entirely. (Source: CNN) Click here to read the full article

Published on Jun 27, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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