Companies Continue to Release Q2 Earnings; IMF Cuts U.S. & Global Forecasts

Weekly Wrap Up

Stocks ended Friday in the red after the S&P 500 ended with record finishes on Wednesday and Thursday. The International Monetary fund cut its forecast for both U.S. growth and global GDP growth this year. On Wednesday, the IMF announced that they would be cutting its U.S. economic growth forecast for 2014 to 1.7%, down from 2%, citing economic struggles in the first quarter. Then on Thursday the IMF cut the global GDP growth forecast from 3.6% down to 3.4%.

Companies continued to release their Q2 earning statements this week. Chipotle (CMG) blew away earning estimates for the second quarter reporting a 28.7% increase in revenue, besting analysts estimates by 6%.
On the flip side, Amazon (AMZN) reported deeper-than-expected losses, driving its shares down 10%.

Economic News

Economic Report: Durable-Goods Order Rise Solid 0.7% in June
Orders for durable goods such as appliances and aircraft rose a solid 0.7% in June, beating market expectations. Core capital-goods orders climbed. (Source: Market Watch) Click here to read the full article

World Stocks Fall on US Earnings, Russia Sanctions
Global stock markets turned lower on Friday after weak earnings from Visa and Amazon and as European countries planned a range of sanctions against some Russian businesses. (Source: Yahoo News) Click here to read the full article

Business News

Shares of Herbalife Ltd. (HLF) rose sharply on Tuesday on a strong day on Wall Street overall. Herbalife’s stock was up 25.45%, up $13.75 per share to close at $67.77, on volume of 27,948,910 shares – roughly 20 times normal volume for the stock. (Source: InvestorGuide) Click here to read the full article

Shares of Chipotle Mexican Grill Inc. (CMG) were up +56.98, or +9.62 percent to $649.40 per share in afterhours trading on Monday afternoon, after the company reported a +28.7 percent increase in revenue, beating analyst estimates by 6 percent. (Source: InvestorGuide) Click here to read the full article

Shares of Reynolds American Inc. (RAI) were down -1.80 or -3.07 percent to $56.85 per share in pre-market trading early Monday, after news late Friday that a Florida jury had decided to impose punitive damages of $23.6 billion on R.J. Reynolds Tobacco — a division of Reynolds American — to settle a lawsuit brought by Cynthia Robinson of Pensacola. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Shares of Inc. (AMZN) were trading down -36.00 or -10.04 percent to $322.61 per share in pre-market trading early Friday, after the company released significantly lower than expected earnings despite a large increase in revenue. (Source: InvestorGuide) Click here to read the full article

Apple Completely Ignored Its Retail Stores During Its Earnings Call This Week
Apple is known for its prominent retail presence, but the company omitted any mention of its iconic brick-and-mortar chain during its Q3 earnings conference call earlier this week. (Source: Business Insider) Click here to read the full article

Your Money

"Free Money" Bank Offers May Cost More Than You Think
If you’re thinking about switching banks, this summer may be a lucrative time to make the leap. (Source: Yahoo Finance) Click here to read the full article

Smart People Buy Generic Brands
These products are the same in all but their names. So why do 26% of Americans buy the one that costs more? (Source: CNN Money) Click here to read the full article

Published on Jul 25, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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