A Lot of Red in the Screen
Wall Street closed the session with losses, the Dow Jones lost 0.69%, the S&P 500 was down 0.78% and the Nasdaq fell 1.62%. Tomorrow is the day that all investors have waited all the week due to the publication of the employment report for July. Meanwhile, four days after the reopening, the Athens stock exchange recovers part of the heavy losses and the Athex Composite index moves about 4%. Shares of National Bank of Greece jumped 27%, after losing 62% over the past three sessions, while the Eurobank Ergasias gained 17% on Thursday's session.
Bank of England. The monetary authority maintains interest rates in the UK at its record low of 0.5% as well as its asset purchase plan, which has allocated 375,000 million pounds (540,000 million euros) since mid-2009. The BoE announced its decision after a two-day meeting of its monetary policy committee. In its economic outlook reviewed today, the BoE expects inflation to remain stable "in coming months" and relaxes its forecast this year to 0.3%, compared with 0.6% previously projected. Further, it expects prices to rebound by 1.5% next year, one tenth less than its previous projection.
Twitter, Inc. (TWTR). Twitter fell about 3.3% on Thursday and set a new record low. Twitter has already lost 23% in a year-to-date basis, and since July 27th, before reporting its latest quarterly results, plummeted 47%.
Losers of the Day. Although Viacom, Inc. (VIA) reported EPS of $1.47 per share in the quarter ended June 30, an increase of 4% from $1.40 per share a year ago, revenues disappointed and the stock was down 13.35%. Time Warner Inc. (TWX) reported a quarterly profit of $1.16 per share, up from $0.95 per share in the same quarter a year ago. Its adjusted earnings from continuing operations were $1.25 per share from $0.98 per share. Further, its revenue rose 8% to $7.3 billion and has declared a dividend of $0.35 per share. But it seems that investors did not care because shares fell about 1%. On the other hand, Michael Kors Holdings Limited (KORS) ended up 10.84% higher after the company reported better-than-expected first quarter fiscal 2016 results.
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