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Market Commentary

Stocks Continue to Struggle But Traders Remain Positive

March 28th, 2014

Weekly Wrap Up U.S. stock indices overall had a pretty poor week with the exception of Tuesday, where the Dow jumped up nearly 100 points. This year so far, the stocks have not been performing as well as they did last year and speculation continues to the reasoning behind this, whether it is increased risk
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BMW is Expanding SC Plant; Ford CEO Gets 11% Raise

March 28th, 2014

Despite the rocky start to U.S. indices this year, many traders believe that the bull market has not ended and will continue. Out of all the traders surveyed by Charles Schwab, 42% say that they do believe that the bull market will not end until sometime in 2015. This shows that some investors are continuing
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Intel (INTC) Takes Big Stake in Cloudera

March 28th, 2014

Shares of the Intel Corporation (INTC) were up +0.16 or +0.63 percent in pre-market trading on Friday, after the company announced late Thursday that it was making a significant investment in startup Cloudera. While the size of the deal has yet to be announced, the investment by Intel is the largest single investment in data
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Warning Flags are Raised as Stocks Continue to End Down

March 27th, 2014

Stocks end down once again today, with some warning flags being raised. 2013 was the best year on Wall Street since 1997, and 2014 isn’t off to the same great start. There are many different thoughts out there to the reasoning behind the slow start; they range from increased risk aversion in investors to some
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Bank of America (BAC) to Settle with FHFA

March 27th, 2014

Shares of Bank of America Corp. (BAC) were up +0.15 or +0.87 percent to $17.33 per share in pre-market trading on Thursday, after the company announced late yesterday that it would settle litigation over mortgage securities sales with the Federal Housing Finance Agency or FHFA. Bank of America stock closed at $17.18 per share, down
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Candy Crushes IPO Disappoints; Nissan Recalls 1M Vehicles

March 26th, 2014

U.S. stocks close lower today, with Facebook dragging down Nasdaq after it fell 7% on the day. Despite being a heavily awaited stock, King Digital Entertainment (KING) fell 11% in its first day of trading. The maker of the popular Candy Crush app debuted its IPO at $22.50 per share. The automobile recalls continue as
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Power Plug (PLUG) Up on Prospect of Major Deal

March 26th, 2014

Shares of Latham, NY, based Power Plug Inc. (PLUG) surged on Tuesday, against the backdrop of a strong day in stocks overall. The company’s stock was up $2.79 per share, or 49.03%, to $8.48, on volume of 135,458,814 shares. The company’s chief executive revealed that the company is close to announcing a major deal in
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IRS Says Bitcoin is Not Currency; Walgreens Closing 76 Stores

March 25th, 2014

A jump in consumer confidence led stocks to rise today, with the Dow jumping up nearly 100 points. Walgreens (WAG) announced that they will be closing 76 stores. The pharmacy cited that profit has been slipping as fewer generic drugs are for sale, so they must close these stores to help increase profitability. In commemoration
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Blackstone (BX) to Reduce SeaWorld Stake

March 25th, 2014

Shares of The Blackstone Group L.P. (BX) closed down -0.80 or -2.36 percent to $33.12 per share on Monday. The company disclosed through a prospectus late Monday that they would be selling an additional 15 million shares of their SeaWorld Entertainment SEAS stake in a secondary offering. SeaWorld stock closed at $31.98 per share, down
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Former Madoff Employees Found Guilty; Apple and Comcast May Team Up

March 24th, 2014

The Dow Jones and S&P 500 ended the day slightly down, while Nasdaq fell over 47 points. It appears that Apple (AAPL) and Comcast (CMCSA) may be teaming up to offer live TV and an on-demand video service through Apple’s new set-top box. It seems that if this partnership comes to fruition, it would be
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Nu Skin (NUS) to be Fined $540K by China

March 24th, 2014

Shares of Nu Skin Enterprises (NUS) were up +18.34 or +24.45 percent to $93.34 per share in pre-market trading on Monday, after news that the Administration of Industry and Commerce (â

S&P Retreats from Intraday Record; Credit Suisse Agrees to $885 Mill Settlement

March 21st, 2014

On Friday focus was placed on the Federal Reserve and its released results for bank stress tests in the US. The effects were mixed as Bank of America (BAC) slid lower by the end of the day and JP Morgan (JPM) soared to a high last seen in 2000. The Fed will not comment on
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Stocks See Weekly Gains; Fed Announces Taper Plans and Stress Test

March 21st, 2014

Weekly Wrap Up Despite a slight downturn on Friday, most of the major US indices were able to finish the week with gains. On Friday the S&P 500 hit an intraday high before retreating. The Federal Reserve drew much attention this week – Janet Yellen announced that the stimulus package would continue with its taper
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Unwired Planet (UPIP) Stock Surges on Lenovo Patent Deal

March 21st, 2014

Shares of Unwired Planet Inc. (UPIP) were trading up +1.08 or +83.08 percent to $2.38 per share in pre-market trading on Friday, after announcing that Lenovo LNVGY would be buying a portfolio of patents from the company for $100 million. The deal includes a term-based license to Unwired Planetâ s patent portfolio. Unwired Planet stock
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“Starbucks Evenings” Expanding; Existing-Home Sales Fall

March 20th, 2014

Stocks rebounded today after falling significantly yesterday, with the S&P 500 nearing a record close. Starbucks (SBUX) doesn’t want to only be a staple in the morning but it also wants to be a place where you can hang out after work for happy hour. Starbucks COO announced today that they have plans to expand
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ExOne (XONE) Reports Quarterly Loss

March 20th, 2014

Shares of The ExOne Company (XONE) were trading down -3.95 or -9.03 percent to $39.80 per share in pre-market trading this morning, after the company reported a quarterly loss and a drop in revenue. The drop was attributed in part to a mix of fewer high end 3-D printers sold in the fourth quarter. ExOne
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Tapering of the Stimulus Continues; Toyota Must Pay $1.2 Billion

March 19th, 2014

Stocks ended the day significantly down as Janet Yellen announced that they would continue tapering the stimulus package by another $10 billion to $55 billion per month. As more Americans are signing up for Obamacare, many are now struggling to find doctors and hospitals that will take their new health insurance. In some situations, Americans
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Hewlett-Packard (HPQ) Up on Stock Upgrade

March 19th, 2014

Shares of Palo Alto, California, based Hewlett-Packard Company (HPQ) rose on Tuesday, against the backdrop of a generally higher day on Wall Street. The stock was up 3.66%, rising $1.08 per share, to close at $30.56, on volume of 19,144,896 shares. The company’s stock was upgraded by Barclay’s on Tuesday, largely on improving prospects for
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Will Microsoft Create Office for iPads?

March 18th, 2014

All three U.S. stock indices gained ground today as the geopolitical fears related to Ukraine seem to be diminishing. Microsoft’s (MSFT) shares soared today with talk about releasing a version of Office for Apple’s (AAPL) iPad. While there has not been a formal announcement from Microsoft yet, this could lead to a huge boost in
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Hertz (HTZ) to Spin Off Equipment Rental Division, Reports Earnings

March 18th, 2014

Shares of Hertz Global Holdings (HTZ) closed up +1.24 or +4.77 percent on Monday, after the company announced it would be spinning off its construction equipment rental business. The Hertz Equipment Rental division will reportedly be spun off for $2.5 billion through a tax-free distribution that will tentatively be completed by the beginning of 2015.
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