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Market Commentary

S&P Rallies Over 1900 For the First Time; Dollar and Gas See Weekly Gains

May 23rd, 2014

Weekly Wrap Up Wall Street extended gains through the end of the week with the S&P reaching record high territory once again. It is the first weekly advance for the index in three weeks. The Spring selling season is fully underway and it was reported that new home sales hit higher than expected in April.
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New Home Sales Rose 6.4%; S&P 500 Closed At 1,900

May 23rd, 2014

Ahead of the Memorial Day weekend, stocks rose today with the S&P 500, Dow, and Nasdaq making gains. New home sales rebounded in April. Sales reached 433,000 and outperformed an earlier median estimate of just 420,000. In corporate news, GameStop (GME) was up 4% after reporting a profit of 68 million, up from $54.6 million last
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Boeing (BA) to Acquire ETS Aviation

May 23rd, 2014

Shares of the Boeing Company (BA) closed up +0.88, or +0.67 percent to $131.84 per share in moderately active trading on Thursday, while the general market gained moderately. The company announced early this morning it had agreed to purchase UK aviation software company, ETS Aviation. Terms of the deal were undisclosed. Chicago, Illinois based Boeing
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JD.com (JD) Up 17 Percent in Initial Public Offering

May 22nd, 2014

Shares of JD.com (JD) were trading up +16.7 percent in active trading this morning, after the company had its initial public offering at $19 per share. JD.com stock is currently trading at $22.18 per share. JD.com is one of a series of large IPOs for Chinese e-commerce companies including Alibaba. The original range for the
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Gap’s Q1 Income Down 22%; HP to Eliminate At Least 11,000 Additional Jobs

May 22nd, 2014

Stocks continued to rally and ended the day slightly up. Retailers continued to release their first quarter earning reports this week. Best Buy (BBY) reported stronger-than-expected profit in Q1 resulting in their shares jumping up 2.7% during afternoon trading. Gap (GPS) didn’t quite fair as well, their Q1 net income fell 22% due to additional
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Minutes from the Fed’s April Meeting Released; Stocks Rally

May 21st, 2014

Stocks end the day up, with the Dow Jones gaining almost 160 points. This increase is partially due to luxury retailers, which were led by Tiffany’s (TIF) whose shares ended the day up 9%. The minutes from the April FOMC meeting were released today and investors were searching for clues that would help determine when
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Dicks Sporting Goods (DKS) Slides on Lower Projections

May 21st, 2014

Shares of Coraopolis, Pennsylvania based Dicks Sporting Goods (DKS) fell sharply on Tuesday, down $9.56 per share to $43.60, on volume of 15,736,044 shares. The fall represented a 17.98% decline in the price of the stock. Though the company saw significant growth in both earnings and revenues in the first quarter, they warned that both
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Stocks Dragged Down by Weak Retail Earnings; Target Fires Another Executive

May 20th, 2014

Stocks close the day sharply down partially due to weak retail earnings. Dick’s Sporting Goods (DKS), TJX Companies (TJX), Urban Outfitters (URBN) and Home Depot (HD) all failed to meet Wall Street’s expectations, thus driving down the stock indices. Just days after General Motors (GM) recalled nearly 3 million vehicles, the auto maker recalls an
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Credit Suisse (CS) to Pay $2.8 Billion to Settle Criminal Case

May 20th, 2014

Shares of Credit Suisse Group AG (CS) were up +0.41 or +1.41 percent to $29.51 per share in pre-market trading this morning, after the company pled guilty to criminal charges yesterday and agreed to pay $2.815 billion in penalties for conspiring to aid thousands of U.S. account holders in evading taxes. Credit Suisse stock closed
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AT&T Purchases DirecTV for $48.5M; Credit Suisse Charged With Aiding Tax Evasion

May 19th, 2014

Stocks close the day slightly up due to corporate dealmaking. AT&T (T) announced today that they will be purchasing DirecTV (DTV) for $48.5 million. While this acquisition ended with a deal, not all acquisitions were as successful today. AstraZeneca (AZN) rejected Pfizer’s (PFE) “final takeover offer” of £69.4 billion; as a result AstraZeneca’s shares fell
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AstraZeneca (AZN) Rejects Pfizer Offer

May 19th, 2014

Shares of AstraZeneca Plc. (AZN) were off -9.27 or -11.55 percent to $71.01 per share in pre-market trading this morning, after the company rejected a

Roller Coaster of a Week for U.S. Stocks; TrueCar Shares Up 16% During IPO Debut

May 16th, 2014

Weekly Wrap Up Stocks had a roller coaster of a week. The Dow Jones and the S&P 500 achieved a record high on Monday, rose even higher on Tuesday to end at a new record high, then retreated from the record highs on Wednesday. General Motors (GM) was in the news a lot this week.
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GM Assessed $35M Fine; Two-Day Losing Streak Ends

May 16th, 2014

Stocks moved higher during the afternoon trading session to end a two-day losing streak. General Motors (GM) was assessed the maximum fine of $35 million for their recall delay. GM was assessed the fine since they admitted to not notifying the government in a timely manner after discovering the faulty ignition switch. Darden Restaurants (DRI)
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J.C. Penney (JCP) Stock Soars on First Quarter Earnings

May 16th, 2014

Shares of J.C. Penney Company Inc. (JCP) were trading +1.60 or +19.12 percent higher to $9.97 per share in pre-market trading this morning, after the company announced better than expected earnings for the companyâ s first quarter 2014 fiscal year after the close yesterday. Shares were trading as much as +25 percent higher in the
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Walmart’s Poor Q1 Earnings Drags Down the Dow; GM Recalls 3 Million More Vehicles

May 15th, 2014

All three U.S. stock indices ended the day lower, with the Dow Jones being dragged down by Walmart (WMT). Walmart revealed a disappointing earnings report today, reporting that the retailer’s net income dropped by 5% in the first quarter. The mega-retailer sites that the harsh winter weather greatly impacted their earnings report.  It seems like
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Cisco (CSCO) Stock Gains on Third Quarter Results

May 15th, 2014

Shares of Cisco Systems Inc. (CSCO) were up +1.51 or +6.62 percent to $24.32 per share in pre-market trading this morning, after the company reported solid third quarter earnings yesterday after the market close. The company reported non-GAAP earnings of $0.51 per share, versus an analyst consensus of $0.48 per share. Cisco stock closed at
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Stocks Retreat From Yesterday’s Highs; Yahoo Purchases Snapchat Rival

May 14th, 2014

After achieving record finishes yesterday the Dow Jones and the S&P 500, along with Nasdaq ended the day down. The way we order fast food restaurants may be changing due to the improvements of Panera (PNRA). The fast-food sandwich restaurant plans to introduce high-tech ordering to its stores by way of in-store kiosks. The CEO
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Elizabeth Arden (RDEN) Falls on Much Weaker Than Expected Results

May 14th, 2014

Shares of Miramar, Florida, based Elizabeth Arden, Inc. (RDEN) fell sharply on Tuesday in response to the announcement of the company’s earnings for the third fiscal quarter ended March 31. Elizabeth Arden fell 22.82%, down $8.13, to close at $27.50 on volume of 4,008,958 shares. The company reported a net loss for the quarter that
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Coke Increases Stake in Keurig; Another Record Day for Dow and S&P 500

May 13th, 2014

The Dow Jones and S&P 500 climbed even higher today to end with yet another record close for the second day straight. Nasdaq didn’t fare as well as it ended the day down 0.1%. The Department of Transportation released today that almost 65,000 domestic flights were cancelled this year due to the winter weather. These
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AT&T to Acquire DirecTV (DTV) in $50B Deal

May 13th, 2014

Shares of DirecTV (DTV) were trading up +4.28 or +4.91 percent to $91.44 per share in pre-market trading on Tuesday, after sources revealed yesterday that the two companies were working towards a formal announcement. The takeover is said to be for a minimum of $50 billion and would make AT&T (T) the nationâ s largest
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