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Market Commentary

Sotheby’s (BID) and Ebay to Begin Live Auctions

March 17th, 2015

Shares of Sotheby’s (BID) were trading down -0.07 or -0.17 percent to $40.91 in Tuesday’s premarket after news that the company will be offering live auctions on a new Ebay (EBAY) auctions platform. The new live auctions platform will debut next month. Sotheby’s stock closed at $40.98, up +0.45 percent in Monday’s regular trading session.
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Dow Up 230 on the Strength of Biotech and Healthcare

March 16th, 2015

Markets were up in trading today as the health services sector surged. The Dow gained 228.11 points to close at 17,977.42, just under the record highs which were set earlier this month. The NASDAQ was also up, gaining 57.75 points to close at 4,929.51. The S&P 500 rose 27.79 points and ended trading today at
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HPQ’s Spin Off: Here’s Why Investors May Face Tough Challenges Ahead

March 16th, 2015

Hewlett-Packard may be at a disadvantage by focusing on selling to the consumer market in 2015. 2014 was perceived as a year of the corporate spin off in America, as enterprise companies such as Hewlett-Packard turned heads in both Wall Street and Silicon Valley. This year, corporate spin offs are expected to deliver another success.
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FXCM Inc. (FXCM) Downgraded after Reporting Better Than Expected Earnings on Friday

March 16th, 2015

Shares of FXCM Inc. (FXCM) were trading down ??0.17 or -6.59 percent to $2.41 per share in this morning’s premarket. The company’s stock was downgraded to “Underperform” this morning by KBW, while Credit Suisse reiterated its underperform rating and lowered its price target for the stock to $2.60. FXCM stock closed at $2.58 on Friday,
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Markets Drop This Week as Fed Fears Take a Toll

March 13th, 2015

Markets were down slightly in trading this week as concerns over rising interest rates stoked ongoing Fed fears. The Dow dipped -107 points on the week, starting at 17,856 and finishing on Friday at 17,749. The S&P 500 lost -17.86 points over 5 days, and closed the week at 2,053.40. The NASDAQ was also down,
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Down Down 150 Points Despite a Late Rally

March 13th, 2015

Markets were down today, despite a late rally this afternoon which saw the market gain more than 60 points from the day’s low point at lunchtime. The Dow lost -145.91 points and closed at 17,749.31. The S&P 500 and NASDAQ were both down as well. The NASDAQ lost -21.53 points and closed at 4,871.76, while
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U.S. Attorney and FBI Launch Probe into Herbalife (HLF) Stock Manipulation

March 13th, 2015

Shares of Herbalife Ltd. (HLF) were trading up +1.75 or +5.26 percent to $35.00 per share in this morning’s premarket. Herbalife stock is up after news of an investigation into possible manipulation of the stock by fund manager Bill Ackman and people in his employ. Herbalife stock closed at $33.25 per share, up +0.15 or
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Dow Gains 260, Markets Recovering After Big Losses

March 12th, 2015

Thursday saw the markets recovering after losses earlier in the week. Volume was higher than average as investors snapped up deals and built up their portfolios. The Dow was up 259.83, or 1.5%, to close at 17,895.22. The NASDAQ gained 43.35 points and closed at 4,893.29. The S&P 500 added 25.71 points to close the
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Salix Pharmaceuticals (SLXP) Gets Bid From Endo International

March 12th, 2015

Shares of the Salix Pharmaceuticals Inc. (SLXP) closed up +10.96 or +6.95 percent to $168.61 per share in Wednesday’s regular trading session. The company received a letter yesterday from the board of directors of Endo International Plc (ENDP) offering Salix $175 per share and trumping Valeant’s (VRX) $158 per share bid. Raleigh, North Carolina based
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Bird Flu Hits Poultry Producers on a Slow Day for the Markets

March 11th, 2015

Trading was essentially flat today, with yesterday’s selloff giving way to much lower than expected volume which saw the market stall out in the afternoon. The Dow was down -27.55 points, ending the day at 17,635.39. The NASDAQ lost -9.86 points and settled in at 4,849.94, and the S&P 500 fell -3.92 points to finish
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Urban Outfitters Inc. (URBN) Up on Strong Fourth Quarter Results

March 11th, 2015

Shares of Philadelphia, PA, based Urban Outfitters Inc. (URBN) spiked higher on Tuesday, against the backdrop of a sharp sell-off in the overall market. Urban Outfitters was up $4.55, rising 11.52% to close at 44.06, on volume of 10,776,295 shares. The company reported fourth quarter earnings that exceeded analysts expectations, as well as solid growth
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Big Selloff Drives the Dow Down 330

March 10th, 2015

The Dow was down -330 points today and closed at 17,662.94. Worries over the Fed raising interest rates brought share prices down from last week’s record levels. The S&P 500 fell -35.27 points to 2,044.16, and the NASDAQ dropped -82.64 points to close at 4,859.80. Markets across the world were down as well today, with
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Credit Suisse (CS) CEO to Step Down in June, Bank Confirms Replacement

March 10th, 2015

Shares of Credit Suisse Group AG (CS) were up +1.35 or +5.73 percent to $24.89 per share in pre-market trading this morning, after the company confirmed early this morning that Chief Executive Officer Brady Dougan would step down and be replaced the Tidjane Thiam, currently Chief Executive Officer of UK insurance company, Prudential (PUK). Credit
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Rising Blue Chips, $22.4 Billion Hostile Takeover Send Dow Up

March 9th, 2015

The Dow closed up 138.94 points in trading today, ending at 17.995.72, driven at least in part by a blue chip recovery. The S&P 500 and NASDAQ were both up as well, gaining ground steadily over the course of the trading day. The S&P 500 rose 8.17 points to close at 2,079.42, while the NASDAQ
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RTI International Metals Inc. (RTI) to be Acquired by Alcoa in $1.5B Deal

March 9th, 2015

Shares of RTI International Metals Inc. (RTI) were trading up +12.72 or +46.63 percent to $40.00 per share in Monday’s premarket after news broke that the company had entered into a definitive agreement to be acquired by Alcoa Inc. (AA). RTI International Metals Inc. stock closed at $27.28 per share, down -0.54 or -1.94 percent
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Dow Drops 400 After Starting the Week at Record Highs

March 6th, 2015

The Dow was down this week after a record-setting start. It fell 276 points over 5 days, and closed the week at 17,856.78. The NASDAQ and S&P 500 both lost ground as well, with the NASDAQ falling -26 points and the S&P 500 down by -33. The NASDAQ closed the week at 4,927.37 and the
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Markets Plummet 280 Points On Fears of a Rate Hike

March 6th, 2015

The Dow was down big in trading today, losing -278.94 points and dipping below 18,000 for the first time in over a week. It ended the day at 17,856.78. The N&P 500 and NASDAQ were both down as well, with the S&P 500 losing -29.78 points and the NASDAQ dropping -55.44. In overseas trading, Hong
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HBO (TWX) in Talks with Apple for Launch of HBO Now

March 6th, 2015

Shares of Time Warner Inc.(TWX) closed up +0.18 or +0.22 percent to $83.26 per share in Thursday’s regular trading session after news that its wholly owned subsidiary, Home Box Office Inc. was in talks with Apple Inc. (AAPL) to make Apple a launch partner for the company’s new streaming service which debuts next month. The
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Afternoon Rally Breaks a Losing Trend for the Market

March 5th, 2015

Domestic markets were up across the board today, with the Dow, NASDAQ, and the S&P 500 all gaining slightly. The Dow added 38.82 points to close at 18,135.72, NASDAQ was up 15.67 to 4,982.81, and the S&P 500 gained 2.51 points to end the day at 2,101.04. The big story of the day in overseas
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Costco (COST) Stock Up on Earnings, Misses on Revenue

March 5th, 2015

Shares of Costco Wholesale Corporation (COST) were up +3.39 or +2.30 percent to $150.56 per share in Thursday’s premarket, after the company reported better than expected second quarter earnings and February sales results early this morning. Costco Wholesale stock closed at $147.17 per share, down -0.20 or -0.14 percent in Wednesday’s regular trading session. Originally
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