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Market Commentary

Vertex Pharmaceuticals Inc. (VRTX) Up on Positive Drug Trials

June 25th, 2014

Shares of Cambridge, Massachusetts-based Vertex Pharmaceuticals (VRTX) were up sharply on Tuesday, amid a broadly lower market on Wall Street. Vertex’s stock was up 40.41%, rising $26.92 to close at $93.53 per share, on volume of 25,236,837 shares. The company announced positive results for a drug it has formulated in treating cystic fibrosis. The successful
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Consumer Confidence Hits 6-Year High, Climate Change Poses Economic Risk

June 24th, 2014

Stocks continue to back away from their record highs that they hit last Friday. Consumer confidence continues to rise and hit a 6-year high in June. The main factors that led to an increased consumer confidence level were rising stock prices and continual job growth. A bipartisan report was released today suggesting that future climate
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Dean Foods (DF) Subpoenaed in Insider Trading Case

June 24th, 2014

Shares of the Dean Foods (DF) were off -0.52 or -2.96 percent to $17.03 per share in after hours trading yesterday afternoon , after news that the company was recently served with a subpoena from Preet Bharara, the United States Attorney for Manhattan. The subpoena was for documents related to alleged insider trading by sports
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Existing Home Sales Post Best Gain Since 2011; Stocks Retreat From Record Highs

June 23rd, 2014

The Dow and S&P 500 retreat from record highs, while Nasdaq ends the day slightly up. Existing home sales rose 4.9% in May, for the second straight month. The monthly gain is the highest gain since August 2011. A massive combined airbag recall of nearly 3 million vehicles worldwide was announced by Honda (HMC), Mazda,
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MICROS Systems (MCRS) to be Acquired by Oracle for $5.3B

June 23rd, 2014

Shares of the MICROS Systems Inc. (MCRS) were trading up +1.63 or +2.48 percent to $67.40 per share in pre-market trading on Monday, after news that Oracle Corp. (ORCL) would be taking the company over in a $5.3 billion deal. MICROS Systems stock closed at $65.77 per share, up +0.52 or +0.80% in Fridayâ s
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Housing Recovery Faltering; Nasdaq Closes at 14-Year High

June 20th, 2014

The record finishes continue as the Dow and S&P 500 both end at all-time highs. Nasdaq also finished in the green at a 14-year high. The number of available jobs increased in most states during May thus the jobless rate fell in 20 states last month. Also, jobless rates were below the national average of
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Fed Continues to Trim Stimulus; Amazon Unveils 3-D Fire Phone

June 20th, 2014

Weekly Wrap Up The week ended on a high note with the Dow Jones and S&P 500 closing at record highs. In addition, Nasdaq closed at a 14-year high. The Federal Reserve met this week and announced, as expected, that they would be cutting the stimulus package by another $10 billion, reducing monthly spending from
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Oracle (ORCL) Shares Down After Earnings Miss

June 20th, 2014

Shares of the Oracle Corporation (ORCL) were down -2.62 or -6.16 percent to $39.89 in pre-market trading this morning, after the company announced lower than expected fourth quarter earnings late yesterday. Oracle stock closed at $42.51, down -0.30 or -0.70 percent in Thursdayâ s regular trading session. Redwood City, California based Oracle Corporation is the
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Record Finishes Continue for S&P 500; American Apparel’s CEO Ousted

June 19th, 2014

The S&P 500 hit a record close for the second straight day. Additional earnings reports were released today, revealing mixed results. Rite Aid (RAD), Coach (COH), and Pier One’s (PIR) shares all fell after they reported disappointing earning forecasts. Kroger’s (KR) shares jumped up 5% after the grocery store reported higher than expected first-quarter earnings.
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Measurement Specialties (MEAS) to be Acquired by TE Connectivity

June 19th, 2014

Shares of Measurement Specialties Inc. (MEAS) were up + 8.15 or +10.45 percent to $86.15 per share in pre market trading early Thursday, after news released late Wednesday that TE Connectivity Ltd. (TEL) and Measurement Specialties had entered into a definitive agreement for the acquisition of Measurement Specialties by TE Connectivity for $86.00 per share.
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Fed Cuts Stimulus by Another $10 Billion, Reduces U.S. Economic Growth Forecast

June 18th, 2014

The S&P 500 closed at a record high today, nearly reaching 2,000, while Nasdaq closed at a 2014 high. The Dow Jones also ended the day in the green. The Federal Reserve met today and reduced its forecast for U.S. economic growth in 2014. The Fed still does believe that the unemployment rate will continue
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SolarCity (SCTY) Up on Acquisition of Solar Panel Manufacturer

June 18th, 2014

Shares of San Mateo, California based SolarCity Corp. (SCTY) rose sharply on an overall up day on Wall Street. SolarCity’s stock was up 17.58%, rising $9.65 per share to close at $64.53, on volume of 24,105,997 shares. The company announced that it is acquiring a solar panel maker, that will be a “breakthrough in the
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Consumer Prices Rose as the Housing Market Fell in May

June 17th, 2014

Stocks close the day higher for the third straight day. The housing market fell more than expected in May. Housing starts fell 6.5% month over month in May, which was worse that the expected fall of 3.9% month over month. Consumer prices also rose more that expected last month. The consumer price index jumped up
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eBay’s (EBAY) PayPal Expands to 10 New Countries

June 17th, 2014

Shares of eBay Inc. (EBAY) were trading up +0.17 or +0.35 percent to $49.17 per share in pre-market trading on Tuesday, after the company announced yesterday that their PayPal unit was expanding into ten new countries including Nigeria. eBay stock closed at $49.00 per share, down -0.04 or -0.08 percent in Mondayâ s regular trading
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IMF Pulls Back U.S. Growth Forecast in 2014; Alibaba Closer to IPO Debut

June 16th, 2014

Stocks end the day barely up for the second straight day. The dismal first quarter performance forced the International Monetary Fund to pull back its forecast for U.S. growth in 2014. The main culprit of poor performance in Q1 was the harsh winter weather, which shrunk the annual growth rate to around 1%. Alibaba is
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Medtronic (MDT) to Acquire Covidien in $49.2 Billion Deal

June 16th, 2014

Shares of the Medtronic Inc. (MDT) were trading up +7.45 or +12.27 percent to $68.15 per share in pre-market trading Monday morning, after news broke on Sunday that the company would be taking over UK based Covidien plc (COV) for $49.2 billion. Medtronic stock closed at $60.70, down -0.09 or -0.15 percent in Fridayâ s
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Priceline to Purchase OpenTable; Justice Department Prepares to Sue Citigroup

June 13th, 2014

After ending down for most of the week, all three main indices in the U.S. ended the day in the green. The Justice Department is preparing to sue Citigroup (C) over the bank’s sale of mortgage-backed securities. The Justice Department could file the lawsuit as early as next week. P.F. Chang’s is the most recent
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S&P 500 Surpassing 2014 Outlook; Global Unrest Drives Stocks Down

June 13th, 2014

Weekly Wrap Up Stocks had a rocky week partially due to the ongoing unrest in Iraq. This unrest is also pushing crude oil prices to their highest level this year and increasing the global demand for oil. The World Bank also lowered its global economic outlook due to ongoing conflicts in many parts of the
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Intel (INTC) Shares Higher on Revised Guidance

June 13th, 2014

Shares of the Intel Corporation (INTC) were up +1.78 or +6.37 percent to $29.74 per share in pre-market trading on Friday, after the company raised second quarter and full year revenue and gross margin expectations Thursday afternoon. Intel stock closed at $27.96 per share, up +0.03 or +0.11 percent in Thursdayâ s regular trading session.
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Oil Prices Hit 8-Month High; Caterpillar’s Shares Up 20% in 2014

June 12th, 2014

Stocks continued to fall deeper in the red today, mainly due to escalating violence in Iraq and mixed economic signals. It is also likely that gas prices will quickly rise due to the tension in Iraq; gas was pushed to an eight-month high today. One of the most important stocks in the Dow is Caterpillar
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