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Market Commentary

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 (“AIC”) in Shanghai and Beijing were fining the company a total of $540,000 or 3.26 million RMB. The fines were the result of Nu Skin
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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 Planet’s patent portfolio. Unwired Planet stock closed
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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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GM Issues 3 More Recalls; Apple Developing Healthbook App

March 17th, 2014

The Dow Jones ends in the green after ending down all of last week. All three of the U.S. stock indices ended up as investors are seeming to disregard the weekend vote in Crimea. The automobile recall woes seem to continue. General Motors (GM) has issued 3 new recalls, not related to the recent ignition
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Intercept (ICPT) Announces Positive Results for Liver Drug Trial

March 17th, 2014

Shares of Intercept Pharmaceuticals Inc. (ICPT) were down -32.26 or -6.98 percent to $430.00 per share in pre-market trading on Monday, after the company announced in their 10K filing late Friday that there were adverse cardiac issues connected to their experimental drug for the treatment of liver disease. The company announced on Sunday that its
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Apple Unlikely to Release 12.9″ iPad; Aeropostale Continues to Struggle

March 14th, 2014

Stocks closed down once again, which is the fifth straight day in a row for the Dow Jones. After recently raising the Amazon (AMZN) Prime cost in Europe, it was only a matter of time until the price was also raised in the US. Amazon has decided to raise the yearly price by $20 to
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Warren Buffett Expects Stocks to Remain Strong; Multiple Bankruptcy Filings

March 14th, 2014

Weekly Wrap Up The stocks were mostly down this week, with the Dow Jones falling over 200 points on Thursday. Despite the low week for stocks, investor Warren Buffett doesn’t think that it should be alarming. He does however believe that a market plunge similar to what occurred in 2008 will occur again, but not
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Amazon (AMZN) Prime Cost Increased by $20

March 14th, 2014

Shares of Amazon.com, Inc. (AMZN) were trading up +3.49 or +0.94 percent to $375.00 per share in pre-market trading on Friday, after the company announced it was raising the cost of its Amazon Prime service by $20 per year from $79 to $99. The cost increase reflects the extra features besides streaming video Amazon is
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Retail Sales Up in February; Dow Falls Over 200 Points

March 13th, 2014

The Dow falls over 200 points to end down for the fourth straight day. Geopolitical and economic risks abroad seem to be the cause of this drastic drop. McDonald’s (MCD) has multiple class-action lawsuits currently filed against them. Workers in three different states are suing the fast food company over wage theft violations after not
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FTC Launches Probe on Herbalife (HLF)

March 13th, 2014

Shares of Herbalife Ltd. (HLF) closed down -4.82 or -7.37 percent to $60.57 per share on Wednesday, after news that the company had received a Civil Investigative Demand or CID from the U.S. Federal Trade Commission. Trading in Herbalife shares was halted before the announcement, reopening down -8.0 percent to the $60 per share level.
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