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Market Commentary

Dow Jones and S&P 500 End October With Record Highs

October 31st, 2014

October is typically known for its market crashes, but this year the month ended with stocks at record highs. The Dow Jones and S&P 500 closed out the day at record highs, while Nasdaq climbed as high as 4641.51 in early trading, its highest level in over 14 years. Global stocks reacted positively to Japan’s
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Citigroup (C) Downwardly Adjusts Third Quarter Earnings

October 31st, 2014

Shares of Citigroup Inc. (C) were trading down -0.75 or -1.41 percent to $52.40 per share in pre-market trading on Friday, after the company announced it was downwardly adjusting its third quarter earnings due to increased legal costs. Citigroup stock closed at $53.15 per share, up +0.51 or +0.97 percent in Thursday’s regular trading session.
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Dow Gains 221 Points Thanks to Visa Surging 10.5%

October 30th, 2014

Stocks end the day in the green. Dow partially owes its 221 point gain to Visa (V), who surged 10.5% today after posting a better-than-expected quarterly earnings report. Visa posted a Q3 EPS of $2.18, slightly above the $2.10 forecast. The U.S. economy grew much faster than expected in Q3. GDP expanded at a seasonally
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Lakeland Industries (LAKE) Stock Up on Ebola Suit Demand

October 30th, 2014

Shares of Lakeland Industries Inc. (LAKE) were up +4.11 or +35.49 percent to $15.69 per share in Thursday’s premarket, after the company released an update to its business activities following the stock market close yesterday. Lakeland Industries stock closed at $11.58, down -0.66 or -5.39 percent in Wednesday’s regular trading session. Ronkonkoma, New York based
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Fed Ends Bond Buying Program, Pledges to Keep Interest Rates Low

October 29th, 2014

Stocks end the day down after the Fed announced that they would end the bond buying program. Despite recent global economic troubles and continual volatility in the stock market the Fed has decided to end the bond purchasing program that began in 2008. The Federal Reserve believes that the bond buying program has greatly supported
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VASCO Data Security International (VDSI) Jumps As Earnings Beat Expectations

October 29th, 2014

Shares of Oakbrook Terrace, Illinois, based VASCO Data Security International (VDSI) rose sharply on Tuesday, against the backdrop of a strong day in stocks overall. VASCO’s stock was up 29.74%, rising $5.44 per share, to close at $23.73 on volume of 4,424,429 shares. The security software company beat analysts estimates for both revenue and net
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Facebook Beats Estimates for 6th Straight Quarter; Dow Finishes Above 17,000

October 28th, 2014

All 3 main U.S. stocks indices ended the day in the green, with the Dow Jones closing above 17,00 for the first time in weeks. Nasdaq surged 1.7% after speculation of a possible partnership between Apple (AAPL) and Alibaba (BABA). Both companies benefited from the speculation, as Alibaba closed the day up 1.4%, while Apple
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Twitter (TWTR) Stock Down Sharply on Third Quarter Earnings

October 28th, 2014

Shares of Twitter Inc. (TWTR) were trading down -6.66 or -13.71 percent to $41.90 per share in Tuesday’s premarket after the company announced third quarter earnings after the close yesterday. While the company met or beat analyst expectations for earnings, user growth expectations fell slightly below analyst forecasts. Twitter stock closed at $48.56, off -1.39
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Tesla Falls After Toyota Reduces Stake; Twitter Tops Wall Street’s Estimates

October 27th, 2014

Stocks end the day mixed, with the Dow and Nasdaq slightly up and the S&P 500 slightly down. Tesla (TSLA) fell 5.8% today after Toyota (TM) reduced its stake in the electric car maker. Toyota first invested in Tesla in 2010 for around $50 million; a Toyota spokesman also stated that the company would not
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Sarepta Therapeutics (SRPT) Delays Filing for Muscular Dystrophy Drug

October 27th, 2014

Shares of Sarepta Therapeutics Inc. (SRPT) were trading down -7.86 or -33.36 percent to $15.70 per share in premarket trading on Monday. The company announced today it was delaying its filing for approval of its drug Eteplirsen for muscular dystrophy until 2015 following a request for more information on the drug from the FDA. Sarepta
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S&P 500 Posts Biggest Weekly Gain of 2014

October 24th, 2014

Weekly Wrap Up Stocks closed higher on Friday, with the S&P 500 posting its biggest weekly gain of 2014. Oil prices hit a 27-month low this week as the price of crude oil fell to nearly $80 a barrel. Some economists believe that crude oil prices can and will drop even further, possible down to
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Ford’s Net Income & Profit Falls; SodaStream Up 16%

October 24th, 2014

Stocks end the day up on Friday, with the S&P 500 posting its biggest weekly gain of 2014. Ford Motor (F) announced their profit and net income today, and it was drastically lower than the same quarter a year ago. Ford said that it had a pre-tax profit of $1.2 billion this quarter, less than
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Lockheed Martin (LMT) to Deliver 43 More F-35s in $4B Deal with Pentagon

October 24th, 2014

Shares of the Lockheed Martin Corporation (LMT) were up +0.56 or +0.31 percent to $181.23 in premarket trading this morning, after news yesterday that the company had reached an agreement with the U.S. Department of Defense for the delivery of another 43 F-35 fighter jets. Lockheed Martin stock closed at $180.67, up +4.66 or +2.65
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Microsoft Exceeds Expectations; Amazon Posts Net Loss of $437M in Q3

October 23rd, 2014

Stocks end the day higher due to some strong corporate earnings reports from Caterpillar (CAT), General Motors (GM), and Microsoft (MSFT); but a recent Ebola scare trimmed the Dow’s gains late in the afternoon trading session. Microsoft topped Wall Street’s estimates of 49 cents a year, earning 54 cents a share. The technology giant also
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Nokia (NOK) Stock Higher After Earnings, Improved Outlook

October 23rd, 2014

Shares of Nokia Corp. (NOK) were up +0.70 or +8.83 percent to $8.63 per share in pre-market trading this morning, after the company released better than expected third quarter earnings early this morning. In addition to earnings, the company gave a bullish full year outlook. Nokia stock closed at $7.93, down -0.24 or -2.94 percent
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Oil Prices Hit a 27-Month Low; Apple Stock Achieves New All-Time High

October 22nd, 2014

The U.S. market’s strong advances came to an abrupt end today as the Dow is now in the red for the year and the S&P 500 ended its 4-day winning streak. Investors are partially blaming the deadly shootout that occurred in and around Canada’s parliament today for the drop. Oil prices continue to slide, falling
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Ocwen Financial (OCN) Plummets on Backdating Allegations

October 22nd, 2014

Shares of Atlanta, Georgia, based Ocwen Financial Corp. (OCN) fell sharply on Tuesday, bucking the strong rise in stocks across the board. Ocwen’s stock closed down 18.20%, falling $4.78 per share to close at $21.48 per share on volume of 23,268,561 shares. A New York state regulator is alleging that the company backdated thousands of
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Yahoo Beats Wall Street Estimates; Staples Investigating Possible Breach

October 21st, 2014

The Dow gained 215 pints today, putting itself back in the black for 2014. Nasdaq closed the day up 2.4%, helped by Apple’s (AAPL) 2.3% jump. The S&P 500 notched its fourth straight day of gains, ending the day 2% higher.  Yahoo’s (YHOO) shares rose 4% in after hour trading today after the Internet company
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Chipotle (CMG) Earnings Top Forecasts, Stock Down on Food Costs, Outlook

October 21st, 2014

Shares of Chipotle Mexican Grill Inc. (CMG) were down -33.03 or -5.06 percent to $620.00 per share in premarket trading this morning after the company announced better than expected third quarter earnings after the market close yesterday. Chipotle shares closed at $653.03, up +11.31 or +1.76 percent in Monday’s regular trading session. Denver, Colorado based
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Apple Up After Exceeding Wall Street’s Expectations; Stocks Add to Friday’s Rally

October 20th, 2014

A calm seems to have come over Wall Street today as all 3 main U.S. indexes end the day in the green. Apple (AAPL) is up in after hour trading after its sales and profits beat Wall Street’s expectations. The technology giant also launched Apple Pay today, which is available for use on all new
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