Shares of JP Morgan Chase & Co. (JPM) closed up +0.73 or +1.40 percent to $53.02 on Tuesday, after a proposal to split the roles of chief executive and chairman was defeated in a vote by shareholders. The results left CEO and Chairman Jamie Dimon, in the same position, apparently, Dimon hinted at quitting, which
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Market Commentary
Dimon Retains Chair at JP Morgan Chase (JPM)
May 22nd, 2013Fed Remarks Push Dow and S&P to New Record Highs (AAPL, JPM)
May 21st, 2013Both the Dow and S&P 500 ended at record highs on Tuesday after the Fed signaled that it is far from winding down its quantitative easing. Industries that made positive moves today included health-care, financial and consumer stocks, while tech companies faltered. Herbalife (HLF) continued to trade another 2% higher and JP Morgan (JPM) also
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Apple (AAPL) Scores a $1 Billion Win Against Samsung
May 21st, 2013 After years of legal wrangling, Apple (AAPL) finally scored a decisive blow against nemesis Samsung last week, after a jury declared that Samsung owes Apple at least $1.049 billion for intellectual property violations.
The jury found that all three…
Market Rally Pauses as the Fed Calls for More Time (YHOO, CPB)
May 20th, 2013Despite hitting new highs earlier in the day the major indices finished in the red on Monday. Yahoo’s (YHOO) stock went up and down as the company tries to complete its deal to purchase Tumblr for $1.1 billion. Energy companies such as Chesapeake Energy Corp. (CHK) and First Solar Inc. (FSLR) had a strong day
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The Sun Shines on SolarCity (SCTY) Again
May 20th, 2013Shares of SolarCity (SCTY), which installs solar energy systems to residential and commercial customers, surged more than 20% last week, although the company posted a disappointing net loss for its first quarter. During the first quarter, SolarCity …
US Indices Finish With Fourth Straight Week of Gains (DELL, TSLA)
May 17th, 2013Weekly Wrap Up Several positive economic indicators were released towards the end of the week that signaled economic expansion in the US. Consumer sentiment rose more than was anticipated and unemployment dropped in many states throughout the country. Both the Dow and S&P hit record highs at points during the week. Companies such as Cisco
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Consumer Sentiment Pushes Stocks Higher on Friday (FB, JWN)
May 17th, 2013On Friday it was announced that consumer sentiment in the US rose more than expected, sending stocks higher by the end of the day. While this was great news much focus still remained on the subject of quantitative easing and what the Fed plans on …
Wendy’s (WEN) Attempts to Go Bistro
May 17th, 2013Last week, fast food giant Wendy’s (WEN) slid after the company reported disappointing first quarter earnings. For its first quarter, the second largest burger chain after McDonald’s (MCD) reported a profit of $0.01 per share, or $2.1 million, an 83…
Fed Comments and Missed Earnings End Market Rally (DELL, CSCO)
May 16th, 2013Stocks turned downward on Thursday on rumors that the Fed may be easing up on their bond purchases as soon as this summer. Even though the Dow hit an intraday high of 15,302.49, all three major indices edged lower by the close of the bell. Housing…
Electronic Arts (EA) Soars on Star Wars
May 16th, 2013Last week, Activision (ATVI) reported better-than-expected earnings, but was harshly punished for a loss of World of Warcraft subscribers and weaker-than-expected guidance. Yet on the same day, its rival Electronic Arts (EA) rallied 17% after missin…
Rally Continues on Positive Earnings; Google Tops $900 (GOOG, CSCO)
May 15th, 2013The major indices continue to rally and extend their record run of highs. Reports noted a contraction in US manufacturing but stocks were able to shake this news off and surge higher. Google (GOOG) closed at a record share price over $900 after re…
Tesla (TSLA) Stock Off 5 Percent as Short Squeeze Abates
May 15th, 2013Shares of Tesla Inc.(TSLA) closed down -4.56 or -5.19 percent to $83.24 on Tuesday, after having traded as high as 97.12 inter-day, a new all-time high. Tesla stock had been trading at $56.00 per share on Wednesday, May 8th, before soaring after the…
Markets See Fresh Highs on Tuesday; Sony Feels Pressure to Split (SNE, BAC)
May 14th, 2013The Dow saw its 18th straight positive Tuesday and added 123.57 points while the S&P hit a new high as well. Financial stocks including Bank of America (BAC) and JPMorgan Chase (JPM) along with the energy, health care and utilities sectors advanced. Apple (AAPL) saw a big drop in stock of 2.4% while Sony (SNE)
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Burger King’s (BKW) Value Menu Troubles
May 14th, 2013The market has been indifferent to Burger King Worldwide’s (BKW) first quarter earnings, which the company reported at the end of April. However, Burger King’s lopsided earnings and sales growth, along with its strong international growth, indicate …
Economy Shows Strength with Retail Sales Gain; Stocks Trade Sideways
May 13th, 2013On Monday several economic reports were released in the United States that surprised economists. Retail sales rose during the month of April and pointed to the growing strength of the economy. After this positive news several investors raised their estimates for Q2 growth. Both JPMorgan (JPM) and Goldman Sachs (GS) revised their forecasts to about
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Activision Blizzard (ATVI) Slumps on Bleak World of Warcraft Declines
May 13th, 2013Shares of video game publisher Activision Blizzard (ATVI) slipped last week, despite reporter strong first quarter earnings that beat analyst estimates on both the top and bottom lines. For its first quarter, Activision earned an adjusted $0.17 per …
Rare US Budget Surplus Reported for April; Dell Receives Fresh Bid (DELL)
May 10th, 2013On Friday the Fed began a two-day gathering for finance ministers to discuss banks and competition. Ben Bernanke made statements that the US central bank will keep watch on the risks that go along with low interest rates. It was announced that the…
The Oracle Wins Again as Berkshire’s (BRK.A) Profits Soar 51%
May 10th, 2013Last week was an interesting one for the Oracle of Omaha, Warren Buffett. Mr. Buffett, who has long avoided tech stocks, posted his first tweet on Twitter, simply stating “Warren is in the house.” Meanwhile, his company, Berkshire Hathaway (BRK.A), …
Wall Street Sees Third Week of Gains on Strong Tech Moves
May 9th, 2013Weekly Wrap Up This week the S&P 500 continued to rally and hit record numbers and by Tuesday the Dow topped 15,000 for the first time. All three major indices saw their third week of consecutive gains. Even though job openings fell this month, jobless claims dropped to an unexpectedly low number and the four-week
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Fed Minutes Cause Stocks to Dive; Housing Market Gains Strength (HPQ, TGT)
May 22nd, 2013On Wednesday minutes from the most recent Federal Reserve meeting were released to the public and pushed stocks lower. Ben Bernanke signaled that the bank may be closer to ending its QE program. Despite early gains for the major indices, all three turned lower by the end of the day. After the comments were released
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