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Market Commentary

43% of Companies Experienced a Data Breach; Apple Stock Falls on “Bendable” iPhones

September 24th, 2014

Stocks finally recover, ending a 3-day slump as the Dow Jones finishes the day up 154 points. Apple’s (AAPL) stocks fell over 1% today due to claims of poor construction of the new iPhones. There have many reports, by consumers, that the latest iPhone can be bent by applying light pressure. An annual study on data
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GoPro (GPRO) Up on Google’s Investment in YouTube

September 24th, 2014

Shares of San Mateo, California, based GoPro, Inc. (GPRO) rose Tuesday, defying markets which were down across the board. GoPro’s stock was up 6.75%, rising $4.61 to close at $72.88 per share on volume of 7,725,002 shares. The stock was up on news that Google (GOOG) is investing millions of dollars to upgrade YouTube, which
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Global Conflict Drives Stocks Lower; GM Moving Cadillac HQ to NYC

September 23rd, 2014

U.S. stocks fell further today, following the European markets which also fell substantially today due to weaker-than-expected eurozone economic data. Investors are also growing wary and have become more cautious due to all of the global conflicts and the recent airstrikes against the ISIS in Syria. GM (GM) is moving Cadillac’s HQ to Soho in
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Salix Pharmaceuticals (SLXP) to be Acquired by Allergan

September 23rd, 2014

Shares of the Salix Pharmaceuticals Inc. (SLXP) were up +12.47 or +7.80 percent to $172.30 per share in this morning’s premarket. The stock was up as much as 16 percent in afterhours trading yesterday after news that Allergan Inc. (AGN) was in talks with Salix to take over the company. Salix Pharmaceuticals stock closed at
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RadioShack Up 5%; Alibaba Down 4.3%

September 22nd, 2014

Stocks end the day much lower as Alibaba’s (BABA) shares fell 4.3% during its second day of trading. RadioShack’s (RSH) shares rose nearly 5% today after reports were released that the company’s executives are in talks with a major vendor to modify a “commercial relationship” in hopes of avoiding bankruptcy. In recent years, RadioShack has
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Sigma-Aldrich (SIAL) to be Taken over by Merck KGaA

September 22nd, 2014

Shares of the Sigma-Aldrich Corp. (SIAL) were trading up +35.98 or +35.15 percent to $138.35 per share in Monday’s premarket. The company announced early this morning that German company Merck KGaA would be acquiring the company in a deal worth approximately $17 billion. Sigma-Aldrich stock closed at $102.37 per share, St. Louis, Missouri based Sigma-Aldrich
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Apple’s iPhone 6 Release Overshadowed By Alibaba’s IPO Debut

September 19th, 2014

The streak continues as the Dow Jones closes at a record high for a third straight day. Alibaba’s (BABA) IPO was the big story of the day, overshadowing the release of Apple’s (AAPL) iPhone 6. Alibaba’s IPO was set for $68 but surged 38% throughout the trading day to end at $93.89. Alibaba also now
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Record Setting Week for Stocks; Interest Rates to Remain Low

September 19th, 2014

Weekly Wrap Up Overall, it was a really good week for U.S. stocks. The Dow Jones closed at record highs for 3 days this week, joined by the S&P 500 which closed with a record high on Thursday. The Fed held their Federal Open Market Committee this week and the big news out of that
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Alibaba Group (BABA) Prices Offering at $68 Per Share

September 19th, 2014

Shares of the Alibaba Group Holdings Ltd (BABA) were priced at $68.00 apiece, making this morning’s initial public offering of the Chinese Internet giant the largest U.S. IPO ever. The company will raise a minimum of $21.8 billion at that price. The offering was originally priced at $60 to $66, but was raised to $66
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The Dow Jones and S&P 500 End the Day With Record Highs

September 18th, 2014

The Dow Jones continued its record streak, finishing with a record close for the second day in a row. But the Dow wasn’t alone today, the S&P 500 also closed the day with a record high. Oracle’s (ORCL) co-founder, Larry Ellison, is planning on stepping down from his position as CEO. Ellison will remain the
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Rite Aid (RAD) Down on Revised Guidance

September 18th, 2014

Shares of the Rite Aid Corporation (RAD) were trading off -0.94 or -14.16 percent to $5.70 per share in premarket trading this morning, after the company report earnings that beat analyst expectations, but downwardly revised its outlook for the rest of the year. Rite Aid stock closed at $6.64 per share, up +0.23 or +3.59
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Dow Closes With a Record High; Fed Set on Keeping Interest Rates Low

September 17th, 2014

The Dow Jones finishes the day with a record close, mainly due to the Fed saying that the will keep interest rates low for the foreseeable future. Janet Yellen announced today that the Fed does not have a timeline for when they expect to raise interest rates. Food stocks suffered today, in part due to
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Sears Holdings Corporation (SHLD) Down on Loan Funding Source

September 17th, 2014

Shares of Hoffman Estates, Illinois-based Sears Holdings Corporation (SHLD) fell on Tuesday, on a strong day overall on Wall Street. Sears stock closed down 9.40%, losing $3.15 per share, to close at $30.37 on volume of 3,654,016 shares. The company disclosed that it is borrowing $400 million from Chief Executive Edward Lampert’s hedge fund, in
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Investors Fixate on Fed’s Meeting; Final Wave of Microsoft Layoffs Expected This Week

September 16th, 2014

Stocks end the day up, with the Dow Jones finishing just below a record close. Investors are keeping a close eye of the Fed’s 2-day meeting and are waiting anxiously to hear what the Fed’s policymakers have to say regarding interest rates. Many are fixating on whether there will be a change in the notion
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Allergan (AGN), Valeant and Pershing Capital Agree On Meeting

September 16th, 2014

Shares of Allergan Inc. (AGN) were up +1.44 or +0.85 percent to $170.00 per share in premarket trading this morning, after the company announced late yesterday that an agreement had been struck between Valeant Pharmaceuticals (VRX) and Bill Ackman’s Pershing Square Capital to proceed with a special shareholder’s meeting. Allergan stock closed down -0.69 or
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Tech Stocks Plunge; FOMC Meeting Begins Tomorrow

September 15th, 2014

U.S. stocks end the day mixed with the Dow Jones ending the day up, while the S&P 500 and the Dow Jones ended the day in the red. The demand for Alibaba’s IPO may be sinking tech stocks. Alibaba nearing IPO debut may be prompting sales of other tech related stocks; Facebook (FB) fell 4%,
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Netflix (NFLX) Expands to Six European Markets

September 15th, 2014

Shares of Netflix Inc. (NFLX) were trading up +1.16 or +0.24 percent to $477.71 per share in this morning’s premarket, after news that Netflix will be expanding into six new European markets beginning today. The expansion will begin in France where Netflix executives have spent months negotiating with the French government. Netflix stock closed down
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Weak Jobs Data Pulls Stocks Down; Apple Unveils New Products

September 12th, 2014

Weekly Wrap Up Stocks struggled throughout the week, posting their first weekly loss in 6 weeks. The number of Americans filing unemployment claims unexpectedly rose last week. An additional 11,000 Americans filed for unemployment benefits, rising the total to a seasonally adjusted 315,000, the highest level since the end of June. Dollar General (DG) has
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U.S. Stocks Post First Weekly Loss in 6 Weeks; Retail Sales Up 0.6%

September 12th, 2014

U.S. stocks end the day down, posting their first weekly loss in 6 weeks. Target’s (TGT) new CEO, the first to be hired from outside the company, looks to bring in change and a new perspective as the retailer is still struggling to recover from the massive security breach that occurred at the end of
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Hertz (HTZ) Agrees to Give Icahn 3 Board Seats

September 12th, 2014

Shares of Hertz Global Holdings Inc. (HTZ) were up +1.25 or +4.50 percent to $29.00 per share in premarket trading on Friday, after news that the company has agreed to give activist investor Carl Icahn three seats on its board of directors in exchange for avoiding a potential battle for control of the board. Hertz
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