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Market Commentary

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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IBM’s (IBM) Earnings Miss, to Pay GlobalFoundries $1.5B for Chip Division

October 20th, 2014

Shares of International Business Machines Corp. (IBM) were trading down -12.30 or -6.76 percent to $169.75 per share in pre-market trading this morning, after the company announced it would pay $1.5 billion to GlobalFoundries to get rid of the company’s losing chip division. IBM stock closed at $182.05, up +2.21 or +1.23 percent in Friday’s
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Stocks Rally on Friday, Still End the Week Down

October 17th, 2014

Weekly Wrap Up The stocks end the week rallying, but the Dow Jones still closed down 1% for the week after jumping up 263 points on Friday. Yesterday’s rally was optimistic but stocks are still down for October. Nasdaq is down over 5% this month and this is the fourth straight week that the Dow
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Dow Rises 263 Points, Posting 2nd Best Day of 2014

October 17th, 2014

Stocks end day sharply higher as strong earnings reports are being delivered. The rebound rally in Europe also aided in the rally, ending the Dow’s six session losing streak. The 5.6% drop that Wall Street experienced yesterday pales in comparison to many other drops in October, and it didn’t even make the top 10 worst
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Google (GOOG) Reports Lower than Expected Profit on Higher Sales

October 17th, 2014

Shares of Google Inc. (GOOG) were trading down -4.11 or -0.78 percent to $520.40 per share in premarket trading on Friday, after the company reported a small drop in third quarter net income with an increase in sales on Thursday after the closing bell. Google stock closed at $524.51, down -5.52 or -1.04 percent in
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Apple’s Shares Down After iPad Unveiling; Google Falls Short of Wall Street’s Expectations

October 16th, 2014

U.S. stocks end the day mixed with Nasdaq and the S&P 500 ending the day in the green, while the Dow ended the day down only 24 points. Apple (AAPL) unveiled its newest products today, but investors didn’t respond positively. Apple’s stock closed down 1.3% to $96.26. Google’s (GOOG) shares were down as much as
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Netflix (NFLX) Stock Pummeled after Lower Subscription Growth

October 16th, 2014

Shares of Netflix Inc. (NFLX) were down -115.59 or -25.77 percent to $333.00 per share in Thursday’s premarket, after the company announced earnings yesterday following the market close. While earnings were better than expected, revenue and new subscriptions failed to meet analyst forecasts. Netflix stock closed at $448.59 per share, off -0.53 or -0.12 percent
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Dow is Down for 5th Straight Day; Netflix Tumbles 24%

October 15th, 2014

U.S. stocks end the day in the red. Investors were worried late in the day as the Dow was down 460 points, but ended the day down only 173 points. The stocks continued to be dragged down by a slowing global economy, mixed Q3 corporate earnings reports, and fear of the Ebola virus spreading throughout
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Domino’s Pizza (DPZ) Up on Better Than Expected Earnings

October 15th, 2014

Shares of Ann Arbor, Michigan, based Domino’s Pizza, Inc. (DPZ) closed higher on Tuesday, in a market that was flat overall. The stock rose 11.33%, or $8.58 per share, to close at $84.30, on volume of 2,277,245 shares. The company reported third quarter earnings that exceeded analysts expectations, causing the stock price to surge. Founded
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