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Market Commentary

Record Finishes Continue for Dow and S&P 500; Nasdaq Hits 3-Month High

June 6th, 2014

Weekly Wrap Up The Dow Jones and the S&P 500 achieved multiple record closes throughout the week. They both also ended the week with record highs and Nasdaq finished the week off at its highest level in almost 3 months. The May jobs report was released on Friday and the U.S. added 217,000 jobs last
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217,000 Jobs Added in May; Uber Valued at $17 Billion

June 6th, 2014

May’s job report was released today showing that more jobs were created than expected. The U.S. added 217,000 jobs last month while the unemployment rate remained constant at 6.3%. The jobs reports pushed stocks even higher, with the S&P 500 and Dow Jones closing at record highs and Nasdaq closing at its highest level in
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GW Pharmaceuticals’ (GWPH) Epidiolex Fast Tracked by FDA

June 6th, 2014

Shares of GW Pharmaceuticals plc (GWPH) were up +5.15 or +7.60 percent to $72.93 per share in pre-market trading this morning, after the company announced its cannabis based drug Epidiolex, for the treatment of Dravet Syndrome, was granted Fast Track designation by the U.S. Food and Drug Administration. GW Pharmaceuticals stock closed at $67.78 per
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U.S. Household Wealth Hits Record High in Q1; GM Fires 15 in Response to Pending Investigation

June 5th, 2014

Stocks continued to gain throughout the day resulting with the Dow and S&P 500 closing at record highs. General Motors (GM) has taken action in response to the continual investigation into the faulty ignition switches that caused at least 13 deaths, firing 15 employees and disciplining 5 more. At least half of the employees who
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T-Mobile (TMUS) and Sprint Close to an Agreement

June 5th, 2014

Shares of T-Mobile International AG (TMUS) were up +0.72 or +2.10 percent to $35.00 per share in Thursdayâ s pre-market, after it was revealed late yesterday that Sprint Corp. (S) was close to reaching an agreement for the acquisition of T-Mobile in a deal that could value the company for as much as $40 billion.
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Private Sector Adds 179k Jobs in May; U.S. Economy Grew in all 12 Bank Districts

June 4th, 2014

U.S. stocks rallied after yesterday’s loss with the S&P 500 continuing to gain and closing at yet another record high. ADP (ADP) announced today that the private sector added only 179,000 jobs in May, failing to meet expectations. Many economists were predicting that there would be approximately 215,000 jobs added by the private sector in
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The Fresh Market (TFM) Rises on Insider Buying

June 4th, 2014

Shares of Greensboro, North Carolina, based The Fresh Market, Inc. (TFM) rose on Tuesday on news of insider buying. The Fresh Market’s stock was up $2.43 per share, or 7.96%, to $32.95, on volume of 1,091,600 shares. The company disclosed that it’s chairman purchased a large block of the company’s stock last week. Founded in
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Gold Prices Continue to Fall; Pilgrim’s Pride Ups Bid for Hillshire Brands

June 3rd, 2014

Stocks fall as they retreated from record highs yesterday. All three U.S. indices ended the day down. The price of gold continues to slip as it hit its lowest level since January. Despite the fall, many believe that it is just a natural reaction to the rising stock prices. Despite their massive recalls, General Motors
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Quiksilver (ZQK) Off 37 Percent After Earnings Miss

June 3rd, 2014

Shares of Quiksilver Inc. (ZQK) were trading down -2.16 or -37.31 percent to $3.63 per share in pre-market trading on Tuesday, after the company announced financial results for its second fiscal quarter ended April 30th. Quiksilver released earnings after the close showing a wider than expected loss, driving the stock down -27 percent on more
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Record Finishes Continue for Dow and S&P 500; U.S. Manufacturing Up in May

June 2nd, 2014

The record days continue as the S&P 500 finishes at a record high for the third straight day while the Dow Jones achieved another record close for the second straight day. The Institute for Supply Management initially reported that U.S. manufacturing fell from 54.9 to 53.2 in May. But economists discovered an error and the
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Five Stocks to Watch in June

June 2nd, 2014

The U.S. stock market made yet another record in May, with the S&P 500 Index making a new all-time high on May 23rd and closing the month just 0.46 shy of the record. Nevertheless, some analysts are seeing underlying weakness in that the S&P 500 stocks only traded 1.8 billion shares last month, the lowest
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Dow Jones and S&P 500 End the Month in Record Territory

May 30th, 2014

Weekly Wrap Up The Dow Jones and S&P 500 both ended the month in record territory. The S&P 500 ended with record highs multiple days this past week, but was joined by the Dow on Friday. Despite ending the day down, Nasdaq posted a gain for the month of May. For the first time in
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Consumer Spending Unexpectedly Fell in April; Dow also in Record Territory

May 30th, 2014

The Dow Jones joined the S&P 500 to both finish the day record territory. Nasdaq ended down. The stocks were red during the majority of the day after reports showed that consumer spending dropped in April. This was an unexpected dip and was the first time American consumers cut back on spending in nearly a
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Annie’s (BNNY) Stock Pummeled on Earnings, Guidance

May 30th, 2014

Shares of Annieâ s Inc. (BNNY) were off -5.63 or -16.14 percent to $29.25 per share in pre-market trading on Friday, after the company announced earnings yesterday after the close. While earnings per share were better than expected, the companyâ s full year guidance disappointed analysts. Annieâ s stock closed at $34.88, up +0.24 or
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U.S. Economy Shrinks 1% in Q1; Bitcoin is Back

May 29th, 2014

The S&P 500 rallies after yesterdays loss to end the day up and hits yet another record close. The Dow Jones and Nasdaq also ended the day in the green. The U.S. economy shrunk in the first quarter for the first time in three years. It does appear that the decline will lead to a
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Intercept’s (ICPT) OCA Gets Fast Track Designation From FDA

May 29th, 2014

Shares of Intercept Pharmaceuticals Inc. (ICPT) were up +16.97 or +7.25 percent to $251 per share in pre-market trading on Thursday, after the company announced late yesterday that the FDA had granted Fast Track designation for the companyâ s obeticholic acid (OCA). Intercept stock closed at $234.03 per share, down -5.89 or -2.45 percent in
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Is the Market Too Pricey?; DSW Down 25%

May 28th, 2014

Stocks end the day lower as the S&P 500 falls from its record high yesterday. The continual setting of record highs is disconcerting to many investors who are beginning to believe that the U.S. stock market is getting too pricey. Shares of shoe retailer DSW (DSW) fell nearly 25% during the day after sharply missing
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Hillshire Brands (HSH) Soars on Takeover Bid

May 28th, 2014

Shares of Chicago, IL, based Hillshire Brands Company (HSH) soared on Tuesday on a buyout bid from Pilgrim’s Pride (PPC). The stock was up $8.17 per share, or 22.07%, to close at $45.19, on volume of 41,656,963 shares. The stock closed near it’s 52 week high. In a surprise bid, Pilgrim’s Pride made a $5.5
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Consumer Confidence Up in May; S&P 500 Hits Another Record High

May 27th, 2014

The S&P 500 hits another new record as it closed above 1,900 for the second straight day. The Dow Jones and Nasdaq also ended the day up. The Consumer Confidence Index rose 1.7 in May, up to 83 from 81.7 in April. Many consumers’ expectations for the economy improved, along with the warmer weather. Durable
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Pfizer (PFE) Abandons AstraZeneca Bid

May 27th, 2014

Shares of Pfizer Inc. (PFE) were up +0.21 or +0.71 percent to $29.70 per share in pre-market trading this morning. The company announced yesterday that it was abandoning its $118 billion bid for UK pharmaceutical giant AstraZeneca (AZN). Pfizer issued a statement yesterday two hours before the 12:00PM EST deadline for AstraZeneca to counter the
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