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Market Commentary

Minutes from the Fed’s April Meeting Released; Stocks Rally

May 21st, 2014

Stocks end the day up, with the Dow Jones gaining almost 160 points. This increase is partially due to luxury retailers, which were led by Tiffany’s (TIF) whose shares ended the day up 9%. The minutes from the April FOMC meeting were released today and investors were searching for clues that would help determine when
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Dicks Sporting Goods (DKS) Slides on Lower Projections

May 21st, 2014

Shares of Coraopolis, Pennsylvania based Dicks Sporting Goods (DKS) fell sharply on Tuesday, down $9.56 per share to $43.60, on volume of 15,736,044 shares. The fall represented a 17.98% decline in the price of the stock. Though the company saw significant growth in both earnings and revenues in the first quarter, they warned that both
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Stocks Dragged Down by Weak Retail Earnings; Target Fires Another Executive

May 20th, 2014

Stocks close the day sharply down partially due to weak retail earnings. Dick’s Sporting Goods (DKS), TJX Companies (TJX), Urban Outfitters (URBN) and Home Depot (HD) all failed to meet Wall Street’s expectations, thus driving down the stock indices. Just days after General Motors (GM) recalled nearly 3 million vehicles, the auto maker recalls an
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Credit Suisse (CS) to Pay $2.8 Billion to Settle Criminal Case

May 20th, 2014

Shares of Credit Suisse Group AG (CS) were up +0.41 or +1.41 percent to $29.51 per share in pre-market trading this morning, after the company pled guilty to criminal charges yesterday and agreed to pay $2.815 billion in penalties for conspiring to aid thousands of U.S. account holders in evading taxes. Credit Suisse stock closed
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AT&T Purchases DirecTV for $48.5M; Credit Suisse Charged With Aiding Tax Evasion

May 19th, 2014

Stocks close the day slightly up due to corporate dealmaking. AT&T (T) announced today that they will be purchasing DirecTV (DTV) for $48.5 million. While this acquisition ended with a deal, not all acquisitions were as successful today. AstraZeneca (AZN) rejected Pfizer’s (PFE) “final takeover offer” of £69.4 billion; as a result AstraZeneca’s shares fell
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AstraZeneca (AZN) Rejects Pfizer Offer

May 19th, 2014

Shares of AstraZeneca Plc. (AZN) were off -9.27 or -11.55 percent to $71.01 per share in pre-market trading this morning, after the company rejected a

Roller Coaster of a Week for U.S. Stocks; TrueCar Shares Up 16% During IPO Debut

May 16th, 2014

Weekly Wrap Up Stocks had a roller coaster of a week. The Dow Jones and the S&P 500 achieved a record high on Monday, rose even higher on Tuesday to end at a new record high, then retreated from the record highs on Wednesday. General Motors (GM) was in the news a lot this week.
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GM Assessed $35M Fine; Two-Day Losing Streak Ends

May 16th, 2014

Stocks moved higher during the afternoon trading session to end a two-day losing streak. General Motors (GM) was assessed the maximum fine of $35 million for their recall delay. GM was assessed the fine since they admitted to not notifying the government in a timely manner after discovering the faulty ignition switch. Darden Restaurants (DRI)
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J.C. Penney (JCP) Stock Soars on First Quarter Earnings

May 16th, 2014

Shares of J.C. Penney Company Inc. (JCP) were trading +1.60 or +19.12 percent higher to $9.97 per share in pre-market trading this morning, after the company announced better than expected earnings for the companyâ s first quarter 2014 fiscal year after the close yesterday. Shares were trading as much as +25 percent higher in the
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Walmart’s Poor Q1 Earnings Drags Down the Dow; GM Recalls 3 Million More Vehicles

May 15th, 2014

All three U.S. stock indices ended the day lower, with the Dow Jones being dragged down by Walmart (WMT). Walmart revealed a disappointing earnings report today, reporting that the retailer’s net income dropped by 5% in the first quarter. The mega-retailer sites that the harsh winter weather greatly impacted their earnings report.  It seems like
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Cisco (CSCO) Stock Gains on Third Quarter Results

May 15th, 2014

Shares of Cisco Systems Inc. (CSCO) were up +1.51 or +6.62 percent to $24.32 per share in pre-market trading this morning, after the company reported solid third quarter earnings yesterday after the market close. The company reported non-GAAP earnings of $0.51 per share, versus an analyst consensus of $0.48 per share. Cisco stock closed at
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Stocks Retreat From Yesterday’s Highs; Yahoo Purchases Snapchat Rival

May 14th, 2014

After achieving record finishes yesterday the Dow Jones and the S&P 500, along with Nasdaq ended the day down. The way we order fast food restaurants may be changing due to the improvements of Panera (PNRA). The fast-food sandwich restaurant plans to introduce high-tech ordering to its stores by way of in-store kiosks. The CEO
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Elizabeth Arden (RDEN) Falls on Much Weaker Than Expected Results

May 14th, 2014

Shares of Miramar, Florida, based Elizabeth Arden, Inc. (RDEN) fell sharply on Tuesday in response to the announcement of the company’s earnings for the third fiscal quarter ended March 31. Elizabeth Arden fell 22.82%, down $8.13, to close at $27.50 on volume of 4,008,958 shares. The company reported a net loss for the quarter that
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Coke Increases Stake in Keurig; Another Record Day for Dow and S&P 500

May 13th, 2014

The Dow Jones and S&P 500 climbed even higher today to end with yet another record close for the second day straight. Nasdaq didn’t fare as well as it ended the day down 0.1%. The Department of Transportation released today that almost 65,000 domestic flights were cancelled this year due to the winter weather. These
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AT&T to Acquire DirecTV (DTV) in $50B Deal

May 13th, 2014

Shares of DirecTV (DTV) were trading up +4.28 or +4.91 percent to $91.44 per share in pre-market trading on Tuesday, after sources revealed yesterday that the two companies were working towards a formal announcement. The takeover is said to be for a minimum of $50 billion and would make AT&T (T) the nationâ s largest
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Dow Jones, S&P 500 Close at Record Highs

May 12th, 2014

The Dow Jones and S&P 500 closed at record highs today, with Nasdaq also ending the day in the green. This surge is partially due to investors purchasing some stocks that have been slumping recently. Pinnacle Foods (PF) stock rose over 13% today after it was announced that Hillshire Brands (HSH) will be purchasing the
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Aceto Corp. (ACET) Stock Off 17% on Third Quarter Earnings

May 12th, 2014

Shares of Aceto Corp. (ACET) closed down -3.95 or -17.17 percent to $19.06 per share in active trading on Friday, after the company announced third quarter earnings which failed to meet analyst expectations. The stock was down significantly on Friday after the company reported its profit had dropped almost thirty percent for the quarter compared
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Dow Jones Closes at Record High; Companies Continue to Release Q1 Earnings Reports

May 9th, 2014

Weekly Wrap Up Stocks continued to end mixed all week. The Dow Jones had a roller coaster of week, dropping nearly 130 points on Tuesday, then recovering the majority of that loss on Wednesday and ending the week at a new all-time high on Friday. Companies continued to release their Q1 earning reports this week
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USPS Posts a $1.9B Loss in Q1; Apple Reportedly to Acquire Beats

May 9th, 2014

Stocks ended the day up as Nasdaq snapped a three-day losing streak and the Dow Jones ended the day at a new all-time high. USPS posted a first quarter loss of nearly $1.9 billion, making it the 20th time in the last 22 quarters that USPS posted a loss. After raising the monthly subscription price
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Omnicom (OMC) and Publicis Terminate $35B Merger

May 9th, 2014

Shares of Omnicom Group Inc. (OMC) were off -1.80 or -2.72 percent in afterhours trading to $64.40 per share on Thursday, after the company announced it was terminating its merger with French advertising giant, Publicis Groupe SA. Omnicom stock closed at $66.20 per share, up +0.42 or +0.64 percent in its regular trading session on
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