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Market Commentary

General Electric (GE) to Acquire Cameron Reciprocating Compression Unit

January 20th, 2014

Shares of the General Electric Company (GE) closed down -0.62 or -2.28 percent on Friday on almost triple its daily volume. U.S. markets were closed on Monday morning in observance of Martin Luther King’s Birthday, however, GE announced this morning it would be buying Cameron International Corp.’s CAM reciprocating compression unit for $550 million. The
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Factory Output Continues to Rise; GE Profits Increase by 5% in 4Q

January 17th, 2014

U.S. Factory output continues to rise – in December it rose for the fifth straight month. Factory output is now 22% above its recession low. UPS (UPS) is expecting its 4Q profit to be lower than expected due to all the delayed deliveries of holiday packages. UPS cites that they were hit hard due to
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S&P 500′s Record High is the Bright Spot of the Week

January 17th, 2014

Weekly Wrap Up After having mixed results since the beginning of the year the stocks had a bright spot this week – on Wednesday the S&P 500 ended the day with a record high. Many companies reported this week that their 4Q earnings were not as high as they were expecting. Many retailers are falling
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Intel (INTC) Stock Falls on Earnings, Lower Guidance

January 17th, 2014

Shares of Intel Corp. (INTC) were trading down -1.10 or -4.14 percent to $25.45 per share in pre-market trading on Friday after the company announced fourth quarter earnings, which came out on average in line with expectations. The company also revised its guidance for the year’s first quarter slightly below analyst expectations. Intel stock closed
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Best Buy’s Shares Fall 27%; Yahoo is Looking for a New COO

January 16th, 2014

Stocks end the day mixed after investors received mixed results from the holiday shopping season. After Best Buy (BBY) said that sales number didn’t reach expectations during the holiday season their shares fell more that 27% to $27.17 during afternoon trading. T-Mobile (TMUS) is offering to pay up to $650 in cancellation fees if you
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PNC Financial Services Group (PNC) Reports Record Net Income for 2013

January 16th, 2014

Shares of PNC Financial Services Group Inc. (PNC) closed with a gain of +0.84 or +1.08 percent to $78.84 per share on Wednesday, ahead of reporting earnings this morning which beat analyst estimates by $0.22 per share. The company reported early this morning full year 2013 net income of $4.2 billion, or $7.39 per diluted
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S&P 500 Closes at Record High as the Economy is Being Led by Housing & Auto Industries

January 15th, 2014

After a rough couple of weeks of 2014 the three main indices end the week up, with the S&P 500 jumping to a record high. The expansion of the economy is being led by the auto and housing industries as stated in the Fed’s Beige Book. Apple (AAPL) and the Federal Trade Commission came to
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Tesla Motors Inc. (TSLA) Surges on Higher than Expected Sales, Stock Upgrade

January 15th, 2014

Shares of Palo Alto, California, based Tesla Motors  (TSLA) surged 15.74% on Tuesday, rising $21.93 to $161.27 per share on volume of nearly 26 million shares. The company disclosed that had sold 20% more cars than expected in the fourth quarter of 2013. The company’s stock was also upgraded by R.W. Baird on higher production
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Target’s Breach a Wake-Up Call; TWC Rejects Charter Communication’s Bid

January 14th, 2014

Stocks end up today, being led by the technology sector. While Target’s (TGT) breach impacted millions of American’s, JP Morgan’s (JPM) CEO hopes it serves as a wake-up call to many retailers and banks. He thinks that cyber crimes will become more common if retailers and banks don’t work with one another to improve security.
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Beam Inc. (BEAM) to be Acquired by Suntory for $16 Billion

January 14th, 2014

Shares of Beam Inc. (BEAM) closed up +16.45 or +24.56 percent to $83.42 per share on Monday, after news that Japanese spirits and beverage company Suntory was acquiring the whiskey distiller in a deal worth roughly $16 billion. Suntory is paying $13.6 billion in cash and assuming Beam Inc.’s net debt. With the acquisition, Suntory
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Dow Jones Drops 170 Points; Companies Fail to Meet 4Q Projections

January 13th, 2014

Stocks end down today, with the Dow Jones ending the day dropping more than 170 points. The stocks stumbled after investors ponder the effects of the jobs report released on Friday and as many companies concerns are growing about failing to meet their fourth quarter projections. SodaStream (SODA) shares fell a whopping 24% today after failing
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PharMerica (PMC) Buys BGS Pharmacy Partners, Forecasts Solid 2014

January 13th, 2014

Shares of PharMerica Corporation (PMC) closed at a new all-time high, up +5.52 or +27.07 percent on Friday, after the company announced it had completed its acquisition of all of the outstanding stock of BGS Pharmacy Partners in an all-cash deal on December 31st, 2013. Financial terms of the acquisition were not released; however, PharMerica
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Disappointing December Jobs Report; Target’s Security Breach Worsens

January 10th, 2014

Stocks end mixed as the jobs report for December did not reveal the numbers that many were expecting. Economists were predicting that approximately 205,000 additional people would become employed in December, but in reality only an additional 74,000 became employed last month. Target’s (TGT) security breach continues to get worse. It was originally reported that
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Fischer Selected as Vice Chairman of the Fed; CGI Fired as Contractor of Healtcare.gov

January 10th, 2014

Weekly Wrap Up Stocks continued to struggle throughout the week. The week ended with the Dow Jones ending down due to a disappointing December jobs report. President Obama has selected Stanley Fischer as the new vice chairman of the Federal Reserve. Fischer will be replacing Janet Yellen as she is set to become the next
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Intercept Pharmaceuticals (ICPT) Stock Quadruples

January 10th, 2014

Shares of Intercept Pharmaceuticals Inc. (ICPT) were trading up +88.13 or +31.58 percent to $363.00 per share in pre-market trading on Friday. The stock closed up +203.48 or +281.09 percent to $275.87 per share in Thursday’s regular trading session, after news that trials for the company’s new drug for non-alcoholic steatohepatitis (NASH) had been stopped
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Americans Confused as Tax Season Approaches; Ford Increases Dividend

January 9th, 2014

Stocks continue to struggle in the new year as the Dow Jones and Nasdaq end the day down. Certain advocates believe that U.S. taxpayers should get a “bill of rights” from the IRS explaining what the IRS can and cannot demand from them. Many Americans are confused every tax season and this was seen last
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Macy’s (M) to Cut 2,500 Jobs, Improves 2014 Forecast

January 9th, 2014

Shares of Macy’s Inc. (M) were trading up +3.65 or +7.04 percent to $55.49 per share in pre-market trading on Thursday, after the company announced it would reduce its workforce, close several stores and increase integration of in-store and online sales. Macy’s stock closed at $51.84 per share, down -0.34 or -0.65 percent in Wednesday’s
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The Fed Releases December Minutes; 238,000 Private Sector Jobs Added in December

January 8th, 2014

The stocks end mixed today as the Dow Jones finished with a 71 point dip. Macy’s (M) announced that as part of restructuring their business in 2014 they will be laying off approximately 2,500 workers. It was revealed that private firms added around 238,000 jobs in December, further improving the economy. The Federal Reserve released
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UnitedHealth Group (UNH) up on Deutsche Bank Upgrade

January 8th, 2014

Shares of UnitedHealth Group (UNH) were up $2.27 per share, a gain of 3.06%, to $76.51 on Tuesday, on news that the stock has been upgraded from “Hold” to “Buy” by Deutsche Bank (DB). Healthcare stocks were prominent in Tuesday’s 105 point rally on the Dow Jones Industrial Average. Analysts at Deutsche Bank have indicated that
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Janet Yellen Confirmed as Next Chairman of the Fed as Stocks End Up

January 7th, 2014

The three main indices end up for the first time of the year. It was confirmed today that Janet Yellen will be the next Chairman of the Federal Reserve. Her term begins on February 1st and she will be the first woman to ever head the central bank. The U.S. Senate is close to extending
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