Goldman Sachs (GS) ? Shares of Goldman Sachs Group (GS: Charts, News, Offers) jumped one percent yesterday on the news that Goldman Sachs might separate out its proprietary trading or “prop desk” as early as this month. The news was treated as a positive sign from the financial giant after a disappointing second quarter. Daily
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Market Commentary
Is Goldman Sachs going to spin off proprietary trading early? (GS)
August 5th, 2010Stocks Climb on Job Growth and Service Sector (AOL, SKYW, BKS)
August 4th, 2010Stocks gained when ADP reports that private sector saw an increase in hiring activity last month, as the U.S. Private Payrolls rise 42,000 in July. The momentum was supported by the Institute for Supply Management’s service sector index unexpected rise to 54.3 from 53.8 in July. Overall, the Dow rose +44.05 points to 10,680.43, the
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Will British Petroleum survive? (BP)
August 4th, 2010BP (BP) ? Finally, after more than one hundred days of leaking oil, there are signs that the Deepwater Horizon at the Macondo well oil spill saga is drawing to a close – at least the actual oil spill portion. Now it is time for the lawsuits, countersuits, publicity battles and government bureaucratic nonsense to
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Indices Slip on Economic News; Possible Auto Industry Recovery?
August 3rd, 2010Although the market got the month off to a strong start yesterday, the major indices spent the entire trading session in the negative. The Dow Jones was down more than 70 points early in the morning, but bounced back slightly to close at 10,636 for a loss of 38 points. The Nasdaq dropped 11 points,
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Molson Coors Expands to Grow Volume (TAP)
August 3rd, 2010Molson Coors Brewing (TAP) Molson Coors Brewing Company (TAP: Charts, News, Offers) managed to take a drop in sales and revenue and still post a 28 percent increase in revenue during the 2010 second quarter. Revenue dropped a little under one percent to $2.13 billion and sales to retailers fell 2.4% which was better than
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Stocks Climb on Strong Economic News and Oil Surges (HBC, XOM, CVX)
August 2nd, 2010August has a terrific start with all the major stock indices up strongly close to the 2% or better mark, the NASDAQ was the only laggard at +1.80% gain. The stock market started with a strong positive momentum after upbeat economic and earnings reports from around the world. China’s manufacturing activity expanded but at the
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Visa Tops Earnings Expectations, Affirms Guidance; but Fear Over Regulation Lingers (V)
August 2nd, 2010Visa (V) In March 2008, credit card giant Visa (V: Charts, News, Offers) went public with much fanfare with their IPO planted in the middle of the unfolding global financial crisis. With a lucrative IPO priced at $44, investors hoped for a repeat of Mastercard’s (MA: Charts, News, Offers) success (a 446% gain since it’s
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Is this Soda Still Fizzing or Has it Gone Flat? (DPS)
July 30th, 2010Dr Pepper Snapple Group (DPS) ? Dr. Pepper Snapple Group Inc. (DPS: Charts, News, Offers), the soft drink company whose brands include 7-Up, Snapple, Sunkist, A&W, Mott’s, Welch’s, Schweppes, Canada Dry and many others reported earnings on Thursday, which initially seemed positive beating the Street consensus of 69 cents EPS at 74 cents. It reported
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Wall Street Closes Flat, but July is Still the Best Month in a Year
July 30th, 2010The major indices stayed virtually flat in a mild ending to July, which nonetheless ended up being the best performing month in a year. The Dow Jones and Nasdaq both gained over 7% this month, and the S&P 500 rose over 6.6%. Today, the Dow slipped 1 point and the Nasdaq gained 3. Consumers and
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Wall Street Holds Its Breath for Tomorrow
August 5th, 2010The markets took a hit today as trading was dragged down by a disappointing jobless claims report. The Dow Jones and Nasdaq dropped 5.45 points and 10.51 points respectively. The S&P followed a similar fate with a 1.43 point loss. Investors seemed apprehensive to make any major moves, and were unable to shake the morning’s
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