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TradeTheTrend uploaded a new video
(1 week ago)
The major U.S. equity indices closed mixed Friday as investors earlier today paused ahead of a long weekend that could potentially feature market-m...
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The major U.S. equity indices closed mixed Friday as investors earlier today paused ahead of a long weekend that could potentially feature market-moving news from Europe. While Bloomberg Businessweek reported that GM (NYSE:GM) says there will extra costs cuts for its distressed unit in Europe after the last turnaround plan did not stop losses there.
In corporate news, Heinz (NYSE:HNZ) reported fiscal third quarter earnings of $0.95, besting consensus estimates of $0.85 and last year's $0.84, as revenues shot up 40% from a year ago to $2.92 billion, well above estimates of $2.62 billion. The firm also narrowed full-year fiscal 2012 guidance to $3.32-$3.34, from $3.29-$3.39 prior and estimates of $3.32.
Campbell Soup (NYSE:CPB) reported Q2 EPS of $0.64, topping estimates of $0.62. Revenues in the quarter came in at $2.11 billion, slightly short of consensus estimates of $2.12 billion.
The Dow Jones Industrial Average (DJI) closed 0.35% higher at 12949.64, the S&P500 (S&P 500 INDEX,RTH) closed 0.23% higher at 1,361.11, and the Nasdaq Composite (IXIC) closed 0.27% lower at 2,951.78
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TradeTheTrend uploaded a new video
(1 week ago)
The major U.S. equity indices closed mixed Tuesday after being in the red for most of the day. The losses came early after a disappointing increas...
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The major U.S. equity indices closed mixed Tuesday after being in the red for most of the day. The losses came early after a disappointing increase in retail sales which caused investors to worry about U.S. economic growth.
The Commerce Department reported Tuesday retail sales rose a seasonally adjusted 0.4 percent in the month of January, a slight improvement from a disappointing December. However, economists polled by Reuters had forecast sales climbing 0.7 percent last month. The slight increase does suggest consumers are becoming more confident about the economy. But, it could also mean that many are relying on credit as wages have not kept up with inflation.
In corporate news, talks between Yahoo (NASDAQ:YHOO) and China's Alibaba are on the rocks. The companies were planning to strike up a $17 billion tax-free asset swap, an attempt by Yahoo to turn its business around to appease shareholders. Currently, the plan will not move forward but some sources say Yahoo and its Asian partners could still strike up another, taxable deal.
And Apple (NASDAQ:AAPL) is working with component suppliers in Asia in order to test a new tablet computer with a smaller screen, according to a Wall Street Journal report. Unnamed officials at some Apple suppliers say the company has shown them designs for a new device with a screen size of about 8 inches, and say it is qualifying suppliers for it.
The Dow Jones Industrial Average (DJI) closed 0.03% higher at 12,878.28, the S&P500 (S&P 500 INDEX,RTH) closed 0.09% lower at 1,350.50, and the Nasdaq Composite (IXIC) closed 0.02% higher at 2,931.83.
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TradeTheTrend uploaded a new video
(1 week ago)
The major U.S. equity indices closed higher Monday on news Greece has approved austerity measures and President Obama has released a new budget pro...
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The major U.S. equity indices closed higher Monday on news Greece has approved austerity measures and President Obama has released a new budget proposal.
Greek parliament passed new austerity measures today that will hopefully give the country funds to avoid default. The vote was 199 to 74 just past midnight on Monday amid protests. The euro rallied immediately after the vote but failed to sustain a push above the $1.33 level. Greece is now in its fifth year of recession.
And President Obama revealed his budget for 2013, planning to borrow $1.3 trillion and raising up to $1.5 trillion in new taxes over the next decade. The budget proposal will raise the money from allowing tax cuts for wealthier Americans to expire and also imposing a 30 percent tax rate on millionaires. In spending, the president is calling for $350 billion on jobs programs, $476 billion in infrastructure projects and $2.2 billion in manufacturing research and development.
Finally, in corporate news shares of Apple surpassed the $500 mark in trading today, hitting an all time record. The tech giant has risen 19% since reporting its earnings results for the December quarter on January 24th. Even after hitting this milestone, however, the stock is still 85% below price targets set by brokers.
The Dow Jones Industrial Average (DJI) closed 0.57% higher at 12,874.04, the S&P500 (S&P 500 INDEX,RTH) closed 0.68% higher at 1,351.77 and the Nasdaq Composite (IXIC) closed 0.95% higher at 2,931.39.
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TradeTheTrend uploaded a new video
(2 weeks ago)
The major U.S. equity indices closed higher Thursday on positive economic news and a huge settlement deal with big banks.
U.S. States have finally r...
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The major U.S. equity indices closed higher Thursday on positive economic news and a huge settlement deal with big banks.
U.S. States have finally reached a deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred back in 2008. The $25 billion settlement would reduce loans for nearly 1 million households and would send checks of $2,000 to about a quarter of a million Americans who were improperly foreclosed upon. The five major banks involved in the settlement include Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and Ally Financial (NYSE:ALLY).
The number of Americans filing first-time jobless claims dropped by 15,000 last week - to 358,000 from 373,000 the week prior - and are at an all-time low since March of 2008. The news has given many cause to express optimism over an improving labor market, especially when compiled with January's unemployment rate dipping to 8.3 percent
And in corporate news, Drink maker Pepsico (NYSE:PEP) reported its fourth quarter earnings today that beat estimates as well as announcing it will cut 8,700 jobs, or 3% of its entire workforce. The company also said it plans to pour $500 million to $600 million into brands this year and will have higher dividends and share repurchases in 2012.
The Dow Jones Industrial Average (DJI) closed 0.05% higher at 12,890.46, the S&P500 (S&P 500 INDEX,RTH) closed 0.15% higher at 1,351.95, and the Nasdaq Composite (IXIC) closed 0.39% higher at 2,927.23.
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TradeTheTrend uploaded a new video
(3 weeks ago)
Today is Thursday February 2nd, 2012 and this is your market close wrap up.
U.S. equity indices closed mixed Thursday as 367,000 jobless claims were...
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Today is Thursday February 2nd, 2012 and this is your market close wrap up.
U.S. equity indices closed mixed Thursday as 367,000 jobless claims were reported, versus the expected 317,000. There were 3.4 million continuing claims, versus the expected 3.53 million.
In corporate news, shares Green Mountain Coffee rose Thursday morning after the company announced quarterly earnings on Wednesday. Green Mountain ended the day up almost 24% to finish at $66.42
Merck reported fourth quarter earnings this morning, posting an EPS of $0.97, better than analyst estimates of $0.95 per share. But revenue came in short of estimates, driving down healthcare stocks.
And Pulte Group reported positive earnings today with an EPS of $0.11, on revenue of $1.26 billion. That's better than estimates of $0.07 on revenue of $1.14 billion.
Now taking a look at where the markets closed today.
The Dow Jones Industrial Average closed 0.09% lower at 12,705, the S&P500 closed 0.11% higher at 1,325, and the Nasdaq Composite closed 0.40% higher at 2,859.
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Watch BASF product damaged 2 strawberry plantations containing 400.000 plants..
BASF is selling poison in world....