April 17, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News
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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2015
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015
On Monday, no economic numbers were released, so markets trended downward as everyone waited for the beginning of earnings season.
On Tuesday, the producer price index for March rose .2% month to month, up from -.5%, and in line with expectations. Retail sales for March rose .9%, up from -.5%, and slightly below expectations. Markets were mixed, however, energy stocks rallied as crude oil rose nearly 3% to a little over a barrel after forecasters predicted a decline in U.S. shale production.
On Wednesday, industrial production for March declined .6%, compared to a .1% increase in February. In addition, the Empire State manufacturing survey for April showed a contraction reading of -1.19, only the second negative reading in the last 23 months. Crude oil continued rising, closing at over a barrel, and this prompted a rally, with the Nasdaq closing above 5,000.
On Thursday, housing starts for March were up 2%, disappointing analysts, and jobless claims for the week ending April 11th were up 12,000 to 294,000, higher than expected.
On Friday, the consumer price index for March was up .2%, mostly due to higher energy costs. However, news of Greece having debt paying issues, and China’s regulators implementing stricter margin regulations, cause a steep drop in markets.
Now let’s take a look at some stocks.
Mylan (NASDAQ: MYL) shares slumped while shares of Perrigo gained early this week following the news that Mylan, a pharmaceutical company specializing in generic drugs, made a .9 billion offer to acquire rival Perrigo.
JPMorgan Chase & Co. (NYSE: JPM) shares spiked Tuesday to almost , following the release of their first quarter earnings showing a 12% increase in profit. JPMorgan’s net income increased to .91 billion on earnings of .45 per share, ahead of forecasts of .41 per share. The company reported increases in profits across all business units;
investment banking up 12%, trading for fixed income, currencies and commodities up 5%, consumer banking up 12% and commercial banking up 1%.
Nokia Corporation (NYSE: NOK) and Alcatel-Lucent Alcatel-Lucent (NYSE: ALU) stocks tumbled on Wednesday, after Nokia announced that they will be acquiring the French technology company in an all-stock deal that values Alcatel-Lucent at .6 billion. The combined company will have more than 114,000 employees and will be the second largest company in the mobile equipment industry.
Citigroup Inc. (NYSE: C) shares made headlines on Thursday, gaining more than 1.5%, after releasing a first quarter earnings report showing the largest earnings the bank has seen in nearly eight years. Operating expenses decreased more than 10% while various business units’ revenue increased. Citigroup’s revenue for the first quarter came in at .7 billion or .51 per share while analysts forecasted earnings of only .39 per share.
Netflix, Inc. (NASDAQ: NFLX) stock increased over 18% Thursday, and reached a new 52-week high, after the video streaming company released their first quarter financials, revealing major growth in their subscriber base. They had 4.9 million new subscribers, nearly a million more than what analysts expected. Netflix also reported an increase in revenue of 31%, year-over-year, to .4 billion.
April 17, 2015 Weekly Stock Market Wrap-up:
Mylan (NASDAQ: MYL)
JPMorgan Chase & Co. (NYSE: JPM)
Nokia Corporation (NYSE: NOK)
Alcatel-Lucent (NYSE: ALU)
Citigroup Inc. (NYSE: C)
Netflix, Inc. (NASDAQ: NFLX)
Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
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