June 26, 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, existing home sales for May jumped 5.1% to 5.35 million units, year-on-year it jumped 9.2%, and prices are rising, up 7.9% year-on-year. In addition, some optimistic news about Greece’s debt situation emerged, and markets rallied, with the Dow Industrials up .58% and NASDAQ closing at a record high.
On Tuesday, durable goods orders for May was down 1.8%, weighed heavily by a plunge in aircraft orders. The flash PMI manufacturing index for June came in lower than expected at 53.4 and slightly lower than the previous month’s 53.8, and new home sales for May were up 2.2% to an annual rate of 546,000 units, and this is the highest level in more than seven years. The supply of new homes is dwindling creating a seller’s market. The major indexes closed up slightly higher, however, NASDAQ did close at another record high.
On Wednesday, the final revision of the first quarter GDP came in at -.2%., not as bad as originally reported due to consumer spending numbers that were revised upward. Talks with Greece stalled and markets were down sharply.
On Thursday, jobless claims for the week ending June 20th were 271,000, only up 3,000 and personal income for May was up .5%, while consumer spending was up a strong .9%. The flash PMI for services was down 2.8% to 54.8, and the weakness surprised economists, while negotiations with Greece remained stalled. Markets closed modestly lower.
On Friday, consumer sentiment in June climbed to 96.1, a five-month high, however, concerns over Greece's June-30th debt repayment deadline dominated the news. Markets opened mixed.
Now let’s take a look at some stocks.
Martha Stewart Living Omnimedia, Inc. (NYSE:MSO) shares spiked down at the start of the trading week after it was announced that Sequential Brands Group will be acquiring the Martha Stewart Empire for $353 million.
BlackBerry Ltd (NASDAQ:BBRY) shares plummeted this week following the release of their first quarter earnings, which missed forecasts. BlackBerry reported that revenue fell by 32% to $658 million, which equates to a loss of $0.10 per share; forecasts had BlackBerry at $685 million in revenue, losing only $0.04 per share.
Netflix, Inc. (NASDAQ:NFLX) caught some eyes this week after the online video streaming company touched a new 52-week-high of $706.24, after they announced they have received approval for a 7 for 1 split, in order to make shares affordable enough for everyday traders. After hitting the 52-week-high, activist investor, Carl Icahn, announced via Twitter that he has liquidated his entire stake in Netflix, causing the shares to plummet back to under the $700 level.
Whole Foods Market, Inc. (NASDAQ:WFM) shares fluctuated erratically on Thursday after New York City’s Department of Consumer Affairs announced that the supermarket chain is being investigated for overpricing prepackaged foods. The investigation is still ongoing and fines have not been issued yet. To be noted, Whole Foods paid $800,000 last year in order to settle a pricing irregularities investigation in the state of California.
Business News - Financial News - Stock Exchange - New York Stock Exchange -- Wall Street -- Market News 2015
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