February 12 , 2016 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 2016
Business News - Financial News - Stock Exchange -- Wall Street -- Market News - New York Stock Exchange 2016
To begin the week U.S. stocks opened sharply lower on Monday, but closed off session lows with a late rally in the energy sector. Tech stocks got crushed on Monday with the Nasdaq falling 1.8%.
On Tuesday stocks closed near the flat line after a choppy trading session. Crude oil took a nosedive, falling more than 6% at one point as WTI crude oil — the US benchmark — fell below $28 a barrel. The latest Job Openings surged in December, which came in at 5.6 million; the report shows strong numbers in both quits and hires, a combination which indicates the U.S. labor market is standing on stable ground.
On Wednesday investors digested remarks from Federal Reserve Chair Janet Yellen; Yellen’s assessment indicates Fed policymakers are aware of the potential impact recent global economic and market turbulence could have on the economy. But investors continue to remain nervous about a potential slowing down of the economy and uncertainty surrounding plans for further interest rate hikes.
On Thursday markets started the day deep in the red, the Dow was down more than 400 points at the lows of the day, but a report of a possible OPEC production cut sent stocks spiking; however, there's really nothing new with OPEC until we hear from Saudi Arabia, so it still remains to be seen whether this production cut will come to pass. Initial jobless claims fell a very steep 16,000 to 269,000. This is the lowest reading since mid-December.
On Friday U.S. retail sales rose 0.2% in January; Import prices fell 1.1%. Stocks opened higher as oil jumped 6%.
Now let’s take a look at some stocks
Walt Disney (NYSE:DIS) reported its fiscal first quarter earnings on Tuesday; the entertainment giant posted strong year-over-year revenue growth of 14%, while earnings per share jumped 28%, driven by the phenomenal success of its feature film Star Wars: The Force Awakens, which has smashed countless box office records. Despite the impressive headline numbers, however, shares of Disney fell about 4%, as concerns of ESPN’s growing costs weigh on the company.
Tesla Motors (NASDAQ:TSLA) reported a major loss in the fourth quarter that badly missed projections. But shares of the electric car maker still surged more than 8% on a rosy outlook for the 2016 fiscal year. Tesla offered reassurances that production is on track, and that a prototype for a new mass-market model will make its debut next month.
Expedia (NASDAQ:EXPE), the online travel company posted $764 million in profit last year, a 91.9% jump thanks to some major acquisitions, which diversified product lines.
Tripadvisor (NASDAQ:TRIP) stock price went up 15% on Thursday; the online travel specialist reported earnings of 45 cents per share, easily beating the previous market consensus. Direct booking and subscription sales drove a 7.3% increase in revenue. The company overcame currency and economic obstacles to produce solid growth to finish 2015.
SolarCity (NASDAQ:SCTY) stock crashed more than 30% when it reported fourth quarter earnings. While the company did top projection on both earnings and revenues, panel installations fell short of its own estimate. In addition, the company projects a wider-than-expected loss for the ongoing quarter. SolarCity is down more than 50% over the last year.
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