April 10, 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, stocks rallied on reduced fears of rate hikes from the Fed after last week’s extremely disappointing jobs report. William Dudley, President of the New York Fed, expressed his concerns stating it will be important to monitor developments to determine if the labor market is slowing or if this is temporary. Any interest rate increases are likely to be slow.
The Institute for Supply Management said its services index fell to 56.5 in March down slightly from February, and in line with economists’ expectations.
On Tuesday, markets declined slightly but didn’t do much as traders awaited for Wednesday’s Fed minutes to be released.
On Wednesday, the minutes came out and showed a split by policy makers over when to raise rates, but still very dovish overall. The Dow rose slightly on the news, however, the Nasdaq Composite showed strong gains due to a biotech rally.
On Thursday, Jobless claims for the week ending April 4 were released, increasing 14,000 to 281,000 and energy had a solid rally as crude oil increased slightly.
On Friday, import prices for March were down .3% month to month and 10.5% year over year. At the open, stock rallied modestly on recent strength of the dollar.
Now let’s take a look at some stocks:
Tesla Motors Inc. (NASDAQ: TSLA) shares surged this week following a report showing that the electric vehicle manufacturer reported a record number of car deliveries during its first quarter, delivering 10,030 vehicles, beating forecasts by 530. Tesla also announced that they will be upgrading their Model S sedan by putting in a better battery, and all-wheel drive system.
UniQure N.V. (NASDAQ: QURE) shares increased by more than 55% Monday after Bristol-Myers Squibb agreed to collaborate with the Dutch biotech company, and will be buying a 4.9% stake for approximately $32 million.
Herbalife Ltd. (NYSE: HLF) shares lagged Monday following reports on Sunday that federal law enforcement agencies contacted the top 10 Herbalife sellers for information regarding their business practices. Names and the investigating agencies remain undisclosed.
FedEx Corporation (NYSE: FDX) shares shot up Tuesday after the company announced that they will be acquiring Dutch delivery firm TNT Express for $4.8 billion in order to expand their operations further into Europe. FedEx made an all-cash offer of 8 euros per share to TNT Express, a 33% premium relative to April 2nd’s closing price.
Royal Dutch Shell plc (NYSE: RDS) shares slumped on Wednesday after the petroleum giant announced that they will acquire oil and gas exploration firm BG Group in a deal worth approximately $70 billion. The acquisition will form the world’s largest independent producer of liquefied natural gas and will increase the company’s oil and gas reserves by 25%.
April 10, 2015 Weekly Stock Market Wrap-up:
Tesla Motors Inc. (NASDAQ: TSLA)
UniQure N.V. (NASDAQ: QURE)
Herbalife Ltd. (NYSE: HLF)
FedEx Corporation (NYSE: FDX)
Royal Dutch Shell plc (NYSE: RDS)
Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
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