August 14, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News



August 14, 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

Monday began with news that in July, China’s exports fell 8.3% from a year earlier, surprising analysts with the steepness of the slowdown. However, the Shanghai stock exchange ended up posting a 5% rally, on optimism that the government would increase stimulus measures. That optimism spread to the U.S. as well with the Dow Industrials closing up 241 points. Almost all S&P 500 companies have released quarterly results with 74% beating profit estimates and about half beating sales projections.

On Tuesday, China surprised the rest of the world by devaluing the yuan by 1.9%, its largest one-day move in more than two decades. Chinese regulators said this was a one-time action, however, analysts expressed concerns that this move reflected China’s increasing difficulty dealing with its economic slowdown. The Dow Industrials closed down 212 points, with companies that derive a lot of business from China especially hard hit.

Before Wednesday’s opening, the yuan had fallen another 1.6%, and markets again opened sharply lower. However, by the end of the day, they recovered to about where they started, as some analysts helped calm markets by issuing statements that China’s new approach makes sense and that the yuan shouldn’t be tracking the dollar, especially since the Fed is close to raising interest rates.

On Thursday, retail sales for July were up .6%, compared to a .3% decrease in the prior month. Oil was down sharply as U.S. crude traded below $42 for the first time since 2009.

On Friday the producer price index for July was up .2%, and production was up .6%, both numbers were higher than expected. Markets opened mixed on the news.

Now let’s take a look at some stocks:

Apple (NASDAQ:AAPL) took a beating this week as concerns continue to grow among investors regarding the popularity and sales of the iPhone and Apple Watch. In addition, economic troubles in their China market as well as the yuan devaluation caused further drops in share prices. Analysts have now forecast that iPhone sales during the upcoming fourth quarter will either be flat or negative.

Alibaba (NYSE:BABA) shares plummeted Wednesday following the release of the company’s quarterly report that missed analysts’ revenue forecasts, however, beat earnings forecasts. Alibaba reported earnings of $0.59 per share on revenue of $3.27 billion. Shares rebounded slightly on Thursday.

Tesla Motors (NASDAQ:TSLA) filed to sell 2.1 million shares of company stock worth approximately $500 million. Tesla said that the funds received from the sale will be used to further develop their supercharger network as well as further development of their battery Gigafactory.

Shake Shack’s (NYSE:SHAK) stock plummeted this week, down more than 8% on Thursday, since reporting their earnings on Monday. The fall in stock price is partly attributed to the restaurant’s secondary offering of 4 million shares priced at $60. Shares were down more than 15% during the trading week.

GoPro (NASDAQ:GPRO) shares were up almost 7% on Thursday after receiving a price target increase to $76 by Cowen. Analysts are enticed by GoPro’s expanding product line and the new upcoming software that GoPro is poised to unveil.

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