June 19, 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, industrial production for May was down .2%, lower than expected and it follows April’s .3% decline, and the Empire State manufacturing survey slid to its weakest level in more than two years, coming in at -1.98 for June. Better news was the housing market index for June, showing sales of new homes increasing 9% to 59, and above economists’ expectations. Talks between Greece and its creditors fell apart over the weekend and this weighed negatively on markets. Stocks closed the day moderately lower.
On Tuesday, housing starts for May dropped 11.1%, however, this was after an extremely strong April report. In addition, building permits increased 11.8%, pointing to continued strength.
On Wednesday, the Federal Reserve finished its meeting and decided not to raise interest rates. In addition, they downgraded their economic forecasts for the remainder of the year, with unemployment going up slightly and the GDP lower than initially projected. Markets closed slightly higher on the news.
On Thursday, the consumer price index for May was up .4%, mostly due to more expensive gasoline. Jobless claims for the week ending June 13th were 267,000, down 12,000. Markets soared on a delayed reaction to the Fed’s loose monetary policy and the NASDAQ closed at a record high.
On Friday, Greece’s 1.5 billion euro debt payment due on June 30th was weighting on investors, and markets opened slightly lower. Now let’s take a look at some stocks.
Now let’s take a look at some stocks.
BlackBerry Ltd(NASDAQ:BBRY) made news at the start of the week after rumors surfaced that the company will be implementing Google’s Android OS into a new smartphone that the company is developing. Currently, investors are on both sides of the fence on whether or not it will help BlackBerry.
Gap Inc. (NYSE:GPS) announced plans to close 175 stores over the next few years. The closures are expected to equate to annual sales losses of almost $300 million, but is expected to be offset by cost savings and Gap’s new digital market which includes improvements to their online and mobile businesses.
Fitbit Inc(NYSE:FIT) shares soared Thursday on their first day of trading on the New York Stock Exchange; increasing more than 49% over their IPO price, ending their first day at almost $30. Fitbit is a manufacturer of a wearable exercise-monitoring device and has been deemed the best tech IPO this year, after raising almost $750 million.
Walt Disney Co(NYSE:DIS) shares were up Thursday after the company released a summary of recent earnings from their broadcast of the NBA finals. It is estimated that the company will earn almost $224 million for the six basketball games during the finals. Kythera Biopharmaceuticals, Inc. shares spiked up on Wednesday, from $60 to $74, after it was announced that Allergan will be acquiring the company for approximately $2.1 billion. The acquisition is meant to further expand Allergan’s cosmetic facial pipeline.
Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2015
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