Finance news you need to know today
HERE are eight things making news in business and finance today. 1. SYDNEY -- A surge in oil prices has buoyed he Australian dollar ahead of the UK's Brexit referendum vote this week. At 0700 AEST on Monday, the local unit was trading at 74.34 US cents … Continue reading at news.com.au
Today's Top Supply Chain and Logistics News From WSJ
A Beijing patent ruling against Apple Inc. AAPL-2.28 % may send a shudder through Western companies doing business in China … booming auto production center around San Luis Potosi. (USA Today) The World Bank will put $ 360 million toward an overhaul … Continue reading at wsj.com
Small Business Today: Not so free shipping
Small Business Today is a bi-weekly feature written by Tom Friedman, market president of First National Bank, Ankeny. You can view past columns at www.fnbames.com, under the “Business” button at the top of the screen then look under “FNB Extras”. Continue reading at desmoinesregister.com
Why the Austal Limited share price surged today
climbed 2 cents or 1.7% to $ 1.22 today after the company announced it has won two new civil shipbuilding contracts worth $ 30 million. One contract worth $ 16 million is to build a commercial passenger ferry for a South Korean transport business, while the … Continue reading at finance.ninemsn.com.au
Visa opens Costco today
Your American Express card won't work at the warehouse stores or Costco gas pumps today. This is the first day that the … Follow our blog for all the latest in local business news. To get the top local business news, subscribe to Daily Biz Briefs … Continue reading at businessexaminer.com
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New Hampshire’s Business News for June 20
VALLEY NEWS As Bike Week ends, questions swirl around music festival … trade fair Hannover Messe was impeccable for Manchester-based Jewell Instruments. - NH BUSINESS REVIEW New UNH manufacturing center to give students hands-on experience The advanced … Continue reading at nhbr.com
Comcast Business Brings Full Network and Communications Services Suite to North Creek Business Park Clientele
Comcast Business today announced a million-dollar expansion of its network … Business's comprehensive portfolio of advanced communications services. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com … Continue reading at finance.yahoo.com
Partnering with Today’s Power Inc., Simpson added … events and honors from independent organizations by sending information to Times Record Business News, P.O. Box 1359, Fort Smith, AR 72902, or emailing firstname.lastname@example.org. Continue reading at swtimes.com
General Motors Makes The Most American Cars on Sale Today
Every year, the Kogod School of Business at American University comes up with the Made in America Auto Index, a lengthy list of the most and least American-made vehicles. This year, no less than 20 nameplates built by General Motors made the coveted top 10. Continue reading at autoevolution.com
Today's Trump Apocalypse Watch: A Day Off From Being Offensive
Donald Trump didn’t register that much in the news today, a rare event. One reason for that is that … is a pretty perfect symbol of his tendency to let personal vendettas get in the way of the business of campaigning. The Trump Apocalypse Watch danger … Continue reading at slate.com
* January 29, 2016 Financial News – Business News – Stock Exchange – NYSE – Market News
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Markets were down sharply on Monday with the Dow Industrials off 208 points. Energy producers were hit hardest as West Texas Intermediate crude futures lost 5.8% to .34 a barrel.
On Tuesday, consumer confidence for January was up 1.8 points to 98.1, and the Case-Shiller home price index for November was up .9% month-over-month. West Texas Intermediate jumped 3.7%, and markets rallied, with the Dow Industrials closing up 282 points.
On Wednesday, new home sales for December were up 10.8% to an annualized 544,000 units, higher than analysts' expectations. The Federal Reserve finished its meeting and, as expected, did not raise interest rates. However, it issued a statement saying it was closely monitoring global economic and financial developments. This caused markets jitters as investors speculated that global economic and financial developments had the potential to drag down the U.S. economy. The Dow Industrials closed down 222 points.
On Thursday, durable goods orders for December were down 5.1%, and jobless claims for the week ending January 23rd fell 16,000 to 278,000.
On Friday, GDP for the fourth quarter came in at a slow .7%, in line with expectations, and the employment cost index for the fourth quarter showed an increase of .6% quarter-over-quarter. The Chicago PMI for January came in at 55.6, its highest reading in a year, and the Bank of Japan announced they would adopt a negative interest rate. Markets opened sharply higher on the news.
Now let's take a look at some stocks.
Apple (NASDAQ: AAPL) shares were down more than 6% Tuesday after releasing an earnings projection stating that revenue in the first three months of 2016 will be billion to billion. This marks Apple's first quarterly drop in sales expectations since 2003 and is below analysts' estimates for .5 billion.
Facebook (NASDAQ: FB) shares surged more than 14% in early trading Thursday after the company released fourth quarter earnings, easily surpassing Wall Street's most optimistic estimates for both revenue and earnings. The social media giant reported earnings of 79 cents per share on .8 billion in revenue, while earnings estimates from analysts were only as high as 75 cents per share on revenue of .7 billion.
Under Armour (NYSE: UA) shares jumped more than 17%, after reporting fourth quarter earnings. The report eased investors' concerns that the company is facing a slowdown in growth, as Under Armour revealed very good sales of footwear branded with Stephen Curry, the NBA's new most valuable player.
Amazon (NASDAQ: AMZN) shares dove more than 13% during after-hours trading, when the company released very disappointing earnings. Amazon reported earnings of per share while analysts expected .56 per share. Amazon seemed to imply last year that strong Prime membership increases in December would lead to strong fourth quarter results.
Microsoft (NASDAQ: MSFT) shares jumped about 5% Thursday after the market close, as earnings for its fiscal year second-quarter easily surpassed expectations. The high-tech giant reported adjusted earnings of 78 cents per share on .7 billion in revenue. Analysts had expected the company to report earnings of 71 cents per share on .3 billion in revenue.
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