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Showing posts with label nasdaq. Show all posts
Verizon & Vodafone End Venture; Beef over Fast Food
Verizon (VZ) and Vodafone (VOD) are in talks to end their partnership in Verizon Wireless. Word is Verizon would pay Vodafone well over $100-billion for its stake in the joint venture. Breaking news: The Commerce Department's latest estimate of GDP has exceeded expectations. The first estimate came in at 1.7%. Fast food workers are taking a beef to the picket lines. The workers are pushing to get chains like McDonald's (MCD), Wendy's (WEN) and Taco Bell (YUM) to raise their wages to $15 an hour, which is double the national minimum wage. STOCKS TO WATCH
Campbell's (CPB) reported earnings this morning. The maker of soup and more posted earnings of 45-cents a share, up 4-cents from a year ago and 3-cents better than estimates. The company has been working to strengthen its core business while also expanding into higher-growth spaces. Guess (GES) has been up more than 18% since yesterday's closing bell. The company shattered estimates with its earnings report, posting profits of 52-cents a share, when analysts were looking for 36-cents. The climb we're seeing on this report, just about mirrors an 18% drop in Guess stock over the past month. The smaller competitor of Whole Foods says same store sales rose 3.4% in the quarter, and revenue rose 13% from a year earlier. Prior to this morning Fresh Market shares were up 13% year-to-date. Krispy Kreme (KKD) reports after the closing bell. Krispy Kreme is expected to post healthy gains over last year: earnings of 16-cents a share, up from 12-cents on revenue that's risen to $111-million.
On Fina Fresh Market
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S&P 500 Tops 1,700 for First Time Ever
In the meantime, with the risk of the Fed tapering its bond purchases put off, investors have at least a seven-week window of opportunity until the central bank's next meeting on September 17th and 18th.
"I don't think it's going to be the last time we say 'all time high' this year," says Jeff Kleintop, chief market strategist at LPL Financial in the attached video. Officially, the big change in the Fed's economic assessment was that it now says growth in the first half of the year was "modest", where previously it had said it was "moderate."
First, because it will be a quarterly meeting, there will be updated FOMC economic projections as well as a press conference. For now, the rally that started June 24th in the aftermath of the last Fed meeting is showing no signs of collapsing, and is quickly closing in on the 10% mark.
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