July 17, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News, July 17, 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, Greece reached an agreement with its creditors. Greece’s parliament, however, had to pass into law strict reform measures before Thursday. Markets were up big on the news, with the Dow Industrials closing up 217 points.
On Tuesday, retail sales for June were disappointing coming in at -.3%, compared to the previous month’s 1.2% gain. Despite this, the Dow Industrials closed the day up 75 points.
On Wednesday, the producer price index for June was up .4% month-to- month and down .7% year-to-year. Industrial production for June was up .3% and capacity utilization increased .2% to 78.4%. Fed Chair Janet Yellen testified before lawmakers and she said the economy is close to where it needs to be in order to raise rates, probably this year.
On Thursday, markets were greeted by some solid earnings reports, and also the news that the Greek parliament had passed the bailout agreement. Jobless claims for the week ending July 11th fell 15,000 to 281,000. Markets rallied on all the good news, with NASDAQ closing at a record high.
On Friday, the consumer price index for June was up .3%, in line with expectations, and housing starts for June increased by 9.8% while construction permits have increased by 7.4%. Markets were mixed on the news.
Now let’s take a look at some stocks.
Micron Technology, Inc. shares ended Tuesday up 11% after it was reported that China-based Tsinghua Unigroup is preparing a billion takeover offer for the company. Micron, in the end, decided against the deal and turned down the offer. Share prices remained relatively high even after Micron nixed the deal.
Intel Corporation shares were slightly up on Thursday after their second quarter earnings beat expectations. Intel reported net income of .7 billion or {videoDescription}.55 per share; analysts expected earnings of only {videoDescription}.50 per share. CFO Stacy Smith also stated that the company now makes 40% of their revenue and 70% of their operating profit from their data center processors, thus signaling that Intel is no longer dependent on their personal computers, which was suppressing earnings.
Amazon.com Inc. shares rallied this week in anticipation of their Amazon Prime day. On Prime Day, July 15, Amazon was able to beat their previous highest order rates which they experienced on Black Friday of last year. By noontime on July 15, Amazon’s third party same-store sales had
increased by nearly 80% relative to the previous year.
Netflix, Inc. shares soared more than 18% on Thursday following a 7 for 1 split of their stock and the release of their second quarter earnings. The report showed remarkable growth in the company’s
subscriber’s base, gaining 3.28 million subscribers, growing their total subscriber count to 65.5 million. It was noted that overseas demand was especially strong.
Tesla Motors, Inc. stock pulled ahead this week after the company’s CEO, Elon Musk, expressed that he was optimistic and confident that their SUV, the Model X, will be able to double their annual sales. Tesla also announced that they will begin selling their Model X in China during the
first half of 2016.,
