May 13, 2016 Financial News – Business News – Stock Exchange – Market News

May 13, 2016 Financial News – Business News – Stock Exchange – Market News

3 weeks ago 1

May 13, 2016 Financial News – Business News – Stock Exchange – NYSE – Market News


Business News – Financial News – Stock News — New York Stock Exchange — Market News 2016

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2016

Monday markets were mixed, with below average trading volume, as investors digested disappointing earnings, a bad wildfire affecting oil production in Canada, and a report from China stating that imports declined 10.9% and exports declined 1.8% from the same period last year.

On Tuesday, the JOLTS job report for March showed job openings increased 2.7% to 5.8 million. Markets rallied strongly, on higher oil prices and a stronger dollar. The Dow Industrials closed up 222 points and the NASDAQ composite was up 59 points.

On Wednesday, the EIA petroleum status report for the week ending May 6th showed crude oil inventories decreasing by 3.4 million barrels. This was the first decrease in six weeks and West Texas Intermediate crude futures increased by 3.5% to .23 a barrel, a six month high. Disappointing earnings from Disney and Macy’s sent markets spiraling down on fears of weak consumer spending, and the Dow Industrials closed off 217 points.

On Thursday, jobless claims for the week ending May 7th were unexpected high, gaining 20,000 to 294,000. This was on top of the 17,000 rise the prior week. Markets were mixed, although fears of slowing sales for Apple pulled down the company’s stock price as well as the NASDAQ composite.

On Friday retail sales for April jumped 1.3% month over month, greater than expected, and the producer price index for April rose .2%. Markets opened slightly lower on the news.

Now let’s take a look at some stocks.

Amazon (NASDAQ: AMZN) announced it has created a new video service, which is intended to become YouTube’s competitor. Users can upload their video and potentially make it prime content, or allow other users to buy and rent it. The new service is called Amazon Video Direct. Shares of Amazon reached all-time highs after the announcement.

Macy’s (NYSE: M) reported its quarterly earnings and they were disappointing, with sales of the giant retailer falling more than 7% year over year and missing forecasts. Macy’s has also lowered sales and earnings guidance for the year. Shares of the company fell more than 15% the day after the report.

Shares of Electronic Arts (NASDAQ: EA) were up 13% after the video game developer and publisher released earnings showing that its new Star Wars game and its popular sports video game franchises pushed revenue and profits up to surpass analysts’ expectations. Electronic Arts laid out guidance for next year, with expected revenue growth of 7%, reaching .9 billion.

The popular fast food restaurant, Jack (NASDAQ: JACK) in the Box reported second quarter earnings of

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.85 per share, beating analysts’ expectations by .15. Revenue and same-store sales of Jack in the Box were basically flat, however, increasing revenue at its Qdoba restaurant chain helped profit margins. Shares jumped more than 15% on the news.

Disney (NYSE: DIS) shares fell more than 4% after an earnings report that didn’t meet analyst’s expectations. The popular media and entertainment company reported a rise in earnings of 2% as the performance of its movie division and of its resorts helped offset its struggling television businesses. Net earnings were .36 per share, below analysts’ estimates of .40.

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