Friday, November 27, 2015

Wall St Unchanged; Disney, retailers are down

Wall St, business, finance, icome

The Dow Jones industrial average are down 14.9 points (0.08%), to 17,798.49, the S&P 500 gained 1.24 points, or 0.06%, to 2,090.11 and the Nasdaq Composite added 11.38 points, or 0.22%, to 5,127.53.

United States Stock indexes closed and there are minimal changes in light trading on Friday. Consumer stocks fell as investors worried about early reports on the holiday shopping season, and Disney’s subscriber losses weighed on the market.

US stock markets closed 3 hours earlier after the Thanksgiving holiday on Thursday. Most traders are in day off for the holidays.

Trading volume was a little light with 2.79 billion shares changing hands on US exchanges, compared with the 7 billion average for the previous seven sessions.

Because of the drop of Walt Disney shares it cost close to 24 points off the Dow. Walt Disney shares fell $3.54, or 3%, to $115.13 after it reported this week that subscribers at ESPN, of which it is a majority owner, fell by 3 million in the fiscal year ended October 3.

The S&P’s energy index lost 0.7%, more than any other sector, after oil producers and other energy companies fell along with the price of crude oil. Chevron lost 50 cents, or 0.6%, to end at $90.37.

U.S. crude-oil futures slipped 3.1% to settle at $41.71 a barrel.

Shares of several retailers fell as investors braced for data on the key holiday-shopping period. Wal-Mart Stores fell 35 cents, or 0.6%, to 59.89. Urban Outfitters fell 66 cents, or 2.7%, to 23.65, while Gap lost 70 cents, or 2.5%, to 27.36.

J.P. Morgan Chase rose 31 cents, or 0.5%, to 67.17, while Goldman Sachs Group gained 1.32, or 0.7%, to 190.47.

Gold fell 1.3% to $1,056.20 a troy ounce.

Friday, November 20, 2015

China Raided Underground Banking Ring Worth $64 billion

China underground bank, banking ring, Money Laundering

Chinese police has raided the country's largest underground banking ring that involves transactions totaling $64 billion. Those 100 suspects that were arrested are from 8 gangs. Chinese officials believes that the gangs were thought to be linked to a ringleader who allegedly operated multiple shell companies in Hong Kong engaged in money laundering and foreign exchange transactions.

China has strict capital controls, citizens can only move around $50,000 out of the country each year. This restrictions has resulted for gangs to launder money through art pieces or through casinos in southern China which helps citizens to transfer funds in other countries. While some of that money comes from honest earnings, a portion is believed to have been obtained via corruption or fraud.

Sunday, November 8, 2015

GoDaddy Up by 15%; Raises 2015 Revenue Forecast

GoDaddy image

GoDaddy a Web domain marketplace has gain 15%. The launch their public offering last April and in their Initial public offering (IPO) they were able to raise $460 million. Their company is valued at $5.48 billion.

Godaddy (NASDAQ:GDDY) had its price objective boosted by investment analysts at JMP Securities to $38.00 in a research note that was released last Friday on

GDDY's 50-day moving average price is $26.36 and its 200-day moving average price is $26.78. The 12-month mean target is $33.45, which means upside potential of 7.97% over the current price. Monness Crespi & Hardt initiated the shares of GDDY in a report on August 12 with "Buy" rating. Godaddy presently has an average rating of "Buy" and an average price target of $34.06. Deutsche Bank upped their price target on Godaddy from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, August 7th. Godaddy (NASDAQ:GDDY) last released its quarterly earnings data on Wednesday, November 4th. The street expected the company to report a loss of $.09 per share on revenue of $408 million, while the company itself expected third quarter revenue to be between $405-410 million.

Saturday, October 31, 2015

Happy Halloween

 Happy Halloween
Cauldrons and broomsticks take shape in the cold night, making your Halloween full of fun and of  fright, don’t cross any witches or fall under their spell, and your Halloween night will go perfectly well!

Friday, October 23, 2015

China cuts rates again to Induce Economic Growth

Central bank of China decrease interest rates last Friday. This the 6th time they cut it in less than a year. They also lowered the level of cash that banks are required to hold as reserves in an attempt to spur growth in its slowing economic growth.

Monetary policy easing in China which is the 2nd largest economy in the world is at its most aggressive since the 2009 financial crisis, as growth looks set to slip to a 25-year-low this year of under 7 percent.

The People's Bank of China (PBOC) said they lowered its benchmark lending and deposit rates to stimulate borrowing and spending without squeezing banks' ability to profit from the spread between two rates.

The change, which Beijing had promised to deliver for months, will in theory allow banks to price loans according to their risk, and remove a distortion to the price of credit that analysts say fuels wasteful investment in China.

China's policy loosening came a day after the European Central Bank said it could give a bigger policy jolt to the economy as soon as December to fight falling prices.

China is the latest of the world’s big economies to turn to its central bank to stimulate flagging growth. The Federal Reserve, with rates already near zero, expanded its holdings of government and mortgage bonds through last year to push down long-term interest rates. Now it is grappling with the timing to raise short-term rates.

China’s announcement came one day after European Central Bank chief Mario Draghi signaled the ECB could do more to stoke growth and inflation in the euro-zone as early as December.

Saturday, October 17, 2015

Online Dating sites Match and Tinder files for IPO

match tinder IPO

Dating sites Match and Tinder wants to go public, soon you will be able to purchase stocks for hooking up. Match Group, the online dating division of IAC/InterActiveCorp, brands include Tinder, OkCupid and Match, has applied with the SEC for an IPO last Friday. It is estimated that they could raise $500 million. No price has yet been set.

The Match will trade under the ticker symbol "MTCH". The company is owned by IAC, the media conglomerate helmed by Barry Diller, which also controls other digital online companies like and Vimeo.

IAC will retain virtually all voting control of Match by offering a non-voting type of stock in the offering.

The paperwork also reveals that Match agreed in July 2015 to acquire PlentyOfFish, another online dating site, for $575 million.

Match and Tinder which are dating sites, have been growing steadily in the past few years. They were able to generate more than $888 million that gave them about $148 million in profit in 2014. In the first six months of 2015, Match generated revenue of $483 million and profit of $49.5 million.

Thursday, September 24, 2015

Wall Street Down Slightly Amid Factory data Growth Worries

Wall Street, economy, stock, finance

U.S. stocks down a bit, it was pulled down by losses in materials and energy shares because of weak U.S. and China factory data. S&P 500 was trading higher slightly when Chinese President Xi Jinping said that China was capable of maintaining a relatively high growth rate for a long time.

The S&P 500 is down 2.8 percent since Thursday, after the Federal Reserve hold interest rates near zero.

According to reports the U.S. manufacturing growth are at a 2-year low in September, while Chinese factory activity shrank to a 6-1/2 year low in the month.

News report about Boeing Co (BA.N) bagging orders and commitments from China for aircraft valued at about $38 billion at list prices, didn't save their shares it fell 1.7% to $131.67.

The S&P materials index .SPLRCM was down by 2.1%, led the decline for the S&P 500 for a 2nd day, followed by the energy index .SPNY, which was down 1.4%.

U.S. crude oil futures close at negative 4.1%, while shares of Chevron (CVX.N) were at negative 1.5% at $76.12.

The Dow Jones industrial average .DJI fell 50.58 points, or 0.31%, to 16,279.89, the S&P 500 .SPX lost 3.98 points, or 0.2%, to 1,938.76 and the Nasdaq Composite .IXIC dropped 3.98 points, or 0.08%, to 4,752.74.