Last week JPMorgan Chase suffered a $2 billion loss on risky investments in the derivatives market. The FBI announced on Wednesday that they are conducting a full investigation into JPMorgan. This massive loss has resulted in JPMorgan shares plummeting 11% over the last week.
Questions concerning the legality of the poorly placed bets and whether JPMorgan may have violated Read the rest of this entry »
Since Apple’s massive stock rise in recent years, its stock has sunk nearly 10% since early April. On the other hand, iPhone carrier’s Verizon and AT&T have both risen around 8% in this same time span. As iPhone sale forecasts slip, carriers stocks have tended to rise in recent months. Read the rest of this entry »
Barnes & Noble shares soared 60% intraday after Microsoft announced they were investing over $300 million in the Nook eReader business and educational books. This newly bred partnership will develop a Nook compatible with Windows 8 that offers eBooks, magazines, and other writings to customers. Read the rest of this entry »
Apple continued to lead the charge for the Nasdaq after a booming earnings report pushed its stock nearly 9% higher to $610. This rise represents the largest point rise in the stock’s history, which helped the Nasdaq surge 2.3%. Analysts speculate that a large portion of Apple’s enormous earnings were from Read the rest of this entry »
On Monday, Facebook agreed to buy Instagram, a mobile photo-sharing app, for $1 billion. Instagram grew exponentially in 2011, starting at around 1 million users and finishing with nearly 30 million today. Instagram is the largest acquisition in Facebook history and will allow Facebook users Read the rest of this entry »
On Wednesday, pasta maker Annie’s Inc. (BNNY.N) raised $95 million in their IPO at a price of $19 per share. At close, shares of Annie had risen nearly 70% to $32.67. Because most of the shares were sold by company stockholders, only $11.6 million is available for Annie’s Inc. Annie’s most well known product is their macaroni and cheese with rabbit shaped pasta.
Ben Bernanke’s comments, which led investors to believe that the Federal Reserve will keep interest rates low, helped spark the Dow Jones industrial average 1.1% and the S&P 500 1.4%. The Fed has maintained a cautious economic outlook despite equities growing strongly in 2012.
The S&P 500 is 12% higher, and the Dow Jones industrial average has grown 7% so far in 2012. Tenet Health Care was a leader of the S&P 500 today, rising over 5%. On the NYSE, for every one stock that declined, three headed higher.
Hewlett-Packard announced Wednesday that it will merge its PC and Printer businesses, which in turn sent HP’s stock 2% lower. HP represents the biggest dog in the Dow Jones industrial average year to date, despite its rivals growing in the bull market.
Combining these two divisions will help HP reduce overhead, but the other benefits of such a move are in the gray according to many analysts. HP stands committed to computers, and will continue to delve into the tablet market after the troubling launch of the HP Touchpad series.
Apple’s CEO Tim Cook announced today that it will spend some of its $100 billion in cash on stock buybacks and a quarterly dividend of $2.65. The dividend will begin in July and will be the first dividend offered by Apple since 1995. Over the next three years, Apple will buy back Read the rest of this entry »
Bank of America’s stock value pushed pass $10 a share on Monday after the bank successfully passed the Federal Reserve “stress test.” The last time BAC’s stock traded at this level was August 1st, 2011. Analysts believe the shift in stock price reflects an adjustment to the book value and still has room to improve.
Bank of America’s shares have gained over 90% since shares were trading below $5 in December of 2011. The financial sector has been one of the largest gainers in 2012 so far, after being hit hard in 2011.
The United Postal Service has expanded its global stronghold by purchasing Dutch peer TNT Express for $6.85 million. This acquisition will vault UPS to the industry leader in Read the rest of this entry »
Apple broke through the $600 mark today, reaching a short lived high of $600.01. To the delight of many share holders, the stock has nearly doubled since reaching a fifty two week low of $310.50 on June 20, 2011. While the $600 mark was short lived the high flyer finished the day on a down note at $585.56.
Analysts at Morgan Stanley have increased Apple’s target price from $515 to $720, stating that investors “still underestimate the potential earnings upside at apple.” What do you think Apple’s price will be on December 31, 2012?
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The contents of this blog are provided for information purpose only. Nothing herein should be considered as an offer to buy or sell any security or securities product. Please contact Place Trade Financial at 919-719-7200 for more information.
A second bailout agreement for Greece is expected to be approved on March 14th according to head euro-region finance minister Jean-Claude Juncker. Leaders are reviewing whether the $170 billion bailout proposal will significantly help Greece and the rest of Europe avoid a disastrous default.
This news comes after investors agreed last week to Read the rest of this entry »
Tax refunds are coming, what are you going to do with yours? Are you going to waste it on depreciating items or invest for your future? The bottom line is spend your tax refund in areas that will build wealth and not debt. Here are my top five recommendations:
Open a Roth IRA Account
Withdrawals from the contribution amount are always tax-free. Additionally, eligible taxpayers can claim a nonrefundable tax credit for contributions.
Start a Portfolio
I hear several people say that they do not have enough money to invest. I think that is one of the biggest mistakes people make when it comes to building wealth. Ric Edelman author of “Ordinary People, Extraordinary Wealth” stated in his book “Rich people start off as poor people. The difference is they take the nickels and dimes and they invest it—they don’t spend it all at the mall.” Read the rest of this entry »
The FOMC disclosed today that there is a continuous strain in the global economy and still significant threats to the U.S. economy. Statistical data showed the rate of consumer spending has recently declined and inflation has remained subdued.
In recent Federal Reserve meetings, it has become evident that members remain divided on how to Read the rest of this entry »
Sarah M. Place, President & CEO of Place Trade Financial, Inc., (Member FINRA, SIPC), (www.placetrade.com), a global full service financial services and online trading firm, announced that Danielle Musselwhite has joined the firm in the North Raleigh branch office. In this position, Ms. Musselwhite will serve as a marketing assistant and work closely with financial advisors, oversee client service issues and handle special projects for senior management while participating in Place Trade’s internship program.
A native of Archers Lodge, North Carolina, Ms. Musselwhite has resided in Raleigh, North Carolina for the past 2 years. She will receive of Bachelor of Communications degree with a concentration in Public and Interpersonal Communications from North Carolina State University. Ms. Musselwhite is a former NC State Cheerleader who enjoys exercising, reading, and painting in her free time.
“We are excited to have Danielle join us at Place Trade,” said Place. “Her enthusiasm coupled with her marketing and communication skills will be a great asset to Place Trade as we continue to increase market share in the financial services industry.”
“I am thrilled to be a part of Place Trade,” says Ms. Musselwhite. “I look forward to learning more about the financial industry as I strengthen my marketing and communication skills.”
Raleigh, NC - Sarah M. Place, President & CEO of Place Trade Financial, Inc., [Member FINRA, SIPC], (www.placetrade.com), a global full service financial services and online trading firm, announced that Cheng Chen has joined the firm in the North Raleigh branch office. In this position, Cheng Chen will serve as a Research Assistant and work closely with Financial Advisors, oversee client service issues and handle special projects for senior management while participating in Place Trade’s Master’s Internship program. Read the rest of this entry »
The Federal Reserve’s decision to keep interest rates near zero and to purchase longer Treasury maturities, has helped catapult the S&P 500 more than 100% since its low of 666 in March 2009. Since Operation Twist was launched by the Fed in October, the S&P has returned nearly 25%.
This turnaround represents the fastest cyclical recovery in the last seven recessions for the stock market. These returns in the stock market and improving unemployment rates have silenced many of Ben Bernanke’s critics.
Despite the improving economic conditions, Republican candidates Mitt Romney and Newt Gingrich plan to remove Bernanke once his four year term comes to an end if either candidate is elected.
Pimco co-CEO Mohamad El-Erian has made his sentiments clear that despite stocks recent strong earnings, they are still in a very precarious situation because of the European debt crisis. El-Erian recommends to keep a cautious attitude regarding the stock market and investing in a larger allocation toward metals.
To read more about El-Erian’s investing views, please read the article linked above in the article.
After Apple released their impressive quarterly results, the company briefly surpassed Exxon Mobile as the most valuable U.S. company based on market capitalization. Apple’s stock rose 6.25% to $446.66 on Wednesday following the 116% profits growth.
Most of Apple’s cash is locked up Read the rest of this entry »