April 29, 2016 Financial News – Business News – Stock Exchange – Market News

April 29, 2016 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 2016

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

On Monday, new home sales for March came in at 511,000 annualized units, compared to the prior month’s 519,000. Markets didn’t move much as investors were on edge due to upcoming earnings reports and the Federal Reserve meeting.

On Tuesday, durable goods orders for March rose .8% month-over-month compared to the prior month’s 2.8% decline. The Case-Shiller home price index for February rose .7%, and consumer confidence for April dipped 1.9 points to 94.2. During after-hours trading Apple fell over 6% as it posted its first quarterly decline in revenue in over a decade, amid slowing demand for its iPhone.

On Wednesday, U.S. crude oil rose almost 3% to $45.33 a barrel, its highest level since last November. The Federal Reserve concluded its meeting and kept rates unchanged, and also noted that the economy appears to have slowed and that growth in household spending has moderated. Markets were mixed on the news.

On Thursday, markets opened to reports that the Bank of Japan didn’t increase stimulus to its economy, and also the U.S. GDP for the first quarter was a disappointing .5% as consumer spending slowed. Jobless claims for the week ending April 23rd rose 9,000 to 257,000. Apple continued to lose over 3%, weighing on the markets. The Dow Industrials closed down 210 points and Nasdaq down 57.

On Friday, personal income for March rose .4%, however consumer spending ticked up only .1%. Inflation remained tame with the PCE price index increasing .1% Markets opened sharply lower on the news. Now let’s take a look at some stocks.

Facebook (NASDAQ: FB) shares surged more than 10% after the popular social networking company reported 1st quarter earnings Wednesday. Sales increased 52% year-over-year, to $5.3 billion. Profit tripled from a year ago, reaching $1.5 billion, or 77 cents a share, far surpassing expectations of $0.62 a share.

Comcast (NASDAQ: CMCSA) announced that it is buying DreamWorks for $3.8 billion, or $41 per share, representing about a 50% premium from where the stock’s price was before the merger talks were reported.

Amazon (NASDAQ: AMZN) shares shot up more than 12% Thursday after-market, as the company’s sales increased 28% during the first quarter of 2016 year-over-year. Amazon also provided strong guidance for next quarter, estimating net sales are expected to grow between 21%-32% year-over-year. Amazon Web Services accounted for 56% of the company’s profit this quarter.

LinkedIn (NYSE: LNKD) shares increased after the professional social media company reported earnings with total revenue increasing 35% year-over-year, reaching $861 million. Premium subscribers contributed $149 million to total revenues, an increase of 22%.

Expedia (NASDAQ: EXPE) was up more than 10% after-hours on Thursday after its first quarter financial results surpassed expectations. The company reported earnings of $0.09 per share, beating estimates of $0.06 cents. Revenue jumped 42% year-over-year to $1.9 billion.

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Post Author: Technology Media