Closing Bell July 15 – Business Insider
A link has been sent. Done Time Warner and Intel are big market movers Time Warner, Yahoo, Intel, HCA Holdings, and PNC Financial are big market movers 1 hour ago Content preferences Done NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Time Warner Inc. (TWX), up $12.12 to $83.13 The media and entertainment company said it rejected a takeover bid from Rupert Murdoch’s Twenty-First Century Fox Inc. International Game Technology (IGT), up $1.42 to $16.92 The slot machine maker is being bought for $4.7 billion by the Italian lottery operator Gtech for $4.7 billion in cash and stock.
Stocks waver amid valuation worry and bank earnings
Consumer staples and health care led declines and telecommunications and financials fared best among the 10 major sectors on the S&P 500 , lately off 2.74 points, or 0.1 percent, at 1,974.36. The Nasdaq declined 20.86 points, or 0.5 percent, to 4,419.57. For every share rising, nearly two fell on the New York Stock Exchange, where 426 million shares exchanged hands as of 3:05 p.m. Eastern.
US stocks close higher; Time Warner soars – The Denver Post
Other deals involving Apple and IBM as well as slot machine maker International Game Technology also helped lift the market. “It’s a continuation of what we’ve really been seeing this year, and it’s almost a record amount of (mergers and acquisitions) going on,” said David Chalupnik, head of equities at Nuveen Asset Management. Momentum from Intel’s strong second-quarter earnings late Tuesday and news that Apple and IBM are teaming up to sell more iPhones and iPads to corporate customers helped lift major stock indexes in premarket trading. The disclosure by Rupert Murdoch’s Twenty-First Century Fox that it had made a bid for Time Warner last month added to the modest rally.
Investors beware: A market shock is looming – Yahoo News
Ive said we are in a risk-on environment and I think we ought to be cautious because whats the basis of this economic expansion has really been the Fed money and P/E plays, he says. As far as profits, its been cutting costs, profit margins. It hasnt been basic increase in sales volume and pricing power and I think that situation is still intact. He believes the defensive posture hes maintained even through the recent run-up in stocks is the better part of valor for the time being. As far as when that defensive posture could start to soften, Shilling believes investors need to be prepared for a shock that could send a shiver through the markets. How long is this risk on environment going to last, he asks.
JPMorgan’s revenue came in at $25.3 billion, and on the company’s conference call, CEO Jamie Dimon, who a few weeks ago announced he had curable throat cancer, said he “feels great.” 6) Goldman Sachs reported Q2 adjusted earnings per share of $4.10, topping expectations for earnings of $3.09. Revenue was $9.13 billion, also better than the $7.98 billion that was expected. Goldman’s revenue in its fixed income, currency and commodities client execution segment were down 10% over last year, while http://www.todayhotstocks.com revenues in equities were down 13%. 7) Things are still tough on Wall Street, and these two charts from JPMorgan’s earnings presentations showed just how hard things were for traders in the second quarter. JPMorgan’s markets revenue down 14% in Q2 (though the bank said in May that it could fall as much as 20%), while mortgage production fell 74% over last year. 8) Tobacco giants Reynolds American and Lorillard announced a $27.4 billion merger deal in which Reynolds would acquire Lorillard, as well as spin off some of its brands to British tobacco company Imperial Tobacco.