Hot Stock Minute
- Deirdre Hughes at Hot Stock Minute3 hrs ago
Chinese e-commerce giant Alibaba Group said Sunday it will go public in the United States, ending months of speculation about where it would launch its initial public offering. The company initially considered a deal in Hong Kong. The IPO could bring in as much as $15 billion dollars, which would be the biggest IPO since Facebook (FB) went public in May of 2012.
- Dean Arrindell at Hot Stock Minute3 hrs ago
Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
After the close on Friday, Standard and Poor's announced Keurig Green Mountain (GMCR), formerly Green Mountain Coffee Roasters, will join the S&P 500 (^GSPC) effective after the close on March 21st. Keurig Green Mountain will replace WPX Energy (WPX) in the index.
The board of Sears (SHLD) approved the spin off of Land's End, which will begin trading on the Nasdaq in early April under the ticker "LE." Sears stockholders on record as of March 24 will receive about 0.3 shares of Lands' End common stock for each share of Sears they own.
Investors look past Crimean secession vote, await Yellen remarks; Castlight shares skyrocket after IPO; Twitter CEO goes to ChinaDean Arrindell at Hot Stock Minute4 hrs ago
Investors appear to be looking past a nearly-unanimous vote for Crimea to secede from Ukraine and join Russia. U.S. and European officials say the referendum is illegal and will not be recognized. The question now is what form of economic sanctions will be levied against Russia in response to the vote. While investors wait and watch for those developments, they're also awaiting this week's Federal Reserve meeting and Fed Chair Janet Yellen's first news conference as Chair.
British-based Vodafone Group, the world's second-largest wireless carrier, has agreed to buy Spanish cable company Ono for 7.2 billion euros - or about $10 billion - including debt. In addition to giving Vodafone about 1.9 million additional wireless customers, the deal will allow Vodafone to compete in Spain's high-speed broadband cable market. The agreement came ahead of a planned IPO for Ono which was expected to value the company at around seven billion euros. It's Vodafone's first big deal since selling its $130 billion stake in Verizon.
- Dean Arrindell at Hot Stock Minute2 days ago
Stocks ended the week marginally lower on two pieces of disappointing economic news. The Dow (^DJI) closed down 42 points to 16,067 while the Nasdaq (^IXIC) ended the day down 15 points, closing at 4,245. The S&P 500 (^GSPC) finsihed the session down five points at 1,841. The U.S. producer price index declined 0.1% in February versus expectations of an increase of 0.2%. Also, consumer sentiment declined to 79.9 in early March from 81.6 last month. That’s its lowest since November. The decline was blamed on the cold weather and snow across much of the country.
Poll: Do you still trust a company that is alleged to have ignored a problem impacting its customers?Dean Arrindell at Hot Stock Minute3 days ago
Target (TGT) yesterday said in an email statement that its staff received information about malicious activity during last year's data breach, but the team chose to do nothing about it. The company is investigating its response to the breach which compromised 40 million credit and debit accounts and the personal information of as many as 70 million customers beginning on Black Friday. The team at Target received an alert the next day about malicious activity - one of hundreds the company receives daily - from an outside company that monitors its systems.
The news that Target didn't react to the warning about the data breach comes as reports show General Motors (GM) knew about ignition problems more than a decade before it issued recalls of the vehicles in question. We want to know how you feel about this. Today's poll question asks: Do you still trust a company that is alleged to have ignored a problem impacting its customers? Cast your vote and post your comments as well.
- Deirdre Hughes at Hot Stock Minute3 days ago
Among the stocks the Yahoo Finance team will be watching for you today: General Motors (GM). The New York Times reported a new review of federal crash data found 303 people died after air bags failed to deploy in two of the models GM recalled last month. The recall of the two vehicles in the study, as well as four other models, was due to faulty ignition switches that could cut power to the vehicle and keep the airbag from deploying. GM, which attributed 12 deaths to the defect and criticized the methodology of the study, has come under fire for waiting until last month to recall the cars after it had received reports about the defect in 2001.
Producer price index declines; Stocks react to China and Ukraine; More trouble for GM; Privacy concerns over WhatsAppDeirdre Hughes at Hot Stock Minute3 days ago
Stocks were headed lower in early trading Friday after disappointing reports on the U.S. and Chinese economies. The U.S. producer price index declined 0.1% in February. Economists were expecting to see an uptick of 0.2%. Meanwhile, there were more signs of slowing economic growth in China. The world's second-largest economy released weaker-than-expected February retail sales and industrial output figures.
Traders are watching developments in China and Ukraine as tensions rise ahead of Sunday’s vote on whether Crimea will become a part of Russia again. Concerns about developments overseas have overshadowed positive reports on the U.S. economy, such as yesterday’s retail sales and jobless claims, which were both better-than-expected.
- Hot Stock Minute3 days ago
Stocks ended the day sharply lower, with the Dow (^DJI) shedding over 200 points. Disappointing industrial output and retail sales data from China gave the market pause, and tensions rising in Ukraine pushed stocks lower. The Nasdaq (^IXIC) ended the day down 1.5%, and S&P 500 (^GSPC) lost nearly 1.2%.
Amazon (AMZN) announced the price of its Prime premium service will go up from $79 to $99 a year. The service offers free two-day shipping on qualified items, unlimited streaming on Prime Instant Video and free e-book borrowing from Amazon's Kindle library. In a January conference call, the company said the fee for Prime could go up $20-$40 because of rising fuel and shipping costs. Shares of Amazon closed today marginally higher.
- Hot Stock Minute4 days ago
Today is the first-ever job fair for marijuana workers, according to organizers of the event. They expect about 1,000 people to turn up in Denver for “CannaSearch,” where some 15 marijuana-related companies will be recruiting workers for everything from IT jobs to horticulture and quality control. The host of the event is vaporizer company O.penVAPE. "We're hosting this for the industry and for job seekers," company spokesman Todd Mitchem said in a press release. "We know jobseekers will be pleasantly surprised at the number of well-paying mainstream positions with comparable compensation available in this exciting new industry."
Among the companies who will be recruiting at the fair is magazine, whose stated goal is to be “an elegant educational resource” for the industrial hemp and medical marijuana industries. “We believe that both industrial hemp and medical cannabis can open the doors to a better planet in regards to health care, environment and global economic prosperity,” says the magazine’s website.
- Hot Stock Minute4 days ago
Here are some of the stocks the Yahoo Finance team will be watching for you today.
Fuel cell maker Plug Power (PLUG) reported a loss of $0.08 a share, in line with estimates. Revenue jumped 35%, but is still just $8 million. The company has been an active trade this week, swinging from steep gains early in the week, to steeper losses and back again. The company had been rising on new contracts with Wal-Mart (WMT), but an analyst this week said he sees the company fairly valued at just $0.50 a share. That sent the stock sharply lower.
Williams-Sonoma (WSM) reported better-than-expected quarterly earnings and revenue after yesterday's close. Earnings per share beat estimates by $0.02 and revenue rose more than 4%. Sales were particularly strong for the company's West Elm and Pottery Barn brands. The board also authorized a 6% increase in the quarterly dividend bringing it to $0.33 a share.