Hot Stock Minute
- Hot Stock Minute12 hrs ago
Stocks ended the day mixed ahead of tomorrow’s February jobs report. The S&P 500 posted its 50th record close in the last twelve months finishing the day at 1,877. The Dow Jone Industrial Average moved moderately higher and the Nasdaq closed just barely in the red. The Labor Department will release its latest report on the number of jobs added to the economy at 8:30am ET tomorrow morning. Hot Stock Minute will have all the details live. Earlier today, the Labor Department said the number of Americans filing for first time jobless claims declined more than expected to 323,000 in the week ended March 1st. While jobless claims declined, worker productivity also declined more than expected to 1.8%, from the 1.9% economists expected.
- Hot Stock Minute17 hrs ago
The Obama Administration has announced another delay for Obamacare. This latest move, announced by the White House last night will allow insurance companies to continue selling plans that don't meet the law's more rigorous standards until 2016 in some cases. In a release of new guidelines to insurers and employers for 2015, the administration said it would allow renewal of noncompliant health plans that begin as late as October 1, 2016. According to officials, the change could impact between 500,000 and 1.5 million people who hold insurance policies that lack consumer protections required by the Affordable Care Act.
This is the latest in a series of delays and changes to the law, ordered by the administration. In July of 2013, the Obama Administration announced it would delay the “employer mandate” for one year. Under the original law, companies with 50 or more workers were required to provide employees with healthcare by 2014 or pay a fine. In February of this year that rule was modified again for firms with between 50 and 99 employees. The administration said those companies would not have to meet the mandate until 2016.
Poll: Would you take investment advice from a firm you found on Twitter, Facebook or other social media?Hot Stock Minute17 hrs ago
The Securities and Exchange Commission busted a Ponzi scheme being promoted on Facebook and Twitter. The SEC froze the accounts held by Fleet Mutual Wealth and MWF Financial. Officials say Mutual Wealth promised returns of 2% to 3% per week for their investors, but actually moved customer money to offshore accounts held by shell companies. The SEC also alleges the headquarters in Hong Kong and a data center in New York that the company claimed to operate never actually existed. Mutual Wealth also listed fake executives on its website and claimed to be registered with the SEC. About 150 investors from the U.S. opened accounts and invested at least $300,000. In our poll today, tell us: would you take investment advice from a firm you found on Twitter, Facebook or other social media? Cast your vote and post your comments as well.
- Hot Stock Minute18 hrs ago
These are some of the stocks the Yahoo Finance team will be watching for you today.
Staples (SPLS) reported disappointing earnings and revenue results for the most recent quarter and warned current quarter estimates will be well below Wall Street targets as well. Earnings per share missed by $0.06. Revenue declined 11% and also missed estimates. The company said it will close 225 stores by the end of 2015. CEO Ron Sargent said nearly half the company's business is now generated online. Store traffic was down 6% for the quarter.
Costco (COST) reported disappointing results in its fiscal second quarter. Earnings and revenue both missed on disappointing non-food sales and lower international profits. Revenue rose 6%, but just missed Wall Street estimates. The company said total same store sales rose 5% for the quarter, excluding currency fluctuations.
- Hot Stock Minute19 hrs ago
Jobless claims for the week ended March 1 came in better-than-expected, down 26,000 to 323,000, according to the Labor Department. The number of Americans filing for unemployment benefits has been on the rise in recent weeks. The positive report on the job market comes just one day ahead of the monthly employment report. Economists expect to see an improvement in the number of jobs created in February after disappointing reports in December and January.
While this morning’s jobless claims report was encouraging, a separate report showed a decline in worker productivity. Fourth-quarter productivity fell to 1.8%, below economists’ expectations of 1.9% and down from the 3.2% the government had previously reported for the quarter.
The European Central Bank and the Bank of England each held key interest rates steady as expected at record-low rates near zero. The Bank of England also held its quantitative easing policy steady.
- Hot Stock Minute1 day ago
Stocks ended the day mixed after lackluster economic news. Automatic Data Processing reported that companies added just 139,000 jobs in the month of February, below the 155,000 economists were expecting and well below the 175,000 jobs ADP reported in January. The report is closely watched by some as an indication of what may come from Friday's jobs report from the Labor Department, but it is not always an accurate indicator as we saw in December, when the government reported just 74,000 jobs after ADP's strong report of 238,000 jobs.
In a separate report, the nonmanufacturing sector slowed sharply in February, according to the Institute for Supply Management’s purchasing managers index. The ISM report also showed a contraction in employment for the first time in more than two years.
President Obama proposes $1 trillion in new taxes; China reveals concerns about economic growth; Chipotle warns climate change could threaten guacamole and salsaHot Stock Minute1 day ago
Climate change might be a threat to... guacamole! That’s right! In a 10-k filing with the SEC, food chain Chipotle (CMG) says climate change could impact the price and availability of some of its ingredients. If that happens, the company says instead of paying the higher prices, it will suspend serving some of their menu items like salsa and guacamole. What do you think? Is climate change a threat to guacamole? Cast your vote and leave a comment below.
Also in the corresponding video, Yahoo Finance Editor-in-chief Aaron Task speaks with Lauren Lyster about President Obama’s budget plan that would raise more than $1 trillion in taxes over 10 years. He unveiled a budget proposal yesterday that would raise tax revenue by closing loopholes, raising some taxes and cracking down on enforcement. Where does that money come from and do these proposals have a chance since Congress would have to approve these ideas?
- Hot Stock Minute1 day ago
Restaurant-chain Chipotle (CMG) issued an ominous warning about the effects of climate change on some of its menu items, including – brace yourselves – guacamole and salsa. In a regulatory filing with the Securities and Exchange Commission, Chipotle warned that increasing weather volatility, including global climate change could have a significant impact on the price or availability of some of its regular ingredients. “In the event of cost increases with respect to one or more of our raw ingredients, we may choose to temporarily suspend serving menu items, such as guacamole or one or more of our salsas, rather than paying the increased cost for the ingredients,” the company stated in its most recent 10-k filing.
- Hot Stock Minute1 day ago
Now a look at some of the stocks the Yahoo Finance team will be watching for you today. PetSmart (PETM) reported better than expected earnings. Earnings per share beat by $0.07, while revenue declined from last year and just missed estimates.
Smith & Wesson (SWHC) reported better than expected earnings after the bell yesterday. The gun maker said earnings per share came in $0.06 better than Wall Street forecasts. Revenue increased 7% to $146 million, also above estimates. The company attributed the gains to stronger gun sales and better margins. The gun maker also said its current quarter results will be better than analysts' estimates and raised its full year outlook as well.
- Hot Stock Minute1 day ago
Stocks were mixed after Automatic Data Processing reported that companies added just 139,000 jobs in the month of February. Economists were expecting 155,000 jobs. In January, ADP reported 175,000 jobs. The report is closely watched by some as an indication of what may come from Friday's jobs report from the Labor Department, but it is not always an accurate indicator as we saw in December, when the government reported just 74,000 jobs after ADP's strong report of 238,000 jobs. The job market is not alone when it comes to feeling the cold weather.