Hot Stock Minute
- Dean Arrindell at Hot Stock Minute1 day 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 Minute1 day 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 Minute1 day 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 Minute1 day 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 Minute2 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 Minute2 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 Minute2 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.
- Deirdre Hughes at Hot Stock Minute2 days ago
Amazon (AMZN) today said it would raise prices on its Prime premium subscription service from $79 a year to $99 a year. This is the first time the retailer is raising the price of the service since it launched nine years ago. Student members will pay $49 a year instead of $39.
The company said current members will still receive all the benefits of Amazon Prime, including free two-day shipping for eligible purchases, unlimited streaming with Prime Instant Video and free e-book borrowing from its Kindle library.
The company warned earlier this year that a rise in Prime prices was on the horizon. In a January conference call with analysts about its disappointing fourth-quarter results, Amazon said Prime prices could go up between $20 and $40 a year due to rising fuel costs and other shipping expenses. During the same conference call, the company also reported more than 1 million people signed up for the Prime service in the month of December.
February retail sales; Weekly jobless claims; GM warning on keys; Marijuana workers wanted in DenverHot Stock Minute2 days ago
Two pieces of U.S. economic data were released this morning. Weekly jobless claims fell 9,000 last week to 315,000. Economists expected to see an uptick claims to 330,000. February retail sales were also released. They were up 0.3% versus estimates of a rise of 0.2%.
Also this morning, Amazon (AMZN) announced that it raise the price of its Prime membership service from $79 a year to $99. It’s the first time Amazon will have raised the price for the service that offers free two-day shipping.
One of the stocks we’re watching today is Krispy Kreme (KKD) after the company yesterday raised its outlook for the full year and boosted its stock buyback by $30 million. The doughnut-maker reported third quarter results slightly below estimates. Earnings missed by a penny and revenue increased more than 3%, but just missed estimates. Same store sales grew 6% in the U.S., but international sales declined 3%. Krispy Kreme said it expects its worldwide store count to increase 10% this year. They currently have more than 800 locations around the world.
- Hot Stock Minute3 days ago
Stocks closed the day virtually flat, with the Dow (^DJI) barely in the red, while the Nasdaq (^IXIC) and S&P 500 (^GSPC) eked out slight gains. Relative strength in U.S. markets followed overseas markets sliding due to tensions rising between western countries and Russia.