- Bill McColl at Hot Stock Minute23 hrs ago
Investors in space travel likely won’t be deterred despite yesterday’s launch failure of an Antares rocket owned by Orbital Sciences (ORB). But they may be slowed down a bit.
Shares of the company sank after the early evening crash just after liftoff at the Wallops Island, Virginia launch pad. The unmanned vehicle was carrying supplies to the International Space Station.
Yahoo Finance Editor in Chief Aaron Task believes Orbital Sciences, as well as other space investors such as Elon Musk of SpaceX and Alliant Techsystems (ATK), will just move on from here.
“Orbital Sciences and NASA don’t have to go back to the drawing board, but they are going to need to take a lot of time to figure out what went wrong and that’s going to delay and make more expensive future launches.”
NASA has been farming out its space operations to private firms for several years, and Task says that hasn’t necessarily made space travel that much better.
- Kathy Cherpelis at Hot Stock Minute23 hrs ago
Another blast of corporate earnings hit Wall Street.
Facebook (FB) shares fell in early trading after the social network company said it would ramp up spending dramatically next year and projected revenue in the current quarter would slow. That took the shine off of Facebook's better-than-expected earnings and revenue, which were fueled by strong growth in mobile advertising.
Hershey (HSY) shares turned sour ahead of the bell. The maker of Hershey Kisses and Reese's Peanut Butter Cups reported earnings and revenue that missed analysts' estimates. The company also cut its earnings outlook for the year because of weaker-than-expected sales growth overseas.
Wall Street looks to end of Fed bond buying; Facebook shares drop on future outlook; Orbital Sciences stock crashes after rocket crashYahoo Finance at Hot Stock Minute1 day ago
Stocks are mixed this morning. Investors are playing it close to the vest as Wall Street awaits word that the Federal Reserve will put an end to its bond buying program.
Yahoo Finance Editor-in-Chief Aaron Task said what the markets will be watching for in the Fed’s statement later this afternoon (2 p.m. EST) is, “Do they change the language about labor utilization and slack and the timing of when they might think about raising rates.”
The technology sector feelling the pressure from Facebook ( FB ) shares, which fell in early trading. The social network company said it would ramp up spending dramatically next year and projected revenue in the current quarter would slow. That took the shine off of Facebook's better-than-expected earnings and revenue, which were fueled by strong growth in mobile advertising.
- Bill McColl at Hot Stock Minute1 day ago
Wal-Mart (WMT) is hearing the call of duty…early!
The world’s biggest retailer will have the newest version of GameStop’s (GME) “Call of Duty” series on its shelves ahead of the competition. Walmart will offer “Call of Duty: Advanced Warfare” 24-hours before the November 4 th release date. In addition, Walmart will be selling used video games at about half its stores that offer them. The company has been buying up used games from the public since the spring.
Yahoo Finance Senior Columnist Michael Santoli likes what Wal-Mart is doing with its video game offerings.
“It’s very smart,” he says. “It’s one of the few areas of physical retail that remains relatively thriving.”
Research firmNPD says consumers spent a total of $15.39 billion on video game content in the U.S. last year.
Santoli thinks these moves are also well timed.
- Bill McColl at Hot Stock Minute1 day ago
The operator of the self-styled “World’s most famous arena” may be looking to cash in on the value of the New York Knicks following the $2 billion dollar sale of the Los Angeles Clippers NBA franchise.
Madison Square Garden Company (MSG) says it is considering splitting its business into two units-- one would operate the Knicks, New York Rangers and the teams’ cable networks, while the other would be home to Madison Square Garden, Radio City Music Hall and its other entertainment properties.
Yahoo Finance Senior Columnist Michael Santoli says the recent sale of the Clippers to former Microsoft (MSFT) boss Steve Ballmer might make this the ideal time to pull off such a move.
“That’s one historically lousy franchise that doesn’t even own its own building and is worth $2 billion,” he notes. “That must mean the New York Knicks, hidden inside MSG, must have a higher value, especially since the entity owns the very profitable building the team plays in.”
Twitter's wings get clipped; Kohl's shares marked down; Madison Square Garden scores on news of splitKathy Cherpelis at Hot Stock Minute2 days ago
Earnings still grabbing investors' attention this morning.
Twitter (TWTR) shares tanked in early trading. The online messaging service forecast that sales in the current quarter could miss Wall Street views as its user base continued to expand at moderate pace and a key metric that measures engagement fell last quarter. However, earnings per share came in right in line with analysts' estimates and revenue topped expectations.
We are also keeping an eye on shares of Coach (COH). The luxury apparel retailer reported earnings and revenue that topped forecasts thanks to strong sales overseas. However, sales fell nearly 10% from a year ago as it continues to struggle with weakness in North America.
Elsewhere in the retail space, Kohl's (KSS) stock took a hit ahead of the bell. The department store chain warned profit for this year will be at the low-end of its guidance due to soft sales at the end of October. The company is scheduled to hold an annual investor conference tomorrow.
- Yahoo Finance at Hot Stock Minute2 days ago
Stocks are building on yesterday’s gains despite some mixed economic data.
Consumer confidence was undettered by the stock market volatility and fears of Ebola spreading.
The Conference Board’s confidence index jumped to a seven year high of 94.5 in October from 89.0 in September
Meantime, durable goods posted a surprise drop last month. The Commerce Department reported that the purchases of big ticket items fell for the second month in a row in September, down 1.3%. Economists were expecting to see an increase.
The Federal Reserve also kicking off its two-day meeting today.
Yahoo Finance Senior Columnist Michael Santoli said the market has already priced in the end of the Fed’s bond buying program.
“The wording of the Fed statement that is going to describe their thinking about when interest rates--now near zero—may lift,” is what the markets will be focusing on, he says.
Santoli points out that the market is anticipating that the Fed won't raise rates until late next year.
- Bill McColl at Hot Stock Minute2 days ago
Social media is elbowing its way into another part of our lives. This time, it’s holiday want ads.
Some retailers are using Facebook (FB), Twitter (TWTR) and other sites to recruit employees for the holiday shopping season. The Wall Street Journalreports merchants such as Container Store (TCS) are having trouble getting enough workers to fill the extra slots needed during that busy shopping period. So, they’re reaching out to their customers, asking if they know anyone who would like a job.
“This says that social media is media now,” says Yahoo Finance Senior Columnist Michael Santoli. “It’s no longer about being this extra, weird side thing that people use for some things. It is how people interface with the world.”
- Bill McColl at Hot Stock Minute2 days ago
Will you need to carry different smartphone payment systems like you do credit cards?
That might be the upshot of the battle going on over such systems following the release of Apple (AAPL) Pay earlier this month.
CVS (CVS) and Rite-Aid (RAD) are blocking the use of Apple Pay in their drugstores. And it appears the reason is both are part of a merchant consortium working to create a rival system known as CurrentC.
Yahoo Finance Senior Columnist Michael Santoli says the stores don’t want to just create a high-tech version of the credit card, they want to replace the credit card.
“These retailers want them to be more like a souped-up rewards program that basically cuts out the card processors and banks altogether, deducts money from your checking account and allows them to deliver discounts to their customers,” he says.
Santoli feels that means shoppers could be the ones looking for more than one option.
“If you want to build up those points at that particular retailer, maybe that’s the way you do it,” he notes.