SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

Mario Randholm

  • LOGIN
  • Home
    • Team Experience
      • Mario Randholm
  • Blog
  • Resources
    • Partners
      • Thomson Reuters
      • MultiCharts
      • Municipalidad de Miraflores
      • TradingDiary Pro
    • AutoTradingAutoTrading
    • R Option ModelModel
    • Historical Performance
    • Comparison Matrix
  • Memberships
  • FAQ
    • Term of Service
Contact Us
  • Home
  • Blog
  • Market Update
  • Market Update

Market Update

randholm
October 15, 2013 4:47 pm / Published in Market Update

Market Update

Stocks Lower on Mixed News from the Congress! Stocks on Wall Street were modestly lower at midday as the nation marches closer to potential default without a debt ceiling deal in place, but headlines continue to flow from Washington about the ongoing negotiations being held between Democrats and Republicans. The lone economic release of the day, the Empire Manufacturing report, was lower than expected but had little effect on the market. ECONOMIC EVENTS: In the U.S., the New York Fed’s Empire State manufacturing index dropped 4.8 points to 1.5 in October, which was below the consensus expectation. COMPANY NEWS: Dow components Johnson & Johnson (JNJ) and Coca-Cola (KO) were both fractionally higher following their quarterly reports… Citigroup (C), the third of the major U.S. banks to report, posted earnings that fell a bit below analysts’ consensus forecast and that were down from last year’s level. Citi’s revenue from bond trading and mortgage refinancing fell significantly from the prior year but its stock was little changed near noon… Apple (AAPL) shares hovered near $500 a piece as the company sent out invitations to an October 22 event, where it is expected to unveil new models of the iPad and iPad mini, and hired Angela Ahrendts, who was formerly the CEO of Burberry (BURBY), to be senior vice president of its retail and online stores. MAJOR MOVERS: Among the notable gainers was Mac-Gray (TUC), which jumped 42% after agreeing to be acquired by CSC ServiceWorks for $21.25 per share. Also higher were shares of discount broker Charles Schwab (SCHW), which rose over 5% and hit a new 52-week high after the company’s third quarter results topped estimates. Among the noteworthy losers was rare-earth miner Molycorp (MCP), which plunged 19% after filing to sell $200M in common stock and saying its revenue and cash flow from operations have been "significantly lower" than the company originally expected. Also lower were shares of Teradata (TDC), which were downgraded by at least four research firms and dropped 16% following the company’s third quarter profit warning.

Mario Randholm

www.mariorandholm.com

P Before printing this message, please make sure it is necessary.

Check your inbox or spam folder to confirm your subscription.

Categories

Twitter

Lightning fast alerts:

twitter.com/MarioRandholm

twitter.com/RandBots

Archives

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

ABOUT US

Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.

CONTACT US

Message us

Mario's Linkedin

Past performance is no guarantee of future results.

Disclaimer:

This site is for informational purposes only. Nothing on this site should be considered investment advice or as a solicitation to buy or sell any security.

Please see our full Disclaimer.

TOP