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  • Jennifer J 08:45 on January 8, 2016 Permalink | Reply
    Tags: , economy, , , , ,   

    Hedgefund News Wrap: Week Ending 01/08/2016 

    THE GUACAMOLE IS EXTRA, IS THE E COLI TOO?

    (FOX News) – Your favorite place to grab a burrito the size of newborn is now undergoing a criminal investigation. Chipotle Mexican Grill Inc is now under investigation by the U.S. Attorney’s Office for the Central District of California in conjunction with the Food and Drug Administrations’s Office of Criminal Investigations.

    With a nationwide spotlight on the burrito-giant’s E. coli outbreak, a separate norovirus outbreak in Boston and a falling stock, the company is feeling the heat. Co-CEO and leading scientists have stated that the company will likely never know which ingredient is the culprit, but plan to fully cooperate with the investigation.

    As for now, Chipotle is running full page newspaper ads in major cities apologizing and should be playing “Sorry” by Justin Bieber on repeat in all of it’s stores.

    Read the entire article at Fox News
    More coverage: The Wall Street Journal and U.S. News & World Report

    DO YOU THINK YOUR FITBIT IS LYING TO YOU? 

    (Fortune) – If yes, then you aren’t alone. Recently, a Colorado woman has filed a class action lawsuit against FitBit Inc. The woman alleges that her Charge HR device is “wildly inaccurate,” including that false advertising is in play and that its heart rate monitoring technology, PurePulse, is inaccurate.

    Apparently others are claiming that they have experienced inaccuracies as well, but FitBit is calling BS. “We do not believe this case has merit,” Heather Pierce, a spokeswoman for the company, said in an e-mail. “Fitbit stands behind our heart rate technology and strongly disagrees with the statements made in the complaint and plans to vigorously defend the lawsuit.”

    We are only 7 days into the new year and FitBit has struck out twice. Earlier this week, FitBit scoffed at the Apple Watch with the release of it’s smartwatch entitle “blaze,” the name fits as the company tumbled 18% that day and the idea went up in flames.

    As a relatively young company, FitBit’s reaction to these allegations, lawsuit and not-so-good product launch will be a tell-tale sign as to the company’s future.

    Read the entire article at Fortune
    More coverage: BloombergBusiness and Nasdaq

    SOUR APPLES

    (CNBC) – It turns our iPhones may just be a fad, as the Japanese financial news service Nikkei reported that the company is expected to reduce the output on its iPhone 6s and 6s plus devices by about 30 percent between January and March. After the news was released on Tuesday, Apple’s stock tumble and closed down over 2 percent at $100.73 on Wednesday.

    Initially, Apple told part makers in Japan and South Korea to maintain production at the same level as last year, but slower sales have made them adjust production. But according to a report, sales are expected to return to normal during Apple’s third quarter, between April and June

    “This is an eye-opening production cut which speaks to the softer demand that Apple has seen with 6S out of the gate,” says Daniel Ives, senior analyst at FBR Capital Markets, said in an interview. “The Street was bracing for a cut, but the magnitude is a bit more worrisome and speaks to a soft March quarter on the horizon.”

    Read the entire article at CNBC
    More coverage: Bloomberg Business and USA Today

     
  • Jennifer J 15:12 on December 11, 2015 Permalink | Reply
    Tags: , economy, , , ,   

    Hedgefund News Wrap: Week Ending 12/11/2015 

    LET’S TALK ABOUT STEVE WYNN

    (CNN Money) – A CEO has come up with an interesting way to save his company from the red and being one of the worst-performing stocks of the year. Founder and CEO of Wynn Resorts, Steve Wynn, purchased more than 1 million shares of Wynn Resorts between December 4 and 8.

    Following suite, the stock surged more than 15% in early trading Wednesday and investors became excited again. Although at $72 today, far from it’s March 2014 high of $246.65, it’s common practice that when a CEO buys a large piece of the pie, it’s a good sign. Wynn now owns more than 11  million shares of the company, wearing the crown of the firm’s largest individual shareholder and third-biggest overall.

    With Chinese gambling rules taking a disastrous toll on one of Wynn’s properties, it will be interesting to see if his investment pays off.

    Read the entire article at CNN Money
    More coverage: Business Insider and The Motley Fool

    A CASUAL $130 BILLION

    (USA TODAY) – The chemical giants DuPont and Dow Chemical Co. have agree to merge in an all-stock deal valued at $130 billion, including future plans to split into three. Get ready for DowDuPont to be a household name.

    The new chemical and agricultural giant is one of top 20 largest mergers ever, speculating that there may be some regulation difficulties. “Any merger that consolidates this market into fewer hands will give farmers fewer choices and put them at even more economic disadvantage,” said Wenonah Hauter, executive director of the advocacy group Food & Water Watch, in a statement. “The Department of Justice needs to block this merger to prevent the further corporate control of the basic building blocks of the food supply.”

    But on the bright side, the companies have identified $3 billion in annual cost savings, equaling $30 billion in market value. DowDuPont will be split in about 18-24 months time via tax-free spin-offs, becoming three independent companies; agriculture, materials and specialty products.

    Read the entire article at USA TODAY
    More coverage: CNBC and The Washington Post

     

    DON’T BET ON BETTING IN NY

    (Fortune) – DraftKings and FanDuel are in a very, very large pickle. If you’re in the state of New York and are planning on betting on either DraftKinds or FanDuel, you are officially SOL for the duration of the case regarding the two companies.

    After going back and forth for sometime now, a judge put his mallet down and has sided with Schneiderman’s efforts in shutting down their games for New York players. Both companies have stated they plan to file emergency appeals seeking to block the order from taking effect, but let’s see how it shakes out.

    All I have to say is, “let the boys play!”

    Read the entire article at Fortune
    More coverage: CNN Money and Business Insider

     
  • Mike T 00:30 on April 22, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of April 22, 2015 

    Housing looks soft, although pending home sales are better than expected. The value of the dollar and the weakness of the economies of Europe and Asia are hurting durable goods orders although analysts are expecting gains. Manufacturing has failed to meet expectations, and is a contributing factor to the Fed postponing raising rates until much later in the year.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 15:21 on March 25, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of March 25, 2015 

    Although the Fed has removed “patient” from its statement, it has signaled it remains dovish due to the deceleration of the economy. Its projections have been decreased for unemployment, GDP growth and inflation. Manufacturing and housing have both been weak recently. Housing starts dropped decidedly in February, but it is difficult to gauge the effect of the record-breaking weather. Reduced energy costs have had an enormous effect on prices, which have been one of the catalysts in declining factory orders for six straight months. Econoday’s consensus is for a slight uptick in headline and core inflation for last month.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 10:36 on March 18, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of March 18, 2015 

    Sluggish growth in Asia and recessions in areas of Europe have had a negative impact on US manufacturing, which has declined for three straight months. Industrial production benefited from a substantial rise in utilities, while housing has been disappointing. The Fed will be added deliberation at the Fed, as the FOMC statement is released today.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 12:13 on March 11, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of March 11, 2015 

    The jobs report was better than anticipated, increasing the possibility that the Fed will raise rates in June. Manufacturing and construction slowed, but the BLS has stated that this was largely the result of the strike on the West Coast. Employment has grown in lower-wage sectors faster than in high-rage sectors. Job openings have increased slightly while the quit rate, a good indicator for people’s perception of the economy, has been somewhat favorable.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 11:02 on March 4, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of March 04, 2015 

    The markets are being influenced by the year-on-year numbers. Headline inflation increased by only 0.2% in January over one year, providing the Fed doves with an argument to keep rates low. There is a consensus that the economy only created 230,000 nonfarm jobs in February. The US economy continues to grow despite weak growth from Europe and Asia, as no US sector, except for manufacturing, is significantly affected.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 16:39 on February 25, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of February 25, 2015 

    Fed Chairman Janet Yellen testified before Congress this week, and her comments suggest that the Fed is dissatisfied with the inflation rate and the labor market.  Wages are stagnant and the declining labor force participation rate, which increased slightly last month, has been primarily responsible for the improving unemployment rate.  Yellen made it clear that no one indicator will affect the Fed on when to raise interest rates.  Markets are expecting a raise in June or September.  The data in the manufacturing and service sector surveys suggest that the economy will grow at a modest pace over the next few quarters.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 10:38 on February 12, 2015 Permalink | Reply
    Tags: , , economy, ,   

    Economic Analysis – Week of February 11, 2015 

    January’s jobs report contained a number of positive elements. The payroll figures surpassed predictions, and the November and December numbers were revised up significantly. The labor-force participation rate rose as more workers are optimistic about finding a job in the economy. Job openings have continued to rise, but consumer confidence has been the biggest boost to the economy.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
  • Mike T 16:31 on February 4, 2015 Permalink | Reply
    Tags: , , economy, , ,   

    Economic Analysis – Week of February 4, 2015 

    Fourth-quarter GDP growth failed to meet expectations. The slowdown was likely a return to normal from the bounce that occurred during Q2 and Q3 after a weather-induced slump in Q1. Traders focused on the Fed’s statements that the economies of Europe and Asia will affect the decision to change monetary policy. Analysts anticipate a decrease in jobs growth to 230,000 in this Friday’s report, and there will be continued interest in wage growth and the labor force participation rate. The rising dollar does not appear to have much of an impact in the manufacturing report. Consumer spending has been solid, adjusting for gas price declines and volatility of motor-vehicle sales, and is responsible for the economy’s growth.

    More analysis of this week’s news by Econoday’s Senior Economist Mark Rogers:

    Econoday reports, available on TradingScreen’s award-winning TradeSmart EMS, provide alerts on upcoming economic announcements, and jargon-free analysis of their potential market impact. Mark Rogers, Senior Economist for U.S. markets, has over 19 years of experience with the Federal Reserve Bank of Atlanta as an economist and forecaster for national and regional economies.

    Click to learn about getting access to Econoday’s economic reports on TradingScreen.

     
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