Post Market News: J.C. Penney, Amazon, Yahoo, Starbucks, Expedia

Post Market News: J.C. Penney, Amazon, Yahoo, Starbucks, Expedia

Post Market News

Stocks that were active in  U.S. trading on Friday were J.C. Penney Company, Inc. (NYSE:JCP),, Inc. (NASDAQ:AMZN), Yahoo! Inc. (NASDAQ:YHOO), Starbucks Corporation (NASDAQ:SBUX) and Expedia Inc (NASDAQ:EXPE).

Post Market News: J.C. Penney, Amazon, Yahoo, Starbucks, Expedia

Carlson Capital Thinks The SPAC Boom May Be Over [Q1 Letter]

Black DiamondCarlson Capital's Black Diamond Arbitrage Partners fund added 1.3% net fees in the first quarter of 2021, according to a copy of the firm's March 2021 investor update, which ValueWalk has been able to review. Q1 2021 hedge fund letters, conferences and more At the end of the quarter, merger arbitrage investments represented 89% of Read More

Market Levels

  • U.S.: Dow Jones: 14,712.55 (+0.08%), S&P 500: 1,582.27 (-0.18%), Nasdaq: 3,279.26 (-0.33%)
  • World Markets: Shanghai: 2,177.91 (-0.97%), Nikkei 225: 13,884.13 (-0.30%), Hang Seng Index: 22,547.71 (+0.65%), TSEC: 8,022.06 (0.00%), FTSE 100: 6,426.42 (-0.25%), EURO STOXX 50: 2,683.43 (-0.78%), BSE Sensex: 19,286.72 (-0.62%)
  • Metals: Gold: $1453.60 (-0.57%), Silver: $23.76 (-1.58%), Platinum: $1476.50 (+0.85%)
  • Currency: EUR/USD: 1.3027 (+0.08%), USD/JPY: 98.22 (-1.13%), GBP/USD: 1.5221 (-1.44%), USD/CAD: 1.0169 (-0.32%), USD/CNY: 6.1650 (-0.10%), AUD/USD: 1.0282 (-0.15%)
  • 10 year U.S. Treasury: 1.67% (-0.01), 30 year U.S. Treasury: 2.88% (-0.01)

Market And Economy Update

The stock markets ended mixed due to lower than expected GDP data. The Dow Jones Industrial Average was up 11.75 points to 14,712.55, the S&P 500 Index declined 2.93 points to 1,582.23 while Nasdaq fell 10.73 points to close the session at 3,279.26. Commerce Department data showed today that the U.S. GDP grew at 2.5 percent in the first quarter, lower than analysts’ estimate of 3 percent. It was the biggest increase in consumer spending but the defense budget cut had some impact on national GDP growth. Another study revealed that consumer confidence declined in April, indicating that consumers may not be able to keep spending at the same rate as tax increases hit their budgets.

Stocks In Focus

J.C. Penney Company, Inc. (NYSE:JCP)

Billionaire investor George Soros disclosed yesterday that he owns a 7.9 percent stake in the struggling retailer. It makes Soros the fourth largest shareholder of the company with about 17 million shares. Based on today’s closing price of $17, his investment is worth over $300 million. Shares jumped following the news. The stock soared 11.55 percent to close the session at $17 per share., Inc. (NASDAQ:AMZN)

The world’s largest online retailer announced first quarter earnings that handily beat Wall Street expectations. Amazon earned 18 cents a share on revenues of $16.07 billion. Though revenues were slightly below the consensus, earnings were far better than the 7 cents a share that analysts expected. However, the company posted downbeat guidance for the current quarter. Shares declined 7.24 percent to end the session at $254.81.

Yahoo! Inc. (NASDAQ:YHOO)

The digital media company announced that Fred Amoroso has resigned as the chairman of Yahoo, and he wouldn’t seek re-election to the board during the annual meeting of shareholders on June 25. Maynard Webb, Jr. has been appointed as the interim chairman until the annual meeting. Yahoo shares skidded 2.06 percent to close the session at $24.68 per share.

Starbucks Corporation (NASDAQ:SBUX)

The coffee chain reported second quarter earnings of 48 cents per share, in line with Wall Street expectations. However, its revenues of $3.56 billion were slightly below the consensus estimate of $3.59 billion. In addition, the company issued pessimistic guidance for the current quarter and the next. Shares were down 0.83 percent at the end of the trading at $60.

Expedia Inc (NASDAQ:EXPE)

The online travel company reported first quarter revenue of $1.01 billion with 25 cents in earnings, beating the consensus estimate of $968 million in revenues and 23 cents in EPS. Expedia reduced its organic growth outlook due to rising pressure from Hotwire, a discount travel website. However, the company reaffirmed its full year forecast. Shares declined 9.67 percent to close the session at $58.56 per share.

No posts to display