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Market Update: Fifth Third Bancorp (NASDAQ: FITB), Citigroup (NYSE: C), Amazon (NASDAQ: AMZN), American International Group (NYSE: AIG)
Fifth Third Bancorp (NASDAQ: FITB) Raised to Buy Rating at Citigroup (NYSE: C). –Street Insider
With Cyber Monday helping generate traffic for online retailers, shares of firms like Amazon (NASDAQ: AMZN) and EBay (NASDAQ: EBAY) beat traditional retailers like Wal-Mart (NYSE: WMT) and Best Buy (NYSE: BBY). Even with almost 100 million shoppers expected to jump online, as opposed to last year’s 85 million, surveys still show that these shoppers will be on the lookout for bargains amidst a troubling economy. -Benzinga
Shares of American International Group (NYSE: AIG) gained in premarket trading today after the insurance…
1Dec2009 | Jutia Group | 1 comment | ContinuedMarket Update: Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM), General Electric (NYSE: GE), Amazon (NASDAQ: AMZN)
The dismantling of Citigroup (NYSE: C) continued yesterday as the banking company unveiled plans to spin off its Primerica Inc. life-insurance and mutual-fund sales unit. In a regulatory filing Thursday, Primerica laid out plans to sell shares of itself via an initial public offering of stock. Citigroup will pocket the proceeds from the IPO and said it will sell the remainder of its Primerica holdings "as soon as practicable" following the IPO. The move should help strengthen Citigroup’s capital buffers. –The Wall Street Journal
JPMorgan Chase (NYSE: JPM) found an unsettling fact buried in the books of…
Technology Rises and Buying Facebook: Google (NASDAQ: GOOG), Ebay (NASDAQ: EBAY), Mastercard (NYSE: MA), Amazon (NASDAQ: AMZN)
Technology stocks have done well this year. The Technology Select Sector SPDR (XLK) bottomed out in March and by late October was up more than 60%. Tech has performed better than any other sector year-to-date – up 33.7% as of Friday’s close.
Part of the tech gain is related to how new media companies are categorized. Some of the stocks that make up the sector probably don’t belong there. Companies like Google (NASDAQ: GOOG), Ebay (NASDAQ: EBAY), and Mastercard (NYSE: MA) are considered tech stocks. The first two inherited the space because they are more internet-based than other companies. However,…
4Nov2009 | Invest With An Edge | 2 comments | ContinuedStock Market Updates: CIT Group (NYSE: CIT), Amazon (NASDAQ: AMZN), Exelon (NYSE: EXC), Whirlpool (NYSE: WHR)
Amazon (NASDAQ: AMZN) shares were trading up over 14 percent in afterhours activity following the company’s reported earnings for the quarter that surged 68 percent from last year on the back of its hot new product, the Kindle e-reader. Amazon predicted revenue to come in between $8.125 billion and $9.125 billion, above the $8.1 billion that analysts had been expecting. The company’s net sales rose 28 percent to $5.45 billion, driven by strong growth in electronics and other merchandise, up 44 percent to $2.36 billion. Media sales (e.g. books and DVDs) grew 17 percent to $2.93 billion. –Daily Finance
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23Oct2009 | Jutia Group | 0 comments | ContinuedStock Headlines: Procter & Gamble Co. (NYSE: PG), American Express (NYSE: AXP), Amazon (NASDAQ: AMZN), Capital One (NYSE: COF)
Procter & Gamble Co. (NYSE: PG), the maker of Pampers diapers and Pantene shampoo, is in talks to buy part of the Sara Lee Corp. (NYSE: SLE) international household products unit, according to people familiar with the discussions. P&G is mainly interested in the division’s air-care business, which makes Ambi Pur air fresheners, said the people, who declined to be identified because the talks are private. Sara Lee prefers to find one buyer for the entire unit, which also includes insecticide and Kiwi shoe polish, they said. –Bloomberg
American Express (NYSE: AXP) is projected to report a 49% drop…
Market Updates: Bank of America Corp. (NYSE: BAC), Wal-Mart Stores Inc. (NYSE: WMT), Amazon (NASDAQ: AMZN), General Electric (NYSE: GE)
An online book special offered by Wal-Mart Stores Inc. (NYSE: WMT) is turning into a full-fledged price war with Amazon (NASDAQ: AMZN). Wal-Mart got things started Thursday, offering $10 prices on such upcoming hardcover releases as Sarah Palin’s “Going Rogue” and John Grisham’s “Ford County,” a cut of 60 percent or more from the regular cost. Wal-Mart will also offer free shipping. Amazon.com, the largest online bookseller, matched the $10 price, prompting Wal-Mart to take its offer to $9. By Friday morning, Amazon.com also had priced the books at $9. The price cuts come at a time when Seattle-based Amazon.com…
16Oct2009 | Jutia Group | 0 comments | Continued
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