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Re: uranium-pinto-beans post# 305649

Friday, 12/02/2016 12:33:33 PM

Friday, December 02, 2016 12:33:33 PM

Post# of 365639
Mid day market recap


Stocks opened with modest losses and have moved in a narrow range all morning, though the S&P and Nasdaq have managed to move into positive ground. The monthly jobs data, which typically evokes volatility, was generally in-line with expectations and hasn't been met with much market reaction. Oil prices recovered their early losses and are now higher by 0.5% near $51.35 per barrel. ECONOMIC NEWS: In the U.S., nonfarm payrolls rose 178,000 in November, which was very close to the 180,000 job consensus forecast. The unemployment rate dropped to 4.6% from 4.9%, the lowest since August 2007... President-elect Donald Trump announced he is establishing the President's Strategic and Policy Forum, which will be called upon to meet with the President frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs. The Forum will be chaired by Blackstone (BX) CEO Stephen Schwarzman and will include members such as General Motors (GM) CEO Marry Barra, JPMorgan (JPM) CEO Jamie Dimon, BlackRock (BLK) CEO Larry Fink, Disney (DIS) CEO Bob Iger, Wal-Mart (WMT) CEO Doug McMillon, and IBM (IBM) CEO Ginni Rometty. The first meeting of the Forum will be held at The White House during the first week of February. COMPANY NEWS: Starbucks (SBUX) announced that CEO Howard Schultz is stepping down and will be appointed executive chairman, shifting his focus to design and development of Starbucks Reserve Roasteries around the world. Kevin Johnson, president and chief operating officer and a 7-year member of the Starbucks board of directors, will assume the role and responsibilities of president and CEO, effective April 3, 2017. Shares of Starbucks are down about 2.5% near noon in the wake of the executive shake-up... Workday (WDAY) reported better than expected third quarter results, but guidance came in softer than expected. The company's cautious forecast, coupled with Workday's management comments during its earnings conference call, sparked a downgraded to Sell at Societe General and several price target cuts by Wall Street analysts. Following the announcement, shares of Workday have dropped about 13%... Ulta Beauty (ULTA) reported better than expected third quarter earnings per share and revenue, and raised its fourth quarter guidance. However, shares of the beauty store chain have dropped almost 1% near noon, after rising in after-hours trading immediately following the report yesterday. MAJOR MOVERS: Among the notable gainers was Pandora (P), which advanced about 8% after CNBC reported that the company is said to be open to selling itself and has expressed a willingness to engage in talks with longtime suitor SiriusXM (SIRI). Also higher was Ascena Retail (ASNA), which gained over 20% despite reporting worse than expected first quarter results. However, the owner of the ANN, Justice, and Lane Bryant brands backed its 2017 adjusted earnings per share and revenue view. Additionally, Five Below (FIVE) rose 12% after the discount retailer announced that its sales rose by 18% in the quarter compared to the same period a year ago. Among the noteworthy losers was Ambarella (AMBA), which fell over 10% after quarterly results. While the semiconductor maker beat both on the top and bottom lines, it provided disappointing guidance. Also lower after earnings was Smith & Wesson (SWHC), which dropped more than 10% after its second quarter earnings per share beat expectations, but the gunmaker's third quarter guidance came in below consensus estimates. Additionally, Allegheny Technologies (ATI) dropped about 9% after it suspended its quarterly dividend. INDEXES: Near midday, the Dow was down 22.57, or 0.12%, to 19,169.36, the Nasdaq was up 7.42, or 0.14%, to 5,258.53, and the S&P 500 was up 1.71, or 0.08%, to 2,192.79

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