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blasher

08/27/12 8:12 AM

#10336 RE: blasher #10335

Stocks ended last week on a high note, after Federal Reserve Chairman Ben Bernanke said the U.S. central bank has more tools, if needed, to stimulate the economy. Also, durable goods orders rose 4.2% in July, more than the 2.5% increases projected, on increased demand for airplanes and automobiles, but bookings softened in other sectors. German Chancellor Angela Merkel and Greek Prime Minister Antonis Samaras held talks, with both reportedly saying that they want Greece to remain in the euro zone and Merkel adding that Germany expects Greece “to stick to its commitments.” Amazon rose 1.88%, touching a new high, as the company unveiled an expanded deal with NBC Universal and as speculation about a new tablet continued. Autodesk plunged 15.6% after the co. missed revenue forecasts for the second quarter of fiscal 2013 and cut its outlook. Morgan Stanley gained 0.4% after a report in The Wall Street Journal that said the lead underwriter of Facebook’s initial public offering has considerable exposure to the social-networking company through equity investments by several of Morgan Stanley’s mutual funds. This week trading could get choppy as investors gear up for Ben Bernanke's closely watched annual speech at the meeting in Jackson Hole. The market will also be sorting through a batch of economic data, including reports on consumer confidence, pending home sales, personal income and spending, as well as Chicago area manufacturing and the Fed's beige book. Implied volatility inched lower on modest trading volumes.

blasher

08/30/12 8:40 AM

#10337 RE: blasher #10335

Stocks ended yesterday with slim gains, following early reports on U.S. economic growth and pending home sales. Pending home sales rose 2.4% in July, to their highest level in two years. GDP rose at a 1.7% annual rate from April through June, up from its prior estimate of 1.5%. The Federal Reserve's latest report showed regional economic activity gradually expanded in July and early August across the Fed’s 12 districts. But economic data not good enough to discount QE3, some analyst say. Tech stocks edged up, propelled by gains from social media-related stocks such as Yelp and Angie’s List. Yelp soared rose 22.5% as the lockup period expired for more than 52 million shares. Angie’s List added 13.2% after Oppenheimer raised its rating to outperform from perform. Google rose 1.6% following a media report, announcing the company was looking to sell the Motorola Mobility business unit that makes set-top boxes and other home-networking gear. Also, Samsung Electronics prepared to show off an updated version of its new, Android-based Galaxy Note smartphone at a conference in Germany. In the evening trade Pandora Media and TiVo rose 8.2% and5.4% respectively, after each company reported better-than-expected quarterly financial results. Implied volatility inched higher on light trading volumes.
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