Market Wrap: Green Mountain is Victorious; Auto Sales (Mostly) Rose in January; AMR Corp.'s Plans; Oh Yea, Facebook Filed an IPO

Article Stock Quotes (6) Comments (0)

Market wrap-up for February 1st

End of the Day: Dow Jones up 83.6 to 12,716.46; Nasdaq up 34.4 to 2,848.27; S&P 500 up 11.7 to 1,324.09

The following is a brief summary of events moving markets today:

• 845 million 'liked' this filing: Facebook (Nasdaq: FB)(NYSE: FB) filed for a $5 billion Initial Public Offering of its Common Stock. Underwriters are JPMorgan and Goldman Sachs. Other underwriters include BofA/Merrill Lynch, Barclays and Allen & Co.
  
  Facebook reported 845 million users, and 2.7 billion likes per day, or 3.2 likes/user.
  
  For more color, click here. For the filing, click here.
  
  
• Overall great job automakers!: Ford (NYSE: F) reported a 7 percent gain in U.S. sales during January, while General Motors (NYSE: GM) saw a 6 percent decline. Toyota sales rose 7.5 percent, and Honda (NYSE: HMC) saw an 8.8 percent pop.
  
  
• Think you had a rough Wednesday?: AMR Corp. (OTC: AAMRQ) said it would cut about 13,000 positions, terminate employee pension plans, and boost revs by about $1 billion per year.
  
  Other parts of the plan, revealed earlier today, call for about $2 billion of annual cost savings by 2017, retooling supplier contracts, and debt and aircraft lease restructuring.
  
  
• Aaannnddd delicious earnings, too? You shouldn't have: Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) reported sales of $1.158 billion and earnings of 60 cents in the quarter, thumping estimates. K-Cup sales increased 115 percent in the quarter, as both America and the world become more attentive and energized cup by fantastic cup. For more color on the quarter, click here.
  
  
• No deal for Greece again today. Amid promises of Greece capping talks with creditors on discounted debt deals, recent headlines Germany is looking for more concessions from Greece will probably delay the outcome for a few more days (hopefully not months).

Click here to go to Streetinsider's Full News Feed and never miss a beat!

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• NetApp (NTAP) Tops Q4 EPS by 1c; Boosts Buyback, Plans Job Cuts, Initiates Dividend
• UPDATE: Aruba Networks, Inc. (ARUN) Misses Q3 EPS by 4c, Guidance Light
• UPDATE: BofA/Merrill Lynch Upgrades J. C. Penney (JCP) to Neutral

Create E-mail Alert Related Categories

Market Check

Related Entities

JPMorgan, Merrill Lynch, Bank of America, Standard & Poor's, Barclays, Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?