Market Wrap: Draghi Bullish on Improving Euro; Existing Home Sales Remain Robust; Egan-Jones Barred
Tweet
Share
E-mail
Get Alerts MSFT Hot Sheet
Price: $399.04 -2.45%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.8%
Revenue Growth %: +17.0%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.8%
Revenue Growth %: +17.0%
Join SI Premium – FREE
Market wrap-up for January 22nd
End of the Day: S&P 500 up 6.6 to 1,492.56; Dow Jones up 62.5 to 13,712.21; Nasdaq flat at 3,050.39
The following is a brief summary of events moving markets today:
* U.S. markets were aided in part by comments from European Central Bank (ECB) President Mario Draghi, who commented today the some of the "darkest clouds" over the euro are receding following evasive steps take last year to avert further debt issues. Commenting in Frankfurt today, Draghi reinforced his belief that the three-year running debt crisis may be over and that the 17-member European Union will be able to emerge from recession in sometime in the latter part of 2013.
* U.S. existing home sales hit multi-year highs for 2012 amid a drop in December. The National Association of Realtors sees 4.65 million homes being sold in 2012, an increase of 9.2 percent over 2011. For more on the numbers, click here.
* Microsoft (Nasdaq: MSFT) is said to be joining in the effort to take Dell, Inc. (Nasdaq: DELL) private. Silver Lake is leading the effort, which is expected to produce a bid of $23 billion to $25 billion for the PC giant. For more color on the chatter, click here.
* Ratings firm Egan-Jones got a taste of its own medicine today as the U.S. SEC took an "unprecedented" step and downgraded the firm. Well, downgraded in the sense that the SEC barred Egan-Jones for issuing ratings on certain securities.
The SEC put an 18-month ban on Egan-Jones rating mortgage-backed securities as well as bonds issued by U.S. states, local governments, or other countries.
* Lots of earnings happened today, from Verizon (NYSE: VZ), to Google (Nasdaq: GOOG), and IBM (NYSE: IBM). For more color on results, DISH) was said to be planning the closure of 300 additional Blockbuster locations in the U.S. The move will leave about 500 locations open, just under one-third the amount when Blockbuster was acquired by DISH two years ago for $226 million. Names like Netflix (Nasdaq: NFLX), Hulu, and Amazon (Nasdaq: AMZN) have eroded the need for brick-and-mortar locations. As recently as 2005, Blockbuster was operating 5,700 locations across the u.S.
* Following Verizon's report of selling 6.2 million Apple (Nasdaq: AAPL) iPhone devices, Topeka Capital analyst Brian White came out with a new unit sales number. White sees Apple shipping about 56 million of the smartphone for its fiscal first-quarter 2013. The number is significant given that analysts have been getting cautious on Apple amid component shipment cuts and a shaky start for the iPhone 5 last September.
For more from White, click here.
Click here to go to Streetinsider's Full News Feed and never miss a beat!
End of the Day: S&P 500 up 6.6 to 1,492.56; Dow Jones up 62.5 to 13,712.21; Nasdaq flat at 3,050.39
The following is a brief summary of events moving markets today:
* U.S. markets were aided in part by comments from European Central Bank (ECB) President Mario Draghi, who commented today the some of the "darkest clouds" over the euro are receding following evasive steps take last year to avert further debt issues. Commenting in Frankfurt today, Draghi reinforced his belief that the three-year running debt crisis may be over and that the 17-member European Union will be able to emerge from recession in sometime in the latter part of 2013.
* U.S. existing home sales hit multi-year highs for 2012 amid a drop in December. The National Association of Realtors sees 4.65 million homes being sold in 2012, an increase of 9.2 percent over 2011. For more on the numbers, click here.
* Microsoft (Nasdaq: MSFT) is said to be joining in the effort to take Dell, Inc. (Nasdaq: DELL) private. Silver Lake is leading the effort, which is expected to produce a bid of $23 billion to $25 billion for the PC giant. For more color on the chatter, click here.
* Ratings firm Egan-Jones got a taste of its own medicine today as the U.S. SEC took an "unprecedented" step and downgraded the firm. Well, downgraded in the sense that the SEC barred Egan-Jones for issuing ratings on certain securities.
The SEC put an 18-month ban on Egan-Jones rating mortgage-backed securities as well as bonds issued by U.S. states, local governments, or other countries.
* Lots of earnings happened today, from Verizon (NYSE: VZ), to Google (Nasdaq: GOOG), and IBM (NYSE: IBM). For more color on results, DISH) was said to be planning the closure of 300 additional Blockbuster locations in the U.S. The move will leave about 500 locations open, just under one-third the amount when Blockbuster was acquired by DISH two years ago for $226 million. Names like Netflix (Nasdaq: NFLX), Hulu, and Amazon (Nasdaq: AMZN) have eroded the need for brick-and-mortar locations. As recently as 2005, Blockbuster was operating 5,700 locations across the u.S.
* Following Verizon's report of selling 6.2 million Apple (Nasdaq: AAPL) iPhone devices, Topeka Capital analyst Brian White came out with a new unit sales number. White sees Apple shipping about 56 million of the smartphone for its fiscal first-quarter 2013. The number is significant given that analysts have been getting cautious on Apple amid component shipment cuts and a shaky start for the iPhone 5 last September.
For more from White, click here.
Click here to go to Streetinsider's Full News Feed and never miss a beat!
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gilead Sciences (GILD) Misses Q1 EPS by 288c
- GXO Logistics, Inc. (GXO) Prices $1.1B Notes Offering
- Business First Bancshares Inc. (BFST) to acquire Oakwood Bancshares
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Existing-Home Sales, Standard & Poor's, European Central Bank, Hulu, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
