All the Top Market-Moving Stories of the Week You Must Know
There’s no hiding the fact that when it comes to video entertainment, content is king. The battle for equitable access to content has already generated its fair share of lawsuits, and rising costs have already pushed millions of Americans away from traditional cable packages, which can cost as much as $100 per month, to digital video streaming services that cost less than $10. As a result, the video streaming services market is rapidly growing, and competition between the likes of Netflix (NASDAQ:NFLX) and Amazon (NASDAQ:AMZN) is heating up… (Read more.)
Since 1990, Royal Dutch Shell (NYSE:RDSA)(NYSE:RDSB) has been the custodian of the terms that govern the North Sea Brent crude market, and the oil and gas company used its status to rewrite the rules for the benchmark that prices billions of dollars of oil worldwide, sparking a debate over whether the benchmark was in need of a reform. In an amendment of its SUKO 90 contract terms and conditions, Shell announced Friday that it will begin requiring buyers to pay a premium for North Sea oil grades sold in the Brent Blend forward market… (Read more.)
Don’t Miss: 3 Reasons Why Facebook Will Outperform.
The markets were mixed on Tuesday. Earnings continued to come in strong on average, but there wasn’t enough love to go around and the Nasdaq missed out.
At the close: DJIA: +0.34%, S&P 500: +0.16%, NASDAQ: -0.17%.
On the commodities front, Oil (NYSE:USO) climbed 0.39 percent to $97.41 per barrel, rising in part due to an announcement by the U.S. Energy Information Administration indicating that a rapid increase in North American supply may not be enough to keep gasoline prices in check, as demand expectations were revised upward. Gas prices are expected to peak at $3.73 in May.
Precious metals were up, with Gold (NYSE:GLD) climbing 0.15 percent to $1,651.60 per ounce after hitting a five-week low on Monday. Silver (NYSE:SLV) gained 0.65 percent, rising to $31.11 per ounce. The yield on the 10-year T-Bill climbed 0.014 points to 1.978 percent.
Here’s your Cheat Sheet to the top stock stories:
Facebook (NASDAQ:FB) closed the day down 3.15 percent after getting hit with downgrades from analysts at Sanford Bernstein and BTIG. The downgrades followed a series of ratings revisions that came immediately following the company’s fourth-quarter and full-year earnings reports, which revealed that costs were escalating much faster than revenues… (Read more.)
Dell (NASDAQ:DELL) could be in for a long struggle to go private. CEO Michael Dell secured a $13.65 per share buyout deal, but the PC-maker’s largest shareholder — Southeastern Asset Management at an 8.44 percent stake — said it was looking for something closer to $24 per share… (Read more.)