Facebook Unlocked Shares, Vringo Awarded Damages From Google: Weekly Market Recap

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Here’s your Cheat Sheet to the top market moving headlines of the week:

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Monday

The markets closed up today on Wall Street:

S&P 500: +0.22%Nasdaq: +0.59%Dow: +0.15%Oil: +1.21%Gold: +0.51%.

On the commodities front, Oil (NYSE:USO) rose over a dollar to $85.89 per barrel. Precious metals were up, with Gold (NYSE:GLD) climbing to $1,684.10 per ounce, and Silver (NYSE:SLV) climbing to $31.18 per ounce, about 10 minutes after the bell.

Here’s your Cheat Sheet to Monday’s top stock stories:

Apple (NASDAQ:AAPL) said it sold a combined 3 million units of the iPad mini and the fourth-generation iPad over the devices’ debut weekend. However, supply issues continue to plague the company’s products as it added that demand for the smaller version of the tablet outdid supply.

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Netflix (NASDAQ:NFLX) said on Monday that its board of directors had adopted a shareholder rights plan, also known as a “poison pill,” that makes it harder for investors to acquire stakes in the company that cross certain thresholds. The plan is “intended to protect Netflix and its stockholders from efforts to obtain control of Netflix that the board of directors determines are not in the best interests of Netflix and its stockholders,” the company said. The news comes days after Carl Icahn bought a 9.98 percent stake in the company.

United Airlines (NYSE:UAL) completed its first flight of the Boeing (NYSE:BA) 787 Dreamliner on November 4th, with a successful trip from Houston to Chicago. United has received two out of the 50 Dreamliners it has ordered so far.

Top gainers include Vringo (AMEX:VRNG), which continued its wild ride and closed up over a dollar, and Tesla (NASDAQ:TSLA), which came off a positive earnings to close 8.93 percent higher.

Yelp (NYSE:YELP) was among the top losers, closing down 6.83 percent.

Facebook (NASDAQ:FB) made a complicated debut on the Nasdaq, with shares declining more than 20 percent in only two weeks. During the sell-off, mutual funds run by the banks that helped Facebook go public showed no confidence in the Mark Zuckerberg-led company. According to the WSJ, Securities and Exchange Commission disclosures and new data from investment-research firm Morningstar, the funds controlled by three major banks unloaded 3.5 million shares by the end of May. (Read more.)

Economic activity in the non-manufacturing sector grew in October for the 34th consecutive month. According to the industry report, the service index fell from 55.1 percent in September to 54.2 percent last month, missing analysts’ expectations of 54.5 percent.

Don’t Miss: United Airlines Gets a Sweet New Ride.

Tuesday

It’s election day, and the markets closed up on Wall Street:

S&P 500: +0.78%Nasdaq: +0.41%Dow: +1.02Gold: +2%Oil: +3.18%.

On the commodities front, Oil (NYSE:USO) rose to $88.37 per barrel. Precious metals were up, with Gold (NYSE:GLD) hitting $1,716.80 per ounce, and Silver (NYSE:SLV) climbing to $32.04 per ounce about ten minutes after the bell.

Here’s your Cheat Sheet to Tuesday’s top stock stories:Gavel

Technology firm Vringo (AMEX:VRNG) has been awarded $16 million in damages and a royalty on Google (NASDAQ:GOOG) search ad revenue through 2016 after winning its patent case against the search company on Tuesday. The firm will also receive $7.9 million from AOL, and $6.6 million from InterActiveCorp. Vringo closed down 10.63 percent, while Google wobbled down 0.18 percent at the close.

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The antitrust probe against Apple (NASDAQ:AAPL) and four book publishers will come to an end in Europe after regulators decided to accept a settlement offer made by the under-investigation companies. The decision will effectively hand Amazon (NASDAQ:AMZN) a victory in its attempt to sell e-books cheaper than its rivals, Reuters said. Amazon closed up 1.38 percent.

Shares of Zillow (NASDAQ:Z), the operator of the largest real estate information website, closed down 17.98 percent on Monday after the company forecast that fourth-quarter revenue would miss analysts’ expectations. The company still maintains its forward-looking focus.

Data and analytics provider CoreLogic has released a report indicating that home prices increased 5 percent in September compared to a year ago. This makes seven months in a row that prices have increased nationally on a year-over-year basis, suggesting that the housing market is on its way to a recovery.

Don’t Miss: Google Gets The Goliath Treatment From Vringo.

Wednesday:

Markets closed down today on Wall Street:

S&P 500: -2.37%Nasdaq: -2.48%Dow: -2.36%Oil: -4.61%Gold: +0.18%.

On the commodities front, Oil (NYSE:USO) dropped to $84.62 per barrel. Precious metals were mixed, with Gold (NYSE:GLD) climbing to $1,717.60 per ounce, and Silver (NYSE:SLV) falling to $31.83 per ounce about 10 minutes after the bell.

Here’s your Cheat Sheet to Wednesday’s top stock stories:

Iraq’s goal of producing 5 to 6 million barrels of oil per day by 2015 may be undermined by political tension. After weeks of speculation, Exxon Mobil (NYSE:XOM) has decided to pull out of a $50 billion oil project in the West Qurna-1 field, and pursue a relationship with Kurdistan.

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Following an investigation of AT&T’s (NYSE:T) data plan policy, the Federal Communications Commission determined that the wireless carrier must pay a “voluntary contribution” of $700,000 to the regulator and refund customers who were charged for more expensive monthly plans without their agreement.

James River Coal Company (NASDAQ:JRCC) closed down 30 percent after negative coal industry speculation was compounded by poor third-quarter results. Earnings came in at a net loss of $0.59 per diluted share, bringing losses for the first nine months of the year to $1.78 per diluted share.

A winter storm moving up the East Coast is threatening New York City and New Jersey shortly after hurricane Sandy devastated the region. Airlines such as United Continental (NYSE:UAL) have grounded flights in anticipation.

Agricultural product supplied Agrium (NYSE:AGU) closed down 10.8 percent after missing its bottom line for the third quarter. EPS came in 48 cents below estimates at $1.34 per share, while retail and wholesale volumes both dropped.

Don’t Miss: Here’s How Stocks and Treasuries Are Reacting to Obama Win.

Thursday

The markets closed down again on Wall Street:

S&P 500: -1.22%Nasdaq: -1.42%, Dow: -0.94%Oil: +0.68%Gold: +1.09%.

On the commodities front, Oil (NYSE:USO) rose to $85.01 per barrel. Precious metals were up, with Gold (NYSE:GLD) climbing to $1,732.70 per ounce, and Silver (NYSE:SLV) climbing to $32.40 per ounce, about five minutes before the bell.

Here’s your Cheat Sheet to Thursday’s top stock stories:

Initial jobless claims for the week ending November 3 were 355,000, a drop of 8,000 from the week before. The four-week moving average came in at 370,500, an increase of 3,250 from the week before.

McDonald’s (NYSE:MCD) closed down 1.99 percent after announcing that its global same-store sales fell 1.8 percent in October. The monthly same-store sales decline is the first in nine years, but was not unexpected. Analysts were predicting a drop of about 1 percent in global sales. Effects of the weak economy on sales have been compounded by competitive pressures.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

JPMorgan Chase (NYSE:JPM) reached an agreement with the U.S. Securities and Exchange Commission, settling two investigations the regulator was conducting into the bank’s home-loan business. JPMorgan also received approval by the Federal Reserve to reinstate a $3 billion share buyback next quarter.

With holiday spending only expected to rise 4.1 percent this year, according to the National Retail Federation, down from 5.6 percent growth in 2011, retailers are looking for new ways to draw in shoppers and get an edge on the competition. For its part, Wal-Mart (NYSE:WMT) will be kicking off its holiday sales earlier than ever before. Doors open at 8 p.m. on Thanksgiving.

Apple (NASDAQ:AAPL) continues to slide, closing down 3.72 percent. Apple is now down 9.49 percent over the last five trading days, and 15.73 percent over the last month. While bears may be cheering, some bulls aren’t sweating.

China’s once-in-a-decade leadership transition starts on Thursday in Beijing, and the rest of the world is waiting to see how things would change in the coming days in one of the most important economic powers in the world. China is now the world’s largest exporter, the second-biggest economy overall, and controls over $3.2 trillion in foreign exchange reserves.

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Friday

The markets closed up today on Wall Street:

S&P 500: +0.17%Nasdaq: +0.32%, Dow: +0.03%, Oil: +1.19%, Gold: +0.31%.

On the commodities front, Oil (NYSE:USO) rose to $86.10 per barrel. Precious metals were up with Gold (NYSE:GLD) climbing to $1,731.30 per ounce, and Silver (NYSE:SLV) climbing to $32.56 per ounce about 5 minutes after the bell.

Here’s your Cheat Sheet to Friday’s top stock stories:Stock Market

Facebook (NASDAQ:FB) unlocked 229 million shares for trading last week, and as many investors predicted, employees and executives decided to cash in. Shares have slid nearly 14 percent since October 24, once again closing below $20 on November 9. Notably, chief operating officer Sheryl Sandberg has pocketed over $11 million dollars in pre-arranged share sells.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Shares of J.C. Penney Company (NYSE:JCP) closed down 4.93 percent after reporting third-quarter results. Revenue fell a staggering 26.6 percent to $2.93 billion, but the company did manage to narrow its earnings loss to $0.56 per share, compared to $0.67 per share a year ago. This is the third consecutive quarter of losses for the retailer.

Ever since May, there’s been a $6.2 billion cloud hanging over JPMorgan’s (NYSE:JPM) head. However, CEO Jamie Dimon proves himself as a savvy a manager of risk as ever, this time curbing losses in his company’s share value with dividend hikes and massive share repurchases. On Thursday, the bank disclosed that regulators approved a buyback program of up to $3 billion, a step towards Dimon’s $15 billion buyback initiative he proposed in March.

Zipcar (NASDAQ:ZIP) had a strong day on the market, closing up 15.89 percent after posting third-quarter results that blew past analyst expectations. Meanwhile, Groupon (NASDAQ:GRPN) closed down 30.36 percent after its earnings release disappointed investors.

During European Central Bank President Mario Draghi’s news conference in Frankfurt on Thursday, he warned the 17 euro-based economies of the European Union that the currency still remained weak despite “improvements in investors’ confidence in the euro area.” However, Draghi expressed satisfaction at the region’s progress. He highlighted several factors indicating that the pressure on financial markets was lifting, including the return of United States money market funds to the region, and stated that the financial market confidence of the region had “visibly improved on the back of our decisions.”

“At the end of this year, we face a series of major decisions about how to pay our deficit down,” said President Barack Obama when he delivered a statement on the economy and the fiscal cliff on Friday afternoon.  Reiterating that he was reelected to take action, Obama will be speaking with leaders from both parties, including House Speaker John Boehner, next week in order to address the mounting problems.

Don’t Miss: Groupon Gets Clipped to New All-Time Lows.

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