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Market News

Location American Market News for 4 August 2015

Big Banks Charge Ahead With Cards

Wall Street Journal - 4 Aug 2015 00:01
Consumer demand for credit is rising while big banks lower their standards and raise credit limits.
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Shares of Etsy Inc. (NASDAQ:ETSY) plunged 14 percent Tuesday in extended-hours trading after the online crafts marketplace posted a wider-than-expected loss for the April-June quarter. The company also warned a strong U....
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New Rule to Lift Veil on Tax Breaks

Wall Street Journal - 4 Aug 2015 23:50
The Governmental Accounting Standards Board will require government officials to show the value of property, sales and income taxes that have been waived under agreements with companies or other taxpayers.
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Etsy Shares Tumble Despite Beating Estimates Etsy shares were tumbling Tuesday evening, even after the online marketplace for handmade and vintage goods beat top and bottom line estimates in its second quarter.
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North Korea's Private Finance: No Banks but Lots of Loans

Wall Street Journal - 4 Aug 2015 22:37
As unauthorized private commerce has bolstered North Koreans' incomes, an unregulated system of lending and currency exchange has also emerged in the reclusive country.
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Shire's Blind Test With Baxalta

Wall Street Journal - 4 Aug 2015 22:15
Shire is venturing into bigger, riskier deal making with its $31 billion unsolicited bid to buy U.S. biotech Baxalta.
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Tuesday Sector Laggards: Utilities, Technology & Communications In afternoon trading on Tuesday, Utilities stocks are the worst performing sector, showing a 1.6% loss. Within the sector, NRG Energy Inc (NYSE: NRG) and Entergy Corp. (NYSE: ETR) are two large stocks that are lagging, s...
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Need a $3 Million Home Loan? J.P. Morgan Just Made It Easier

Wall Street Journal - 4 Aug 2015 21:52
J.P. Morgan Chase is lowering the minimum down payment and credit score for some big mortgages, as lenders vie to cater to borrowers in the high-end housing market.
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Tuesday Sector Leaders: Materials, Consumer Products Looking at the sectors faring best as of midday Tuesday, shares of Materials companies are outperforming other sectors, higher by 0.2%. Within that group, Vulcan Materials Co (NYSE: VMC) and Martin Marietta Materials, In...
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Lockhart Says Fed 'Close' to Being Ready for Rate Rise

Wall Street Journal - 4 Aug 2015 21:33
Federal Reserve Bank of Atlanta President Dennis Lockhart said the economy is ready for the first increase in short-term rates in more than nine years and it would take a significant deterioration in the data to convince...
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Bharat Forge: strong exports propel operating performance Though the operating performance is better than the Street estimates, the 14% rise in revenue lagged some analyst forecasts
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The head of George Soros' investment firm is departing to start his own hedge-fund firm, according to an internal memo reviewed by The Wall Street Journal.
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Chesapeake Energy's Moody Shareholders

Wall Street Journal - 4 Aug 2015 20:25
The market's reaction to Chesapeake Energy's dividend cut has provided a buying opportunity and potentially makes the company attractive to an acquirer.
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Looking for downside in both
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U.S. stocks sank lower in afternoon trading Tuesday as shares of Apple Inc. (NASDAQ:AAPL), the world's most valuable company, dropped to a six-month low. Five out of the 10 Standard and Poor's 500 sectors traded lower, l...
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American International Group (AIG) declared a 124 percent increase in the quarterly dividend to $0.28 per share on AIG Common Stock, par value $2.50 per share. The dividend is payable on September 28, 2015, to stockholde...
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Tuesday's ETF with Unusual Volume: PRF

Forbes - 4 Aug 2015 19:47
The PowerShares FTSE RAFI US 1000 Portfolio ETF (PRF) is seeing unusually high volume in afternoon trading Tuesday, with over 398,000 shares traded versus three month average volume of about 143,000. Shares of PRF were o...
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Rio Tinto 1H 2015 Earnings Preview: Strong Production Volume & Cost Reduction Initiatives In Focus We expect a sharp drop in commodity prices over the last twelve months, particularly iron ore prices, to negatively impact the results of Rio Tinto, a diversified mining company and the world's second largest iron ore pr...
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For the second quarter of 2015, we expect the company to continue to benefit from its high order backlog in North America. However, the company has guided for a decline of 0-2% (constant currency) in overall revenues for...
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Tuesday's ETF Movers: GDXJ, XLU

Forbes - 4 Aug 2015 19:45
In trading on Tuesday, the Junior Gold Miners ETF (GDXJ) is outperforming other ETFs, up about 1.3% on the day. Components of that ETF showing particular strength include shares of DRDGOLD (DRD), up about 6.1% and shares...
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In trading on Tuesday, general contractors & builders shares were relative laggards, down on the day by about 2.3%. Helping drag down the group were shares of Hovnanian Enterprises (HOV), off about 7.3% and shares of Bea...
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Over the next few years, we expect ESPN's revenues to grow, primarily on higher advertising sales and subscriber growth. However, EPSN has been spending heavily on acquiring programming rights and it has weighed on the n...
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