Tag Archive: sprint

Stocks Rally For Columbus Day

Stocks Rally on Columbus Day

by Danilo Rizzuti

Today turned out to be a great start of the week. The stock market rallied like there was no tomorrow. Most stocks saw decent gains, although some did see drops due to bad news. The rally came after France and Germany pledged to come up with a plan to help the banks of the region. Only the pledge has been made so far, I can’t wait to see what they have planned to help Europe get out of the economic depression. I also hope that they do something soon.

The Dow Jones gained almost 3%, or 330 points today. The Dow finished off at over 11,433. We are back where we were about two or three weeks ago. It’s almost as if we didn’t really go anywhere. But at least we are not where we were last week, about 400 points below the 11,000 mark.

The NASDAQ Composite gained 3.5% or 86 points. Finishing off at 2,566. The S&P 500 gained 39 points, or 3.4% finishing off at 1,194. And the NYSE gained over 247 points or 3.58%. The NYSE Finished off at 7,173, finally over the 7,100 mark once again.

Apple (AAPL) is one of the stocks to have seen a decent gain today. Apple stocks rose more than 5.1% today, or just over $19 a share. Apple is slowly bouncing back after the slight drop it saw after the passing of its co-founder, Steve Jobs last Wednesday.

But not all stocks saw gains. Sprint (S) is still in trouble. It reached a new 52 week low today at $2.10 per share. It dropped almost another 8% today after dropping several percentage points at the end of the last market week. Hopefully Sprint bounces back and it most likely will. Sprint stocks are very cheap now and investors could use this opportunity to buy low.

Netflix (NFLX) is another stock that is still suffering. Even after they announced scraping the plans for Qwikster, which was supposed to separate the DVD rental and Online streaming services from Netflix. Netflix Stocks dropped another 4.77%, or $5.59 a share. Currently, Netflix costs just $111.62, almost $200 a share below it’s 52-week high just a few months go.

And the last stock mention of the day is Eastman Kodak (EK). Kodak has had issues recently and at one point, their stocks were worth almost $0.50 each. Now they are holding steady at around $1.40. I still think that Kodak will pull out and become one of the great stocks that it used to be. Investors who are putting their money into the company now will probably benefit the most.

Today was a great day for the stock market. Lets hope that the momentum continues to tomorrow. This momentum push could help us get to the aimed 12,000 mark with the Dow very soon. I know the market is very volatile now and investors could start selling tomorrow to cash in on today’s rally, hopefully that doesn’t happen and investors keep investing. I also hope that more good news keep coming out of the global economy.

I hope you enjoyed Columbus Day. And if you are in Canada, Happy Thanksgiving To You!

Jobs Data sends stock market to finish lower

by Jeroen van Oostrom

Earlier today, the US Jobs Data was released for September 2011. We needed some good news after the terrible job report from August which didn’t create any jobs at all. For September, everyone expected around 50,000 jobs to be created. But the report was better than expected.

The report stated that 103,000 jobs were created in September. Sure you may think that it’s great, but a large portion of the number is Verizon workers going back to work in September after the strike that we saw over the summer. This is actually not great news. It’s decent news that we are actually creating jobs in the economy, but it’s no where close to getting us out of the high unemployment rate that we seem to be stuck on.

August 2011′s job data was also revised. The number went from 0 jobs created to 57,000 jobs created. Although that’s good news, it’s still no where close to getting us out of the 9.1% unemployment rate that we have been stuck on for months.

The Congressional Budget Office is predicting that the number will get better by the end of the Fourth Quarter of 2011. They are expecting it to drop to 8.9%. It’s not a huge drop but still, it’s below 9%, something we haven’t seen for a very long time.

This will be a big challenge for President Obama when it comes to his reelection. By the 2012 elections, the unemployment rate will still be very high, estimated to be around 8.5%. If President Obama is reelected, it will be pretty historical because it has never been done while the unemployment rate is so high. But we will have to see how things go. If things start turning around this quarter or the beginning of 2012, President Obama may have a good chance of being reelected. But it’s still to early to assume anything.

You would expect the stock market to do some rallying after the better than expected jobs data earlier today. But it wasn’t the case. The mixed jobs report actually sent the stocks finishing lower than yesterday. The economy in Italy and Spain were also downgraded today which added to the reasons for the drop today.

Today, the Dow Jones dropped 20 points, finishing at just over the 11,103 mark. The NASDAQ Composite lost over 27 points finishing at 2,479. The S&P 500 dropped just over 9.5 points, finishing at 1,155. And the NYSE dropped more than 71 points, finishing at 6,925.

Apple recently announced it’s iPhone 4s. But the death of Steve Jobs has left a small impact on the value of the Apple (AAPL) stock.  The value of Apple dropped just over 2% or $7.57 a share. it’s not a big drop and they will bounce back soon. Because of Steve Jobs, Apple is one of the strongest companies in the world and it won’t be going anywhere. It is the legacy Steve Jobs left behind and it will be around for a while. So right now, the 2% drop means nothing for its future.

Sprint (S) suffered a huge loss after announcing financial issues. They dropped nearly 20% today, or $0.60 per share. They finished at $2.41 a share.

Clearwire Corporation (CLWR) suffered a bigger loss when Sprint announced that they will no longer be selling phones that work on the Clearwire network. Their stocks dropped $0.66 per share, or 32%.  And MetroPCS Communications (PCS) also suffered a loss of 7.8% or $0.67 per share finishing at $7.93.

The telecommunication industry took a pretty big hit today. But this would also be a great opportunity for investors to jump in to buy these stocks at a low price. If that happens, it should send all three stocks back up. I believe that we need Sprint to stick around to be able to compete with the two big names of AT&T (T) and Verizon (VZ).

Today was the end of the first week of the last quarter. We are finally back over the 11,000 mark with the Dow thanks to three days of rallying. Although the jobs data today wasn’t great, it was still better than expected. I hope that things do turn out better in the near future. We already have Greece in trouble, hopefully Italy and Spain won’t go the same way.

AT&T and T-Mobile Merger Stopped

By digitalart

AT&T’s plan for Global Domination has been stopped by the Justice Department earlier today. Global Domination may be over exaggerating but the merger with T-Mobile would make AT&T the largest cell phone service provider in the United States. AT&T is currently the number 2 provider while T-Mobile stands in at Number 4. The deal has been discussed for some time now and it has had a lot of opposition from rival companies to individuals who wouldn’t want to see another oligopoly set up because it would spike up prices for all of our wireless bills.

I am glad the Justice Department blocked the merger. It would have meant far less competition and it could have turned out to be a huge burden on the consumers. T-Mobile was looking forward to the merger because they have struggled at the number 4 position, behind Sprint at Number 3 and Verizon at Number 1. However, AT&T promised T-Mobile $3 billion in case the deal fell through. Hopefully AT&T keeps their word and pays T-Mobile so that T-Mobile can keep competing with the big names.

AT&T may also challenge the actions of the Justice Department in court in hopes that a Judge would reverse the decision and allow them to go forward with the merger. I hope that they don’t proceed with the case and even if they do, I hope whatever Judge they get deny their request. Giving AT&T more power is a bad idea. They have tried to set up a monopoly years ago but it was stopped and this deal needs to be thrown out.

After the news came in of the merger blog, AT&T (T) stocks fell 4.5% to $28.30 a share. Sprint (S) stocks on the other hand, increased 8% to $3.84 per share. And Clearwire Corporation (CLWR) also grew 7% and is now at $3.08. AT&T Stocks will most likely stay in the red for the rest of the day because of the bad news. But just like Apple (AAPL), AT&T is a big enough company to bounce back just as quickly. I will follow the news of AT&T and T-Mobile as they come in over the next few days, let’s hope it’s good news. If anything, some of the big companies need to be split up into smaller companies to increase competition. It would be great for the consumers if they have more than a few choices for their wireless plans because it would drive prices down greatly.

But it’s unlikely that these companies will be split up every more. We’ll have to look at the rest of the stock market world for hopes to making and saving money.

So what’s going on with the stock market besides the blockage of AT&T and T-Mobile?

As predicted over the past few days, the momentum of the stock market has kept up. So far today, the Dow Jones Industrial Average increased another 92 points and is currently standing at 11,652. The NASDAQ Composite so far grew more than 13 points and is at 2,589. The S&P 500 grew more than 11 points and the NYSE grew more than 96 points so far.

The day isn’t over yet, anything can happen. But I believe the stock market will stay in the green mainly because consumers and investors are hoping for a new Federal Stimulus in the near future. Even though the economy is slowly growing, it’s still weak. Many investors are hoping for the stimulus from the Federal Reserve even though Fed Chairman Ben Bernanke didn’t signal or indicate that there will be another stimulus coming our way.

Either way, the stock markets seem to be benefiting for now. I don’t know if the Stimulus will actually help the economy in the long run. The government has to get the money somewhere and just printing money without backing by resources would just lower the value and end up having a negative effect and could cause inflation to rise faster. I know some are saying that the government already has the money and that it will most definitely help, but I guess I will be convinced when I see it.

Until more news comes out, I believe it will keep going up and the Dow Jones will get closer to the magic 12,000 mark that we haven’t seen for a while. The market will most likely stay in the green for the rest of the day and hopefully the rest of the week.