Tag Archive: bac

A ton has happened over the past two days in the world of business. Yesterday wasn’t a very good day for the stock market as we saw declines in almost every sector. Today was a little different. New things were announced and overall, it was a good day.

The Dow Jones Industrial Average saw a gain of more than 143 points, or 1.3% after yesterday’s decline. It didn’t fully recover but hopefully it will get there soon. Currently the Dow sits in at 11,153 points.

The NASDAQ Composite saw an opposite motion. It saw a loss of just under 11 points. It’s not a big loss so it basically remained flat from yesterday but the 11 points adds on to the losses the Nasdaq incurred yesterday. The S&P 500 gained more than 9 points and the NYSE gained almost 98 points. So far, the markets haven’t recovered from yesterday’s drop but at least we saw gains today in most areas.

Gold also saw a decrease over the past two days. Since reporting last on Tuesday, gold price has dropped $34 and it is currently priced at $1,620 an ounce. Gold is going lower and lower and I think it will keep decreasing over the coming weeks and months. It is great to see the price decrease because it shows us that investors are putting their money in other places, perhaps places that will help our economy a lot more.

But what’s with the fire in the Amazon?

 

Amazon Fire Computer Tablet

AP Photo/Mark Lennihan

Relax, there is no fire in the Amazon rain forest, but there is a fire in the Amazon (AMZN) that we all know and love around the world. Yesterday Amazon gave us some great news which makes them even more ‘investment’ worthy. They announced the release of their new computer tablet, the Amazon Kindle Fire. The picture above gives you a glimpse of the pad. From the looks of it, it looks like another tablet that will cost us $500, right? Wrong!

The surprise comes in the price. Amazon (AMZN) expects to start selling the Kindle Fire at just $199. It has a 7″ screen which is smaller than the Apple iPad but it costs less than half of what you would pay for the iPad. Speaking of the iPad, the Kindle Fire is expected to compete with the iPad and from the looks of it, it looks like it will be a great match. The Kindle Fire is small, attractive, seems to be able to do a ton of things, and best of all, it’s much cheaper than the iPad, which makes it even more appealing.

I currently don’t own any tablet PCs, but this is something that I would not mind getting for myself. If I ever get it, I promise to post a personal review on Stocksicity. And because of this new announcement, investors have another reason to invest in Amazon. The Kindle Fire is scheduled to be launched on November 15, 2011 and you can pre-order on the Amazon.com website.

Amazon has great news but your banks may not. Bank of America (BAC) is the country’s biggest bank and earlier they announced that they will charge all customers a $5 fee for using their debit cards. This is one way Bank of America (BAC) will try to increase profits as new regulations come to effect.

Bank of America isn’t the bank trying this. JP Morgan Chase (JPM) and Wells Fargo (WFC) will be testing this out too by charging $3 a month. Other regional banks are trying the same to increase profits. It most definitely will not hold great with banking customers. I don’t know about you, but I hate paying fees for my bank. It’s enough that they use my money to lend others and charge huge interest while giving me a worthless 0.05% interest for my savings account, and I definitely don’t want them to charge me extra for using my debit card.

This might come back to either haunt the banks by driving away customers or work out great for them because they could end up making millions of dollars from the customers who don’t have a problem with this. But we will have to wait and see where things go after the new fees are put into effect.

Today was a very interesting day with news coming in from many sides. The Amazon Kindle Fire looks like a great piece of technology that could have a great impact. It’s something I am very much looking forward to.

What do you think about the Amazon Kindle Fire? Will you be getting it? What are you thoughts on the new Debit Card fees your bank may impose on you?

Unfortunately, the momentum from last week’s stock market rally did not carry over to this week. We start this week in the red after the stock market dives almost everywhere.  The dive comes after worries about Greece reemerges as people speculate that Greece will default. If they default, they will stop all payments to their lenders and stop making bond payments. It will hurt banks and it will send a shockwave throughout the Global Economy and we can most definitely look to seeing it in the US Markets.

I am hoping that this doesn’t happen because if it does, it’ll undo everything good that we have experienced last week (and perhaps more). The last thing we need right now is a country defaulting and sending stocks around the globe plummeting.

As for today, the Dow Jones dropped more than 108 points, sticking just over the 11,400 mark. The NASDAQ Composite dropped less than 10 points. You may think it’s not so bad, but it still dropped. The S&P 500 dropped almost 12 points while the NYSE dropped more than 113 points.

Today definitely was not a good day for the market, but we have seen worse. The markets were really down earlier today but the fact that it bounced back up a little shows that investors haven’t lost complete faith in Greece or the global economy. I believe that things will bounce back up. Like always, the market will fluctuate, there isn’t much that we can do, we can only try to predict but that’s harder than it sounds.

Out of the stocks hit hardest, the banking sector took a big hit today. Citigroup (C) dropped $1.28 per share or more than 4.4%. Bank of America (BAC) Dropped $0.24 or about 3.3%. JP Morgan Chase dropped more than 2.8% or $0.94 per share. The banking sector last week saw big gains and a lot of it has been undone in today’s fall. But not to worry, things will go back up as investors use this opportunity to buy low in order to sell high later in the future.

So What is Qwikster?

The Title asks the Question, what’s Qwikster?  Sounds like a service my Internet Service Provider provides that gives a speed boost. But no, it’s not that. Qwikster is Netflix’s (NFLX) new thing. Netflix earlier announced that they will be splitting up their service. Currently, you can stream movies over the internet and order DVDs by mail on the same plan. But now, you have to get them separately. If you only want DVD service, that’s when you go with Qwikster and if you want to stream your videos online, you sign up for Netflix.

Netflix Drops 7% on Monday September 19

by Yahoo! Finance

So how did this go for Netflix (NFLX) today? Not very well. The announcement sent Netflix stocks plummeting again. This time it dropped more than 7.3% or $11.44 per share today. It dropped another 1.77% or $2.55 per share in after hours trading. This drop sent Netflix dangerously close to its 52 week low of $140.02. Currently it’s price is $143.75 (not taking into account its drop after hours). This news will carry over into tomorrow and we can expect Netflix to see another drop in their stocks. They will most likely set a new 52 week low because investors are basically losing hope.

They have lost more than 50% of their market share in the past few months after announcing a change in pricing so what’s Netflix thinking?  They’ve lost about $8 billion after everything that has happened since their first announcement in July and it doesn’t look like they are done. I guess they are hoping people will adapt to their changes and come back to them in the future. I think they will get exactly what they want, but it will take some time. They have to allow people time to get  used to the changes.

Whatever happens, I still think that Netflix is a very strong stock and they will bounce back. As this stock which at one point was over $300 goes closer to $100, investors will look at this opportunity to buy low which should increase the stock prices. And as people get used to Netflix’s new prices and features and whatever Qwikster hopes to accomplish, I think they will start regaining subscribers and will still remain the top company in its field with ease.

Even if the stocks rallied today, Netflix would have gone down. And today wasn’t as bad as it could have been. I’m glad the losses were minimal and hopefully some good news comes out of Greece tomorrow. I know good news will send stocks rallying all over again and that’s exactly what we need in order to set aim for the 12,000 mark.

What are your thoughts on Netflix? What about Greece?

Stock Market's Rally For 4th Straight Day

by Idea go

The Stock Market rallied once again today seeing gains all over the world. The rally followed the ease of tension from Europe, more specifically, Greece. Today was definitely a great day for the stock market in most sectors. Not all stocks gained today, some lost pretty big, like the title suggest, Netflix lost huge. But overall, it was a great day. Today marked the 4th consecutive market day where the stock market went up. We still have one day left, we’ll have to see if we can keep the streak  up and have this week be “undefeated” in a way.

The Dow Jones Industrial Average saw a gain of more than 186 points, finishing at over 11,433. It is once again getting closer to the 12,000 mark that we have been going towards for weeks. Every time, something happens in Europe or Asia, or even here in the US that messes things up and sends the stock market hurdling downwards.

The NASDAQ Composite gained more than 34 points finishing at over 2,607. The S&P 500 gained more than 20 points finishing at over 1,209 points. And the NYSE gained almost 130 points, finishing at over 7,329.

In Europe, the DAX saw gains of over 168 points, which is more than a 3% increase. The CAC 40 gained over 96 points, more than 3.2% increase. And in Asia, we have the Nikkei gaining more than a 150 points.

The stock market rallied all over the world. But as the title points out, not every stock saw gains. Netflix saw huge losses of almost 20 percent after they reported losses in subscribers and their new increasing pricing. Netflix dropped almost $40 per share, which is more than 19% (market and after hours trading combined). Currently, Netflix is sitting at $169 per share. It is pretty close to its 52 week low of  $140.

Netflix (NFLX) is a strong stock in my opinion. I have kept my eye on it for years and unfortunately, I never invested in them. When I first laid my eyes on them, they were worth just over $50 a share. Then I watched the stock go up and up and up until it surpassed the $300 mark and I did regret not purchasing. I definitely didn’t know When the right time would be to invest in that stock.

Since Netflix (NFLX) is a strong stock, it will bounce back up just as quickly. Sure they may have lost a lot of subscribers, but the drop of 20% from the market price will attract investors who wants to buy low to sell high. The opposite can also happen, it could keep dropping because investors believe that Netflix will keep losing subscribers due to their new pricing. I don’t know what will happen, anything I say with any certainty will only be speculation.

The Banking sector today saw big gains. Citigroup (C) saw gains of more than 4.3% and Bank of America (BAC) saw gains of almost 4% itself. JP Morgan Chase (JPM) as well as Goldman Sachs (GS) saw gains of more than 3%.

The gains in the sectors allowed the stock markets to rally. Not all sectors went up easily, the Solar Energy sector went down for the most part but not too significantly today.

Today marked the 4th straight day of positive marketing. This could be a good sign for the future of the stock market. Lets hope that the momentum continues onto tomorrow and next week. We have seen enough red in the stock market this year and I believe it’s time to come out of the slump. As I said before, mentality can play a huge role in how the stock market does. So lets keep the positive thinking up as both investors and consumers and help the global economy out of its recession!

Feel free to share your thoughts on the rally that we have been seeing. Do you think it will last? Or do you think it will drop?

Market Down Graph

By Idea go

Monday, Tuesday, and Wednesday, the stock market rallied gaining several hundred points. Today, the market took a tumble, but the good news is, we’re still above the 11,000 mark with the Dow Jones. The market will go up and down throughout the week so this drop isn’t a big surprise. The stock market rallied for 3 days in a row and a small drop is OK. Let’s just hope that the downward trend doesn’t continue over to the next few days of trading.

The Bernanke announcement is supposed to take place tomorrow. This is one of the few factors that influenced the market to go down today. It’s not a bad thing, it just means that investors are being cautious with their investments. If the news announced tomorrow is good, we can expect to see the stock market rally even higher tomorrow and the coming week. I still believe that the market is recovering, even though it has been very slow so far.

We’ll see what happens with the speech tomorrow and I will try to post an update on the speech when I can. But now, let’s get to the numbers of the stock market for today.

The Dow Jones Industrial Average fell more than 171 points finishing off at 11,149. We’re still past the 11,000 mark and I believe that we can stay here for some time.

The NASDAQ Composite also dropped almost 2% or 48 points finishing at 2,419. The S&P 500 fell 18 points or just over 1.5% finishing at 1,159. And the New York Stock Exchange (NYSE) fell 123 points finishing at 7,149 for the day.

Not everything fell. The banking sector saw gains after Warren Buffet announced earlier that he will be lending Bank of America (BAC) $5 billion (from Berkshire Hathaway). As a result, some banks saw significant increases. These small increases also kept the overall stock market from dropping even lower than it has so far today. Bank of America (BAC) gained more than 9% in value today finishing at $7.65 per share. Citigroup (C) also shared benefits with an increase of 4.85% with an extra rise so far in after hours trading putting the stock just a few cents short of the $30 mark.

As mentioned yesterday, Apple stocks dropped after Steve Jobs announced his retirement. As predicted, the downward momentum of Apple carried onto today and the stock fell another $2.46, finishing at $373.45. It’s not over for Apple. As investors become more familiar with Tim Cook, I believe that Apple will bounce back. In fact, a lot of investors are saying that Apple stocks are on the ‘bullish’ side, which is very good.

I’ve mentioned Universal Display Corporation (PANL) a few times this week as I have been keeping my eye on it. And as also predicted for this stock, it has been going up and up. Today it increased more than 15% finishing off at $46.73. It’s even closer to it’s 52 week high of over $63. I don’t own any shares of Universal Display Corporation, but I wish that I did have the money to invest while it was a little lower just at the beginning of this week. I believe that the momentum will continue as investors put more money into the company and stock value rises. Eventually it may balance out as investors try to sell the stock high after buying it low.

So what’s happening to the price of gold?

Gold prices have been dropping all week long due to the rallying the stock market has been doing. But today, it saw an increase. Earlier today, Gold price was actually down. Around the same time yesterday, I reported that the price of gold was down to $1,758 an ounce. Right now, the price of gold is at $1,769. It gained roughly $11 from yesterday. This shows that some investors have been using the decrease of value of gold over the past few days to put more money into this gold bubble because they believe the price will go up. They may not be wrong, and if they are right, they could be in for big profits.

If the announcement by Bernanke tomorrow is good and it gives the American public hope for a better future, then we can expect the price of Gold go to down even more, and the investors who invested at $1,758 may regret it. But if the opposite happens, they could be very happy investors.

 

Today wasn’t the best day of the week for the stock market. But we still have one more market day to go and hopefully the stock market pulls back. I am hopeful that what Bernanke has to say in tomorrow’s announcement is positive and let’s hope that it’s the case. I don’t think America can afford to go down in another recession.

As I predicted at the end of last week, when the stock market goes down heavily in a short period of time, it’s due to bounce back to correct itself. The Stock Market today sees a small gain, unfortunately, the gain is very small.

The Dow Jones Industrial Average increased just 37 points at the closing bell, increasing to 10,854. It is still under the 11,000 mark. It actually saw the 11,000 mark today with a day high of 11,020. When it hit the 11,000 mark earlier today, it seemed as if the market will keep rallying, but tensions in the economy, especially in the financial sector, has brought things down.

The Nasdaq Composite only gained just over 3 points today. And the S&P 500 gained just 0.28 points.

But what about Gold?

The price of Gold Rallied once again reaching almost 1,900 points at today’s high. It balanced with a gain of about 45 points for a total of $1,889 an ounce. It’s incredible how quickly Gold has risen this year. Many are claiming that it’s just a bubble and that it will burst sooner or later. The price of Gold is increasing too high, too quickly and these claims may be correct. In fact, today, Gold has seen a huge drop earlier in the day. It dropped below $1,700 and for a moment, it seemed as if it’ll keep going down. But it rallied back up just as quick.

The following graph is provided by Yahoo! Finance. This shows the huge drop in Gold price earlier today, makes the whole graph look ‘V’ shaped. I would not be surprised if the price of Gold keeps going up and eventually hits $1,900 an ounce this week. I do believe that this is a bubble and that it will burst. But I also believe that this bubble is looking strong and sturdy and it may keep growing through the coming weeks.

Price of Gold Graph

Price of Gold Graph

The banking sector isn’t really helping the economy. Bank of America (BAC) dropped almost 8% today coming near it’s 52 week low of $6.31 per share. JP Morgan Chase (JPM) dropped 0.94 points or almost 2.75% for the day. JPM reached it’s 52 week low earlier today. Citigroup (C) dropped an almost 3% as well and just like Chase, it has reached its 52 week low earlier today.

Even with the Stock Market seeing Green overall, certain companies and stocks have limited just how well the stock market has done, or should have done today.

Some stocks that have helped the stock market go into the green include Hewlett Packard (HPQ) which increased 3.6% today, after dropping 20% at the end of last week. Universal Display Corporation (PANL) rallied 24.5% today. That is a huge jump for this stock going up to $34.76. This stock has been steadily dropping over the past few weeks and have turned around today. It’s still no where near it’s 52 week high of $63.58. They’re not too far off, if they can release some more good news in the coming weeks, they should be able to rally some more.

The market today has seen its ups and downs. Some stocks have made it very hard for the overall market to rally. But today, we saw a positive score on the stock market and it was a great feeling compared to the downward movement we’ve been seeing over the past few weeks. The price of gold has rallied once again and in my opinion, it will keep going up because gold seems to be the most reliable constant in terms of value. It started the year at $1,400 and it shows no signs of stopping. But if you are looking to invest in Gold, I would advise that you very carefully think about it because if they’re right, and it is a bubble, it could burst soon because the faster a bubble grows, the quicker it explodes.