ICYMI. Weekly Stock Market Recap. June 11-15, 2018
In case you missed this week market news and stock movers. Here is our weekly recap.
Monday U.S. stock trading higher ahead of President Trump and N.K leader Kim Jun Un summit in Singapore. Dow Jones finished with +5.78 points. SPY+0.14%, QQQ +0.27%, IWM +0.17% and IBB -0.12%.
- Rent-A-Center Inc (RCII)- review of strategic alternatives. Earnings report Q2 EPS 20c-30c Vs may not compare to consensus 5c. Revenue $640M-$660M vs $639.31M
- Starbucks (SBUX) and JPMorgan announce reward Visa prepaid card.
- Boston Scientific (BSX) spike on rumor Stryker made a takeover approach
- Fitbit (FIT) strong mover +14.65% on speculation chatter with GOOGL
Tuesday day after Singapore summit, Dow Jones -1.58%, SPY+0.15%, QQQ +0.53%, IBB +0.85%.
- Galmed Pharmaceuticals Ltd (GLMD) clinical result from Phase 2b ARREST study. Stock up 151.29% for the day
- Tesla Inc (TSLA) analyst at Keyban raises Tesla Q2 Model 3 delivery estimate to 30k from 20k.
- Idera Pharmaceuticals Inc (IDRA)- did not meet primary endpoints. The #BiotechCalculator predicted right on 1.8.18
- Restoration Hardware Holdings, Inc (RH) earnings report https://www.tradersfish.com/Earning/restoration-hardware
Wednesday FOMC mins fed hike rates by 0.25% and see two more increases by year-end. Dow Jones closed -119.53 points, SPY -0.32%, QQQ -0.01%, IWM -0.39%, IBB -0.38%. This is the first real down day for June.
- Time Warner Inc (TWX) Judges approves AT&T and Time Warner Merger
- Twenty-First Century Fox Inc (FOXA)- rumors bidding war between CMCS and DIS
- Enphase Energy Inc to acquire SunPower microinverter business for $25M
- Madrigal Pharmaceuticals Inc (MDGL) company weighing sale -Bloomberg
Thursday the European Central Bank will halt its bond-buying program by the end of this year. The U.S. retails sales climb in May to 0.8% vs 0.8% estimate. Nasdaq posts record close with a strong economy and tech rallies. Dow Jone closed -25.89 points, SPY +0.23%, QQQ +1.01%, IWM +0.54%, IBB +0.81%.
- Amazon.com (AMZN) price target raised to $2,000 at DA Davidson
- ETSY Inc (ETSY) revises FY18 guidance due to the updated fee structure
- Iqiyi Inc ADR (IQ- The "China of Netflix" stock continues to push higher after IPO slump. Investors are piggyback to (NFLX).
- Netflix Inc (NFLX) two days rallies after Goldman Sachs boost Price Target to $490 yesterday.
- Tesla Inc (TSLA)- CEO Elon Musk latest filing on June 13, buying 72,500 shares @ $343.78.
Friday the POTUS tariffs imposed $50 billion in Chinese good and in retaliation China with $34 billion worth of US goods. Dow Jones closed -84.83%, SPY -0.16%, IWM -0.04%, QQQ -0.35% and IBB -0.11%.
- Verastem Inc (VSTM) 7,166,666 common price at $6.00 per share. Stock up +17.03%
- Apple Inc (AAPL) announces a multiyear content partnership with Oprah Winfrey
- Global Blood Therapeutics (GBT) Phase 2a voxelotor data in the patient with sickle cell disease.Data are less impressive and stock down -14.88%.
- (GBT) The #BiotechCalculator predicted success for their HOPE in Part A, the study data by end of this quarter.
Happy Father's Day weekend to all the fathers out there.