Tag Archives: Initial Public Offering

“Dow Jones Approaches 4-Year High to Cap Quiet Trading Week”

17 Aug

 

Want to know who won the headlines battle?  Apple and Facebook were the only two players in the game today

Dow: 13,275 (+0.19%)        S&P 500: 1,418 (+0.19%)

All quiet on the Wall Street front.  As the MarketSnacks faithful know from our daily summaries, it’s been a slow summer week here on the trading floor with many investors mid-daiquiri in a poolside hammock.  But the twice-monthly Reuters/University of Michigan consumer sentiment index managed to get things going today and move the markets to their 6th straight weekly gain – consumer optimism rose in the first half of August despite expectations it would decline.  Apple and Facebook were the 2 big names making headlines (for opposite reasons & performances) as the Dow ticked up 25 points.  After weeks of sneaky steady increases in the 2nd half of the summer, the blue chip heavy index is now just shy of its 13,275 point 4-year high that was set on May 1st.

Facebook CEO finally acknowledges stock price free-fall, Apple hits another all-time high on iPad mini rumors 

Facebook (FB) dropped another 4% today as investors wonder if it’s really worth billions of billions of dollars. Mark Zuckerberg told his employees today that it’s been ”painful” to watch the stock drop 50% since the IPO in May.  Loads ofemployees have been given FB shares as compensation and others bought the stock post-IPO, pinning their shares to their breast pockets to fulfill the mandatory flair requirement.  But now they’re watching the value plummet and they’re pissed off, particularly since they’re barred from selling their stock for a few more months due to rules preventing insiders from selling too soon.  On the other side of Silicon Valley, Apple (AAPL) hit a new all-time high today at $648 on an analysis by boutique investment bank Jefferies & Co. that said the stock is worth $900/share.  The report estimated an iPhone 5 would be released in September and that a smaller iPad Mini was being developed to compete with lower priced Google (GOOG) and Amazon (AMZN) tablets.  These new products were promised by Jefferies to cause mass-swooning of hipsters from coast to coast to Brooklyn, to be dubbed “Apple-mania.”  FYI – Apple’s now worth $607 billion.

Over the Weekend:

  • PCs 4 Life! Dell and Hewlett-Packard report their second quarter earnings…they’re both expected to tank on poor PC sales

© 2012 MarketSnacks

 

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“Tech Stock Rally Propels Markets Up”

16 Aug
"Boy, those Cisco earnings are driving tech stocks up huge"

“Boy, those Cisco earnings are driving tech stocks up huge – just look at my HiDef computer screen”

Dow: 13,250 (+0.65%)        S&P 500: 1,416 (+0.71%)

It’s kind of like Revenge of the Nerds, but without the tasteful ’80s clothing – tech stocks, which have struggled as of late, rebounded & surged today.  Networking powerhouse Cisco (CSCO) reported better-than-expected earnings & revenues and a 75% increase in its quarterly dividend to 14 cents per share, lifting its peers and the tech-heavy NASDAQ stock index up 1%.  On the flip side, Walmart (WMT) lost 3% as sales declined last quarter and Facebook (FB) jumped into the headlines as insiders were finally eligible to sell-off shares.  US housing data was mixed and weekly jobless claims edged up slightly from the previous week, but a rise in building permits helped the Dow jump 85 points for its biggest gain in nearly 2 weeks.

July Building Permits rise, but Housing Starts ease

New building permits rose last month higher than expected, a signal of confidence to investors about future construction – after dipping in June, the number of building permits jumped nearly 7% in July.  Although the building data helped drive markets up, other econ reports weren’t so perky.  Housing starts, on the other hand, pulled the ol’ switcheroo with a reverse performance over the last two months compared to building permits – after advancing in June, construction on new residential buildings slipped 1% in July.  Investors focused on the glass-half-full side of the data following recent improvements in home-builder confidence this month.  The housing market isn’t anywhere near fixed, but economists believe this summer has started to experience a very modest up-trend.

Flood of new FB shares hit the market, causes 6% stock price dive

There are about 2.5 billion Facebook (FB) shares out there, but only 471 million were issued in the Initial Public Offering (IPO) in May.  It’s typical not to withhold the bulk of the shares from the public in an IPO, the world wasn’t ready for all of Facebook.  Many shares have a holding period when early investors cannot sell the stock in order to ensure that the owners continue to have the best interest of the company post IPO, and to create scarcity that should keep the stock price up.  Think about it – if Mark Zuckerberg had sold his entire 21% stake in FB on Day 1, he would have made ~$20 billion, but then who owns Facebook?  Investors need to know that the owners still have a stake in the company so new shares are periodically released to the public market in waves until May of next year (these are the rules – accept them). 

Today, another 250 million shares held by early investors (Bono, maybe) were eligible to be sold on the NASDAQ stock exchange (if we were Bono, we’d be tired of holding pieces of paper with “FB common stock” written on them – we’d prefer cash).  As FB shares sold-off, the stock dropped 6.2% to an all time low of $19.88.   Surely not all new shares were sold to the market today, but just the fact that 251 million shares could have been sold may have been a fear factor that contributed to today’s sell off in the market.  The number of FB shares traded today (i.e. the volume) was twice the average since the IPO.   Expect a super-sized version of today’s phenomenon on November 14th, when another 1.3 billion shares will be freed up – this is the first day that Zuck will finally be able to cash in on his FB investment. 

Tomorrow:

  • The preliminary Reuters/University of Michigan Consumer Sentiment poll for August
  • The 2nd quarter earnings season dwindles: Footlocker

© 2012 MarketSnacks

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“Markets Finish The Week Solidly Up On Good U.S. Deficit News”

10 Aug

Yes, Rocky and Apollo, celebrate. Wall Street managed to captured its 6th straight positive day.

Dow: 13,208 (+0.31%) S&P 500: 1,406 (+0.22%)

Oh ye of little faith. After a week of positivity like investors were walking on sunshine, it all looked like the streak was coming to an end today. China’s trade surplus fell from $31B to $25B in July when economists expected an increase, aggravating global slowdown concerns and keeping stocks down for most of the day. Then, in the twilight of Friday pre-weekend trading, markets shot north as the Dow finished up 43 points for its 4th gain of the week (6 straight for the S&P 500). Adding to the bright side, the Treasury Department reported that the federal budget deficit narrowed the first 10 months of the government’s fiscal year thanks to higher tax collections.

Soccer’s Manchester United IPO on NYSE finishes flat

Manchester United is a storied British football club, faithfully stewarded to unmatched success since 1986 by coach (and Sir) Alex Ferguson. It’s also the only soccer team that Americans can actually name (and they only know of it because their college roommate went abroad to London and came back “like, the biggest Man-U soccer fan ever, man”). Its finances, however, have been all over the place since the serial capitalist Glazer family bought the team in ’05 with their own money and a ton of debt. The thought of the Glazer purchase of the team is met with considerable disdain by Man U fans since huge interest payments on the debt load have burdened the team and limited its ability to get the best talent. The Glazers own a bunch of sports franchises (like the Tampa Bay Bucs), but are “going public” with Man U through today’s Initial Public Offering (IPO) of the team on the New York Stock Exchange – anyone can own “MANU” now. Investors usually look at IPOs to “pop” on trading excitement their 1st day, but expectations have been lower since the bungled Facebook (FB) IPO in May. And similar to a soccer game, there wasn’t much action today – MANU finished up less than 1% on the 1st day of trading, valuing the team at $2.3BN. The Glazer family is sitting happy, still holding half the shares of MANU worth a cool $1.15 BN.

Corn prices expected to rise additional 39% this year due to drought induced crop shortage.

The damage is done for the corn harvest this year. The pollination season is over and, due to the awful draught baking most of the nation this summer, the cornfields of the heartland were as celibate as a nunnery. The US Department of Agriculture cut its forecast of the corn harvest again today. Even though more corn was planted by farmers this year than any season in the past 75 years, the harvest will be the lowest since 1995. The government is also warning us to expect higher corn prices for the next year due to the reduced supply. Pricey corn will ripple through the economy to beef and poultry prices as the commodity is needed to feed the animals we eat – it even affects gasoline since the US government requires ethanol be mixed in to gas limit pollution. A whopping 60% of America is experiencing some sort of drought conditions, but it’s making 100% of farmers and popcorn guzzling movie-goers alike nervous.

Over the weekend:

  • Olympics closing ceremony on Sunday. Two things the MarketSnacks team won’t miss from the Olympics in London: the raw, uncensored male buttcrack and the seemingly photobooth-stretched faces of the male divers.

© 2012 MarketSnacks

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“Week in Review” – US MARKETS CLOSED FOR MEMORIAL DAY

28 May

May 21st – May 25th

US markets are closed for Memorial Day, so take a break from holding down the grill to look back on last week in all its glory.  Following the worst weekly performance in 6 months, markets were yanked up, down and sideways on European news. Like that sly kid at your high school who brought a 24-year old, partially-naked escort to prom, Greece has been getting all the attention at the European Leaders’ Summit “dance” – can Greece stay or is it getting kicked out? The mid-week meeting provided no specific solutions for how nearly-bankrupt Greece can stay in the Eurozone, but whispers & rumors resulted in abrupt stock movements. US economic data remained mixed, with “Existing Home Sales” beating expectations, yet “Weekly Jobless Claims” barely budged down, a slowdown in the improving jobs market. All eyes though were on Facebook’s struggles since their IPO, as investors sued them and investment bank Morgan Stanley for a misleading valuation and the Nasdaq stock exchange admitted botching many opening day FB trades.  News of credit downgrades and a government bailout to a slew of Spanish banks kept markets down on Friday, but the Dow did register its first overall weekly gain of May.

Click here for must-read long weekend articles and the economic calendar for the week ahead

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“American Markets Finish Close to Even After Euro Leaders Signal No Change”

23 May

“Peace, Greece?”

Dow 12,496 (-.05%)        S&P 1,319 (+.17%)

We’re not calling this ‘the perfect storm’ (there technically aren’t any meteorologists on the MarketSnacks team).  But it was clear today that investors were (to borrow a phrase from every British movie ever involving a boat in a storm) ‘battening down the hatches’ after waves of negative market news.  New Home Sales for April in the US did jump 3.3%, but disappointing corporate earnings from Dell hit tech stocks, new developments in Facebook’s botched IPO smacked bank stocks and, most of all, news from the political summit in Europe slammed Blue Chip stocks all morning.  The Dow had lost nearly 200 points by lunch, though after the European markets closed, stocks managed to claw back and finish down just 7 points.

No news is bad news at European Summit, European markets continue free-fall
 

The highly publicized European summit unsurprisingly produced no new strategy to fix the debt crisis.  In a post-meeting statement released by a poor messenger boy, the leaders said they were excited to see the new Greek government that will continue implementing austerity reforms.  Meanwhile the Greek Prime Minister said that exiting the Euro was a real possibility, which would sadly be a catastrophe for Greeks and much of the Eurozone.  At least the Greeks are facing reality because it seems the European leaders have their heads in the sand, causing Americans investors to wake up to a bloodbath in European markets, down about 2-3% today.  The value of the euro dropped to an unholy level not seen since July of 2010, $1.26.  Part two of this European summit happens this evening with a “European Dinner.”  A tip for the Greek Prime Minister – order the lobster and down as many Grey Goose martinis as you can – this is your last free meal at that table.

Dell quarterly corporate earnings disappoint, pull tech stocks down

Dell (DELL) 1st quarter earnings fell bellow expectations and provided a weak outlook on 2nd quarter revenues.  Shares got hammered, dropping 17% at the open, and stayed there all day (could this mean a revival of the circa ’98 “Dude Your Getting a Dell” guy spots?).  The negative news was like a tsunami hitting islands of tech stocks, as Intel (INTC) and Microsoft (MSFT) lost over 2% and Juniper (JNPR) over 4%.  Dell is considered a barometer for tech firms because it’s such a long-time, large-scale cornerstone of the industry, so its earnings have an impact.

Facebook and Morgan Stanley sued over IPO valuation issues

Facebook (FB) has been getting a paparazzi-level of attention over the last few days – after sliding 19% since Friday’s bungled initial public offering (IPO), shares finally finished positive today.  The newest development (we considered going with “status update,” but we’ll spare you) was a lawsuit.  As we reported yesterday, Morgan Stanley (MS), the investment bank that valued FB at a tech IPO record $105 billion, actually cut their estimates of its revenues just before its market debut.  So investors in Massachusetts and New York subpoenaed the social network today, along with Morgan Stanley and the other investment banks that prepared (or underwrote) the IPO, for misrepresenting what it was actually worth.

Tomorrow:

  • After finishing the day down, Hewlett-Packard (HPQ) announced earnings after the close that beat expectations following a restructuring package that includes laying-off 27,000 workers over the next few years – the stock is up in after-hours trading, but can momentum be sustained….
  • Facebook (FB) may have finished up today – but what will happen after today’s post-close report that the company is considering switching its stock to the New York Stock Exchange (NYSE) after Friday’s technical issues on the Nasdaq exchange….
  • “Weekly Jobless Claims,” the amount of Americans filing for unemployment, in the AM….

© 2012 MarketSnacks

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“Stocks Down Slightly After Yesterday’s Gains, Facebook Continues to Struggle”

22 May

“Markets were supposed to go up, sir, but something seems to have happened in the last hour of trading”

Dow 12,503 (-.01%)        S&P 1,317 (+.05%)

With the Dow Jones Industrial Average down over 6% this ugly May and ending negative every single day last week, yesterday’s positive finish was an overdue relief.  It’s really a shame that the warm feeling couldn’t last.  Despite adding 70 points in the morning on surprisingly positive US housing data, the Dow fell late in the afternoon to finish down 2 points as Greek concerns overwhelmed investors.  Ahead of tomorrow’s European political summit, Greek Prime Minister Lucas Papademos said Greece is quietly preparing for a possible exit from the Eurozone and, therefore, the euro currency, which dropped markets fast.  It’s Facebook though that continues to dominate headlines after the newborn public stock continues its awkward slide.

“Sales of Existing Homes” beats expectations, sends banks stocks up

The National Association of Realtors reported that “Sales of Existing Homes” popped 3.4% in April.  The solid result beat expectations and the average price of sold homes was 10% higher than April of 2011.  Not too shabby.  The news boosted enthusiasm among investors, who aggressively high-fived and bought up banks stocks, as Citi (C) and Bank of America (BAC) added over 2% and JP Morgan (JPM) jumped almost 5% after recent slides from last week’s $2 billion trading loss.  Economic data tends to have a significant influence on financial stocks because their businesses are so dependent on the health, growth and flows of the economy.

Facebook shares fall again following report on Morgan Stanley valuation

In just their third day of trading, Facebook (FB) shares dropped nearly 9%, another embarrassing development after yesterday’s 11% fall.  According to a report released today, the Morgan Stanley (MS) investment bankers who valued the company at a record (for a tech company) $105 billion, actually cut their estimates of FB’s revenues just before its market debut.  Morgan Stanley was the primary investment bank raising $16 billion for FB through an initial public offering (IPO), bringing the company’s shares to be sold in the open market for the first time.  The report supports many analysts’ criticisms before the IPO that Morgan Stanley was valuing Zuckerberg’s baby too much on its popularity and not enough on its financial fundamentals.

Tomorrow:

  • Even though it’s across the pond, tomorrow’s latest summit of European leaders’ is going to be all the rage – how will France’s new Socialist President Francois Hollande and German Chancellor Angela Merkel hit it off on the big stage?  Investors will be looking for specifics on how they plan on dealing with Greece and growth problems in Europe….

© 2012 MarketSnacks

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“Markets End Major Losing Streak, Facebook Drops After IPO”

21 May

“My associate here tells me that you sold us Facebook shares for $38 each. Is this true?”

Dow 12,505 (+1.09%)        S&P 1,316 (+1.60%)

Welcome back MarketSnacks Nation faithful.  Welcome back workweek.  Welcome back positive stock numbers.  Morale has been low here on Wall Street as of late….The Dow Jones Industrial Average took a full-on smacking recently, finishing down in 12 of the last 13 trading sessions – in fact, the 5 negative days last week resulted in its worst weekly performance in 6 months.  But like a tense slingshot slowly pulled back, the markets finally snapped forward today with an overdue 135 point gain following the weekend G-8 meeting.  All eyes though were really on Facebook (FB) as shares of the social-networking juggernaut stumbled on the first trading day after Friday’s initial public offering (IPO).

G-8 leaders vow to help Europe, China’s Premier aims to boost consumption

The “Group of Eight” conference in Chicago brings together the leaders of the largest countries to discuss global issues, similar to an All-Star game version of the classic Disney “It’s A Small World After All” ride.  On Saturday, the G-8 pledged to support keeping Greece in the euro, a major concern after the failure of the Greek government last week to agree on a unified policy for their debt crisis.  After some criticism though that the G-8′s plan was too ambiguous, the real boost today came from China, after Premier Wen promised to lower taxes to encourage spending and prevent a slowdown in the world’s second-largest economy.  China’s strong production-focused economy has been and will continue to be critical for sustaining global growth.

Facebook stock drops 11% on 2nd day of trading, Mark Zuckerberg’s fortune falls $2.2 billion

Mark Zuckerberg celebrated his company’s IPO by tying the knot with his longtime girlfriend over the weekend, and posted photos of the ceremony on his wall (though he has yet to change his status from “single” to “married”, also known as “Facebook-consummation”).  The markets had no mercy though for the newlywed as FB stock finished down 11% today.  The slide started Friday afternoon when it gradually fell from highs of $45, but was rescued when Morgan Stanley (MS) intervened in the market by buying shares to support the price and prevent what would have been an embarrassing negative first day of trading.  Without the support from the investment bank today, the stock was down 14% by midday.  MS is being blamed by critics for setting the IPO price too high at $38 and for supplying too many shares than were demanded by investors.  Early investors are ideally supposed to be rewarded by gains in the first days of trading, but instead each has lost almost $4 per share.  How do you test a marriage? Have the husband lose $2.2 billion of his wealth on his first workday.

Tomorrow:

  • The first round of a bunch of US housing data this week – Can “Existing Home Sales” from April give us back-to-back positive days for the first time in forever?
  • The “Organisation for Economic Cooperation and Development” (OECD) twice-yearly global outlook – a nice alternative perspective on how certain industrial countries are doing.

© 2012 MarketSnacks

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Your MarketSnacks “Week in Review”…Enjoy

20 May
May 14th - May 18th

May 14th – May 18th

It’s been a painful start to May and this past week’s 5-day stock slide was like tossing salt and  tequila on the market’s open wounds.  European political developments frustrated US investors as Greece moved closer to leaving the euro – Greeks withdrew billions from banks after their government failed to unify around a common policy, requiring new elections in June, and 16 Spanish financial institutions were downgraded. In the US, economic data came in unimpressively mixed, with an uptick in April industrial production while weekly jobless claims remained unchanged. And JP Morgan’s (JPM) $2 billion trading s**tstorm rained on as Chief Investment Officer Ina Drew was tossed to the curb and shareholders sued CEO Jamie Dimon for “misrepresenting JPM‘s risk.”  All eyes though were fixed on Friday’s $105 billion social-networking elephant in the room – but despite the insane level of hype, Facebook’s (FB) record IPO fizzled to an unimpressive 0.61% gain on its first day of trading.

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“Facebook IPO Disappoints As Markets Cap Worst Week of 2012″

18 May
"That whole IPO thing was supposed to be a lot more fun"

“This whole IPO thing was supposed to be a lot more fun”

Dow 12,369 (-.59%)        S&P 1,295 (-.74%)

After 5 straight depressingly negative days, Friday morning was the psychological break you, us, and every investor who ever owned a modem was waiting for – Facebook‘s record Initial Public Offering (IPO).  But if we read one more article that mentions “liking” Facebook stock or “poking” a broker to buy some shares, the MarketSnacks team will collectively jump in front of traffic.  The only thing bigger than the build-up to today’s Facebook-a-palooza was journalists’ frenzied effort to accumulate as many social-networking analogies as humanly possible.  Despite the hype, Facebook shares stumbled and continuing Eurozone concerns (16 key Spanish banks were downgraded yesterday) ultimately overwhelmed investors.  The Dow dropped 73 points for its 6th straight loss and worst weekly finish in years.

How did Facebook’s IPO get here?

Ahead of today’s Facebook (FB) stock fiesta/bar mitzvah, the $38/share price was set by wealthy investors and institutions yesterday who made bids for the stock over the last couple weeks and ultimately purchased existing shares from Zuckerberg, Goldman Sachs, Peter Thiel and other long-time Facebook investors.  Facebook went public, selling its shares on the open market for the first time through an initial public offering, in order to raise money.  By selling $16 billion worth of shares, Facebook raised more money in an IPO than General Motors (GM) in 2010 and just short of Visa’s (V) record for American companies in 2008.  The most important element of this valuation was how Facebook brought in just $3.7 billion in revenues last year – this eye-popping 88 P/E ratio (price per share divided by earnings per share) is a critical way to measure the value and hype of a stock.  Expectations were high….

What happened to Facebook’s IPO today?

Things got off to a rocky start.  IPOs often begin trading after stock markets open at 9:30am, but Facebook’s 11am scheduled start was delayed 40 minutes because the NASDAQ exchange struggled to match up the millions of buyers with sellers.  FB shares immediately  jumped 11% from the $38 offering price on the overwhelming demand, but that level of enthusiasm couldn’t be maintained – after reaching $45, the stock fell to its opening price.  FB never touched under $38 because the underwriters (the investment bankers who brought the company public) started buying the shares to prevent them turning negative, a potential black-eye on Facebook’s “first day of school.”  The lackluster performance influenced related companies like LinkedIn and Groupon (game developer Zyngawas even given the “mercy rule” and trading stopped after so many investors sold its shares) who got slammed.  Overall, Facebook’s modest finish may not be considered a huge success, but still set records for trading volume with over 571 million shares exchanged.

Why did this happen to Facebook stock?

Facebook’s uninspiring 23-cent debut today is not a reflection of what the company has accomplished, but is foremost a judgment about the potential for the site to make cash money.  Some doubt whether Zuckerberg and his circa ‘98 Adidas slip-on sandals have what it takes to be a bona fide corporate CEO.  Others question whether FB can rely only on advertising revenues (GM recently pulled millions for Facebook ads because it figured users preferred stalking ex’s over auto ad distractions).  And many simply believe that today’s record valuation was too enormous considering the company is so young.  These bearish thoughts may have moved the stock today, but with unprecedented access to 900 million users’ information, many still believe that FB will continue to revolutionize how ads reach customers.  Either way, this IPO raised $16 billion and Mark Zuckerberg is sitting on a bajillion dollars.

Next Week:

  • How will Facebook perform after the attention of its IPO is gone?
  • Spring Housing Data in the US….

© 2012 MarketSnacks

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“More Spanish Debt Issues Push Dow Down For Third Straight Day”

5 Apr

"Dude, just stay down and don't move until the government's employment report tomorrow."

Dow 13,060 (-.11%)        S&P 1,399 (-.06%)

The realization that the Federal Reserve plans no further policies to stimulate the economy was a right jab on Tuesday and a weak Spanish debt auction was a blowing body shot on Wednesday.  This morning, investors in Europe continued to sell their Spanish bonds to anyone daring enough to buy the risky assets and this news was an uppercut to fatigued American traders.  The Dow fell a measly 15 points on a mostly quiet Thursday as many investors ignored more good U.S. jobs data and threw in the towel before the long Good Friday weekend.  And the rest were simply looking ahead to tomorrow’s huge US government March employment report….

Weekly jobless claims fall to lowest level in 4 years ahead of Friday’s major employment report

The Labor Department reported that the amount of Americans filing for unemployment over the last week, or “jobless claims,” dropped by 6,000 applicants to reach 357,000 total, its lowest level since April 2008.  The number has been declining for six months and economists point out that claims consistently below the 400,000 mark are a sign that employers are firing less.  Today’s data though did little to move the markets as investors remain focused on tomorrow’s big ol’ monthly jobs train pulling into the station – the government’s official March employment report will detail the unemployment rate and how many new non-farm jobs were added.  Since the report comes out the first Friday of every month and Good Friday is dependent on cycles in the moon, tomorrow presents a unique situation in which the stock market will be closed when the major labor news is released.  Investors who are members of the futures market will have a 45-minute window only on the Chicago Mercantile Exchange to trade early in the morning right after the announcement….the rest of us will swallow the news and react on Monday.

Nasdaq wins Facebook over New York Stock Exchange

It’s a game of bragging rights and NASDAQ (NDAQ, +1.19%), the rival exchange to the New York Stock Exchange (NYX, -1.26%), won the recruiting battle for the golden Facebook stock listing.  When Facebook finally becomes a public company after its Initial Public Offering (IPO) this summer all of its shares will be traded on NASDAQ’s exchange under the ticker symbol “FB.”  Tech enthusiasts shook their heads upon hearing that Mark Zuckerburg did not stick it to the establishment with a comical symbol such as “POKE” or “LIKE.” NASDAQ is the home stock exchange of tech titans including Google, Apple, and soon Facebook.

Tomorrow:

  • The US stock market is closed for Good Friday; US bond market is open until noon.
  •  The all-critical, eagerly-anticipated, much-discussed government employment report for March.  MarketSnacks will have you covered….

© 2012 MarketSnacks

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