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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2019
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2019
On Monday markets were closed for the Presidents Day holiday.
On Tuesday the housing market index for February rose 4 points to 62, in large part due to lower mortgage rates. President Trump spoke with reporters, saying that trade talks with China were going well and that the March deadline wasn’t a magical date. Markets rallied on optimism over trade, but lost most of the gains, ending little changed.
On Wednesday, the Federal Reserve released minutes from their last meeting, showing that although they regard the U.S. economy to be in good shape, they are concerned about slowing economic conditions in Europe, Mexico, Brazil, and China. The Fed also thought it was likely that they would cease rolling securities off their balance sheet sometime later this year. Markets rose slightly on the news.
On Thursday durable goods orders for December rose 1.2%, compared to the prior month’s .8% gain and jobless claims for the week ending February 16th fell 23,000 to 216,000. Existing home sales for January fell 1.2% to an annualized 4.94 million units, and the EIA petroleum status report for the week ending February 15th saw crude oil inventory rise 3.7 million barrels. Markets ended the day down slightly on disappointing economic data.
On Friday markets opened higher on continued optimism that a trade deal with China can be reached soon. Now let’s take a look at some stocks.
CVS Health Corporation (NYSE: CVS) announced on Wednesday, operating results for its fourth quarter and full year. CVS completed its $70 billion acquisition of Aetna and saw revenues increase 12.5% to $54.4 billion. The company’s shares fell to under $64.00 on Wednesday post announcement.
Domino’s Pizza, Inc. (NYSE: DPZ) saw its fourth quarter global retail sales increase 6.5% and had global net store growth of 560 stores, of which 125 were U.S. stores and 435 were international. Domino’s Pizza shares fell to as low as $250 on Thursday post announcement.
Roku Inc. (NASDAQ: ROKU) announced late Thursday, fourth quarter and fiscal year results. Total net revenue for the full year grew 45% year over year to $742 million. Platform revenue increased 85% year over year to $416 million. Roku shares climbed to $54 during after hours on Thursday.
The Trade Desk (NASDAQ: TTD) announced on Thursday, financial results for its fourth quarter and fiscal year, seeing revenue growth of 55% year-over-year. Fourth quarter revenue increased 56% to a record $160 million and 2018 gross spending on the platform was over $2.35 billion, a 51% increase from a year ago. The Trade Desk shares rose over 10% to $168 during after hours on Thursday.
Dropbox, Inc. (NASDAQ: DBX) announced on Thursday its financial results with total revenue increasing 23% to $375 million compared to the same period a year ago. Paying users increased to a total of 12.7 million compared to 11 million a year ago. Average revenue per paying user was $119.61 vs $113.38 a year ago.
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