Nov
23
US stock investors stopped worrying about higher interest rates, at least for last week.
The major averages ended the week with gains of more than 3 percent. The SP 500 ended the week with gains of 3.27 percent, its best week since the one ended Oct. 24, 2014.
The Dow Jones industrial average closed about 91 points higher, off session highs of about 181 points.
“Maybe it’s just squaring up going into a long holiday week and taking some gains,” said Chris Gaffney, president, Everbank World Markets.
“Especially it’s somewhat upsetting — the market pretty much shrugging off all the terrorism. It’s a sign of the times. We know and expect there are going to be these kinds of events but they don’t necessarily impact the global economy anymore unless they’re significant,” Gaffney said. On “interest rates, we understand the Fed’s going to make a move but they’re going to remain accommodative pretty much all year.”
Analysts also attributed some of the late-session pullback and volatility to options expiration Friday.
The Dow closed flat for the year after briefly joining the SP 500 and Nasdaq composite in positive territory for 2015. The SP 500 and Nasdaq composite are up nearly 1.5 and 7.8 percent, respectively, for the year so far.
Equinix Inc. (NASDAQ:EQIX) rose 4.37% or 12.49 points on Friday and made its way into the gainers of the day. After trading began at $286.89 the stock was seen hitting $298.60 as a peak level and $286.30 as the lowest level. The stock ended up at $298.60. The daily volume was measured at 1.89 million shares. The company has a market cap of $17.88 billion. The mean estimate for the short term price target for EQIX stands at $318.07 according to 13 Analysts. The higher price target estimate for the stock has been calculated at $350.00 while the lower price target estimate is at $291.00. On Nov 2, 2015, the shares registered one year high at $304.73 and the one year low was seen on Feb 2, 2015. The 50-Day Moving Average price is $288.88 and the 200 Day Moving Average price is recorded at $274.44. Equinix Inc. (NASDAQ:EQIX) declared that it has priced an offering of $1.1 billion in aggregate principal amount of its 5.875% senior notes due 2026 (the “notes”). The offering is being made pursuant to an effective shelf registration statement (including a preliminary prospectus supplement and accompanying prospectus relating to the offering) on file with the Securities and Exchange Commission (the “SEC”). The offering is expected to close on December 4, 2015, subject to customary closing conditions.
For How Long EQIX will Fight for Profitability? Read This Trend Analysis report
Verisign Inc. (NASDAQ:VRSN) witnessed a rise in the market cap on Friday as its shares jumped 4.27% or 3.70 points. After the session commenced at $86.86, the stock reached the higher end at $90.80 while it hit a low of $86.76. With the volume soaring to 3.80 million shares, the last trade was called at $90.30. The company has a 52-week high of $90.80. The company has a market cap of $10.07 billion and there are 111.51 million shares in outstanding. The 52-week low of the share price is $53.48. VRSN has rose 33.17% during the last 3-month period. Year-to-Date the stock performance stands at 58.42%. The stock price is expected to reach $76.50 in the short term. The number of analysts agreeing with this consensus is 6. The higher estimate for the short term price target is at $90.00 while the lower estimate is at $50.00. On Nov 20, 2015, the shares registered one year high at $90.80 and the one year low was seen on Feb 2, 2015. The 50-Day Moving Average price is $79.19 and the 200 Day Moving Average price is recorded at $69.63. Verisign Inc. (NASDAQ:VRSN) reported revenue of $266 million for the third quarter of 2015, up 4.2 percent from the same quarter in 2014. Verisign reported net income of $92 million and diluted earnings per share of $0.70 for the third quarter of 2015, compared to net income of $95 million and diluted EPS of $0.69 for the same quarter in 2014. The operating margin was 58.1 percent for the third quarter of 2015 compared to 54.7 percent for the same quarter in 2014.
For How Long VRSN Gloss will Attract Investors ? Find out via this report
Grupo Financiero Galicia S.A. (ADR) (NASDAQ:GGAL) traded up 4.26% during trading on Friday, hitting $29.00. The stock had a trading volume of 1.50 million shares. The firm has a 50 day moving average of $23.42 and a 200-day moving average of $20.84. The stock has a market cap of $4.41 billion. GGAL has surged 55.73% during the last 3-month period. Year-to-Date the stock performance stands at 78.85%. The stock price is expected to reach $28.00 in the short term. The number of analysts agreeing with this consensus is 5. The higher estimate for the short term price target is at $40.00 while the lower estimate is at $16.00. On Nov 20, 2015, the shares registered one year high at $29.00 and the one year low was seen on Dec 16, 2014. Grupo Financiero Galicia S.A. (ADR) (NASDAQ:GGAL) operates as a financial services holding company in Argentina. The company operates through Banking, Regional Credit Cards, CFA Personal Loans, and Insurance segments. It offers financial products and services to large corporations, small and medium-sized companies, and individuals, including wholesale banking services; financial support and cash management services; foreign trade; corporate debt and securitization transactions; and e-solutions to various agencies, municipalities, and universities.
Will GGAL Continue To Move Higher? Find Out Her
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