Seeking Alpha
Flip Order
  • Today - Friday, May 29, 2015

  • 4:20 PM
    • Stocks closed lower on the heels on renewed worries about the lack of tangible progress toward a deal between Greece and its creditors and data that showed U.S. GDP shrinking in the first three months of the year.
    • Despite declines for the day and the week, the major averages posted solid gains for the month: Dow +1%, S&P +1.1%, Nasdaq +2.6%.
    • All 10 S&P sectors ended the day in negative territory, with industrials (-1%) lagging its peers; transport stocks struggled again, as displayed by the 0.8% drop in the Dow Jones Transports, which tumbled 2.2% for the week and 3.4% for the month.
    • Energy stocks ended just below the flat line even as crude oil jumped 4.5% to $60.26/bbl.
    • Investor participation was above-average thanks to end-of-the-month flows, as more than 1B shares changed hands at the NYSE floor.
    • Treasury prices rose as a weak reading on regional factory activity added fuel to typical month-end demand; the 10-year yield fell 3 bps at 2.10%, the lowest in three weeks.
    | 1 Comment
  • 2:12 PM
    • Humana (HUM +19.6%) surges following a WSJ report that it is exploring a potential sale after receiving indications of takeover interest, and has hired Goldman Sachs to help it explore a potential sale.
    • Sources say Aetna (AET +2.2%) and Cigna (CI +5.2%) are among companies that have held preliminary discussions with HUM.
    • HUM is one of five health insurers that bankers and analysts have long considered ripe for consolidating the industry, including AET, CI, UnitedHealth (UNH +1%) and Anthem (ANTM +2.6%).
    | 1 Comment
  • 10:20 AM
    • Three days after CEO Evan Spiegel stated the company plans to eventually go public, CNBC reports Snapchat plans to raise another $650M in private funding. New investors are said to include Alibaba (NYSE:BABA), Fidelity, York Capital, and Glade Brook Capital.
    • Bloomberg reported in March Alibaba is investing $200M in the ephemeral messaging platform at a $15B valuation - sharply above the ~$10B valuation Snapchat received just a couple months earlier.
    • Snapchat reportedly had 100M monthly active users as of last summer, and has begun monetizing its platform via ads. Spiegel also wants other revenue streams - other mobile messaging platforms such as WeChat and Line derive revenue from games, stickers, and payments/e-commerce. A video-publishing platform called Discover (supported by ESPN, CNN, and Vice) was launched in January.
    • Snapchat might be looking to strike while the iron is hot: While making his IPO comments, Spiegel predicted a tech investing "correction" would eventually happen, and that the current investment climate was fueled in part by low interest rates.
  • 8:52 AM
  • 8:31 AM
    | 1 Comment
  • 8:30 AM
    • GDP Q1 (first revision): -0.7% vs. -0.8% consensus, +0.2% initial estimate, +2.2% in Q4.
  • 7:01 AM
    | 1 Comment
  • 3:24 AM
    | Comment!
  • 2:39 AM
    • Switzerland's economy contracted the most since the financial crisis in Q1 as the strong franc took a toll on exports.
    • Gross domestic product fell by 0.2% in the first three months of 2015 compared to revised growth of 0.5% in the prior period.
    • The outlook for the economy suffered a blow in January when the Swiss National Bank removed its currency cap, causing the franc to rally 15% vs. the euro during the quarter.
    • ETFs: FXF, EWL, SWZ, FSZ
  • 2:19 AM
    • The Japanese economy limped into the second quarter, as household spending declined, people left the job market and the central bank's key inflation gauge registered zero.
    • Consumer prices excluding fresh food and effects of last year’s sales-tax increase were unchanged in April, while household spending unexpectedly fell 1.3%. Consumption has now been in decline for 13 straight months.
    • Weakness in the economy is raising the stakes for Prime Minister Shinzo Abe as efforts by the central bank fail to spur inflation. The yen has lost a quarter of its value against the dollar since the BOJ boosted asset purchases in April 2013, and fell this week to its lowest since 2002.
    • The Nikkei closed up 0.1% following the flurry of data, barely extending its winning streak to an 11th day.
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs