First Global Credit Stock News Roundup – 13th August

First Global Credit Stock News Roundup – 13th August


The latest news round up for trade-able items on the First Global Credit platform, covering:

  • Bitcoin
  • Cisco Systems
  • Gold
  • Google
  • Netflix
  • Oracle
  • S&P 500



Foreign currency prices have an intimate impact on financial markets and this week, China’s yuan devaluation came as a reminder of how fragile the Chinese economy is at the moment.  A significant financial crisis is developing in the country; it seems that the model of economic growth has reached its natural end.

Similar to what happened in Greece, Chinese citizens seem to be buying bitcoin in order to preserve the value of their cash. Many already perceive the unexpectedly sharp devaluation of China’s yuan as an opportunity for bitcoin.

As the dollar and yuan move further apart, bitcoin could become a middleman for yuan holders looking to hedge their Investments. If bitcoin continues to rise, traders can change their cash back into yuan to turn a profit. On the other hand, if the cryptocurrency loses value, they can change it again into U.S. dollars, which are on the rise against the yuan.

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Cisco Systems, Inc (NASDAQ:CSCO)

Cisco Systems, Inc. (NASDAQ:CSCO)’s recent earnings increase eased a tad in its latest quarter, but outcomes showed the networking-equipment large new company strategies are starting to take root.

Shares of Cisco climbed 4.05% in after-hours trading to $US28.96.The San Jose, California-based company on Wednesday said net income increased 3.2 per cent in its fiscal fourth-quarter ended July 25, while sales grew 3.9 percent. The results of Cisco topped expectations, along with the firm forecasted outcomes for the present quarter consistent with Wall Street estimates.

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Gold declined, ending its longest run of gains in almost three months, as China eased concern about a devaluation of its currency. Silver and palladium dropped.

The People’s Bank of China said it supports a strong, stable yuan in the long term after its Tuesday decision to devalue the yuan roiled global markets and sparked concern that more countries will weaken their currencies. The metal rose the previous five days.

Gold for immediate delivery lost 0.6 percent to $1,117.41 an ounce by 11:22 a.m. in London, according to Bloomberg generic pricing. Prices gained 3.6 in the past five days and reached a three-week high earlier Thursday. Futures for December delivery declined 0.6 percent to $1,117.10 on the Comex in New York.

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Google, Inc (NASDAQ:GOOGL)

Google (NASDAQ:GOOGL)‘s stock had its “buy” rating reaffirmed by MKM Partners in a note issued to investors on Wednesday. They presently have an $805.00 price objective on the stock. MKM Partners’ price target would suggest a potential upside of 16.62% from the company’s previous close.

Other research analysts also recently issued reports about the company. Macquarie restated an “outperform” rating and issued a $750.00 price target on shares of Google in a research note on Wednesday. Evercore ISI reaffirmed a “buy” rating and set an $800.00 price objective on shares of Google in a report on Wednesday. Goldman Sachs restated a “neutral” rating on shares of Google in a report on Wednesday. Argus reiterated a “buy” rating and issued a $690.30 target price (down previously from $850.00) on shares of Google in a research note on Wednesday. Finally, Axiom Securities reissued a “buy” rating and set an $850.00 price target on shares of Google in a research report on Wednesday.

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Netflix, Inc. (NASDAQ:NFLX) surged 0.33% during the last session. The last traded price was up 0.4 points at $123.43. The data for the fund flow suggests that the net intraday money flow was $(-13.81) million. The fund value in upticks was recorded to be $65.91 million and in downticks, it was found to be $79.72 million. The up/down ratio for the day was measured to be 0.83. For the week, the shares have seen a percentage change of -0.07%.A block trade of $(-14.66) million in net money flow was also recorded during the day. For the block, the combined worth of upticks was $0 million and that of downticks was $14.66 million.

The company shares have rallied 92.92% in the past 52 Weeks. On August 5, 2015 the shares registered one year high of $129.29 and one year low was seen on December 17, 2014 at $45.08. The 50-day moving average is $105.38 and the 200 day moving average is recorded at $81.95. S&P 500 has rallied 8.81% during the last 52-weeks.

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Oracle Corporation (NYSE:ORCL)

Shares of Oracle Corporation (NYSE:ORCL) advanced to $39.28. The price had gained 0.28% or 0.11 points intraday. The latest trading session witnessed $39.62 million in upticks and $66.57 million in downticks, resulting in net money flow of (-26.95) million. The up/down ratio for the day stood at 0.6.

The company has received recommendation from many analysts. 6 analysts have rated the company as a strong buy. The shares have been rated as hold from 15 Wall Street Analysts. 14 analysts have suggested buy for the company. Underperform rating was given by 3 analyst. According to the last rating, Brokerage firm Jefferies upgrades its rating on Oracle Corporation. As per the latest information, the brokerage house raises the price target to $50 per share from a prior target of $41. The shares have been rated Buy.

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S&P 500

US stocks finished mostly higher on Wednesday (Aug 12) as an afternoon rally led by Apple and energy equities overcame early weakness on fears about an economic slowdown in China.

The Dow Jones Industrial Average finished essentially flat at 17,402.51, down about one-third of a point. The broad-based S&P 500 added 1.98 points (0.10 per cent) at 2,086.05, while the tech-rich Nasdaq Composite Index rose 7.60 points (0.15 per cent) to 5,044.39.

Apple, which has been mostly falling the last three weeks, rose 1.6 per cent, while energy stocks like Dow member ExxonMobil (+1.7 per cent), ConocoPhillips (+2.3 per cent) and Apache (+3.2 per cent) gained on higher oil prices.

“The market made a nice turnaround,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “Obviously it’s still about China.”

US stocks spent much of the day in the red due to fears that Beijing’s devaluation of the yuan signals that China’s economy is weaker than thought. The Dow was down more than 275 points early in the session.

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