The latest news round up for trade-able items on the First Global Credit platform, covering:
- Dow Jones Industrial Average
- F5 Networks
- Priceline Group
Amazon.com, Inc (NASDAQ:AMZN)
Amazon.com downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They currently have a $540.27 target price on the e-commerce giant’s stock. Vetr‘s price objective indicates a potential upside of 7.84% from the stock’s previous close.
A number of other equities research analysts also recently commented on AMZN. Sanford C. Bernstein set a $600.00 target price on Amazon.com and gave the company a “buy” rating in a report on Thursday, June 18th. Oppenheimer boosted their price objective on Amazon.com from $415.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Piper Jaffray boosted their price target on Amazon.com from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. B. Riley reissued a “neutral” rating and issued a $428.00 price objective on shares of Amazon.com in a report on Wednesday, April 29th.
Two analysts have rated the stock with a sell rating, six have given a hold rating and thirty-seven have issued a buy rating to the company. Amazon.com has a consensus rating of “Buy” and an average target price of $594.81.
Apple, Inc (NASDAQ:AAPL)
One of the S&P 500’s big winners for Wednesday August 26 was Apple Inc as the company’s stock climbed 5.74% to $109.69 on volume of 96.1 million shares.
The stock opened at $107.09 and saw an intraday low of $105.05 and an intraday high of $109.89. All told, the day saw a per-share gain of $5.95. Apple Inc has a 52-week high of $134.54 and a 52-week low of $92.00.
Bitcoin mining pools have, as expected, demonstrated their opposition to Bitcoin XT through their ‘tagging’ of mined blocks.
Miners have begun expressing their views through tagging amid fierce debate on Bitcoin’s block size. The issue escalated when core developers Gavin Andresen and Mike Hearn spearheaded the creation of Bitcoin XT, a potential fork from the original Bitcoin Core. Implemented as BIP (Bitcoin Improvement Proposal) 101, it would increase the block size limit from 1 MB to 8 MB early next year, and double the limit every two years thereafter. 75% of the Bitcoin mining network’s hashing power would have to agree to the change for it to take effect.
Thus far, only one mining pool, Slush, representing roughly 1% of the total hash rate, has come out in favor of BIP 101. And even they have since stopped broadcasting this view in their mined blocks. According to data on Blocktrail, the other 99% favor other approaches.
40.7% prefer the status quo (1 MB blocks). 35.5% have voted for BIP 100, a proposal by core developer Jeff Garzik that calls for a dynamic block size change as calculated by miners.
The remaining 23.9% of hashing power expressed support for an increase to 8 MB, but not via BIP 101.
Dow Jones Industrial Average
US stocks surged upwards on Wednesday, bringing an end to six consecutive days of declines.
At close, the S&P 500 was up 3.9 per cent, while the Dow Jones Industrial Average and Nasdaq ended the day 3.96 per cent higher and 4.24 per cent higher, respectively.
In the case of the S&P 500 and Dow, these were the biggest gains made since 2011, and made up for the losses suffered earlier in the week amid the panic over China’s economy.
The Shanghai Composite Index fell 8.5 per cent on Monday, precipitating a mass sell-off across US and European markets. Europe recovered slightly on Tuesday, while US stocks continued to fall.
But on Wednesday morning, the US rise started from the moment trading began. It really took hold in the afternoon, however, when Fed policymaker William Dudley cast doubt on an imminent interest rate rise.
F5 Networks (NASDAQ:FFIV)
A notable mover in today’s trading session is F5 Networks, Inc. (NASDAQ:FFIV) as the stock opened the most recent session at 120.61 and at the time of writing the last Bid was at 120.18. In the current trading session the stock reached as high as 121.44 and dipped down to 118.30. F5 Networks, Inc., a NMS listed company, has a current market cap of 8.53B and on average over the past 3 months has seen 932140 shares trade hands on a daily basis.
On a technical level the stock has a 50 Day Moving Average of 125.64. Based on a recent trade, this puts the equity at -4.34% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -11.70% away from its 52-week high of 136.11 and +12.51% away from the stock’s low point over the past 52 weeks, which was 106.82.
Gold steadied on Thursday after suffering its biggest fall in five weeks in the prior session as stock markets recovered, but indications that a US rate hike might happen later than expected kept a floor under prices.
Cheered by Wall Street’s rebound, Asian stocks rose led by Chinese markets whose deep tumble this week fed a global rout.
“Gold has been correlated a lot with stock markets in the past couple of days due to the fear globally,” said Howie Lee, an analyst at Phillip Futures in Singapore. “It’s not surprising to see gold come back off as stocks stabilise.”
Spot gold was up 0.1 per cent at $1,126.65 an ounce by 0602 GMT, after dropping 1.3 per cent on Wednesday, its steepest decline since July 20.
Netflix, Inc (NASDAQ:NFLX)
Netflix was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They presently have a $121.96 price target on the Internet television network’s stock. Vetr‘s price target suggests a potential upside of 10.69% from the company’s current price.
Netflix traded up 8.48% during trading on Wednesday, reaching $110.13. The company’s stock had a trading volume of 36,164,638 shares. The company has a market cap of $46.92 billion and a P/E ratio of 246.93. Netflix has a 12 month low of $45.08 and a 12 month high of $129.29. The stock’s 50-day moving average is $112.06 and its 200 day moving average is $86.29.
Priceline Group, Inc (NASDAQ:PCLN)
The Priceline Group Inc. shares closed the last trading session at 1178.81. In the current trading session the stock reached as high as 1217.90 and dipped down to 1179.00. The Priceline Group Inc. , a NMS listed company, has a current market cap of 60.73B and on average over the past 3 months has seen 633597 shares trade hands on a daily basis.
On a technical level the stock has a 50 Day Moving Average of 1233.91. Based on a recent trade, this puts the equity at -2.92% away from that average. In looking at the 200-day average, the stock is +0.05% away from that mark. In comparing the stock’s current level to its extended history, the stock is trading -14.13% away from its 52-week high of 1395.00 and +20.91% away from the stock’s low point over the past 52 weeks, which was 990.69.