Market outlook for Memorial Day four day trading week
Americans head into Memorial Day weekend with expectations of above average stock returns. Since 1971 the S P 500 has risen about 0.54 percent in four holiday trading days, with gains higher in up years and the week ends with a stronger finish. A nearly 2 percent rally ahead of the weekend adds to the optimism despite the holiday pause.
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Standard & Poor
Valeant Leads Cross-Border Selling by SigFig Investors
Early May data show Valeant Pharma VRX as the most sold stock among SigFig users with over 80 percent of holdings from international investors. The finding highlights cross border activity in a period of global trading interest.
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Valeant Pharma
VRX
SigFig
How we're performing USA's portfolio allocation by risk
Data from SigFig tracking service shows US investors with over half a million participants and $200 billion in assets. Five day average down 0.71 percent, six month average down 1.44 percent. Largest holding and most bought is AAPL. most sold is MERC.
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America
SigFig
AAPL
MERC
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LYB
Tiffany and HP Enterprise Spin Off Headlines
Tiffany & Co reports soft results as strong dollar drags tourism while Hewlett Packard Enterprises plans a spin off and merger with Computer Sciences Corp. Sarepta Therapeutics faces FDA timing on Duchenne drug. stock shown with price movements.
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Hewlett Packard Enterprises
Computer Sciences Corp
Tiffany Reports Soft Quarter Hits Revenue and Profit
Tiffany posted an adjusted quarterly profit of 64 cents per share, down 21 percent from a year earlier and 6 percent below expectations. Revenue declined 7 percent to 891.3 million as foreign tourism stalled, the dollar strengthened, and demand weakened in Europe and Asia amid online rivalry and slow economies. Management cautioned there may be no near term turnaround and sees mid single digit earnings decline this year.
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Tiffany
S&p Global
Citibank to Pay 425 Million to Settle Benchmark Charges
Citibank agrees to pay 425 million dollars to settle CFTC civil charges over attempts to manipulate benchmarks between 2007 and 2012. The bank and two Japanese affiliates faced fines for ISDA fix and Libor related misreporting and manipulation. Citibank self reported the Libor misconduct and cooperated, with Citi denying or admitting the allegations.
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Citigroup
Dollar International Swaps and Derivatives Association Fix
U.S
Commodity Futures Trading Commission
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Citi
Allan Goelman
Goelman
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