Stock market today, April 15, 2014: It’s tax day. We’re sorry.
Here are the five stories moving markets today:
Five Biggest Stories in Today’s Stock Market, April 15, 2014
Price: 16,173.24 | Ch: 146.49 (0.9%)
- Stepping Down: According to The Wall Street Journal, Jeff Immelt may step down from General Electric (NYSE: GE) sooner than expected. Immelt has been the CEO of GE for nearly 13 years and guided the company through the financial crisis, while acting as a senior adviser on job creation for President Obama. Though Immelt has strong support from his board of directors, he is likely to walk away long before his expected 20-year tenure.
- Enter the Dragon: According to an analyst at Topeka Capital, Facebook Inc. (Nasdaq: FB) may be preparing to enter China. Topeka Analyst Victor Monday said that the company has been ramping up efforts to hire Chinese graduate students and cited company job postings in a Chinese-language magazine. Expansion into China would be a significant step for Facebook, and would require a steep amount of human capital to make its journey viable.
- Solar Expansion: Tech companies are entering all sorts of new markets. But how about this one? This week, Google Inc. (NYSE: GOOG) announced plans to purchase Titan Aerospace, a manufacturer of solar-powered drones. The Wall Street Journal did not include any financial disclosures on the matter, but the company is leaping head first into the drone game. Another report suggests the company is also targeting U.K.-based Ascenta, which makes solar-powered drones. Google said that one day, its drones may be jet-sized and capable of flying for years without stopping. Its goal is to engage in better image collection and to provide internet access to remote areas of the world.
- This Can’t End Well: Lawyers for Mark Karpeles, the founder of Mt. Gox, told U.S. media that he has no plans to visit the U.S. and ask regulators’ questions over his failed Japanese bitcoin exchange or his company’s bankruptcy case. The lawyers also said they have received a subpoena from the U.S. Department of Treasury, but the failed CEO isn’t likely to return to the United States any time soon. Mt. Gox, which at one time hosted 80% of the world’s bitcoin trades, collapsed into bankruptcy after 850,000 bitcoins were allegedly stolen in a massive security breach in February.
- Another Big Transaction: According to the Financial Times, Zebra Technologies, a barcode printer maker, announced intentions to purchase Motorola Solutions Inc.‘s (NYSE: MSI) enterprise business for $3.5 billion in cash. The deal is likely to be announced in greater detail today. Shares of Motorola Solutions Inc. slumped 2.4% in premarket trading this morning.
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U.S. Economic Calendar April 15, 2014
- ICSC-Goldman Store Sales at 7:45 a.m.
- Consumer Price Index at 8:30 a.m.
- Empire State Manufacturing Survey at 8:30 a.m.
- Federal Reserve Chair Janet Yellen speaks at 8:45 a.m.
- Redbook at 8:55 a.m.
- Treasury International Capital at 9 a.m.
- Housing Market Index at 10 a.m.
- 4-Week Bill Auction at 11:30 a.m.
Key Companies Reporting Earnings April 15, 2014
- Consensus earnings per share for Johnson & Johnson (NYSE: JNJ) is $1.48.
- Consensus earnings per share for Coca-Cola Co. (NYSE:KO) is $0.44.
- Consensus earnings per share for The Charles Schwab Corp. (Nasdaq: SCHW) is $0.22.
- Consensus earnings per share for Northern Trust Corp. (Nasdaq: NTRS) is $0.78.
- Consensus earnings per share for Comerica Inc. (NYSE: CMA) is is $0.72.
- Consensus earnings per share for Sensient Technologies Corp. (NYSE: SXT) is $0.66.
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Read the rest of the post Stock Market Today: GE, FB, GOOG Lead Today’s News on Money Morning – Only the News You Can Profit From.
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