Historical Stock Chart
1 Month : From Jul 2018 to Aug 2018
By Laine Higgins and Caitlin Ostroff
Goldman Sachs Group Inc. - DOWN 0.2% (Tuesday)
Goldman Sachs headlined the bank earnings show this past week, notching a 51% increase in quarterly profit and announcing that veteran investment banker David Solomon would succeed Lloyd Blankfein as chief executive on Oct. 1. Its shares, among the worst-performing among big U.S. banks this year, edged down 0.2% on Tuesday. Meanwhile, JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Morgan Stanley all beat earnings expectations; Wells Fargo & Co. did not.
Arconic Inc. - UP 8.1% (Monday)
In the first trading session after The Wall Street Journal reported that the aerospace-parts maker was the subject of takeover interest from several private-equity firms, shares soared 10% Monday. The New York company, which was part of Alcoa Corp. before the aluminum maker broke itself up, also on Monday unveiled its largest-ever supply deal with Boeing Co. and announced a new partnership with Lockheed Martin Corp. Monday's stock move was a record one-day gain for the company and boosted Arconic's market value by almost $1 billion.
Amazon.com Inc. - UP 1.2% (Tuesday)
Website outages on your company's self-declared midsummer shopping holiday? No problem for Amazon. Prime Day, a 36-hour promotional period, kicked off on midday Monday with outages on the tech giant's mobile app and website that delivered error messages to many customers' screens. The good news: The error messages had pictures of dogs, which caused a minor internet sensation. Oh, and customers ordered more than 100 million products in 36 hours. Shares rose 1.2% Tuesday, making Amazon the second U.S. company ever to top $900 billion in market cap.
Netflix Inc. - DOWN 5.2% (Tuesday)
Investors were in no mood to binge on Netflix after the video-streaming site reported quarterly results after Monday's closing bell. Although Netflix's second-quarter profit surged to $384.3 million, it missed its expected subscriber growth by over a million users. Netflix blamed the underwhelming numbers on faulty internal forecasting and not on business reasons such as price increases. Investors interpreted the miss as a sign that the fast-growing company, whose stock has roughly doubled this year, may be slowing down. Shares fell 5.2% Tuesday.
Alphabet Inc. - UNCH. (Wednesday)
The European Union's antitrust regulator found Wednesday that Alphabet's Google had abused the dominance of its Android operating system in smartphones, leveling a record $5 billion fine and ordering changes to business practices. The EU said Google must stop requiring that phone makers and telecom operators preload its search engine and Chrome web browser on smartphones that use the Android system, a potentially far-reaching and costly order that Google plans to appeal. Shares of the parent company fell 1% in early trading Wednesday but recovered to end the day unchanged.
Berkshire Hathaway Inc. - UP 5.3% (Wednesday)
Berkshire Hathaway's shares will soon be fair game for Chairman Warren Buffett as he looks to spend a cash pile topping $100 billion. The conglomerate's board late Tuesday changed a policy that had restricted share buybacks to prices below 120% of the stock's book value, a benchmark not seen since 2012. Now, after the company reports earnings Aug. 3, the Oracle of Omaha will be free to repurchase shares if he feels the price is right. It's the latest sign that Mr. Buffett is struggling to smartly spend Berkshire's massive cash hoard. Class B shares leapt 5.3% on Wednesday.
State Street Corp. - DOWN 7.4% (Friday)
The custody bank said it plans to buy financial-data firm Charles River Systems for $2.6 billion, nearly nine times its revenue. To pay for the deal, State Street canceled plans to buy back about $950 million in stock this year. State Street's shares fell 7.4% Friday as investors worried the company overpaid. Separately Friday, in reporting earnings that missed some analysts' expectations, State Street said its exchange-traded-fund business saw no net inflows in the second quarter, the latest sign of a slowdown in the ETF arena.
(END) Dow Jones Newswires
July 20, 2018 17:23 ET (21:23 GMT)
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