Yahoo finance API is not available right now, please try again soon...
May 29

News:

Slim Down… J.P. Morgan Chase & Co. (JPM) is cutting more than 5,000 jobs as part its effort to slim down and become more efficient. According to people familiar with the decision, the cuts have already begun and are part of a broader industry trend, as customers flock more to Internet and mobile banking and away from more traditional banking. The layoffs are broad and will reach across the bank’s major business units: corporate and investment banking, consumer and community banking, asset management, and commercial banking. The cut follows the banks plans to overhaul its 5,570 branches to rely more on technology and less on human tellers.

What’s For Dinner… On line retailer, Amazon.com (AMZN) is preparing to expand its fledgling lineup of private-label brands to include grocery items such as milk, cereal, and baby food as well as household cleaners. Amazon’s planned expansion mirrors a more traditional retail model where name-brand products are sold beside store-owned goods. Amazon has sought trademark protection for more than two dozen categories under its private label brand Elements, including coffee, soup, pasta, water, vitamins, dog food and household items like razors and cleaning products. Amazon’s first line of Elements, included Diapers and baby wipes—the latter of which is still on the markets and are available to customers who pay $99 a year for a Prime unlimited shipping membership.

Markets:

Asia: Asian markets closed out the week mixed on Friday, as the negative handoff from Wall Street and no sight of a Greek deal had investors saying TGIF. Europe: European markets closed down on Thursday as hopes for a Greek deal fade. U.S: U.S. markets pulled back on Thursday as investors grappled with news from Greece, a mixed bag of economic data, new merger announcements, and the prospect of a rate hike. DJIA: -38.87 18,126.12 NASDAQ: -8.62 5,097.98 S&P: -2.69 2,210.79

Word of The Day:

Activist Investors An individual or group which purchases a large amount of a company’s shares and or tries to obtain seats on the company’s board with the goal of effecting major change in the company. A company can become a target for an activist investor if it is mismanaged, has excessive cost or another problems an activist investor thinks they can fix to make the company more profitable.

Dinner or Drink:

The Cream of the Crop Cocktail

1 oz. Del Maguey Vida Mezcal

1 oz. King’s Ginger

.75 oz. Coconut-pistachio puree*

.75 oz. Fresh lemon juice

Garnish: Candied ginger and an espelette pepper Glass: Highball  

Add all ingredients to a shaker and fill with ice. Shake, and strain into a highball glass over fresh ice. Garnish with a piece of candied ginger and an espelette pepper.

Have a safe and wonderful weekend, Ya’ll!

 

May 27

News:

We’re Hiring…

Online retail giant, Amazon (AMZN), will hire 6,000 full-time workers to help staff up its more than 50 distribution centers across the U.S. The new hires will pick, pack, and ship products to fulfill customer orders. Currently, Amazon employs around 50,000 full-time workers at its distribution centers. Amazon has been expanding its Prime program’s offering in an effort to grow its membership services such as grocery delivery, one-hour delivery in some cities, and the company’s newest creation called Echo which syncs with its Prime music service. Shares of Amazon followed the general trend of market, closed down $2.16 on Tuesday.

You’re Out

Yum Brands (YUM) announced Tuesday the company’s Taco Bell and Pizza Hut brands will start removing artificial flavors and colors from most of their food, joining a long list of other food companies opting for more natural ingredients in the face of changing customer taste. Taco Bell is aiming to replace the bad ingredients with natural alternatives by end of this year. The chain will also take out additives like Trans fats and hopes to removal all additional artificial preservatives and additives by 2017. The changes will affect more than 95% of Taco Bell’s core items however, it does not apply to its beverages or co-branded items. Taco Bell’s sister brand, Pizza Hut, will jump on the wagon with its plans to remove artificial colors and flavors from its pizza’s by the end of July. The chain has already eliminated trans-fat and monosodium glutamate from its food.

Move Over, Spam…

Hormel Foods (HRL) has agreed to purchase Applegate Farms LLC for $775 million in a move that will give the maker of Spam a foothold in the organic-meat category. The deal will be the largest purchase Hormel has ever made and is the latest in a wave of established food makers buying companies with healthier alternatives. The deal will help Hormel appeal to a growing number of consumers seeking deli meats, hot dogs, and other products produced from animals that are antibiotic and growth hormone free. Anyone else hungry?

Markets:

Asia:

Asian markets eked out a positive close on Wednesday after better economic numbers out of the U.S has global investors wondering if a rate hike isn’t coming soon.

Europe:

European markets closed lower as the debt drama in Greece continued and better economic news from the U.S. could mean the Fed will start raising rates.

U.S:

U.S markets closed lower on Tuesday as investors weighed a pullback in the purchase of durable goods against a continued rise in housing prices.DJIA: -190.48 18,041.54 S&P: -21.86 2,104.20 Nasdaq: -56.61 5,032.75

Word of The Day:

Durable Goods

Consumer goods, such as consumer electronics, toy makers, small tool manufacturer, and jewelry, which do not have to be purchased frequently.

Dinner or Drink:

Bacon S’mores

INGREDIENTS
24 slices HORMEL® BLACK LABEL® Brown Sugar bacon
4 graham crackers, broken in half (8 squares)
1 (1.55-ounce) milk chocolate bar, quartered
4 marshmallows, toasted

 

DIRECTIONS
Heat oven to 400°F.  Cut each bacon slice in half.  On flat surface, arrange 2 bacon half-slices side-by-side. Weave 2 bacon half-slices in opposite direction.  Very carefully lift bacon lattice to large rimmed baking pan. Repeat with remaining bacon.  Bake 15 to 20 minutes or until crisp.  Remove from baking pan and drain. For each s’more, layer 1 graham square, 1 bacon square, 1 chocolate quarter, 1 bacon square, 1 toasted marshmallow, 1 bacon square and 1 graham square.  Serves 4.

 

Like our recipe today, click here for more.

May 26

News:

Winner, Winner…

Charter Communication (CHTR) has struck a deal to buy Time Warner Cable (TWC) in a $55 billion cash-and-stock deal giving cable operator, John Malone, the prize he has been chasing for two years. Shareholders of Time Warner cable will received $195 a share, a 14% premium to Friday’s closing price. The deal comes a month after Comcast (CMCSA) and Time Warner terminated their planned merger after facing serious pushback from Washington regulators.

Fair Treatment…

Discount giant Walmart (WMT) is asking its meat and egg suppliers to curb the use of antibiotics and offer animals more humane living conditions. The world’s largest retailer is asking the farmers who grow beef, chicken, pork and other animals for its U.S. stores to limit the use of antibiotics to only the sick and never use antibiotics to promote animal growth. The company also asked suppliers to raise animals with sufficient space for them to express “normal” animal behavior. The new guidelines will affect suppliers to the U.S. Walmart and Sam’s stores. The new guidelines come as executives of the company work to improve the quality of fresh meat and produce in an effort to strength operations and sales in the U.S.  Shares off Walmart, like the rest of the overall U.S. markets, closed down on Friday.

Markets:

Asia:

Asian markets closed higher on Monday despite an absence of fresh cues from Wall Street.

Europe:

European shares closed lower on Friday, after the U.S reported increase inflation had investor wondering if rate hikes are just around the corner.

U.S:

U.S. markets closed lower on Friday, as investors avoided big bets before the holiday weekend. DJIA: -53.72 18,232.02 S&P: -4.76 2,216.06 NASDAQ: -1.43 5,089.36

Word Of The Day:

Price to Sales Ration (PSR)

A valuation ratio which compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.

Dinner or Drink:

Old Fashioned

4 dashes Angostura Bitters

1 tsp Sugar

1 Orange wheel

1 Maraschino cherry

1 splash Club soda

2 oz. Bourbon

Garnish: 1 Fresh orange wheel1 Cherry

Glass: Old Fashioned

In an Old Fashioned glass, muddle the bitters, sugar, orange wheel, cherry and a splash of soda

Remove the orange rind, add the bourbon and fill with ice

Garnish with a fresh orange wheel and cherry

 

May 24

News:

I Quit…

Lumber Liquidators (LL) announced Thursday its CEO, Robert Lynch, is stepping down. Lynch’s surprise exit from the company follows a plunge in the flooring retailer’s stock performance after March’s report on CBS, which found some of the Chinese-made laminate flooring the company sold violated health and safety standards. Lynch will also give up his seat on the company’s board of directors. Company founder, Thomas Sullivan, will temporarily take over as chief executive while the company conducts a search for his new head. Shares of Lumber Liquidators tumble down on Thursday $4.26 to $21.10.

Sold…

Hewlett-Packard (HP) announced sweeping changed to its China operations Thursday just before they released quarterly results that were mostly in line with forecast. The company will sell a majority stake in its data-networking operations in China to Tsinghua University for $2.3 billion. Hewlett-Packard is one of the first major U.S. tech companies to pass control to local owners since the Chinese government stepped up their restrictions on foreign firms. Shares of HP closed at $33.83, up slightly, on Thursday.

Markets:

Asia:

Asian markets closed out their week in the green on Friday as investors read mixed economic data out of the U.S. as a sign that interest rates could stay lower for longer.

Europe:

European markets closed higher on Thursday despite receiving a mixed bag of economic data for the Eurozone.

U.S:

U.S. markets closed flat on Thursday as investors stayed on the sidelines before the holiday weekend. DJIA: +0.34 18,285.74 S&P: +4.97 2130.82 NASDAQ: +19.05 5090.79

Word of the Day:

Yield Curve:

A line that plots interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity dates. Most frequently used to compare the three month, two-year, five-year, and thirty-year U.S Treasury debt. The yield curve is used as a benchmark for other debt markets like mortgage rates or bank lending rates.

Dinner or Drink:

The Pistachio Mule Cocktail

2 oz.  Pistachio shell–infused vodka*

.75 oz. Fresh lime juice

1 oz. Simple syrup

.5 oz. Fresh ginger juice

Ginger beer

Garnish: Lime wedge      Glass: Rocks

Add all ingredients except the ginger beer to a shaker and fill with ice

Shake hard, and strain into a rocks glass filled with fresh ice.

Garnish with a lime wedge.

 

How to make: *Pistachio-infused vodka:

  • 6 oz. Pistachio shells, raw and unsalted
  • 1 liter Vodka

Combine all ingredients in a sealable container and allow the shells to infuse in the vodka for a minimum of 24 hours. Strain out the solids.

Like our drink today, click here for more.

Have a safe and wonderful holiday weekend, Ya’ll!

 

May 21

News:

Thoughts From The Fed….

On Wednesday, the FOMC (Federal Open Market Committee) released the minutes of their April 28-29 policy meeting. Policymakers were split at the meeting over whether the economy’s winter weakness was temporary. The group largely agreed that June would be too early to start raising interest rates. While a few Fed officials believed the U.S. economy would be ready to raise in June, many Fed officials viewed it unlikely economic data would be strong enough to justify a hike next month. Investors now will turn their attention to a possible hike coming in September.

Drug Deal…

CVS Health (CVS) has agreed to purchase Omnicare for $12.7 billion in a move to expand the company’s pharmacy services into assisted living and senior care facilities. CVS Health will pay $98 per share for the Cincinnati-based Omnicare, a 6.1 percent premium to its Wednesday closing price. CVS runs one of the biggest pharmacy benefits management operations along with its drugstores nationwide. Omnicare employs around 13,000 at 160 locations in 47 states.

Penalty Present…

Five global banks have agreed pay more than $5 billion in combined penalties and plead guilty to criminal charges to resolve allegations traders manipulated foreign currency rates for their own interest. The four banks, Barclays (BCS), Citigroup (C), J.P. Morgan Chase (JPM), and Royal Bank of Scotland (RBS) plead guilty to manipulating prices in the $500 billion-a-day market for U.S. dollars and euros. The fifth bank UBS, will pay a fine for alleged business misconduct. The size and scope of the investigation and resolution reflects authorites attempts to crack down on what they called “breathtaking” misconduct.

Markets:

Asia:

Asian markets closed mixed on Thursday, after a preliminary reading of China’s manufacturing came in below estimates sparking hope more stimulus is on the way.

Europe:

European shares closed slightly lower on Wednesday, as investors waited patiently for Greece’s next move.

U.S:

U.S. markets closed down slightly after the Federal Reserve signaled a rate hike will not take place at their June meeting. DJIA:-26.99 18,285.40 S&P 500: -1.98 2,125.85 NASDAQ: +1.71 5,071.74

Word of the Day:

Price to Sales Ration (PSR)

A valuation ratio which compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.

Dinner or Drink:

Money Shot

1/3 oz. amaretto almond liqueur
1/3 oz. Irish cream
1/3 oz. melon liqueur

 

Shake ingredients together in a cocktail shaker. Strain into a shot glass; serve.

May 20

News:

Guilty As Charged

Brokerage firm and bank, UBS (UBS AG), became the latest global bank to plead guilty to crimes in the U.S. and was slapped with $545 million in fines. The fines come after authorities probing the manipulation of foreign-exchange rates discovered inappropriate conduct and tore up a three-year-old immunity agreement with Switzerland’s biggest lender. The fines for UBS are the first in a wave of settlements expected on Wednesday between big banks and U.S. regulators over the alleged manipulation of foreign-exchange markets. UBS will plead guilty to wire fraud and pay a new $203 million fine related to the Libor rigging case. In addition, the bank will pay a $342 million penalty to the U.S Federal Reserve, for “engaging in unsound business practices” in its foreign- exchange business.

No TV For You….

More than a year ago, after nearly a decade of research, Apple (APPL) quietly shelved plans to produce an actual Television set. Apple first began considering making a Television set in the middle of the 2000’s, as iTunes branched into video. According to people familiar with the matter, Apple search for breakthrough features to justify building an Apple-branded television set. In additional to an ultra-high definition display, the computer giant had considered adding sensor equipped camera’s allowing viewers to make video calls through the sets. Ultimately, however, Apple executives didn’t consider any of those features compelling enough to enter the highly competitive television market, led by Samsung Electronics.

Markets:

Asia:

Asian markets closed mixed on Wednesday, after Japan released better than expected GDP data.

Europe:

European stock markets surged on Tuesday after news leaked the ECB will be front loading its asset buying program in anticipation of less market liquidity during the summer.

U.S:

U.S. shares ended mixed on Tuesday with markets setting new record highs for the second consecutive session. A rise in housing starts and the anticipation of what surprises Wednesday’s Fed minutes will reveal had investors feeling like spending a little dough. DJIA: +13.51 18312.39 S&P: -1.37 2127.83 NASDAQ: -8.41 5070.03

Word of the Day:

Asset Classes

A group of securities that have similar characteristics, behave similarly in the markets, and are subject to the same laws and regulations. The three main asset classes are equities (stocks), fixed-income (bonds), and cash equivalents (money market instruments).

Dinner or Drink:

The Apple Business Cocktail

2 oz.  NOLET\\\’S Silver Dry Gin

1 oz. Fresh apple juice

.5 oz. Fresh lime juice

.5 oz. Honey

Garnish: 1 Apple slice  Glass: Rocks

Add all the ingredients to a shaker and fill with ice

Shake, and strain into a rocks glass filled with fresh ice

Garnish with an apple slice.

Like our drink of the day, click here for more.

 

 

May 19

News:

Mama Needs A New Dress

Accena Retail Group, the parent company of Lane Bryant and Dressbarn, announced Monday it will buy the company that owns Ann Taylor and Loft in a deal valued at $2 billion. Currently, Ann Taylor has 361 stores nationwide, while Loft has 664 locations. Ascena Retail Group owns mall staples, such as Dressbarn, Lane Brant, and children’s clothing store Justice. The deal will give the combined company over 4,900 stores nationwide. Shareholders of Ann Inc. (ANN) will receive $37.34 in cash and 0.68 a share of Ascena Retail Group Inc. for each share owned. The deal is set to close later this year. Shares of ANN closed higher $7.69 at $46.40

Maps Anyone?

Over the weekend Apple (APPL) purchased Coherent Navigation, a Bay Area global positions company. The company, founded in 2008, creates commercial navigations services for companies like Boeing or satellite network provider Iridium. Financial terms of the deal were not disclosed by either company. The move is seen as a way to further boost Apple’s location technology and services.

Markets:

Asia:

Asian equities closed higher on Tuesday after Monday’s new record highs on Wall Street, as well as a flurry of new supportive measures out of China.

Europe:

European shares rebounded from early session losses despite the news Greece may default on its next round of payments.

U.S:

U.S. markets closed in the green on Monday, with both the Dow Jones and S&P 500 hitting new record highs. Stocks wavered at the opening before rallying quietly in the afternoon session as calmer bond and oil markets had investors feeling less anxious about the near future. DJIA: +26.32 18,298.88, S&P 500 +6.47 2129.20 NASDAQ: +30.15 5078.44

Word of the Day:

Terminal Value

The value of a bond at maturity, or any asset at a specified future valuation date, taking into account interest rates, the current value of the asset, and assuming a stable growth rate.

Drink or Drink:

Calm Voyage

1/2 oz. light rum
1/2 oz. Strega® herbal liqueur
1 tbsp. passion-fruit syrup
2 tsp lemon juice
1/2 oz. egg white

Combine all ingredients with 1/2 cup crushed ice in an electric blender and blend at a low speed for a short length of time. Pour into a champagne flute and serve.

May 18

News:

Bad Bull…

On Friday, Blue Bell Creameries announced that it will be laying off more than a third of the company’s workforce, following a series of listeria illnesses linked to its ice cream. Blue Bell’s production plants in Texas, Oklahoma, and Alabama have been closed since the company issued a recall in April after its products tested positive for listeria. 750 full-time employees and 700 part-time workers will be losing their jobs; these represent about 37 percent of the company’s 3,900 employees. Another 1,400 workers will be furloughed but will receive substantial portions of their current salaries. On Thursday, the company signed agreements with Texas and Oklahoma health officials spelling out the steps it needs to follow to resume production of its ice cream products. However, no date has been set for when production will start back up.

So Sad…

Toys R Us announced Friday it will close the only remaining FAO Schwarz store, citing the rising cost of running a retail space on New York City’s pricey Fifth Avenue. Toys R Us, privately held since 2005, bought the FAO Schwarz brand in 2009. The 45,000-square-foot Fifth Avenue store, made famous by Tom Hanks in the movie Big, will close July 15. The company is still looking for another location in Midtown Manhattan. The store’s current location features a candy store, numerous specialty toy departments spread across three floors, and personal shoppers.

Markets:

Asia:

Asian markets started their week off mixed as investor confidence wavered following the release of data showing further declines in China home prices.

Europe:

European stock markets ended their week in the red after lower industrial production data sent the euro higher and regional export stocks lower.

U.S:

U.S. markets closed flat on Friday despite a decrease in industrial production for the fifth straight month. DJIA: +20.32 18,272.56 S&P: +1.63 2,122.73 NASDAQ: -2.50 5,048.29

Word Of The Day:

Market Capitalization

Market capitalization is calculated by multiplying a company’s outstanding shares by the current market price of one share. Market Capitalization is used to determine whether a company is categorized as a small cap, mid cap, small/mid cap, or large cap.

Dinner or Drink:

Friday Frozen Mudslide

1 1/2 oz Absolut® vodka
1 1/2 oz. Bailey’s® Irish cream
1 1/2 oz. Kahlua® coffee liqueur
8 ice cubes
1 1/2 oz. cream
1 scoop Haagen-Dazs® vanilla ice cream
2 scoops Haagen-Dazs® chocolate ice cream

Begin by crushing the 8 ice cubes in a blender. When ice is finely crushed, add the remaining ingredients and blend for 45 seconds on blender’s highest setting. Pour into glass and serve immediately.

Like our drink today, click here for more.

 


 

May 15

News:

Fly Away…

Business jet maker, Bombardier Inc., announced Thursday it would cut production of its most lucrative jet, in a move likely to add to investors’ concerns. Slowing economic conditions world-wide and geopolitical issues have reduced the demand for the Canadian plane and train makers Global 5000 and 6000 jets. The production cut will result in the loss of around 1,750 jobs and weigh heavily on its Montreal-area operations. Factors weighing on the company’s jet plane sales include, the weakening of Russia’s economy in the aftermath of sanctions and Russia’s political situation causing Bombardier to shelve its plan to build a final assembly line for its turboprop aircraft, leaving over 100 aircraft orders up in the air.

Feel Good…

Turns out all the small $3 donations at Macy’s (M) cash registers leading up to Memorial Day really do raise big bucks for veterans. Over the past two years, Macy’s has raised over $5 million for the “Got Your 6” national veteran campaign. In exchange for each $3 donation, the department store gives customers discounts of 15 to 25 percent off their purchases. Chris Marvin, director of the Washington based “Got Your 6” campaign, says $3.9 million has already been distributed to charities focused on empowering veterans with jobs, college programs, and other supports. The campaign starts again this Saturday and runs through Memorial Day. Outstanding!

Markets:

Asia:

Asian markets closed out their week mixed as Shanghai faced liquidity issues, while the rest of the markets basked in the positive hand off from Wall Street.

Europe:

European equities finished higher on Thursday, as new European Union regulations helped the continent’s steel producers post strong gains.

U.S:

U.S. stock markets closed higher on Tuesday.  Investors cheered further weakness in the dollar and calmer bond markets, despite receiving mixed economic data. DJIA: +191.75 18,252.24 NASDAQ: +69.10 5050.10 S&P +22.62 2121.10

Word of The Day

Limit On Open Order (LOO)

A type of trading limit order which buys or sells shares at the market open if the market price meets the limits conditions. The order is good only for the market opening and does not last the trading day.

Dinner or Drink:

Aviation

2 oz.   Gin

.5 oz. Maraschino liqueur

.25 oz. Crème de violette or Crème Yvette

.75 oz. Lemon juice

Garnish: 1 Cherry (optional)  Glass: Cocktail

Add all the ingredients to a shaker and fill with ice

Shake, and strain into a cocktail glass

Garnish with a cherry if desired

Like our drink today, click here for more.

Have a safe and wonderful weekend, Ya’ll!

May 14

News:

Grand Plan…

Industrial conglomerate Danaher (DHR) announced it will break itself up and buy something new in the next two years. Danaher will divest its self of its industrial units by combining them into a new public company and spinning them off to Danaher shareholders. The spinoff will complete Danaher’s two year plan to exit out of old-line manufacturing business or business with little in common. As part of the Danaher’s grand plan it will buy filtration-equipment maker Pall Corp (PLL) for $13.6 billion to help the company revamp its business portfolio focusing on science, health care, and technology markets.

Coffee Hack…

On Wednesday, Starbucks (SBUX) confirmed customers are being targeted by hackers getting access to their credit cards through the coffee chain’s mobile payments and gift cards. Thieves are taking advantage of the auto-reload function customers use to refill their cards. The hackers, according to a company spokesman, are able to get control of accounts by changing the email address associated with them, draining the funds, and doing so again each time the money is replenished. The company is recommending customers disable the auto-reload function attached to their gift cards or mobile payments. This isn’t the first time the coffee giant has had a breach. In 2013, using the same scheme hackers were able to drain $1700 from a victim’s bank account. Starbucks closed slightly lower on Wednesday.

Markets:

Asia:

Asian markets ended mixed on Thursday after markets came under pressures as local currencies strengthened against the dollar.

Europe:

European markets closed slightly slower on Wednesday despite economic data indicating modest recover in the region.

U.S:

U.S. stocks ended flat on Wednesday after investors were disappointed with the monthly retail sales figures. DJIA: -7.74 16,060.49 S&P: -0.64 2,098.48 NASDAQ: +5.50 4,981.69

Word of the Day:

Inflation

The rate which the general level of prices for goods, and services is rising while consumer purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep excessive price growth to a minimum.

Dinner or Drink:

Cowboy Coffee

2 Dark roast coffee beans

2.5 oz. Stranahan’s Colorado Whiskey

.5 oz. Demerara syrup

2 dashes Angostura Bitters

 

Garnish: 1 Lemon peel and coffee bean      Glass: Champagne flute

 

In a shaker, crush the coffee beans

Add the remaining ingredients and fill with ice

Shake, and fine strain into a chilled Champagne flute

Squeeze a lemon peel over the drink and garnish with the peel and an additional coffee bean

May 13

News:

Can You Hear Me… You’ve Got Mail…

On Tuesday, wireless giant Verizon (VZ) agreed to buy AOL for $4.4 billion in a deal that will expand the telecommunication companies’ ability to deliver mobile video and advertising services. Verizon will pay $50.00 per share for AOL, a 15% premium to AOL’s closing price. AOL owns media outlets and online video networks such as The Huffington Post, MAKERS and AOL.com. The purchase grants Verizon access to high-quality Web video and AOL’s technology for selling ads.

Pay Day…

For the moment, things seem to be going Greece’s way. On Tuesday, the country handed over 757 million euros (844 million USD) worth of debit payment to the International Monetary Fund. But the joy of watching Greece start to pay back its creditors may be short-lived as it has several more payments due in June. The country faces a major liquidity crisis in terms of getting its hands on the needed funds to make the next round of payments. Greece has already ordered local authorities, universities and hospitals to put all of their reserves in the central bank, hoping that this will ease the cash crunch. In addition, it still hasn’t come to an agreement with its other creditors to release much-needed funds.

Markets:

Asia:

Asian markets closed mixed on Wednesday after economic data from China came in just below expectations.

Europe:

European markets closed lower on Tuesday as the continued rise in investors exiting out of government bonds has investors spooked.

U.S:

U.S. markets closed slightly lower on Tuesday following a sharp selloff in European equities and government bonds. DJIA: -36.94 18068.23 S&P: -6.21 2099.12 NASDQ: -17.38 4976.19

Word of the Day:

Money Market Funds

An investment whose objective is to earn interest for shareholders while maintaining a NAV (Net Asset Value) of $1 per share. A money market fund is comprised of high quality, liquid debt, and monetary instruments held for a short term (less than one year). Investors can purchase shares of money market funds through banks, brokerage firms, and mutual funds.

Dinner or Drink:

Dirty Greek Martini

3 Oz Gray Goose vodka
1/2 oz. dry vermouth
1/2 oz. olive brine
1/2 oz. pepperoncini brine

 

Mix ingredients in a Boston glass and ice. Sift in cocktail glass and garnish with olive and pepperoncini pepper

 


May 12

News:

You’re Free To Go…

In its quarterly financial filing, Citigroup (CITI) reported that the Department of Justice has dropped its probe of the bank related to its rigging of the key lending rate, LIBOR, and it has no plans to press criminal charges against the bank. Three years ago, when the LIBOR scandal broke, Citigroup, along with several other giants in the banking industry, would have had to pay the stiffest fines to date in order to settle the charges of manipulating the key banking rate. However, the bank did not get off completely scot-free; it’s already doled out $80 million in fines to European authorities and may still have to pay out civil penalties in the United States.

We like you…

Noble Energy (NBL) has agreed to purchase smaller rival Rosetta Resources (ROSE) for $ 2.1 billion in the first deal involving a sizable U.S. energy producer following the decline in oil prices. Under the terms of the merger, Noble will acquire Rosetta in an all-stock transaction and will assume $1.8 billion of Rosetta’s debt. Shareholders will receive 0.542 shares of Noble for each share of Rosetta they hold. Many speculate the merger will set a bench mark value for other U.S. energy producers, accelerating a wave of mergers and acquisitions with in the beaten down oil sector. Shares of both Noble and Rosetta closed higher on Monday.

Markets:

Asia:

Asian markets closed lower on Tuesday as investors reacted to a negative hand off from Wall Street and a rise in bond yields.

Europe:

European stocks ended Monday mixed as Greece’s nagging debt drama weighed on Europe’s broader stock markets.

U.S:

U.S. markets ended Monday lower as investors took profits and started to climb the wall of worry as government bond yields continued to climb. DJIA: -85.94 18,105.17 NASDAQ: -9.98 4,993.57 S&P: -10.77 2,105.33

Word of the Day:

Bond Yield

The amount of return an investor is paid on a bond. There are several types of bond yields that can be calculated and used to judge the merits of the bond, including current yield and nominal yield. As bond prices goes down bond yields typically go up.

Dinner or Drink:

Oil Rig

1 Oz cheap Scotch whisky
1 oz. peppermint schnapps

 

Pour both ingredients into a double shot glass (or whiskey sour glass, etc.) and serve.

Like our drink, click here for more.


May 11

 News:

Up Stream…

Spotify, the music streaming service, is considering getting into the increasingly crowded video streaming service business. The company is reportedly talking to several YouTube content creator, other production companies and top video companies  Tastemade Maker Studios and Fullscreen about the potential new service. It’s questionable whether Spotify can have the same impact on streaming video the Swedish company had on the music business. If the company decides to launch the new service it will join an increasingly competitive sector already dominated by Netflix, Amazon, and Hulu. Currently, the music streaming service, which has 60 million users and 15 million subscribers paying $9.99 a month for an ad-free service, has yet to actually turn a profit.

Lost…

Satellite TV provider, Dish Network Corp. (DISH), said Monday it lost 134,000 pay-tv subscribers in the first quarter of the year as the rate of cancellations increased while the company’s profits doubled compared to a year earlier. Dish has struggled to boost its subscriber’s number amid a negative pay-tv industry, pressured by a weak economy and heavy promotions from competitions. Dish rolled out a new online video-streaming service, Sling TV, earlier this year in an effort to reach a younger generation of viewers.

Markets:

Asia:

Asian markets started off their week in the green after a positive hand off from Wall Street and China’s roll their third rate cute since November.

Europe:

European shares rallied on Friday after a more decisive-than-expected outcome in the U.K election and better-than-expected job number out of the United States.

U.S:

U.S. stocks ended their week sharply higher, as investors cheered at the goldilocks’ jobs number, not to small, not to big, just the right size for now, which showed growth but not enough in most eyes to warrant immediate tightening by the Fed. DJIA: +267.05 18,191.11 S&P 500: +28.10 2116.10 NASDAQ: +58.00 5,003.55

Word of the Day:

Preferred Stock

A class of stock issued by a company which typically pays a fixed dividend however, they do not have voting rights. In the event of a company bankruptcy’s preferred stock holders have the right to be paid company assets first.

Drink of the Day:

The Grasshopper Cocktail

1 oz.  Green Crème de Menthe

1 oz.  White crème de cacao

2 oz. Heavy cream

Garnish: 1 Fresh nutmeg (optional)  Glass: Cocktail

 

Add all ingredients to a shaker and fill with fresh ice

Shake vigorously and strain into a chilled cocktail glass

Grate fresh nutmeg directly over the center of the drink

May 8

News:

Jobs, Jobs, Jobs…

Friday morning the Department of Labor released their monthly NFP jobs report. According to the report, 223,000 jobs were added in April. The unemployment rate is at 5.4%, is the lowest since May 2008.

Yelp….

Yelp Inc. (Yelp), the San Francisco-based company, is looking for a buyer. The company has been working with investment bankers and has been in touch with potential buyer’s recently. With a market capitalization of $2.9 billion, the company could fetch as much as $3.5 billion in a sale. A deal is not imminent and it’s possible that Yelp could decide against a sale. Yelp launched its public offering in 2012 and shares hit a high of $97 in March 2014. Since then, shares have taken a downturn and were trading at around $39 a share on Wednesday.

Pull Out…

Lumber Liquidators (LL) is pulling Chinese-made laminate flooring from its inventory after a report in March on 60 Minutes claimed that some Chinese laminate flooring may contain high levels of formaldehyde. Until the announcement, the company had been defending its products and declaring them safe. Despite the company’s reassurances, customers and shareholders have pushed Lumber Liquidator’s share price down almost 59% this year. Revenue has suffered, with sales slipping 12.8% in March. The U.S. Justice Department is considering criminal charges and the company is facing 103 class-action suits related to the Chinese laminate flooring.

Markets:

Asia:

Asian shares ended their week in the green after a positive hand off from the U.S. and speculation Beijing will roll out more easing measures.

Europe:

European markets closed higher on Thursday despite the uncertainty of the U.K election and the Greece debit drama.

U.S.:

U.S. stocks rebound on Thursday as investors got back into the game after Wednesday’s tumble.  DJIA: +82.08 1724.06 NASDAQ: +25.90 4945.54 S&P: +7.85 2088.00

Word of the Day:

Supply

A fundamental economic concept which describes the total amount of specific goods or services available to consumers.

Drink of the Day:

Lights Out Punch

Apple slices (optional)

Cinnamon sticks (optional)

1.5 tbsp. Market Spice Cinnamon-Orange Black Tea or other spiced black tea

12 oz. Sweet vermouth, Centinela Reposado Tequila or other reposado tequila, chilled

12 oz. Fresh apple juice or cider, chilled

8 oz. Fresh lemon juice

4 oz. Demerara syrup (2 parts Demerara sugar, 1 part water), chilled

16 dashes Angostura Bitters

16 dashes Fee Brothers Whiskey Barrel Aged Bitters, Fee Brothers Old Fashion Bitters or The Bitter Truth Old Time Aromatic Bitters

24 oz. Club soda, chilled

 

Garnish: 1 Apple slices, cinnamon and nutmeg     Glass:Punch
At least 24 hours prior to kickoff, fill a plastic container (1-pint or 1-quart, depending on the size of your punch bowl) with water and add apple slices and cinnamon sticks if desired

Freeze until solid

Combine the tea and vermouth in a jar or other container and let stand for 90 minutes

Strain, and refrigerate. On game day, combine the tea-infused vermouth and the remaining ingredients in a punch bowl, adding the soda last

Carefully add the prepared ice block and garnish lavishly with apple slices and freshly grated cinnamon and nutmeg

Like our drink today, click here for more.

Have a wonderful and safe weekend, Ya’ll!

Special shout out to all the Mom’s out there. Have a Happy Mother’s Day!

8

News:

Tumbling Down…

Global markets tumbled on Thursday after comments from Fed head Janet Yellen fanned fears about the U.S. economy. In an interview with International Monetary Fund Head Christine Lagarde , at a financial stability conference in Washington, Yellen said market valuations were generally “quite high” in response to a question about risks to financial stability. This caused markets to wonder if the Fed will have to increase its short-term rate relatively soon to fight inflation.

Hip n’ Trendy…

Whole Foods (WFM) announced it will open a new, lower-cost chain of stores next year aimed at younger shoppers. The new chain will cost less to operate but will be “hip, cool, and technology-oriented.” The new chain will attract more cost-conscious buyers, while still maintaining the company’s quality standards. The company did not provide the number of stores it will open or possible locations.

Markets:

Asia:

Asian stocks closed lower on Thursday, as investor’s jitters, over tightening margin trading rules in China, a weaker finish on Wall Street, and growing growth worries in Australia got the best of them.

Europe:

European shares ended their Wednesday lower, as markets reacted to comments from the Fed indicating investors should be worried stocks are overvalued.

U.S:

U.S. markets closed lower on Wednesday after Fed head Janet Yellen expressed concern over stocks being valued to high, making many wonder if she isn’t correct in her assessment. DJIA: -86.22 17,841.98 NASDAQ: -19.68 4919.64 S&P: -9.11 2,080.15

Word of the Day:

Cyclical Stocks

An equity whose price is affected by the ups and downs in the overall economy.

Dinner or Drink:

Whiskey Smash

Half Lemon, cut into wedges

4 Mint leaves

.75 oz. Simple syrup

2 oz. Elijah Craig 12-Year-Old Bourbon

Garnish: 1 Mint sprig    Glass: Rocks
In a shaker, muddle the lemon

Add the remaining ingredients and fill with ice

Shake, and double-strain into a rocks glass filled with crushed ice or one large ice chunk

Slap a mint sprig between your hands and use as garnish

Serve with a straw.

May 6

News:

Jobs, Jobs, Jobs…

Wednesday, payroll giant ADP released their monthly private sector jobs report. According to the report, in April 169,000 jobs were added. That number is lower than the 205,000 jobs analyst had expected. Next up this week, Friday’s NFP report.

No No List…

On Tuesday, Panera Bread (PNRAC) published is No No list of dozens of ingredients the company will either stop using by the end of 2016 or has already cut from its menu. Among the ingredients set to disappear by end of next year artificial smoke flavor, glycerol ester of wood rosin, and an additive used to keep oils evenly mixed in water. Eliminating ingredients wouldn’t be easy for the casual food chain, around 168 of its 460 ingredients will need to be reformulated. Panera may be the first national restaurant chain to share a list of unacceptable ingredients however, it is not the first to move toward better transparency and healthier items. The transparency trend seems to be taking off. Last month Chipotle (CMG) announced it would only use beef free of hormones. Shares of Panera, like the rest of the broader market, closed lower at $182.83 on Tuesday.

No, You Didn’t…

The Los Angeles City Attorney filed a civil complaint against Wells Fargo for opening up accounts and credit cards in customer’s names without their authorization. The complaint charges bank employees opened new accounts for existing customers without their permission, to meet sales quotas. The employees allegedly transferred money from customer’s accounts to pay the fees associated with the unauthorized accounts. When the fees for the unauthorized accounts went unpaid, some customers were placed in collection. Others had negative information placed on their credit reports. The City Attorney’s office is seeking a $2,500 fine for each of the unauthorized accounts and all money taken from customers returned.

Markets:

Asia:

Asian shares sank on Wednesday, as a less-than-stellar corporate results in Sydney and Tuesday Wall Street tumble took its toll on trading sentiment.

Europe:

European stocks closed sharply lower on Tuesday, as concerns Greece won’t be able to strike a pack with its Eurozone lenders before next week’s debt payment nagged at investors.

U.S:

U.S. markets closed down on Tuesday. Weakness in Europe, continued concerns over Greece, and uncertainty what this week jobs numbers will bring had investors taking profits. DJIA: -142.20 17,928.20 S&P: -25.03 2089.46 NASDAQ: -77.60 4,939.33

Word of the Day:

Coupon

The interest rate stated on a bond when it’s issued which is typically paid semiannually.

Dinner or Drink:

Absolut Trouble

1 1/2 oz. Absolut® Citron vodka
1 oz. Grand Marnier® orange liqueur
1/2 oz. grenadine syrup
1 oz. orange juice

Shake all ingredients with ice and strain into an old-fashioned glass

 

 

May 5

News:

Hello, Goodbye

Cisco Systems (CSCO) announced Monday that John Chambers will end his 20-year reign atop the networking giant on a high note and retire this July. His replacement, Chuck Robbins, is a 17-year veteran of the company who has specialized in sales and relationships with the company’s business partners. Robbins will become executive chairman on July 26 and [.1] will have his work cut out for him, as the company faces big challenges, like customers considering new ways to connect and harness their computing power beyond traditional infrastructure. Monday’s announcement ends years of speculation about Cisco’s succession plan for current CEO Chambers. It also highlights a new trend at many large technology companies, such as Microsoft, Intel, and Qualcomm, which have all opted for internal choices to replace their current chiefs. Shares of Cisco closed higher $0.04 to $29.17.

We’re #1…

On Monday, after two decades, PIMCO lost its title as the world’s largest bond fund to Vanguard’s Total Bond Market Index fund. A year ago, the two funds were more than $100 billion apart but sagging performance and the departure of PIMCO’s co-founder Bill Gross caused investors to lose confidence and take their moolah elsewhere. The toppling of Pimco’s Total Return marks a significant turning point, as investors have recently started flocking towards plain-vanilla funds which follow market indexes rather than relying on star managers to pick winners like they have in the recent past.

Markets:

Asia: Asian markets closed mostly lower on Tuesday after Australia’s central bank cut its interest rate for the second time this year.

Europe: European markets advanced on Monday after data showed manufacturing in the Eurozone picked up in April.

U.S: U.S. markets closed higher for a second straight session on Tuesday, as a hand full of better-than-expected earnings reports put traders in the mode to buy. DJIA: +46.34 18,070.40 NASDAQ: +11.54 5,016.93 S&P: +6.20 2114.49

Word of the Day:

Redemption

The return of an investor’s principal in a fixed income security, like preferred stock or bond; or the sale of units in a mutual fund. Redemption occurs, in a fixed income security upon maturity or cancellation by the issuer. Redemption occurs, in a mutual fund when the units are sold by the investor.

Dinner or Drink:

The Savory Margarita Cocktail

1.5 oz.  Milagro Reposado Tequila

1 oz.  Fresh red bell pepper juice

1 oz.  Fresh lime juice

.75 oz.  Honey syrup (one part honey, one part water)

1 handful

Fresh cilantro

Garnish: 1 Lime wheel

Glass: Rocks
Add all the ingredients to a shaker and fill with ice

Shake, and strain into a rocks glass filled with fresh ice

Garnish with a lime wheel

Like our drink today, click here for more.


 

May 4

News:

Party like a Rock Star

Over the weekend, Warren Buffet and 40,000 Berkshire Hathaway (BRK-B) shareholders partied “Buffet style” at the company’s annual shareholders’ meeting, dubbed the “Woodstock of Capitalism.” This year marks Buffet’s 50th anniversary running the conglomerate, and all the attendees were ready to celebrate. As he does each year, Buffet and his second-in-command, Charlie Munger, fielded questions for almost five hours from shareholders, analysts, and journalists, including the question of the century: Who will be his successor? This year, Buffet changed his answer, saying he did not want his successor to be from the investment side only. He said he wanted his successor to have a balance between operations and investment management. Buffet didn’t name any names, so the mystery continues. Berkshire holds more than 80 companies, including Burlington Northern Railroad, Dairy Queen, Fruit of the Loom, and See’s Candies, and it has more than $115 billion of stock.

Heavy Heart

On Friday, David Goldberg, Chief executive of online-questionnaire provider SurveyMonkey and husband of Facebook Inc. Chief Operating Officer Sheryl Sandberg, died suddenly Friday night. He was 47 years old. Mr. Goldberg was a former Yahoo Inc. executive, who joined SurveyMonkey in 2009 and expanded the closely held company from 12 employees to more than 450. He was, most notably, the other half to Sheryl Sandberg, author of Lean In, and father of two.

Markets:

Asia:

Asian markets closed mixed after weak manufacturing data out of China spurred hope of additional stimulus for the country.

Europe:

The majority of Europe markets were closed for the Labor Day holiday.

U.S:

U.S. stocks rallied on Friday. Rising Treasury yields and improved economic data had investors feeling the need to buy. DJIA: +183.54 18.024.06 S&P: +22.78 2,108.29 NASDAQ: +63.97 5.005.39

Word of the Day:

Dividends

A taxable distribution of a portion of company’s earnings that are declared by a company’s board of directors and distributed to its shareholders at the declared date.

Dinner or Drink:

Brazilian Sangria Cocktail

Fresh seasonal fruit (recommended: strawberry, lime, orange, kiwi and passion fruit)

.25 oz.  Lucid Absinthe

1.25 oz. Cachaça

.5 oz. Spanish brandy

.5 oz. Orange liqueur

1 oz. Red wine

Glass: Wine

In a shaker, thoroughly muddle the fruit with the absinthe, cachaça, brandy and orange liqueur

Pour into a wine glass

Float the red wine on top and stir briefly

 


 

May 1

News:

You’re In Trouble

Black & Decker has agreed to pay a $1.58 million penalty to the U.S. Consumer Product Safety Commission (CPSC) and the U.S. Department of Justice. The penalty will settle allegations the company purposely forgot to report safety issues with its cordless electric lawnmowers. This is the fifth time in 19 years that Black and Decker has been penalized for failure to report product defects and safety problems as required by law. Companies are required under federal law to promptly report, generally within 24 hours, any safety issues to the CPSC. In this case, Black & Decker continued to sell cordless lawnmowers, sold under its brand name and under the Sear’s Craftsman brand, from 1995 until 2006, after consumers reported that the lawnmowers continued to run after they were supposed to stop.

For Sale, Maybe

Starwood Hotels & Resorts (HOT) Worldwide said it is exploring strategic alternatives, which means the company is looking to sell, buy, merge, or spin off chains into their own company. Starwood, whose chain of hotels include the St. Regis, Westin, Sheraton, and W Hotels brands, announced its board has decided to “explore a full range of strategic and financial alternatives to increase its shareholder value”. The company has hired investment bank Lazard to assist it with its strategic alternatives. Speculation about the hotel giant’s future has been swirling since February, when its chief executive resigned amid concerns of slow growth. Shares of Starwood, like most U.S. markets, closed lower on Thursday.

Markets:

Asia:

Asian stocks ended their week mixed, as investors reacted to Thursday’s Wall Street sell off and a batch of economic data from Japan and China.

Europe:

European markets closed flat, as investors weighted positive economic data against less than stellar corporate earnings.

U.S:

U.S shares tumbled on the last trading day of April. Wednesday’s bleak GDP report along with the Fed’s comments about the slowing U.S. economy spooked investors. DJIA: -195.01 17,840.52 187,840, NASDAQ -82.22 4,921.42 S&P 500: -21.34 2,085.51

Word of the Day:

Leading Indicator

A measurable economic factor that can indicate a change in the economy before it starts to follow a particular pattern or trend. For example, bond yields are thought of as leading indicators because bond traders anticipate and speculate trends in the economy. Leading indicators are used to help predict changes in the economy however, they are not always 100% accurate.

Dinner or Drink:

Off To The Races

2 Shiso leaves

2 oz. Buffalo Trace Bourbon

1 oz. Peach-Apricot-Chipotle Chile Agave Nectar

1 oz. Fresh lemon juice

2 dashes Peach bitters

Garnish:1 Shiso leaf     Glass: Double Old Fashion

In a shaker, muddle the shiso leaves

Add the remaining ingredients and fill with ice

Shake well and double-strain into a double Old Fashioned glass filled with fresh ice

Garnish with a shiso leaf

Like our drink, click here for more.

Have a safe and wonderful weekend, Ya’ll!        `

Mailing List

© 2013 Before 24 / Contact / Privacy Policy / Legal