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Feb 28

Highlights:

Ding Dong….

Amazon Inc acquired Ring, maker of video doorbells, in a deal valued at more than $1 billion. The acquisition, believed to be Amazon’s second largest after Whole foods, is the latest in a string of moves that strings of moves that signals the company’s eagerness to enter a staggering variety of markets. This latest deal plays to Amazon’s efforts to control the devices that power smart homes, an area which it is becoming a powerhouse in. Certain Ring doorbells and cameras already connect to Amazon’s virtual assistant Alexa.

Fashionista….

Walmart announced it will launch four new private apparel brands, including its first kids line. The four new lines, which debut Thursday, include lines for women, men, children, and plus size. According to the company the new lines are part its strategy to meet the needs of its customers. Walmart became the world’s largest retailer by appealing to the masses with a wide array of products offered at low prices, and clothing is already one of its prime categories. But the discount retailer has fallen below its competitors like Target, who has popular private brands like Cat & Jack and its Instagram-friendly collaborations with fashionista such as Victoria Beckham.

Markets:

Asia: Asian shares closed down on Wednesday as investors absorbed lower than expected economic data from China and Federal Reserve head Powell’s comments on Tuesday.

Europe: European markets finished lower on Tuesday as investors waded through the latest corporate news while keeping an eye on Federal Reserve Chairman Jerome Powell’s testimony.

U.S: U.S markets closed down on Tuesday after new Federal Reserve Chairman Powell indicated the Fed is ready to continue raising rates this year and may even pick up the pace. DJIA: -299.24 25,410.03 Nasdaq: -91.11 7,330.35 S&P: -35.32 2,744.28

Word of The Day:

Delisted

The removal of a listed security from an exchange. Removal of the stock can be either voluntary or involuntary, if the company is not in compliance with the listing requirements of the exchange.

Dinner or Drink:

The Contemporary

  • 2 parts Tequila
  • 1/4 part Agave Nectar
  • 2 dashes Orange Bitters
  • Garnish with Orange Peel

Combine all ingredients in mixing glass. Stir well. Pour over ice in a rocks glass. Garnish with orange peel.

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Feb 27

Highlights:

Here She Comes….

Diageo PLC, maker of Johnnie Walker, plans to roll out a female-branded version of its iconic scotch brand called Jane Walker. Jane Walker, a limited-edition version of Johnnie Walker black label, will go on sale starting next month. Diageo, the world’s largest spirts maker, has revamped its iconic Johnnie Walker logo for the first time in over a century to show a woman in boots mid-stride tipping her hat. Jane Walker, comes on the heels of the company’s new marketing campaign, called #LoveScotch, which is geared to bringing more woman into the scotch drinking club.

Free…

Today is National Pancake Day. Hop onto any participating IHOP today from 7 a.m. to 7 p.m. and receive a free short stack of buttermilk pancakes. The dine-in only deal is limited to one short stack per person while supplies last. A short stack of pancakes usually costs around $5.79. Although the pancakes are free, the company hopes customers will “make every stack count” and donate to the chain’s charity partners, Children’s Miracle Network Hospitals, the Leukemia & Lymphoma Society and Shriners Hospitals for Children.

Markets:

Asia: Asian stocks closed lower on Tuesday as investors took profits.

Europe: European shares closed higher on Monday as investors started the week off in a buying mood.

U.S: U.S. markets rallied on Monday led by  financial and technology stocks. DJIA: +399.28 25,709.27 S&P: +32.30 2,779.60 NASDAQ: +84.07 7,421.46

Word of The Day:

Risk-Return Tradeoff

The principal that potential return will rise with an increase in risk. Low levels of uncertainty (Low-risk) are associated with low potential returns, whereas high levels of uncertainty (high risk) are associated with potential high returns.

Dinner or Drink:

Buttermilk Pancakes

  • 2 cups all-purpose flour
  • 3 tablespoons sugar
  • 1 ½ teaspoons baking powder
  • 1 ½ teaspoons baking soda
  • 1 ¼ teaspoons kosher salt
  • 2 ½ cups buttermilk
  • 2 large eggs
  • 3 tablespoons unsalted butter, melted
  •  Vegetable, canola or coconut oil for the pan

PREPARATION

  1. Heat the oven to 325 degrees. Whisk flour, sugar, baking powder, baking soda and kosher salt together in a bowl. Using the whisk, make a well in the center. Pour the buttermilk into the well and crack eggs into buttermilk. Pour the melted butter into the mixture. Starting in the center, whisk everything together, moving towards the outside of the bowl, until all ingredients are incorporated. Do not overbeat (lumps are fine). The batter can be refrigerated for up to one hour.
  2. Heat a large nonstick griddle or skillet, preferably cast-iron, over low heat for about 5 minutes. Add 1 tablespoon oil to the skillet. Turn heat up to medium–low and using a measuring cup, ladle 1/3 cup batter into the skillet. If you are using a large skillet or a griddle, repeat once or twice, taking care not to crowd the cooking surface.
  3. Flip pancakes after bubbles rise to surface and bottoms brown, about 2 to 4 minutes. Cook until the other sides are lightly browned. Remove pancakes to a wire rack set inside a rimmed baking sheet, and keep in heated oven until all the batter is cooked and you are ready to serve

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Feb 26

Highlights:

New Dog

General Mills, maker of famous breakfast cereals, announced it will buy dog food maker Blue Buffalo for around $8 billion. The deal comes as General Mills seek to reinvest itself as American gravitate to healthy food choices and away from processed foods. Wilton, Connecticut based Blue Buffalo sells a wide variety of pet food products, including veterinary diet foods. The acquisition will catapult General Mills into the lucrative natural pet food market.

Hallelujah…

McDonald is bringing back its discounted Szechuan sauce- again. The Oak Brock based fast-food chain has been teasing on Twitter for weeks about the return of the sauce, made famous by the popular adult cartoon Rick and Monty. According to McDonald’s the sauce will be available starting at lunch on Monday. Customers will receive the sauce after making a qualifying purchase, which are determined by individual store. Both McDonald’s and fans are hoping Monday’s release goes smoother than its October rollout, when a small number of packets were released at a select number of McDonald’s locations causing near riot like conditions at some stores.

Markets:

Asia: Asian markets closed higher on Monday after a positive handoff from the U.S.

Europe: European shares closed down on Friday as investors reacted to earnings and waited for a report from the Federal Reserve.

U.S: U.S. markets closed higher on Friday after the Federal Reserve report highlighted the strength of the economy. DJIA: +347.51 25,309.99 NASDAQ: +127.31 7,337.39 S&P: +43.34 2,747.30

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:

Lynchburg Lemonade

1 part Jack Daniel’s® Tennessee whiskey
1 part sweet and sour mix
1 part triple sec
4 parts Sprite® soda

Add ice and stir. Garnish with lemon slices and cherries.

 

Feb 22

Highlights….

Bye-Bye….

On Wednesday, Ford Motor Company announced Raj Nair, president of the automaker’s North America division, is leaving the company after it found instances of inappropriate behavior. According to the company, an internal investigation found behavior by Nair breached the company’s code of conduct. Nair departure is effective immediately. Nair, had been North American president since June 2017 and was previously the company’s chief technology officer.

New Me

Priceline Group will now be called Booking Holdings, a name the company says better reflect the nature of its businesses. The company will also undergo a change of ticker from PCLN to BKNG effective February 27. The Norwalk, Connecticut company collection of websites includes Priceline.com, Booking.com, Kayak.com, and OpenTable.com.

Markets:

Asia: Asia markets closed lower Thursday, after Wednesday’s release of the Federal Reserve January meeting minutes.

Europe: European markets closed slightly higher on Wednesday as investors turned their attention to economic data and corporate earnings.

U.S: U.S. stocks closed lower on Wednesday after the Federal Reserve minutes showed the committee will continue to gradually raise interest rates as the economy continues to hum along. DJIA: -166.97 24,797.78 Nasdaq: -16.08 7218.23 S&P: -14.93 2701.33

Word of the Day:

Dollar Index:

A weighted index which tracks the US Dollar against a basket of other world currencies

Dinner or Drink:

Warped Thursday

6 oz. cherry cola
5 oz. vodka
1/4 packet Kool-Aid® Tropical Punch mix

 

Empty half a can of cherry coke, pour the vodka into the can, then pour in the Kool-Aid. Alternatively, use a 12oz glass

Feb 16

Highlights:

Where’s The Beef

McDonald’s announced it will drop cheeseburgers from its iconic Happy Meal as the company seeks to cut down on the calories, sodium, saturated fat, and sugar. Cheeseburgers will still be available off menu and customers will have to specifically ask for them. Chocolate milk will also be cut from the menu, but will also be available off menu. The Happy Meal has long been a target of health advocates who have linked it to childhood obesity. McDonald’s has made tweaks to the childhood delight through the years, including adding fruit and cutting the size of its fries. The company also removed the soda drink from the Meal and replaced it with apple juice. Since the change orders for the Happy Meal have fallen 14 percent.  The latest changes will take effect by June of this year.

Fly Away

Southwest Airlines announced it will add five new non-stops routes. Several of the new routes will put Southwest in the middle of highly competitive markets. The new routes include round trip service from Atlanta to Nashville, Los Angeles to Tampa, Cincinnati-Denver, Kansas City to Raleigh/Durham, and Hartford to St. Louis. Southwest has also reduced service from several city-pairs cutting weekday flights and offering Saturday only service.

Markets:

Asia: Most Asian markets are closed for the New Year holiday, however the ones that were open closed higher after a positive handoff from Wall Street.

Europe: European shares closed higher on Thursday as investors digested a slew of corporate earnings.

U.S: U.S. indexes closed higher despite rising bond yields. DJIA: +306.88 25,200.37 Nasdaq: +112.81 7256.43 S&P: +32.57 2,731.20

Word of The Day:

Dow Jones Industrial Average (DJIA)

A price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ.  Invented by Charles Dow back in 1896.

Dinner or Drink:

Classic Martini

  • 4 ounces Beefeater gin
  • ¾ ounce Noilly Prat dry vermouth
  • 1 lemon

 

  • Holding a large (preferably 1″) cube of ice in the palm of your hand, use the back of a stirring spoon to crack it into large pieces; place in a mixing glass. Repeat with enough ice to fill glass. Add gin and vermouth and, using a bar spoon, rapidly stir 50 times in a circular motion (the outside of the shaker will become very cold and frosty).
  • Strain martini through a Hawthorne strainer (or a large slotted spoon) into a chilled Nick and Nora glass. Strain any excess cocktail into a sidecar set over ice (or a small glass in a bowl of ice).
  • Using a small serrated knife, remove a 1″ piece of peel from lemon; it should be stiff enough to provide some resistance (some white pith is okay). Twist peel over drink to express oils, then rub around rim of glass. Float peel, yellow side up, in martini.

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Have a safe and wonderful weekend, Ya’ll!

Feb 14

Highlights:

New…

Chipotle Mexican Grill announced Tuesday Brian Niccol will head the struggling chain. Niccol currently services as the Chief Executive of Taco Bell. Chipotle founder, Steve Ellis, announced late last year he would step down as Chief Executive and become executive chairman allowing an outsider to come in and address Chipotle’s battles with declining customers visits and food-safety. Niccol will start his new job on March 5th.

Consolidation…

Wholesale chain Sam’s Club, announced it will consolidate its membership structure and improve is e-commerce offering. The moves are part of a strategic shift by Sam’s new chief executive, as he tries to turn around a business that has underperformed both its parent company, Walmart, and rivals like Costco.  Sam’s Club will now offer two membership options, one for $45 a year and Sam’s Plus for $100 a year. This is down from the three options the chain has currently. The company will also offer free shipping on 95 percent of the items it sells online, with no minimum order size for Sam’s Plus members. The new direction comes after Sam’s club laid off nearly 10,000 workers and shutdown 63 stores earlier this year.

Markets:

Asia: Asian shares closed slightly higher as the dollar slid to multi-month lows against the yen.

Europe:  European shares closed slightly lower on Tuesday after a flurry of corporate earnings failed to lift investors ahead of Wednesday’s critical U.S. inflation report.

U.S: U.S markets closed higher on Tuesday as major averages continue to recover from last week correction levels. DJIA: +39.18 24,640.45 NASDAQ: +31.55 7,013.51 S&P: +6.94 2,662.94

Word of The Day:

Money Manager

A business or bank responsible for managing an individual or institutional investor’s securities portfolio. Typically for a fee, the money manager, has the fiduciary duty to choose and manage investments which are prudent for his or her clients, including developing an investment strategy, and buying and selling securities.

Dinner or Drink:

Pink Heart

1/2 oz. creme de cacao
1/2 oz. Chambord® raspberry liqueur
milk

Pour the Chambord and creme de cacao into a rocks or old-fashioned glass filled with ice. Fill with cream or milk.

Happy Valentine’s Day, Ya’ll!

Feb 13

Highlights:

So Long

Barnes & Noble is laying off staff after the retail suffered another year of declining holiday sales. The news caught some by surprise as workers showed up for work on Monday only to be told they no longer had a job. Holiday same store sales for the bookstore dropped 6.4 percent and online dropped 4.5 percent. The New York based retailer has increasingly faced pressure form Walmart and e-commerce behemoth Amazon, both have managed to take business away from the company.

No Distro

J.C Penny is closing its distribution center in Wauwatoa, Wisconsin. The closure will eliminate 670 jobs. The center will begin winding down operations this summer as part of the retailer’s ongoing effort to align the company’s supply chain network and customer care operations. As it stands the company’s supply chain network is oversized compared with the department store’s overall footprint.

Markets:

Asia: Asian stocks closed higher as investors regained confidence in the global economic picture.

Europe: European markets closed on a high note as markets seem to be getting back to normal after last week’s multiyear record drops.

U.S: U.S markets closed higher on Monday as the major indexes rebounded from their worst weekly performances in two years. DJIA: +410.37 24,601.27 NASDAQ: +107.47 6,981.96 S&P: +36.45 2,656.00

Word of The Day:

Market Share:

The percentage of an industries total sales, which is earned by a company within that industry over a specific time period. Market share is calculated by taking the company’s total sales over a specific time period and dividing it by the total sales of the industry over the same period. Market share gives a general idea of the size of a company in relation to its overall market and competitors.

Dinner or Drink:

Easy Money

1 oz. white rum
1/2 oz. dark rum
1/2 oz. coconut rum
1 oz. orange juice
1/4 oz. lime juice
2 tbsp. mango sherbet
1 tsp grenadine syrup

Blend all ingredients (except grenadine) briefly with half a glassful of crushed ice. Sprinkle grenadine on top, garnish with fruit, and serve.

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Feb 9

Highlights:

I want it now….

Amazon has launched free two-hour delivery from Whole Foods stores to its Prime members in four cities. Customers of the $99-year Amazon Prime delivery can now order fresh produce, meat, seafood, flowers and other items from their local Whole Foods stores. The service is available in Austin, Cincinnati, Dallas, and Virginia Beach. The service is available only during Whole Foods business hours, generally 8 a.m. to 10 p.m. To access the service Prime members can go to their accounts on either the Amazon website or Prime Now app.

Launch

Amazon is preparing to launch a delivery service for businesses, positioning it to directly compete with UPS and FedEx. The new service, called Shipping with Amazon, will launch in the next three weeks in Los Angeles with third-party merchants that sell goods via Amazon’s website. If all goes well, Amazon aims to expand the service to more cities this year. While the program is piloted with the company’s own vendors it expects to eventually open up the service to other business.

Markets:

Asia: Asian markets closed out the week lower following Thursday’s rout in the stock markets.

Europe: European markets closed lower after the Bank of England said it will likely raise interest rates at a swifter pace.

U.S:  Us markets tumble down again on Thursday as rising interest rates sent the Dow Jones and S&P into correction territory. DJIA: -1032.89 23,860.46 Nasdaq: -274,82 6771.16 S&P: -100.66 2581.00

Word of The Day:

Correction

A 10% reversal in the price of a stock or bond.

Dinner or Drink:

Ski Season

2 scoops of ice cream
2 oz. half-and-half
1 oz. cherry juice
3 oz. Frangelico® hazelnut liqueur
3 cherries

Frappe all the above ingredients EXCEPT the cherries pour into the mason jar and top with the cherries.

Have a safe and wonderful weekend, Ya’ll!

 

 

Feb 8

Highlights:

Beautiful Baby

On Wednesday, Gerber announced the new Gerber Baby and he is a doll. Lucas Warren is an 18-month cutie with a contagious smile. He is the first child with Down syndrome to become Spokesbaby of the year in the contest’s 91-year history.  According to the company, they choose a baby who exemplifies Gerber’s longstanding believe that every baby is a Gerber baby. Lucas is from Dalton Georgia and was picked from more than 140,000 entries. The contest was started soon after Gerber was founded in 1927, when it put out a call looking for a baby it could feature in its ads.

Yummy….

Yum Brands announced it will team up with Grubhub to expand home delivery of its KFC and Taco Bell brands. Grubhub will be responsible for the delivery and online ordering, using its delivery people and technology. The companies declined to say how many KFC and Taco Bell will participate in delivery and when it will officially rollout the service. As part of the deal, Yum Brands will buy $200 million of Grubhub stock and a Yum executive will join Grubhub’s board.

Markets:

Asia: Asian stocks closed higher on Thursday as investors get used to higher volatility in the global markets.

Europe: European shares closed higher on Wednesday as markets try to shake off the recent volatility,

U.S: U.S markets closed slightly lower as investor wonder when money will start to move out of stocks and start chasing higher yields in bonds. DJIA: -19.42 24,893.35 Nasdaq: -63.90 7,051398 S&P: -13.48 2,681.66

Word of The Day:

Securitization

The process in which an issuer creates a financial instrument by combing other financial assets and repackages it to investors. Any type off financial asset can be encompassed in the securitization process. Securitization helps promote liquidity in the markets.

Dinner or Drink:

The Green Giant Cocktail

  • 4 Sugar snap pea pods, broken in half
  • 8 to 10 Tarragon leaves
  • .75 oz. Simple syrup (one-part sugar, one-part water)
  • 2 oz. Hayman’s Old Tom Gin
  • .5 oz. Dry vermouth
  • .75 oz. Lemon juice

Garnish: Sugar snap pea pod   Glass: Rocks

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Feb 6

Highlights:

Pop-Up

Macy’s is opening its doors to pop-up mini stores. The new program called The Market@Macy’s, will give pods of space to a handful of brands and companies on the ground floor of Macy’s stores to promote and sell their products. The pop-up’s will give Macy’s customers more variety to their shopping. For the company’s brand partners, it gives them an opportunity to have the brick and mortar presence they may lack. Retailers of all shapes and sizes have turned to pop-ups and partnerships to create variety in their stores and expose new brands to customers. Macy’s new pop-ups will run a bit differently than most. Macy’s sales associates working for the Market will work exclusively to service the products allowing partners to experience retail selling without the retail experience. The Market @Macy’s officially opened Monday in 10 cities. The company will reevaluate the idea in six months and decide if it will expand the program to other cities.

New Guy

On Monday, the Federal Reserve got a new chairman. Jerome Powell was sworn in as the 16th chairman of the Federal Reserve. Powell succeeds Janet Yellen, the first woman to lead the nation’s central bank in its 100-year history. President Trump picked Powell after deciding to break with the recent tradition and not offering Yellen a second four-year term. Powell, an investment banker, has served on the Federal Reserve board since 2012. He will serve as head of the Federal Reserve until February 2022.

Markets:

Asia: Asian shares tumbled following yesterday’s rout on Wall Street.

Europe: European stocks extended losses Monday, as traders worried inflation may start to rear its ugly head.

U.S: U.S markets plunge after the Dow Jones and other indexes hits below the 50-moving average, a key technical level. DJIA: -1175.21 24,345.75 Nasdaq: -273.42 6,967.53 S&P: -113.19 2,648.94

Word of The Day:

Credit Risk

The risk investors could lose their principal or financial reward when a borrower fails to repay a loan or otherwise meet a contractual obligation. Investors are compensated for assuming credit risk by higher interest payments from the borrower or issuer of a debt obligation

Dinner or Drink:

Punch a la Washington Hotel

1 oz. dark rum
1 oz. white rum
1/4 oz. passion-fruit syrup
2 3/4 oz. passion-fruit juice
1/2 oz. lime juice

Shake well over ice cubes in a shaker, and strain into a large highball glass over crushed ice.

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Feb 5

Highlights:

We Really Want You

Broadcom sweetened is takeover offer of Qualcomm in a deal worth more than $121 billion. The new offer ups the price Broadcom would pay per share of Qualcomm to $82 in the mixed cash and stock deal. Initially, Broadcom offered $70 a share in November, a 50% premium over Qualcomm’s share price on November 2. Qualcomm’s board rejected the deal. A deal between the two companies would affect a wide swath of the markets for chips used in data centers and smartphones. Broadcom is the market leader for chips used in data centers and smartphones including Wi-Fi and Bluetooth and Qualcomm is the leader in chips that manage cellular communication in smartphones. Combined, the two companies would form the No. 3 chip maker by revenue, behind Intel and Samsung Electronics.

Trouble

In a rare move, The Federal Reserve has imposed penalties on Wells Fargo. The penalties included a limit on the amount of growth the company can achieve through customer deposits and add new directors to its board. The penalties come after the Federal Reserve concluded Wells Fargo had been growing without proper risk controls in place. The Fed did note it had seen some improvements in Wells Fargo’s risk management but expects the bank to take further steps.  As part of the cease and desist order, the bank will be required to tell the Federal Reserve within 60 days what it had already done and how it plans to enhance its board’s governance oversight. In response to the order, Wells Fargo announced it will replace three current board members by April and a fourth by the end of 2018.

Markets:

Asia: Asian markets tumbled on Monday as the global sell off continues,

Europe: European shares closed on Friday as the selloff in U.S. Stocks trickled into overseas markets.

U.S: U.S. Markets tumbled on Friday after the much-anticipated memo from the House Intelligence Committee and the solid jobs report had investors wondering if there could be four rate hikes this year. DJIA: -665.75 25,520.96 Nasdaq: -144.92 7,240.95 S&P: -59.85

Word of The Day:

Buyback

The purchase by a company of its outstanding shares which will reduce the number of shares on the open market.

Dinner or Drink:

Scary Mary

1 part of rum
1 part of bourbon whiskey
1 part of herbal liqueur

Layer on top of each other and shoot back

 

 

 

 

 

 

 

Feb 2

Highlights:

Now Hiring….

On Friday, the Department of Labor released their monthly jobs report. According to the report the overall economy added 200,000 jobs in January, beating analyst expectations of 180,000. The unemployment rate is at 4.1%.

We Got It

Fox and the NFL have agreed on a five-year deal that will bring Thursday night football games to the network. The deal is worth a little more than $3 billion. Fox, who already broadcasts NFC games on Sundays, will produce all the games under the deal. Thursday night games had previously been televised by CBS and NBC. Under the deal Fox will televise 11 games between Weeks 4 and 15, with simulcasts on the NFL Network and Fox Deportes.

Markets:

Asia: Asian shares closed out the week under pressure after a mixed closed on Wall Street.

Europe: European indexes closed lower on Thursday led by healthcare and real-estate companies.

U.S: U.S. markets closed mixed on Thursday as investors digested corporate earnings and Treasury yields continued to increase making them more attractive than stocks. DJIA: +37.32 26,186.71 Nasdaq: -25.62 7,385.86 S&P: -1.83 2,821.98

Word of The Day:

Simple IRA:
A retirement plan established by either employers or self-employed individuals. The plan allows eligible employees to contribute part of their pretax compensation. Meaning the tax on the money the participant puts in is deferred until it is distributed.

Dinner or Drink:

Birthday Martini

Here’s what you’ll need:

2 ounces whipped vodka
1.5 ounces amaretto
1-ounce white chocolate liqueur
2 ounces half and half
Honey and sprinkles for garnish

Begin with two shallow dishes or plates. To one, add a teaspoon of honey. To the other, add the sprinkles. First, rim the edge of the martini glass in the honey, and then dip it in the sprinkles. Set aside.

In a cocktail shaker filled with ice, combine the vodka, amaretto, white chocolate liqueur, and half and half. Shake vigorously. Strain into your prepared martini glass.

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Feb 1

Highlights:

The Good and The Bad

On Wednesday, social media giant Facebook reported its earnings and revenue for the 4th quarter of 2017. The company reported earnings per share of $2.21, beating analyst expectations of $1.95. Daily active user, 1.4 billion and monthly active user, 2.13 billion both met analyst expectations. There was something in the report investors are concerned about. The number of daily active user declined for the first time in the history of the company. Hmmm…. Could people be spending less time on Facebook and more time on other social media platforms or could people tired of the Facebook madness????

Goodbye…

Sears Holdings laid off 220 employees primarily at the company’s corporate headquarters in Illinois. The job cuts impacted business units and roles across the retail organization. The layoffs are part of the department store chain’s ongoing restructuring plan announced earlier this month as the company tries to streamline operations and gets back to profitability. Earlier this month Sears announced its plans to close more than 100 locations under the Sears/Kmart banner, impacting hundreds of other part-time positions as stores begin to go dark.

Markets:

Asia: Asian shares closed mostly higher on Thursday after a bumpy trading week.

Europe: European markets closed lower on Wednesdays as investors digested corporate earnings and waited patiently for the Federal Reserve’s interest rate decision.

U.S: U.S. markets closed higher on Wednesdays after a solid jobs report and the Federal Reserve’s decision to keep interest rates the same. DJIA: +72.50 26,149.39 Nasdaq: +9.00 7,411.48 S&P: +1.38 2,823.81

Word of The Day:

Export

A function of international trade where goods are produced in one country and shipped to another for future sale or trade.

Dinner or Drink:

Purple People Eater

2 oz. Three Olives® vodka
1 oz. DE Kuyper® Island Blue Pucker schnapps
1 oz. DE Kuyper® Raspberry Pucker schnapps
3 oz. cranberry juice

Shake ingredients in a cocktail shaker with ice. Strain into glass.

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