NEW YORK, January 4, 2019 /PRNewswire/ --
U.S. markets turned bearish to begin the new year, led by Apple
Inc.'s (NASDAQ: AAPL) stock price plunge. The market remained
relatively neutral at the beginning of the week, but stocks quickly
plummeted on Wednesday. Even still, throughout Wednesday, stocks
quickly rebounded as the Dow Jones Industrial Average closed
higher. Shortly after the closing bell, Apple's Chief Executive
Officer Tim Cook released a letter
to shareholders regarding its revenue guidance slash for the next
quarter. Cook said Apple expects to see revenue of approximately
USD 84 Billion compared to its
previous guidance of USD 89 Billion
to USD 93 Billion. He also explained
that the lower than expected estimates were a result of economic
weaknesses in Greater China, as
the Company faced a 100% revenue decline year over year across its
iPhone, Mac and iPad products in the country. Apple's disappointing
guidance caused U.S. stocks to plunge on Thursday morning, as the
Dow Jones Industrial Average fell by as much as 661.27 points, or
2.8% intraday on Thursday. The Nasdaq Composite also edged lower,
falling by 190.95 points, or 2.8%, while the S&P 500 Index
declined by 60.96 points or 2.4%. Netflix, Inc. (NASDAQ: NFLX),
MedEquities Realty Trust, Inc. (NYSE: MRT), Bristol-Myers Squibb
Company (NYSE: BMY), Cloudera, Inc. (NYSE: CLDR), Ford Motor
Company (NYSE: F)
"We turned the calendar but we didn't turn the trend in the
markets," said Eric Wiegand, Senior
Portfolio Manager at U.S. Bank Private Wealth Management. "We have
continued to witness a deceleration in global growth. As we started
this year, the purchasing manufacturers' index data from around the
world indicated perhaps a pace of softening that caught investors
by surprise. That's reinforced by today's release of the ISM
manufacturing numbers."
Netflix, Inc. (NASDAQ: NFLX) announced on Wednesday that
Spencer Neumann was appointed as the
Company's Chief Financial Officer. Neumann will succeed
David Wells, who served as Chief
Financial Officer since 2010. Neumann previously held the Chief
Financial Officer position at Activision Blizzard (NASDAQ: ATVI)
and senior positions at The Walt Disney Company (NYSE: DIS).
Neumann is expected to focus on the Company's production finances.
Netflix shares edged 3% lower following the announcement.
MedEquities Realty Trust, Inc. (NYSE: MRT) shares jumped
on Wednesday after it announced a definitive merger agreement in
which Omega Healthcare Investors, Inc. (NYSE: OHI) said it will
acquire the Company. MedEquities shares rose by 44.2% following the
announcement. The transaction represents an enterprise value of
approximately USD 600 Million for
MedEquities and will further diversify Omega's assets and
operators. MedEquities' shareholders will receive 0.235 Omega
common shares plus USD 2.00 in cash
for each share of MedEquities common stock, representing a value of
USD 10.26 per MedEquities' share.
Bristol-Myers Squibb Company (NYSE: BMY) shares slipped
by as much as 15% on Thursday morning after it announced plans to
merge with Celegen Corporation (NASDAQ: CELG). Bristol-Myers said
it would acquire Celgene in a cash and stock transaction valued at
approximately USD 74 Billion. The
Company said the two will focus on addressing the needs of patients
with cancer, inflammatory and immunologic disease and
cardiovascular disease. Bristol-Myers is expected to retain 69%
ownership of the Company, while Celgene maintains the remaining
31%. The transaction is expected to close in the third quarter of
2019.
Cloudera, Inc. (NYSE: CLDR) announced on Thursday that it
completed its merger with Hortonworks, Inc. Cloudera shares plunged
by 9% after the opening bell on Thursday. Cloudera will look to
deliver a first enterprise data cloud on a 100% open-source data
platform through the acquisition. Hortonworks shareholders received
1.305 common shares of Cloudera for each Hortonworks stock
owned.
Ford Motor Company (NYSE: F) announced its December sales
results on Thursday. Ford reported declining sales, however, the
automaker still beat expectations. The Company reported that unit
sales for December fell by 8.8% year over year while analysts
forecast a 10% decline year over year. For the month, Ford reported
that retail sales by fell 4.8% to 167,705, fleet sales dropped by
19.5% to 53,069, car sales floundered by 27.8% to 34,950, SUV sales
tumbled by 4.4% to 79,225 and truck sales shrank by 3.8% to
106,599. December U.S. sales decreased by 8.8% to 220,774. Overall,
Ford's full-year sales totalled 2.49 million, which fell by
3.5%.
Follow us on Twitter for real time Financial News Updates:
https://twitter.com/FinInsiders
Follow and talk to us on Instagram:
https://www.instagram.com/financialinsiders/
Facebook Like Us to receive live feeds:
https://www.facebook.com/financialinsiders/
About FinancialInsiders.com
Financialinsiders.com, a leading financial news informational
web portal designed to provide the latest trends in Market News,
Investing News, Personal Finance, Politics, Entertainment, in-depth
broadcasts on Stock News, Market Analysis and Company Interviews. A
pioneer in the financially-driven digital space, video production
and integration of social media, FinancialInsiders.com creates 100%
unique original content. FinancialInsiders.com also provides
financial news PR dissemination, branding, marketing and
advertising for third parties for corporate news and original
content through our unique media platform that includes Newswire
Delivery, Digital Advertising, Social Media Relations, Video
Production, Broadcasting, and Financial Publications.
Please Note: Financialinsiders.com is not a financial advisory
or advisor, investment advisor or broker-dealer and do not
undertake any activities that would require such registration. The
information provided on http://www.Financialinsiders.com (the
"site") is either original financial news or paid advertisements
provided [exclusively] by our affiliates (sponsored content),
Financialinsiders.com, a financial news media and marketing firm
enters into media buys or service agreements with the companies
which are the subject to the articles posted on the Site or other
editorials for advertising such companies. Financialinsiders.com
has not been compensated directly by any of the companies mentioned
here in this editorial. We are not an independent news media
provider and therefore do not represent or warrant that the
information posted on the Site is accurate, unbiased or complete.
Financialinsiders.com receives fees for producing and presenting
high quality and sophisticated content on Financialinsiders.com
along with other financial news PR media services.
Financialinsiders.com does not offer any personal opinions or bias
commentary as we purely incorporate public market information along
with financial and corporate news. Financialinsiders.com only
aggregates or regurgitates financial or corporate news through our
unique financial newswire and media platform. For this release,
Financialinsiders.com has not been compensated for financial news
dissemination and PR services by any parties. Our fees may be
either a flat cash sum or negotiated number of securities of the
companies featured on this editorial or site, or a combination
thereof. The securities are commonly paid in segments, of which a
portion is received upon engagement and the balance is paid on or
near the conclusion of the engagement. Financialinsiders.com will
always disclose any compensation in securities or cash payments for
financial news PR advertising. FinancialInsiders.com does not
undertake to update any of the information on the editorial or Site
or continue to post information about any companies the information
contained herein is not intended to be used as the basis for
investment decisions and should not be considered as investment
advice or a recommendation. The information contained herein is not
an offer or solicitation to buy, hold or sell any security.
Financialinsiders.com, members and affiliates are not responsible
for any gains or losses that result from the opinions expressed on
this editorial or Site, company profiles, quotations or in other
materials or presentations that it publishes electronically or in
print. Investors accept full responsibility for any and all of
their investment decisions based on their own independent research
and evaluation of their own investment goals, risk tolerance, and
financial condition. Financialinsiders.com. By accessing this
editorial and website and any pages thereof, you agree to be bound
by the Terms of Use and Privacy Policy, as may be amended from time
to time. None of the content issued by Financialinsiders.com
constitutes a recommendation for any investor to purchase, hold or
sell any particular security, pursue a particular investment
strategy or that any security is suitable for any investor. This
publication is provided by Financialinsiders.com. Each investor is
solely responsible for determining whether a particular security or
investment strategy is suitable based on their objectives, other
securities holdings, financial situation needs, and tax status. You
agree to consult with your investment advisor, tax and legal
consultant before making any investment decisions. We make no
representations as to the completeness, accuracy or timeless of the
material provided. All materials are subject to change without
notice. Information is obtained from sources believed to be
reliable, but its accuracy and completeness are not guaranteed. For
our full disclaimer, disclosure and Terms of Use, please visit:
http://www.Financialinsiders.com.
Media Contact:
info@Financialinsiders.com
+1-212-381-6028
SOURCE FinancialInsiders.com