October 28, 2013 - November 1, 2013
Welcome to Financial Buzz Market Weekly, reporting from the New York Stock Exchange, bringing you a review of this week's stock market.
With news of tame inflation and a mediocre job market, the Federal Reserve opted to leave in place its $85 billion bond purchasing program. Stocks declined modestly on the news, while bonds rallied and gold dropped slightly. However, analysts started quickly debating on when the program will be scaled back. Some analysts don’t see anything happening until well into 2014, while others see a December possibility.
Let’s take a look at some stocks.
Facebook Inc. (NASDAQ: FB) announced third quarter earnings with ad revenue up 66% with 49% of total ad revenue due to mobile advertisement. But during a press conference, Facebook said they do not plan on increasing the amount of ads and that younger teens are beginning to use the product less. The news sent shareholders selling.
DreamWorks (NASDAQ: DWA) reported earnings for its third quarter. DreamWorks’s feature film segment continues to be the primary driver for the company’s growth. After financials were released, DreamWorks proceeded to hit a new 52-week high during Thursday’s regular trading.
LifeLock Inc. (NYSE: LOCK), providing identify theft protection services, announced third quarter company results . LifeLock reported that the company now has 2.9 million clients, an increase of 21%, year-over-year and they also reported a 33% percent increase in revenue. LifeLock hit a new 52-week high shortly after the results were announced
And finally, 1-800-FLOWERS.COM(NASDAQ: FLWS) reported its first quarter Fiscal 14 results and revealed their smallest year-over-year gain, 2.9%, primarily due to the lack of gift orders during the summer season. The approaching holiday season in the upcoming quarter should help the
company rebound a bit.