December 13th, 2013 Financial Buzz Reports LIVE from the NYSE – This Week’s Market News

December 9th, 2013 – December 13th, 2013

Welcome to Financial Buzz Market Weekly, LIVE from the New York Stock Exchange, bringing you a review of this week’s stock market.

The major indexes gave back some of their recent gains with the S&P 500 Index reaching a one-month low, as improving economic data renewed talk of the Federal Reserve starting to taper its bond purchases.  Gold fell substantially, and bonds rallied on anticipation of higher interest rates. The volatility index (the VIX) is creeping upwards as well.

Many factors are coming together to point to a taper, including less contentious budget negotiations in Congress, making an additional shutdown unlikely, along with some strong economic data released this week.  Retail sales were released Thursday, showing a .7% increase for November, after rising .6% in October.  Much of the gain is due to automobile sales. 

The jobless claims report was a big surprise on the weak side, however, showing new claims for the week ending 12/7 up a huge 68,000 to 368,000.  On Friday, the producer price index fell .1% due to lower gasoline prices.  Excluding energy and food, the so called core producer price index was up .1%.

Now let’s take a look at some stocks.

Lululemon Athletica Inc. (NASDAQ: LULU) reported strong earning for their recent third quarter. Year-over-year, net revenue increased 20%, gross profit increased 17% and net income increased from $57.3 million to $66.1 million. Even though Lululemon was able to beat analysts’ forecasts, a weak outlook on the company caused shares to lose value.

Twitter, Inc. (NYSE: TWTR) broke through multiple ceilings this week; first setting a new high on Wednesday and then breaking it the next day. Twitter’s bull run this week was likely driven by the release of several new products, including a new feature called “tailored audiences”, which helps advertisers target potential customers on Twitter’s network. In addition, users can now send pictures privately through direct messaging, allowing Twitter to compete with other similar companies like Snapchat and Instagram.

Speaking of Instagram, the Facebook (NASDAQ: FB) subsidiary made waves today when they announced “Instagram Direct.” This feature allows users to send pictures and videos to other users. This new service will help Facebook and Instagram stay competitive with their rivals, Snapchat and Twitter.

LiveDeal, Inc.(NASDAQ: LIVE) released their second website catering to the Los Angeles area earlier this week. LiveDeal intends on using their platform to provide LA restaurants with the ability to create customized deals for their customers.

And finally, Advaxis, Inc.(NASDAQ: ADXS) announced on Monday that they have entered into a licensing agreement with Global BioPharma, Inc. to develop and commercialize Advaxis’s  ADXS-HPV in Asia. ADXS-HPV helps treat women with certain types of cervical cancer. The deal covers Asian territories in excess of 4 billion people, with over 200,000 annual diagnoses of cervical cancer.

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