Financial Buzz Presents the Weekly Market Wrap Up LIVE from the NYSE

November 25, 2013- November 29, 2013

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

This was a holiday week, with the markets closed Thursday for Thanksgiving and only open for a half day on Friday.  Nevertheless, that didn’t stop the upward march, with the NASDAQ composite index reaching 13 year highs.  Oil is settling near a six month low and gold prices are at their lowest levels since July.

Also helping is the University of Michigan’s consumer sentiment survey coming in higher than expected at 75.1 for November.  However, the Conference Board’s consumer confidence index for November remained anemic at 70.4, largely due to consumer’s worry of their income prospects and outlook for the job market. Consumer confidence is particularly important this time of year as it is seen a predictor of the success of the holiday season.

Housing permits
for both September and October showed strong gains, with October’s numbers reaching a 5 year high, which will later translate into increased construction activity. The Cash-Schiller index of home prices in 20 cities also climbed 13.3% in September compared to a year-ago.

Now let’s take a look at some stocks.

Splunk, Inc.’s (NASDAQ: SPLK) analytics platform,  Enterprise 6, was chosen by Intuit, the maker of QuickBooks®, and TurboTax®,  to be an enterprise-wide platform for operational intelligence. Intuit has been a customer of Splunk for a while and now their relationship deepens with the implementation of the Enterprise 6 platform.

Camtek Ltd., (NASDAQ: CAMT)  the 3D printer maker surged this week. Investors were reminded that Camtek will be delivering the first 3D printer, the GreenJet System, with capabilities of manufacturing Printed Circuit Boards for the commercial market.

Cubist Pharmaceuticals Inc. (NASDAQ: CBST) announced phase 3 results of their antibiotic drug, Ceftolozane/tazobactam, meant for treating complicated urinary tract infections. Trial statistics showed that the antibiotic was at least as good at treating infections as other currently available options.

Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) and Actavis announced this week that they have entered into a collaborative agreement whereby Merrimack will be utilizing their nanoliposomal technology to produce various products for Actavis.

And finally, The Men’s Warehouse (NYSE: MW)  sent over an acquisition proposal to Jos. A Bank (NASDAQ: JOSB) under which the Men’s Warehouse intends on acquiring all outstanding shares for $55. Jos. A Bank is currently evaluating the proposal.

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