WATCH: 55-year-old stockbroker learns basic coding in 5 minutes

For the uninitiated, writing code seems like black magic. But as 55-year-old Kenny Polcari will find out, getting into it is not as scary and difficult as it may seem.

Late last June, cloud communications company Twilio held a “Code Jam” event at the New York Stock Exchange floor for its IPO (initial public offering). A trio of developers were set up with computers to program whatever struck their fancy. App after app, their activities were streamed live via Amazon’s Twitch, Business Insider reported.

Polcari has been a stockbroker for 35 years and simply followed his curiosity when he checked out the Twilio set-up before they started streaming.

To his surprise, he found that writing basic code was not so mysterious as most people think it to be. With guidance from Twilio developer evangelist Rob Spectre, Polcari was able to write two simple apps with just a few lines of code.

After the experience, he said he now has a better understanding of how coding works.

For anyone interested to learn coding, services like Coursera and Udacity offer free coding classes. Companies like Apple and Google have also begun offering coding courses for children and adults alike.  Alfred Bayle

source: technology.inquirer.net

Hewlett-Packard board approves split into two companies

Hewlett-Packard Co said its board had approved the previously announced split of the company into two separate listed entities - computers and printers, and corporate hardware and services.

Hewlett-Packard said on Thursday that it expected its split into Hewlett Packard Enterprise Co and HP Inc to be completed on Nov. 1.

A day later, Hewlett Packard Enterprise, comprising the corporate hardware and service business, will start trading on the New York Stock Exchange under the ticker symbol "HPE".

Hewlett-Packard, which will be renamed HP and comprise the computers and printers business, will continue to trade under its current ticker symbol.

Hewlett-Packard shareholders will get one share of Hewlett Packard Enterprise for each share held as of Oct. 21.

The tax-free distribution will be on a pro-rata basis, the 75-year-old company said.

Hewlett-Packard announced the split in October 2014 after years of struggling to adjust to the post-PC computing era.

Hewlett-Packard said it expected Hewlett Packard Enterprise to start trading on a "when issued" basis on or around Oct. 19 under the ticker symbol "HPE WI".

Hewlett-Packard shares were unchanged at $25.61 in premarket trading on Thursday.

Up to Wednesday's close, the stock had fallen about 27 percent since Oct. 3, the last trading day before the company announced the split.  — Reuters

Wall St retreats after two-day advance; jobs data mixed

NEW YORK - U.S. stocks fell on Friday following a two-day rally as December's jobs report gave a mixed view of the economy, with financial shares leading the way lower.

All three major indexes posted slight losses for the week and fell back into negative territory for 2015.

U.S. nonfarm payrolls rose in December, topping Wall Street expectations, but wages unexpectedly fell.

"There was this tale of two cities, with very strong job gains but on the flip side a continued real moderation in wage growth. I think the market looked at that and was sort of confused about what that means," said Burt White, chief investment officer for LPL Financial in Boston.

"I actually think it's the best-case scenario. It showcases the U.S. economy is continuing to grow and repair the labor market, but at the same time, the muted wage growth means the Fed's going to stay lower for longer."

Fourth-quarter results from S&P 500 companies pick up next week, including JPMorgan Chase & Co and Wells Fargo . Both were among the biggest drags Friday, with JPMorgan down 1.7 percent at $59.34 and Wells Fargo down 1.6 percent at $52.68. The S&P financial index lost 1.3 percent, the day's worst-performing major sector.

The Dow Jones industrial average fell 170.5 points, or 0.95 percent, to 17,737.37, the S&P 500 lost 17.33 points, or 0.84 percent, to 2,044.81 and the Nasdaq Composite dropped 32.12 points, or 0.68 percent, to 4,704.07.

Friday's decline followed two days of more than 1 percent gains for the market, a rally fueled in part by minutes from the last Federal Reserve meeting, which reassured investors the central bank was in no hurry to start raising interest rates.

For the week, the Dow and Nasdaq were down 0.5 percent, while the S&P 500 lost 0.6 percent.

Oil prices resumed their slide after two days of relative calm, with Brent and U.S. crude lowest since April 2009 on persistent worry over a supply glut. The S&P energy sector fell 0.8 percent.

A number of retail shares fell after reporting December sales and providing forecasts. The S&P retail index ended down 1.7 percent.

Bed, Bath & Beyond dropped 6.7 percent to $74.09 and was among the S&P 500's biggest percentage decliners after the retailer forecast fourth-quarter earnings at the low end of expectations.

Macy's shares fell 2.8 percent to $65.92 a day after it said it would close 14 stores and cut some jobs.

About 6.3 billion shares changed hands on U.S. exchanges, below the 7.1 billion average for the last five sessions, according to BATS Global Markets.

NYSE decliners outnumbered advancers 1,916 to 1,139, for a 1.68-to-1 ratio; on the Nasdaq, 1,811 issues fell and 927 advanced, for a 1.95-to-1 ratio.

The S&P 500 posted 43 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 75 new highs and 45 lows.  — Reuters

Wall Street little changed as Ukraine, China concerns brushed off

NEW YORK - U.S. stocks finished little changed on Wednesday, with the Nasdaq up for the first session in five, as investors grappled with the evolving situation in Ukraine but shrugged off concern over weakness in China's economy.

The EU agreed a framework for its first sanctions on Russia since the Cold War, a stronger response to the Ukraine crisis than many had expected and a mark of solidarity with Washington in the effort to make Moscow pay for seizing Crimea.

London copper prices, a proxy for economic health due to the metal's broad industrial use, hit their lowest since July 2010 on concerns about credit problems in China, but later rebounded. Copper has fallen 7.7 percent over four sessions. Spot gold hit a six-month high on its safe-haven appeal.

"The situation in Ukraine and a slowing China are going to matter, but they haven't mattered yet. Commodity prices are falling and that is tied to demand," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

However, money is on the sidelines. Investors, worried about missing another leg up in the five-year U.S. equity bull market, are keeping indexes near recent highs.

"People think they missed out and the market is going to do the same it did last year," she said. "There's more retail money flowing into the system, supporting stocks."

The Dow Jones industrial average fell 11.17 points or 0.07 percent, to 16,340.08, the S&P 500 gained 0.57 points or 0.03 percent, to 1,868.2 and the Nasdaq Composite added 16.144 points or 0.37 percent, to 4,323.332.

Geopolitical developments have moved to the forefront this week on a lack of major corporate results and market-moving economic data. The S&P 500 rose 30 percent last year and, after a recent decline, hit a record high last Friday.

"We've climbed so far, to continue to climb is definitely going to be a see-saw move," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.

Herbalife fell 7.4 percent to $60.57 after the company said the U.S. Federal Trade Commission had opened an inquiry into its operations. Shares briefly fell as much as 16 percent.

Shares of Fannie Mae and Freddie Mac fell sharply, a day after leaders of the Senate Banking Committee announced an agreement on legislation to wind down the government-owned mortgage financiers. Fannie lost 12.2 percent to $3.54 and Freddie fell 16.8 percent to $3.36.

EPL Oil & Gas Inc jumped 28.8 percent to $37.50 after the company agreed to be acquired by larger rival Energy XXI Ltd for $2.3 billion including debt. Energy XXI shares lost 7.8 percent to $21.54.

Express Inc dropped 12 percent to $16.05 after the apparel retailer reported fourth-quarter earnings and forecast a profit for the current quarter that fell far short of analyst expectations.

Oxigene Inc surged 77.3 percent to $4.29. The company said its experimental drug Zybrestat, combined with Roche's cancer drug Avastin, significantly slowed progression of recurrent ovarian cancer better than Avastin alone in a mid-stage clinical trial.

Geron Corp plunged 61.6 percent to $1.69. The company said the U.S. Food and Drug Administration ordered a halt to trials of a cancer drug over concerns about potential liver damage.

About 6.4 billion shares traded in U.S. exchanges, according to the latest available data from BATS Global Markets, below the 6.9 billion daily average so far this month.

Advancers outnumbered decliners by about 7 to 5 on the NYSE and on the Nasdaq 9 issues rose for every 7 that fell. — Reuters

source: gmanetwork.com

Wall St ends best year since 1990s with moderate gains

NEW YORK - US stocks closed out their best year in more than 15 on Tuesday, with major indexes advancing throughout 2013 on the back of the Federal Reserve's massive stimulus and expectations for accelerating growth going forward.

Wall Street ended 2013 with its positive momentum intact, advancing in its final trading day of the year on the back of positive consumer confidence data.

The S&P 500 rose 29.6 percent over the year, its best annual performance since 1997, while the Dow climbed 26.5 percent in its best year since 1995. The Nasdaq jumped 38.3 percent, its best year since 2009.

Both the Dow and the S&P 500 finished the final trading day of 2013 at record closing highs.

In a sign of improving sentiment, the CBOE Volatility Index or VIX fell 23.9 percent over the year, the biggest annual drop for the so-called "fear index" since 2009.

All 10 S&P 500 sector indexes ended the year with gains as investors rode the Fed's extraordinary stimulus in a year that had only the slightest of hiccups. Wall Street even weathered a partial shutdown of the US government, as well as the recent announcement that the Fed would trim its monthly bond purchases in response to an improving economic picture.

"This has been a terrific year, with all the concerns we had in January (2013) proving unfounded, and with current economic growth giving us a strong outlook for 2014," said John Carey, portfolio manager at Pioneer Investment Management in Boston.

Trading volume was once again light in US markets, which will be closed Wednesday for the New Year's holiday. Still, investors found reasons to buy after a read on consumer confidence rose more than expected in December.

The S&P/Case-Shiller composite index of home prices in 20 metropolitan areas gained 0.2 percent in October from September, but posted the strongest annualized gain in October in more than seven years.

"There's been a generally positive trend to news, including the confidence report, which bodes well for conditions next year and gives us really no reason to sell," said Carey, who helps oversee $220 billion in assets.

About 63 percent of stocks traded on the New York Stock Exchange closed higher for the day, while 55 percent of the shares traded on the Nasdaq ended in positive territory.

The Dow Jones industrial average gained 72.37 points, or 0.44 percent, to end at 16,576.66. The Standard & Poor's 500 Index advanced 7.29 points, or 0.40 percent, to finish at 1,848.36. TheNasdaq Composite Index rose 22.39 points, or 0.54 percent, to close at 4,176.59.

The Dow also touched an all-time intraday high of 16,588.25 on Tuesday, while the S&P 500 set a record intraday peak of 1,849.44.

In the fourth quarter, the Dow rose 9.6 percent, the S&P 500 gained 9.9 percent and the Nasdaq climbed 10.7 percent. In December alone, the Dow advanced 3 percent, the S&P 500 rose 2.4 percent and the Nasdaq shot up 2.9 percent. It was the fourth straight monthly rally for all three.

Gains in the year were led by consumer discretionary stocks, with the sector index up 40.4 percent. The sectors with the slimmest gains of the year—telecom, which rose 6.6 percent, and utilities, up 16.5 percent—are both considered defensive groups.

Among specific names, Netflix Inc was the S&P 500's biggest gainer, soaring 295.6 percent.Newmont Mining was the index's biggest loser, falling 50.6 percent in 2013. Only 38 stocks in the S&P 500 ended the year in the red.

Few investors expect 2014 to deliver the same scale of returns. According to the most recent Reuters equity poll, the S&P 500 is seen rising to 1,925 by the end of 2014, which represents an upside of 4.1 percent from current levels.

In the corporate arena, Hertz Global Holdings Inc surged 10.5 percent to close at $28.62 after the company said it had adopted a one-year shareholder rights plan in response to "unusual and substantial activity" it has observed in its shares.

Marvell Technology Group Ltd jumped 4.5 percent to end at $14.38 after private equity firm KKR & Co LLP reported a 6.8 percent stake in the chipmaker, according to a regulatory filing.
Twitter Inc broke its steep two-day losing streak, gaining 5.2 percent to close at $63.65. The stock's price had tumbled 17 percent between Thursday and Monday.

About 4.31 billion shares traded on all US platforms, according to BATS exchange data, well below the December average of 5.89 billion shares. —Reuters

source: gmanetwork.com

Upbeat data, deals lift Wall Street

NEW YORK - U.S. stocks rose on Monday after closing Friday their worst week since August as upbeat economic data from the United States and Europe boosted optimism ahead of a key Federal Reserve decision later in the week.

Investors have been trying to gauge when the U.S. central bank will start winding down its market-friendly $85 billion monthly bond purchases, with some expecting the Fed to announce a tapering in March.

Stronger economic data of late, including Monday's numbers showing U.S. manufacturing output rose for a fourth straight month in November and last month's payroll report, led some to believe the tapering could come as soon as the Fed's meeting this week.


The Fed has said it will slow the program when certain economic indicators meet its growth targets.

Global manufacturing and business activity expanded in December, as euro zone businesses ended the year on a high thanks to a surge in new orders, though the rate of manufacturing growth slowed in China.

"There are signs of growth here in U.S. is being emulated elsewhere, the recovery is in relatively good footing worldwide and the Fed's decision to eventually start to taper is positive in the long run," said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.

"The market is waiting to see what the Fed is going to decide to do," he said. "Bottom line, the economy continues to show signs of strength and eventually the market will react positively to that."

The Dow Jones industrial average rose 129.21 points or 0.82 percent, to 15,884.57, the S&P 500 gained 11.22 points or 0.63 percent, to 1,786.54 and the Nasdaq Composite added 28.542 points or 0.71 percent, to 4,029.518.

LSI Corp was the best performer on the S&P 500 after Avago Technologies agreed to buy LSI for $6.6 billion. LSI shares jumped 38.6 percent to $10.96 and Avago added 9.7 percent to $50.10.

In other deal news, AIG Inc rose 1.1 percent to $50.28 after it said it would sell its aircraft-leasing business to AerCap Holdings NV in a deal valued at about $5.4 billion. AerCap surged 33.1 percent to $33.17.

Exxon Mobil led points gains on the S&P 500 after Goldman Sachs raised its rating on the stock to "buy" from "neutral," saying the company was nearing a turning point in terms of production growth and capital intensity. Shares added 2 percent to $97.22.

IBM's 2.9 percent gain to $177.85 made it the top percentage and points gainer on the Dow industrials.

Shares of Herbalife Ltd jumped 9.4 percent to $74.83 after the company announced there were no material changes to its financial re-audit.

Boeing shares rose 1.7 percent in after-hours trading after it said it approved a $10 billion stock repurchase and raised its dividend 50 percent to 73 cents per share.

Advancers beat decliners on the NYSE by a ratio of 2 to 1. On the Nasdaq, about 15 issues rose for every seven that fell.

About 6 billion shares changed hands on U.S. exchanges, slightly below the 6.1 billion average so far this month, according to data from BATS Global Markets.  — Reuters

source: gmanetwork.com

Fed uncertainty sends the Dow, S&P down for 5th day

NEW YORK - U.S. stocks fell on Thursday, with the Dow and S&P 500 dropping for a fifth straight session after a round of mixed economic data left traders guessing as to when the Federal Reserve would begin to slow its stimulus program.

The Dow and the S&P 500 are in their worst stretch since September. However, the moves have been slight, with the S&P 500 down about 1.2 percent over the period.

Gross domestic product grew at an annualized rate of 3.6 percent in the third quarter, the fastest pace since the first quarter of 2012 and faster than the 3 percent rate that had been expected. Another report showed that the number of Americans filing new claims for unemployment benefits unexpectedly fell last week in a hopeful sign for the labor market - a day ahead of the November nonfarm payrolls report.

Traders have been trying to second-guess how the Fed views strong data and whether the numbers are strong enough for the central bank to slow its $85 billion-a-month bond-buying program, which it said it would do when certain economic metrics meet its targets.

"The growing perception that the Fed will taper sooner rather than later may create some anxious moments in the market, as well as some anxiety for investors," said Clark Yingst, chief market analyst at Joseph Gunnar & Co in New York. "However, we think this is bullish for stocks and that the decline is a buying opportunity."

Expectations that the Fed might start tapering this month were dampened after Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, said the GDP data "doesn't make a trend and ... doesn't drive me to the conclusion that we've had a breakout in terms of growth."

The Dow Jones industrial average slipped 68.26 points, or 0.43 percent, to end at 15,821.51. The Standard & Poor's 500 Index fell 7.78 points, or 0.43 percent, to finish at 1,785.04. The Nasdaq Composite Index dropped 4.84 points, or 0.12 percent, to close at 4,033.17.

The Dow and the S&P 500 are on track to post their first negative week in nine. Wall Street's recent rally, which took the Dow and the S&P 500 to all-time highs, came mostly on expectations that the Fed would hold steady with its stimulus. The three major U.S. stock indexes have each climbed more than 20 percent this year.

Apple rose 0.5 percent to $567.90 after China Mobile Ltd, the country's largest mobile operator, said it was still negotiating to offer iPhones on its network. A media report had earlier said that the long-awaited agreement had been reached. Earlier, Apple hit a 52-week high just above $575.

But Microsoft fell 2.4 percent to $38 in heavy volume. It was the biggest points decliner by far in the Nasdaq 100 and outweighed Apple's boost.

J.C. Penney Co Inc shares tumbled 8.4 percent to $8.85 after Morgan Stanley reiterated its "underweight" rating on the stock and said November's 10 percent sales growth was not enough to change the company's outlook.

Other major U.S. retailers posted disappointing sales for November as cautious shoppers pinched their pennies at the start of the holiday season.

Costco shares fell 1.6 percent to $120.95 after the warehouse club chain said sales at stores open at least a year rose 2 percent, below the 3.3 percent increase that analysts were expecting.

But the stock of Dollar General Corp jumped 6.1 percent to $59.81 and ranked as the S&P 500's best performer after the discount retailer posted third-quarter earnings and said same-store sales rose 4.4 percent in the same period.

About 64 percent of the stocks traded on the New York Stock Exchange closed lower for the day, while 52 percent of Nasdaq-listed shares ended in negative territory.

About 5.1 billion shares traded on all U.S. platforms, according to BATS exchange data. — Reuters

source: gmanetwork.com

Dow, S&P 500 drop for 4th straight day

NEW YORK - The Dow and the S&P 500 finished lower for the fourth consecutive session on Wednesday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus.

Stocks fell for much of the session, but edged closer to break-even levels in the last hour of trading. Still, the losses were broad, with eight of the 10 S&P 500 sector indexes ending lower for the day on concerns that the market's recent rally to record levels was not justified.

About 60 percent of the shares traded on the New York Stock Exchange closed lower for the day, while 56 percent of Nasdaq-listed stocks closed down.

Many market participants expect the Fed to announce a cut in its $85 billion in monthly bond purchases in March, but recent economic data increased expectations that the move may come sooner. The Fed has said it would slow its stimulus program when certain economic measures meet its targets, including a decline in the U.S. unemployment rate.

The ADP National Employment Report showed private-sector employers added 215,000 jobs in November, more than expected. This was the latest in a string of reports suggesting that the economy's outlook was brightening.

"Stronger economics means earlier tapering, which is a negative for the market. On top of that, we've surged to new highs with a lot of optimism, and that normally calls for a pullback, if only briefly," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, Ohio.

"If the decline is mostly about sentiment, we should work through it quickly and be back to seeing better action," he added. "But the pullback could be more pronounced, the more people focus on the Fed."

The Dow Jones industrial average slipped 24.85 points, or 0.16 percent, to end at 15,889.77. The Standard & Poor's 500 Index declined 2.34 points, or 0.13 percent, to finish at 1,792.81. But the Nasdaq Composite Index inched up just 0.80 of a point, or 0.02 percent, to close at 4,038.00.

In the Fed's Beige Book, a collection of anecdotes from the central bank's business contacts across the nation, the Fed said employers had stepped up hiring in some parts of the country in October and early November, and the economy had expanded at a "modest to moderate pace."

Other signs of strength in the economy were figures showing that the U.S. trade deficit narrowed in October and new home sales recorded their biggest increase in nearly 33-1/2 years in October. The home sales report suggested that the housing market's recovery remains intact despite higher mortgage rates. Shares of KB Home rose 1.1 percent to $17.26.

But the economic picture was muddied after the Institute for Supply Management said its services index fell to 53.9 last month from 55.4 in October. A forecast called for a November reading of 55.0. A figure above 50 signifies expansion.

U.S. crude oil futures prices advanced 1.2 percent, up for a fourth straight day as government data showed an unexpected drop in U.S. stockpiles. Crude is up 5.3 percent over the past four sessions.

Shares of Marathon Oil rose 1.4 percent to $36.74. The stock of Hess Corp added 1.3 percent to $82.21.

Among decliners, shares of clothing retailer Express Inc tumbled 23 percent to $19 after the company forecast quarterly earnings below analysts' estimates because of weaker-than-expected Thanksgiving sales.

OmniVision Technologies Inc slid 2.9 percent to $15.52 after the chipmaker forecast current-quarter revenue well below analysts' estimates.

After the market closed, Aeropostale Inc fell 3.6 percent to $9.01 following the release of its third-quarter results. The stock ended regular trading at $9.36, down 3.9 percent.

Oculus Innovative Sciences Inc shares surged 103.4 percent to $4.74 after the company got the go-ahead from the U.S. Food and Drug Administration for its anti-scar gel.

About 6.54 billion shares traded on all U.S. platforms, according to BATS exchange data.  — Reuters

source: gmanetwork.com