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7 Market-Moving Stories You Might've Missed Last Week

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7 Market-Moving Stories You Might've Missed Last Week

1. Swiss franc rises 14 percent: On Thursday, the Swiss Franc appreciated considerably after Switzerland's central bank said it would allow its currency to float, rather than maintain a minimum exchange rate. Following the move, shares of currency brokers fell sharply on Friday, with FXCM Inc. (NYSE: FXCM) leading the way lower, down roughly 80 percent.

2. Big bank earnings: Beginning on Wednesday, Wells Fargo & Co (NYSE: WFC) and JPMorgan Chase & Co. (NYSE: JPM) reported financial results for the fourth quarter; results were worse than expected. The weak earnings were a sign of things to come, as Bank of America Corp (NYSE: BAC), Citigroup Inc (NYSE: C) and Goldman Sachs Group Inc (NYSE: GS) reported soft earnings as well.

3. Retail sales weaker than expected: On Wednesday morning, S&P 500 and Dow Jones Futures each fell more than 1 percent following disappointing retail sales news. December retail trade sales were down 1.1 percent from November 2014.

Related Link: The Week In Biotech

4. Blackberry takeover rumors: On late Wednesday, reports surfaced that Samsung was interested in buying the tech company. Amid the rumor, shares of BlackBerry Ltd (NASDAQ: BBRY) quickly rose 30 percent. Gains were erased, though, after BlackBerry denied talks with Samsung.

5. Tesla shares drop after-hours: Late Tuesday, shares of Tesla Motors Inc (NASDAQ: TSLA) dropped roughly 10 percent amid comments from CEO Elon Musk that China sales had “declined significantly."

6. Intel earnings: On Thursday, Intel Corporation (NASDAQ: INTC) reported fourth quarter financial results. The company beat top and bottom line estimates, and offered a first quarter revenue outlook.

7. GoPro shares tumble: On Wednesday, shares of GoPro Inc (NASDAQ: GPRO) fell roughly 12 percent following news that Apple Inc. (NASDAQ: AAPL) had been granted a patent for for a wearable camera.

Image credit: Rafael Matsunaga, Wikimedia

 

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