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Hello. This is the first issue of Market Flash. This edition of Market Flash is for the regular trading session of August 19, 2014.
1. Sprint unveils new pricing, officially kills "Framily" plan
Sprint, the SoftBank-owned struggling telecom company, revealed some new pricing plans that would effectively replace the "Framily" plan. Sprint dropped 23 cents from its previous close of 5.62 and is now at 5.39 per share, down 4.09%. This unprofitable company worth $22B has seen its share price decline about 45% from the start of year, and its share price has also declined over 22% over the past year.
2. TJX Companies, Urban Outfitters, and Dick's Sporting Goods earnings point to a better retail sector
TJX Companies, the owner of its iconic brand of TJMaxx but also HomeGoods and Marshall's and Sierra Trading Post, beat on earnings and is up over 9% today. Urban Outfitters reported good results and was up by a considerable amount. Dick's Sporting Goods, while reporting weakness in its golf sales, also had a good report that was reflected in the stock. Maybe retail isn't so bad after all.
3. Dennis Gartman saved the coal stocks for today
Of course, people on CNBC can reverse stocks entirely, and that's what happened to coal today. Dennis Gartman said he "liked the coal sector" on the CNBC show Fast Money. Arch Coal, Alpha Natural Resources, Peabody Energy, and Consol Energy closed up on the day. The notable underperformer was Walter Energy, but that was only down 0.48% today.
4. Rewind: Dollar General has bid for Family Dollar
Dollar General had finally bid for Family Dollar on none other than Merger Monday. Dollar General offered a better offer than Dollar Tree, valuing the stock at a higher valuation. Wall Street expected the Dollar General offer instead of the Dollar Tree deal. Wall Street never gets disappointed, as always.
5. Hertz Global lowers guidance
Hertz Global lowered its guidance for 2014 due to ongoing audit costs. Hertz Global (HTZ) is down 11.72% in the after-hours session.
That's it for this issue of Market Flash. Market Flash. The action in the markets.
