For Immediate Release
Chicago, IL—October 14, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
Face It, Twitter: They Just Weren’t That into You
Shares of Twitter Inc. (TWTR - Analyst Report) fell 13.5% in Monday afternoon trading after Bloomberg reported last weekend that potential bidders looking to acquire the social media company were backing off. Disney (DIS - Analyst Report) , Salesforce (CRM - Analyst Report) , and Google (GOOGL - Analyst Report) are now all unlikely to continue to pursue a bid to buy the struggling social networking company.
Amazon Will Open Convenience Stores as Grocery Business Expands& Amazon Debuts Streaming Music Service Amazon Music Unlimited Today
Amazon.com Inc. (AMZN - Analyst Report) is set to open a new line of convenience stores as part of its grocery business expansion, which will be available to Amazon Fresh subscribers, the company’s online grocery delivery ordering service.
Amazon also debuted Amazon Music Unlimited this week, a music streaming service. Like its competitors Spotify and Apple Music, users can enjoy ad-free, on-demand music for $10 a month. Prime members can enjoy the service for $8 month, while Echo owners who choose to listen to Amazon Music exclusively on their devices only have to pay $4 a month.
Here’s Why Ulta Salon (ULTA - Snapshot Report) is Soaring Today
Shares of Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA - Snapshot Report) gained over 10% in morning trading Thursday after the company raised its profit and sales outlook for the current quarter. Ulta now expects earnings to come in at $1.35 to $1.38 per share, up from its previously-announced range of $1.25 to $1.30 per share. The company also raised its same-store sales growth expectations. Ulta believes it will sees comps growth of 14% to 15% this quarter, up from 11% to 13%.
Why Royal Bank of Scotland’s Scheme is Much Worse than Wells Fargo
According to a set of leaked files uncovered in a recent Buzzfeed report, Royal Bank of Scotland (RBS - Snapshot Report) staffers were allegedly instructed to knowingly steer healthy businesses towards the bank’s troubled-business unit, the Global Restructuring Group (GRG). The GRG profited on these businesses by deliberately hitting them with massive fees and interest-rate hikes, before scooping up their assets at fire-sale prices.
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