Source: ThinkstockApril 12, 2017: The S&P 500 closed lower on the day, down 0.38% and 8.95 points to 2,344.82. Separately the DJIA barely closed down 0.30% on the day at 20,589.62, down approximately 61.68 points.
Looking at the index as a whole a majority of the market is down on the day. Notable exceptions include the utilities sector and some consumer goods companies. Industrial goods and oil & gas stocks were largely down as oil fell on Wednesday as well. Financial stocks in general (especially major banks) continued to suffer. A majority of the medium to small cap tech firms saw losses in the session too. Separately, President Trump made comments to the Wall Street Journal that the U.S. dollar was becoming too strong and that he favored a low-rate environment, and this is part of the reason Gold saw a favorable uptick.
Top 5 Financial Stocks To Invest In Right Now: The NASDAQ OMX Group Inc.(NDAQ)
- [By Hibah Yousuf]
In a report outlining the growing operational risks at trading exchanges, S&P said the noticeable increase in technical snafus could trigger ratings downgrades for major operators like NYSE Euronext (NYX), Nasdaq OMX (NDAQ) and BATS Global Markets over the next few years.
- [By Maureen Farrell]
Twitter will try not to mimic Facebook’s mistakes on IPO day.
NEW YORK (CNNMoney) At the start of last year, Nasdaq (NDAQ) and Morgan Stanley (MS, Fortune 500) were on top of the tech world. Both landed key roles in Facebook’s hotly anticipated initial public offering.
But Facebook’s IPO changed that. Both companies were widely criticized for Facebook’s face plant of a debut. The problems that marred Facebook’s IPO clearly hurt the image of Nasdaq and Morgan Stanley.
- [By Brent Slava]
Power Solutions International Inc (NASDAQ: PSIX) shares plunged as much as 30 percent Tuesday on a report the company would be delisting from Nasdaq Inc (NASDAQ: NDAQ).
- [By Jake Zamansky]
The Securities and Exchange Commission said on Wednesday afternoon it was in contact with the NASDAQ OMX Group (NDAQ) after the brief outage in the system that was at the heart of the three hour shutdown in August, according to a report by Reuters.
Top 5 Financial Stocks To Invest In Right Now: New Century Bancorp Inc.(NC)
- [By Lisa Levin]
Shares of NACCO Industries, Inc. (NYSE: NC) got a boost, shooting up 11 percent to $73.85. NACCO Industries disclosed that its subsidiary Hamilton Beach Brands has filed to trade as an independent company. The company announced the retirement of its CEO following Hamilton Beach Brands spin off.
Top 5 Financial Stocks To Invest In Right Now: Porter Bancorp Inc.(PBIB)
- [By WWW.GURUFOCUS.COM]
For the details of PATRIOT FINANCIAL PARTNERS GP, LP’s stock buys and sells, go to www.gurufocus.com/StockBuy.php?GuruName=PATRIOT+FINANCIAL+PARTNERS+GP%2C+LP
These are the top 5 holdings of PATRIOT FINANCIAL PARTNERS GP, LPBanc of California Inc (BANC) – 2,850,564 shares, 27.82% of the total portfolio. Guaranty Bancorp (GBNK) – 1,891,767 shares, 23.36% of the total portfolio. Shares reduced by 19.22%Meta Financial Group Inc (CASH) – 347,069 shares, 14.02% of the total portfolio. Sterling Bancorp (STL) – 1,048,980 shares, 11.07% of the total portfolio. Shares reduced by 16.01%MBT Financial Corp (MBTF) – 2,060,302 sha
Top 5 Financial Stocks To Invest In Right Now: KKR(KKR)
- [By Jon C. Ogg]
The long saga regarding Pandora Media Inc. (NYSE: P) has finally come to a head. Well, maybe. Rather than KKR & Co. L.P. (NYSE: KKR) investing $150 million, Sirius XM Holdings Inc. (NASDAQ: SIRI) will be investing up to $480 million in the streaming music rival. With its ticketing unit sale taking place as well, it might seem that Pandora is getting a great deal and helping to bolster its books.
- [By WWW.THESTREET.COM]
In the Lightning Round, Cramer was bullish on Kohlberg Kravis Roberts (KKR) , Opko Health (OPK) and Allergan (AGN) .
Cramer was bearish on Kimberly-Clark (KMB) , Novartis AG (NVS) , Chemours (CC) and Gulfport Energy (GPOR) .
Top 5 Financial Stocks To Invest In Right Now: Home Federal Bancorp Inc.(HOME)
- [By Lisa Levin]
Shares of At Home Group Inc (NYSE: HOME) were down 10 percent to $23.19. At Home Group reported Q2 adjusted earnings of $0.18 per share on revenue of $232.1 million.
- [By Sofia Horta e Costa]
Sanofi fell 2.6 percent after withdrawing a U.S. application for a diabetes drug. Cie. Financiere Richemont (CFR) SA dropped 2.3 percent as revenue missed analysts estimates. Vivendi SA advanced 2.7 percent after saying it will begin a formal study to separate its French phone unit from its media businesses. Home Retail Group Plc (HOME) surged 5.4 percent to a two-year high as sales exceeded projections.