FinancialInsiders.com Start of Week News October 9th, 2017

NEW YORK, October 9, 2017 /PRNewswire/ --

U.S. equities fell slightly on Friday after the Bureau of Labor Statistics reported the first monthly jobs loss in seven years. Yet the stock market continues to still post strong weekly gains as investors feel optimistic about a possible tax reform. The Dow Jones industrial average posted a gain of 1.62 percent last week, while the S&P 500 was up 1.19 percent. The Nasdaq Composite Index also posted a weekly advance of 1.45 percent. All three benchmark indexes hit new record highs on Thursday. Nonfarm payrolls fell by 33,000 in September due to the impact of Hurricanes Harvey and Irma. This is the first monthly decline since 2010. Average hourly wage rose 2.9 percent year over year, while unemployment rate fell to 4.2 percent, the lowest in 16 years. Netflix, Inc. (NASDAQ: NFLX), Herbalife Ltd. (NYSE: HLF), Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc (NASDAQ: GOOGL), Costco Wholesale Corporation (NASDAQ: COST)

Marcus Bullus, trading director of MB Capital, said in a MarketWatch report: "Traders were pricing in a weak print given the severe disruption caused by Hurricanes Harvey and Irma, and even though it came in far worse than expected the markets will go into the weekend feeling there is no reason to panic. The unemployment rate nudged down and wage growth went up in September, underlining how the headline figure is an anomaly."

Netflix, Inc. (NASDAQ: NFLX) shares jumped about 10% last week after the popular internet television network has announced that it will increase subscription prices on some of its streaming plans. The company's $10/month high-definition plan now costs $11, and the 4K streaming plan, will cost $14 per month, a $2 increase. "From time to time, Netflix plans and pricing are adjusted as we add more exclusive TV shows and movies, introduce new product features and improve the overall Netflix experience to help members find something great to watch even faster," a Netflix spokesperson said in a statement to The Verge. The company's stock has increased in value about 60% year to date.

Herbalife Ltd. (NYSE: HLF) stock jumped more than 10% Friday after the announcement of preliminary results of the company's 'modified Dutch auction' tender offer, which expired at 5:00 P.M., New York City time, on Thursday, October 5, 2017, to purchase for cash up to an aggregate of $600 million of the Company's common shares at a per share price not less than $60.00 nor greater than $68.00, plus a non-transferable contractual contingent value right ("CVR") for each share tendered, allowing participants in the tender offer to receive a contingent cash payment should Herbalife be acquired in a going-private transaction within two years of the commencement of the tender offer. The Company expects to fund the share purchases in the tender offer from the proceeds from the $1,300.0 million term loan under its $1,450.0 million senior secured credit facility entered into on February 15, 2017.

Amazon.com, Inc. (NASDAQ: AMZN) is now testing its own delivery service system to make more products available for free two day delivery and to decrease inventory in the overcrowded warehouses. The company has used other delivery services such as FedEx Corp. and United Parcel Service Inc. During premarket hours on Thursday, UPS shares fell 2 percent and FedEx shares fell 1.7 percent. According to a report by Bloomberg the news project underscores Amazon's ambitions to expand its logistics operations and wean itself off the delivery networks of UPS and FedEx.

Alphabet Inc (NASDAQ: GOOGL) announced last week its renewed push to strengthen their hardware business. In a hardware event that took place on Wednesday Google unveiled a series of new products, including a Pixelbook laptop, wireless earbuds and a small GoPro-like camera, showcase Google-developed operating systems and services, notably the voice assistant. "It's pretty clear Google is serious about hardware," said Avi Greengart, research director at consumer data firm GlobalData, According to Reuters. "Given that there is a Pixel 2, and given the financial investment, there must be a longer-term strategic intent."

Costco Wholesale Corporation (NASDAQ: COST) shares fell about 10% after the company announced on Thursday, its operating results for the 17-week fourth quarter and the 53-week fiscal year ended September 3, 2017. The company reported fourth-quarter revenue rose 15. 7 percent to $42.30 billion. Net income was $919 million, or $2.08 per share, up from $779 million, or $1.77 per share, a year earlier. The better-than-expected earnings results were boosted by an increase in the company's membership fee. Fourth-quarter membership fee rose 13.3 percent to $943 million. The company increased the annual membership fee by $5-$60 for Goldstar and business members, according to CNBC. 

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