S&P Hits Level Not Seen Since December 2007: Netflix, Inc, Apple Inc., Swingplane Ventures, Echo Automotive Inc, World Moto Inc.
NEW YORK, January 25, 2013 /PRNewswire/ --
The Labor Department released a report yesterday that said the number of Americans applying for unemployment aid fell last week to the lowest since January 2008. This helped push the Standard & Poor's 500 index to 1,502.27 before retracing to close at 1494.82. The S&P hasn't been over 1,500 since December 2007. The S&P is now up 5.1% for the year. The Dow Jones closed up 46 points at 13825.33. Apple's losses dragged the Nasdaq lower on Thursday with the index closing down 23 points.
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Netflix, Inc. (Nasdaq: NFLX) - Netflix surprised themselves and Wall Street when they announced fourth quarter earnings. The Company surpassed their expectations and beat dismal analyst predictions by even reporting a profit. The stock surged to a new 52-week high of $149.17 yesterday and closed the day up $43.60. Growth in the fourth quarter was accelerated by Netflix's internet video service. Volume on Thursday traded almost four times higher than the stock's daily average volume of 4,448,060. On January 22nd, the Company's Chief Communications Officer bought 815 shares.
Apple Inc. (Nasdaq: AAPL) - Apple reported disappointing 4th quarterly earnings late Wednesday. The Company's fourth quarter guidance was forecasted at $7.65 a share for earnings on revenue of $34 billion when analysts expected $10.22 a share earnings on revenue of $38 billion. Apple shares dropped $63.50 to close at $450.50 yesterday afternoon. The Company's CEO Tim Cook noted that the Company still couldn't make enough iPhones, iPads, and iMacs to satisfy demand. The Company hasn't launched a new product since 2010. Apple still ranks as the world's most valuable company at $423 billion.
Swingplane Ventures Inc. (OTCBB: SWVI) - SWVI is going on two days of unusually high trading volume with yesterday's volume surpassing 16 million. The Company retraced from Wednesday's close of $0.29 to close at $0.26 on Thursday. Swingplane Ventures Inc. advised that the Company's website was brought down by a targeted Denial-of-service attack (DoS) which may have been undertaken by short sellers. Denial-of-service attacks are illegal in many countries and can be a federal crime in the US under the Computer Fraud and Abuse Act. The Company's website is currently being moved to a new server.
Echo Automotive Inc. (OTCBB: ECAU) - ECAU trading volume was over $8 million yesterday with the stock closing in the green up roughly 32% at $1.42, its high of the day. On January 3rd, shares were trading at a low of $0.72. ECAU's closing price of $1.42 yesterday shows a 97% gain since January 3rd.- Echo Automotive Inc. is a developer of technologies enabling the cost effective conversion of existing fleet vehicles into fuel efficient hybrids. The company announced on Thursday that a demonstration of their EchoDrive™ will be showcased at America's largest work truck show on March 6-8, 2013.
World Moto, Inc. (OTCBB: FARE) - FARE volume traded yesterday hit 64,272,803, which is almost double the stock's average at 37,511,800. The stock's intra-day high of $0.17 was the halfway mark to the Company's 52 week high of $0.34. On Tuesday FARE hit a low of 0.036. At yesterday's high of $0.17, FARE was up over 370%. World Moto is the Company behind the revolutionary invention called the Moto-Meter, which media outlets such as CNN are calling, "the world's first motorcycle taxi meter."
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