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Financialinsiders.com: 'Roller Coaster Week' Market News Recap Ending January 4th, 2019

AAPL, NFLX, DIS, OHI

Financialinsiders.com News Commentary

PR Newswire

NEW YORK, January 4, 2019 /PRNewswire/ --

U.S. markets turned bearish to begin the new year, led by Apple Inc.'s (NASDAQ: AAPL) stock price plunge. The market remained relatively neutral at the beginning of the week, but stocks quickly plummeted on Wednesday. Even still, throughout Wednesday, stocks quickly rebounded as the Dow Jones Industrial Average closed higher. Shortly after the closing bell, Apple's Chief Executive Officer Tim Cook released a letter to shareholders regarding its revenue guidance slash for the next quarter. Cook said Apple expects to see revenue of approximately USD 84 Billion compared to its previous guidance of USD 89 Billion to USD 93 Billion. He also explained that the lower than expected estimates were a result of economic weaknesses in Greater China, as the Company faced a 100% revenue decline year over year across its iPhone, Mac and iPad products in the country. Apple's disappointing guidance caused U.S. stocks to plunge on Thursday morning, as the Dow Jones Industrial Average fell by as much as 661.27 points, or 2.8% intraday on Thursday. The Nasdaq Composite also edged lower, falling by 190.95 points, or 2.8%, while the S&P 500 Index declined by 60.96 points or 2.4%. Netflix, Inc. (NASDAQ: NFLX), MedEquities Realty Trust, Inc. (NYSE: MRT), Bristol-Myers Squibb Company (NYSE: BMY), Cloudera, Inc. (NYSE: CLDR), Ford Motor Company (NYSE: F)

"We turned the calendar but we didn't turn the trend in the markets," said Eric Wiegand, Senior Portfolio Manager at U.S. Bank Private Wealth Management. "We have continued to witness a deceleration in global growth. As we started this year, the purchasing manufacturers' index data from around the world indicated perhaps a pace of softening that caught investors by surprise. That's reinforced by today's release of the ISM manufacturing numbers."

Netflix, Inc. (NASDAQ: NFLX) announced on Wednesday that Spencer Neumann was appointed as the Company's Chief Financial Officer. Neumann will succeed David Wells, who served as Chief Financial Officer since 2010. Neumann previously held the Chief Financial Officer position at Activision Blizzard (NASDAQ: ATVI) and senior positions at The Walt Disney Company (NYSE: DIS). Neumann is expected to focus on the Company's production finances. Netflix shares edged 3% lower following the announcement.

MedEquities Realty Trust, Inc. (NYSE: MRT) shares jumped on Wednesday after it announced a definitive merger agreement in which Omega Healthcare Investors, Inc. (NYSE: OHI) said it will acquire the Company. MedEquities shares rose by 44.2% following the announcement. The transaction represents an enterprise value of approximately USD 600 Million for MedEquities and will further diversify Omega's assets and operators. MedEquities' shareholders will receive 0.235 Omega common shares plus USD 2.00 in cash for each share of MedEquities common stock, representing a value of USD 10.26 per MedEquities' share.

Bristol-Myers Squibb Company (NYSE: BMY) shares slipped by as much as 15% on Thursday morning after it announced plans to merge with Celegen Corporation (NASDAQ: CELG). Bristol-Myers said it would acquire Celgene in a cash and stock transaction valued at approximately USD 74 Billion. The Company said the two will focus on addressing the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease. Bristol-Myers is expected to retain 69% ownership of the Company, while Celgene maintains the remaining 31%. The transaction is expected to close in the third quarter of 2019.

Cloudera, Inc. (NYSE: CLDR) announced on Thursday that it completed its merger with Hortonworks, Inc. Cloudera shares plunged by 9% after the opening bell on Thursday. Cloudera will look to deliver a first enterprise data cloud on a 100% open-source data platform through the acquisition. Hortonworks shareholders received 1.305 common shares of Cloudera for each Hortonworks stock owned.

Ford Motor Company (NYSE: F) announced its December sales results on Thursday. Ford reported declining sales, however, the automaker still beat expectations. The Company reported that unit sales for December fell by 8.8% year over year while analysts forecast a 10% decline year over year. For the month, Ford reported that retail sales by fell 4.8% to 167,705, fleet sales dropped by 19.5% to 53,069, car sales floundered by 27.8% to 34,950, SUV sales tumbled by 4.4% to 79,225 and truck sales shrank by 3.8% to 106,599. December U.S. sales decreased by 8.8% to 220,774. Overall, Ford's full-year sales totalled 2.49 million, which fell by 3.5%.

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About FinancialInsiders.com 

Financialinsiders.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially-driven digital space, video production and integration of social media, FinancialInsiders.com creates 100% unique original content. FinancialInsiders.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: Financialinsiders.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.Financialinsiders.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), Financialinsiders.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialinsiders.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. Financialinsiders.com receives fees for producing and presenting high quality and sophisticated content on Financialinsiders.com along with other financial news PR media services. Financialinsiders.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. Financialinsiders.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, Financialinsiders.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. Financialinsiders.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialInsiders.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. Financialinsiders.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. Financialinsiders.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by Financialinsiders.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Financialinsiders.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.Financialinsiders.com.

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