Rough outlook: American Express shares dropped 12 percent to $55.06 Friday as analysts cut price targets following a bleak outlook from the company late Thursday. AmEx said it plans to shed $1 billion in costs.
AmEx shares take big hit after bleak earnings outlook
January 23, 2016 at 7:53PM
Homebuilders slump: Homebuilders fell Wednesday after the Commerce Department said housing starts decreased in December. Still, residential construction ended 2015 at its healthiest level in eight years. Beazer Homes sank 12 percent, to $7.62 and KB Home fell 6 percent, to $9.30. Beazer Homes closed the week at $8.94; KB Home closed Friday at $10.41.
Banking stocks: Morgan Stanley shares gained 3 percent Tuesday to $26.74 after the company said it turned a profit in the fourth quarter driven by better results from its wealth management business and investment banking. Its shares closed the week at $25.61.
Railroads not workin': Union Pacific shares dropped 3.4 percent to $71.11 Thursday after posting a weaker than expected fourth-quarter profit. The company said uncertainty in energy and commodity markets and the strong U.S. dollar will continue to affect its business this year. The stock closed Friday at $69.99.
Tiffany tumbles: Jewelry retailer Tiffany fell 5.5 percent to $63.94 Tuesday after it said sales dropped in the fourth quarter and it forecast minimal growth in 2016. The stock closed at $61.65 Friday.
Earnings: Delta Air Lines gained nearly 3 percent to $45.75 Tuesday after reporting a bigger fourth-quarter profit because of falling fuel prices. Delta expects fuel to be even less expensive in the first quarter. Its shares finished the week at $46.76.
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Before you declare you’re going to stick to a strict budget, save 20% of your salary and never again buy anything off the internet, take a beat and be realistic. Make plans for adjustment rather than austerity.
