“Fab Five” isn’t So Fab Anymore
(Bloomberg) – Netflix? Down.
Did that sting a little bit? It should have, as the “Fab Five” had its worst decline on Thursday since 2013. The renowned group has kept plenty of traders smiling from ear-to-ear in 2015, but yesterday it was clear how much control of the market they have. A whopping total of $49 billion in market value was obliterated, as the cliché of “what goes up, must come down” sadly came true.
“Those five companies are the reason the market had been going up through the end of July — it makes sense that they would also lead the shift on the downside,” said Bill Mann, who helps oversee $1.5 billion at Motley Fool Asset Management LLC in Alexandria, Virginia.
Read the entire article at Bloomberg
More coverage: Business Net
Mickey Mouse and Friends Decline Four Percent
(CNBC) – In a strange twist of fate, the “Happiest Place On Earth” declined by four percent on Thursday. As shares of Walt Disney (NYSE:DIS) declined this week, media shares followed suite, leading to some very interesting observations and possibly signs of where the market is headed.
CNBC’s Jim Cramer took to his soapbox to discuss Disney’s recent downgrade from “outperform” to “market perform,” issued by Wall Street research firm Bernstein. Although most would still rate the theme park giant as a Buy, cable television in general is taking a big hit this year as more people cut the cord on bundle packages and cable all together.
Read the entire article at CNBC
More coverage: CNN Money and Investor Place
Is BB&T A Deal-Making Machine? You Decide.
(USA Today) – Recently, BB&T Corporation (NYSE:BBT) released word that it is planning on acquiring National Bankshares (NASDAQ:NPBC) in a $1.8 billion cash-and-stock banking industry deal. While that deal is impressive in and of itself, it is only one of four deals that BB&T has made throughout the past year.
Kelly S. King, chairman and CEO of BB&T stated, “The acquisition of National Penn provides a tremendous opportunity to strengthen our franchise in Pennsylvania and continue building the scale necessary to operate efficiently and with high-quality service,” he said. “As the fourth largest bank in the state, we will have a significant presence in these markets.”
Four must be its magic number, because this deal moves BB&T up to fourth place by market share in Pennsylvania.
Press release issued by BB&T
Read the entire article at USA Today
More coverage: Franchise Herald and Financial Buzz