U.S. stocks fell Friday after a solid jobs report kept alive the possibly that the Federal Reserve may raise interest rates as soon as next month.
It was the seventh straight day of declines for the Dow Jones industrial average. That’s the longest losing streak for the index since July 2011, when investors were worried that the U.S. would slip back into recession.
There was a 5-cent increase in average hourly earnings last month, bringing the figure to $24.99. That’s a steady rate of increase, and arguably more sustainable than during late 2014, when the rate topped 300,000 one month and 400,000 another.
Moreover, the July gains were broad-based, with retail trade, health care, professional and technical services, and financial activities all adding positions.
“Trend job growth is rock solid”, said Ryan Sweet, a senior economist at Moody’s Analytics Inc., which correctly forecast the increase in payrolls in the Bloomberg survey. “Low inflation and cooling growth will create powerful arguments against rate hikes”, said Williamson, the Markit economist, pointing out that wages have only gone up 2.1% over the past year.
Cvent Inc (NYSE:CVT) finished last trade at $31.30, gaining +4.22%. Trading volume recorded for this company was about 1.10 million shares as compared to its average volume of 236,766 shares. The share price rushed almost +4.22% in the last one month while its 52 week high is $32.25. The company has the total of 41.56M outstanding shares while its market capitalization is now about $1.30B. Cvent, Inc. (CVT) a leading cloud-based enterprise event management platform, today announced that its co-founder and President of Worldwide Sales and Marketing, Chuck Ghoorah, will present at the Pacific Crest Global Technology Leadership Forum to be held in Vail, CO.
The Cvent presentation is scheduled for Monday, August 10, 2015, at 3:00 p.m. MT (5:00 p.m. ET). A live webcast, as well as the replay, will be available under the “Events Calendar” page of the company’s Investor Relations website at
Entravision Communication (NYSE:EVC) closed at $7.98, up +1.02%, on volume of over 1.28 million shares. The share price went up 7.33% in the last 5 days. The company has an average trading volume of 381,694 shares. In the time frame of the last one month, shares dropped almost -0.06%. Its market capitalization was $700.51M. Entravision Communications Corporation (EVC) reported financial results for the three- and six-month periods ended June 30, 2015.
Historical results, which are attached, are in thousands of U.S. dollars (except share and per share data). This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each of these non-GAAP financial measures, and a table reconciling each of these non-GAAP financial measures to its most directly comparable GAAP financial measure is included beginning on page 10. Unaudited financial highlights are as follows:
Planet Fitness Inc (NYSE:PLNT) traded with +2.25% gain momentum to $18.25 in the latest trading session It captured $1.80B in market value. The total number of shares traded on the latest trading day was about 1.84 million shares. The day started out with an opening price of $16.07 and changed hands at price range of $16.00 to $18.45 apiece. Planet Fitness, Inc. (PLNT) announced the pricing of its initial public offering of 13,500,000 shares of its Class A common stock at a public offering price of $16.00 per share. The shares are expected to begin trading on the New York Stock Exchange on August 6, 2015 under the ticker symbol “PLNT.” In addition, the Company and certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,025,000 shares of the Company’s Class A common stock at the initial public offering price, less underwriting discounts and commissions.
The closing for the offering is expected to occur on August 11, 2015, subject to the satisfaction of customary closing conditions.
Post Holdings Inc (NYSE:POST) shares touched a high of $62.11 before closing at $58.09, an increase of +6.43%. The trading volume was 4.54 million shares. Its shares advanced about 20.66% since the start of year and has at 8.2% gain momentum in last three months. Post Holdings, Inc. (POST) a consumer packaged goods holding company, reported results today for the fiscal quarter ended June 30, 2015.
- Net sales of $1,211.8 million; Adjusted EBITDA of $187.5 million
- Completed the acquisition of MOM Brands on May 4, 2015
- Raises fiscal 2015 Adjusted EBITDA guidance to between $635.0 million and $650.0 million
Third Quarter Consolidated Operating Results
Third quarter net sales were $1,211.8 million, an increase of $578.8 million, or 91.4%, compared to the prior year. The sales increase was driven by businesses acquired after June 30, 2014 and the lapping of partial period results in third quarter 2014 from Michael Foods, acquired on June 2, 2014. On a comparable basis, net sales increased 3.1%, or $38.2 million, over the same period in fiscal 2014.