Earnings Recap Week Ending July 7th, 2017

NEW YORK, July 7, 2017 /PRNewswire/ --

U.S. stocks traded lower on Thursday as technology stocks sell off again and U.S. Treasury yields rose. The Dow Jones Industrial Average fell as much as 158 points, or 0.74 percent, to 21,320.04, the S&P 500 also dropped 22.79 points, or 0.94 percent, to 2,409.75, while the tech-heavy NASDAQ Composite closed 1 percent lower at 6089.46. The technology sector is the best-performing sector this year, but it has been under pressure in the past few weeks. The tech sector is down for four out of five trading sessions due to high valuation concerns. The hawkish tone from major central banks sent the treasuries yield higher. U.S. 10-year Treasury yield rose four basis points to 2.37 percent.

Randy Frederick, Vice President of trading and derivatives at Charles Schwab, said in a CNBC report: "Tech has been a strong performer for a very long time, so it's not that surprising to see some weakness every now and then. I think people are also warming up to the idea that interest rates may be going higher, so you've seen a move into financials."

Bad news hit Tesla Inc. (NASDAQ: TSLA) this week. Goldman Sachs released a report where it outlined concerns over slowing sales growth of the company's current electric cars. Shares of Tesla dropped about 15% since the report was announced. "We remain sell rated on shares of TSLA where we see potential for downside as the Model 3 launch curve undershoots the company's production targets and as 2H17 margins likely disappoint, " Goldman analyst explained. "This comes as demand for TSLA's established products (Model S and Model X) appear to be plateauing slightly below a 100k annual run rate."

BeiGene Ltd (NASDAQ: BGNE) shares surged more than 12.5% on Thursday on news of collaboration with Celgene Corporation (NASDAQ: CELG). BeiGene will reportedly receive $263 million in licensing fees, and according to the agreement with Celgene, BeiGene is eligible to receive a $980 million in milestone payment and royalties. Celgene is to acquire 5.9% of BeiGene stock at $59.55. Thursday BGNE reached a high of more than $68 a share. The agreement focuses on developing and commercializing BeiGene's cancer drug BGB-A317 in around the world except Asia, but including Japan. BGB-A317 is a monoclonal antibody, and has the potential to restore a T-cell's cancer killing ability by inhibiting PD-1 and removing the blockade of immune activation against cancer. 

Liberty Interactive Corp. (NASDAQ: QVCA) buys the remaining 62 percent of HSN, Inc. (NASDAQ: HSNI). Shares of HSN jumped more than 26% on Thursday after the announcement. Liberty Interactive intends to issue 53.4 million shares of QVC Series A common stock to HSNi shareholders. Based on the Series A QVC Group common stock's closing price as of July 5, 2017 and the number of HSNi undiluted shares outstanding as of May 1, 2017, this equates to a total enterprise value for HSNi of $2.6 billion, an equity value of $2.1 billion, and consideration of $40.36 per HSNi share, representing a premium of $9.06 per share or 29% to HSNi shareholders, based on HSNi's closing price on July 5, 2017. The acquisition of HSNi is expected to be completed by the fourth quarter of 2017. "We are excited to announce the acquisition of HSNi. The addition of HSN will enhance QVC's position as the leading global video e-Commerce retailer. Every year they together produce over 55,000 hours of shoppable video content and have strong positions on multiple linear channels and OTT platforms," said Greg Maffei, Liberty Interactive President and CEO. "The value of the combined QVC, HSNi and zulily will be further highlighted when later this year QVC Group becomes an asset-backed stock as part of the previously announced split-off of Liberty Ventures."

Follow us on Twitter for real-time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like us to receive live feeds:

About, 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, creates 100% unique original content. 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: 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 (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, 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. 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. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, has not been compensated for financial news dissemination and PR services by 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. will always disclose any compensation in securities or cash payments for financial news PR advertising. 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., 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. 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 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 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:


        For further information: