US Stocks traded higher last week and the S&P 500 crossed the psychological 2,900 mark on Friday, putting the market on track to take back its all-time highs if earnings reports are better-than-expected, and companies provide positive guidance.
Vancouver take-and-bake pizza chain Papa Murphy’s sold Thursday for $190 million in cash, a 32 percent premium on the company’s closing share price Wednesday.
The buyer is MTY Food Group, a Canadian chain that owns 75 quick-service and casual dining chains including Baja Fresh, Cold Stone Creamery, TacoTime and TCBY Frozen Yogurt. It had 6,000 locations prior to the Papa Murphy’s deal.
Shares of J.P. Morgan Chase surged higher after the banking giant reported first-quarter profit and revenue that rose above expectations. In contrast shares of Wells Fargo swung to a sharp loss, after the bank lowered its outlook for net interest income, citing an unfavorable rate environment and an increasingly competitive marketplace.
Tiger Woods’ winning the Masters yesterday was an even bigger win for Nike. The advertising value of Tigers victory for Nike is roughly $22,540,000, according to Apex Marketing. Shortly after Woods was declared the winner, Nike dropped a video on its social media channels starring the golfer. By Sunday afternoon, some of the Tiger Woods-branded apparel and accessories for men on Nike’s website were sold out.