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Market Close Report: NASDAQ Composite index closes at 3,498.97 up 33.73 points

Friday's session closes with the NASDAQ Composite Index at 3,498.97. The total shares traded for the NASDAQ was over 1.78 billion. Advancers stocks led declining by 2.2 to 1 ratio. There were [...]


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Moving the Market

 Briefing.com - LIVE market analysis Market Summary  | Stocks On The Move
5/17/2013 4:15 PM ET
[BRIEFING.COM]

[BRIEFING.COM] The S&P 500 ended this week with a bang, roaring to a new all-time high on the back of stronger-than-expected economic data, influential leadership, and an ongoing appreciation for the Fed's monetary policy...

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  • 6:23 PM   32% of all Q1 U.S. smartphone sales involved prepaid phones, up from 21% a year ago and 22% in Q4 2012, says NPD. That trend could spell trouble for AT&T (T) and Verizon Wireless ([[VZ]], [[VOD]]), whose recent growth has been heavily tied to selling postpaid data plans. With 72% and 61% of the carriers' postpaid bases now respectively on smartphones, they face pressure to gain prepaid buyers without cannibalizing postpaid subs. Cannibalization fears have led AT&T and Verizon to make their prepaid plans 3G-only; Sprint (S) and T-Mobile (TMUS) offer 4G. A mix shift towards unsubsidized prepaid phones could also be a challenge for Apple (AAPL), estimated to have just 8% of the Q1 U.S. prepaid smartphone market (though that's up 4x Y/Y).
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