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Stock Market Daily Recap Nov 1, 2012

November 5th, 2012

Starting the month of November are waiting for tomorrows employment report. ISM Manufacturing showed better readings, and the ADP had an employment gain of over 100,000 which lifted the market.

After the bell, LinkedIn and Starbucks posted earnings that beat the street and were up about 7% after hours.

LNKD reported better-than-expected 3rd quarter results and raised revenue guidance for the whole year. Projecting about 80% growth. EPS came in at 22 cents, twice what Wall Street expected making it always a positive sign.

It grew its membership 47% year-over-year. 70% of the new memberships added in the quarter came from outside the US.

Starbucks (SBUX) showed strong sales growth and increased dividend from 17 cents to 21 cents / share. Shares jumped compared to 3 months ago when the results make the company tank. The company is expanding aggressively internationally with plans to open 600 new stores in the Asia-Pacific region during 2013.

Financials also seem to be showing some strength today.... Especially JPM which broke this horizontal resistance point.

Author: Sasha Evdakov

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