On Thursday, Shares of T. Rowe Price Group Inc (NASDAQ:TROW), added 2.84% and closed at $70.29 in the last trading session. The last trading range of the stock ranges between $68.35 and $74.18. T. Rowe Price’s Parents, Kids & Money Survey, which sampled more than 1,000 parents and their 8 to 14 year old kids in February 2016, revealed that many parents are willing to overextend their finances to fulfill their kids’ holiday wish lists. And 25% of parents have either taken from their 401(k)s or their emergency funds or taken a payday loan to cover holiday spending.
Marty Allenbaugh, a CERTIFIED FINANCIAL PLANNER™ at T. Rowe Price, says, “No one wants to be a Scrooge. Between our inclination to be generous during the holiday season and the blockbuster retail deals, playing Santa can be kryptonite for even the savviest budgeters. But splurging a little shouldn’t turn into indulgence at the expense of financial well-being. Retirement accounts are meant to fund retirement. Emergency funds are meant to fund emergencies. Payday loans should be the last of last resorts. Nothing that comes wrapped in a ribbon is worth the consequence of bending these rules.”
As an example of the potential long-term impact of pulling from retirement savings, a 35 year old taking a distribution from her 401(k) to cover $500 in holiday spending could be sacrificing nearly $6,000 at retirement.
Momo Inc (ADR) (NASDAQ:MOMO), DROPPED -6.27% and closed at $22.03 in the last trading session. The last trading range of the stock ranges between $21.45 and $23.92. The company’s Market capitalization is $4.28 Billion with the total Outstanding Shares of 288.44 Million. Momo Inc. (MOMO) (“Momo” or the “Company”), a leading mobile social networking platform in China, recently declared its unaudited financial results for the third quarter 2016.
Third Quarter 2016 Highlights
Net revenues raised 319% year over year to $157.0 million.
Net income attributable to Momo Inc. raised to $39.0 million in the third quarter 2016 from a net loss of $0.8 million in the same period last year.
Non-GAAP net income attributable to Momo Inc. (note 1) raised 1,182% to $49.5 million in the third quarter 2016 from $3.9 million in the same period last year.
Diluted net income per American Depositary Share (“ADS”) was $0.19, contrast to a diluted net loss per ADS of $0.00 in the same period last year.
Non-GAAP diluted net income per ADS (note 1) was $0.24, contrast to $0.02 in the same period last year.
Monthly Active Users (“MAU”)1 were 77.4 million in September 2016, contrast to 73.0 million in September 2015.