Stocks Rally on German Confidence (GS, FSLR)
Survey results on German sentiment as well as a decline in Spanish bond yields led to a tremendous market rally today, with major indices up around 1.5 percent. In corporate news, Goldman Sachs (GS) experienced a year over year decline in Q1; a 16 percent drop in revenue and a 23 percent drop in net income. Solar power company First Solar (FSLR) saw a big jump in their stock value after they announced that they would be cutting 2,000 jobs, about 30 percent of their global workforce.
Word on the Street
- The results of a German confidence survey sent major indices up today.
- Goldman Sachs (GS) Q1 revenue fell 16 percent year over year.
- First Solar (FSLR) announced it would be laying off 30 percent of its work force.
- John Paulson is going short on German sovereign bonds.
- Experts believe a bailout for Spain is imminent.
- Apple (AAPL) broke its losing streak by jumping over 5 percent today.
Published on Apr 17, 2012By InvestorGuide Staff