Weekly Winners and Losers: LNKD, YHOO, AAPL

Weekly Wrap Up

Markets wrapped up Friday with losses across the board, consistent with the trending beginning Monday. Unemployment figures from April came in late in the week to mixed reviews - unemployment fell, but the rate of job growth fell as well. On a more positive note, US auto sales continue at a strong pace with a better than expected April and high hopes for the busy summer season.

In corporate news, Yahoo (YHOO: Charts, News) finds themselves in another CEO debacle, as a hedge fund discovered current head honcho Scott Thompson lied about his Computer Science degree.
On the flip side, the social network LinkedIn (LNKD: Charts, News) continues to please investors by beating expectations, which many seem to believe may be influenced by Facebook's impending IPO. More Market News

Economic News

US Unemployment Falls, But Job Growth Slows
The US unemployment rate fell to 8.1 percent in April, even as the number of new jobs slowed and more people quit looking for work, the Bureau of Labour Statistics said Friday.

The figures added to worries about a sluggish recovery as job growth remains stagnant and more people withdrew from the workforce ahead of November elections, in which President Barack Obama hopes to win another four-year term. (Source: Hispanic Business) Click here to read the full article
U.S. auto sales continue at strong pace
U.S. auto sales are still in the fast lane. Automakers released April sales figures Thursday, which came in mostly ahead of expectations and prompted further optimism about the industry's outlook in the months to come. (Source: CNN Money) Click here to read the full article

Business News

Yahoo says CEO Scott Thompson does not have computer science degree
Yahoo (YHOO: Charts, News) confirmed Friday that new chief executive Scott Thompson does not have a computer science degree and that the company's board is looking into the matter.

Thompson’s biography and Yahoo filings with the Securities and Exchange Commission both list that Thompson has degrees in accounting and computer science. But an activist Yahoo investor called the computer degree into question in a scathing letter to the company’s board on Thursday. After first calling the discrepancy a mistake, the board has started an investigation. (Source: Washington Post) Click here to read the full article
How Apple Sidesteps Billions in Taxes
Apple (AAPL: Charts, News), the world’s most profitable technology company, doesn’t design iPhones here. It doesn’t run AppleCare customer service from this city. And it doesn’t manufacture MacBooks or iPads anywhere nearby. (Source: New York Times) Click here to read the full article

Technology Focus

LinkedIn leaps on results, Facebook halo
Shares of LinkedIn (LNKD: Charts, News) rose Friday after the company beat Wall Street’s expectations, sparking more optimism about the professional social-networking site’s growth prospects.

The Mountain View, Calif.-based company reported first-quarter results late Thursday shortly after Facebook Inc. disclosed its initial public offering price range and size, signaling what many expect is the homestretch in the social-networking site’s much-awaited public debut. (Source: MarketWatch) Click here to read the full article
Amazon Kindle will stop being sold at Target
Target Corp. (TGT: Charts, News), the second largest U.S. discount chain, will stop selling Amazon.com Inc.’s (AMZN: Charts, News) Kindle brand of e-readers and tablets after two years, while continuing to offer similar products from Apple Inc. and Barnes & Noble Inc (BKS: Charts, News).

Amazon is expanding its category offerings and becoming a bigger competitor to retailers such as Target. In December, the world’s largest online retailer offered shoppers discounts to scan in products with their smartphones at retail stores and compare prices to its own site. (Source: Washington Post) Click here to read the full article

Your Money

Is Europe's Weakness Finally Reaching Germany?
The news out of Nuremberg, Germany, today that the number of unemployed Germans unexpectedly rose in April could have big implications for the rest of Europe.

Exhibit No. 1 for Germany’s pro-austerity case is the strength of the German economy. "See," the Germans’ message goes, "we are keeping our belts tight and our economy is still strong. Follow our example." If Germany weakens, it would have two conflicting effects, hurting the rest of Europe by decreasing Germany’s demand for their products, but possibly helping the rest of Europe by making Germany more sympathetic to the need for stimulus to restore growth. (Source: BusinessWeek) Click here to read the full article
Why Stocks This May Will Be A-OK
It's April 30, which means one thing - prepare to get overwhelmed with "Sell in May and go away" during every downtick over the next 31 days. And here's why May through September performance of the S&P 500 going back to 1998 has been lousy. (Source: Minyanville) Click here to read the full article
Published on May 3, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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