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The Good, the Bad, and the Ugly: Unemployment, Job Growth, and Yahoo’s Debacle (YHOO, XOM)

By: , dated May 4th, 2012
Markets see significant losses for the second day in a row on a slew of bad and strange news. The jobs report for April came in a mixed bag. The unemployment rate fell for the month, however job growth also fell. The conflicting news sent both domestic and global stocks down. Oil companies like Exxon (XOM) and British Petroleum (BP) took a particularly strong hit after US crude oil fell more than 4 percent.
In more unconventional news, rumors regarding Yahoo’s (YHOO) CEO that began circulating yesterday have been found to be true. Scott Thompson lied about his Computer Science degree, causing decision makers to call for his firing. The head position has been a revolving door for Yahoo since it’s fall from grace. In other corporate news, LinkedIn (LNKD) reported strong earnings, beating expectations and raising revenue hopes for future social companies to go public.

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