Postal Service Announces End to Saturday Delivery; Global Stocks Stall

Stocks ended mixed on Wednesday as the tech industry struggled. Despite the small changes on Wall Street today, the S&P 500 has now gained 6% so far this year and continues to push the equity market upward. European stocks fell to two-month lows ahead of an ECB meeting that could reveal concern over the economic stability and question the strength of the euro. On the other hand, the markets in Asia rallied with Japanese stocks reaching the highest level in almost five years. Both Disney (DIS) and Time Warner (TWX) beat investor expectations and saw shares climb. After the bell Green Mountain Coffee Roasters (GMCR) announced net profit that beat the same quarter one year ago, while Expedia (EXPE) slipped on a rating cut due to stronger industry competition. Currently GOP lawmakers in the US are working on a plan for budget cuts in the federal workforce in order to avoid an automatic cut policy that resulted in 2011.

Word on the Street

• US Postal Service announces end of Saturday delivery in August of this year.
• Time Warner (TWX) shares rise on positive profits during its final quarter of 2012.
• Google (GOOG) buys Channel Intelligence in the hopes of improving its shopping service.
• After-the-bell results prove positive for Green Mountain (GMCR) and Blackberry (BBRY).
• Ralph Lauren (RL) Q3 earnings climb 28% on improved holiday sales and lower tax rate.
• Oil futures flat on Wednesday after a supply report that showed less than expected.
• First Solar Inc. (FSLR) shares jump 7.5% after its buy rating is upgraded.
• Virgin Media (VMED) to be Acquired by Liberty Global.

Interesting Tidbits

• Should cultural fit be a deciding factor when hiring new employees?
• Whole Food’s co-CEO John Mackey on business, crisis and health care in America.