S&P Positive For Seventh Week; Major Mergers Create Headlines (BRK.A, CMCSA)

Weekly Wrap Up

This was the seventh consecutive week that the S&P 500 ticker higher while the rest of the major indices finished mixed. Several large mergers were announced this week, including a deal between Comcast (CMCSA: Charts, News) and NBC Universal for $16.7 billion, the merger between AMR Corp (AAMRQ: Charts, News) and US Airways, as well as the buyout of Heinz by Berkshire Hathaway's (BRK.A: Charts, News) Buffett and 3G Capital to create the largest deal in the food industry's history.
For the week gold futures dropped under $1,600 an ounce for the first time since August as economic optimism in the US increased. Oil prices lost about 0.2% for the week. More Market News

Economic News

US Consumer Sentiment Improves Job Outlook
U.S. consumer sentiment improved in February, buoyed by signs of increased hiring, though worries heightened about a decline in future income, a survey released on Friday showed. (Source: Reuters) Click here to read the full article
G20 Chiefs Play Down Currency War Fears
The yen fell sharply as global financial leaders gathered in Moscow tried to play down fears of a currency war and signalled that they would not interfere in Japan’s plans to boost its economy. (Source: Financial Times) Click here to read the full article
Gold Futures Drop 1/6% to Lose Over 3% on Week
Gold futures finished sharply lower Friday to lose 3.4% for the week. Prices managed to close above key support at $1,600 an ounce, after a brief dip below that level during the trading session. (Source: MarketWatch) Click here to read the full article

Business News

Berkshire Hathaway and 3G Capital Buy Heinz for $28 Billion
One major deal dominated Wall Street headlines this week – Warren Buffett’s Berkshire Hathaway (BRK.A: Charts, News) and 3G Capital acquiring ketchup giant Heinz (HNZ: Charts, News) for $28 billion. Heinz shareholders will receive $72.50 per share, a 20% acquisition premium. The Heinz acquisition is the largest takeover in the food industry’s history. (Source: InvestorGuide) Click here to read the full article
Wal-Mart Drags on Dow After 'Sales Disaster' Email
Shares of Wal-Mart Stores Inc. (WMT: Charts, News) weighed heavily on the Dow Jones Industrial Index (DJIA: Charts, News), pulling the index into negative territory after a Bloomberg report showed an executive bemoaning the state of February sales. (Source: MarketWatch) Click here to read the full article
Nuance Slides After Missing Earnings Forecasts
Shares of Nuance Communications (NUAN: Charts, News) slid 20% this week after the company, which specializes in speech-to-text recognition software, slightly missed earnings forecasts and announced weaker than expected guidance for the full year. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Dell Goes Private in Leveraged Buyout Worth $22.4 Billion
Last week, PC manufacturer Dell (DELL: Charts, News) announced that it will go private in a $22.4 billion leveraged buyout, handing the company over to CEO Michael Dell and private investment firm Silver Lake in the largest LBO since the recession. (Source: InvestorGuide) Click here to read the full article
Comcast Clinches Control of NBC Universal and Announces Big Income and Dividend Rises
Shares of Comcast Corporation (CMCSA: Charts, News) were up 3.26 and 2.92 or +8.42 and +7.77 percent to $42.23 and $40.50 per share respectively in pre-market trading on Wednesday after the company said it had clinched a deal to finish buying NBC Universal Media, LLC for $16.7 billion from General Electric (GE: Charts, News). (Source: InvestorGuide) Click here to read the full article

Your Money

2 Kinds of Leadership: Are You a Steve Jobs or a Jack Welch?
Great leaders are hard to come by, and they often seem to have more differences than similarities. Some are smooth; some are gruff. Some are aggressive; some excel at politicking. (Source: Inc.com) Click here to read the full article
Smart Ways to Spend Your Tax Refund
Despite the late start to the this year’s tax season, refund checks are already rolling in. About 75% of taxpayers are expected to receive refunds this year, according to estimates from the Internal Revenue Service, with the average check coming out to about $3,000. And as this winter windfall arrives, Americans wrestle with competing desires to spend, save, or invest the cash. (Source: MarketWatch) Click here to read the full article
Published on Feb 15, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

Posted in ...