EA CEO Resigns; Markets Stumble on Euro Zone Worries (EA, HPQ)
On Monday fears rose over the euro zone crisis as finance ministers delayed their vote on a bailout for Greece. Banks in Cyprus were shut today for a holiday but will remain closed until Thursday. Conflicting reports caused the euro to fall against the US dollar and sent gold futures higher to settle over $1,600 an ounce. Apple (AAPL) was up on Monday on recent expectations of a dividend increase of more than 50%. Other tech stocks such as Advanced Micro Devices (AMD) and Hewlett-Packard (HPQ) also climbed while several social media companies faltered.Companies SuperMedia (SPMD) and Dex One (DEXO) announced bankruptcy and hope to finish their merger deal sometime during the first half of the year. CEO Riccitiello of Electronic Arts (EA) announced on Monday that he would be stepping down, and the company saw shares jump 5% in after-hours trading.
Word on the Street
- Home builder confidence in the US drops this month on rising costs and limited supplies.
- Lawmakers postpone vote on Greek bailout; Cyprus banks to stayed closed until Thursday.
- Hewlett-Packard (HPQ) continues to climb and is already up 60% this year.
- Goldman Sachs (GS) and Morgan Stanley (MS) raise their estimates for 2013.
- Despite the 787's battery troubles, Boeing (BA) clsoes at a five-year high.
- Yellow page companies SuperMedia (SPMD) and Dex One (DEXO) announce bankruptcy in hopes to merge by this summer.
- America Movil (AMX) Slides as Increased Regulation Looms.
- Three hot interned companies and how they plan to build and sustain their businesses.
- Don't let fear get in your way--it's time to invest in yourself and your future.
Published on Mar 18, 2013By InvestorGuide Staff