Markets Await Cyprus Bailout Deal, End Down for the Week

Weekly Wrap Up

This week investors and economists turned to the euro zone as lawmakers rejected a bailout deal in Cyprus and worked on a different resolution. In the US, Chairman Bernanke stated that the Fed would continue to support their current stimulus plan as the economy seems to be continuing to recover moderately. The housing industry saw positive data with home prices rising to the highest level in more than three years.

After struggling since the start of March, Apple (AAPL: Charts, News) finally begain seeing gains again this week.
Both Oracle (ORCL: Charts, News) and Adobe Systems (ADBE: Charts, News) stumbled and Lululemon (LULU: Charts, News) announced a product recall that will significantly affect sales. Despite seeing big gains on Friday, for the week oil declined slightly by 0.1%. Gold futures continued to finish with a gain for the third consecutive week. More Market News

Economic News

Despite Cyprus Woes, European Capital Markets Show Strength
Despite the banking crisis in Cyprus, Europe’s capital markets are still open for business. (Source: DealBook) Click here to read the full article
Easy Fed Softens Fiscal Policy Punch on Economy
The Federal Reserve's aggressive easing of monetary policy is proving surprisingly effective at blunting the blow to the economy from tighter fiscal policy, according to economists who have been scrambling to raise their growth forecasts. (Source: Yahoo!) Click here to read the full article
Existing-Home Sales and Prices Continue to Rise in February
February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of Realtors. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases. (Source: Realtor) Click here to read the full article

Business News

5 Winners and Losers of the Week in Business
From a happy homebuilder to an embarrassed yoga pants retailer to a popular website reaching a juicy milestone, here's a rundown of this week's big wins and toughest misses in the business world. (Source: DailyFinance) Click here to read the full article
Ulta Salon Plunges on Weak Frist Quarter Guidance
Shares of Ulta Salon, Cosmetic & Fragrance (ULTA: Charts, News) recently plunged, after the beauty retailer reported fourth quarter earnings that topped analyst estimates but offered weak guidance for the current quarter. Ulta operates full service salons, which feature hair services, pedicures, manicures and massages. It also sells beauty care products, such as make-up, fragrances, as well as skin and hair care products. (Source: InvestorGuide) Click here to read the full article
Who's Running Lululemon Athletica?
After the recent pants recall, lululemon athletica's management may be getting their feet held to the fire. The company just cut its EPS estimate for the year by about 10%, and its executive team will need to prove it has its supply chain under control. (Source: DailyFinance) Click here to read the full article

Technology Focus

Adobe Higher on Earnings News
Shares of the Adobe Systems (ADBE: Charts, News) were up +6 percent to $43.10 per share in afterhours trading on Tuesday, after the company announced a -65 percent decline in quarterly earnings. The decline in earnings was attributed to lower revenues and higher operating expenses, but the results were better than expected by analysts. Adobe stock closed at $40.75, down -0.31 or -0.75 percent in Tuesday’s regular trading session. (Source: InvestorGuide) Click here to read the full article
China's Facebook Renren Faceplants
Shares of Renren (RENN: Charts, News), often hyped as the "Facebook (FB: Charts, News) of China," slid at the end of last week after the largest social networking operator in China finished off a decent quarter with a bleak near-term outlook. (Source: InvestorGuide) Click here to read the full article

Your Money

What Businesses Need to Know About Abatement of Civil Penalties
If the recent economic climate forced you to be delinquent on payroll tax liabilities, you still need to remit these trust fund taxes. Because these funds belong to your employees, the IRS considers not filing paying them as stealing - and it will penalize you severely. (Source: Fox Business) Click here to read the full article
What it Really Takes to Succeed
The modern marketplace demands that people possess a wide range of skills. But what core qualities are truly essential to career advancement, regardless of industry or job? (Source: LinkedIn) Click here to read the full article
Published on Mar 22, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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