Wall Street Notches Solid Gains for the Week (HPQ, JCP)

Weekly Wrap Up

Despite paring some losses on Friday, the major indices saw record levels earlier in the week. On Thursday the Dow settled at a record high for the third day in a row and the S&P hit its second consecutive record high. The jobless claims report this week was a positive one, but it was announced that retail sales fell more than was expected for March and consumer sentiment fell to its lowest level in nine months.

Major banks such as JPMorgan Chase (JPM: Charts, News) and Wells Fargo (WFC: Charts, News) announced Q1 results.
JC Penney (JCP: Charts, News) dropped earlier in the week after announcing CEO Ron Johnson would be leaving the executive board. Crude oil futures settled 2% lower for the week at the lowest level in over a month. More Market News

Economic News

US Stocks Pare Losses After Consumer Headwind
U.S. stocks on Friday pared losses caused by a drop in retail sales in March and weaker consumer sentiment that put a streak of record-setting gains in jeopardy. (Source: MarketWatch) Click here to read the full article
Euro Ministers Back 10 Billion Euro Cyprus Bailout
Euro zone finance ministers backed a 10 billion euro bailout for Cyprus on Friday and the European Commission said it would try to help the island's economy grow again with better use of EU structural funds. (Source: Yahoo!) Click here to read the full article
US Jobless Claims Drop 42,000 to 346,000
New applications for unemployment benefits fell sharply last week after a spike the week before, largely reflecting seasonal quirks around Easter and spring break and signaling little change in the trajectory of a slowly mending labor market. (Source: MarketWatch) Click here to read the full article

Business News

First Solar Shares Soar on Guidance, TetraSun Acquisition
Shares of First Solar Inc. (FSLR: Charts, News) closed up +12.31 or +45.54 percent to $39.35 per share on Tuesday, after the company announced an optimistic guidance for its 2013 fiscal year. The stock’s precipitous rise in Tuesday’s session triggered NASDAQ circuit breakers and was halted five times during trading. (Source: InvestorGuide) Click here to read the full article
WD-40 Rallies Strongly on Robust Second Quarter Earnings
Shares of WD-40 (WDFC: Charts, News), the maker of its namesake multi-purpose lubricant and other household products, rallied strong last week after the company reported solid second quarter earnings. (Source: InvestorGuide) Click here to read the full article
Walt Disney Closes LucasArts Games, Plans Layoffs
Last week, The Walt Disney Company (DIS) announced that it would start laying off staff in its studio and consumer product divisions to streamline the company’s operations. It also announced that it would shut down LucasArts games studio, which it acquired with its acquisition of LucasFilm. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Facebook Phones Home
Last week, Facebook (FB: Charts, News) announced "Home" for Android, a hub application that ties together Facebook features and mobile apps on a single platform. Prior to the announcement, finance writers and analysts had been speculating that Facebook might release a phone to compete with Apple’s (AAPL: Charts, News) iPhone or other Google (GOOG: Charts, News) Android devices. (Source: InvestorGuide) Click here to read the full article
Hewlett-Packard Shareholders Push Back
Over the past few weeks, Hewlett-Packard (HPQ: Charts, News) shareholders, led by activist investor Ralph Whitworth, have been revolting against the beleaguered company’s board. Chairman Ray Lane, who narrowly won reelection at the company’s annual shareholders meeting with 60% of the vote, stepped down last week as the latest casualty of the company’s botched $11 billion acquisition of Autonomy. (Source: InvestorGuide) Click here to read the full article

Your Money

Money 101: Q&A with Warren Buffet
To commemorate Financial Literacy month, Yahoo! Finance is proud to bring you a Q&A about financial education for kids with famed investor Warren Buffett. (Source: Yahoo!) Click here to read the full article
How to File a Tax Extension
Tax Day is only a few days away. If you don't think you'll have your forms prepared on time, you'll need to file for an extension. (Source: Huffington Post) Click here to read the full article
Published on Apr 12, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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