Global Growth Slows; S&P Has Worst Week Since November (IBM, AAPL)

Weekly Wrap Up

This was a mixed week for the major indices with earnings reports that were both hits and misses. Several big corporations had positive news for investors, including Google (GOOG: Charts, News), Microsoft (MSFT: Charts, News) and eBay (EBAY: Charts, News), while others missed expectations.
Apple (AAPL: Charts, News) continued to fall and lost its market cap crown to Exxon (XOM: Charts, News). IBM (IBM: Charts, News) saw its worst day in eight years after a disappointing Q1 report.

The IMF released several reports indicating that global economic growth for the year will be lower than expected. Jobs claims increased from last week and even though homebuilder confidence reached its lowest level since October, home sales continue to climb and offer hope for the market. Oil rose to around $88 a barrel on Friday but saw a 3.6% drop for the week. More Market News

Economic News

Jobs, Factory Data Point to Slowing Economy
The number of Americans filing new claims for unemployment benefits rose last week and factory activity in the nation's Mid-Atlantic region cooled in April, further signs of a moderation in economic growth. (Source: Yahoo) Click here to read the full article
Stock Futures Rise, Take Cue From Global Equities
U.S. stock futures rose Friday, but trimmed their advance on a continued stream of mixed earnings reports as Wall Street remained on track for a weekly loss. (Source: MarketWatch) Click here to read the full article

Business News

Budweiser Maker Strikes Game-Changing Deal
The U.S. Justice Department and Anheuser-Busch InBev have agreed to conditions that will allow the beer giant to expand its stake in Mexico's Grupo Modelo, according to court documents and company statements on Friday. (Source: Huffington Post) Click here to read the full article
General Motors Could Be Overtaken by Volkswagen Soon
Things might get rough soon for General Motors (GM: Charts, News), the second largest automaker in the world. While the Detroit-based automaker was able to momentarily claim the crown as the world’s top automaker last year after Toyota (TM: Charts, News) was hit by tsunami-related losses, things are looking increasingly bleak for 2013. (Source: InvestorGuide) Click here to read the full article
Bad Times Ahead for Yum! Brands
Yum Brands (YUM), the parent company of Pizza Hut, Taco Bell, and KFC, has had tough couple of months. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Yahoo Reports Better Earnings, Lower Revenues
Shares of Yahoo Inc. (YHOO: Charts, News) closed down -0.19 or -0.79 percent to $23.79 per share on Tuesday, ahead of the company’s 2013 first quarter earnings report. Yahoo stock sold off after the announcement and was trading down -1.15 or -4.83 percent in Wednesday’s pre-market trading session. (Source: InvestorGuide) Click here to read the full article
Infosys Plunges 20% on Weak 4Q Earnings and Guidance
Shares of Indian business consulting, technology, engineering and outsourcing services company Infosys Limited (INFY: Charts, News) plunged last week, after the Bangalore, Karnataka-based company reported fourth quarter earnings that topped on profit but missed on top line growth. (Source: InvestorGuide) Click here to read the full article

Your Money

Student Debt May Hurt Economy as Record Levels Dampen Other Loans
The overhang of student debt on young workers may inhibit consumption and future borrowing, researchers at the Federal Reserve Bank of New York warn, potentially imperiling the economic recovery for years to come. (Source: Huffington Post) Click here to read the full article
Why ‘Innovate or Die’ Is a Lie
"Innovate or die" is an expression you hear tossed around a lot. It tells me quickly that the people using it are not really all that innovative and in most cases do not know what it takes to build a fast-growth company. When the fast growth starts to fade, as it always does, the problem is rarely innovation. (Source: NY Times) Click here to read the full article
Published on Apr 19, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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