Stocks Recover on Monday; Housing Market Releases Weak Data (CAT, MSFT)

After what was the worst week of 2013, stocks mostly rose on Monday and reversed some of those declines. Several large corporations released upbeat results, including Halliburton (HAL) whose stock rose close to 5%. Despite disappointing investors initially with a cut in its full year outlook, Caterpillar (CAT) was up by the end of the day after announcing plans to buy back stock. Hedge fund CEO Jeffrey Ubben announced that he is taking a $2 billion stake in Microsoft (MSFT), sending shares up 5%.
Both GE (GE) and McDonald's (MCD) continued to drop on Monday. The housing market surprised many after sharing that existing home sales fell slightly in March, while analysts had expected a slight gain. After dropping below $90 a barrel last week for the first time this year, oil prices edged higher on Monday to $88.76.

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Published on Apr 22, 2013
By InvestorGuide Staff

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