Street Ends on Mixed GDP Data, Indices See Weekly Gains (AMZN, AAPL)

Weekly Wrap Up

Towards the end of the week important economic data was released in the US, disappointing many investors and analysts. The US economy reportedly expanded at a rate of 2.5% during Q1, but at the same time government spending sank. Both factors fell short of expectations. The dollar declined in reaction to this news and gold had a loss on Friday as well but gained 4% for the week. Jobless claims announced on Thursday for the past week fell to a seasonally adjusted 339,000, close to a five-year low. In corporate news, Apple (AAPL: Charts, News) had a very volatile week but erased those losses by Friday.
Other such as AT&T (T: Charts, News), Ford (F: Charts, News) and Procter & Gamble (PG: Charts, News) slid after reporting earnings. More Market News

Economic News

US Economy Accelerates at 2.5 Percent Rate in Q1
Americans shrugged off higher taxes to lift the U.S. economy at the start of the year. Government spending fell, though, and the impact of the tax increases along with federal budget cuts could slow growth later this year. (Source: Yahoo!) Click here to read the full article
Weekly Jobless Claims Dip to Near Five-Year Low
There were 339,000 first-time claims for unemployment insurance last week, down 16,000 from the week before, the Employment and Training Administration says. (Source: NPR) Click here to read the full article

Business News

General Electric Slumps Despite Strong 1Q Earnings
Shares of General Electric (GE: Charts, News) slid last week, after the company followed up strong first quarter earnings with lackluster guidance. For its first quarter, GE earned $0.34 per share, or $3.53 billion, a 16% rise from the $0.29 per share, or $3.03 billion, it earned in the prior year quarter. (Source: InvestorGuide). Click here to read the full article
Chipotle Rallies on Strong First Quarter Earnings
Mexican quick serve restaurant Chipotle (CMG) surged last week after posting strong first quarter earnings. The company’s earnings per share rose 24.4% to $2.45, which topped the analyst consensus of $2.14 per share. (Source: InvestorGuide) Click here to read the full article
Nelson Peltz Discloses Massive Stakes in Mondelez International and PepsiCo
Shares of snack giant Mondelez International (MDLZ: Charts, News) rallied last week, after reports that activist investor Nelson Peltz’s Trian Fund Management has been accumulating large stakes in both Mondelez and PepsiCo (PEP: Charts, News) since late 2012. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Western Digital's Futures is in the Cloud
Shares of Western Digital Corporation (WDC,: Charts, News), rallied at the end of last week, after analysts upgraded the electronic data storage products manufacturer. (Source: InvestorGuide) Click here to read the full article
AT&T Reports Profit Up Over 3 Percent
Shares of AT&T Inc. (T: Charts, News) traded lower in after hours trading, dropping -0.63 or 1.62 percent to $38.37 per share Tuesday afternoon, after the company announced a +3.2 percent rise in first quarter profits. (Source: InvestorGuide) Click here to read the full article

Your Money

3 Ways Great Leaders Hold Themselves Back
Leadership is tough, and often confusing. To use two metaphors that frankly shouldn't be seen on the same page together, being a leader often feels like you're the only one driving northward in a southbound lane; or that you've suddenly found yourself alone, paddling a canoe through snaking river rapids. In fog. At night. (Source: Click here to read the full article
8 Biggest Career Mistakes That 20-Somethings Make
Dearest 20-somethings, we have seen the job market and we know it to be brutal.
But that doesn't mean one can simply ignore that our first work experiences have a lasting impact on the future. Dr. Meg Jay, author of "The Defining Decade" -- a book about how to make the most out of your 20s -- even estimates that as much as two-thirds of wage growth happens during the first 10 years of someone's career. (Source: Huffington Post) Click here to read the full article
Published on Apr 26, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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