Rare US Budget Surplus Reported for April; Dell Receives Fresh Bid (DELL)
On Friday the Fed began a two-day gathering for finance ministers to discuss banks and competition. Ben Bernanke made statements that the US central bank will keep watch on the risks that go along with low interest rates. It was announced that the US had its largest budget surplus in five years in April. The Dow continued to push its record and the major indices all tallied a third consecutive week of gains. Dell (DELL) received a bid from Icahn on Friday but there was some skepticism about the proposal. Expedia Inc. (EXPE) rose 5.2% after rival Priceline.com Inc. (PCLN) reported Q1 earnings that beat expectations.The dollar reached a four-and-a-half-year high against the Japanese yen while gold futures declined and saw a 2% loss for the week.
Word on the Street
- The US monthly budget for April had its biggest surplus in five years in April.
- Dell (DELL) gets bid from Carl Icahn and sends shares higher on Friday.
- It looks like Germany is recovering the fastest among the 27 EU countries.
- True Religion (TRLG) makes deal for $835 million with private equity firm.
- The Oracle Wins Again as Berkshire's (BRK.A) Profits Soar 51%.
Published on May 10, 2013By InvestorGuide Staff