US Indices Finish With Fourth Straight Week of Gains (DELL, TSLA)

Weekly Wrap Up

Several positive economic indicators were released towards the end of the week that signaled economic expansion in the US. Consumer sentiment rose more than was anticipated and unemployment dropped in many states throughout the country. Both the Dow and S&P hit record highs at points during the week.

Companies such as Cisco (CSCO: Charts, News) and Macy's (M: Charts, News) gained after sharing earnings.
Autdesk (ADSK: Charts, News), J.C. Penney (JCP: Charts, News) and Dell (DELL: Charts, News) all stumbled. The dollar rose above 103 yen for the first time in four years on Friday while gold futures lost $109 over the course of seven days. More Market News

Economic News

Keep Rates Low Until Jobless Rate Normalizes: Fed's Kocherlakota
Minneapolis Federal Reserve President Narayana Kocherlakota on Friday repeated his call for the U.S. central bank to commit to keeping short-term interest rates low until the unemployment rate "normalizes." (Source: Reuters) Click here to read the full article
World Stocks Strong Into the Weekend
World stock markets rose steadily on Friday after two key indicators suggested the U.S. economic expansion will continue. (Source: Yahoo!) Click here to read the full article

Business News

Tesla Stock Off 5 Percent as Short Squeeze Abates
Shares of Tesla Inc. (TSLA: Charts, News) closed down -4.56 or -5.19 percent to $83.24 on Tuesday, after having traded as high as 97.12 inter-day, a new all-time high. Tesla stock had been trading at $56.00 per share on Wednesday, May 8th, before soaring after the company reported its first quarterly profit in its ten-year history. (Source: InvestorGuide) Click here to read the full article
Burger King's Value Menu Troubles
The market has been indifferent to Burger King Worldwide’s (BKW: Charts, News) first quarter earnings, which the company reported at the end of April. (Source: InvestorGuide) Click here to read the full article
Wendy's Attempts to Go Bistro
Last week, fast food giant Wendy’s (WEN: Charts, News) slid after the company reported disappointing first quarter earnings. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Electronic Arts Soars on Star Wars
Last week, Activision (ATVI: Charts, News) reported better-than-expected earnings, but was harshly punished for a loss of World of Warcraft subscribers and weaker-than-expected guidance. Yet on the same day, its rival Electronic Arts (EA: Charts, News) rallied 17% after missing earnings estimates and barely edging past top line expectations. What happened? (Source: InvestorGuide) Click here to read the full article
Activision Blizzard Slumps on Bleak World of Warcraft Declines
Shares of video game publisher Activision Blizzard (ATVI: Charts, News) slipped last week, despite reporter strong first quarter earnings that beat analyst estimates on both the top and bottom lines. (Source: InvestorGuide) Click here to read the full article
Tech Stocks: Facebook, two IPOs Stand Out for Tech Stocks
Social network’s shares are still down 30% from public offering; Tableau Software surges 56% and Marketo climbs 60% as both companies hold their IPOs. (Source: MarketWatch) Click here to read the full article

Your Money

Wealth Strategies: Gundlach on Japan, Apple and Bubbles
Find out why investors are 'drowning' in central banking and how Apple is the new Microsoft according to Jeffrey Gundlach, CEO of DoubleLine Capital and the new so-called 'bond king.' (Source: ReutersTV) Click here to read the full article
Diane Furchtgott-Roth: 6 New IRS Questions for 2014
The recent Internal Revenue Service scandal - career officials deliberately delaying applications of certain organizations for tax-exempt status, and the IRS commissioner and acting commissioner are accused of lying to Congress about the matter - suggests that the agency should be smaller, rather than larger. (Source: MarketWatch) Click here to read the full article
Published on May 17, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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