Weekly Wrap Up
This week investors focused mostly on comments from the Federal Reserve and global economic indicators that were shared. Word that the US central bank may scale back its QE caused the markets to decline for several sessions in a row. Weak Chinese manufacturing data was released on Thursday and caused volatile trading for the rest of the week. For the week oil prices lost about 2%.
Other reports showed that jobless claims dropped more than expected and orders for durable goods increased more than anticipated in April. HP (HPQ: Charts, News) saw its largest gain in shares since November 2001 on Thursday. Yahoo (YHOO: Charts, News) announced its purchsae of Tumblr earlier and also offered a bid to buy Hulu by the end of the week. More Market News
Economic News
Wall Street was mainly lower for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the Federal Reserve may scale back its support to the economy. Click here to read the full article
U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and stronger business investment. The gains suggest economic growth may be holding steady this spring. (Source: Yahoo!) Click here to read the full article
Business News
Shares of JP Morgan Chase & Co. (JPM: Charts, News) closed up +0.73 or +1.40 percent to $53.02 on Tuesday, after a proposal to split the roles of chief executive and chairman was defeated in a vote by shareholders. (Source: InvestorGuide) Click here to read the full article
Shares of SolarCity (SCTY: Charts, News), which installs solar energy systems to residential and commercial customers, surged more than 20% last week, although the company posted a disappointing net loss for its first quarter. (Source: InvestorGuide) Click here to read the full article
Shares of satellite and wireless networking company ViaSat (VSAT: Charts, News) soared nearly 20% last Friday, after the company reported strong fourth quarter earnings that topped all analyst expectations. (Source: InvestorGuide) Click here to read the full article
Technology Focus
After years of legal wrangling, Apple (AAPL: Charts, News) finally scored a decisive blow against nemesis Samsung last week, after a jury declared that Samsung owes Apple at least $1.049 billion for intellectual property violations. (Source: InvestorGuide) Click here to read the full article
Shares of network equipment maker Aruba Networks (ARUN: Charts, News) plummeted last week, after the company reported disappointing third quarter earnings followed by weak fourth quarter guidance. (Source: InvestorGuide) Click here to read the full article
Your Money
It is now my great pleasure, graduates, to welcome you to the Real World – a world that is quite different from the Real World my own classmates and I first encountered a few decades ago. (Source: LinkedIn) Click here to read the full article
Federal Reserve Chairman Ben Bernanke reiterated this week the message he has been sending for months about interest rates, the economy and the stock market. (Source: MarketWatch) Click here to read the full article
