Street Logs 3rd Negative Week in 4; Stimulus Worries Continue

Weekly Wrap Up


Although the S&P 500 saw its best day since January 2 on Thursday, the major US indices slid lower for the week and it was the third weekly loss in the past four. Investors remain focused on the Fed's plans to continue the record-low interest rates and the IMF suggested on Friday that its current policy should extend at least until the end of 2013.

Gannett (GCI: Charts, News) announced its plan to buy Belo Corp. for $2.2 billion.
Lululemon (LULU: Charts, News) plunged 17% earlier in the week. It was reported that consumer sentiment dropped in June while jobless claims decreased from the week before. Industrial production fell flat in May. More Market News

Economic News

Disappointing Reports Push Down US Stocks
Disappointing reports about the U.S. economy led the stock market lower on Friday. Confidence in the economy has fallen in June, coming in lower than economists had estimated, according to the Thomson Reuters/University of Michigan survey. Another report said factories weren't as busy as expected. (Source: Yahoo!) Click here to read the full article
IMF Says Sequester Hurting US Economy, Delaying Recovery
As much as half of U.S. economic growth this year has been slashed due to tax increases and indiscriminate federal spending cuts known as sequestration, according to a sobering new forecast by the International Monetary Fund, which urged lawmakers to repeal the cuts. (Source: Huffington Post) Click here to read the full article

Business News

Quiksilver Surfs Straight Into a Tsunami
Shares of surf and sun apparel retailer Quiksilver (ZQK: Charts, News) plunged over 10% last Friday, after the company reported poor second quarter earnings that spooked investors. (Source: InvestorGuide) Click here to read the full article
J.M. Smucker Reports Strong Fourth Quarter Earnings
J.M. Smucker (SJM: Charts, News) recently rallied on strong earnings last week. The maker of Smucker’s jam, Jif peanut butter and Folgers coffee posted fourth quarter earnings of $1.22 per share, or $130.3 million. (Source: InvestorGuide) Click here to read the full article
Hormel Foods Reports Mixed Earnings
Shares of Hormel Foods Corporation (HRL: Charts, News), stumbled recently after the food company reported mixed second quarter earnings. (Source: InvestorGuide) Click here to read the full article

Technology Focus

PS 4 Lower Price and Game Resales Fuel Jump in GameStop Stock
Shares of GameStop Corp. (GME: Charts, News) closed up +2.73 or +7.80 percent to $37.72 on Tuesday after an announcement from Sony Corporation (SNE: Charts, News) stating that it would allow unlimited sales on used games for their upcoming PlayStation 4 gaming console. (Source: InvestorGuide) Click here to read the full article
Is TiVo the Next Eastman Kodak?
TiVo (TIVO: Charts, News) shareholders were recently devastated, after a long-running patent infringement lawsuit against Google (GOOG: Charts, News), Cisco (CSCO: Charts, News) and Time Warner (TWX) ended with a very disappointing settlement. (Source: InvestorGuide) Click here to read the full article

Your Money

Three Things I've Learned From Warren Buffett
I’m looking forward to sharing posts from time to time about things I’ve learned in my career at Microsoft and the Gates Foundation. (I also post frequently on my blog.) (Source: LinkedIn) Click here to read the full article
College Degree Rate Rises, But At Pace Well Short Of Needs
The percentage of working-age U.S. adults who hold a college degree has increased incrementally during the last few years but at a pace well short of what is needed to meet future workforce needs, a report released on Thursday said. (Source: Reuters) Click here to read the full article
 
Published on Jun 14, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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