Oil Tallies 4-Week Gain; Street Shifts Focus to Earnings (BAC, MSFT)

Weekly Wrap Up

The focus this week remained on earnings reports from corporations within the US. Among companies that beat expectations were General Electric (GE: Charts, News), who was trading at a 5-year high by Friday, Bank of America (BAC: Charts, News) and Johson & Johnson (JNJ: Charts, News). Earlier in the week Tesla (TSLA: Charts, News) tumbled after being downgraded by a Goldman Sachs analyst.
Both the S&P and Dow reached record highs at the close of the bell on Thursday.

Chaiman Ben Bernanke reassured investors that the Federal Reserve is not on a "preset course" for a taper and will act according to the direction of the economy. For the week oil futures ended higher and have gained nearly 15% in the past four weeks. Gold closed at the highest price in a month and Treasury prices posted weekly gains as well. More Market News

Economic News

G-20 Backs New Tax Rules for Big Firms
For the first time in decades, the world's major powers look ready to introduce new rules to prevent big companies exploiting loopholes to pay little or no tax. (Source: CNN) Click here to read the full article
U.S. Crude Hits 16-Month High; Analysts See Retreat Into Year-End
U.S. oil prices hit their highest level in 16 months this week, with analysts citing unrest in Egypt, strong refinery runs in the U.S. and activity of investors. (Source: Forbes) Click here to read the full article

Business News

Tesla Stock Pummeled on Goldman Downgrade
Shares of Tesla Motors Inc. (TSLA: Charts, News) closed down -18.21 or -16.28 percent to $109.05 on Tuesday after a Goldman Sachs analyst set a price target of $84 per share for the company’s stock. (Source: InvestorGuide) Click here to read the full article
Last Friday, JPMorgan Chase & Co. (JPM: Charts, News), the largest American bank by total assets, reported a surprising 31% year-on-year rise in second quarter earnings that topped analyst estimates. (Source: InvestorGuide) Click here to read the full article
Unilever Expands Further Into India
Unilever (UL: Charts, News), one of the world’s largest consumer products companies, recently expanded its reach further into emerging markets by increasing its stake in India-based Hindustan Unilever from 52.48% to 67.26%. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Verizon Wireless Could Owe Apple $14 Billion
Verizon Wireless (VZ: Charts, News) and Apple (AAPL: Charts, News) shareholders might be soon facing an interesting dilemma. (Source: InvestorGuide) Click here to read the full article
Microsoft Experiences its Biggest Drop of the Century as Shares Fall 12 Percent
Microsoft shares (MSFT: Charts, News) dropped 12.2 percent, representing the biggest single-day drop in over 13 years. (Source: TechCrunch) Click here to read the full article

Your Money

10 Dilemmas Every Startup Founder Must Deal With
Most entrepreneurs struggle with many startup Founders dilemmas in building their business, and these key dilemmas are probably the biggest source of pain and failure for the entrepreneur lifestyle. (Source: Forbes) Click here to read the full article
Is Your Resume 6-Second Worthy?
In a time when recruiters and hiring managers are getting inundated with applicants for job postings, one technique they quickly learn to master is the art of "skimming" resumes. (Source: LinkedIn) Click here to read the full article
Published on Jul 19, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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