Weekly Wrap Up
After experiencing a tough year so far, the stocks ended this week with the best weekly gains of 2014. Export prices rose 0.2% in January, for the third straight month, showing a positive outlook for American manufactures. Due to the harsh winter weather the the country has experienced over the past month and a half, factory production fell 0.8%. This 0.8% decrease is the biggest drop in over four and a half years. It appears that Jos. A. Bank (JOSB) no longer has any intentions to merge with Men’s Warehouse (MW) after announcing their decision to purchase Eddie Bauer for $825 million.
After months of deliberation and competition with Charter Communications (CHTR), Time Warner Cable (TWC) and Comcast (CMCSA) have come to an agreement. Comcast will purchase Time Warner Cable for $45.2 billion, combining two of the nations top cable companies into one. General Motors (GM) was in the news a lot this week. On Monday the company released the salary for its new CEO, Mary Barra. Barra is set to make $14.4 million in 2014, up nearly 60% from what former CEO Dan Akerson made. And then on Thursday they made headlines when recalling 778,000 cars for faulty ignition switches. This recall came after at least 6 people have died in auto accidents due to the faulty switch.
The Fed: Fed’s Fisher Says Taper Should Continue
In an interview on Bloomberg Radio, Dallas Fed President Richard Fisher downplayed recent signs that the economy was losing momentum. The latest sign was a 0.3% drop in industrial production in January, the first drop since July. (Source: Market Watch) Click here to read the full article
U.S. Export Prices Rise for Third Straight Month
U.S. export prices rose in January for the third straight month, potentially positive signs for global economic demand and the outlook for American manufacturers. Prices for U.S. goods and services sold abroad climbed 0.2 percent during the month, the Labor Department said on Friday. (Source: Yahoo News) Click here to read the full article
Time Warner Cable (TWC) to be Acquired by Comcast in 45B Deal
Shares of Time Warner Cable (TWC) were up +20.19 or +14.92 percent to $155.50 per share in pre-market trading early on Thursday, after news that Comcast (CMCSA) would be taking the company over in a deal worth over $45 billion. (Source: InvestorGuide) Click here to read the full article
Weight Watchers (WTW) Stock Pummeled After Earnings
Shares of Weight Watchers International Inc. (WTW) were trading down -5.83 or -19.06 percent to $24.75 per share in pre-market trading on Friday, after the company reported earnings following the market close on Thursday. (Source: InvestorGuide) Click here to read the full article
Athenahealth (ATHN) Stock Soars on Earnings
Shares of Athenahealth Inc. (ATHN) closed up +34.85 or +25.06 percent to $173.93 per share on Friday, after the company announced better than expected fourth quarter earnings. The company also announced that its customer base of physicians had increased +28 percent in the quarter. (Source: InvestorGuide) Click here to read the full article
Sprint (S) Up on Improved 4th Quarter Results
Shares of Overland Park, Kansas, based Sprint Corporation (S) closed higher on Tuesday, up 21 cents per share, or 2.73%, to close at $7.90, on volume of 44,210,253 shares. The company reported that its fourth-quarter net loss was lower than what had been forecast by advanced estimates. (Source: InvestorGuide) Click here to read the full article
Rackspace Hosting (RAX) Stock Declines After Earnings, CEO Retires
Shares of Rackspace Hosting Inc. (RAX) were off -4.56 or -11.30 percent in pre-market trading on Tuesday after the company announced fourth quarter earnings after the close on Monday. Rackspace stock closed at $40.36, up +0.85 or +2.15 percent in Monday’s regular trading session. (Source: InvestorGuide) Click here to read the full article
IRS Already Cut $64.5 Billion in Refund Checks
Millions of taxpayers already received big refund checks, as this year’s tax filing season seems to be humming along without a hitch. (Source: Market Watch) Click here to read the full article
Tax Hacks 2014: Would You Cheat on Your Taxes?
Imagine living in a nation with no taxes. That sounds like a utopia or a dream. But what we do know is that the Internal Revenue Service, or what I like to call Uncle Sam’s headquarters, does not always collect what it’s owed for a number of reasons. (Source: Money Talks News) Click here to read the full article