AOL Q1 Income Falls 64%; Yellen Has Bright Outlook on Economic Future
Stocks end the day mixed, with Nasdaq being dragged down by "toxic" stocks such as Whole Foods (WFM) and Yahoo (YHOO). Despite a slow first quarter, Janet Yellen believes that economic growth will accelerate throughout the remainder of the year. But she does note that the housing market slowdown may be a point of concern in the future. It seems like cutting jobs is a short-term fix to raise your share price. Lockheed Martin (LMT) and Safeway (SWY) have both eliminated jobs in the past couple of years and these company's stocks are outperforming the market.AOL (AOL) reported that their Q1 income fell 64% from a year ago and their estimated earnings per share missed Wall Street's expectations by 11 cents.
Word on the Street
- Yellen believes the economy will continue to grow in 2014.
- AOL (AOL) reports weak first quarter.
- Does firing employees equal rising stock prices?
- Fast food worker strikes may go global.
- Retailers must learn from Target and improve payment security.
- Will Alibaba's IPO top $1 billion.
- Office Depot (ODP) rises sharply on better than expected first quarter.
Published on May 7, 2014By InvestorGuide Staff