Stocks end mixed after the chair of the Federal Reserve, Janet Yellen, said that many stocks and assets are currently overvalued. Yellen also told Congress today that the Fed intends to continue to provide support to the U.S. economy since the economic recovery is still not complete. Rumors have been flying that Microsoft (MSFT) will be making a lot of layoffs in the near future, it is even expected that the number of layoffs will top the record 5,800 that occurred in 2009. Disney’s (DIS) CEO Bob Iger was named the 2014 CEO of the Year by Chief Executive Magazine. Iger was awarded this title for adding more depth to the brand, making smart acquisitions like Pixar, and dealing with Disney’s cultural issues.
Word on the Street
- Yellen believes that many assets are overvalued.
- Major layoffs may hit Microsoft (MSFT) soon.
- Gold drops below $1,300; oil falls below $100 a barrel.
- Messaging app Line files for $10 billion IPO.
- LivingSocial hires former eBay (EBAY) exec as new CEO.
- Is Wall Street changing?
- Codexis (CDXS) stock surges on GlaxoSmithKline licensing deal.