Stocks Bounce Back; Microsoft Announces Layoffs

Weekly Wrap Up

Stocks end the week up, bouncing back from ending drastically down on Thursday. The factors that drove the stocks down this week were mainly geopolitical events, including the Malaysia Air crash in Ukraine and the continuing violence in Gaza. This week Janet Yellen stated that she believed that many U.S. stocks were overvalued. She did also say however, that the U.S. economic recovery is still not complete yet and the Fed will continue to provide support until the recovery is complete.

Microsoft (MSFT) announced that they would be laying off 18,000 workers, nearly 14% of their workforce.
The majority of the layoffs will be from Nokia. Volkswagon is planning to almost double employment at its Tennessee plant. VW is investing upwards of $600 million into the plant by introducing production of a brand new SUV along with adding 2,000 jobs.

Economic News

Unemployment Rates Fell in 22 US States in June 
Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. But the gains haven't been spread evenly across the country. (Source: Yahoo News) Click here to read the full article

Gauge of US Economy Rises 0.3 Percent in June
A gauge designed to predict the economy's future health increased in June for a fifth consecutive month, supporting the view that economic growth should accelerate in the second half of this year. (Source: Yahoo News) Click here to read the full article

Business News

Shares of Ericsson (ERIC) were trading up +0.92 or +7.87 percent to $12.61 per share in Friday’s pre-market, after the company released its second quarter 2014 earnings. (Source: InvestorGuide) Click here to read the full article

Shares of the SanDisk Corporation (SNDK) dropped -10.13 or -9.39 percent to $97.70 in pre-market trading this morning, after the company announced disappointing earnings despite beating analyst expectations by a small margin. (Source: InvestorGuide) Click here to read the full article

Forbes Media Sold to Asian Investors 
Forbes Media, which publishes business magazine Forbes and its website, said Friday it agreed to sell a majority stake to a group of investors in Asia, ending the Forbes family's 97-year control of the publishing company. (Source: USA Today) Click here to read the full article

Technology Focus

URS Corporation to be Acquired by AECOM Technology 
Shares of the URS Corporation (URS) were up +3.08 or +5.92 to $55.10 per share in pre-market trading Monday morning, after AECOM Technology (ACM) announced on Sunday it would be taking over URS in a deal worth $6 billion. (Source: InvestorGuide) Click here to read the full article

Yahoo's Share of the Search Market Fell Below 10% for the First Time Ever 
The latest data from comScore on the state of search industry isn't good for Yahoo.  Yahoo's share of the U.S. search market is under 10% for the first time ever, says Ben Schachter of Macquarie Research. (Source: Business Insider) Click here to read the full article

Your Money

7 Habits of Highly Successful Retirement Savers 
Some people seem to manage their finances with ease and build up a sizeable nest egg for retirement. Other people struggle with debt and lack of savings their entire lives. (Source: Yahoo Finance) Click here to read the full article

7 Key Investment Principles
You’ve no doubt heard the famous aphorism that “the market can stay irrational longer than you can stay solvent.” (Source: Enterprising Investor) Click here to read the full article

Published on Jul 18, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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