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Crude Oil Continues to Fall; Microsoft Unveils Windows 10

By: , dated January 23rd, 2015

Weekly Wrap Up

U.S. stocks had a 4-day winning streak snapped on Friday, but on the bright side they did post weekly gains. Crude oil continues to fall and fell another 5% on Tuesday to $46.13 a barrel. While falling gas prices is putting more money into consumers pockets, there are many people who are not benefiting from this drastic drop. Baker Hughes (BHI) is the most recent oil company to announce massive layoffs. Baker Hughes will lay off over 7,000 in the coming months, nearly 11% of their workforce.

Microsoft (MSFT) unveiled their newest operating, Windows 10 this week. The update will be coming to PCs and phones later this year and will reflect a similar experience to Windows 7, after Windows 8 was poorly received.

Economic News

Claims for Jobless Benefits Fall, but Less Than Expected
Initial claims for state unemployment benefits slipped 10,000 to a seasonally adjusted 307,000, suggesting continued improvement in the labor market. (Source: New York Times) Click here to read the full article

Davos Elite: We Are Not The Bad Guys
The World Economic Forum, attended by business and political leaders, has the ambitious goal of “improving the state of the world.” (Source: CNN Money) Click here to read the full article

Business News

DreamWorks (DWA) to Shut Down Main Studio, Cuts 500 Jobs
Shares of DreamWorks Animation SKG Inc. (DWA) were trading down -3.07 or -14.41 percent to $18.24 per share in Friday’s premarket, after the company announced after yesterday’s close it would be shutting down its main studio, PDI DreamWorks and lay off 500 workers. (Source: InvestorGuide) Click here to read the full article

Smith & Wesson (SWHC) Rises on Improved Third Quarter Outlook
Shares of Springfield, Massachusetts based Smith & Wesson Holding Corporation (SWHC) rose on Tuesday, against the backdrop of a mildly higher day in stocks overall. (Source: InvestorGuide) Click here to read the full article

Goldcorp (GG) to Buy Probe Mines
Shares of Goldcorp Inc. (GG) were up +0.62 or +2.60 percent to $24.43 per share in premarket trading this morning, after news that the company had made a bid on Probe Mines Ltd., a smaller gold miner. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Box Wraps Up IPO at $14 Per Share to Raise $175 million 
Online storage provider Box has wrapped up its long-delayed IPO at $14 per share, setting up a test of investors’ appetite for a rapidly growing technology company that hasn’t proven it can make money. (Source: Yahoo News) Click here to read the full article

Starbucks is Morphing Into a Tech Company 
It’s official. Starbucks wants you to think of it as a technology company, not a coffee retailer. And it may have just named its future CEO too. (Source: CNN Money) Click here to read the full article

Your Money

Fake IRS Phone Calls Tops List of Tax Scams
If someone calls saying he’s an IRS agent and demands that you send money immediately, hang up. (Source: Yahoo Finance) Click here to read the full article

The 10 Best Checking Accounts of 2015
A checking account isn’t just a checking account anymore — it can do so much more. (Source: Yahoo Finance) Click here to read the full article

This article was brought to you by the InvestorGuide Staff Writers and Editors.

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