Insider Trading Scandal Hits Wall Street Amid Ireland Bailout Rumors (NFLX, HPQ)

Stocks are able to recover from early losses to start the week mixed, but looming concerns overseas and controversy at home continue to worry investors. It appears Ireland will receive a bailout from the European Union, hammering the bank sector overseas. In domestic issues, an insider trading investigation has become public as the FBI has begun raiding investment firms in potentially the largest scandal ever. US financial sectors were pummeled, as well. In corporate news, shares of Netflix (NFLX) rose sharply after their debut of their online only subscription. Hewlett Packard (HPQ)reported better than expected earnings, beating previous year numbers. Tomorrow, investors look for more information on the insider trading fallout and exact measures taken with Irish debt issues.

Word on the Street

• Stocks bounce back from early losses to end mixed as bank sector hit by impending investigations.
• The largest insider trading scandal may be underway as the FBI has begun searching Level Global Investors LP and Diamondback Capital Management LLC for documents.
• Share of Netflix (NFLX) rose sharply after the release of it’s steaming-only subscription service aimed at higher margins unattainable with mail delivery.
• Spill panel places blame on BP (BP) for moving too slowly, combating with government officials in repairing leakage.
• Oracle (ORCL) asks courts to reward them $1.7 billion in lawsuit against SAP (SAP) AG for copyright infringement.
• Hewlett Packard (HPQ) beat expectations on higher earnings, up 5% from the previous year.
• General Motors (GM) made a splash in their return to the markets last week – but where is this auto titan really headed?

Interesting Tidbits

• Take a look at these 20 inconvenient business truths – you may laugh, you may learn.
• The holiday’s are here, and that means office parties. Check out these tips to help you throw the best one yet.
• Knowing you’re peers can help you successful in your career and in life – take a look at these 47 observations.

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