Strong Corporate Earnings Couldn't Counteract European Uncertainty

Weekly Wrap Up

The two-day rally on Wednesday and Thursday was bookended by losses, more than negating any gains seen mid-week. By the end of the week, the Dow Jones and NYSE both lost roughly 245 points, while the Nasdaq dropped 51. The European debt situation remains a prime concern, as the Prime Ministers of both Italy and Greece lost support and heard calls for their resignation.

Technology companies caught investors attention this week, as Groupon (GRPN: Charts, News) had their IPO today, Amazon (AMZN: Charts, News) announced a lending-library program for the Kindle device, and Apple (AAPL: Charts, News) battled battery issues with their iPhones.
More Market News

Economic News

Job market improves modestly as unemployment falls
The American job market improved modestly in October, and economists looking deeper into the numbers found real reasons for optimism -- or at least what counts for optimism in this agonizingly slow economic recovery.

The nation added 80,000 jobs. That was fewer than the 100,000 that economists expected, but it was the 13th consecutive month of job gains. Fears of a new recession that loomed over the economy this summer have all but receded.

The unemployment rate nudged down, to 9 percent from 9.1 in September. (Source: Yahoo Finance) Click here to read the full article

Worried Eyes on Greece Ahead of Confidence Vote
A confidence vote here late Friday will determine the political future of Prime Minister George Papandreou, but it will also reach far beyond. Through its bearing on Greece’s latest debt deal with the European Union, it could be a turning point for the future of the euro zone, with major ramifications for the world economy.

A day after calling off a highly contentious plan for a referendum on Greece’s latest debt deal that had jolted markets and shaken Europe, Mr. Papandreou was under intense pressure from his own Socialist party and the center-right opposition to step aside if his government survived the confidence vote, to pave the way for a unity government or early elections. (Source: New York Times) Click here to read the full article

Business News

Warner Bros. delivers for Time Warner in third quarter
Harry Potter went out with a bang.

Time Warner Inc. (TWX: Charts, News) said Wednesday it had third-quarter profits of $822 million, a 57% increase compared with the same period a year ago, and revenues of $7.07 billion, a jump of 11%.

Much of the gains were driven by the strong box-office performance of "Harry Potter and the Deathly Hallows: Part 2." The last chapter of the long-running Warner Bros. franchise took in $1.3 billion around the world. (Source: Los Angeles Times) Click here to read the full article

Toyota, Honda Fail to Record Auto Sales Gains as Pledged
Toyota Motor Corp. (TM: Charts, News) and Honda Motor Co. (HMC: Charts, News) reported U.S. sales declines for October, when they pledged to record their first increases since April. Their results were offset by gains for Hyundai Motor Co. and Nissan Motor Co., sending the industry to its best sales rate since February.

Toyota said sales slid 7.9 percent to 134,046, while Honda deliveries slipped 0.5 percent to 98,333, according to separate e-mailed statements. Hyundai and its affiliate Kia Motors Corp. combined for a 22 percent increase in sales, while Nissan deliveries rose 18 percent, both beating analysts' estimates. (Source: San Francisco Chronicle) Click here to read the full article

Technology Focus

Groupon Opens Up 40%
Daily deals site Groupon Inc. (GRPN: Charts, News) opened at $28 a share on the Nasdaq, up 40% from its initial public offering price of $20. Shares were recently changing hands at $27.96 a share, up 39.8%.

"This is good. This IPO sends a clear signal to the people at Zynga and Facebook. The signal is that it's time to move forward," said Ben Holmes, president of IPO research firm (Source: Wall Street Journal) Click here to read the full article

Amazon Unveils Kindle Owners' Lending Library
Digital retailer (AMZN: Charts, News) continues to build out its Kindle e-reader platform with the introduction of the Kindle Owners' Lending Library, a service enabling its Amazon Prime members to "borrow" e-books for free, with no due dates.

The Kindle Owners' Lending Library touts thousands of free titles, including more than 100 current and former New York Times bestsellers ranging from Suzanne Collins' The Hunger Games trilogy to Anthony Bourdain's Kitchen Confidential. Amazon Prime subscribers can borrow one e-book each month directly via Kindle device. (Source: Daily Finance) Click here to read the full article

Your Money

Here Are 12 Negotiation Tips For People Who Hate Negotiating
I hate negotiating, mostly because a negotiation often feels confrontational and I tend to shy away from confrontations.

But negotiating is a fact of business life, so are some ways to make your negotiations less painful, more fun - and most importantly more successful. (Source: Business Insider) Click here to read the full article

Be Prepared for What You Don't See Coming
Have you ever worked on a project that produced unexpected results? Unintended consequences are common in business.

For example, sometimes when a senior manager makes a request, it causes a cascade of activity that is far beyond what she intended. The classic story (which may be an urban legend) involves a former Chairman of General Motors who casually commented to a staff member that he didn't like the color of the buildings on campus - and inadvertently triggered an expensive (and totally unnecessary) repainting program. (Source: Harvard Business Review) Click here to read the full article

Published on Nov 4, 2011
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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