Investors Waffle on Stocks Unsure of Direction of Next Big Move

An economic reality check kept any chances of a rally on hold during Tuesday's session. A report on consumer confidence shook up investors during morning trading and set the tone for the day. Falling crude prices weighed on energy stocks such as Exxon Mobil and Chevron. Mixed earnings from several big names did little to prevent today's declines. Viacom , Valero , Office Depot , and Hitachi were among the companies reporting quarterly losses. Healthcare stocks cruised along as earnings poured in. So far this quarter, only one S&P healthcare company, Aetna has missed estimates . Bank of America reported that it will close 10% of its branches. These closures may start a trend among other big banks. Looking ahead, the main focus will be on the Commerce Department's report on durable goods orders. Wednesday's session may be flooded with declines if the report doesn't deliver a rosy picture.

Tech M&A Returning to Fashion

It looks like a number of big tech companies are in the mood for selling or buying in some cases. Google wrapped up its 5 percent stake in AOL and stamped a big return to sender on the box today. The investment was just another headache for the company, so it was more than happy to fork it over to Time Warner Inc.. It looks like Google has been questioning the value of its stake in AOL for some time now, so it should come as no surprise that the company decided to unload this burden. However, a $726 million writedown is bound to raise some questions about how Google deploys all the cash it generates.

Sprint Nextel is pulling out all the stops to remain relevant including expanding its presence in the prepaid phone market. The company has decided to purchase Virgin Mobile USA Inc. in a deal valued at $483 million. Some analysts are suggesting that this may prove to be a distraction for Sprint Nextel. The company should probably be focusing more on its postpaid business and figuring out why its subscribers keep disappearing ? Verizon and AT&T are probably somewhere snickering at Sprint Nextel's latest move. Sprint Nextel will gain an additional 5 million subscribers from the acquisition, but good luck keeping them.

IBM snagged SPSS, Inc. in a $1.2B deal . The company is hopeful that this acquisition will help strengthen its information-agenda initiative . Lately, IBM has been snatching up companies left and right .

Jobs, Jobs, Jobs

Don't bad mouth your former employer just yet. Some laid off workers are getting the green light to return to work .

Economists call it the labor market, but for job hunters competing with almost 15 million unemployed workers, it probably feels more like a labor jungle. Remember to plan out a strategy and avoid these common mistakes .

In a land full of Twitter, Facebook, and Myspace, social media skills are becoming crucial for job seekers. If you're not listed on one of these sites, give it shot!

Other Juicy Tidbits

The government's cash for clunkers program is leaving some car buyers empty-handed . Some vehicles that qualified for the credit last week, don't this week thanks to a change in the EPA's fuel economy ratings. This program might fall short as many analysts had previously expected.

The Sad Truth About the Cash-for-Clunkers Program

Here comes some more data on the U.S. economy. The S&P/Case-Shiller home-price index rose 0.5 percent in May from the prior month. Since we had to take the housing data released yesterday with a grain of salt , we should probably scratch the surface a little more with this report.

Video – Has Housing Hit a Bottom?

Even if you believe the "refreshing" housing data, there is no denying that consumer confidence levels have been less than impressive over the last couple of months. Some strategists believe that waning consumer confidence is a warning for stocks .

An Economic Analysis of the Somali Pirate Business Model

A bipartisan group of senators is closing in on a health care compromise that omits key Democratic priorities but seeks to hold down costs. Everyone has an opinion on healthcare reform, but these are 10 of the dumbest arguments against reform .

Video – A "BoTAX" to Pay for Health Care Reform

Video – Michael Vick: More than Money to Consider