|Posts on Regator:||1220|
|Posts / Week:||10.4|
|Archived Since:||February 24, 2011|
Chevron saw its first quarter production and refining activities decline slightly, while it gained authorization to drill and produce in Brazil's coveted pre-salt fields a few years after an oil spill in the region.
The disappointing March jobs report spooked many, yet risk assets have rallied in the face of continued easing by Bernanke's Federal Reserve. The jobs report may have overstated weakness in labor markets, but the sequester will begin to hurt in the second quarter.
Germany is suffering the consequences of austerity in Europe, seeing its exports to Eurozone partners drop dramatically, but the largest European economy also suffered from weak domestic demand, as imports fell hard.
Alcoa delivered a profit beat, kicking off the earnings season on strong demand from the aerospace and auto sectors.
Gold prices rose last week after the Bank of Japan announced a massive program of quantitative easing and the U.S. economy added a paltry 88,000 jobs in March, fueling expectations of continued QE in the U.S. The European crisis fed the bulls as well.
Fisker Automotive reportedly laid off pretty much its entire rank-and-file workforce, adding to its woes after co-founder Henrik Fisker decided to leave the company citing differences with management. Major Chinese names like Geely, thought to be pursuing the company, have dropped their bids.
While markets seem to have forgotten about Italy, a political crisis is brewing that has the potential to be many times more damaging than bankrupt Cyprus to global markets, as gridlock could force new elections and continued ungvoernability in the Eurozone's third largest economy.
U.S. automakers are having their best monthly sales numbers since before the financial crisis, with General Motors, Chrysler, and Ford delivering their strongest March sales since 2007
Carl Icahn is at it again, on Monday revealing a 9.3% passive stake in Nuance, a voice-recognition technology company widely believed to be behind Apple's Siri.
Hess announced on Monday it is selling its interest in Samara-Nafta, a Russian subsidiary, to Lukoil for nearly $2 billion. Hess' Russian subsidiary was connected to a Russian mob organization last year, as the company pushes with sales ahead of its fight with hedge fund titan Paul Singer.
BlackBerry's surprise came on the back of cost cutting and solid Z10 deliveries.
Stocks are on a roll, with the S&P 500 topping its all-time closing high during trading on Thursday, while the BLS released its latest GDP estimate for the fourth quarter, showing the economy grew 0.4% to end 2012.
As gold prices have continued to fall, global central banks have continued to buy, according to UBS, which said central banks bought 54 metric tons this year, or more than 1.9 million ounces, which is more than $3 trillion at today's prices.
Hedge fund billionaire Steve Cohen has been a staple of the art world since 2000, buying up major pieces in the triple digit millions every couple of years. On Tuesday, the hedge fund manager bought a Picasso for nearly $160 million from billionaire Steve Wynn.
The Case-Shiller home price indexes showed the market is firing on all cylinders, with prices rising the most since before the crisis began on the back of Fed support.
Ahead of its fourth quarter earnings report on Thursday, BlackBerry has disappointed analysts in the first couple of days since launching its new Z10 in the U.S. While it is too early to draw conclusions, it was enough to spark a few downgrades of the stock and send it down on Monday.
The Eurozone has chosen Cyprus as its sacrificial lamb, using the island-nation as their attempt to minimize moral hazard in their attempts to end a sovereign debt crisis. If their experiment doesn't work out, and Cyprus implodes, it could become Europe's Lehman Brothers.
TIffany's posted a good fourth quarter on Friday, showing that solid Asian demand is still helping the company grow, while U.S. appetite for luxury and jewelry appears to be on a downfall, as same store sales fell.
Shares in Nike surged on Thursday after the company posted solid third quarter earnings after the bell, revealing expanding margins and rising profits despite weakness in China.
In his post-FOMC press conference, Fed Chairman Ben Bernanke told reporters he's unsatisfied with the rate of jobs growth, but that the Fed doesn't have the tools to accelerate that, admitting a relative of his is unemployed and the house in which he grew up has been foreclosed.