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Tech stocks in focus for Friday: Autodesk, Facebook

Friday, May 17th, 2013

Source: USA TODAY

The technology-heavy Nasdaq 100 stock futures index added 0.21% to 3,004.50 on Friday morning.

Among shares in focus, software maker Autodesk (ADSK) fell over 6% in pre-market activity. On Thursday, the firm missed earnings estimates and also lowered its outlook.

Brocade Communications Systems (BRCD) shares fell 2.79% ahead of the market open. The networking-product maker’s quarterly earings rose 19% but revenue was flat against a year earlier.

Shares in Facebook (FB) may be in focus Friday. The social media firm’s IPO took place a year ago and its shares at that time suffered as the broader tech market also struggled. But since, Facebook has made strides in mobile advertising and is in a healthier place financially, analysts say.

Two business-software companies are expected to go public Friday: Marketo, which makes marketing software, and data-visualization company Tableau Software, which recently raised its price range to $28 to $30 per share, from $23 to $26.

Shares in personal computer maker Dell (DELL) declined 0.22% in pre-market action. The company released earnings results Thursday that disappointed investors.

Yahoo (YHOO) may be in talks to acquire social blogging site Tumblr, according to several media reports. citing unnamed sources familiar with the talks. Adweek reported that the price tag may be as high as $1 billion.

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

First Take: Soccer’s perfect CV, David Beckham, to retire

Thursday, May 16th, 2013

Source: USA TODAY

LONDON – They’re dropping like flies these soccer-world stars.

Just last week, Manchester United’s highly decorated manager and homespun talisman Sir Alex Ferguson called it quits after a quarter of a century of 11-man dominance.

Now, David Beckham – perhaps the starriest, most-endorsed, most dapper of them all – is retiring, too.

“if you had told me as a young boy I would have played for and won trophies with my boyhood club Manchester United, proudly captained and played for my country over 100 times and lined up for some of the biggest clubs in the world, I would have told you it was a fantasy,” Beckham said in a statement.

But the truth is the dead-ball genius that the British media (with an Anglo smirk) called “golden balls” has had his up and downs.

He won six Premier Leagues titles and the Champions League with Manchester United, as well as the La Liga title with Real Madrid, of course. There were the triumphs with the Los Angeles Galaxy, and, he added a fourth country to his resume of league titles only yesterday, winning a trophy with Paris Saint-Germain.

Beckham played for his country’s national team 115 times.

Off the field, there were little glories as well. He played a huge role in lobbying to bring the 2012 Olympic Games to London. He was widely praised for his various ambassadorial duties, for the sport, but also outside it, with UNICEF, for example.

When he moved to LA the European soccer establishment rolled its eyes, but he made a success of it, silencing the Doubting Thomases.

The guy is a global brand and quite possibly the richest athlete in British sports, with an estimated fortune of $250 million. Don’t forget the pop star girlfriend (now wife). Brooklyn, Romeo, Cruz and Harper round out a very magazine-cover-looking soccer first-family.

With the highs, there came lows, however.

There was the red card in the 1998 World Cup against bitter on-pitch (and off) enemies Argentina. When Beckham walked off the field that day, the whole nation foamed at the mouth with hatred. It took a while to come back from that. There was also his bitter disappointment at the United Kingdom’s failure to convince FIFA to let it host the 2018 World Cup. (It went to Qatar.)

So now what? Well, he’s probably too soft-spoken for the world of professional punditry, even if that was his thing. And doesn’t come across as a strategy man destined for coaching, although he is involved with a number of academies at the grass-roots level.

He’s 38. I think he’s going to be OK.

Follow Kim Hjelmgaard on Twitter @khjelmgaard

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Wall Street stock futures under pressure

Monday, May 13th, 2013

Source: USA TODAY

Wall Street stock futures were trading lower on Monday morning.

The Dow Jones industrial average stock futures index fell 0.2% to 15, 033, the Standard & Poor’s 500 stock futures index dropped 0.3% to 1,625 and the Nasdaq 100 stock futures index slid 0.3% to 2, 967.

On Friday, the Dow rose 0.2% to 15,118.49. The S&P 500 climbed 0.4% to 1,633.70. The Nasdaq composite index added 0.8% to 3,436.58.

SPECIAL EVENT: Join USA TODAY at a markets/investing event in New York City on May 14 about spotting and avoiding the next great financial crisis.

The U.S. dollar continued to rise against the Japanese yen on Monday, trading above 102. The dollar rose to 101.68 yen from 101.53 yen on Friday.The Nikkei 225 index in Tokyo rose 1.2% to 14,782.21 on Monday.

The Nikkei has soared nearly 43% since the beginning of the year. Global finance leaders from the world’s seven leading industrialized economies said at a meeting over the weekend that Japan’s stimulus policies are aimed at boosting the domestic economy, which has been mired in stagnation since the 1990s, and not manipulating the yen.

Benchmark oil for June delivery was down about 30 cents to $95.75 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 35 cents to $96.04 per barrel in Nymex trading on Friday in New York.

Contributing: The Associated Press

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Stocks rise to close the week at record highs

Friday, May 10th, 2013

Source: USA TODAY

Stocks rose Friday to close out on a high note by posting gains for the third consecutive week.

The Dow Jones industrial average rose 35.87, or 0.2%, to close at a record high of 15,118.49. The Dow closed above 15,000 for the first time on Tuesday and was up 1% for the week.

The broader Standard & Poor’s 500 rose 7.03, or 0.4%, to hit a record high of 1,633.70. The Nasdaq composite index gained 27.41, or 0.8%, to 3,436.58.

The major economic news was the rise of the dollar to more than 100 yen for the second straight day, staying at its highest level since April 2009, and a gain against the euro currency.

Those moves led to a 2.9% jump in Japan’s Nikkei stock average, closing at 14,607, its highest level since January 2008. The weaker yen is a boon to Japan, as it makes Japanese products cheaper overseas and means that foreign currency converts to more yen when companies bring the profits home to Japan.

The price of commodities including crude oil and gold fell as the dollar strengthened. Crude fell 35 cents to $96.04 a barrel in New York, a loss of 0.4%. Gold fell $32 to $1,436 an ounce, or 2.2%.

Nearly all companies in the S&P 500 have reported first quarter earnings. The average net income for companies in the index is expected to rise 5%, according to research firm S&P Capital IQ. But revenue has fallen short in many cases, suggesting that companies are mostly cutting expenses to post higher profits.

Some investors are worried that companies won’t be able to keep cutting and profit growth will slow, but stocks have gone higher anyway.

“The talk at the end of April was company earnings are slowing … and it seemed like we’d have another ‘Sell in May,’ ” said Gary Flam, who manages stock portfolios at Bel Air Investment Advisors. “But clearly that’s not been the case in the first ten days.”

The S&P had risen every day since the beginning of the month until Thursday, when it fell six points. The Nasdaq is at 12-year highs.

Flam speculates that stocks are rising partly because of a shift this year in investor attitudes toward the market.

“The last few years, risk was defined as losing money,” he said. “The last few months, it’s been defined as not making money.”

Priceline.com and chip maker Nvidia both rose 4% after reporting higher earnings.

Dell climbed after activist investor Carl Icahn and another big investor fighting founder Michael Dell’s offer to take the company private launched another broadside against the plan. In a letter to Dell’s board, they proposed a deal that would keep the company public and pay shareholders cash or stock worth $12 a share. Dell rose 13 cents, or 1%, to $13.45.

Contributing: Associated Press

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Stocks mixed after two days of Dow record high close

Thursday, May 9th, 2013

Source: USA TODAY

Benchmark stock indexes were trading flat to slightly lower Thursday, a day after the Dow Jones industrial average closed at a record high for the second straight day.

The Dow was trading about 0.2% higher while the broader Standard & Poor’s 500 index was down 0.02%. The tech-laden Nasdaq composite index was up 0.2%.

On Wall Street Wednesday, the Dow closed above 15,000 for a second day, yet another record finish. The Dow climbed 0.3% to end at 15,105.12. The S&P 500 rose 0.4% to 1,632.69. The Nasdaq composite index gained 0.5% to 3,413.27.

A report in China Thursday, suggesting inflation might be picking up in the world’s second-largest economy, spooked most key stock indexes in Asia and Europe. Hong Kong’s Hang Seng stock index fell 0.1% and Japan’s Nikkei 225 index ended down 0.7% to 14,191.48.

One exception: South Korea’s Kospi index jumped 1.2% to 1,979.45 after the Bank of Korea lowered its benchmark interest rate for the first time in seven months.

In Europe, Britain’s FTSE 100 index was trading 0.1% lower while Germany’s DAX 30 index was down 0.2% and France’s CAC 40 index was trading 0.7% lower.

SPECIAL EVENT: Join USA TODAY at a markets/investing event in New York City next week: Spotting and avoiding the next great financial crisis

Benchmark oil for June delivery was down about 85 cents to $95.75 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1 to finish at $96.62 a barrel on the Nymex on Wednesday, its highest level since April 2.

Contributing: The Associated Press

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Horses and carriages for Queen’s Speech

Wednesday, May 8th, 2013

Source: USA TODAY

LONDON – One of the greatest showpieces in the British political calendar was taking place on Wednesday as Queen Elizabeth II delivered a speech formally marking the State Opening of Parliament.

Although the Queen’s Speech, as it is known, was delivered by the queen in front of members of both the House of Commons and House of Lords, it is written by the government and sets out proposed legislation for the year ahead.

Both Houses then debate the proposals. This process can last for several days.

The State Opening of Parliament occurs when the British Parliament reassembles following a general election and also at the start of each new parliamentary session. It is a highly codified affair rich with ceremonial tradition.

Typically, the Imperial State Crown, the Sword of State and the Cap of Maintenance are transported to London by bus ahead of the queen, who is then driven from Buckingham Palace to Westminster.

The speech itself is given from the grand throne in the House of Lords. Those hearing the speech are summoned to do so by an official known as “Black Rod.”

This year’s speech, which lasted about 10 minutes, was notable for its focus on reforming Britain’s immigration laws and large, social welfare program. The queen said that a stronger British economy was her “first priority.”

She said she wanted to “promote a fairer society that rewards people who work hard.”

Today’s formal opening of parliament was also marked by the attendance of the Prince of Wales for the first time in 17 years, a move that some have interpreted as indicating the queen is starting think about relinquishing some of her duties to her son.

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

First Take: Man U’s Ferguson the Steve Jobs of soccer

Wednesday, May 8th, 2013

Source: USA TODAY

LONDON – If the world of soccer has a Steve Jobs, Manchester United’s Sir Alex Ferguson — who is retiring — is probably the guy.

There are many ways to compare their respective success stories: Jobs, obviously, in his role as boss at Apple helped to launch the personal computer revolution. He gave us the mouse, a landmark smartphone and tablet, the App store — all that. Until his death, even after his death, Steve Jobs was and is Apple; Apple was and is Steve Jobs.

Ferguson, for his part, is also a winner. The most successful manager in British soccer history, in fact. During his 26 years at Manchester United, Ferguson won it all: Thirteen domestic titles, two Champions League victories and a bunch of other silverware besides for a total of 38 trophies.

Like Jobs, Ferguson has a record that will probably never be bettered.

Plus, he achieved it the old-fashioned way by building winning teams brick by brick. When Ferguson took over at Old Trafford in 1986, the club was known to its rivals as a “trophy free zone.” Now, as he prepares to leave, Ferguson is unquestionably one of the greats. For the last quarter of a century, Alex Ferguson was and is Manchester United. After he goes on May 19, Manchester United was and probably still will be Alex Ferguson.

And there’s nothing that Real Madrid’s Jose Mourinho or Everton’s David Moyes or whomever they bring in to replace him can do about that. Isn’t that right, Timothy Cook?

But the comparisons don’t end there. Steve Jobs may have been a technology genius with a head for business, but the word on the street is that he had a habit of yelling at his staff in a way that could make the blood curdle. Ferguson, too, has been an ardent supporter of the school of non-sugar-coated discipline throughout his career.

Mess up on or off the field at Manchester United and Ferguson would dish out his famous “hairdryer” treatment, a very up-close-and-personal shout-fest-cum-lecture peppered with profanities. Or, if you’re especially unlucky, as David Beckham once was, it might come with a soccer cleat kicked in the face.

Take a bow, Fergie. You have done well. There’s not an app for that.

Follow Kim Hjelmgaard on Twitter @khjelmgaard

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Stock futures drift after Dow’s 15,000 milestone

Wednesday, May 8th, 2013

Source: USA TODAY

U.S. stock futures on Wednesday were drifting after the Dow Jones industrial average closed above 15,000 for the first time ever in the prior session.

Ahead of Wednesday’s opening bell, the Dow fell 0.03% to 14,978, the Standard & Poor’s 500 index fell 0.02% to 1,620.30 and the Nasdaq 100 stock futures index rose 0.03% to 2, 947.50.

The Dow on Tuesday rose 0.6% to a record close of 15,056.20. The S&P 500 index rose 0.5% to 1,625.96. The Nasdaq composite index rose 0.1% to 3,396.63.

In Asia on Wednesday, Japan’s Nikkei 225 index rose 0.74% to 14,285.69. Australia’s S&P/ASX 200 gained around 1% to 5,199.80. South Korea’s Kospi advanced marginally to 1,956.45.

The Chinese government reported that growth in imports and exports accelerated in April. Benchmarks in mainland China and Hong Kong advanced.

Benchmark oil for June delivery was up 8 cents to $95.70 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 54 cents to finish at $95.62 per barrel on the Nymex on Tuesday.

Contributing: Associated Press

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Stock futures drift after Dow’s 15,000 milestone

Wednesday, May 8th, 2013

Source: USA TODAY

U.S. stock futures on Wednesday were drifting after the Dow Jones industrial average closed above 15,000 for the first time ever in the prior session.

Ahead of Wednesday’s opening bell, the Dow fell 0.03% to 14,978, the Standard & Poor’s 500 index fell 0.02% to 1,620.30 and the Nasdaq 100 stock futures index rose 0.03% to 2, 947.50.

The Dow on Tuesday rose 0.6% to a record close of 15,056.20. The S&P 500 index rose 0.5% to 1,625.96. The Nasdaq composite index rose 0.1% to 3,396.63.

In Asia on Wednesday, Japan’s Nikkei 225 index rose 0.74% to 14,285.69. Australia’s S&P/ASX 200 gained around 1% to 5,199.80. South Korea’s Kospi advanced marginally to 1,956.45.

The Chinese government reported that growth in imports and exports accelerated in April. Benchmarks in mainland China and Hong Kong advanced.

Benchmark oil for June delivery was up 8 cents to $95.70 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 54 cents to finish at $95.62 per barrel on the Nymex on Tuesday.

Contributing: Associated Press

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

5 things you need to know on Wednesday

Wednesday, May 8th, 2013

Source: USA TODAY

Tim Lambesis, the lead singer of the heavy metal band As I Lay Dying, was arrested in California on Tuesday night over allegations he was looking to hire someone to kill his estranged wife.

Amanda Berry, Gina DeJesus and Michelle Knight have been reunited with their friends and families after being kidnapped and imprisoned for more than a decade. And while Cleveland police say they will deliberately delay “deep questioning” of the three young women, a disturbing tale of sexual assault, physical abuse, bondage and other horrors is already emerging.

The Dow Jones industrial average stock index hit a new milestone on Tuesday when it closed above the 15,000 level for the first time. Now the question is: Where does it go from here?

Toyota Motor, the world’s best-selling auto maker, doubled its profit for the latest quarterly reporting season. Toyota expects the strong results to continue into the fiscal year through March 2014.

If you are bored by soccer look away now: Manchester United’s storied manager Sir Alex Ferguson — the 71-year-old Scot has won 38 trophies during 26 years at United — has retired. “It is the right time,” Ferguson said in an announcement on the Premier League club’s website. It is not an overstatement to say that Ferguson is United’s Steve Jobs.

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.