After a slow start to the week, the Dow Jones Industrial Average (INDEX; ^DJI) soared, and finished above the 13,000 point mark, the highest finish since early May. Two trends can sum up the past week -- increased investor confidence after the ECB and European political leaders declared full backing of the EU, and an increasingly volatile earnings season. The Dow climbed 3.7% after Mario Draghi, the ECB’s President, made the banks intentions known, promising to increase eurozone banking liquidity.
Source: Yahoo! Finance
Although the broad markets turned in one of the better weeks so far in 2012, a contingent of companies did not have tickets to the rally and, instead, turned significantly lower.
The Class Clowns Source: Yahoo! Finance
Cliffs Natural Resources
The past week was jam packed with excitement coming from the technology sector, as Apple, Google, Baidu, and many more released earnings. However, the two soar thumbs were TripAdvisor
TripAdvisor lost 20% of its market cap this past week, as it, too, suffered from a dismal second quarter. The Expedia spinoff missed analyst estimates on revenue recording $197.1 million, and met earnings per share estimates of $0.41. The travel website company pointed to the weak economy and the credit crisis in Europe as causes for the slow quarter.
Netflix scrambled on Friday to make up some lost ground, after dropping 20% when the streaming entertainment company reported earnings on Tuesday. The company only added 1.1 million subscribers over the last quarter, almost 50% less than the year before quarter. Earnings came in at $6.2 million, or 11 cents per share, 91% less than last year’s quarter, where earnings came in at $68 million, or $1.26 per share.
DeVry
Think long term
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