The Exchange

  • Gasoline prices are falling nationwide this year, but there’s no reason for drivers to get too excited about it just yet.

    The average price for a gallon of gas is expected to go down slightly this summer versus both 2011 and 2012, according to a new report from the U.S. Energy Information Administration (EIA), but will still likely top out at $3.63 per gallon during the big travel months of April through September. That’s down from $3.69 last year and $3.71 in 2011. Back in 2010, which seems like a lifetime ago in terms of fuel prices, drivers were rolling out of gas stations at just $2.76 per gallon.

    Lower crude oil prices are primarily to thank for these (admittedly tiny) new savings, but U.S. gasoline inventories are also now at healthier levels than in recent years and that’s helping to keep prices down, according to EIA. Last year, 98,000 barrels per day were withdrawn from this inventory to keep up with fuel demand, and that figure is expected to be cut in half this summer.

    Of

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  • Infosys (INFY) was making news for the wrong reasons Friday, with a discouraging outlook sending the stock reeling to one of the worst days in its history.

    Recently, shares of the India-based IT consulting and outsourcing company were sinking 20.7% to $43.08 amid volume that was almost seven times heavier than an average day. Only a handful of stocks tracked by Yahoo! Finance data were getting hit harder anywhere in the U.S. market, while on the NYSE, it was the downside leader.

    For Infosys, the selloff came after the company projected revenue growth of 6% to 10% for fiscal 2014. Infosys posted a top line of right under $7.4 billion in the year ended March 31. With that being the case, the forecast would imply sales of $7.84 billion to $8.14 billion for the year ahead. Even at the high end of that range, however, the results would fall short of the analyst consensus carried on FactSet, $8.32 billion, by almost $200 million.

    Revenue in the just-completed fourth quarter was $1.94

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  • By Marek Fuchs

    Earnings are never lock-safe. However, a reasoned observer of Wall Street behavior might guess that the alignment of JPMorgan Chase’s (JPM) first quarter earnings report and their soon-to-be-held shareholder meeting – at which its leader's fate will be sealed – means the bank should find a way, during their Friday earnings release, to jack up shareholder sentiment.

    Credit: Reuters

    The fact that the company is headed in the right direction cannot be framed with doubt or held out as a mere abstraction. JPMorgan will find a way to throw good fortune in shareholders' faces.

    The company will spend Friday on the charm offensive. Facing rebuke or vindication, JPMorgan CEO and chairman Jamie Dimon, once fawned over by presidents and Warren Buffett alike and now hanging by the veritable thread, will see to it.

    That’s why you cannot unhitch Friday’s earnings from the fateful May 21 shareholder meeting. But let’s back-up for a moment.

    Curse of the 'Whale'

    The London Whale Trader, who cost the

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  • Being associated with the personal computing complex was an awfully bad place to be Thursday, as hardware stocks sank following a duo of industry reports that showed a steep decline in the market for desktops and laptops.

    Data from research groups Gartner and IDC, while not lining up exactly on the magnitude of the fall, nonetheless agreed that, in the first quarter of the year, the PC sector was on the skids. That sent shares of computer, chip and software sellers tumbling in response.

    PC Data, 1Q: Source Gartner, IDC According to Gartner, worldwide PC shipments during the first three months of the year sank 11.2% from the comparable period in 2012, reaching only 79.2 million units. That's the first time it's recorded a reading below 80 million for a quarter in almost four years.

    IDC put the number of global shipments at 76.3 million units in the quarter, 13.9% below the previous year, and registering the worst year-over-year showing since the firm began reporting on PCs each quarter in 1994.

    "Consumers are

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(655 Stories)
 
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