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  • Another week on Wall Street and more records shattered as the S&P 500 finally found its way past the 2007 intraday high it hit in October of 2007. While stocks ended Friday on a flat note, both the S&P and the Dow saw their best weekly performances of 2013 so far (as commodities tanked) and, on Thursday, ended at fresh all-time highs. As our senior columnist Michael Santoli points out in Friday's column, "The [S&P 500] is up 11% so far this year, more than the average annual gain through documented history."

    What can throw a wrench into this (arguably) "unloved," low-volume rally?

    Well, much could hinge on earnings results from next week's jam-packed week, in which no less than 74 S&P 500 companies will report. Financials will be a major focus following Friday's reports from JPMorgan (JPM) and Morgan Stanley (MS), which failed to impress investors once they dug below the surface of their analyst beats.

    And of course Monday brings our favorite national holiday: Tax Day in America. We've

    Read More »from Finance Week Ahead: Tax Day in America, a Flood of Earnings and More
  • Believers in the housing recovery might contend they got another bit of evidence to bolster their case Thursday, while believers in a re-expanding home market bubble could claim the same.

    HD Supply Holdings, formerly part of Home Depot (HD), is the latest company with ties to the housing sector that plans to offer stock, according to a filing with SEC. Private equity firms Bain Capital Partners, Carlyle Group and Clayton, Dubilier & Rice, are HD Supply's primary owners. Home Depot has kept a stake of 12.5%.

    For now, the size of the offering isn't set, but the company estimated the amount for the purpose of filing requirements at $1 billion. HD Supply listed sales of $8.04 billion for the fiscal year ended Feb. 3, 2013, with a loss of $1.18 billion. Total long-term debt outstanding on that date was $7.33 billion.

    HD Supply is about construction broadly. It's not entirely a bet on housing, although that is a substantial part of what it does. As HD says in the risk factors section that's

    Read More »from HD Supply, Former Home Depot Unit, Plans IPO
  • 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

    Read More »from Get Ready for Lower Fuel Prices This Summer
  • 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

    Read More »from Infosys Plunges on Weak Revenue Outlook

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