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Weekly Market Wrap: October 18, 2013
Friday, October 18, 7:02 PM ET

This forty-second trading week of 2013 comes to a close with the government shutdown and debt ceiling debate behind us, and the markets higher on speculation that the Fed won't be tapering in 2013.

Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for October 18, 2013.

The Dow Jones Industrial Average, S&P 500 and Nasdaq are all higher for the week.

Crude oil futures are lower this week, trading around $100.74 per barrel on Friday afternoon.

And Gold futures are substantially higher this week, trading around $1,315 an ounce in Friday afternoon trading.

Economic news was light this week due to the government shutdown. China's third quarter GDP growth was up 7.8%, providing optimism, and helping to boost oil prices, and weaken the US Dollar on Friday.

In corporate news, Iron Mountain (NYSE:IRM) has acquired Cornerstone Records Management, growing its core information storage business by adding complementary small and mid-sized organizations to its customer base. The storage and information management firm purchased Cornerstone for approximately $191 million in cash, subject to certain purchase price adjustments.

GE (NYSE:GE) posted third-quarter 2013 earnings of $0.36 per share, down 3% and flat respectively from the third quarter of 2012, beating analyst expectations. According to GE Chairman and CEO Jeff Immelt, "Orders grew 19% with orders growth around the world. Total segment profit grew 12%, Industrial margins grew 120 basis points in the quarter, and we are on track for planned margin expansion of 70 basis points for the year. GE Capital continues to perform well, and we finished the quarter with a Tier 1 common ratio of 11.3%, up 116 basis points."

Google (NASDAQ:GOOG) posted revenues of $14.89 billion for the quarter ended September 30, 2013, an increase of 12% compared to the third quarter of 2012. Non-GAAP EPS in the third quarter of 2013 was $10.74, compared to $8.87 in the third quarter of 2012.

IBM (NYSE:IBM) posted operating diluted earnings of $3.99 per share, beating analyst expectations. Total revenues, however came in at $23.7 billion, down 4 percent from the third-quarter of 2012, and missing expectations.

Bank of America (NYSE:BAC) reported that net income rose to $2.5 billion in the third quarter from $340 million in the year-ago quarter. Earnings per diluted share increased to $0.20 from $0.00 in the third quarter of 2012. Revenue dropped to $22.19 billion from $22.3 billion.

Abbott (NYSE:ABT) posted third quarter ongoing EPS of $0.55 and announced a 57 Percent Increase in their quarterly commone dividend. Additionally the company confirmed their full-Year 2013 ongoing EPS guidance range. In early morning trading the stock is up about 1.5%.

PepsiCo (NYSE:PEP) reported core earnings per share of $1.24 for the third quarter and organic revenue growth of 3.3 percent for the quarter. Organic revenue grew 3.9 percent year to date and core constant currency EPS increased 12 percent year to date. Reported net revenue grew 2 percent year to date. Snacks volume rose 3 percent while beverage volume declined 1 percent.

This is the 'Weekly Market Wrap' for Friday October 18, 2013. Please join us on Monday for the Week Ahead Market Report.

For MarketNewsVideo.com, I'm Sayoko Murase.

Weekly Market Wrap: October 18, 2013 picture
Friday 9/12 Insider Buying Report: TDG, BRXFriday 9/12 Insider Buying Report: TDG, BRX
Related symbols: TDG,BRX
Thursday 9/11 Insider Buying Report: ADT, IFTThursday 9/11 Insider Buying Report: ADT, IFT
Related symbols: ADT,IFT
Thursday 9/11 Insider Buying Report: SCCO, TERPThursday 9/11 Insider Buying Report: SCCO, TERP
Related symbols: SCCO,TERP
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S&P 500 Movers: HCN, ADSS&P 500 Movers: HCN, ADS
Related symbols: HCN,ADS
Nasdaq 100 Movers: VRTX, YHOONasdaq 100 Movers: VRTX, YHOO
Related symbols: VRTX,YHOO
Dow Movers: CAT, GSDow Movers: CAT, GS
Related symbols: CAT,GS
S&P 500 Analyst Moves: SBUXS&P 500 Analyst Moves: SBUX
Related symbols: SBUX
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Dow Analyst Moves: MCDDow Analyst Moves: MCD
Related symbols: MCD
S&P 500 Analyst Moves: PLDS&P 500 Analyst Moves: PLD
Related symbols: PLD
Friday Sector Leaders: Metals Fabrication & Products, Sporting Goods & ActivitiesFriday Sector Leaders: Metals Fabrication & Products, Sporting Goods & Activities
Related symbols: NOR,PGTI,SNOW,MTN
Friday Sector Laggards: Music & Electronics Stores, REITsFriday Sector Laggards: Music & Electronics Stores, REITs
Related symbols: RSH,VOXX,HCN,IRET
Thursday Sector Leaders: Music & Electronics Stores, Apparel StoresThursday Sector Leaders: Music & Electronics Stores, Apparel Stores
Related symbols: RSH,CONN,LULU,WTSL
Friday's ETF with Unusual Volume: USMVFriday's ETF with Unusual Volume: USMV
Related symbols: USMV,EBAY,YHOO,HCN
Friday's ETF Movers: KRE, GDXJFriday's ETF Movers: KRE, GDXJ
Related symbols: TBBK,WIBC,PRU.CA,SBB.CA,GDXJ,KRE
JDST, IEUS: Big ETF OutflowsJDST, IEUS: Big ETF Outflows
Related symbols: JDST,IEUS
Daily Dividend Report: INTC, ABT, TJX, BXP, RL, SLG, HUN, CBI, DRI, OCRDaily Dividend Report: INTC, ABT, TJX, BXP, RL, SLG, HUN, CBI, DRI, OCR
Related symbols: INTC,ABT,TJX,BXP,RL,SLG,HUN,CBI,DRI,OCR
Daily Dividend Report: AMT, YUM, BRC, CL, TYC, NUEDaily Dividend Report: AMT, YUM, BRC, CL, TYC, NUE
Related symbols: AMT,YUM,BRC,CL,TYC,NUE
Daily Dividend Report: PM, IP, RCL, NJR, FLXS, DHR, TGT, DVN, O, SPLS, DDR, MWDaily Dividend Report: PM, IP, RCL, NJR, FLXS, DHR, TGT, DVN, O, SPLS, DDR, MW
Related symbols: PM,IP,RCL,NJR,FLXS,DHR,TGT,DVN,O,SPLS,DDR,MW
Fed Tapers Bond BuyingFed Tapers Bond Buying
Nonfarm payroll Employment Up 175,000 in FebruaryNonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
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Related symbols: S,BAC,EBAY,AAPL,YHOO,CL,TYC,PM,IP,AMAT
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Week Ahead Market Report: September 2, 2014Week Ahead Market Report: September 2, 2014
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Symbol Cloud:   AAPL   ABT   ACWI   ADS   AEC   AIRR   AMAT   AVP   AXP   BAC   BVN   CAT   CL   CONN   CVX   CYH   DD   DIS   DOW   DRI   EBAY   EOG   FDO   GDX   GDXJ   GG   GILD   GNR   GPRE   GRMN   GRO   GS   HBAN   HCN   HES   HOLX   HTM   IEUS   IFT   ILF   IP   IRM   IWL   KERX   KR   MGAM   MSFT   MT   NPSP   NRG   NUE   NX   OMG   PB   PLD   PM   PPP   PRU.CA   PVH   RCPT   RH   RSH   RXL   S   SBB.CA   SCCO   SCOK   SH   SLG   SLVP   SPLS   TERP   THC   THM   TJX   TLT   TYC   VALE   VOXX   VRTX   WBAI   WMT   XBI   XLU   XME   XOM   YGE   YHOO   ZQK
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Weekly Market Wrap: October 18, 2013 | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.