March 25, 2013
(This is Mark Vickery substituting for Sheraz Mian this
morning and all this week.)
Far from a certainty up to the 11th hour, Cyprus finally decided
to bail out its failing banking system to the tune of 10 billion
euros, or roughly $13 billion. The small Eurozone island country
has thus escaped bankruptcy, which would have made it the first
nation to abandon the euro as its currency.
The bailout is already being received quite well in Europe and
Asia, where most market indexes are up today. U.S. futures are
also solidly green in pre-trading this morning, with the S&P
500 ticking back up toward 1560.
This is the final week of Q1, as well as a holiday-shortened week
with Friday as a holiday. Earnings season will begin to pick up
in a couple weeks, but until then, market catalysts will mostly
be relegated to news coming from abroad, such as today's Cyprus
That said, shares of major for-profit educator
) are up over 9% in the pre-market after a quarterly earnings
beat, although enrollment at its University of Phoenix is down.
Chinese solar panel manufacturer
) is down roughly 1% on its quarterly earnings miss this morning,
with revenues now having fallen for the past six quarters.
Finally, speculation continues about
) going private -- will
) offer more than $13.65 per share and bring former H-P chief
Mark Hurd on board? Will Carl Icahn entice with a $15 per share
bid? We'll stay tuned, assuming anyone can talk about anything
besides Cyprus today.
APOLLO GROUP (APOL): Free Stock Analysis
BLACKSTONE GRP (BX): Free Stock Analysis
DELL INC (DELL): Free Stock Analysis Report
JA SOLAR HOLDGS (JASO): Free Stock Analysis
To read this article on Zacks.com click here.
Want the latest recommendations from Zacks
Investment Research? Today, you can download 7 Best Stocks for
the Next 30 Days. Click to get this free report