Week of Mar 27 2015 Weekly Recap & The Week Ahead
“Only when the tide goes out do you discover who’s been swimming naked” – Warren Buffett
1. Ebay Plans Spin-off — eBay is planning to spin-off its PayPal division later this year. Dan Schulman, who joined the company from American Express, will be CEO of PayPal, while Devin Wenig, who is now president of the Marketplaces division, will become CEO of eBay (NASDAQ:EBAY).
2. Consumer Price Index (CPI) Barely Increase — the CPI rose in Feb for the 1st time since Oct. 2014. The Index ex-food and energy rose 0.2% vs. Jan., and was 1.7% higher for the year. The increase in CPI is moving in the right direction from the Fed’s perspective.
3. Greece Vows New Reforms — Athens will give its Eurozone credits a new proposal by Monday (3/30/15), hoping to unlock bailout aid. Greek PM Tsipras’s new lefttist gov’t will run out ot cash in Weeks unless he satisfies official creditors.
4. Saudi Arabia Launches Military Operations in Yemen — MarketWatch, Saudi Arabia and other Gulf nations launched airstrikes against Houthi rebels in the Yemeni capital San’a. The airstrikes began hours after the country’s president, Abed Rabbo Mansour Hadi, was forced to flee the southern port city of Aden by boat after Iranian-backed Houthi militants closed in. The crisis now risks spiraling into a proxy war with Shiite Iran backing the Houthis, and Saudi Arabia and other regional Sunni monarchies supporting Yemeni President Abd-Rabbu Mansour Hadi. Importers worry the Saudi attack will disrupt oil supplies.
5. GDP Stays at 2.2% As Corporate Profits Fall for First Time Since 2008 — MarketWatch, the economy slowed in the final three months of last year from a blistering 5% pace in the third quarter because businesses trimmed investment, government outlays fell and the nation’s trade balance deteriorated. Consumer spending was raised to 4.4% in the fourth quarter from 4.2%, marking the largest increase since 2006.
The week ahead — Economic data from Econoday.com:
Tags: Ebay Split