End of the Week Highlights - Full Week ending September 17, 2010

The main indices posted rock solid gains this full week as tech shares rallied on various satisfactory corporate items.
The S&P 500 climbed 1.5%, posting the benchmark index to a 0.9% increase for the year. 80% of all industries advanced. The tech sector spiked 4.4% thanks to several better-than-expected revenue reports and news of possible share repurchases and dividends. While utility sector dropped 0.9%. Volume was light through Thursday, but spiked on Friday due to quadruple witching.
In earnings news,Best Buy (BBY) stocks was increase by 10% this week after posting a very favorable profit profit outlook at the end of the week. Both Oracle (ORCL) and Research Motion (RIMM) stock shares rose 9.7% and 5.9% respectively after reporting better-than-expected return and issueing strong guidance. FedEx (FDX) however, slipped 2.2% value of its shares for missing target profit.
Companies remain to be active on the M&A front, with Dow components Hewlett-Packard (HPQ) and 3M (MMM) going shopping once again. Hewlett-Packard is scooping up ArcSight (ARST) for $43.50 per stock. Separately, 3M proposed $10.50 per share for Cogent (COGT). On the other hand, Hertz (HTZ) is paying out $50 for every share of Dollar Thrifty (DTG). M&A activity is estimated to continue to be active as firms are flush with money. Firms are also believed to turbocharge their dividend payouts and stock repurchases. During a presentation, cash-rich Cisco (CSCO) hinted at likely giving a dividend. Also, the JPMorgan (JPM) is setting up that dividend payout will probably be restored to 30-40% range. MasterCard (MA) proclaimed the approval of a $1 billion share repurchase plan. Texas Instruments (TXN) declared a share repurchase plan of $7.5 billion, representing a quarter of its market cap.
Over this weekend, the Basel III international bank regulation was released. The latest rules weren't as stringent as some had predict and provided a sufficient amount of time to ease the implementation, giving financial stocks a lift. The new capital requirements need a slight increase of the required common equity to 4.5% from 2.%. The stricter requirements will be phased in over a 9 year time period.
In financial news, August retail sales rose 0.4% in August, which was much better than expectations for a 0.3% increase.
In commodity trading, gold hit a fresh all-time minor high of $1282.50 per ounce.
In overseas news, as the strengthening yen threatens Japan's exporters, the country decided to intercede in the currency exchange market to curtail the yen's stability. The yen fell 1.9% on the week.

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