Deal for Skype Lifts Wall Street

Deal for Skype Lifts Wall Street

By THE ASSOCIATED PRESS 4:17 PM ET

Stocks closed higher Tuesday on Wall Street amid strong corporate earnings and after Microsoft agreed to buy the Internet telephone service Skype for $8.5 billion. Companies have built up a record amount of cash since the recession, and they have begun to use it for acquisitions, dividends and stock buybacks. Technology companies have particularly big cash hoards; Microsoft had $50 billion in cash and short-term investments at the end of March.. The purchase of Skype is Microsoft’s largest deal in its history. Large companies also want to put their cash stockpiles to work because they're getting minimal returns on them, said Oliver Pursche, president of Gary Goldberg Financial Services. Interest rates for short-term savings pay less than 1 percent. “The crisis is behind us,” he said. Companies “don't need this much cash anymore.” …

The Dow Jones industrial average rose 75.68 points, or 0.6 percent, to close at 12,760.36. The Standard & Poor’s 500-stock index rose 10.87 points, or 0.8 percent, to 1,357.16. The Nasdaq composite index climbed 28.64 points, or 1 percent, to 2,871.89. Nearly five shares rose for every one that fell on the New York Stock Exchange. Trading volume was 3.5 billion shares.

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About Ady Simion (Realtor and Public Notary)

Ady Simion was named in the Top 1% of all agents for NRT LLC a subsidiary of Realogy that operates a variety of real estate offices under brands such as Coldwell Banker, Sotheby's International Realty, Century 21, The Corcoran Group, and the technology-based brokerages ZipRealty and Climb Real Estate. NRT has 787 offices and 47,000 sales associates. Selling and buying property can be very stressful but with the right agent it can be profitable and a fun experience. Ady is also a Notary Public and being a people person he wants to help negotiate for his clients making their transactions as smooth as possible. Ady’s goals are simple: He wants to be the best source of information on the Los Angeles area Real Estate market, as he assists clients through each transaction with care and professionalism. He is proud of his large referral base of clients who have placed their trust in him over the years. Why him, when there are so many good people out there?!?! • Sellers will have their property exposed to the largest team of sales professionals in the world by far. Coldwell Banker Agents sale more homes than anyone else. • Buyers will have the opportunity to view more properties exclusively. • And most importantly when you hire him you get a whole team working for you not just “only one person”. Ady Simion started his Professional Career as an Insurance Agent, and then mastered the Mortgage Industry focusing on helping buyers and sellers achieve their life dreams. He now is an Agent with the Largest Residential Real Estate Company in the nation and the world, Coldwell Banker, at the Pasadena office which is the leader in the areas in which he specializes. After finishing College Ady has consistently been a Top Producer in every office/business he worked at. He speaks English, Romanian and Spanish. Real Estate is constantly changing and working with an agent that has been involved in the Real Estate buying/selling process most of his life is always beneficial for clients. Call, text or e-mail him or just stop by to say Hi and ask any real estate questions you may have.

Posted on May 10, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

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