Business News

Business News

Stocks had their biggest one day gain in 2 months on Friday thanks to a stronger-than-expected jobs report that delivered a dose of investor confidence.  Friday's big gain put a dent in the weekly loss but the major indexes ended the week lower marking the 2nd straight of declines for stocks.

Hewlett-Packard announced yesterday that they plan to break into two companies, separating their personal computer and printer business from their corporate hardware and services operations.  The distribution of the separate company's shares will be tax-free and happen early next year.  The move by HP is one that has long been anticipated by investors.  Shares of HP are trading sharply higher on the news.

Medical technology company Becton Dickinson has reached a deal to buy CareFusion for $12.2 Billion in cash and stock.  Subject to shareholder and regulatory approval the deal is expected to close early next year.  Shares of both companies are higher, shares of CareFusion are up over 25%.

In another sign of an improving economy here in Central Oregon the Gross Domestic Product for Deschutes country increased 6.1% in 2013 which is the largest increase among Oregon's 8 metropolitan statistical areas.

And the former chairman of the Federal Reserve, Ben Bernanke, is having trouble refinancing his mortgage.  In an effort to save $300/month on his D.C. home, Bernanke tried to refi at a lower interest rate, but the underwriters say his income over the last 12 months was too low to qualify for a new loan even though he is now making $250k per speaking engagement and has a $1mm+ book deal.

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