9-6-13 5:09 PM EDT | Email Article
 
 

What Steve Ballmer gives, Steve Ballmer takes away.

 

News that the Microsoft chief would step down within a year triggered a rally in the software giant's shares last month.

 

Then, the stock went into reverse, as Microsoft on Monday inked a deal to snap up the ailing devices unit of Finland's Nokia.

 

True, Microsoft isn't paying a lot -- just $7.2 billion in overseas cash that Microsoft wasn't likely to return to the U.S. anytime soon.

 

But that's another 32,000 employees Microsoft is absorbing, as well a company that has basically lost its way, for a firm that isn't exactly hitting on all its cylinders to begin with.

 

Talk about burning up goodwill -- and market cap.

 

However lackluster the Windows Mobile architecture may be, it's got nothing on the architecture of a London skyscraper, that's been burning up Jaguars, carpets and more.

 

And one can always bring up the tired (but accurate) cliche that the Middle East is on fire.

 

For the week, stocks weren't on fire, but at least a four-week losing streak for the Dow industrials was snapped. The Dow (DJI) rose 0.8%, the S&P 500 (SPX) rose 1.4% and the Nasdaq Composite (RIXF) tallied a 2% advance. Read Market Snapshot.

 

Treasurys fell hard for the week. The 10-year yield touched 3% and gained 17 basis points for the week, which was shortened by Monday's Labor Market holiday.

 

-- Steve Goldstein

 

Microsoft to buy Nokia

 

In 2007, Nokia (NOK) was worth close to $120 billion. On Friday, it was worth a bit more than $20 billion. So, uh, oops. Now the guy that's presided over that descent, Stephen Elop, is considered a contender to run Microsoft (MSFT) . Read some of our analysis and commentary:

 

Microsoft aims to pull off high-stakes hat trick

 

Steve Ballmer gets his $7 billion man

 

Microsoft-Nokia deal is Ballmer's last stand

 

Verizon buying out Vodafone's Verizon Wireless stake

 

You know M&A action is a bit on the dull side when the biggest deal of the year is Verizon buying Verizon. Specifically, Verizon Communications (VZ) is buying the 45% stake in Verizon Wireless held by Vodafone Group (VOD) of Britain for $130 billion of cash and stock. It's only been rumored about for a good decade or so, but this week, the numbers finally worked for both companies.

 

Verizon, Vodafone seal wireless-sale deal.

 

Modest job creation in August

 

In August, the U.S. created 169,000 jobs, according to the latest Labor Department data. That was a bit softer than expectations, and the employment gains of prior months were revised lower. And the labor-force participation rate was the lowest since 1978. But at least part-time work fell.

 

Syrian conflict moves markets

 

President Obama struggled to win allies in Congress and overseas to hit Syria for the alleged use of chemical weapons.

 

Obama-Putin Syria rift deepens

 

Click here for continuing news on Syria

 

Samsung, Qualcomm introduce smartwatches

 

Bring on the smartwatch -- Samsung and Qualcomm each introduced a wearable device.

 

Read story on smartwatches.

 

Read: The wristwatch's time isn't up

 

10 ways to wipe out your retirement savings.

 

Dana Anspach explains the ways your savings can go up in smoke.

 

You're a sucker to believe Wall Street

 

So says Mark Hulbert, who points out that no one on the Street predicted the first Lehman Brothers collapse. Read: You're a sucker to believe Wall Street

 

You're getting a 2.9% raise next year

 

Jonelle Marte explains what you're getting next year and how to make the most of it.

 

How $50,000 could turn into $27 million

 

A bet on a volatility indicator could yield a big payoff, according to The Tell blog.

 

The most embarrassing car accessories

 

Don't embarrass your car -- click on this slideshow.

-MarketWatch; 415-439-6400; AskNewswires@dowjones.com

 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


(END) Dow Jones Newswires

09-06-13 1709ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
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