1. Fed chairman Ben Bernanke and the FOMC moved markets once again this week following the release of minutes from the committee's June meeting. The FOMC said that many on FOMC said labor gains needed before QE taper. Several saw tapering likely warranted soon. Bernanke also spoke at the National Bureau of Economic Research on Wednesday, click here for the speech.

2. UPS (NYSE: UPS) fell today after announcing that second quarter diluted earnings per share are expected to be $1.13 and it now expects that FY13 EPS will be $4.65 to $4.85. The Street is currently at Q2 EPS of $1.20 and FY13 EPS of $4.98. For the quarter, UPS cited, overcapacity in the global air freight market, increasing customer preference for lower-yielding shipping solutions, and a slowing U.S. industrial economy.

3. Second-quarter 2013 earnings season is off to a mixed start with Alcoa (NYSE: AA), JPMorgan (NYSE: JPM), and Wells Fargo (NYSE: WFC) all reporting this week.

• Alcoa beat EPS views by 1 cent and also topped on revs;
  
  
• JPMorgan trumped EPS expectations by 14 cents, also with strong revs; and
  
  
• Wells Fargo & Co. (NYSE: WFC) reported Q2 EPS of $0.98 and revs of $21.4 billion, versus consensus views calling for EPS of $0.93 and revs of $21.2 billion. For more color, click here.

4. As expected, Microsoft (Nasdaq: MSFT) announced a slew of management changes and adjustment to its reporting structure. Given the challenges faced in the PC and mobile markets by the software giant, a fresh take on things might be just what the doctor ordered. For more on the move, click here.

5. Dell (Nasdaq: DELL) rose Friday as activist investor Carl Icahn revised his bid for the company. The new bid is said to be worth $15 to $18 per share for Dell shareholders. No doubt, Dell's special committee will be taking a detailed look at this offer, as well.

6. Speaking of parcel shippers, FedEx (NYSE: FDX) saw wild action on Tuesday following speculation that it might be a takeover target for Pershing Square's Bill Ackman. The chatter heated up when traders caught wind of a new investment vehicle Ackman is looking to start, saying the investment he's eying "is simple, predictable, and free-cash-flow-generative, and enjoys high barriers to entry, high customer switching costs, and substantial pricing power."

7. Boeing (NYSE: BA) was slammed on Friday following reports that a fire broke out on an Ethiopian Airlines 787 Dreamliner while parked at Heathrow Airport. Heathrow and Ethiopian Air confirmed that no one was on board the 787 as it was being sprayed down.

8. The International Monetary Fund (IMF) trimmed its outlook for global growth in 2013 by 0.2 points to 3.1 percent. Growth in the United States is projected to rise from 1 percent percent in 2013 to 2 percent percent in 2014. The projections assume that the sequester will remain in place until 2014, longer than previously projected, although the pace of fiscal consolidation will still slow. Private demand should remain solid, given rising household wealth owing to the housing recovery and still supportive financial conditions.

9. Alexion Pharmaceuticals, Inc. (ALXN) pumped higher Friday on speculation that Roche (OTCBB: RHHBY) might be seeking financing to make an acquisition of the company. Chatter added billions to Alexion's already stout $20 billion market cap. Alexion was halted at least twice for volatility on the news.

10. On Tuesday, Kroger (NYSE: KR) and Harris Teeter Supermarkets, Inc. (NYSE: HTSI) announced entering a definitive merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash. Total value of the deal is about $2.5 billion.