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tdp2664 InvestorPlace Despite numerous engrossing corporate stories filling the news, U.S. markets this week were little more than a mood-o-meter of the constantly fluctuating European debt crisis, with the focus shifting from Greece to Italy the past few days. With every big headline came a subsequent big move. For instance: Tuesday afternoon: Italian Prime Minister Silvio Berlusconi announces he will resign pending the approval of a budget law, including austerity measures. The Dow Jones gained about 150 points in the afternoon and ends the day up about 100. Wednesday morning: Berlusconi insists on elections rather than an interim government in his stead. This was seen by many as threatening economic reform, and Italian bonds surged past the critical 7% mark . The Dow dropped almost 200 points after the opening bells. Wednesday afternoon: The European Union announces it doesn't have plans for an Italian bailout. The Dow drops another 200 points. A notable victim of the day was General Motors (NYSE: GM ), which saw its stock drop 11% by day's end despite a solid earnings report . Thursday and Friday played out similarly, with positive news from Italy and progress on its economic reform package sending the Dow back up about 100 and 250 points on the respective days. Throughout the chaos, at least a few companies were able to make or break their own fates based on the actual realities of their own business. Earnings Winners and Losers A couple of the biggest-name winners this week were Disney (NYSE: DIS ) and Cisco (NASDAQ: CSCO ). After the bell Wednesday, Cisco announced earnings of 43 cents per share , which beat out analyst estimates of 39 cents per share. It did slip year-over-year in total profit ($2.4 billion to $2.3 billion), but a 5% sales boost pleased investors, as did increased guidance. Cisco's second-quarter forecast increased to EPS of 42 to 44 cents, with analysts estimating 42 cents. In two trading days since then, CSCO shares have gained about 8% to finish the week at $19.02. Multi-industry giant Disney followed up Cisco's act with its own good news after the bell Thursday, announcing a 30% increase in profit for its fourth quarter . Disney reported EPS of 59 cents, beating out Wall Street expectations of 55 cents, much of its success coming on the strength of its TV operations, as well as its parks and resorts. DIS stock ended Friday up about 6% at $36.70. Green Mountain Coffee Roasters (NASDAQ: GMCR ) was the biggest earnings flop of the week despite not flopping much on its quarterly report. GMCR's earnings per share of 47 cents for the fourth quarter missed expectations by just a penny, but an investor community already negative on the stock — led by hedge fund manager David Einhorn's short-selling crusade — sent the stock down 40% Thursday. As of the close of Friday's trading, Green Mountain shares — at $43.68 — have lost almost 60% of their value in three months. Gold Somehow left in the background amid Europe's troubles was gold, once itself a center of attention. After reaching then falling from a peak above $1,900 in September, gold has been regaining territory and nearing the $1,800 mark. Economic crises throughout Europe have been good for the yellow metal, as well as associated funds. The SPDR Gold Shares (NYSE: GLD ) ETF gained about 2% this week and has been on a steady rise since mid-October, up almost 9% in that period. The Market Vectors Gold Miners ETF (NYSE: GDX ) is up almost the same amount in the past month, and the Market Vectors Junior Gold Miners ETF (NYSE: GDXJ ) is up about 5%. Three Up Friday Royal Bank of Scotland (NYSE: RBS ): Up 6.3% (43 cents) to $7.25. Staples (NASDAQ: SPLS ): Up 6.12% (89 cents) to $15.43. Research In Motion (NASDAQ: RIMM ): Up 5.18% (91 cents) to $18.49 Three Down Friday HollyFrontier Corp. (NYSE: HFC ): Down 4.37% ($1.30) to $28.47. Valero (NYSE: VLO ): Down 3.28% (84 cents) to $24.77. ConAgra Foods (NYSE: CAG ): Down 2.21% (56 cents) to $24.77. As of this writing, Kyle Woodley did not own a position in any of the aforementioned stocks. Check out our list of previous IP Market Recaps .
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