How long can the S&P 500 keep 2,000?
How long can the S&P keep 2,000?

The Federal Reserve and Congressional politics threaten to rain on the market party.


The energy giant is looking to sell its 50% stake in Russia's No. 3 oil company.

By Benzinga Jul 27, 2012 5:34PM
Image: Oil drums (© Kevin Phillips/Digital Vision/age fotostock)By Gordon Wilcox, Benzinga Staff Writer

A big deal could be brewing in the energy sector and it probably will not involve any of the U.S. oil majors. BP (BP) is looking to part with its 50% interest in TNK-BP, the British oil giant's highly lucrative but highly problematic joint venture with Russian oligarchs.

Estimates for the value of BP's stake ranges from $20 billion to $30 billion. Even at the low end of that range, BP would exit the venture with quite a windfall. BP paid $7 billion to acquire the interest in TNK-BP, Russia's third-largest oil company, in 2003. Since then, BP has reaped $19 billion in dividends alone, Reuters reported.


In its first earnings report as a public company, the social networking giant announced another sharp decline in the rate of revenue growth.

By The Fiscal Times Jul 27, 2012 4:01PM
Image: Couple with laptop (© Daly and Newton/OJO Images/Getty Images)By Suzanne McGeeThe Fiscal Times

It sure looks like Facebook (FB) chose exactly the right point in its corporate evolution to go public -- at least as far as the company itself is concerned. Investors, however, aren't quite so happy about that timing in light of the second-quarter financial results the company announced Thursday afternoon. 

In its first earnings report as a public company, Facebook announced another sharp decline in the rate of revenue growth -- another signal that the social media leader may have completed its IPO just as its growth, after years of massive gains, was poised to slow down to more normal levels. Facebook stock, which went public at $38 a share, opened trading Friday at just over $23, a new low that represents a plunge of about 14% from Thursday's close.

Guidance for the rest of the year is well below the company's prior projections.

By Jim J. Jubak Jul 27, 2012 3:20PM
After the results that Potash of Saskatchewan (POT) reported Thursday, I'd use the current strength in fertilizer stocks -- on soaring crop prices (because of a severe drought in the United States and elsewhere) and on the general stock market bounce on hopes that the European Central Bank will do something when it meets next week -- to sell shares. 

Even if you continue to like the fertilizer sector -- and at current valuations and with current projections of increased supply I'm not a fan -- the company-specific news from Potash argues that you should find another horse to ride. 
Tags: POT

The company just posted a horrible quarter and suspended its dividend. There's little hope it can turn things around in this age of 'showrooming' and online buying.

By Kim Peterson Jul 27, 2012 3:03PM
All hope is lost for RadioShack (RSH). The stock is trading below $3 and on its way to zero.

Analysts have turned on the company, and with good reason. It has simply lost its direction. That became clear this week after RadioShack suspended its dividend and swung to a $21 million loss in its second quarter from a $25 million profit a year earlier.

Shares fell to an all-time low of $2.46 after the earnings were announced. They recovered to $2.64 Friday. A year ago, shares were $14. 

The company has lost nearly 40% of its value since it went public in May.

By Kim Peterson Jul 27, 2012 1:44PM
Updated 6:15 p.m. ET

(FB) is a market disaster. The stock price is down 20% in two days. Investors are fleeing this thing, even after an earnings report that beat revenue expectations.

We knew where the stock price was headed after watching shares plummet as earnings were announced. The carnage continued Friday, and Facebook shares fell to a record low of $22.28 before bouncing back to close at $23.71. Facebook has now lost about 37% of its value since it debuted at $38 a share in May. 

The Dow crosses 13,000 as the Federal Reserve and the ECB move closer to taking aggressive action.

By Anthony Mirhaydari Jul 27, 2012 1:31PM

For weeks, I've been writing that stocks and other risky assets were headed higher despite signs of economic stalling, confirmed by Friday's GDP report showing a pitiful 1.5% annual growth rate in the second quarter. That was because, as inflation has cooled, the Eurozone crisis has reignited, and China set about managing a once-in-a-decade leadership change, central bankers were poised to unleash a globally synchronized dose of cheap money.


Over the past few days, stocks and commodities, especially precious metals, have taken flight as both the Federal Reserve and the European Central Bank have indicated that more stimulus is coming -- potentially as soon as next week.


Stocks climb on encouraging headlines from Europe.

By MSN Money Partner Jul 27, 2012 1:19PM
Information provided by 

Facebook (FB) shares fell 9% and hit their worst level ever following the company's first quarterly report since going public. The social network's earnings matched consensus and its revenues were a bit better than expected and its stock moved higher briefly in after-market trading. However, it quickly reversed course and fell when the market opened.

Among other large caps reporting earnings, Starbucks (SBUX) fell nearly 11% after lowering its full-year view, while Amazon (AMZN) rose about 7%.

But the satellite broadcaster still seems to be on the right path.

By Trefis Jul 27, 2012 12:51PM
Image: Watching television (© Maria Teijeiro/Getty Images/Getty Images)Dish Network (DISH) recently announced a $1 billion debt offering and, in a relevant filing, it disclosed its subscriber results for the latest quarter. Although the company will report its second-quarter earnings in August, it reported in its recent 8-K filing that it lost 10,000 net subscribers. 

This is disappointing after the results of its last two quarters, during which the company turned around its subscriber losses and surpassed  DirecTV (DTV) in terms of net additions. However, Q2 is usually a slow season and the current figures still point to a significant improvement in comparison to Q2 of 2010 and 2011, when Dish lost 135,000 and 20,000 subscribers, respectively.

The heart pill could be a blockbuster product.

By Jul 27, 2012 12:26PM
Image: Prescription medicine expenses © Don Farrall/Photodisc/Getty ImagesAmarin's (AMRN) heart drug made from fish oil won approval for sale in the U.S., giving the company a product that may attract takeover offers.

On a conference call Thursday night, Amarin CEO Joseph Zakrzewski said a takeover is one of three options going forward for the company. Amarin will either launch the drug, called Vascepa, on its own, partner with another company to help market the product, or sell the entire company to a rival. 

Aeropostale and American Eagle can expect a jump in spending on apparel and accessories this fall.

By Trefis Jul 27, 2012 12:05PM
trefisImage: Mother and daughter with shopping bags (© Big Cheese Photo/SuperStock)Apparel and accessories businesses are among the fastest growing segments this back-to-school season. 

According to a recent survey by the National Retail Federation (NRF), total spending on apparel and accessories is expected to jump over 30%, from $8.3 billion in 2011 to an expected $10.8 billion in 2012. The news comes as a positive signal for teen apparel retailers such as American Eagle Outfitters (AEO), Aeropostale (ARO), Gap Inc. (GPS), Abercrombie & Fitch (ANF), as back-to-school season holds immense importance for teen retailers, and is often regarded as a benchmark before the all important holiday season.

Lackluster earnings will linger as the company invests for the long term.

By Jonathan Berr Jul 27, 2012 11:46AM
Amazon logo copyright Emmanuel Dunand/AFP/Getty (AMZN) had a subpar quarter and sees more pain ahead for shareholders.

The Seattle company reported Thursday that net income in the last quarter plunged 96% to $7 million, or 1 cent a share, its steepest drop since 2002, according to Bloomberg News. Revenue rose 29% to $12.8 billion. The results lagged analysts' estimates of a 3-cent profit on revenue of $12.9 billion. 

To make matters worse, Amazon forecast a third-quarter loss of as much as $500 million -- compared with Wall Street's expectations of a $119.6 million gain -- while sales in the current quarter are estimated at $12.9 billion to $14.3 billion.
Tags: AMZN

Stocks, bonds or commodities? Financial experts debate which asset class is the best bet for now.

By The Fiscal Times Jul 27, 2012 11:26AM
Image: Businessman reading newspaper © A. Chederros/ONOKY/Getty ImagesBy Suzanne McGee The Fiscal Times

Every so often, an event organized by a big financial services conglomerate (primarily to promote a product it has developed) can provide some interesting food for thought. The recent UBS-sponsored debate over whether we're heading into a "risk on" or "risk off" environment was one example.

The two men facing off, Mark Fisher and Dennis Gartman, recently put their heads together with some folks at UBS (UBS) to come up with a "risk on" and a "risk off" index on which the bank and its team of financial advisors could structure and sell exchange-traded notes. Think the market's mood is going to turn again? Well, you can dump your "risk off" notes (the index is made up of long positions in Treasury bond futures, the German bund and the Japanese yen, and short positions in crude oil, an S&P 500 ETF and a Russian stock market ETF to name only a few) and move into their "risk on" counterparts (you'd end up with long positions in everything from corn futures and a Brazilian Real fund to a variety of US stock ETFs).

Sprint upgraded to `buy', Coinstar downgraded to `sector perform'

By Jonathan Berr Jul 27, 2012 10:54AM
Information provided by

Today's noteworthy upgrades include:
Raymond James (RJF) upgraded to Buy from Hold at Sander O'Neill
SunTrust (STI) upgraded to Hold from Sell at ISI Group
SBA Communications (SBA) upgraded from Buy to Hold  at Stifel Nicolaus

Things seemed all backward with Amazon, Starbucks and Facebook.

By Jim Cramer Jul 27, 2012 10:48AM

On the surface it was all backward Thursday night.

First, Amazon (AMZN) gave us one of the biggest misses I have ever seen, a wholesale retreat, almost comical in its lack of relation to the profitability people were looking for, a gigantic step backward for this $100 billion company.

Starbucks (SBUX), on the other hand, gave us a strong number with 7% comp sales that was able to mask the European problems that we knew were plaguing it. Looks like there's going to be hope of a quicker turnaround after all.


Luxury home furnishings retailer Restoration Hardware might have a better go this time.

By InvestorPlace Jul 27, 2012 10:10AM
By Will Ashworth

Luxury home furnishings brand Restoration Hardware is going public in late summer or early fall, exactly a year after initially filing with the SEC. This isn't the first time it's gone public. In June 1998, it sold 3.3 million shares at $19 for net proceeds to the company of $47.8 million. Last time it traded on the NASDAQ; this time it's going on the NYSE.

Depending on how this is priced, it should be a very interesting IPO.



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Market index data delayed by 15 minutes

[BRIEFING.COM] The S&P 500 trades lower by 0.1% with one hour remaining in today's forgettable session.

Today's economic data was limited to the weekly MBA Mortgage Index (+2.8%), but tomorrow will be a bit more busy, featuring the second estimate of Q2 GDP ( consensus 2.0%), the Pending Home Sales report for July (consensus 0.5%), and weekly initial claims (consensus 302K).

Elsewhere, Treasuries are on their highs with the 10-yr yield down four basis points at ... More


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