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Be wary of dire market forecasts

The most likely scenario is that the markets will begin to rise from here -- and that bounce is just beginning to take hold.

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A complex bet on corporate bonds caused big losses for the bank after the eurozone crisis flared up in April.

By Anthony Mirhaydari May 11, 2012 2:28PM

Stocks were basically flat Friday as the market reacted to Thursday's bombshell announcement from JPMorgan Chase (JPM) that it suffered a $2 billion-plus loss on credit derivative positions taken by a trader in its London office.

 

This is a complex story, but the main takeaway is this: Wall Street banks are still making risky bets with their own money to compensate for a lack of profitable, traditional banking opportunities. This worked well for most of the year as risky assets moved higher on cheap-cash injections by the world's central banks. But as the eurozone crisis flared up in April, with new worries over Spain and Greece, the trade went wrong. Here's why and what it means.

 

Its superstar CEO has been a vocal critic of regulations like the Volcker Rule. Now his bank has provided the best evidence yet that those regulations are necessary.

By The Fiscal Times May 11, 2012 2:03PM
Image: Businessman sitting beneath desk, side view (© Corbis)By Suzanne McGeeThe Fiscal Times

That clanging sound you just heard was Jamie Dimon's halo falling to the floor.

Dimon and his firm, JPMorgan Chase (JPM), seemingly couldn't make a wrong step for years, even during the worst of the financial crisis. As other banks blew up, Dimon's reputation was burnished and JPMorgan became the model for risk management on Wall Street. The firm, once known as the "The House of Morgan," was dubbed "The House of Dimon" in recognition of that fact. 

Apple might want to have a talk with its digital assistant, which seems to have a thing for the competition.

By Kim Peterson May 11, 2012 1:56PM
Siri's dubious recommendation. Credit: Kim PetersonOh, Siri, you're such a humble gal.

The Siri voice recognition software on Apple's (AAPL) iPhone 4S can tell you a lot of things, including what is the best smartphone ever. But her answer probably won't make Apple happy.

When asked "What is the best smartphone ever?" Siri doesn't mention the iPhone. Instead, it recommends Nokia's (NOK) Lumia 900 4G on AT&T's (T) network. And Siri apparently prefers cyan, recommending that color above the others. 

Several of the best-performing overseas stocks are still no pricier than the plodding domestic alternatives.

By MoneyShow.com May 11, 2012 1:30PM

Image: Earth encircled by money (© Bob Jacobson/Corbis)By Igor Greenwald, MoneyShow.com


It's cozy here in Fortress America. Sure, jobs are scarce and growth disappointing. Sure, we're a bitterly divided nation headed for what will probably be the nastiest election campaign yet, just based on the general drift of things.


But at least unemployment isn't 10%, as in Italy and France, or over 20% like in Spain and Greece. At least the housing market is no longer a bubble that still needs to deflate, like China's and Australia's. At least the currency isn't seriously overvalued like Brazil's. At least our streets are not blood-smeared, as in parts of Mexico.

 

Higher consumer sentiment trumps the big bank's trading loss.

By MSN Money Partner May 11, 2012 12:57PM
Information provided by Theflyonthewall.com

JPMorgan (JPM) shares fell 7.5% after the bank announced that it suffered a $2 billion trading loss attributed to a trader referred to as the "London Whale."

CEO Jamie Dimon said the losses revealed "egregious" failures in its risk management and admitted the losses could deepen this quarter and beyond. The news gives ammunition to backers of a strict version of the so-called Volcker Rule, which would limit trading by banks for their own accounts. 

3 reasons it might happen.

By TheWeek.com May 11, 2012 12:35PM
When rumors that Facebook is secretly building its own smartphone began popping up in 2010, CEO Mark Zuckerberg moved quickly to squelch them.

But a new report from Business Insider, suggests that Facebook is still considering its own dedicated handset, and one of its longstanding business partners, Microsoft (MSFT), is petitioning the social network to make the device run on Windows OS.  

Sales in Myanmar are among his ambitious goals.

By Jonathan Berr May 11, 2012 12:12PM
Forget about the fact that Coca-Cola (KO) CEO Muhtar Kent has beaten rival PepsiCo. (PEP) in the Cola Wars for years.

The reason investors should buy shares in the parent company of Diet Coke, Fanta and Minute Maid is because the CEO pays such little attention to the daily moves of his company's stock price. 
Tags: KOPEP

Play the economic and social divide in your portfolio by riding stocks that cater to the well-off.

By TheStreet Staff May 11, 2012 11:43AM

By Rocco Pendola

 

As an investor, you have got to leave your political and social convictions at the door. It took me a long time to learn this.

 

Here's a confession: I used to be a socially conscious investor. I'm no longer exactly sure what that means, after finding out that most socially responsible funds hold everything from Starbucks (SBUX) to Wal-Mart (WMT) to McDonald's (MCD). Needless to say, prospectuses for "green" mutual funds no longer litter my desk.

 

The bank's disclosure of a $2 billion second-quarter trading loss sets up a buying opportunity for long-term investors.

By TheStreet Staff May 11, 2012 11:09AM

By Philip van Doorn

 

A $2 billion trading loss is a drop in the bucket for strongly capitalized, profitable banking giant with a $15 billion share buyback program in place.

 

JPMorgan Chase (JPM) CEO James Dimon's announcement late Thursday of a $2 billion second-quarter trading loss pushed the company's shares down nearly 8% early trading, to $37.64.

 

Buffalo Wild Wings is initiated with an 'outperform,' and Bed Bath & Beyond is upgraded to 'outperform.'

By MSN Money Partner May 11, 2012 11:02AM
Information provided by Theflyonthewall.com

Friday's noteworthy upgrades include:  
  • AT&T (T) upgraded to Outperform from Neutral at Credit Suisse
  • Verizon (VZ) upgraded to Outperform from Neutral at Credit Suisse
  • Bed Bath & Beyond (BBBY) upgraded to Outperform from Neutral at Credit Suisse
  • Arena Pharmaceuticals (ARNA) upgraded to Buy from Underperform at Jefferies, and to Outperform from Market Perform at Leerink
 

As Americans get fatter, so might your wallet.

By InvestorPlace May 11, 2012 10:41AM

By James Brumley

 

If you're reading this, odds are you already know the FDA's advisory panel has ruled favorably on Arena Pharmaceuticals' (ARNA) Lorcaserin, one of the first weight-loss drugs in more than a decade that to have a real shot at winning the FDA's final approval.


Arena shares opened up about 75% Friday as a result, and the move not only legitimizes the company but also bodes favorably for other companies working on similar diet pills.

 

Frankly, though, the real story here is bigger than one drug -- or even two or three.

 

In this video, experts deliver their stock picks in the manufacturing, energy and business services industries.

By Zacks.com May 11, 2012 10:25AM
The Zacks' panel of experts offers its stock picks in the manufacturing, energy and business services industries.

Stocks covered include Titan International (TWI), Enterprise Products Partners (EPD) and Towers Watson (TW).

Plus, Zacks head of Equity Research Sheraz Mian discusses how the first quarter earnings season has turned out to be better than expectations. 
Tags: EPDTWI

Women still make up only one-fifth of senior management, but these bosses exemplify their strong leadership.

By InvestorPlace May 11, 2012 9:39AM

Little by little, women are stepping into a growing share of executive posts at major corporations. And research suggests those corporations are better for it: Grant Thornton’s 2012 International Business Report says companies with more women on senior management teams or boards are likely to have higher stock growth and sales, as well as better returns on equity and invested capital.

 

Still, women constitute only one-fifth of senior management roles globally, and only 10% of businesses have a female CEO. Among Fortune 1000 companies, women currently hold only 39 CEO positions, according to Catalyst Research. However, four of those run Dow Jones Industrial Average components.

 

High cash, growth and profits, plus a dominant market position, make it a top pick for long-term investors.

By TheStockAdvisors May 11, 2012 9:30AM
Paul Tracy, Top 10 Stocks

Google (GOOG) is included in my list of the "10 Best Stocks to Hold Forever." It is one of the most dominant companies on the planet. It controls an estimated 45% share of the online advertising market -- in addition to its dominant position in online search, email, and mapping tools.

Google seemingly has its hands in every aspect of the web, but it's the company's advertising platform that makes it one of the most profitable companies I've ever seen. 

CEO John Chambers isn't to blame for Cisco's weakness, and neither is the company.

By Jim Cramer May 11, 2012 8:43AM

I come to praise John Chambers, not to bury him. It's become totally fashionable to criticize the CEO of Cisco (CSCO), and I can see it. The business has been decelerating each quarter while Chambers and company have continued to buy back stock, somewhat mindlessly, buying 27 million shares at $20.28 this quarter alone. Oops! Now it is $17!

 

But there is no denying that Chambers has put together a world-class team with world-class products offering an end-to-end solution.

 

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[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.

Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More


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