A Mexican wave for Big Oil?
Mexico opens way for Big Oil

New legislation is allowing foreign companies to finally invest in the country's vast oil reserves.

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The move is expected to save costs as Kraft prepares to spin off into two companies.

By Benzinga Jun 8, 2012 6:41PM
By Matthew Kanterman, Benzinga staff writer

With all of the negative media surrounding the botched Facebook (FB) IPO, investors may be forgetting that the Nasdaq (NDAQ) is still a strong franchise and is still attracting new listings. Nasdaq came under fire after trading glitches marred Facebook's first day of trading.


Nasdaq CEO Bob Greifeld stated on CNBC recently that the company's backlog of IPOs has actually grown since Facebook went public. And now it has another feather in its cap: Kraft (KFT) is planning to delist from the New York Stock Exchange (NYX) and relist on the Nasdaq.

 

On its face, the new feature sounds like a great idea. But too often, it sends users to other companies' links.

By Benzinga Jun 8, 2012 6:31PM
By Louis Bedigian, Benzinga Staff Writer

Facebook is receiving a ton of press for its apparent effort to take on Apple (AAPL) and Android in the battle for app dominance. But while other app marketplaces offer tangible goods, the Facebook App Center is inundated with external links and ad-filled freebies.


Let's start with the biggest and most popular games. Facebook (FB) users who scroll through the list of apps will instantly notice that "Angry Birds Friends" is available -- and playable.

 

There are some Chinese stocks in the right sectors that also trade with decent liquidity in New York.

By Jim J. Jubak Jun 8, 2012 6:13PM
Thursday I wrote that market reaction to the interest rate cuts by the People's Bank could cut one of two ways. 

Investors could either bid up Chinese stocks, because China's central bank had escalated its stimulus of the flagging economy, or sell Chinese stocks on worries that the move indicated that China's economy was slowing more quickly than expected.
 

The investment bank is weighing the merits of a complete sale of the unit versus the sale of a minority stake.

By Trefis Jun 8, 2012 3:45PM
TrefisMorgan Stanley (MS) is reportedly trying to figure out how its commodities trading unit best fits in its business model -- and more importantly whether it should actually have a place in its business model -- once the Volcker Rule imposes a ban on several of its activities.


Although no concrete plans have materialized as of now, the global investment bank is apparently weighing the merits of a complete sale of its commodities unit versus the sale of a minority stake in the business. Once the leader in the global commodities market, Morgan Stanley has been pushed to the No. 4 position by competitors JPMorgan Chase (JPM), Barclays (BCS) and Goldman Sachs (GS).

 

As shares flounder near multimonth lows and the eurozone crisis simmers, there are indications that pessimism has gone too far.

By Anthony Mirhaydari Jun 8, 2012 2:46PM

After some impressive strength earlier this week that returned the major averages to their late May highs, the rebound rally has run out of steam. Investors clearly have a lot on their minds. On the downside, the Federal Reserve and the European Central Bank seem less than eager to deploy fresh monetary policy stimulus. On the upside, Europe appears to be cobbling together a direct bank aid package for Spain, while China's central bank just cut interest rates for the first time since 2008.

 

I think it's just a temporary pause in what will prove to be a short-term rebound rally. Based on hedge fund positioning and other measures of market sentiment, many investors are very worried and positioned extremely defensively. I think that sets the stage for some upside surprise before the long-term downtrend reasserts itself.

 

The company's grand foray into 4G territory came with a hiccup, as the new iPad isn't compatible with Australia's 4G networks.

By Minyanville Jun 8, 2012 2:09PM
If Mel Gibson's turn as a post-apocalyptic road warrior taught us anything, it's that no one should cross an Aussie. (Or fail to record their voicemails, for that matter.)

Now Apple (AAPL) is learning that lesson as it finds itself $2.25 million lighter after controversy erupted over claims of the new iPad's speeds. 

Analysts are far from perfect. But sometimes their predictions are correct -- and can produce spectacular returns.

By Benzinga Jun 8, 2012 2:03PM

By Ilir Shkurti, Benzinga Staff Writer


Analyst ratings are a special breed of financial news that can yield profitable trading signals when caught early and approached the right way. 


Below are 10 analyst calls made this year that have so far produced at least a 50% return:

 

The automakers are experiencing tough times at home and abroad, but there may be some light at the end of the tunnel.

By Benzinga Jun 8, 2012 1:30PM
Image: Couple shopping for car (© Image100/Jupiterimages)By Katey Stapleton, Benzinga Staff Writer


Ford (F) and General Motors (GM) are gearing down for potentially disappointing revenues -- and this time around, the bad news is coming from overseas. 


Just as Europe undoubtedly felt the backlash from America's economic crisis, American companies are now feeling pain as a result of Europe's troubles. 

 

Stocks are higher ahead of a number of potentially market-moving events expected over the weekend.

By MSN Money Partner Jun 8, 2012 12:39PM
Information provided by Theflyonthewall.com

Chesapeake Energy (CHK) was in focus as it held its annual shareholder meeting. Two current directors resigned after shareholder voting and a proposal to amend the company's long term incentive plan passed.

The company also announced three separate transactions to sell its midstream assets for total proceeds of more than $4 billion, including the sale of its general partner interests in Chesapeake Midstream Partners (CHKM) to Global Infrastructure Partners for $2 billion. 

Sobering words from the high-end retailers rattle investors.

By The Fiscal Times Jun 8, 2012 12:07PM
Image: Young woman clothes shopping (© Image Source/Getty Images)By Suzanne McGee The Fiscal Times

Despite all the recent market turmoil and unease, investors have remained relatively confident that members of the ultra-affluent 1% would continue to remain willing to drop a few hundred dollars for a new pair of shoes, a scarf, a tie -- all without turning a hair.

Luxury retailers catering to this elite group have routinely trumped most of their rivals when it comes to posting higher profits or larger gains in same-store sales. Late last year, shoppers snapped up "fantasy gifts" offered by Neiman Marcus for the holidays, ranging from a $250,000 speedboat to a $395,000 Ferrari. 

Cisco is initiated with a 'buy' and Lennar is downgraded to 'sell.'

By MSN Money Partner Jun 8, 2012 11:47AM
Information provided by Theflyonthewall.com

Friday's noteworthy upgrades include:
  • Kinder Morgan (KMI) upgraded to Overweight from Equal Weight at Morgan Stanley
  • Nordstrom (JWN) upgraded to Buy from Neutral at Buckingham
  • Praxair (PX) upgraded to Outperform from Neutral at RW Baird
 

A massive $1.5 billion scotch investment speaks volumes about this conglomerate.

By InvestorPlace Jun 8, 2012 10:54AM

By Charles Sizemore


Have you ever noticed that new "premium" vodka brands seem to pop up every other year, yet the quality scotch brands you see on shelves today are the same ones you might have seen in your grandfather's liquor cabinet?


There's a reason for that: Vodka is colorless, flavorless and can be mass-produced from scratch in a matter of days. For that matter, you can make it in your bathtub over a long weekend with basic ingredients from your kitchen.

 

May sales fall short of targets, but that's no reason to panic.

By Jonathan Berr Jun 8, 2012 10:35AM
Image: Hamburger (© BananaStock/Jupiterimages)Shares of McDonald's (MCD) fell as much as 2% Friday after the burger chain reported worse-than-expected May sales.

The results were still pretty good, though. Overall, sales at restaurants opened at least 13 months rose 3.3%, with gains of 4.4% in the U.S. and 2.9% in Europe. They declined by 1.7% in the Asia Pacific, Middle East and Africa. Analysts' estimates ranged from a gain 4.6% to 5.2%. 
Tags: MCD

With a low stock price, a solid business and a new CEO, HP is poised to reinvent itself.

By TheStockAdvisors Jun 8, 2012 10:07AM
By George Putnam, The Turnaround Letter

After a big run-up in the tech bubble of the late 1990's, Hewlett-Packard (HWP) has bounced around quite a bit ever since, as the company has struggled to maintain growth. From a post-bubble high of $54.75 in April 2010, the stock has dropped by nearly 60%.

Leadership has been an issue, with a frequently dysfunctional board of directors and four different CEO's since 2005. But the company has a lot of the things that we look for in a turnaround: solid core business, well-known brand, solid financials and a change in top management. The question is: Can they actually turn things around? We think the answer is yes. 

Somehow it's considered a bad thing, because we take it as a sign of European weakness. What about all the upsides for the US economy?

By Jim Cramer Jun 8, 2012 9:47AM

It's not just that we are intertwined. It's that we're intertwined in such a way that everything is considered bad even when it should be good.

 

I'm talking about the price of oil, which had its worst week in 30 years. Somehow, this is considered to be terrible news when it comes to U.S. equities, because it shows the underlying weakness in our economy and in economies worldwide.

 

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[BRIEFING.COM] The major averages punctuated a solid week with a subdued Friday session. The S&P 500 shed 0.2% to narrow its weekly gain to 1.7%, while the Nasdaq Composite (+0.1%) displayed relative strength. The tech-heavy index finished the week in line with the benchmark average.

Market participants went into today's session expecting to hear some new insight from Fed Chair Janet Yellen, who delivered the keynote address at this year's Jackson Hole Symposium. Unfortunately, the ... More


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