Since she joined in July 2012, CEO Marissa Mayer has acquired dozens of startups.
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The goofy and sometimes creepy mascot is overthrown as part of the fast-food joint's rebranding efforts.
The nation mourned Friday after Burger King executives broke into the guarded top floor of the fast-food chain's corporate headquarters in Miami, Fla., and took out the King in a shocking coup d’état. Releasing a statement Friday morning regarding the deposition of the long-standing monarchy, senior marketing vice president Alex Macedo said, "People want a reason to go back to Burger King."
The King wasn't killed, but the masked mascot was indeed shown the door. Burger King is kicking off a new marketing blitz that looks to rebrand the restaurant as a distributor of healthier, mom-friendly menu items.
The overthrow of the king is more symbolic than anything else. The real story of whether Burger King has changed will be told by its new menu, including a centerpiece push that focuses on a California Whopper.
If you're looking for a contrarian bet, these shares might become too cheap to resist.
By Chris Stuart, TheStreet
The outlook for the housing market, as reported by the mass media, is not good. In case you've missed them, here are a few of the headlines from over the past several weeks:
"No recovery in sight for US housing market"
"July real-estate market fell short of expectations"
"Housing data show sector is still weak"
The stock plummets more than 20% as the company also announces a major strategic overhaul.
By James Rogers, TheStreet
Hewlett-Packard (HPQ), desperate to boost its margins, unveiled a major corporate and strategic overhaul Thursday, which will involve ditching its WebOS devices and potentially spinning off its PC business.
HP turned on a firehouse of announcements, reporting its preliminary third-quarter results and confirming the purchase of U.K. tech company Autonomy, which makes data analytic software.
Investors responded negatively to the slew of announcements and HP's weaker outlook, sending shares tanking 21.2% to $23.25 Friday morning.
After intense speculation about a possible HP breakup, the company confirmed that it wants to get rid of its PC business.
Until stocks fall to the point where the anarchy in Washington is fully discounted, we just have to presume prices are too high.
I was soul searching all day about whether the people in Washington, D.C., just have no idea what makes business tick or actually just don't care for business.
I say this because the disastrous NetApp (NTAP) call wasn't about low taxes -- what some people in Washington believe is the panacea -- it was about rancor and ugliness and the loss of confidence in our country.
I keep thinking back to a moment when I was on "Meet the Press" just a couple of weeks ago and said this brinkmanship could actually hurt orders, hurt business. I was hearing it anecdotally from execs.
It's no longer anecdotal. Now it is empirical.
Wasteful multibillion-dollar buyouts, no innovation, a lack of leadership and a bloated corporate structure plague this struggling tech giant.
By Jeff Reeves, Editor, InvestorPlace.com
The market had quite an ugly day on Thursday. But for a brief moment, Hewlett-Packard (HPQ) swam upstream on news that it is working out a massive $10 billion buyout of software company Autonomy. Of course, the gains were fleeting and Hewlett-Packard stock finished the day down, along with nearly every other stock on Wall Street. Some investors were fooled for about an hour, and then the profits evaporated. In premarket trading Friday, it was down 13%.
Thursday's news is a fitting example of how HP is trying to manage its business these days. The 10-figure buyouts. The claims that it is rethinking its role in the tech sector. The blatant flaunting of its massive cash stockpile at a time when companies claim to be suffering from the economic downturn.
Hewlett-Packard is everything that's wrong with corporate America right now, exhibiting stupidity, a lack of innovation, bloated operations and no leadership.
Recent data are gloomy enough to remind the financial markets of the dark days of 2008. But there is a plus side.
The Dow Jones Industrial Average ($INDU) and the Standard & Poor's 500 ($INX) have had a tough week.
US investors are wading back into equities and ETFs, even as the markets continue to sell off.
By Robert Holmes, TheStreet
Mutual fund data from research firm TrimTabs suggests that retail investors are bottom-fishing, dipping a toe into the pool of U.S. stocks. The data come as the major stock indices are plunging anew, with the S&P 500 down 4.5% Thursday and the Dow Jones Industrial Average ($INDU) also down close to 4% shortly before 3 p.m. ET.
TrimTabs says that preliminary figures show that U.S. equity mutual funds saw inflows of $6 billion on Aug. 15 and Aug. 16 after redeeming $41.8 billion in the previous 12 sessions.
The city has ended its rating contract withs S&P after the agency downgraded its investment portfolio.
That's what the city of Los Angeles did after S&P downgraded its $7 billion investment portfolio to AA from the perfect AAA rating. The city will no longer hire S&P to rate its investments, The Los Angeles Times reported.
"We have really lost faith in S&P's judgment," the city's interim treasurer said.
After cutting its rating on the U.S. debt this month, S&P went on a downgrade binge that included dozens of cities, counties and other municipalities. And some of those governments are joining Los Angeles in their dismissal of the agency.
US presidents have very little control over global oil prices. Could the candidate change that?
But Michele Bachmann is going to try.
"The day that the president became president, gasoline was $1.79 a gallon. Look at what it is today," she said in South Carolina. "Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen."
Anchors Jim Cramer and Simon Hobbs tussle about whether we could be in a 'Lehman moment.'
Tensions between the two have been growing lately, and everything exploded after Cramer suggested the possibility that this could be a Lehman moment. Check out the following video.
Extreme bullish sentiment and technical indicators signal a pullback in gold and its popular ETF could lie ahead, and a covered-call strategy may be the best way to profit.
After a brief respite, stocks are plunging again. We're retesting the lows, but the bottom hasn't fallen out.
Stocks were plunging Thursday in reaction to some very poor economic data. The Philadelphia Fed Business Outlook Survey dropped to its worst levels since early 2009 as results badly missed Wall Street estimates. The General Business Conditions component dropped to negative 30.7 vs. the positive 1 analysts were expecting. Ugliness was seen in new orders, shipments and employment.
If there was any silver lining, it was that the Philly Fed and Wednesday's Empire State Index don't yet suggest the all-important economy-wide ISM Manufacturing Index has dropped into recessionary territory. Moreover, the Philly Fed survey was conducted between Aug. 8 and 16, so it was no doubt affected by the recent financial market volatility.
If markets rebound -- as I expect heading into next week's speech by Federal Reserve Chairman Ben Bernanke in Jackson Hole, Wyo., where new market-supporting initiatives will likely be unveiled -- business confidence should be restored quickly. Remember that while a new recession is still a distinct possibility, we don't have the normal preconditions. Profitability is still growing, interest rates are near zero, jobs are being created, inflation is low, and the Fed is being extremely accommodative.
In roller-coaster market conditions, yields offer investors a seat belt.
Frank Byrt, TheStreet
All U.S. equity mutual fund categories have seen large outflows this year, except for so-called equity-income funds, which took in $11 billion through Aug. 10, Standard & Poor's said. Investors are piling into the safest stocks as the U.S. economy is slowing. Thursday, Morgan Stanley (MS) lowered its forecast for global economic growth.
The firm's MarketScope Advisor unit recently highlighted its three top-rated five-star equity-income funds that are benefiting from those flows and suggests that "investors should follow suit" in their investment choices.
This spectacular blowup will create bargains in tech stocks, but wait until the dust has settled.
NetApp (NTAP) is a real blowup, and it puts the blowup right at the feet of Washington, D.C. The problem is that even without Washington, it was probably the wrong time to own it, because tech is so, so problematic right now.
You have a triple whammy against the sector now. Europe, where so much tech is sold, is going off the grid because of the debt crisis.
The U.S. is a mess -- although not going into a recession -- and government spending, which has been a big part of tech sales, is being cut, in some cases dramatically.
Finally, we have studied tech for many years, and it has rarely paid to own tech stocks before the last week of September. We are in the technology dog days, when owning the stuff is totally precarious, as those who have NetApp stock know all too well.
Investors are already reacting, and their reactions will have big effects.
By Dan Caplinger
Few weeks on Wall Street can match the craziness that last week gave investors. Four days of huge volatility, followed by what seemed like a quiet Friday by comparison with a 125-point jump for the Dow, has everyone on edge.
In the aftermath, everyone's looking for answers about what's to come. Poring through all the things that investors did during last week's roller-coaster ride yields many different insights:
- On the commodities front, hedge funds poured into gold and precious metals, but interest in other commodities like base metals and foodstuffs largely evaporated. In particular, copper saw speculative demand drop by more than 60% for the week, potentially boding ill for big copper producers Freeport-McMoRan (FCX) and Southern Copper (SCCO).
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John Stumpf acknowledges that growth has been slow, but he says he's still optimistic.
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[BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +1.50. U.S. equity futures have climbed out of the red after spending the entire overnight session in negative territory. The overnight weakness tracked losses across Asian markets, but futures began climbing as the European session got underway. At this juncture, the S&P 500 futures hover roughly two points above fair value as the benchmark index will look to rebound from yesterday's modest decline. ... More
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