Jim Cramer asks, why pay any attention to letters from a manager who lost money in the first quarter?
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A new CEO hopes some tech-world experience will help him reimagine the struggling retailer.
Ron Johnson is the new J.C. Penney (JCP) chief executive officer, taking the reins of the iconic retailer on Nov. 1. And if his recent comments to analysts are any indication, the new CEO is looking to draw heavily on the big ideas from his days at Apple (AAPL) to breathe new life in to the struggling department store.
Why? Two reasons: The president's blanket opposition to fossil fuels, and the coal and chemical money lobbying Congress.
It's not my wish is my command, but it was terrific Tuesday to see the introduction of the New Alternative Transportation to Give American Solutions, NATGAS Act, introduced in the Senate.
The aim is to give incentives to trucking businesses to switch to cleaner engines that use cheaper, more abundant natural gas but are more costly than regular engines to procure. If this bill passes, it would make little sense not to buy nat gas engines, because of the historic low price of natural gas compared with diesel. We have so much natural gas in this country that it is no longer an issue of availability. Diesel will almost always, from now on, be in short supply because of refinery issues and ridiculously strong Chinese demand.
The sporting goods giant sprints past estimates, raises guidance and announces a dividend.
Dick's Sporting Goods (DKS) reported better-than-expected third quarter earnings Tuesday and the company also announced a dividend for the first time. Shares jumped about 5% in early trading and held those gains much of the day, closing at $41.41, a gain of 4.5%.
Amazon officially launches its new tablet today.
The tablet market feels like it's an old friend, when in reality it's still incredibly nascent. Apple (AAPL) kicked off the iPad in April 2010, so we're just barely past the one-and-a-half-year mark. The Kindle Fire has garnered mixed early reviews, with some praising its compelling value proposition for its impulsively tempting $199 price tag. Some see it as a viable threat to the iPad, while others put it in a category of its own.
Doug Kass says the company's portfolio is so massive that it will have to make larger deals just to move the needle.
Take Monday's announcement by Warren Buffett that Berkshire had invested $10 billion in IBM (IBM), Kass wrote in a note. Berkshire's portfolio is so huge that it will have to make larger deals just to move the needle. He thinks the IBM deal shows that "more ordinary and plain vanilla" investments will be the core of Berkshire's portfolio strategy in the future.
A phony Google+ site that appeared to belong to the bank has been taken down, creating embarrassment for B of A and Google.
Pranksters created a fake website for the bank on the Google+ social network this month, posting unflattering pictures of executives and snarky status updates.
The site appeared to be legitimate, with the bank's logo and contact information. But a description that read "We took your bailout money and your mortgage rates are going up" and updates such as "Big company party in foreclosed house #2340087 tonight!" were dead giveaways that the bank had been punked.
If market adages continue to prove true, perhaps a Santa Claus rally is in store for December.
By Jeff Kleintop, TheStreet
It has been a textbook year. That is, if your textbook is the Stock Trader's Almanac. The old stock market chestnut "sell in May and go away" proved to be good advice this year. But that was not the only adage of Wall Street traders that worked in 2011 -- they all worked.
This has been the year of the stock market cliché in that all of the time-worn axioms based on the calendar actually were worth following this year:
Investors who think the forgotten BRIC nation can climb out of the doldrums should seek exposure through a geographically diversified fund.
By Don Dion, TheStreet
Clear hurdles persist, but as we approach the end of 2011 and prepare for the new year, it may be time to start looking at the forgotten member of the BRIC nations: India.
It has been a trying year for the Indian marketplace as issues such as inflation and corruption have weighed heavily on performance and led many to question the strength of the emerging economic growth engine.
The Vanguard Consumer Staples ETF has trounced the broader market and doesn't require a high initial investment.
By John Defeo, TheStreet
Some dividend investors may favor a reliable stream of dividend checks; others might prefer a single, lump-sum around the holidays. If you find yourself in the latter category, consider the Vanguard Consumer Staples ETF (VDC).
This Vanguard ETF is under the radar, but offers several compelling reasons to own it:
There's an intriguing gap between the price of crude oil and the price of oil-service stocks. But how do you exploit it?
By Suzanne McGee, The Fiscal Times
There's a mystery in the oil patch.
An intriguing valuation gap has opened up as the price of West Texas Intermediate crude oil has recovered to about $98 a barrel, only 2% below levels seen in July, while oil services stocks haven’t bounced back nearly as much.
The two investments are typically tightly linked, Canaccord Genuity analyst Scott Burk says, so that anomaly opens up the prospect that either crude oil is due for a selloff (of up to 16%) or oil services stocks are set to rally in order to close that gap.
Demand for the company's LCD glass should rise, led by increased panel utilization rates in Korea, as inventory contraction ends.
In the last quarter, Corning's display technologies sales witnessed a 7% sequential and 26% year-over-year increase while pricing pressures remained. The display industry faced an unusual market dynamic this year in which retail demand for LCD products was stronger than actual LCD glass demand.
The carrier capitalizes on the federally-subsidized Lifeline service to attract prepaid customers.
The federally-subsidized Lifeline program provides millions of low-income Americans with 250 free monthly cellphone minutes, and pays carriers such as Sprint as much as $10 per month per customer to offer free or discounted wireless plans to qualifying subscribers.
While the PC maker has increased revenue in the past four quarters, the growth rate has consistently declined.
The world's third-largest PC vendor offers a number of products and services to consumers and businesses, and competes with Apple (AAPL), Hewlett-Packard (HPQ), IBM (IBM) and others in broad information-technology sector.
The office supply giant couldn't meet Wall Street expectations on revenue in its third quarter.
The Framingham, Mass. company said net income for the third quarter increased 13% to $326 million, or 47 cents a share, up from $288.7 million, or 40 cents. Revenue rose to $6.57 billion, below the $6.71 billion Wall Street expected amid weakness in its international business.
This year's Turkey Day meal will cost you almost $6 more
In a little more than a week, American families will gather around the table for traditional Thanksgiving meals. Classic dishes like turkey, stuffing, cranberries and pumpkin pie will be on millions of home menus nationwide.
Unfortunately, thanks to rapidly inflating food prices, there will either be a whole lot less food on the table or a much bigger price tag on the Turkey Day feast.
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- Precious metals began pit trade in the red but rallied sharply into positive territory moments after equity markets opened.
- June gold brushed a session low of $1268.50 per ounce in early morning action and popped to a session high of $1299.00 per ounce. It then consolidated near the $1290.00 per ounce level and settled with a 0.5% gain at $1290.80 per ounce.
- May silver traded as low as $18.98 per ounce in early morning pit trade and rallied to a session ... More
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