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PLA is developing a less racy site in an effort to reach out to a broader audience and return to profitability. But will it work?
Playboy (PLA) has already cut its staff and cut its office space … but you know things are bad when Hef starts cutting back on the amount of skin his Bunnies are baring.
According to industry reports, Playboy is planning on a mix of new sites aimed at tackling a tamer market – and none of them involve nudity. According to Playboy insiders, the company is developing a “free, safe-for-work site” its calling TheSmokingJacket.com, as well as additional subscription content with a slightly tamer feel. Think Maxim, not … well, any number of dirty M words that cross your mind.
Trading in 10-year Treasuries mirrored the frantic action in the stock market Thursday, with heavy foreign demand sending yields lower.
By Philip van Doorn, TheStreet
While today's frantic trading of 10-year Treasuries mirrored the wacky action in the stock market in the wake of a possibly erroneous trade of Procter & Gamble (PG) shares, the action reflected euro zone fears.
"There's a lot of foreign money coming in," says Tom Graff of Cavanaugh Capital Management.
After closing at a yield of 3.55% Wednesday, the 10-year yield dropped to about 3.40% at 2:15 p.m. ET Thursday afternoon, plunging as low as 3.3%. Then, over the next 20 minutes, coinciding with the recovery of the Dow Jones Industrial Average ($INDU), the yield rose to 3.4%, eventually closing at 3.375%.
Online brokerage firms gain from today's market tumult as customers rush to trade.
By Laurie Kulikowski, TheStreet
The market drop on Thursday sent retail trading volumes spiking at online brokerage firms such as TD Ameritrade (AMTD) and E*Trade Financial (ETFC).
The Dow Jones Industrial Average ($INDU) plunged more than 1,000 points at one point Thursday, briefly sending the index below 10,000. The blue-chip index closed down about 350 points amid investor fears about the debt crisis in Greece spreading to the rest of Europe. High-frequency trading programs were mentioned by some market observers as contributing the selloff.
A possible trading error in Procter & Gamble's (PG) stock was cited as the culprit behind the market's extreme drop, just before 3 p.m. ET. Reports said Citigroup (C) was involved with the bad trade. The company issued a statement saying it had no evidence of its involvement in such a trade. Either way, the market volatility was a boon for online brokerages.
Google, Cisco and Apple drop midday amid market rout, but recover from lows.
By Scott Moritz, TheStreet
The Thursday stock wipeout set the altimeter spinning for some big tech stocks before late trading pulled the market out of the nosedive.
In the wake of the selloff, market observers and news outlets were speculating about the cause of the bloodbath. Some pointed to a trading error. Others say the computer-generated high-volume trading may have also run amok compounding the selling activity, which sent the Dow Index down nearly 1,000 points mid-afternoon.
The selling frenzy was felt across tech. Here are some of the names that dropped:
A yield-driven strategy is your only protection from a market crash besides diversification.
Or was it just a key-punch error, where someone was trying to sell $15 million worth of stock and the order came out as $15 billion? Was it an order feed that broke down?
We aren't sure, but we know the system was overwhelmed and the market didn't work.
How do you play a market that does not work? How do you play a fast-motion crash instead of the 18% decline we had in a week back in October 2008?
The market's volatility today wasn't based on stocks -- it was based on currencies, sovereign debt and the flight to gold
Wall Street suffered a brutal session today, with the Dow Jones Industrial Average dropping as much as 1,000 points intraday and temporarily dipping below the 10,000 mark. That’s a mid-day swing of more than 9% -- sending the benchmark index to its worst reading since February. The market ended up fighting back to 10,520 at the close, but still logged its worst intraday decline in history.
But the most important story, believe it or not, is not the stock market per se. The real chaos investors need to watch closely is the currency markets and gold. This will tell us whether the bull market is over or whether investors can count on the market recovering from today's sell-off.
Worries over Greece create opportunities in stocks. The time to buy is when there is blood in the street.
Talk about your wild days of trading.
Procter & Gamble (PG), usually a boring defensive stock, traded for $40 a share at its low Thursday. No wonder some speculated a glitch somewhere in its pricing; this sort of stock doesn't ordinarily drop $20 in value in less than five minutes of trading.
But it wasn't the only odd move. Shares of my favorite stock to own Apple (AAPL) apparently traded below $200 Thursday, if only long enough for one lucky investor to get a deal. It was back up almost immediately. (And late word is that a lot of the low-priced sales will be voided.)
I love Apple and have a $300 target that frankly is too low.
But even after a strong recovery, a lot of stocks remained down on what I estimate to be fear-based selling, not reality. I would use this opportunity to buy shares. Three names come to mind.
The market sees a major plunge, aided in part by computer programs designed to protect investors.
Wow! Or, maybe better, Yeeouch!
In the last hour of trading on Thursday, the Dow Jones Industrial Average was down 1,000 points as it fell and kept on falling. Then just 350 points or so after it rallied off the bottom.
It closed near 10,500, off about 380, or a bit more than 3%.
My best guess on what happened is that the selling of the past two days and the first part of Thursday finally took prices on the major indexes low enough to trigger massive program trading.
Rumors on Wall Street say the actor's shares of Priceline.com are paying off handsomely.
Shatner has filmed advertisements for Priceline.com(PCLN) since 1997, and received shares in the company as part of his compensation. We don't know the starting value of the shares he has received over the years, but Priceline has gone from under $10 a decade ago to nearly $250 now.
And the rumor on Wall Street is that Priceline has helped Shatner build his fortune to $600 million, according to Times Online.
The shares retreat from previous gains this year amid talk of financial reform legislation and debt woes in Europe.
By Laurie Kulikowski, TheStreet
Citigroup (C) shares have slumped as weakness in the stock market has conspired with the government's decision to begin selling part of its stake in the bank to knock the shares down as much as 20% from recent highs.
The shares have sunk 14% since April 23, the last trading day before the US Treasury said it would begin selling 20% of the 7.7 billion Citigroup shares it owns in relation to the company's $45 billion bailout. On an intraday basis, using Wednesday's session low of $4.04 and a near-term peak of $5.07 on April 15, the stock was down 20%.
The KBW Bank index (BKX) is down just 5% over the same period. Citigroup's weighting in the index is 7.6%.
The precious metal gains as investors avoid the euro amid concerns about debt in the European Union.
By Alix Steel, TheStreet
Gold was rising today as investors seek safety from the sinking euro, Greece riots and Portugal debt fears.
Gold for June delivery was rising $10.30 to $1,185.30 an ounce at the Comex division of the New York Mercantile Exchange. Gold traded as high as $1,187.30 and as low as $1,173. The U.S. dollar index was rising 0.3% to $84.40 while the euro hit a one-year low, falling 0.5% to $1.27 against the dollar. The spot gold price Thursday was rising over $11, according to Kitco's gold index.
A falling euro is boosting gold prices as investors look for a hard asset that keeps its value. As the debt of European Union nations balloons, investors are speculating that the European Central Bank might have to print money to address the situation.
There are signs that buyers are returning to the market -- and that the downward move is mostly over.
Stocks gapped lower in the opening minutes of trading Wednesday as concerns over the future of the eurozone and the solvency of the southern states lingered.
It was the first two-day drop since early February. The dollar jumped at the expense of the euro, and commodities were clipped.
But then suddenly, when the Dow Industrial Average seemed fated for another triple-digit down day, buyers regrouped and charged. Bears were caught off guard. Large-cap stocks briefly pushed back into positive territory before shares swiveled and moved back into the red. In today's trading, stocks continue to stabilize.
Think all high yield dividend stocks are blue chips in the Dow? Think again! (And know the risks before you buy.)
High-yield dividend stocks were hard to come by in the recession, as some big blue chips slashed their payouts. But now, dividend growth appears to be back.
According to Standard and Poor's, only 48 companies in the S&P 500 decreased their dividend payments during the first quarter of 2010 -- a vast improvement over the record 367 companies that slashed dividends during the same period in 2009 -- adding $6.4 billion in total dividends.
And not all stocks boosting payouts are the blue chips. Some small caps are offering mammoth yields right now -- including one tiny stock with a 12% dividend yield.
The only stocks going up are the ones that have sat around doing nothing all year.
If the market weren't up so much, I have to tell you, we wouldn't care so much about the contagion. If the quarters hadn't been so good, if the stocks hadn't flown when they reported, we would be sitting here feeling smug. Instead, we have to watch the futures get hammered, and we are afraid to bid for anything but Coca-Cola (KO) and PepsiCo (PEP).
I don't blame us. Wednesday was totally discouraging in that the only real buying was short-covering, hence the swift 130-point reversal. We have entered one of those zones where a whisper can take stocks lower, except for those that didn't go up before.
HPQ a good short candidate? Not at the moment.
First let me tell you about my bad experience. I decided to upgrade my computer so I went to Best Buy and purchased a new HP Pavilion Entertainment PC. When I got home I tried to connect it to my old and trusty HP LaserJet III but there was no place to plug in the printer's 25 pin cable so back to Best Buy to get a converter cable to connect to the USB port. I log on and try to print but nothing happens. I call HP customer support to get assistance connecting my HP computer to my HP printer. To me that sounds like a logical step but boy was I wrong.
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[BRIEFING.COM] The S&P 500 settled lower by 0.8% after early strength turned into afternoon weakness.
Today's headline event came in the form of Ben Bernanke's testimony before the Joint Economic Committee. During his remarks, Chairman Bernanke said premature tightening of monetary policy could stall the pace of recovery. This followed weeks of conflicting remarks from FOMC members, which sparked speculation regarding possible changes to the Fed's policy course.
However, ... More
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