Geopolitical crises are taking a toll on stocks as we head into the seasonally weak month of August.
- Moody's: RadioShack is running out of cash
The retailer may not have a financial cushion to fund its turnaround plan.
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The family that controls the iconic property has filed tentative plans for a publicly traded company.
The Malkin family, which controls the property, has filed plans with regulators for a publicly traded company that includes the building, The New York Times reports.
The filing (which you can see here) doesn't say a whole lot. It refers to a company called Empire State Building Associates, and says that the Malkin family is working to include the company in a new real estate investment trust, or REIT.
Shares of the luxury retailer tank after it gives disappointing guidance for the current quarter.
Updated: 6:27 p.m. ET
Shares of Tiffany & Co. (TIF), a name synonymous with luxury, slumped Tuesday after the company spooked Wall Street with talk of "continued short-term economic challenges and uncertainties."
The stock was down 8.7% to $67.22 after Tiffany gave disappointing fourth-quarter guidance of $1.48 to $1.58 a share in earnings, way below the $1.63 analysts expected.
Europe's debt-tangle could spread to the stronger French and German economies.
JPMorgan Chase's (JPM) stock is caught up in the undercurrent that is dragging down share prices of all financial sector firms. The bank's shares are trading around $29 -- lows the stock hasn't seen since early 2009. Clearly the fact that the bank surpassed rival Bank of America (BAC) to become the largest in the U.S. in terms of total assets last quarter did not help its stock much.
In view of the weak global economic conditions -- primarily escalating debt in Europe -- and the string of lawsuits concerning the bank, we reviewed our analysis for JPMorgan and revised our price estimate for its stock from $45 to $39.
Central European Distribution has seen plenty of interest this year -- but its businesses remain troubled.
Being right for the wrong reasons
By Morgan Housel
In December 2007, I wrote an article titled "The Impending Destruction of the U.S. Economy." It was one of the more popular articles I've written for The Motley Fool. Readers cheered along with its message. It received almost no pushback or rebuttals -- a rarity. I still get the occasional laudatory email to this day.
And it was almost entirely wrong.
The article was straightforward: The economy was buried in debt, and the chicken was coming home to roost. That part was right, and late 2007 indeed marked the beginning of a debt-fueled recession that lingers today.
Short-term concerns are creating long-term value for this maker of high-tech controller chips.
I think the critical market factors that are needed to drive growth at Marvell Technology Group (MRVL) in 2012 will materialize and be solid throughout the year.
If I'm right in this assessment, I think Wall Street will wake up to the value of the story sometime during the next six to 12 months.
The glass-display maker said a major customer will not honor its contract for the fourth quarter.
The company was forced to lower its fourth-quarter profit estimates after a major customer said it wasn't going to buy as many glass displays as it had promised. Now, Corning has cut its production outlook for the glass it makes for LCD displays.
The company's main problem is that there's too much supply. Corning tried to address that by cutting its LCD glass prices, but that wasn't enough to keep its major customer on board.
HP and RIM are upgraded, while Dillard's is downgraded. Boeing is initiated with a 'buy.'
As the nation's third-largest airline, American Airlines, and its parent company AMR (AMR) filed for bankruptcy protection Tuesday, the much smaller US Airways (LCC) was upgraded to "neutral" from "sell" at Citigroup.
Meanwhile, Hewlett-Packard (HPQ) was upgraded to "outperform" from "sector perform" at RBC Capital. And after being downgraded Monday, Research In Motion (RIMM) was upgraded to "market perform" from "underperform" at Bernstein.
Strong Black Friday sales recharged the sector. These three stocks have big upside potential if the rally continues.
By Tom Aspray, MoneyShow.com
The major averages closed last week just above the key 61.8% Fibonacci support before rocketing to the upside on Monday, spurred on by much-better-than-expected Black Friday shopping.
Over the past several months, many economists had painted a bleak outlook for consumer spending. For example, in late September, the chief U.S. economist at Mizuho Securities, Steven Ricchiuto, said, "What you’re basically getting is a scene where consumers are losing momentum, they’re losing momentum on income, and as a result of that, they’re slowing down on spending."
The model of hub-and-spoke legacy carriers has proved difficult to perpetuate.
By Jeff Reeves, InvestorPlace.com
AMR Corp. (AMR), the parent of American Airlines, announced Tuesday that it will file for bankruptcy protection. Crippling debt, labor issues and higher fuel prices have clipped the company's wings in recent years.
So what does this mean for consumers? Not a whole heck of a lot. American and its partners will keep flying as usual, and day-to-day operations will be unaffected.
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Welcome to the new Top Stocks. Today we're relaunching the site with a new look, new writers and a new emphasis on connecting with our readers.
We've added dozens of new voices, including that of Gene Marcial, who is bring his must-read Inside Wall Street column (previously a staple of BusinessWeek magazine) to Top Stocks exclusively twice a week. Along with Gene, Top Stocks now boasts some of the top investing columnists on the Web, including Jim Jubak, Jim Cramer, Kim Peterson and Anthony Mirhaydari.
Until we see deep-pocketed institutional buyers snapping up European bonds, we'll remain in market purgatory. Unfortunately, it's tough to see such a scenario.
We need more Jon Corzines.
That's the only way to put it when you look at these bond auctions in Europe. Italy prices some bonds at 7.8%, and we need Corzine in there snapping them up for MF Global, with leverage. We need someone showing people it is a good bet and putting some flex behind the muscle.
Unfortunately, MF Global went bankrupt doing so. Instead we have the Italian people stepping up and getting a decent return on their money as part of a 'Buy Government Bonds' ploy by the Italian government. An individual sucker is born every minute. We need some more institutional suckers now.
Shares of the tech giant are ridiculously cheap.
No one is sure why Apple (AAPL) shares are so cheap. The stock's price-to-earnings ratio is 13.14 (on a trailing basis) -- near the lowest level in the past five years and less than the average for the S&P 500, which is 19.
During that same time period, as Apple changed the world with the iPod, iPhone and iPad, shares have soared more than 300%. And Wall Street analysts think the good times aren't going to end anytime soon. They have an average price target of $505.94. The high estimate is $700.
With the high-stakes drama in Europe, investors looking for the traditional end-of-year rally may find hopes dashed this time around.
The Standard & Poor's 500 index ($INX) usually gains about 1.5%, Dow Jones reports. Investors are reworking their portfolios, feeling good about the holidays and looking forward to the new year.
But this December could well be a little darker.
A share buyback and a stake by Buffett are among the reasons to get charged up over this stock.
By Nicholas Vardy, Bull Market Alert
Serving approximately 22,000 financial institutions, think of MasterCard (MA) as a financial toll road, making its money on each of the transactions it processes. In doing so, MasterCard racks up $545 billion in transactions each year.
Even with the U.S. economy in the doldrums, MasterCard has been making a mint from the global trend toward a switch to cashless payments — whether using credit cards or debit cards.
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[BRIEFING.COM] The stock market punctuated July with a broad-based retreat that sent the S&P 500 lower by 2.0% with all ten sectors ending in the red. The benchmark index posted a monthly decline of 1.5%, while the Russell 2000 (-2.3%) underperformed to end the month lower by 6.1%.
To get a better feel for what led to today's retreat, we'd like to look back to Wednesday, when the market had ample reason to rally, but did not. Instead, it ended basically flat after a sloppy day of ... More
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