If everything goes as planned, this week will be the busiest for initial public offerings since 2000.
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Energy Transfer Partners may run into a problem with growing cash distributions.
The bears probably won't be in hibernation next quarter.
By Evan Niu
The self-proclaimed "global leader in wireless innovation" reported gloomy earnings last night. Net income came in at $329 million, or $0.63 per share, dropping nearly 59% from last year's $797 million. Top-line revenue of $4.2 billion dropped by "only" 10% from the previous year, falling short of the $4.5 billion that Wall Street analysts were looking for. Meanwhile, gross margin took a big hit, falling to 38.7% from 44.5%. If you ask me, the only thing that RIM is leading is its own implosion.
The company shipped 200,000 PlayBooks and 10.6 million BlackBerry phones. The (already reduced) estimates called for 562,000 PlayBooks and 11.8 million BlackBerry phones. The discouraging figures don't paint a pretty picture for the future of the company's QNX platform.
Could a Chinese online shopping site really raise that much in a public offering? It seems to think so.
The company is Beijing Jingdong Century Trading Co., which runs the online shopping site 360buy.com. The business is growing at an insane pace, and Jingdong is now expecting to raise a whopping $4 billion to $5 billion from the IPO, The Wall Street Journal reports.
That would totally blow away the $1.9 million that Google (GOOG) raised in its 2004 IPO.
Brian Lazorishak, who heads the Chase Mid-Cap Growth Fund, discusses some of his best-performing holdings.
By Frank Byrt, TheStreet
This year is the moment of truth for mutual fund managers. As the economy slows and stocks fall, managers' strategies are laid bare, and those who can't make money for investors face the firing squad.
The Legg Mason Value Trust (LMVTX), which beat the S&P 500 Index for a record 15 years under Bill Miller, has slumped 10% this year. Ken Heebner's CGM Focus Fund (CGMFX), which used to gain more in one quarter than most funds did in a year, has dropped twice as much as the Value Trust. Even Fidelity's Contrafund (FCNTX) has declined 1.9%. The Boston mutual fund firm's Harry Lange, the manager of the Magellan Fund, was replaced this week because of poor performance.
Brian Lazorishak of the Chase Mid-Cap Growth Fund (CHAMX) is earning his keep. The mutual fund is in the top 2% of its category in terms of performance this year, with a return of 6%, and in the top 1% over the past 12 months, with a 27% gain, as tracked by Morningstar. The S&P 500 ($INX) is down 4% this year and up 8% over the past 12 months.
Why did the state give the television show a tax credit of up to $420,000?
Taxpayers will foot the bill for as much as $420,000 in production costs from the show's 2009 season, the Star-Ledger reports. This week, the state's Economic Development Authority agreed to give the show a film tax credit.
Bolder actions are needed to stop the slow bleed out of the eurozone. For ideas, the region's leaders are turning to measures the US took in 2008.
The European debt crisis is a festering wound on the face of the global economy. Until it heals, the global recovery, which was so strong in 2009 and early 2010, can't continue. After a handful of rescue packages -- two for Greece, one for Ireland and one for Portugal -- eurozone policymakers just can't draw a line under the problem.
Instead, dithering and a lack of big, bold measures -- like those enacted by President George W. Bush during the worst of the 2008 financial crisis -- have allowed speculators to push the currency union to the edge. They're running a flanking maneuver: While officials struggle to implement a new plan hammered out in July to save Greece, hedge fund types are pressuring too-big-too-fail Italy and Spain by pushing up borrowing costs.
The infection has spread to the banking system, which is having a hard time raising cash. The result is a drop in loan activity as banks, especially those in France, hoard capital in an effort to restore confidence. This, in turn, is pushing Europe ever closer to outright recession. What a mess.
Chart patterns indicate that an upcoming pullback in the tech sector will be well supported.
By Tom Aspray, MoneyShow.com
While the S&P 500 and Spyder Trust (SPY) have failed to surpass the 50% retracement resistance from the May highs, the Nasdaq 100 is a different story. Technology stocks have been getting lots of press lately, and many hope that this sector will help turn the market around.
Though the Nasdaq 100 is made up of both technology and biotech stocks, it is the technology space that has been getting the most attention. A closer look at the market internals for the Nasdaq 100, as well as the key chart points and the sub-industry tech groups suggests that we should get a pullback in the next week or so that will provide a better risk/reward entry level for those who are not already long.
A buyout offer could come soon from a private equity firm, a Chinese Internet giant or one of the biggest names in the US tech sector.
By Jeff Reeves, Editor, InvestorPlace.com
On Sept. 6, Carol Bartz was unceremoniously fired from her post as CEO ofYahoo (YHOO). Now that the market has had almost two weeks to digest the sound bites and debate the tech icon's future, there appears to be a clear focus on who willbuy Yahoo, not who will take over as CEO.
Yahoo, of course, stubbornly refused a $44.6 billion buyout offer from Microsoft (MSFT) in early 2008. The company's current market capitalization is less than half that, at about $18.4 billion. The lower price this time around means a much more interesting group of prospective buyers. (Microsoft owns and publishes MSN Money.)
So who could acquire Yahoo? Here are three front-runners, along with their plans for the company:
These exchange-traded funds, created to give individual investors the same leveraging opportunities that hedge funds have, don't level the playing field -- they distort it.
Typical of what we don't know about these instruments. Typical of the confidence that securities people place in the way ETFs work versus the actual securities they are supposed to represent.
If a major company like UBS, with all sorts of risk controls, couldn't see through what a trader might have been doing as he flitted back and forth through the ETFs to the underlying stocks to the options market, are we really supposed to be able to trust these kinds of desks when they tell us not to worry, that ETFs aren't more powerful than the stocks?
Should we really trust them when they make their assurances that ETFs, particularly the double and triple ETFs, don't affect the markets in bizarre and difficult-to-understand ways, including exacerbating trends that shouldn't be exacerbated?
Despite the fragile economy, Cummins forecasts a 14% compound annual growth rate.
There is more to the company's warning than meets the eye.
By Rick Aristotle Munarriz
Investors shouldn't be surprised by Netflix (NFLX) hosing down its domestic subscriber targets this morning.
Any rational person could see that the company and blinders-donning analysts were underestimating the consumer resentment spurred by Netflix's decision to begin charging subscribers on unlimited DVD plans for streaming access. That move resulted in a price increase of as much as 60% for those wanting to receive optical discs in the mail and stream from the dot-com giant's growing digital catalog.
The outcome isn't a shocker. Netflix was targeting 25 million domestic subscribers by the end of the third quarter two months ago. Now it sees just 24 million accounts in this country when its quarter comes to a close in two weeks.
Struggling to compete with Wal-Mart and Amazon, the toy retailer pins its strategy on exclusive deals.
Toys are a historically low-margin business, and there isn't much room for a specialty retailer when behemoths like Wal-Mart can undercut prices. Yet Toys "R" Us has been able to increase market share.
How has Toys "R" Us survived? By doing a little gambling. The company tries to predict the holiday's hottest sellers and loads up ahead of time, according to MarketWatch. It worked in 2009, when Toys "R" Us had the Zhu Zhu Pets hamsters when other stores ran out.
Fat cats go free, politicians don't get it, and credit is still frozen after one of the biggest market shocks in history.
By Jeff Reeves, InvestorPlace.com
On Sept. 15, 2008, the world learned a debt-riddled Lehman Brothers would be no more. The Dow dropped more than 500 points that day, and a month later the index was off about 25%.
And that was only the beginning.
So what have we learned exactly three years after this market-shaking event? Unfortunately, almost nothing.
No cash? No problem. The newest tenant at The Donald's Wall Street skyscraper is a precious-metals dealer.
The newest tenant at Trump's 40 Wall Street skyscraper is a precious-metals dealer, and Trump has agreed to accept the tenant's $176,000 security deposit in gold. The dealer, Apmex, will give Trump three 32-ounce bars of gold, each about the size of a television remote control, The Wall Street Journal reported.
It's the first time Trump has agreed to gold instead of cash as a lease deposit. "I figured Trump is a smart guy, and he'll realize that taking gold is a better idea than taking cash," said the chief executive of Apmex.
The daily and weekly charts for Freeport McMoRan (FCX) show a flag formation, and a proven technical measure indicates that now is a low-risk time to buy the mining stock.
By Tom Aspray, MoneyShow.com
While fears about a new recession have grown, copper prices have dropped, and the Comex copper futures have declined by almost 16% from the early-August highs. The price of copper is now not far above the highs from early 2010, which is the next key support level.
Over the past few months, reports suggest that the Chinese are once again buying copper after cutting back their purchases early in the year. This week, copper prices in Shanghai have declined over European debt concerns and the belief that a lack of financing would limit new projects.
The clouded outlook for copper prices has certainly put pressure on Freeport McMoRan Copper & Gold, Inc. (FCX), which is down sharply from the July highs. The weekly and daily charts suggest that FCX is forming a bull flag formation, and despite the doom and gloom, it may be very close to a bottom.
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[BRIEFING.COM] The stock market began the last week of July on a quiet note with the S&P 500 ending less than a point above its flat line. Like the benchmark index, the Dow Jones Industrial Average (+0.1%) also posted a slim gain, while the Russell 2000 (-0.5%) and Nasdaq Composite (-0.1%) lagged throughout the session.
The major averages were awakened from their weekend slumber with an opening retreat that pressured the S&P 500 below its 20-day moving average (1975). Even though ... More
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