Stocks should be crushed by global turmoil, Jim Cramer says. Instead, they're doing fine.
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The organization has lost $5.1 billion in the past year and can't make an annual $5.5 billion payment due Friday.
The service said this week that it lost $5.1 billion in the past year. And that's after a prolonged cost-cutting effort that eliminated 130,000 jobs and shuttered smaller post offices.
The company is reportedly allowing only employees into the facilities at some New York cafes.
The company is getting a little tired of that in New York, according to news reports. So it's begun closing off some restrooms to everyone but employees.
Forget the major players for now and turn your attention to the less glamorous parts of this energy sector.
By Gene Marcial
Oil is hardly considered black gold anymore, with crude prices no longer shooting up into the stratosphere. But investors shouldn't give up on oil because some energy-related stocks are becoming more attractive even as Wall Street is shifting its focus away from the industry.
Forget the major oil exploration and production companies such as ExxonMobil (XOM) or Chevron (CVX) for a while and turn your attention to the less glamorous parts of the business that aren't on the radar of most investors, large and small. Companies that service and provide supplies and all types of support to the giant oil producers are the alluring hidden plays that deserve attention.
The bank says it's aiming for $2 billion in ongoing efficiency savings annually.
By Shanthi Bharatwaj, TheStreet
The details are still being worked out, and the final number could be higher. People familiar with the staffing plans also noted that some of the actions have already been communicated and are a result of re-engineering and divestitures.
The computer maker has tried numerous turnaround strategies, but nothing seems to be sticking.
Dell (DELL) CEO Michael Dell has been trying to figure out what to do with the company he co-founded ever since he returned as captain of the ship in 2007. His ideas seem not to be working, as evidenced by Tuesday's disappointing earnings.
First he wanted to win over consumers with snazzy product designs like Apple (AAPL). "We are kind of in the fashion business," he told the Knowledge@Wharton website, run by the University of Pennsylvania's business school, in 2007. "We have been putting quite a bit more energy into this. It will be reflected in future products."
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.
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[BRIEFING.COM] Not much change in the major averages as they remain in the lower half of today's trading range. The S&P 500 holds a loss of 0.6% with eight sectors in the red.
The discretionary sector (-1.2%) tumbled to the bottom of the leaderboard at the start of the session and has not been able to put together any sort of a rebound yet. Similarly, Amazon.com (AMZN 322.92, -35.68) remains not far above its opening low. Given the weakness in a major retailer, the SPDR ... More
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