Sell-off may continue, but don't panic
Sell-off may continue, but don't panic

Experts say that the recent market action feels 'more like a repositioning,' and that it won't stop anytime soon.

VIDEO ON MSN MONEY

The company complains after the son of Florida State's football coach is televised wearing -- gasp -- Under Armour.

By MSN Money Partner 6 hours ago
© Stephen M. Dowell/Orlando Sentinel/MCT via Getty Images
FSU head coach Jimbo Fisher, left, reaches to hug his son, EthanBy Sharon Terlep and Andrew Beaton, The Wall Street Journal

Minutes after his team had trounced rival Miami last November, Florida State Football coach Jimbo Fisher got a pleasant surprise. His 9-year-old son Ethan ran up to his dad on the field and leapt into his arms.


Their embrace, captured by ABC cameras, struck most viewers as a heartwarming moment -- especially given Ethan's (pictured) widely reported struggle with Fanconi anemia, a rare and serious genetic disease. But a different reaction emerged from one camp: Nike (NKE). 


In an email sent hours after the Nov. 2 game, Mark Dupes, who as Nike's assistant director for football sports marketing helps oversee the company's $4.2 million licensing and apparel deal with the school, congratulated Florida State administrators on the win. "Hey guys great win and game! Appreciate everything you all do for us! Keep it rolling."


Then Dupes turned to another matter: the sweatshirt Ethan wore during that on-field embrace. 

 
Tags: NKEUA

Experts say that the recent market action feels 'more like a repositioning' and that it won't stop anytime soon.

By MSN Money Partner 7 hours ago
Caption: Traders work on the floor of the New York Stock Exchange
Credit: © Spencer Platt/Getty ImagesBy Bruno J. Navarro, CNBC

Stocks -- already seeing their worst week this year -- could see a continued selloff in the coming days, O'Neil Securities Director Kenny Polcari said Friday.


For the Standard & Poor's 500 Index ($INX), "1,910 is going to be the 100-day moving average. That's going to be where at least it's stop and look and feel if it has anything there," he said on CNBC's "Halftime Report."


The next level of support is 1,857, its 200-day moving average, Polcari added.


"I don't think it's going to, but clearly until it starts to build a base somewhere in here, until the market gets over the erratic behavior that it had yesterday, it's going to continue to flounder," he said.

 

Here are 4 things to know about the developer of camera systems.

By MSN Money Partner 7 hours ago
Credit: © Richard Drew/AP

Caption; Opening bell ceremonies marking Mobileye’s IPO on the New York Stock Exchange, Friday, Aug. 1, 2014.By Angela Johnson, MarketWatch

Shares of Mobileye NV (MBLY) soared on their first day of trading Friday after the company priced its initial public offering above the top of its indicated price range.


The Israeli developer of camera systems that help cars detect other vehicles, pedestrians and roadway markings sold 35.6 million shares at $25 a share. Shares were offered in a range of $21 to $23. If the overallotment option of 5.3 million is exercised, the offering could raise $1.02 billion.


The strong demand for the offering comes despite the steepest one-day drop in the Nasdaq Composite Index ($COMPX) on Thursday since April 10.


Here are four things to know about the company:

 

The company alters its pricing more in a few hours than Best Buy and Wal-Mart do over an entire month.

By MSN Money Partner 8 hours ago
Credit: © Armin Weigel/dpa/Corbis

Caption: The Amazon.com home page seen on a tabletBy Hayley Peterson, Business Insider

Amazon (AMZN) changes prices on its millions of products throughout the day.


Sometimes, that means altering the price of a single item several times over the course of 24 hours, according to a new report. 


The report cited one case where the e-commerce giant changed the price of a wireless internet router eight times in one day. The price of the router fluctuated between $185 and $200, as shown in the graph below.


Amazon bases many of its price changes on the actions of competitors. 

 

Growing numbers of former politicians and staffers are taking up the industry's cause.

By MSN Money Partner 8 hours ago
Caption: Marijuana at a dispensary and grow operation in northeast Denver. Colo.
Credit: © Ed Andrieski/APBy Daniel Libit, CNBC

Big Oil has one. Big Telecom has one. Big Pharma has one. 


If you're an industry with a true foothold in Washington -- a "Big" lobby, in other words -- you've got to have a "revolving door."


And increasingly, it seems like the $2.5 billion-a-year (and growing) American cannabis trade is building its own -- let's call it a "revolving hotbox," to use the pot smoker's parlance -- attracting a growing number of ex-politicians and former political staffers to the industry's cause.


Earlier this summer, Jack Lavin, former chief of staff to Illinois Gov. Pat Quinn, resigned to become a lobbyist. One of his first three clients was a marijuana start-up company, which hired Lavin specifically to lobby the governor's office.

 

The industrials sector is seeing share prices down 10% or more from their highs. That's intriguing, the CNBC host says.

By MSN Money Partner 8 hours ago
Credit: © Bob Bird/AP

Caption: The Dow Chemical Co. Union Carbide plant on Blaine Island in South Charleston, W.Va. By Lee Brodie, CNBC

Typically Jim Cramer likes to leverage weakness and scale into new positions when stocks sell off. But not right now, save for this stock.


"I look at every decline as a source of better prices," Cramer said, and Thursday's selloff, in which the Dow Jones Industrial Average ($INDU) tumbled by triple digits, is no different. The Dow continued to fall Friday.


"Whenever my charitable trust has cash, which we do now, Stephanie Link, my co-portfolio manager and I look for something to buy. The problem is buying opportunities are mighty hard to find right now."

 
Tags: AAPLDOWFB

The ice cream maker's support for labeling modified foods pits it against some of the world's biggest companies, including its own parent.

By MSN Money Partner 8 hours ago
Caption: Ben & Jerry's ice cream sign at the visitors center
Credit: © Kristoffer Tripplaar/AlamyBy Matthew Boyle, Businessweek

In early May, Unilever (UL) Chief Executive Officer Paul Polman paid a visit to the headquarters of its subsidiary Ben & Jerry's in South Burlington, Vt., meeting with about 100 employees to share his views on deforestation, farming, and food made with ingredients from genetically modified organisms. 


That night, Polman had dinner and ice cream with Vermont Governor Peter Shumlin and Ben & Jerry's CEO Jostein Solheim. 


Two days later, with Solheim at his side, Shumlin signed the nation's first law requiring labeling of foods made with GMO ingredients.


Ben & Jerry’s support of the law -- a swirl of savvy public relations, financial backing, and grass-roots activism -- pits the ice cream maker against the world's biggest food companies, including its own corporate parent. 

 

Your next chance will be after a new batch of complacent buyers gets blown away.

By Jim Cramer 8 hours ago

Traders work the floor of the New York Stock Exchange on July 30, 2014 © John Moore/Getty ImagesAt some point we settle in. The sellers say why am I selling. The buyers say enough is enough, I am doing some buying. At some point the events of Ukraine get factored in, the confusing nature of bonds is accepted, and the upside shines through.


It's difficult now because we are so very quick to forget the painful times. It's been placid and sanguine. There hasn't been much of a reason to sell, and sellers have been unrewarded. It is their turn. You have to wait them out on individual stocks, though, not on the S&P, because many of the people selling S&P futures have been negative all along and now feel vindicated and empowered.


There are always schools of thought about how to handle sell-offs. Some people want to buy the stocks that have held up the best, betting that they are the strongest and they will rebound fastest. I have not historically been of that school, because if you are wrong about the selling, then you are in with a lot of weak hands playing that game.

 

That figure is sure to keep bullish investors happy, and means that the automaker is seeing no ease in demand for the Model S.

By MSN Money Partner 9 hours ago
File photo of a Tesla Model S outside the Tesla factory in Fremont, Calif. (© Paul Sakuma/AP)
 By Ashlee Vance, Businessweek

"Processed ore from mines will enter by railcar on one side and finished battery packs will exit on the other."


That's Elon Musk writing to the shareholders of Tesla Motors (TSLA) on Thursday in a letter (PDF) detailing the company's second quarter results and its construction of a new battery plant.


As expected, the plant will be built in conjunction with Panasonic; part of the facility's foundation has already gone up in Nevada, but the company is still looking at other states as site possibilities.


Tesla will oversee the construction of the factory and run it, while Panasonic will invest in the machinery and supply its lithium-ion battery cells.

 
Tags: TSLA

Growth came in below expectations, but that's just evidence of how far the economy has come.

By MSN Money Partner 9 hours ago
Image: Office workers © ColorBlind Images/Blend Images/Corbis​By Chris Matthews, Fortune.com

What a difference a couple years can make.


Friday's jobs report was a slight miss, with the Labor Department announcing that the U.S. economy added 209,000 jobs in July and the unemployment rate ticking up to 6.2 percent. 


But if this report is what constitutes disappointing, it only goes to show how far the labor market has come in the past two years.


Back in late 2012, when the Federal Reserve was just launching its third, open-ended bond buying program (known as quantitative easing), Chicago Fed President Charles Evans argued that the Fed should keep its foot on the monetary policy pedal until U.S. employers were adding 200,000 jobs per month on a regular basis -- at least for two straight quarters. 

 

Forget all the complaining about how the company is destroying shareholder value. CEO Jeff Bezos is a unique visionary.

By MSN Money Partner 9 hours ago
Credit: © Tim Shaffer/Reuters
Caption: A worker loads a shipment of boxes at an Amazon.com warehouse facilityBy Michael Brush, MarketWatch

An all-time classic market theme is investing in public companies run by their founders, because such stocks regularly outperform.


But this approach also creates a market dynamic that can set up great contrarian plays. That's true of Amazon.com (AMZN) right now.


Here's the dynamic I am talking about. Founders don't mind sacrificing profits near-term to invest in long-term growth. Wall Street, meanwhile, only thinks short term.


The upshot: These companies are prone to coming up short on profits, which hammers their stocks -- giving you a chance to buy a great company at a discount.


That's the set up at Amazon, following the stock's recent downturn on surprisingly weak guidance for the third quarter when -- you guessed it -- heavy investment will eat into profit margins.

 
Tags: AMZN

The cash and debt deal would combine the two largest manufacturers of lottery and gambling equipment.

By TheStreet.com Staff 9 hours ago

A Bally Technologies' slot machine © Bobby Yip/ReutersBy Lou Whiteman, The Deal


Scientific Games (SGMS) said Friday that it would acquire rival Bally Technologies (BYI) in a $5.07 billion cash and assumed debt deal that would combine two large manufacturers of lottery and gambling equipment.


Terms of the deal call for New York-based Scientific Games to pay $83.30 in cash for Bally, a premium of 38 percent to the company's Thursday close, for total equity consideration of $3.27 billion. Scientific Games will also assume and refinance about $1.8 billion in existing Bally net debt.


Las Vegas-based Bally is one of the most celebrated names in gambling equipment, a maker of electronic and table games, systems and technologies for casinos and other users. Scientific Games, maker of lottery games, sports betting technology and social gaming products, said the deal would expand its portfolio of products to include a leading casino management systems and table products including automatic shufflers, proprietary games and electronic table systems.

 

The tame wage and inflation numbers will take some pressure off Janet Yellen and her colleagues.

By MSN Money Partner 10 hours ago
Construction workers © Seth Joel, PhotographerBy Jon Hilsenrath, The Wall Street Journal

Friday's employment and income reports pointed to steady U.S. job growth and firming but low inflation -- trends that are likely to keep the Federal Reserve on course to end its bond-purchase program in October and remain patient before raising short-term interest rates.


The July jobs data weren't as robust as in June, but included lots of encouraging news about the labor market's progress. 


Payroll growth has averaged 244,000 over the past six months, the best performance over that stretch since early 2006. More impressively there have been steady gains of six straight months in excess of 200,000 jobs added, something that hasn't happened since 1997.


The unemployment rate went up to 6.2 percent from 6.1 percent, but its improvement from 7.3 percent a year ago is nonetheless striking. Moreover, an underlying detail of the government's July survey of households was encouraging. 

 

Investors are anxious to see if hiring can maintain its strong pace in the second half of the year.

By MSN Money Partner Thu 4:24 PM
By Ben Leubsdorf, The Wall Street Journal

The first half of 2014 saw the U.S. economy's strongest stretch of hiring since early 2006

The jobless rate fell to 6.1 percent in June from 7.5 percent a year earlier, its fastest one-year decline since October 1984, and nonfarm employers added a seasonally adjusted 288,000 jobs.

Can hiring keep up its strong pace in the second half of the year? We'll get our first clue Friday at 8:30 a.m. EDT, when the Labor Department releases its jobs report for July


Economists surveyed by The Wall Street Journal expect payrolls to rise by 230,000 and the unemployment rate to remain at 6.1 percent.


Here are a few things to watch:

 

Andrew Mason's new Detour could be one of the most-watched comeback attempts in recent Silicon Valley history.

By MSN Money Partner Thu 3:49 PM
Credit: Johannes Simon/Getty Images
Caption: Andrew Mason, CEO of GrouponBy Brad Stone, Businessweek

Andrew Mason (pictured) is walking with a reporter amid the seagulls on San Francisco's Fisherman's Wharf, using his iPhone to play an audio walking tour. 


As he approaches the giant hoists with which local anglers move their daily catch to shore, the voice of a local fisherman named Candy pipes up on the recording to describe the scene ahead: "If you see any boats unloading, look for sea lions hanging nearby, waiting for the fish receivers to throw them scraps." 


The recording is one of the offerings from Mason's latest startup, Detour, which he is trying to build into a central repository for a new kind of GPS-based neighborhood walking tour. 

 

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[BRIEFING.COM] The stock market finished a down week on a cautious note with small caps leading the retreat. The Russell 2000 lost 0.5%, widening its weekly decline to 2.6%, while the S&P 500 shed 0.3%. The benchmark index ended the week lower by 2.7%.

This morning, the market was provided a basis to rebound with the July employment report, which was just right for the policy doves (209K versus Briefing.com consensus 220K). It showed payroll growth that was weaker than expected, ... More


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