Indexes might not be in correction territory, but they're getting closer. Now's the time to consider what moves to make.
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The social-networking company will issue 7.8 million shares priced between $32 and $35 apiece.
LinkedIn, the leading social network for professionals, released the pricing details of its eagerly awaited IPO this morning. The company intends to issue 7.8 million shares under the proposed ticker LNKD at a range of $32 to $35. At the midpoint, the valuation would be $3.3 billion.
But it's a good bet that the opening price will be 30% to 40% higher when the shares hit the market, which will probably be in the next week or so.
Founded in 2003, LinkedIn is a pioneer in Web 2.0. The company is a kind of Rolodex for the 21st century, allowing professionals to network over the Internet without putting up with those goofy family photos and embarrassing comments from ex-girlfriends that can abound on other sites like Facebook and Twitter. LinkedIn is meant to be for professionals first, an important distinction that makes it unique.
LinkedIn's growth rate has been consistently strong. Now the website has more than 100 million members.
The iShares Silver Trust and other commodity-linked exchange-traded funds could see more volatility in coming sessions.
By Don Dion, TheStreet
Here are five ETFs to watch this week.
It was a tough week for commodities as oil, copper, gold and various agricultural products faced heavy selling pressure.
Silver witnessed one of the biggest retreats of all. Prior to last week's selloff, this industry-linked precious metal had been thrust into the spotlight as prices fast approached nominal all-time highs. This dramatic ascension appears to have been stifled, however. In the opening days of May, the physically based SLV suffered a steep decline that resulted in the fund giving back a month's worth of gains.
Sell in May and go away is still the play this week
As predicted here the market moved lower last week. The S&P 500 lost nearly 2% during the period as investors locked in gains from what had been a powerful move higher.
The losses would have been worse had it not been for the national euphoria over the killing of Osama Bin Laden. A strong job report on Friday also helped keep the losses to a minimum.
Without those events stocks were poised to lose 3-4%. Nothing earth shattering there since stocks had moved higher in the previous two weeks. Some profit taking is to be expected.
Given that we only lost about half what I expected I would advise more caution for the week ahead. Small caps will likely lead the way lower making the pick of the ProShares Short Russell 2,000 (RWM) the place to be this week.
While we should be more concerned with Friday's employment figures, the weak dollar and strong euro are still driving this market.
Ouch! The charts of the oils and the industrials look like they are hanging by a thread. The drugs and the utilities, meanwhile, are so overextended that it’s painful to look at them! That was my feeling after scanning the chart book while the oil futures sprung back to life in the early Monday morning hours.
It's a tough moment for the charts of many of the industrials and their derivative commodity plays. But if this is the rolling bull market that we have seen forever, then you want to bet that the correction in the oils and industrials might be nearing its conclusion -- they are so instant -- and that the drugs, the utilities and the like must be sold.
Every weekend when I look at these charts I am always amazed at how the worst of the previous week or two becomes the best. I think it could happen again this week, too. The rotations are that swift and seem to catch so many people unaware. So, what do we watch?
The central bank and the people who run it may not not perfect, but that doesn't mean they're evil.
Misinformation about the Federal Reserve abounds these days. And that misinformation cuts both ways. For every conspiracy theorist who labels the central bank and its chairman Ben Bernanke as the root of all economic evils, there is a brainwashed Fed defender who just doesn't get it.
I don't pretend to be impartial when it comes to the Federal Reserve. I have my list of personal gripes with its policies. But there's one question at the core of most Federal Reserve criticism that spawns nearly all others: Is the Fed evil?
It's important to note that whether or not the Fed makes mistakes isn't the core issue here. The central bank has the potential to harm the economy with its policies, and sometimes it does. That is an indictment not of the institution itself but of the human beings at the helm.
The long-term trend for stocks is positive, but that outlook could change for some sectors if Friday's bounce doesn't find some momentum early next week.
With only one major patent loss ahead, Merck has potential for relatively modest good performance.
After leading BMW and Mercedes in the US since 2000, Lexus is headed for third place this year, analysts say.
So far this year, Lexus has trailed BMW and Mercedes after winning the luxury brand category since 2000. Lexus makes all but one model in Japan, and the earthquake has cut production by half. Lexus is owned by Toyota Motor (TM).
Post continues after this post about Toyota's troubles, including its Lexus unit:
One website reports that Apple could dump Intel chips for those from ARM Holdings by 2013.
SemiAccurate says Apple (AAPL) is going to boot Intel as a chip partner for its laptop line and move to ARM-designed chips around the middle of 2013. "So short story, x86 is history on Apple laptops, or will be in 2-3 years," writes Charlie Demerjian. "In any case, it is a done deal, Intel is out, and Apple chips are in."
Some tech observers say the idea makes sense. Apple's iOS operating system rules the roost at the company, and that already runs on ARM, writes Larry Dignan at ZDNet. Apple already bought ARM chip maker P.A. Semi in 2008 and ARM core experts Intrinsity soon after. (ARM designs chips, and then licenses those designs to other companies that make them.)
Post continues after this analysis of ARM Holdings and the stock:
The top bosses at the nation's largest companies are getting paid more than they were in 2007. Cash bonuses are also increasing.
The recession has clearly faded into ancient history for executives at the largest public companies, who are getting paid more now than in 2007, The Associated Press reports. Using data from a compensation research firm, AP has gathered a list of last year's 50 highest-paid CEOs.
Seven chief executives took home more than $30 million, including salary, perks, bonuses, stock options and other factors. Viacom (VIA) head Philippe Dauman topped the list, with $84.5 million in compensation -- a 149% gain from the year before. Viacom's stock did well last year, rising 46% to end December at an adjusted close of $45.72. Viacom owns MTV, Nickelodeon and Paramount Pictures.
Some of these smaller US companies have seen their share prices more than double this year. With video.
By Jake Lynch, TheStreet
The Russell 2000, the closely followed U.S. small-cap benchmark, reached an all-time high Monday, passing a previous peak reached in 2007.
While earnings at small-cap companies, typically defined as those with a market value of less than $3 billion, have impressed investors in 2011, the economy is showing signs of weakness. Still, the following five small-cap stocks have delivered enormous gains this year, rising between 82% and 126%. Here is a closer look at these high-flying red chips. Some may offer further growth potential in the months ahead.
5. TeleNav (TNAV) offers location-based services, including voice-guided navigation on mobile phones and automobiles. It offers its service through wireless telecom carriers, including Sprint (S) and AT&T (T). The company swung to an adjusted fiscal third-quarter profit of 11 cents a share, exceeding researchers' estimate for a 12 cent loss. Average monthly paid subscriptions increased 15%, sequentially, to more than 22 million. A switch in revenue recognition with partner Ford (F) allowed TeleNav to book $6.6 million of additional revenue during the quarter. Net sales increased 33% during the quarter, beating researchers' consensus expectation by an impressive 5.6%.
Investors have run for the exits this week, and with many major averages near critical support levels, we review two sectors that could determine the path of the overall markets in the weeks ahead.
Some companies in the 2 nations appear to meet the Oracle's criteria for attractive acquisition targets.
By Don Dion, TheStreet
Although he has traditionally focused his attention on opportunities based in the U.S., Warren Buffett appears more than willing to make deals in other corners of the global marketplace as well. In recent months, the investor has spent time traveling abroad to countries including India and South Korea. Reportedly, a major goal of these trips has been to identify large acquisition targets.
This week, Bloomberg pointed out a handful of companies from Brazil and China that appear to meet Buffett's criteria for attractive acquisition targets. Listed among the names are firms including Marcopolo, the largest bus maker in Brazil, and Chinese construction company Lonking.
One common quality seen across these and many of the other companies highlighted by Bloomberg is their focus on the domestic populations of these popular emerging markets. As the economies of Brazil and China continue to grow and expand, the consumers from these nations have become increasingly popular targets for investors.
Sony gets hacked. Cisco restructures again. Federal appeals court rules against whistle-blowers.
5. Sony makes world safe for hackers
For the hackers who haven't figured it out yet, Sony's (SNE) online security code is up, up, down, down, left, right, left, right, triangle, X, start.
We're joking, of course. (Or maybe we're not...?) Regardless, Sony's sure making it look like it's as easy to get a PlayStation 3 user's credit card number and other personal information as it was to get extra lives in Contra about 25 years ago.
If the news stays good and the markets continue to go down, there will be stock bargains galore.
Think about it: We had the possibility of a 10% cut in the price of gasoline; we had one of the most important central banks decide that raising rates again is suicidal; we had General Motors (GM) in a position to pay back the United States within a couple of quarters; AIG (AIG) in a similar position, despite the big loss last night.
We also have the makings of a budget deal that could keep a debt ceiling crisis from happening. We had a major break in the froth, the silver speculation. We had better-than-expected sales from so many retailers. We had a huge decline in mortgage rates that could bring on a level of stability and affordability in housing.
And the one dark spot, a weekly jobless claims number, may not be that daunting given that the Federal Reserve has said it will still use any means necessary to make sure things get better.
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[BRIEFING.COM] The S&P 500 trades higher by 0.9% with one hour remaining in the session. Five of six cyclical sectors enter the last hour of action with gains of at least 1.0% while financials (+0.7%) continue underperforming. Bank of America (BAC 15.99, -0.40) weighs, trading lower by 2.4% after reporting a bottom-line miss on above-consensus revenue.
Elsewhere, all four countercyclical groups trail the broader market. Consumer staples (+0.8%) follow not far behind the ... More
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