Stocks are hot again, but as in 2000, not all of them are reaping the benefits.
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The mounting bad news means we can't rule out a repeat of last week's brutal BP-inspired stock market decline.
By Jim Cramer, TheStreet
The math on this BP (BP) deal is starting to make sense. If you are blowing $500,000 a day on an oil rig, there had better be something like 50,000 to 60,000 barrels a day spewing out of it, or else it wouldn't be worth the money.
I was always skeptical of the initial reports of the spill, because if there were really just a couple of thousand barrels a day leaking out of a big hole in the ground that they spent a fortune drilling, then what kind of risk-reward was that? If it was only spewing 1,500 barrels -- heck, how about 3,000 or 5,000? -- you've got a losing proposition on your hands.
Now we are getting closer to the truth. This well, perhaps one of the greatest finds in history, was a terrific bargain for the company, despite the expense of the Transocean rig. It was such a bargain that you have to wonder why in heck would BP stint on anything? It should have gone full-out deluxe. It obviously didn't.
The tide is running against Germany's chancellor, and a key vote is coming up.
The government of German Chancellor Angela Merkel faces a critical vote on June 30. If it loses the vote, the country will be plunged into new elections just as German opposition to the euro debt bailout is near a peak.
There's some chance that a government opposed to bailouts for Greece, Spain, and Portugal could win those elections. And an even better chance that any Merkel-led government that survived would be much weaker.
That could well send the eurozone back into crisis. (I'm no fan of the Merkel government or its policy of budget cuts for the eurozone's key economy, but I can't see how a weaker Merkel government or a coalition opposed to Germany's contributing to fix the euro debt crisis would help. For more on Merkel's proposed budget cuts, see this post).
Things don't go well on the first day of pre-orders for Apple's new iPhone 4.
Updated at 12:30 p.m.
Tuesday was not a good day for iPhone fans.
People trying to pre-order Apple's (AAPL) new iPhone 4 ran into one problem after another with AT&T's online ordering system, leading AT&T to suspend the program altogether.
Apple was able to get pre-orders for 600,000 new iPhones, but admitted that many customers were turned away or abandoned the process altogether. Apple has apologized for the problems.
Americans are hot for high-tech lawn mowers that are glitzier than some cars.
Well, look at that. Deere (DE) shares are up 3.2% Tuesday. Could it be because "super mowers" are the next big thing?
Deere is seeing an unexpected jump in mower sales this year, The Wall Street Journal reports. Even though the economy is still recovering, some people are apparently crazy about premium riding mowers with more bells and whistles than some cars.
"Sun shades, iPod compartments, cruise control, chrome hub caps and even alternative fuels are all part of the mower mania," writes Gwendolyn Bounds.
Tesla Motors bumps up its share offering -- and now expects to raise $178 million.
Tesla Motors is very optimistic about its upcoming initial public offering.
When the electric-car maker first set its sights on going to market, it was hoping to raise $100 million. But on Tuesday, the company uppedthe shares it will offer to 11.1 million at between $14 and $16 a share -- bringing the total raised to a cool $178 million.
Is Tesla a little too excited here? Or is the market that enthusiastic about a company that makes a $109,000 luxury car?
The company's success is sucking the life out of other tech stocks.
By Scott Moritz, TheStreet
Apple's (AAPL) winning streak has been good for its investors and good for Apple, but seldom has a tech success shared so little wealth with the rest of the sector.
Call it hardball or capitalism in its purest form, but Apple's autocratic approach to business and the current sway its products have in the market have been nothing but punishment for other players.
Sure, to the winner go the spoils and all that -- Apple shares are up ten-fold in the past 10 years. But unlike past stock rockets riding surging tech trends, Apple's rise has not been particularly uplifting for investors outside Apple.
Analysts rank these stocks at the top of their industries, and some are trading at substantial discounts.
By Jake Lynch, TheStreet
The selloff has put certain stocks on sale.
The S&P 500 Index ($INX) has slumped 10% from a 19-month high in April. And Greece's debt woes helped sink U.S. stocks again yesterday after they rebounded earlier in the session. Moody's downgraded Greece's credit rating by four levels to junk status.
Investors should consider the following companies, each of which ranks as analysts' favorite pick within its respective sector. Euro-region pessimism presents an opportunity to bargain-hunt in U.S. markets.
The Agricultural Bank of China will be the largest offering in history, but here's why it's a bad buy for U.S. investors
On Thursday, the Hong Kong stock exchange approved Agricultural Bank of China Ltd.’s application for a $20 billion to $30 billion initial public offering. Hong Kong’s approval now makes the Chinese bank’s IPO a virtual certainty, and the stock could begin trading on both the Hong Kong and Shanghai stock exchanges by mid-July. The deal would represent the world’s largest-ever IPO.
I understand how hungry investors are for picks in China right now, as 2010 has been less than fruitful for the country’s equity markets after a red-hot 2009. The Shanghai Composite Index is down nearly 22% year to date. So investors should rejoice over the opportunity created by the Agricultural Bank of China IPO, right? Wrong.
If Congress hobbles U.S. investment banks, Deutsche Bank and Barclays will be the big winners.
By Jim Cramer, TheStreet
Just go buy Deutsche Bank (DB). Just go buy Barclays (BCS). If you really and truly believe that our investment banks will not be able to offer hedging and foreign exchange protection on bonds, if you really think that we are going to wipe out investment banking competitiveness at the altar of some Arkansas senator's desire to raise less corn and more hell, William Jennings Bryan-style, then just go buy the winners.
Deutsche is a well-run bank. It is in the strongest country in Europe with a healthy stock market that's barely down. Barclays got the good part of Lehman and is making real strides in the investment banking business without financial regulation.
These two banks stand to emerge as gigantic winners off of financial regulatory reform, if you are to believe the stories -- which I don't. If the stories were true, these two stocks would be much higher. But you know what? As the late great Sam Cooke crooned, "Don't fight the feeling."
Despite starting a craft beer craze, a 2 million barrel threshold could cost brewer Boston Beer its status
In the business world, there’s rarely a thing as growing too big. But unfortunately for Sam Adams brewer Boston Beer (SAM), the price of success could be higher costs -- and the loss of its label as an "artisan" craft beer.
That’s not to say a cold bottle of Sam Adams Summer Ale will taste any different to consumers. But according to the Brewers Association," artisan" brewers include small outfits that put out less than 2 million barrels of suds a year. That means the brewer that almost single-handedly sparked interest in smaller batch brews with more flavor could be pushed into the same category as the big beer vendors like Anheuser Buch Inbev (BUD) and Molson Coors (TAP).
Trading commission approves plan, Cantor Fitzgerald decision due by June 28.
The Commodity Futures Trading Commission announced Monday that the terms and conditions of Media Derivatives' proposed exchange didn't violate any regulations.
The trading was approved with a 3-2 vote.
Stocks have whipped around a narrow range -- but that's not necessarily bad.
Stocks refuse to give in but they have been unable to move out of the danger zone either. The U.S. stock market could still swing either way.
Take a look at the New York Stock Exchange Composite Index, for example. At the beginning of last week, the index fell through its February low, threatening to break through that level of support and turn a correction into something worse.
But by the end of the week, the index had moved back above the February low and looked like it was trying to make a bottom.
Feeling the heat from rivals like McDonald's, Starbucks finally opens up its network.
Starbucks (SBUX) is finally loosening up its Wi-Fi rules, and will soon allow anyone to connect to its network for free.
It's about time. The company had a ridiculous approach to Wi-Fi in the past, requiring customers to buy a Starbucks loyalty card, put money on it, register it and periodically use it. After all that, you get two hours of Wi-Fi a day (any more than that would cost you).
People didn't like it. And Starbucks is feeling the pressure from the free Wi-Fi offered at McDonald's (MCD) and other coffee shops. So, starting July 1, Starbucks will stop splitting hairs and open its Wi-Fi at 6,700 locations.
Expect to see deflating prices in the U.S. this week, while in BRIC nations runaway economic growth continues to spark widespread price increases
There's a lot of talk about whether the recovery will stall or continue building momentum. Well we could get a very clear picture this week since the big economic news will likely be the May price reports. I'm expecting to see signs of deflation across the board -- which could take some of the wind out of consumers' sails.
Here's the news to look for:
- Tuesday, June 15: May Import Prices. Expected decline of -1.5%.
- Wednesday, June 16: May Producer Prices. Expected decline of -0.5%.
- Thursday, June 17: May Consumer Prices. Expected decline of -0.2%.
Concerns about cold weather in Brazil and a bean shortage are driving prices.
An early cold snap in Brazil has traders worried that some of the coffee bean crop there could be damaged, according to the AssociatedPress. Those concerns pushed up coffee prices for July delivery to as high as $1.49 a pound.
The continued rise in coffee prices could be worrisome in the long term for Starbucks (SBUX) and Green Mountain CoffeeRoasters (GMCR), analysts say. Could we eventually see Starbucks prices get even higher?
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For years, Todd Mills pushed Frito-Lay to make taco shells from Doritos. He died from a brain tumor on Thanksgiving.
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[BRIEFING.COM] The S&P 500 shed 0.1%, registering its fourth consecutive decline. Today's session proved to be a bit of a roller coaster ride for stocks as the S&P 500 opened in the red, rallied into positive territory, fell to fresh lows, and regained the bulk of its losses into the close.
For the second day in a row, the early weakness coincided with heavy selling in Europe. In addition, bonds and risk assets were pressured by a better-than-expected ADP Employment report, which ... More
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