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Be wary of dire market forecasts

The most likely scenario is that the markets will begin to rise from here -- and that bounce is just beginning to take hold.

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Investors expect the iPhone to be a big hit and are looking for signs that Verizon might sell the model.

By TheStreet Staff Jun 17, 2010 2:29PM

thestreet logoBy Scott Moritz, TheStreet

 

More reports of Apple's (AAPL) production plans for a CDMA iPhone stirred up the simmering anticipation for a Verizon (VZ) iPhone, sending Apple shares to a new high.

 

According to Digitimes, Apple's contract manufacturers plan to ship a CDMA version of the iPhone in the fourth quarter. This information confirms a report last month from TheStreet that Apple had told its iPhone manufacturing partners to start full-scale production of a CDMA iPhone to be available as a Verizon iPhone, as early as November. Verizon uses the CDMA, or "code division multiple access," technology.

 

The news comes as pre-orders for Apple's redesigned iPhone 4 outpace supply. They have even exceeded the sales volume of the previous iPhone by a factor of 10.

 

A partnership between BK and the Xbox will help promote both the King and the new Kinect motion control system

By InvestorPlace Jun 17, 2010 11:30AM

video gameA strange press release has been floating around cyberspace today, outlining how Burger King (BKC) is partnering with Microsoft (MSFT) on the launch of the new Xbox 360 motion control system called the Kinect. The strange partnership has been turning more than a few heads, even though its extremely light on the details.

 

The Kinect goes on sale in November, and is getting a lot of buzz because the technology allows gamers to control characters on the screen simply by moving around and not by pushing buttons or swinging a remote controller. But what in the heck does Burger King have to do with video games?

Actually, more than you may think.

 

FedEx projects strong growth, but its shares dropped after a disappointing earnings outlook.

By TheStreet Staff Jun 17, 2010 11:30AM

TheStreetBy Ted Reed, TheStreet

 

Disappointing earnings estimates from FedEx (FDX) on Wednesday triggered a market decline and a 6% drop in the company's shares, but several analysts say Wall Street got it wrong.

 

In reports issued after the company's earnings call, two analysts cited price targets of $100 while a third said $113. Historically, the analysts said, FedEx trades at 18 to 21 times earnings. In trading on Wednesday, FedEx shed $4.94 and closed at $78.07.

 

Before the opening Wednesday, FedEx projected earnings of 85 cents to $1.05 a share in the current quarter and $4.40 to $5 for fiscal year 2011. Analysts surveyed by Thomson Reuters had been estimating $1.03 for the current quarter and $5.05 for fiscal 2011.

 

High-yield dividend stocks tend to outperform when market direction wavers.

By TheStreet Staff Jun 17, 2010 10:59AM

TheSTreet logoBy Jake Lynch, TheStreet

 

U.S. stocks yesterday weren't able to extend Tuesday's rally after a report showed U.S. housing starts fell 10% in May and FedEx (FDX) issued a 2010 profit outlook that missed analysts' expectations.

 

Dividend-paying shares help investors weather a weak stock market. Here are 5 stocks that offer enormous yields. They also carry greater-than-average risk.

 

A handful of penny stocks, including Zanett and Dearborn Bancorp, are seeing big gains this year.

By TheStreet Staff Jun 17, 2010 10:52AM

TheStreetBy Robert Holmes, TheStreet

 

The Great Recession produced a slew of penny stocks for speculative investors as many stock prices fell below $3 during the throes of the bear market.

 

For some penny stocks, the returns have been massive during the first six months of the year.

 

Here are the top five penny stocks of 2010, ranked by total returns. Here’s what may be in store for investors in those companies for the remainder of the year.

 

 

ABC News reports that the company's Jersey City office building has been sprayed to get rid of the bloodsuckers.

By Elizabeth Strott Jun 17, 2010 10:21AM

Scanning electron microscope image of bed bug (© Tim Flach/Getty Images)Goldman Sachs (GS) may do "God's work," but the company has a devil of a problem: bedbugs.

 

Employees at the company's new 42-story office tower in Jersey City, N.J., were ordered out of the building last month as bedbug-sniffing dogs and exterminators came in to spray for the critters, ABC News reported, citing sources at the company.

 

"We're always focused on our facilities and there are no issues," a Goldman Sachs spokeswoman told ABCNews.com in a statement. She did not comment as to whether the building had been treated for a bedbug infestation.

 

There are many reasons this market feels so tenuous.

By Jim Cramer Jun 17, 2010 8:36AM

Jim CramerBy Jim Cramer, TheStreet

 

It's part oil spill. Part stock market's worst May in 40 years. Part "flash crash." Part no increase in hiring. Part hangover from April's strong showing. Part end of the housing tax credit. Part European unraveling.

 

That's what I come up with when I puzzle -- now endlessly -- on how May was such a weak month in this country, and how the market is still struggling to recover in June.

 

The psychology of the economy took a big hit in May, and I think all of those negatives contributed to it and have caused us to distrust this rally and detest its phoniness.

 

Beijing is pulling out all the stops to get Agricultural Bank of China to market.

By Jim J. Jubak Jun 16, 2010 6:11PM

Jim JubakOne step back and one step forward on the IPO (initial public offering) of the Agricultural Bank of China.


I’ve repeatedly tabbed this IPO as the indicator I’m watching to figure out the health of China’s stock market in particular and its financial system in general -- and to time buys of Chinese stocks.


China’s already publicly-traded banks need to raise $40 billion in new capital this year to meet requirements from bank regulators for higher reserve levels and to meet demands from the economy for new loans.

 

There's more data available than ever, so why are the numbers so far off?

By TheWrap Jun 16, 2010 3:19PM

How exact a science is movie tracking? Lately -- not very.


Over Memorial Day weekend, Warner Bros.' "Sex and the City 2" was forecast to take in around $60 million. It ended up making just $36.8 million.


A week earlier, DreamWorks Animation's 'Shrek Forever After" was on track to take in about $90 million, but it ended up opening to just $70.8 million.


Then last weekend, the opposite happened with Sony's "The Karate Kid." Its domestic opening beat the high end of pre-release forecasts by a stunning $20 million.


What's going on?

 

Yields for BP bonds have gone sky-high. Are bonds a smart buy?

By Kim Peterson Jun 16, 2010 3:07PM
Fitch has downgraded BP (BP) by six notches. Yeah, you read that right: BP is almost at junk status.

Investors responded Tuesday by unloading BP bonds, sending yield soaring. The yield for one bond that matures in 2013 rose to 8.7%, The Wall Street Journal reported. Another bond that matures next year is getting an 8.5% yield.

That sounds awfully attractive. But before you consider bonds, you need to think about another "b" word: Bankruptcy. That's the real danger to BP bond holders, the Journal reports. 
Tags: BP

The two have started a fundraising drive that could significantly impact philanthropy.

By Kim Peterson Jun 16, 2010 2:22PM
Credit: (© Paul White/AP)
Caption: Warren BuffettBe as critical as you want about Warren Buffett and Bill Gates. But when it comes to charitable giving, no one does it better.

The two have already pledged vast amounts of money to charity. Now, they want other billionaires to do the same. For the last year, Fortune reports, they've been pleading their case to the likes of David Rockefeller, Michael Bloomberg and Oprah Winfrey.

Fortune calls it the biggest fundraising drive in history: "They are driving to get the super-rich, starting with the Forbes list of the 400 wealthiest Americans, to pledge -- literally pledge -- at least 50% of their net worth to charity during their lifetimes or at death." 

There is no question that Wal-Mart is a massive company. Still, the enormous scope and impact of the discounter may surprise you.

By TheStreet Staff Jun 16, 2010 1:45PM

the street logoBy Jeanine Poggi, TheStreet

 

How many retailers does it take to equal the size of Wal-Mart (WMT)?

 

The answer: it takes a full six of the nations' largest companies -- including CVS Caremark (CVS), Costco Wholesale (COST), Home Depot (HD), Target (TGT), Walgreen (WAG) and Lowe's (LOW) -- to equal the scale of Wal-Mart's revenue.

 

Wal-Mart racked up revenue of more than $400 billion in 2008, which was six times that of rival Target, and the same as these six retailers combined, according to research conducted by Consensus Advisors, a boutique investment banking firm.

 

Sears is trying to evolve, but these three blunders show the store may be stuck in a downward spiral.

By InvestorPlace Jun 16, 2010 10:53AM

Poor Sears. Sears Holdings (SHLD), the retail stock behind the massive U.S. department-store chain Sears and discount retailer Kmart, peaked at nearly $200 a share in 2007.


Sears' shares hasn’t come anywhere close to that number in the last few years. More recently, the company has only had one quarterly profit in the last four reporting periods -- including an unexpected loss in the first quarter.


There’s little wonder Sears' stock has struggled recently, as big markdowns on pricey appliances have been part of an effort to connect with consumers. While sales haven’t really budged, margins have dropped through the floor – narrowing to a slim to 28.2% in the most recent quarter, from an already anemic 28.6% the year before.

 

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 Jun 16, 2010 8:44AM

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.

By Jim J. Jubak Jun 15, 2010 4:33PM

Jim JubakThe 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).

 

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[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.

Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More


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