Why stocks are in for a rough ride this week
Stocks in for a rough ride this week

Longtime market bull Jeremy Siegel says investors could realize the market is behind the curve on interest rates.

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If you aren't in 1 of these 3 areas, you are playing an earnings-and-macro game that rides more on luck than skill.

By Jim Cramer Oct 17, 2012 9:00AM

TheStreet.com logoamana productions inc., amana images, Getty ImagesThe measure of this market isn't Citigroup (C), which, alas, is just a $3 stock times ten. It isn't IBM (IBM), which I think will ultimately bottom sooner than people think.

 

It's the ones like Murphy Oil (MUR), companies that take matters into their own hands and you are instantly rewarded with points on the board.

 

Murphy did nothing more than what the other guys are doing, splitting the company up, doing some value unlocking, going about the simple game plan that Third Point, a hedge fund suggested, and there are instant riches.

 

The real-estate investment trust continues to divest nonstrategic assets while acquiring high-quality properties.

By Zacks.com Oct 17, 2012 8:41AM

 VisionsofAmerica Joe Sohm Digital Vision Getty ImagesKimco Realty Corporation (KIM), a real-estate investment trust (REIT), continues to reposition its portfolio through the divestiture of nonstrategic assets and acquisition of high-quality properties.


Since the end of second quarter 2012, Kimco had sold 23 noncore retail properties (2.7 million square feet) for $165.0 million. This divestiture included the sale of a 13-property portfolio in the Midwest region, of which eight properties were located in Ohio and five in Indiana.

 

During the same time period, the company also acquired four wholly owned shopping centers in its primary markets. Spanning a total of 581,000 square feet, the properties were acquired for $118.8 million including the assumption of $42.5 million of mortgage debt.

 

Increased seasonal hiring brings big gifts for job seekers, including the potential for continued full-time work after the holidays end.

By Jason Notte Oct 16, 2012 4:32PM

Image: Santa Claus (Tetra Images/Jupiterimages)Where untrained eyes might see warehouses full of boxes and belts loaded with outbound packages, Amazon (AMZN) sees its fulfillment centers as Santa's warehouse this time of year.


And it's looking for 50,000 more elves to help out this holiday season.


The company has unveiled a seasonal hiring plan that would more than double the 20,000 people at its 40 fulfillment centers across the country, where the seasonal employees will be placed. Those workers store incoming stock, pull online order items from warehouse shelves and pack boxes for shipment, and Amazon is hoping a few thousand of them will stick around as full-time workers after the holidays. 

 

The company's controversial acquisitions of Merrill Lynch and Countrywide are still dragging down its numbers.

By Jason Notte Oct 16, 2012 4:11PM

Bank of America Corp. signage is displayed outside of a branch in San Francisco, California David Paul Morris/Bloomberg via Getty ImagesLike Citigroup's (C) dismal earnings and chief executive Vikram Pandit's exit? You're going to love Bank of America's (BAC) third-quarter numbers.


Any optimism JPMorgan Chase (JPM) and Wells Fargo (WFC) gave banking investors Friday after reporting stellar profits and a surge in mortgage refinancing is being tempered by Citigroup's near-ignorance of the housing sector and Bank of America's wonky books. Analysts speaking to Reuters projected a net loss of $94.58 million for Bank of America, or 7 cents a share, on $21.89 billion in revenue. Analysts at Zacks were less kind, dropping Bank of America's earnings estimate from 13 cents a share to 0 cents. That's a 100% drop from 28 cents per share a year ago.


The fallout from the bank's Merrill Lynch purchase four years ago and a legal mess surrounding the mortgage underwriting practices of Bank of America's other 2009 acquisition, Countrywide Financial Services, are creating pressure that the bank's bottom line can barely withstand.

 

Chinese buyers have been shunning Japanese vehicles as a result of a territorial dispute. US automakers could pick up the slack.

By Benzinga Oct 16, 2012 2:46PM

Traffic copyright Pixtal, SuperStockBy Joe Young


 A territorial dispute over a chain of uninhabited islands in the East China Sea has caused a backlash against Japanese brands in China. 

Sales by Honda  (HMC), Toyota (TM) and Nissan (NSANY) in China have declined sharply, and Detroit automakers General Motors (GM), Ford (F) and Chrysler (FIATY) stand to benefit as a result.
 
Japanese vehicle makers saw sales fall 29% in September and analysts predict they will lose about a fifth of market share through the end of 2012, amounting to about 200,000 units.
 

Leaks show it could be as much as $649. That's not going to happen -- for 1 very big reason.

By TheStreet Staff Oct 16, 2012 1:37PM

The Apple Inc. logo is displayed on the back of the new MacBook Pro David Paul Morris, Bloomberg via Getty ImagesBy Chris Ciaccia TheStreet.com logo

 

It's all but certain now that Apple (AAPL) is going to announce an iPad Mini later this month, but what isn't certain is how much it will cost.

 

Leaked images show that the iPad Mini will start at $249 for the 8 GB, then go all the way up to $649 for a 64 GB version of the device with cellular connectivity, presumably through AT&T (T) and Verizon (VZ). (Sprint (S) carries the iPhone, but not the iPad).

 

TheStreet recently ran a poll asking readers how much they think the iPad will cost. Just over 30% of those surveyed expect Apple will charge $349 for the iPad Mini.

 

The former Citigroup CEO was always in the right place at the right time -- until now.

By Jonathan Berr Oct 16, 2012 1:27PM
Citigroup's (C) former CEO Vikram Pandit may be the luckiest person in the history of Wall Street.

Five months after Pandit sold Old Lane Partners LP, a hedge fund, to Citigroup in July 2007 for $800 million, he was named CEO of the bank. Citigroup shut down Old Lane and took a $202 million write-down. In 2008, Citigroup received a $45 billion bailout from the federal government as the world faced the worst economic slowdown since the Great Depression. 
Tags: C

After months in the doldrums, stocks are on the move again.

By Anthony Mirhaydari Oct 16, 2012 1:24PM

Adam Gault, OJO Images, Getty ImagesFor the first time in more than a month, it looks like a new rally is under way. The bulls are keying off of strong earnings from the financial sector -- with Goldman Sachs (GS) reporting earnings of $2.85 per share versus expectations of $2.15, thanks to strong investment banking results -- along with indications that Spain is about to sign up for a sovereign bailout program to unlock the European Central Bank's new bond-buying program.

 

Yes, there are still clouds on the horizon, including tax hikes and spending cuts worth 5% of GDP here at home and the uncertain fate of Greece. But for now, there are indications that the little two-month pullback we've just suffered has run its course.

 

Stocks move higher as quarterly results from 3 Dow members provide hope that earnings season may not be as bad as feared.

By MSN Money Partner Oct 16, 2012 12:44PM
logoImage: Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

One day after Citigroup (C) reported stronger-than-expected third-quarter earnings, the bank's board shocked Wall Street by announcing that Chief Executive Officer Vikram Pandit had stepped down, effective immediately. 

John Havens, Citi’s President and Chief Operating Officer, also resigned. Pandit will be replaced by the current head of the European and Middle Eastern unit, Michael Corbat. 

Citigroup shares, which initially sold off, recovered and were up nearly 1% at midday. 

Among Dow members reporting earnings, Johnson & Johnson (JNJ) and UnitedHealth (UNH) both beat expectations and raised their full-year views, while Coca-Cola (KO) shares moved down fractionally after its results were roughly in line with analysts' forecasts. 
 

Here are previews of 4 widely followed companies that are set to issue results later this week.

By Stock Traders Daily Oct 16, 2012 12:27PM

Image, Stock market report copyright Don Carstens, JupiterimagesThird-quarter earnings season is now in full-swing and the pace of corporate reports is steadily ramping up. In fact, this week alone, about one quarter of all S&P 500 companies will be issuing quarterly numbers.

 

So far, most of the key reports have come from the financial sector and the results have been better than expected. Heading into this earnings season, there was a widespread belief that earnings growth could come in negative this time around, but the financials may prevent that dubious feat from occurring.

 

Excluding financials, however, this quarter's results will look quite uninspiring. Over the past several weeks, we have seen plenty of companies -- particularly from the technology and transportation industries -- lower their guidance. The question is, will it matter if companies miss their mark? After all, the S&P 500 is still up ~2.5% since early September, even in the face of lowered guidance from bellwethers such as Intel (INTC) and FedEx (FDX).

 

Clearwire is downgraded to 'neutral,' and Halliburton is initiated with an 'outperform.'

By MSN Money Partner Oct 16, 2012 12:03PM
Comstockfly logoInformation provided by Theflyonthewall.com

Tuesday's noteworthy upgrades include:
  • Alliance Data (ADS) upgraded to Outperform from Market Perform at Wells Fargo
  • Citigroup (C) upgraded to Strong Buy from Outperform at Raymond James
  • Fossil (FOSL) upgraded to Buy from Neutral at Citigroup
  • Helmerich & Payne (HP) upgraded to Outperform from Sector Perform at RBC Capital
  • Kroger (KR) upgraded to Buy from Hold at Jefferies
 

A Republican victory could be good news for the sector, but it may be too soon to invest.

By TheStreet Staff Oct 16, 2012 12:02PM

TheStreet.com logoElevated view of freight cars with coal copyright Joseph Sohm-Visions of America, Photodisc, Getty ImagesBy Bill Gunderson

 

Pennsylvania is the fourth-largest coal producer in the U.S. Pennsylvania is also an all-important swing state. Gov. Mitt Romney has been courting the coal miners and the coal-producing states, claiming that he will help to create a friendlier Environmental Protection Agency for them.

 

One of the very best stocks that I ever owned was a coal stock. Remember the run that commodities had from about 2002 to 2008? Coal stocks, copper stock, steel stocks soared as the global economy boomed and cranes in China dotted the land.

 

That all came to an end in 2008 as the financial crisis hit, the global economy slowed and the U.S. dollar began to strengthen. 

 

The Citigroup CEO takes Wall Street by surprise, leaving puzzled investors guessing about his motives.

By TheWeek.com Oct 16, 2012 11:57AM

Image: CEO copyright Photodisc, Getty ImagesCitigroup (C) CEO Vikram Pandit abruptly resigned Tuesday, taking Wall Street by surprise. "Given the progress we have made in the last few years, I have concluded that now is the right time for someone else to take the helm at Citigroup," said Pandit, who will be replaced by Michael Corbat, the head of Citigroup's European division. 


Citigroup President and Chief Operating Officer John Havens also stepped down, shaking up the leadership team that steered Citigroup through the financial crisis with the help of a $45 billion government bailout. 


Here are four issues to consider regarding Pandit's sudden resignation:

 
Tags: C

Growth of nearly 50% in investment banking revenue contributed to the results.

By Bruce Kennedy Oct 16, 2012 11:43AM

arrow upIt was a strong third quarter for Goldman Sachs (GS).

 

In its earnings report Tuesday, the international investment bank announced net revenue of $8.35 billion, up from $3.59 billion a year ago and well above expectations. It also reported net earnings of $1.51 billion.


Goldman's adjusted third-quarter earnings of $2.85 per share beat estimates by quite a margin and were a considerable improvement over the loss of 84 cents per share the company posted in the same period in 2011.

 

"This quarter's performance was generally solid in the context of a still challenging economic environment," Goldman chairman and CEO Lloyd Blankfein said.

 
Tags: GS

All the Apple talk lately is about a smaller tablet, but the company may debut a new 13-inch laptop at the same time.

By Jason Notte Oct 16, 2012 11:06AM

Credit: 2012 Apple Inc
Caption: Apple Macbook ProApple (AAPL) reportedly plans to announce a new MacBook at the end of its iPad Mini launch event. Just one problem: What's a MacBook?


According to 9to5Mac.com, Apple plans to debut a 13-inch MacBook Pro with a retina display similar to the ones used on its iPhone and iPad. Apparently, this version was supposed to be released with the 15-inch Retina display MacBook in June, but production issues pushed it back a few months. Now Apple is expected to unveil the new MacBook Pro after it debuts the iPad Mini on Oct. 23.


That it's basically a throw-in at an iPad event says about all observers need to know about the laptop's place in the company. While MacBook unit sales increased 34% to more than 12 million in 2011, that was also the first year its sales were more than doubled by the iPad. Apple sold more than 32 million of the popular tablets last year and cleared $20.4 billion doing so. That's not just more than the $15.3 billion folks paid for MacBooks last year but is extremely close to the $21.8 billion they spent on Mac products of any kind.

 
Tags: AAPLHPQ

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[BRIEFING.COM] The major averages ended the midweek session with slim gains after showing some intraday volatility in reaction to the release of the latest policy directive from the Federal Open Market Committee. The S&P 500 added 0.1%, while the relative strength among small caps sent the Russell 2000 higher by 0.3%.

Equities spent the first half of the session near their flat lines as participants stuck to the sidelines ahead of the FOMC statement, which conveyed no changes to the ... More


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