Stocks should be crushed by global turmoil, Jim Cramer says. Instead, they're doing fine.
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Investors have overlooked this prescient mobile-focused name.
Everybody loves playing the derivatives for the new Apple (AAPL) iPhone, and my take is that you are too late for almost all of them, as they have roared into the launch.
Except for one. It's a stealth play called Millennial Media (MM), a nifty little company that just went public. I spoke with CEO Paul Palmieri on Mad Money on Wednesday night. Millennial helps advertisers reach people through mobile devices on the Web.
We hear a lot about the monetization difficulties on mobile compared with on, say, desktops. However, I am beginning to think it is more of an opportunity -- just an opportunity that's been blown by many companies so far, including Facebook (FB), because they didn't see it coming.
CEO Mark Zuckerberg has taken the first step toward re-establishing investor confidence in the company.
He admitted a mistake.
Zuckerberg didn't talk his way around it or b.s. his way out of it. He didn't sound like a typical CEO.
Zuckerberg told the crowd that Facebook's biggest error was blowing two years not focused on mobile. In other words, the migration from the desktop to mobile snuck up on the company. Facebook was busy building a killer website when it should have been getting ahead of the curve in mobile.
It might not be the best shopping season for consumers either.
Data released Wednesday by ShopperTrak forecast a 3.3% increase in holiday sales this year, down slightly from the 3.7% gain seen in 2011. Foot traffic to retail stores is expected to rise 2.8%, the first gain since 2007, the latest sign of the growing confidence of American consumers.
July retail sales rose more than expected, quelling concerns that consumers would slam their checkbooks shut at the first sign of worrisome economic trends. As Bloomberg News noted, purchases climbed in all 13 categories for the first time since 2005. Experts, though, urge caution given that unemployment continues to hover over 8%.
One lost more than 5% on the news, but it's still well placed to compete.
Sure, it's amazing, but don't overlook what the company just decided to do with the iPhone 4.
But overall, the new device seems like more of a refinement than a revolution. Don't get me wrong -- Apple's refinements alone are better than what most companies can do at all -- but I feel a tiny bit let down after years of jaw-dropping debuts from the company. Perhaps investors felt the same way: Apple's share price has largely been flat all day.
Another reason for the letdown is that the rumor mill was pretty much spot on. Nearly everything that was announced was already leaked and thoroughly dissected by the technorati. These are the days when you really miss Steve Jobs, because no matter what Apple came out with, Jobs would have convinced us it was the coolest must-have device of the century.
A new CEO is shaking up operations at the cosmetics company.
One company that I have no hesitation in recommending is Estee Lauder Inc. (EL). The big story here is that new CEO Fabrizio Freda is successfully firing up the organization.
This leading manufacturer and marketer of makeup, fragrance, and hair care products is on a roll. The company earned $2.27 a share for the year ending June 30, up 23% from 2011.
Trumpeted as "Estee Lauder's Makeover Man," Mr. Freda was brought in three years ago to shake up the company after three generations of family rule. It was a bold move -- and so far it's paying off in spades.
Stocks are higher as investors await word from the Federal Reserve.
All eyes were on Apple (AAPL) Wednesday afternoon as the company unveiled its next iPhone, a device so hotly anticipated that it could materially impact U.S. GDP. The company's stock edged higher after the launch.
Texas Instruments (TXN) shares were flat after the company narrowed its Q3 sales outlook and raised the lower end of its Q3 EPS view.
Boeing (BA) may face a new combined competitor as Airbus parent EADS (EADSY) and defense contractor BAE Systems (BAESY) confirmed they are discussing a potential merger.
Zuckerberg's TechCrunch interview prompts a rally in the shares of his social network but leaves tech media puzzled.
His statement surprised many observers, including the technology press, which has reported repeatedly that the social network was moving in that direction.
At least one prominent Facebook observer, however, isn't convinced. Nick Bilton of The New York Times denies the media was led astray and doesn't think Zuckerberg's word on the subject is final.
"The tech press didn't get this wrong; Facebook got it wrong," Bilton wrote in an email to MSN Money. "Facebook had every intention of building a phone -- they still might -- but it's inaccurate to say that the tech press got it wrong when Facebook has been actively, and unsuccessfully, exploring its own phone for over two years."
Potash is downgraded to 'neutral,' while Agrium is upgraded to 'buy.'
Wednesday's noteworthy upgrades include:
Critics say the Kindle Fire is great for casual use, including watching movies and reading books. But it falls short on more advanced tasks.
Amazon says the Kindle Fire HD, which comes in 7-inch and 9-inch sizes, is "the best tablet at any price." That's just not true, says Walt Mossberg of AllThingsD. "The Fire HD isn't as polished, fluid or versatile as the iPad," he writes.
Despite Burberry's recent profit warning, several luxury goods purveyors look attractive.
When the financial crisis and Great Recession rocked the U.S. and global economies back in 2008, it was supposed to be the death knell for luxury goods companies and their stocks. After all, the U.S. consumer was dying, the pundits said, and who buys thousand-dollar handbags on their death bed?
But the last few years have shown that American consumers, while taking blows, are alive and kicking. Americans have increased their daily spending (not including normal household bills or purchases of cars or homes) by about 30% since early 2009, according to a recent Gallup poll, while government data shows that retail and food service sales have well eclipsed their pre-recession highs. Combine that resiliency with growing middle classes in emerging market nations like China, and luxury goods companies have actually fared pretty well recently.
The fast-food chain continues its health push in an attempt to get back on track.
Keep an eye out next time you place an order at McDonald's (MCD). On Wednesday, the fast-food chain announced plans to begin posting the calorie count for all menu items.
The move comes as the company struggles with lackluster growth and looks to lure customers any way possible.
In India, for example, that means appealing to the vegetarian population. Here at home, it means appealing to the many health-conscious Americans.
Despite the rise of streaming music, satellite radio has been generating revenue and has reworked its business plan for the new environment.
By Marc Gerstein, Forbes Low-Priced Stock Report
Sirius XM Radio (SIRI) was first featured in the newsletter in February 2011, and has done pretty well since. As of mid-August, SIRI was up 38%, versus an overall 2.5% decline for the Russell 2000.
It's being featured again, first because it is worthwhile in general to refresh our analysis, and second because this stock -- unlike most in our universe -- is so heavily followed it can be hard for investors to cut through the exorbitant level of clutter and focus on substance.
Obviously, as has been the case from Day 1, we have to contemplate the prospect that someday superstar shock-jock Howard Stern will leave Sirius, although we have no idea when that will happen. It will hit revenue, but it will also take a big chunk out of cost.
Futures are rising, but amid an otherwise weak year for prices.
By Dan Burrows
The price of coffee (futures, that is, not a hot cup of java) spiked 8% in the last week. But don't worry just yet -- that doesn't mean your cup of Joe or input costs for the big coffee companies are automatically going to spike, too.
Few things are scarier than food-price inflation. Whether you're an investor, a trader or just sitting on the sidelines, we all gotta eat. And it gets even more complicated when looking at what higher food costs mean for individual stocks or the larger economy.
Drought in the U.S. has corn and soy futures skyrocketing. That's hammering the profit outlooks for producers of chicken, beef and pork, like Tyson (TSN), Smithfield Foods (SFD) and Pilgrim's Pride (PPC). When their feed costs go up, their earnings go down.
Zuckerberg and Germany have offered up apologies of sorts -- and the reaction is warranted.
In the past 24 hours we have seen some heady mea culpa-izing. First we got Facebook (FB) CEO Mark Zuckerberg telling the truth that the company got caught flat-footed with the wrong software for mobile. That was a breathtaking interchange. Humility is in incredibly short supply in Silicon Valley, so I found it delightful. It was charming!
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The company plans to close stores and lay off employees, and says it needs to make some deeper changes.
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[BRIEFING.COM] The S&P 500 (+0.1%) has returned into the green, while the Dow Jones Industrial Average (-0.2%) has yet to make an appearance in positive territory.
The health care sector (+0.8%) continues holding the lead, while another influential group-financials (+0.1%)-has turned positive since our opening update. Outside of the two, the consumer staples sector (+0.2%) is the only other advancer.
However, it is worth mentioning that of the six decliners, the consumer ... More
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