The US isn't strong enough not to care about them now. But one day it will be, Jim Cramer says.
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Even as Michael Kors and Zynga go public, all eyes are on a bigger offering.
By Suzanne McGee, The Fiscal Times
Fashion design franchise Michael Kors made its debut Thursday after being priced late Wednesday night. So far, so good: The company’s ability to boost sales in the midst of a sluggish economy impressed investors. The stock had a solid first-day pop of 21% and closed at $24.20 a share, well above its $20 IPO price.
The sector has surprisingly outperformed all others this year, and recent market action indicates more upside.
By Tom Aspray, MoneyShow.com
With only a couple weeks left in the year, there is little debate that it has been a rough year for most stock investors -- and virtually no one expected that utilities would be the strongest sector for the year.
As of Thursday’s close, the Select Sector SPDR - Utilities (XLU) was up 10.47% compared to the 2.73% decline in the Spyder Trust (SPY), which tracks the S&P 500. In total, XLU has outperformed SPY by 13%.
This David Dreman-based investment screen uncovered 10 diamonds in the rough.
The most successful gurus I follow share one striking similarity: they are contrarians. When the rest of Wall Street is zigging, they are zagging; when Wall Street zags, they zig.
One guru in particular is known for being, well, the most contrarian: David Dreman. Throughout his long career, Dreman sifted through the market's dregs in order to find hidden gems. Indeed, his Kemper-Dreman High Return Fund was one of the best-performing mutual funds ever.
Perhaps the IPO was not as highly anticipated as we thought. Investors didn't think the stock was worth more than its IPO price.
Zynga (ZNGA) began trading Friday morning after pricing its IPO at $10 a share Thursday. But for investors, that $10 price was a little too rich.
Within the first few minutes of trading, Zynga's stock quickly fell below $10 -- and it would close the day there as well. Despite all the hype leading up to the IPO, investors could not be swayed to jump in. The company originally had hoped to sell shares at $20.
Safeway is initiated with a 'sell,' while Carnival is upgraded.
Friday's noteworthy upgrades include:
- Liberty Global (LBTYA) upgraded to Overweight from Neutral at JP Morgan
- Linear Technology (LLTC) upgraded to Outperform from Perform at Oppenheimer
- Amgen (AMGN) upgraded to Neutral from Sell at Goldman
- Carnival (CCL) upgraded to Overweight from Neutral at HSBC
- Buffalo Wild Wings (BWLD) upgraded to Buy from Neutral at Miller Tabak
Despite an ugly chart and deflation worries, the ultimate chaos we are headed for in Europe is the best thing that can happen to gold.
Is everyone who follows gold just a chartist? Doesn't it seem that way?
How many times did I hear Thursday that gold fell below key support so it must be all over? How many times did I hear that gold is finished and kaput and the gigantic move is over? If people pronounced stocks dead as often as they pronounced gold dead, the world would be betting against equities.
I come here to defend gold. First, it will be up for 11 straight years if it finishes 2011 anywhere near here. The SPDR Gold Trust (GLD) started the year at $138, and while it did go up to as high as $184, it's still been a terrific year for the precious metal.
The global media and entertainment company offers sound finances, a rising payout and strong management.
Walt Disney (DIS) recently announced a big 50% hike in its dividend. While the yield is still only 1.6%, the move shows the confidence of the board of directors in the company's future and that has added to my good feelings about this business.
The long-term payout for Disney is only about 20% of the 2011 free cash flow. So the company could continue to raise dividends over the next few years without any difficulty.
With unexercised options, the company could be worth as much as $8.9 billion. But the $10 price in its initial public offering is lower than Street chatter of $12 a share.
Two weeks ago, Zynga projected it would sell 100 million shares in its initial public offering for $8.50 to $10 a share.
It did. That translates into a market capitalization of $7 billion. With unexercised options, the market cap rises nearly to $8.9 billion.
But the results of Thursday's IPO had to be something of a disappointment. There was chatter on CNBC that the IPO would price at $12 a share. And Zynga originally thought it would sell its shares at $20.
A better gauge of investor sentiment about the company will come Friday when shares open for trading on Nasdaq under the ticker ZNGA.
The rising popularity of gold exchange-traded funds has come at the expense of gold-mining shares.
A bearish analyst note sends shares lower, but questions linger.
By Rick Aristotle Munarriz
Maybe Green Mountain Coffee Roasters (GMCR) won't have such a rosy holiday season after all. Stifel Nicolaus analyst Mark Astrachan issued a bearish note on the java giant, sending the stock sharply lower yesterday. Shares have tumbled over 20% in the last three days.
Astrachan's channel checks show that Keurig brewer shipments from China have declined in recent months. The news contrasts with Green Mountain's conference call last month, when the company behind the Keurig single-cup brewers and the K-Cup portion packs that fuel the caffeinated sips indicated that sales are holding up well. It stuck to its near-term guidance calling for 60% to 65% in net sales growth for the entire fiscal year.
Expedia’s coming spinoff of TripAdvisor offers a great play on social media at a bargain price.
By Igor Greenwald, MoneyShow.com
I’m not on Facebook all that often anymore.
Partly it’s because I’ve turned into a heavy professional user of Twitter, and partly because, well, it’s no longer 2009. That was the year I joined, when Facebook had roughly half of the 800 million members it has today.
That means tens of millions of people have likely made the same journey from discovery, excitement, and engagement to a bit of exhaustion and boredom setting in.
With the fighter jet eventually expected to account for 20% of revenue, any further production delays will push up the company's aeronautics backlog and reduce earnings
Highlighting the structural glitches which have plagued the program, Venlet told AOL Defense that tempering production rates may now be necessary. His remarks draw into question Lockheed's "concurrency strategy," which seeks to maximize unit production before test flights are completed with a view to retrofitting any necessary repairs.
With global markets expected to remain challenging over the next few quarters, the bank’s trading yield will also likely see a decline.
The global investment bank has been one of the most volatile financial stocks in recent months, along with Bank of America (BAC), and both have seen several single-day fluctuations of more than 5% as events related to the European debt situation unfolded. This extreme volatility can be largely attributed to the bank's extensive sales and trading operations, which can contribute anywhere between 30% and 50% of its total revenue from quarter to quarter.
With increasingly hostile opposition, AT&T has decided to withdraw its application and focus on securing Department of Justice approval.
The company and Deutsche Telekom (DT), T-Mobile's parent, announced Monday that they have asked a federal judge to stay further hearings until Jan. 18th so that they could “evaluate all options.” This comes after the Justice Department announced its intentions to postpone or dismiss its lawsuit seeking to block the deal. With AT&T's withdrawal of its merger application with regulators, the Justice Department has no reason to pursue the case.
VCs, whose entire business model revolves around their ability to focus on the upside potential of pretty much anything, are showing signs of unease.
By Suzanne McGee, The Fiscal Times
Angst over the surprises that may lurk in 2012 isn’t confined to investors in stocks and bonds, or to the economists trying to puzzle out the impact of Europe’s sovereign debt crisis on global growth.
Even venture capitalists -- whose entire business model revolves around their ability to focus on the upside potential of pretty much anything, in pretty much any kind of scenario -- are showing signs of unease.
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Improving the US's technological infrastructure would be a costly undertaking, but government regulation could help boost connection speeds and competition.
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[BRIEFING.COM] Two hours into the session, the major averages are holding their recent levels with the Nasdaq (+0.3%) leading while the S&P 500 (+0.1%) sports a two-point gain.
Individual sectors trade in mixed fashion with technology (+0.5%), health care (+0.4%) and consumer discretionary (+0.2%) setting the pace while energy (-0.2%), financials (-0.2%), and materials (-0.1%) lag.
Today's leading sector, technology, is receiving considerable support from its top component, ... More
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