The $19 billion WhatsApp deal could become the Facebook founder's legacy . . . or his albatross.
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The trend is a sign that books' future is digital -- and that the iPad hasn't cornered the market just yet. With video updates.
It appears that reports of the death of the hardcover novel may not be exaggerated after all.
Amazon announced today that its electronic titles dramatically outsold hardcover titles last month, with 180 e-books sold for every 100 hardcovers. Amazon.com (AMZN) founder and CEO Jeff Bezos points to the recently lowered price of the Kindle, from $259 to $189, as the catalyst for the recent explosion in sales.
- Related Article: HP delays Android tablet computer
The trend is interesting for two reasons. First, because it seems to indicate that e-books are connecting on a mass level and, second, because it shows that the much-vaunted iPad from Apple Inc. (AAPL) isn't the only show in town.
Net revenue falls to $8.84 billion from $13.7 billion a year earlier.
By Joseph Woelfel, TheStreet
Updated at 12:44 p.m. ET
Goldman Sachs (GS) managed to top Wall Street's second-quarter profit view Tuesday, excluding items, but the bank fell short on the top line as all three of its main business units saw year-over-year revenue declines.
Excluding a total of $1.15 billion in expenses related to last week's settlement with the Securities and Exchange Commission and a U.K. bank payroll tax, Goldman earned $1.6 billion, or $2.75 a share, in the latest three months.
Revenue fell to $8.84 billion for the June period from $13.7 billion a year earlier, and $12.8 billion in the first quarter.
The average estimate of analysts polled by Thomson Reuters was for a profit of $2 per share on revenue of roughly $9 billion for the latest second quarter.
The key to a modest lift in home prices -- enough to cut foreclosures -- is a dramatic decline in new-home builds.
By Jim Cramer, TheStreet
What do we expect of housing? That it will resume some sort of bizarre trend higher -- 12% a year, 15%? What do we want, for housing to become this great investment again?
Today, just as expected, we got some more crummy housing numbers -- I spoofed them last night on my "Mad Money" TV show. New housing starts were down 5% in June, to their lowest level since October. People will lament that a lot of home mortgages are "underwater."
Nobody likes a losing investment. It's a decent reason to abandon a home if you think it's never coming back, as I said would happen in 2007, when prices got out of control and no money was put down and everything was a flip.
The small second-quarter decline comes after an 8% drop in the first quarter, according to an industry trade group.
Industry trade consortium the Digital Entertainment Group released figures Monday showing that revenue from sales and rentals of DVDs, Blu-ray discs and digital downloads dropped just 0.7% in the second quarter of this year after dropping 8% in the first quarter.
Overall, the business is down 3.3% at the midway point of this year to $8.8 billion.
These 3 high-yield 'dividend aristocrats' have been delivering payouts for over 80 years.
Dividend investing has always been a very popular way for shareholders to see a strong return on their investments. And high yield dividend stocks that consistently pay stipends to investors are very attractive in choppy markets.
While many companies today offer their shareholders lucrative dividends, these dividend aristocrats have been doing it for decades. The following companies all boast a dividend yield of at least 2.5% with several of them returning over 5% of their stock’s price to investors. And best of all, these high yield dividend stocks have delivered these payouts for many years – some of them for more than a century!
These exchange-traded funds are likely to react to upcoming earnings reports.
By Don Dion, TheStreet
ETF investors this week will closely watch the earnings of such heavyweights as Apple (AAPL) and Goldman Sachs (GS). Here are seven exchange-traded funds that will react to the upcoming earnings action.
Apple reports earnings Tuesday, and as in the first quarter, it comes in the wake of a post-earnings pop in Intel (INTC) and a drop in Google (GOOG) after its report. In April, Apple beat consensus estimates by 36%, and shares were up 10% over the course of a few days.
Apple comes into this earnings report slightly beaten down by reception problems with its new iPhone 4. This won't show up in earnings for the previous quarter, but it could impact the company's outlook. In terms of last quarter, investors will be focused on iPhone and iPad sales.
A report from TARP regulators says yes, but Treasury says millions of manufacturing jobs were saved.
A report is out today from officials saying the government hurt American workers by forcing the closure of GM and Chrysler auto dealerships as part of the automakers' 2009 bailouts.
"The fact that Treasury was acting in part as an investor in GM and Chrysler does not insulate Treasury from its responsibility to the broader economy," said the special inspector general for TARP funds -- a kind of watchdog for the bailouts.
But Treasury and the White House were quick to counter, pointing out that the loss of dealership jobs was offset by the fact that thousands if not millions of manufacturing jobs were saved. The move was likened to layoffs at a company that hurt the individual workers who are fired but preserved the jobs of many more who remained on the payroll.
Consumers want low consumer prices and fresh produce, and 99 Cents Only Stores has them both.
Lately the company has been able to increase prices, lower inventory shrinkage (shoplifting) and get a handle on SG&A expenses. It tries to lead the market in having lower fresh-produce prices than the nearby general grocery stores. Low prices and fresh produce seem to be a winning combination.
The world's largest airline is the first to report second-quarter earnings. The company sees strong positive trends contining in the current quarter.
By Ted Reed, TheStreet
Delta (DAL) kicked off a week of airline earnings by reporting its best quarterly profit in a decade and said it expects continuing unit revenue gains in the current quarter.
The world's largest airline set net income excluding items was $549 million, or 65 cents a share. Analysts surveyed by Thomson Reuters had estimated 63 cents. Revenue rose 17% to $8.17 billion; analysts had estimated $8.25 billion.
Including items, such as $90 million in profit-sharing expenses, net income was $467 million, or 55 cents a share. In the same quarter a year earlier, including items, the carrier lost $257 million.
After a nice climb in recent weeks, the oil giant is about to take another dive as optimism over the Gulf spill wanes.
By Hillary Kramer, Editor of Game Changers
BP (BP) seems to have stabilized. After shares spiked to nearly $40 late Thursday, they have settled back down around $38 -- up over 9% from a week ago and up almost 17% in the past month.
But it’s the end of the line for BP, and investors who made a gamble and jumped in during the worst of the Gulf oil spill should cash out their profits now and put those gains to work elsewhere. The fact is that BP shares are going to get toxic in a hurry.
Until all the implications of the new law are fully understood, bank stocks will be sluggish -- but worth holding on to.
By Jim Cramer, TheStreet
Should there have been more of a bounce after the financial regulatory reform legislation went through? Why was everything so muted? One answer could be that people didn't care for Bank of America's (BAC) earnings.
I get that. There was no growth, and management really hammered shareholders with the most bearish possible assessment of the costs of regulation. They basically presented the negatives of all the costs and lost revenue without any potential growth that could come from higher service fees that we all know are on the way. It was a horribly downbeat conference call.
But there was something else at work, too, and it must be pointed out. Financial regulatory reform may be done, but it is rapidly dawning on people that we know nothing about what it will mean when it is implemented.
These companies show proof of growth in an uncertain market.
By Robert Hsu, Editor of China Strategy
With widespread investor concerns over the current state of China stocks, there are a lot of fear and frustration over China investments right now. The issue is that all China stocks are not the same. There are different types of China stocks listed in the U.S. -- state-owned enterprises, mid-cap blue chips and small caps, each with specific characteristics.
Overall, I still believe that we will see 40% upside in many of these stocks by year's end, most of it in fourth quarter, and now is the time to position for the upcoming rally.
To help you navigate toward some promising China investments, here are 3 stocks that show potential for growth this earnings season.
The downward roller coaster ride continued
Value Line Index-- Contains 1700 stocks so I think it is a better representation of the market than the S&P 500 or the even narrower Dow 30 -- down 4 days out of 5
- Although we are up by 5.75% since the beginning of the month we are down 6.54% for the last month
- 80% Barchart technical sell signal
- Closed Friday below its 20, 50 and 100 day moving average
- Barchart Trend Spotter (tm) sell signal
Barchart Market Momentum -- Contains approxi
While individual investors remain skittish, several top strategists, including Warren Buffett, are sounding optimistic.
As Friday's market tumble demonstrated, there's still plenty of fear to go around in the current market. Yes, sentiment had improved markedly earlier in the week as the market continued to bounce off its early-July lows, but all it took were a couple iffy earnings reports and some bad consumer sentiment data to send investors heading for the hills.
With fears of a double-dip recession or another bear market running high, it's not surprising that many of the stock market gurus I keep an eye on are finding opportunity. As Warren Buffett has said, the time to be greedy is when others are fearful.
One top mind finding bargains amid the fear: Bruce Berkowitz, who was recently named Morningstar's domestic equity fund manager of the decade.
Investors are worried about falling revenue streams and loan demand at Citigroup and other banks.
The bank reported falling revenue -- just 6% -- in its investment banking business. That seemed to confirm concerns that the Wall Street side -- investment banking, trading and the like -- of the big banks is slowing.
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The apparel chain takes a hard hit after blaming the weather for its quarterly sales decline. But cold temperatures don't explain the drop in full-year sales as well.
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[BRIEFING.COM] S&P futures vs fair value: -8.70. Nasdaq futures vs fair value: -18.30. The S&P 500 futures have recently notched fresh lows, and now trade nine points below fair value.
Markets across Asia ended mostly lower amid ongoing concerns over the health of the Chinese economy. Elsewhere, the Bank of Thailand cut its key rate 25 basis points to 2.00%, as expected. In economic data, Japan's BSI Manufacturing Index (12.5 versus 11.3 expected) and Tertiary Industry ... More
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