Jim Cramer's Mad Money Review

U.S. stocks headed for a lower opening Monday after putting up big gains last week and as investors readied for quarterly corporate earnings reports.
With the Treasury bond market closed for the Columbus Day holiday and no major economic news expected, stock market investors will be looking for any corporate news to guide them.
The third-quarter results being reported will reflect the difficult times some companies have faced -- particularly in the financial sector -- following upheaval in the credit markets and amid a souring of some home mortgages. Ahead of the bell on Monday, Dow futures fell 26.00, or 0.18 percent, to 14,130. S&P 500 index futures fell 5.60, or 0.36 percent, to 1,565.10, while Nasdaq composite index futures fell 6.25, or 0.29 percent, to 2,164.50.
Light, sweet crude fell 65 cents to $80.57 per barrel in premarket electronic trading on the New York Mercantile Exchange.
News from companies over the health of their profits and comments about their expectations for the fourth quarter are likely to draw attention on Wall Street this week. S&P expects tepid results, predicting a modest decline in total earnings per share for S&P 500 companies. However, it expects growth in the fourth quarter.
Among companies Wall Street will be looking to Monday is Yum Brands Inc. The parent of fast-food chains KFC, Taco Bell and Pizza Hut, is slated to report results Monday.
Overseas, markets in Japan were closed for a holiday. In afternoon trading, Britain's FTSE 100 fell 0.43 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 declined 0.23 percent.
Source: Tim Paradis, AP Business Writer

Labels: Dow Futures, Home Morgages, NMX, Stocks, Sweet Crude, YUM

Stocks ran up big gains Friday as investors took comments from President Bush and Federal Reserve Chairman Ben Bernanke as reassuring signs Wall Street wouldn't be left to deal with problems in the mortgage and credit markest on its own.
Investors initially balked early in Friday's session when comments from Bernanke didn't indicate a cut in the benchmark federal funds rate was imminent. However, investors seemed to move past some of their initial disappointment and concenrate on comments that the Fed would step in if needed.
Bernanke, speaking at the Fed's annual conference in Jackson Hole, Wyo., said the central bank will "act as needed" to prevent the credit crisis from hurting the national economy.

Labels: Ben Bernanke, President Bush, Stocks, Wall Street

Stocks slipped in early trading Tuesday as investors interpreted comments from Federal Reserve Chairman Ben Bernanke as suggesting the central bank has little reason to lower interest rates. Bernanke's speech spurred traders to sell a day after the Dow Jones industrial average and Standard & Poor's 500 index edged up to new highs. Bernanke's forecast of rebounding growth, as well as his comments that inflation is "ebbing" but remains "somewhat elevated," made it appear unlikely the Fed will lower rates anytime soon, a disappointment for Wall Street.
Later Tuesday morning, investors will be examining the Institute for Supply Management's May index on non-manufacturing industries. According to the median estimate of economists surveyed by Thomson Financial, the market expects the index to hold steady at 56.0, the same reading as in April. In the first hour of trading, the Dow fell 58.11, or 0.42 percent, to 13,618.21.
Broader stock indicators were also lower. The S&P 500 index lost 6.13, or 0.40 percent, to 1,533.05, and the Nasdaq composite index decreased 9.18, or 0.35 percent, to 2,609.11.
Bonds slipped after Bernanke's comments, with the yield on the benchmark 10-year Treasury note rising to 4.94 percent from 4.93 percent late Monday.
The dollar was lower against other major currencies, while gold prices edged higher.
The Russell 2000 index of smaller companies was down 3.70, or 0.43 percent, to 851.39.
Source: AP

Labels: Ben Bernanke, Dow Jones, Nasdaq, Stocks

Wall Street fell Monday after data showed U.S. manufacturing was more sluggish than expected, a further sign that the economy continues to grow at a slower pace.
Stocks briefly had opened higher but fell sharply lower after the Institute for Supply Management said its manufacturing index slipped more than economists projected in March. The index moved to a reading of 50.9 last month, compared to an expected reading of 52.0.
However, keeping stocks afloat was a number of big acquisitions were announced before the market opened. Among them was private equity firm Kohlberg Kravis Roberts & Co.'s deal to take credit card transaction processor First Data Corp. private for about $29 billion.
Wall Street has traded nervously the past few weeks on concerns about rising inflation and the dollar's weakness. On Friday, the major indexes finished the first quarter lower -- with the Dow Jones industrials down 108 points in their feeblest performance since the second quarter of 2005. In mid morning trading, the Dow fell 2.20, or 0.02 percent, to 12,352.15.
Broader stock indicators were also lower. The Standard & Poor's 500 index was down 3.79, or 0.27 percent, at 1,417.07, and the Nasdaq composite index fell 3.32, or 0.14 percent, to 2,418.32.
Published by Joe Bel Bruno, AP Business Writer

Labels: FDC, Stocks

Stocks were narrowly mixed Tuesday as concerns about a market correction offset investor optimism that acquisition activity is on pace to set a record this year.
The $45 billion buyout of electric utility TXU Corp. injected confidence into the market that merger and acquisition activity could surpass last year's record $4 trillion level. The deal, led by a consortium of buyout shops that include Kohlberg Kravis Roberts & Co. and Texas Pacific Group, would go down as the largest leveraged buyout in U.S. history.
Other deals announced before the opening bell included Station Casinos Inc., which agreed to be bought by a private equity firm started by the company's founding family. Temple-Inland Inc., a conglomerate that offers everything from packaging material to financial services, announced it plans to separate itself into three standalone public companies.
However, stocks were unable to sustain gains as there continued to be concern major indexes are in need of a correction. The Dow Jones industrials, after hitting a peak last week, fell for three straight sessions in their worst weekly decline since August.
"Despite the buyout news, we're seeing the broader market a little concerned that we've had such strength without a correction," said Peter Dunay, an investment strategist with New York-based Leeb Capital Management. "We maybe be in a period where the market wants to step back for a bit."
In late morning trading, the Dow rose 9.70, or 0.08 percent, to 12,657.18.
Broader stock indicators were mixed. The Standard & Poor's 500 index was up 2.06, or 0.14 percent, at 1,453.25, and the Nasdaq composite index fell 7.81, or 0.31 percent, to 2,507.29.
Bonds continued to rise from last week's sell-off, with the yield on the benchmark 10-year Treasury note falling to 4.65 percent from 4.68 percent late Friday. Bonds had been weaker amid concerns that subprime lenders would be forced to take write-downs if consumers defaulted on mortgage payments.
The dollar was mixed against other major currencies, while gold prices rose.
Oil prices rose as a winter storm plowed across the United States, spurring expectations of strong demand for heating oil. A barrel of light sweet crude rose 31 cents to $61.45 on the New York Mercantile Exchange.
TXU rose $7.67, or 12.8 percent, to $67.69 after it agreed to be bought by private equity firms. Directors of the electric utility voted Sunday night to recommend that shareholders approve the sale, which values its stock at a 15 percent premium.
Meanwhile, Dow Chemical Co. spiked $2.88, or 6.6 percent, to $46.33 on speculation it could be the target of a leveraged buyout. London's Sunday Express newspaper, in an unsourced report, said the chemical company might be given an offer of about $54 billion from buyout funds.
Station Casinos rose $3.51, or 4.2 percent, to $86.81 after it agreed to go private in a $5.4 billion deal, which represents an 8 percent premium over its closing price on Friday. The deal still allows Station to solicit acquisition proposals from third parties for 30 days.
Temple-Inland rose $7.55, or 13.7 percent, to $62.50 after it agreed to spin off its real estate and financial services arms, and sells its timberland business. The decision came days after activist shareholder Carl Icahn said he'd wage a proxy fight to seize control of the board.
Gilead Sciences Inc. rose 30 cents to $73.93 after the biopharmaceutical company said one of its drugs used to treat HIV works well with other therapies. Merck & Co. rose $1.10, or 2.6 percent, to $44.04 after the third-biggest U.S. maker of prescription drugs was upgraded to "Buy" from Citigroup.
Declining issues barely outpaced advancers on the New York Stock Exchange, where volume came to 475.4 million shares.
The Russell 2000 index of smaller companies fell 1.88, or 0.23 percent, at 824.76.
Overseas, Japan's Nikkei stock average closed up 0.15 percent. In afternoon trading, Britain's FTSE 100 was up 0.56 percent, Germany's DAX index added 0.55 percent, and France's CAC-40 rose 0.87 percent.

Labels: DOW, GILD, MRK, STN, Stocks, TIN, TXU

One of the more intriguing arguments making the rounds in the blogosphere is that the stock market is jinxed in years ending in "7."
I've ignored the arguments up until now, but no longer. For this column I submit to several rigorous statistical tests the notion that the stock market performs any worse than average when the calendar years ends with the number seven.
Not to bury my lead too much: I found little statistical support for this notion.
That is not the conclusion one reaches on first blush, however. Using the database constructed by Prof. Jeremy Siegel of the Wharton School of the University of Pennsylvania, which extends back to 1802, I found that the average year ending in "7" produced a lower return than any other.
But this outcome is being driven by a relatively few years, as became evident when I looked at the results by decade. The decade-by-decade ranking of years ending in "7" varied quite widely.
For example, though in no decade was the year ending in "7" the most profitable, there were four in which it was the second most profitable - out of the 19 full decades since the early 1800s. And there were two additional decades one of which was the decade of the 1990s, in fact - in which it was the third most profitable year. So in a third of the decades, the years ending in "7" were either the third or the second most profitable.
To be sure, there were other decades in which the year ending in "7" was the least profitable year - four since the early 1800s, in fact. And there two others in which it was the next-to-least most profitable year.
The picture that is painted by all these results together is admittedly a complicated one. But I don't see how one can, with any degree of statistical confidence, conclude from them that 2007 will be a bad year for the market.
Perhaps in recognition of this complexity, some bloggers have recently taken to advancing an alternative version of the original argument. In its newer incarnation, the argument is that the stock market usually undergoes a significant market break in the seventh year of the decade - particularly as measured from the stock market's high of the previous year.
To test this argument, I needed daily market data rather than the monthly and yearly data that are provided in Siegel's database. So I turned to the Dow Jones Industrial Average (DJI:^DJI - News), which was created in the late 1800s, more than 110 years ago. For each year since then, I calculated the percentage drop from the prior year's high to that year's low.
The average for years ending in "7" - a drop of 22.6% might look worrisome. But it isn't really. That's because it is almost always the case that the stock market's low in a given year is lower than the previous year's high. In fact, the average for all years since 1896 is a drop of 18.7%. Given the volatility of the data, the difference between 22.6% and 18.7% is not statistically significant.
But even if you are inclined to ascribe statistical significance to the results, you should know that there are three other years - those ending in "0", "1", and "8" - for which the average drop from the previous year's high to that year's low is greater than for years ending in "7."
The bottom line: The stock market may perform poorly this year. But, I submit, if it does it will have nothing to do with the fact that this year is one that ends with the number "7."
Published by MarketWatch

Labels: Dow Jones, Nasdaq, Stocks

Market wise, equities are in the midst of the second-longest rally since 1929. Yet there are some serious warning signs -- especially sentiment
The odds are high that the current advance won't be able to continue. Stocks remain stretched and trade above past market multiples. What goes up must come down.
On the economic front, we are overdue for a recession. The last one occurred in 2000 and 2001. Business expansions don't last forever. The boom-and-bust pattern of an economic cycle has not been repealed.
An inverted yield curve almost always points to a deep business slowdown. The Fed publicly claims there's a 40% chance of a recession. However, a model of the Federal Reserve Bank of New York is essentially forecasting an outright recession.
Double-digit corporate earnings growth will be a thing of the past. Companies should consider themselves fortunate to experience single-digit growth.
The housing industry remains on the verge of a massive collapse. In our estimation, this real estate debacle is only in the top half of the second inning of a nine-inning ballgame.
Sentimentally speaking, our indicators are flashing major warning signals. At extremes, sentiment can indicate a peak or an important low. This contrary indicator is presently at an extreme level. Unfortunately, it's a very bearish one.
You need not look far for the evidence of the euphoria in today's market:
Fox plans to launch a new business channel. Newsweek magazine recently had a write-up on the success of the CNBC Business Channel.
Based on surveys by Investors Intelligence, bullish investment advisers hover between the 50% to the 60% range. These are at the high end of the spectrum.
The Dow Jones Industrial Average (Other OTC:INDUF.PK - News) achieved an all-time record high and the other indexes reached multiyear highs.
Small-cap stocks outperformed the other averages by a wide margin. Case in point, the Russell 2000 (Toronto:RUT.TO - News) skyrocketed to a record high in early 2007. In addition, it enjoyed an 18.9% gain last year.
Wall Street expects to pay out $23.9 billion in bonuses. A startling increase of 17% over the previous year's record. The world's largest investment banker, Goldman Sachs (NYSE:GS - News), reported a whopping profit of $9.4 billion -- the most ever for a Wall Street company in a given year. And it has set aside $16.5 billion for salaries, bonuses and benefits for employees. Lehman Brothers Holdings (NYSE:LEH - News) also produced record profits for the quarter and year. Bear Sterns experienced a record quarter.
In 2006, a combined total value of $1.6 trillion of mergers and acquisitions in the United States nearly beat the $1.7 trillion record for values in 2000 (the top of the high-tech bubble). Internationally, mergers and acquisitions of $3.8 trillion did overcome 2000's figures.
The utilization of derivatives surged to the quickest pace in eight years during the first half of 2006. According to the Bank for International Settlements, the face value of derivatives based on corporate bonds, currencies, interest rates, commodities and stocks leaped 24% to $370 trillion. It marked the biggest percentage increase since 1998.
On Feb. 9, Fortress Investment Group (NYSE:FIG - News) made history. It was the first hedge and private equity fund to go public, a $634 million initial public offering. In its first day of trading, Fortress shot up 89% in intraday trading.
In the United States, the number of hedge funds resumed its growth. There are in excess of 9,000 of these funds. Around the world it's 30,000 funds.
With all the frenzy, mania and froth, Wall Street failed to take note of how corporate insider selling has increased to its highest pace in 20 years. Furthermore, cash levels of mutual funds are near record lows. Without money for buying support, how do equities keep moving up?
Hence, our investing strategy: cash and go short.
We started the new year with 100% in cash, earning well over 5%, risk free. On Jan.17, we deployed 10% into the Rydex Ursa Fund (NASDAQ:RYURX - News). Ursa will rise when the Standard and Poor's 500 Index (CDNX:SPX.V - News) heads down in price. Another 10% is earmarked for RYURX if the S&P 500 moves higher in the coming weeks. The inverse action will provide us a lower cost-average price. The total return from cash and the short position should beat the market's performance for the new year.
The publicity shy Irwin Yamamoto has been managing money on the beautiful island of Maui for 30 years and is editor of the Yamamoto Forecast investment letter. He's as contrarian in his business as he is in his stock picks, choosing to forgo advertising, Web sites, e-mail or even a toll-free phone number. Investors interested in his monthly newsletter should write to P.O Box 573, Kahului, HI, 96733.
Content found in The Guru's Corner is subject to the terms and conditions found in the Disclaimer and does not represent a recommendation of investment advice. Investors should seek the advice of a qualified investment professional prior to making any investment decisions.
Published by MarketWatch

Labels: FIG, GS, INDUF.PK, LEH, RUT.TO, RYURX, SPX.V, Stocks

Mexico's Ministry of Finance has granted Genworth Financial Inc. (GNW.N: Quote, Profile, Research) the country's first mortgage insurance license, Genworth said on Wednesday.
Genworth, a large U.S. life and mortgage insurer, said it expects to begin writing mortgage insurance directly by the second quarter of 2007. The Richmond, Virginia-based company, spun off by General Electric Co. (GE.N: Quote, Profile, Research) in March, said its Mexican unit plans to make a 330 million peso ($30.5 million) investment to start the operation, which will be based in Mexico City. Genworth said the Mexican government wants to boost new home construction to 1 million units per year from the current level of about 750,000. The country's population topped 103 million last year, according to government data. In afternoon trading, Genworth shares fell 8 cents to $32.93 on the New York Stock Exchange. They began the year at $34.58.
Source: Reuters.com

Labels: General Electric Co., General Mills, Genworth Financial Inc., GNW, Stocks

Stock in International Coal Group (ICG) (ICO.N: Quote, Profile , Research), the owner of the Sago mine where 12 miners died last January, soared on Wednesday on takeover rumors then eased back when the company denied it was a target. ICG said it normally does not comment on rumors, but it had become aware of specific news reports of rumors of a management leveraged buyout. In morning trading on the New York Stock Exchange, ICG stock had risen more than 13 percent on the takeover buzz. But after the denial, it dropped back swiftly and in afternoon trading was up just 20 cents, or 3.98 percent, at $5.22.
Source: Reuters.com

Labels: ICG, ICO, International Coal Group (ICO), Stocks

Oracle Corp. (ORCL.O: Quote, Profile , Research) shares fell 5 percent on Wednesday after Lehman Brothers advised clients to sell the stock, saying quarterly sales of its database software might miss Wall Street expectations. "We believe investors are likely to find database results disappointing," Lehman analyst Israel Hernandez said in a note, citing the brokerage's research into quarterly sales trends. Hernandez expects the business software maker to miss his forecast for quarterly database sales of $871 million, and attributed the shortfall to problems closing orders in North America. Oracle officials could not be reached immediately for comment. The company is scheduled to report fiscal second-quarter results on December 18. Hernandez told clients to lock in profits on Oracle shares, which are up about 47 percent so far this year. The Redwood Shores, California, company's stock fell as low as $17.80 in heavy Wednesday morning trade on Nasdaq, before recovering to $17.93, down 93 cents.
Source: Reuters.com

Labels: Lehman Brothers, Oracle, ORCL, Stocks, Wall Street

Under Armour (UARM) is a buy, buy, buy. The management is brilliant and they have successfully entered, and dominated niche markets. They have a great brand and are taking market share away from Nike (NKE). Bottom Line: UARM is a buy and should see some long term growth before it dips. The selling in the market is not over, therefore, you should look for a stock with great dividends. The answer is Emerson Electric (EMR). They should have 15% growth next year and is trading at 15% times next years earnings. They are immune to the fallout and they yield a 2.5% dividend. Bottom Line: while you wait for the sell off to end, buy some EMR.
Lightning Round
Bulls: SBUX, SGP, NYX, EMC, GS, DTV
Bears: CHINA, TRAD, EK
You shouldn't follow the moves of hedge funds especially Pirate Capital Hedge Fund. Bottom Line: following a fund's move is not advised, when you get in, it's probably too late. Cramer gave Garmin (GRMN) one thumb up because he wants to wait and see what the numbers are before he gives it two thumbs up.
Sudden Death
Bulls: DNA, AMGN

Labels: Hot Stocks, Jim Cramer, Mad Money, Stock Market, Stocks

CHL
China Mobile Ltd Adr

VIP
Vimpel Communications

AMX
America Movil Sa Adr L

COGO
Comtech Group Inc

GLDN
Golden Telecom Inc

TEF
Telefonica S A Adr

GRMN
Garmin Ltd

MICC
Millicom Intl Cellular

TRMB
Trimble Navigation Ltd

TLK
Telekomunikasi Indo Ads

NIHD
N I I Holdings Inc

MBT
Mobile Telesystems Adr

VOD
Vodafone Group Plc Adr

IDCC
Interdigital Comm

Source: Investors.com

Labels: AMX, CHL, COGO, GLDN, GRMN, IDCC, MBT, MICC, NIHD, Stocks, TEF, telecom, TLK, TRMB, VIP, VOD

CHL
China Mobile Ltd Adr

VIP
Vimpel Communications

AMX
America Movil Sa Adr L

COGO
Comtech Group Inc

GLDN
Golden Telecom Inc

TEF
Telefonica S A Adr

GRMN
Garmin Ltd

MICC
Millicom Intl Cellular

TRMB
Trimble Navigation Ltd

TLK
Telekomunikasi Indo Ads

NIHD
N I I Holdings Inc

MBT
Mobile Telesystems Adr

VOD
Vodafone Group Plc Adr

IDCC
Interdigital Comm

Source: Investors.com

Labels: AMX, CHL, COGO, GLDN, GRMN, IDCC, MBT, MICC, NIHD, Stocks, TEF, telecom, TLK, TRMB, VIP, VOD

The FTSE 100 index .FTSE fell 0.3 percent on Friday after a plunge in the U.S. dollar hit stocks, but Scottish & Southern Energy (SSE.L: Quote, Profile, Research) and other utilities rose on continued bid talk and helped markets end above the lows. Banks were among the main losers as traders expressed concern about the translation of dollar-denominated profits back into sterling. Shares in Barclays (BARC.L: Quote, Profile, Research) fell 1.1 percent and Standard Chartered (STAN.L: Quote, Profile, Research) fell 0.7 percent. The FTSE 100 closed down 17.9 points, or 0.3 percent, to 6,122.1, after Wall Street fell in early trade, but reversing much of its earlier decline as bid talk lifted some stocks. Mining stocks fell on the lower U.S. dollar, although higher base metals mitigated the impact. Rio Tinto (RIO.L: Quote, Profile, Research) slipped 0.3 percent while Kazakhmys (KAZ.L: Quote, Profile, Research) fell 0.3 percent and Xstrata (XTA.L: Quote, Profile, Research) lost 0.6 percent. Insurers were among other standout decliners as sector bid speculation faded. Shares in Prudential (PRU.L: Quote, Profile, Research) fell 1.9 percent and those in Old Mutual (OML.L: Quote, Profile, Research) slipped 1.6 percent. General retailers were weak. Kingfisher (KGF.L: Quote, Profile, Research) slipped 2.9 percent on a Deutsche Bank downgrade, the broker's note saying that the group's B&Q stores' profits were unlikely to rebound as fast as the market expects.
Source: Reuters.com

Labels: BARC, currency, dollar, FTSE, KAZ, KGF, OML, PRU, RIO, SSE, STAN, Stocks, United States, XTA

The London Stock Exchange (LSE.L: Quote, Profile, Research) has been left with few options to defend itself from Nasdaq Stock Markets Inc.'s (NDAQ.O: Quote, Profile, Research) unwanted attentions after British financial markets broker ICAP's (IAP.L: Quote, Profile, Research) decision not to pursue fresh merger talks, analysts said on Tuesday. Nasdaq is pressing ahead with a 2.7-billion-pound ($5.1-billion) offer for Europe's largest share market, announced on Monday, despite the LSE having rejected it. Sources familiar with the matter said the New York-based exchange has asked for the London Stock Exchange's shareholder register as it scrambles to send out its offer document, possibly as early as this week. And analysts say the LSE is finding itself increasingly cornered, having already rebuffed four takeover approaches from rivals Deutsche Boerse (DB1Gn.DE: Quote, Profile, Research), Euronext (ENXT.PA: Quote, Profile, Research), Australia's Macquarie Bank (MBL.AX: Quote, Profile, Research) and a previous attempt by Nasdaq. "LSE has more limited means to counter this new bid than it had for the past offers," Elie Darwish, analyst at Exane BNP Paribas said in research note.
"We see no potential white knights for the LSE. As Nasdaq owns roughly 29 percent of the exchange it would be difficult for a third party to re-enter the race. LSE no longer has significant cash available to convince them not to support bidders." The LSE plans to wait until it needs to issue its first defense document under UK takeover battle rules, which is 14 days after Nasdaq launches its offer, before starting its formal defense against the offer, the sources familiar with the matter said. Meanwhile, Michael Spencer, the chief executive of ICAP, the world's biggest inter-dealer broker, said the company had no plans to re-engage in talks with the LSE. ICAP had held discussions over a possible combination earlier this year.
"The LSE has done a very good defensive job, it's played a blinder. But the options for the LSE are narrowing," said Spencer. Expect to see this deal close in the near future.
Source: Reuters.com

Labels: Deutsche Boerse, London Stock Exchange, Nasdaq, Stocks

U.S. stocks closed slightly higher on Tuesday as cautious investors took few new positions before the Thanksgiving holiday, but shares of aircraft maker Boeing Co. (BA.N: Quote, Profile, Research) and Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) soared to record highs, offsetting a jump in oil prices. The Dow Jones industrial average <.DJI> was up 2.88 points, or 0.02 percent, to end unofficially at 12,319.42. The Standard & Poor's 500 Index <.SPX> was up 2.21 points, or 0.16 percent, to finish unofficially at 1,402.71. The Nasdaq Composite Index <.IXIC> was up 1.98 points, or 0.08 percent, to close unofficially at 2,454.70.
Source: Reuters.com

Labels: BA, Boeing, GOOG, Google, Growth, Nasdaq, NYSE Group, Stocks

Brown Shoe Co. Inc. (BWS.N: Quote, Profile, Research) posted a bigger-than-expected 36 percent jump in quarterly profit on Tuesday, boosted by strong gains at its Famous Footwear chain, and raised its full-year earnings forecast. Brown Shoe, whose shares jumped 16 percent to a new all-time high, said third-quarter net income rose to $26.9 million, or 93 cents a share, from $19.8 million, or 70 cents per share, in the same period a year earlier. For the fourth quarter, it expects earnings per share of 48 cents to 53 cents, including restructuring costs and other items. Excluding those items, earnings are expected to be in the range of 65 cents to 70 cents. Shares were up $5.95, or 15 percent, at $45.50 after soaring to $45.85 in morning trading. The shares previous all-time high of $41.89 was set on November 15. A year ago, the stock traded at around $24 per share. This stock is not done going up. If you look at their 1 year chart, it appears that it formed a cup with handle pattern and has just broke out of that base. This is a good play if you want to make some "Mad Money."
Source: Reuters.com

Labels: Brown Shoe, BWS, Clothing, Shoes, Stocks

Shares of Web Search leader Google Inc. (GOOG.O: Quote, Profile, Research) on Tuesday surged past the highly anticipated $500 milestone for the first time, continuing its strong climb since it became a public company in August 2004. The stock was last up 2 percent at $505.15 and ranked as the biggest advancer on the Nasdaq. Although expensive, this stock is still a buy and has atleast another 50 points ahead of it. If you can afford it, Google is a buy.
Source: Reuters.com

Labels: GOOG, Google, Nasdaq, Stocks

Stocks edged higher on Tuesday as investors were cautious about taking new positions in a holiday-shortened week, but shares of jet aircraft manufacturer Boeing Co. (BA.N: Quote, Profile, Research) and Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) hit record highs. Shares of Boeing rose 1.7 percent to an all-time high of $90.64 on the New York Stock Exchange and led the Dow higher after Korean Air Co. (003490.KS: Quote, Profile, Research) said it had ordered 25 aircraft from the company. Google shares also tore through the key $500 level, climbing 2.2 percent to $505.72 and ranking among the Nasdaq's biggest gainers. In recent months, Google has pulled away from its peers on the Internet by posting sustained growth that is three to four times faster than its rivals. At the same time, its closest competitor, Yahoo Inc. (YHOO.O: Quote, Profile, Research) is in turmoil over strategy. The Dow Jones industrial average <.DJI> was up 6.57 points, or 0.05 percent, at 12,323.11. The Standard & Poor's 500 Index <.SPX> was up 2.24 points, or 0.16 percent, at 1,402.74. The Nasdaq Composite Index <.IXIC> was up just 0.96 of a point, or 0.04 percent, at 2,453.68. "The market has soared seven out of the last eight weeks, so it's just a little pause to catch its breath," said Al Goldman, chief market strategist at A.G. Edwards in St. Louis, Missouri. "The nice thing is that the market is handling the profit taking so far in a very positive fashion. The week before Thanksgiving tends to be strong seasonally." U.S. financial markets will be closed on Thursday for Thanksgiving, and the stock market will close early on Friday. Shares of medical device maker Medtronic Inc. (MDT.N: Quote, Profile, Research) shot up 8.8 percent to $53.24 and were the top positive influence on the benchmark S&P 500 index, as the company posted a better-than-expected quarterly profit. Farm equipment maker Deere & Co. (DE.N: Quote, Profile, Research) said quarterly earnings rose a better-than-expected 19 percent on a turnaround in its equipment business, sending shares of the company up 4.7 percent to $93.60.
Shares of upscale department store operator Nordstrom Inc. (JWN.N: Quote, Profile, Research) rose 3.9 percent to $49.32 on the NYSE after it reported quarterly results late on Monday.
Source: Reuters.com

Labels: BA, Boeing, DE, GOOG, Google, JWN, MDT, Medtronic, Nordstrom, Stocks

Nasdaq Stock Market Inc.'s (NDAQ.O: Quote, Profile, Research) $5.1 billion bid for the London Stock Exchange (LSE.L: Quote, Profile, Research) could lead to the creation of two transatlantic equities exchanges next year, if arch-rival the New York Stock Exchange (NYX.N: Quote, Profile, Research) completes a deal of its own. The race has been on among the U.S. rivals to expand their product offerings and geographic reach in an increasingly competitive and commoditized industry. While Nasdaq has been building up its stake in the LSE, NYSE has been pursuing Paris-based exchange Euronext (ENXT.PA: Quote, Profile, Research), a $10 billion deal it struck earlier this year with Euronext management which i