Google Revenues, Profits Rise; IBM’s Bumps Margins; Foreclosures Up as Well as Single-Family Homebuilder Confidence; Initial Unemployment Claims Fall to Lowest Level Since January; Sun Shareholders Approve Oracle Merger

Monday

Earnings Announcements: Novellus (NVLS)

On October 29, 2008 a pipeline company, Western Gas (NYSE:WES), announced plans that made its shareholders very happy. I wasn’t a shareholder at the time but its announcement caught my attention and I began following the company.

U.S. stocks gained today after software maker Oracle’s (NASDAQ: ORCL) results beat expectations and durable goods orders jumped unexpectedly, giving more hope that the economy is rebounding.

At this point, it is good to look for the defensive plays that have been neglected in this upturn and for safe havens for investors taking profits from the recent run.  After looking long and hard, I came to General Mills Inc. (NYSE: GIS).

In February, I wrote that the decline in stocks was just about over. Why?

When a subscriber recently asked us if we were hot on any nanotech stocks, my immediate reply was, “No”. But it wasn’t because I’m not excited about the nanotech field…

Barring some dramatic – and unforeseen – news this week, expect investors to tread water until Thursday, when the government is expected to release the results of the bank stress tests it conducted on the 19 largest U.S. banks.

Only one of the 19 financial institutions that received a bank stress test would require additional capital, the controversial government initiative has reportedly concluded.

When it comes to the U.S. stock market right now, the story continues to be about earnings. And this week will be no exception.