Buy/Sell/Hold ETF Zooms 42%; Magna Reports 3Q Loss, Slashes Dividend; U.S. Factory Orders Down 2.5%; Walgreen Same-store Sales Rise 2%, Yahoo Shares Upgraded; Oil Rises 12% on Production Cuts; Archer Daniels Midland Doubles Profit; UBS Turns Profit; Verizon Cleared to Take Over Alltel.
New Home Sales for September are announced today and this will sound like a broken record, but they are expected to disappoint. In the face of the frozen credit markets, I guess a drop of only 2000 units could be viewed as a small victory.
Investors need a solid defense right now, says Martin Denholm. This means holding high-dividend stocks. Consumer staples and telecoms industries are the best places to cherry pick strong companies. For a lower-risk alternative, try these two high-dividend ETFs (AMEX:SDY, PEY).
After watching its shares plunge more than 20% over the past month, International Business Machines Corp. (IBM) decided to embrace a different strategy with regards to its looming third-quarter profit report: It opted to get out in front of the flood of corporate earnings reports that are headed this way by providing Wall Street with a preview of its third-quarter results.
Tuesday morning I received an email from one of financial publishing’s legends. It said, “Market crashing! Last chance for today’s flash alert!” The email came at 10:00 AM, and I didn’t open it until 10:20, minutes before I go into lock down… my four-hour communications blackout during which I write – nothing else. Of course, “Market Crashing!” is an inflammatory subject line.
In Q2 2008 - for the first time ever - the Dow Jones Industrial Average posted quarterly losses instead of earnings. The Dow’s price-to-earnings ratio is now listed as “Nil,” leaving Wall Street without its favorite valuation metric for blue chip companies, says Casey Research’s Doug Casey.
There was some reprieve for U.S. shares yesterday. Helped by expectations that the government is ready to bail out stricken mortgage giants Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE), the markets closed mostly higher.
But the markets are still in turmoil, says Aaron Lehman in The Smart Profits Report. And the Fed is running out of options to save the system. But some stocks still offer investors great long-term potential returns.
Aaron is bullish on cellphone maker Nokia Corp (NYSE: NOK) and small biotech Enzo Biochem (NYSE:ENZ)…
Best Buy Goes Kiosk; Strike Averted at Verizon; Pilgrim’s Pride Shutdown; JDA Doubles Up; Japan’s Stimulus; Oil Hits New Three-Month Low; Waste Management Raises Bid; UPS in Talks with Competitor.
U.S. Federal Reserve Chairman Ben S. Bernanke and his fellow central bank policymakers will be back in the spotlight this week as the group convenes for its monthly monetary-policy meeting.
Verizon Helped by Wireless Sales; Kraft Produces Profit; Raytheon Teams with NASA; Ryanair Crashes and Burns; Dow Dives 240 points; Oil Rallies on Political Tension; White House Lowers Growth Estimate; Amgen Profit Slides.