Tuesday Morning Coffee with TradingMarkets
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Good Morning! |
Alcoa Misses Earnings Target… AMD Cuts Jobs, Revenue Falls… IMF to Sell $13B of Gold… TomTom Warns in Europe… Intel Invests $500M in China… Nestle Looking for Deals after Selling Alcon for $39B.
Asian stocks down… European stocks down… Dollar mixed… And the futures are indicating a lower open.
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TradingMarkets 5 Business Stories You Need to Know |
Alcoa Net Falls Amid U.S. Slowdown – Wall Street Journal
Alcoa posted a 54% drop in profit despite fetching higher prices for its aluminum. Increasing energy and environmental costs are expected to offset future gains from higher sales prices for aluminum and alumina.
AMD to Cut Jobs, Sees Slower Growth – MarketWatch
Advanced Micro Devices plans to cut its work force by 10% as the chipmaker projected a bigger-than-expected decline in first-quarter revenue.
Simons, Mandel Post Biggest Drop in Hedge Fund Slump – Bloomberg
Hedge-fund titans James Simons and Stephen Mandel are showing the biggest losses of their careers in the $1.9 trillion industry’s worst start in more than a decade.
Private Equity to the Rescue – CNN Money
Possible deals at WaMu and National City could help repair the buyout crowd’s reputation.
WaMu Ditches the Wholesale Mortgage Biz – BusinessWeek
Word is the private equity cash infusion Washington Mutual is in line for comes with a condition: Cut the bank’s risk in mortgage lending.
For more stories as they happen, go to our Breaking News section.
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TradingMarkets 7 Stocks You Need to Know for Today |
Here are 7 stocks for traders for today from TradingMarkets.com:
- In deal news, Novartis AG
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NVS |
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PowerRating) agreed to purchase 77% of Alcon
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PowerRating) from Nestle AG for $39 billion. - And, Kinetic Concepts
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PowerRating) agreed to acquire LifeCell
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PowerRating) for $1.7 billion. - After the close, Alcoa
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PowerRating) reported earnings that missed estimates by $0.04. - While Advanced Micro Devices
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PowerRating) lowered guidance below consensus estimates. - Do you think Evergreen Solar
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ESLR |
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PowerRating) will close up or down on Wednesday? Play TradingMarkets Up or Down Daily Stock Contest and you could win over $12,000 in cash prizes predicting the direction of a stock!
For a list of today’s highest PowerRating stocks, click here.
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TradingMarkets 5 PowerRatings Stocks for Today |
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Company
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Symbol | PowerRatings |
| Air Methods | AIRM | 9 |
| The Boston Beer Company | SAM | 8 |
| Bankrate | RATE | 8 |
| Plexus | PLXS | 8 |
| The St. Joe Company | JOE | 8 |
| View More Stocks |
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TradingMarkets Tracking the Wizards |
Free Report! 5 Secrets to Short Term Stock Trading Success – TradingMarkets
There are times when the markets are so exuberant that buying high and selling higher works. But there is only one edge that has stood the test of time when it comes to short-term trading: buying weakness and selling strength.
FOREX Support and Resistance – TradingMarkets
All eyes will be on the EUR/USD this week. The currency pair has been consolidating for almost a month, after hitting an all-time high in March.
Trader Vic Returns (Part II) – TradingMarkets
In this second half of our conversation with “Trader Vic” we listen to his advice about the value of trading systems, how to choose which futures to trade, and what it takes today to successfully day-trade the S&P futures market.
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