Tag Archives: market

Market Minute: An August Rally for Stocks? Exxon Misses on Earnings

By DailyFinance Staff

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, July 31, 2013. U.S. stocks erased an earlier rally after the Federal Reserve refrained from indicating when it will reduce the pace of stimulus and data showed the economy grew more than projected in the second quarter. Photographer: Scott Eells/Bloomberg via Getty Images

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Stocks are set to rally this morning, but history offers a warning to investors. That and more is what’s in market news Thursday

The Dow industrials (^DJI) lost 21 points Wednesday, and the S&P 500 (^GPSC) was virtually flat, but the Nasdaq (^IXIC) gained nearly 10 points.

Scott Eells/Bloomberg via Getty Images

All three major averages posted solid gains for all of July. For the Dow, it was the seventh increase in eight months. So what can we expect from August? Well, since 1987, it’s been the worst month of the year for the market.

In earnings news, Exxon Mobil’s (XOM) quarterly earnings appear to have badly missed Wall Street expectations.

Procter & Gamble’s (PG) net fell by nearly half from a year ago, but still edged past expectations.

Animated filmmaker DreamWorks Animation (DWA), biotech company Affymetrix (AFFX), and the online review company Yelp (YELP) are all set to rally on better-than-expected earnings news.

But Whole Foods Market (WFM) and Marriott International (MAR) both issue disappointing results.

Ford (F), General Motors (GM), Toyota (TM) and other carmakers report sales for last month. Industry watcher Edmunds.com forecasts a double-digit gain from a year ago.

Shares of J.C. Penney (JCP) tumbled Wednesday on a report that a leading commercial lender has stopped backing deliveries to the chain. But the stock is set to rebound Thursday after J.C. Penney said those reports are false.

The dispute between J.C. Penney and Macy’s (M) over the rights to sell Martha Stewart (MSO) branded products could come to an end today. The two department stores are set to deliver closing arguments in their long-running case, and the judge could issue an immediate ruling.

The International Trade Commission is expected to rule today on Apple’s (AAPL) patent-infringement case against Korean rival Samsung. The companies have filed suit and countersuit against each other, with both sides claiming some victories in court.

And Starbucks (SBUX) has enlisted Google (GOOG) to make the Internet connection at its coffee shops up to 10 times faster than it is now.

Produced by Drew Trachtenberg.


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Source: FULL ARTICLE at DailyFinance

Samsung readies dual-mode 4G TDD/FDD LTE phones for China

Samsung Electronics is positioning itself to be one of the first handset vendors to tap into China’s upcoming market for 4G services by introducing new Galaxy S4 phones capable of operating on both FDD and TDD LTE networks. The South Korean company will bring FDD/TDD LTE dual-mode Galaxy S4 and Galaxy S4 mini phones to China once the country officially launches commercial 4G services, the company said on Thursday. Currently, most Western nations are deploying 4G networks using FDD LTE technology. But in China, the government has been heavily promoting the use of TDD LTE networks. The country’s largest carrier, China Mobile, with 740 million customers, has been building trial networks with the 4G standard.Local officials have said China will issue the 4G commercial licenses later this year. Research firm IDC expects that could be as soon as September. China is the world’s largest smartphone market, and Samsung reigns as the country’s top vendor with a 19 percent share, according to IDC. The research firm’s forecasts show that in 2014, a quarter of all smartphones shipped to China will be designed for 4G networks. By 2017, that figure will reach 50 percent Samsung’s dual mode phones will allow users to seamlessly roam over different LTE networks, the company said. The handset maker plans to launch other TDD-LTE devices in other markets in the third quarter.

Outside of China, TDD LTE networks are seeing growing adoption in certain nations in Europe, the Middle East, Asia and Oceania. 

In Australia, local carrier Optus will launch the FDD/TDD LTE dual-mode phones in a few weeks.

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Source: FULL ARTICLE at PCWorld

J.C. Penney: CIT Cash Advances Still Flowing to Suppliers

By The Associated Press

SAN BRUNO, CA - FEBRUARY 28:  A customer leaves a JCPenney store on February 28, 2013 in San Bruno, California.  J.C. Penney Co. reported a 31.7 percent drop in fourth quarter earnings with a net loss of $552 million, or $2.51 per share compared with a loss of $87 million, or $0.41 one year ago. (Photo by Justin Sullivan/Getty Images)

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Justin Sullivan/Getty Images

PLANO, Texas — J.C. Penney says that CIT, the largest lender in the clothing industry, is still supporting deliveries from its suppliers. The department store operator also says it has ample liquidity to run its business.

Shares rose more than 7 percent in premarket trading Thursday.

On Wednesday, a New York Post report said that CIT Group Inc. (CIT) had stopped providing financial support to small and large suppliers selling to J.C. Penney stores — for now. The report said CIT made the decision after meeting with J.C. Penney officials to examine the company’s books.

J.C. Penney Co. (JCP) said Thursday that CIT assured it that the newspaper report is untrue.

CIT is what the industry calls a “factor,” which makes cash advances to suppliers based on the goods they sell to the merchant. If vendors and factors become wary of a store’s creditworthiness, the retailer may have to pay suppliers cash upfront for goods, which could be a huge drain on liquidity. If suppliers stop shipping goods, it can be a death knell for a retailer.

Plano, Texas-based J.C. Penney said that merchandise from CIT-supported suppliers currently makes up less than 4 percent of its overall inventory for the year.

J.C. Penney said that it still has the support of all of its key vendors, which are continuing shipments to the company. The retailer, which has 1,100 stores, anticipates closing the second quarter with about $1.5 billion in cash on its balance sheet.

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Shares climbed $1.09, or 7.5 percent, to $15.69 in premarket trading about two hours before the market open Thursday.

J.C. Penney is trying to reverse its fortunes after disastrous results under a failed transformation plan implemented by its former CEO Ron Johnson. Johnson was ousted in April after 17 months on the job. The board brought back former CEO Mike Ullman, who has reintroduced frequent sales and is bringing back key merchandise under store names like St. John’s Bay.

Analyst Deborah Weinswig of Citi Investment Research says J.C. Penney won’t see a recovery in its business until 2014. The analyst said in a client note that she’s been surprised that “quick fixes,” like bringing back coupons, hasn’t led to stronger sales and doesn’t think this will change in the near term. The analyst lowered the chain’s rating to “Sell” from “Neutral” and cut its price target to $11 from $20.

J.C. Penney doesn’t comment on analyst reports.


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Source: FULL ARTICLE at DailyFinance

2014 Ford Fusion Hybrid / Energi

In their second year on the market, the 2014 Ford Fusion Hybrid and its plug-in hybrid sibling, the Fusion Energi, remain attractive and efficient versions of the stylish and well-received Fusion mid-size sedan that was all new for the 2013 model year. All Fusions share remarkably good handling, sleek lines that remind some of nothing… …read more

Source: FULL ARTICLE at The Car Connection

H&M Finally Begins Online Sales in the U.S.

By Reuters

H&M website clothing ecommerce internet etailing retailer

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By Anna Ringstrom

STOCKHOLM — Budget fashion retailer Hennes & Mauritz launched an e-commerce operation in the U.S. on Thursday, taking on rivals in the world’s biggest online market.

The initiative is highly anticipated and follows successive delays. But retail experts say H&M may struggle to make the kind of profits from U.S. e-commerce enjoyed by pricier rivals.

H&M has prospered in the United States without a big online presence and is mindful of the likely impact on profit margins of the high shipping and return costs associated with such a vast country.

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However, with more and more shoppers buying clothes from home, the Swedish firm is speeding up its online roll-out to capture a slice of the growing market.

H&M has grown fast in recent years in the U.S., its second-biggest market, but has twice pulled back from announced dates for the online launch, blaming unexpected complexities in setting up an operation well-integrated with its stores.

Meanwhile, its main rival Inditex and others such as online e-store ASOS have expanded in the market, while Amazon (AMZN) is pushing further into apparel after eBay (EBAY) prospered with its fashion offering.

“You don’t want to lose out on being the port of call for younger shoppers. So H&M should really get in there,” Planet Retail consultant Isabel Cavill said.

Apparel has become one of the fastest-growing online retail segments. H&M has e-stores in eight European countries and says they are now as profitable as its bricks-and-mortar shops.

In North America, a quarter of clothing sales will take place on the Internet in 2030, up from 7 percent in 2011, Goldman Sachs (GS) predicts. Researcher Euromonitor International sees the U.S. online apparel market more than doubling in a decade to $41 billion in 2017.

“Generations of shoppers are growing up for whom the multi-channel is a basic expectation,” said Kantar Retail consultant Bryan Roberts.

Mind the Returns

H&M has been struggling to work out a viable logistics model in the country, where many shoppers expect free deliveries.

“H&M is low-price, quite low-margin and makes it work by selling very high volumes. An issue with that is very high costs for shipping and, most significantly, returns. It’s a particular problem in the U.S.,” Conlumino consultant Neil Saunders said.

Up to half of fashion items sold online are returned. At H&M, a shopper may well buy up to three times as many items than at Zara or ASOS. Analysts place average prices at Zara at least 40 percent above H&M’s, with ASOS in between.

H&M’s U.S. online store offers free shipping but charges for returns. Items bought online cannot be returned in stores.

“I’m particularly surprised by the lack of multichannel. …read more

Source: FULL ARTICLE at DailyFinance

Three Simple Steps: How to Start Saving for Retirement

By Chuck Saletta

road signpost pointing to work and retire with person walking down the road

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Saving for your retirement is a big deal. Barring the income you might get from pensions (not what they once were) and Social Security (not likely to stay what it once was) all you’ll have is the money you save to last you the rest of your life. And it’s no secret that if your accounts run dry, it’s incredibly difficult for a retiree to rejoin the workforce a decade or more after leaving it.

Given all that, it’s understandable if you’re a bit worried about coming up with enough money that you’ll be able to retire comfortably on your terms. While building and maintaining that nest egg is a long-term commitment, it’s important to remember that you have the rest of your career to get there. With a solid plan and the flexibility to handle life’s curve balls, you can greatly improve your chances of retiring with a portfolio that can last as long as you do.

3 Steps to Get From Here to Retired

The toughest part of investing for retirement is that you face so many unknowns. How long will you live? What will the market do? Will your Social Security benefits get cut? How tame (or wild) will inflation be? Will your mental and physical health hold out, or will you need the help of a caregiver?

Those are all wise questions to ask, but unfortunately, they can’t be answered with any certainty until it’s too late to do anything about it. The best any of us can really do is develop a reasonable plan based on decent assumptions, and then adjust as life happens. With that in mind, here is a three-step foundation for a solid plan:

1. Set a target. What sort of lifestyle do you want in your retirement? Are you the kind of person who’d be happy rocking away on the stoop, watching the world go by? Or do you picture a retirement filled with world travel, box seats at the symphony, and generous philanthropic gifts to your favorite charities?

Whatever your plans, start by estimating your anticipated monthly expenses. Subtract from that your anticipated net Social Security check and any monthly pension payments you may get, then multiply the remainder by 300. That’s about how large your total portfolio will need to be to cover your costs. At that size, your portfolio should generate enough growth and income that you can take advantage of the 4 percent rule, a solid (if rough) estimate that will help reduce the odds that you’ll outlive your money.

2. Take what help you can get, and ramp up when you can. While that 300-times-monthly-expenses estimate may seem daunting, there are a number programs available to help you build your nest egg faster. Qualified retirement accounts like IRAs, 401(k)s, 403(b)s, and the government’s Thrift Savings …read more

Source: FULL ARTICLE at DailyFinance

Traditional Jobs Keep Fading. It's Time To Adapt.

By Elaine Pofeldt, Contributor  Is our future one where many of us will never have a traditional job again? A provocative new article in the Deloitte review on the “The Open Talent Economy” makes that sound like a very real possibility. The article describes a world where “balance sheet talent” (also known as full-time employees) increasingly works alongside contract and freelance workers in response to sweeping changes in the world’s economy. These folks are also supplemented by employees of organizations to which work is outsourced, workers involved in joint ventures who are responsible to more than one organization, and open-source talent–folks who provide free labor through crowdsourced efforts and the like. It’s a loose and ever-changing world where alliances between employers and workers are fleeting and ever-changing. “Global markets and products are driven by accelerating innovation and growing scale, and they demand talent pools and systems that can be rapidly assembled and reconfigured,” write authors Jeff Schwartz, Andrew Liakopoulous and Lisa Barry.”Business leaders and customers expect agility, scale, and the right skills on demand. These new business and talent models look less like integrated factories and companies and more like highly orchestrated networks and ecosystems with a multitude of approaches to mobilizing, orchestrating, and engaging talent, skills, leaders, and ideas.” Like it or not, many people are going to find themselves part of the growing freelance sector of the economy, the authors note. They point to the higher education sector, where the percentage of full-time faculty has shrunk from 56 percent to 39 percent over the last 35 years, while the number of adjuncts and part-time faculty has grown from 24 percent to 41 percent. To some, this type of future will sound dismal. But there’s an upside for workers. Companies are going to have to get creative about attracting, retaining and rewarding the best talent–even talent that isn’t a permanent line item on their balance sheet. They will still need smart, reliable, creative people to get things done, and there’s likely to be a lot of competition for workers who can deliver the goods. Many people resist and fear the possibility that some day, it will be next to impossible for most of us to fill out job application, go on interviews and find “a steady job.” But for those who embrace the inevitability that the way we work will change along with the global economy– and figure out how to make the most of new labor market conditions–the future could be a lot brighter. Many talented people and capable people are underpaid by their current employers. I suspect that if if they try the life of a free agent, they’ll find they’re worth a lot more than they think.   …read more

Source: FULL ARTICLE at Forbes Latest

Official: 2014 BMW 328d rated at 32/45 mpg

By Steven J. Ewing

2014 BMW 328d

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BMW still hasn’t released official fuel economy numbers for its diesel-powered 2014 328d, but now, those mileage ratings have been posted on the EPA’s FuelEconomy.gov website. As expected, the 328d is quite an efficient little machine, with the rear-wheel-drive sedan good for 32 miles per gallon in the city and 45 mpg highway. That even bests the 30/42 mpg of the smaller Volkswagen Jetta TDI.

The last time BMW offered a diesel 3 Series in our market, it was the six-cylinder 335d, which – while mighty quick and excellent to drive – was only offered as a rear-wheel-drive sedan and was rated at 23 mpg city and 36 mpg highway. For 2014, BMW will offer the 328d with optional xDrive all-wheel drive, though that reduces the fuel economy numbers to 31/43 mpg. Beyond that, the BMW will even sell you a 328d xDrive wagon, which nets the same 31/43 mpg rating, according to FuelEconomy.gov.

Look for the 2014 BMW 328d to hit dealerships this fall, and when it launches, it will be the only diesel offering in its class (until the next Mercedes-Benz C-Class arrives, anyway). Lexus and Infiniti will offer hybrid versions of the IS and Q50, respectively, but we’ve always had a taste for torque, and the 328d’s 2.0-liter engine with 180 horsepower and 280 pound-feet of twist shouldn’t disappoint.

2014 BMW 328d rated at 32/45 mpg originally appeared on Autoblog on Wed, 31 Jul 2013 19:00:00 EST. Please see our terms for use of feeds.

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Source: FULL ARTICLE at Autoblog

A New Android Owner's Guide to Gaming

Congrats on your sexy new Android-powered device!

Whether you’re an iOS veteran testing the Android waters with a Nexus 7 tablet or a non-techie that just ended up with a Samsung smartphone because that’s what the Verizon store recommended, you’ve now joined the ranks of hundreds of millions of other Android users.

You’ve probably already downloaded apps for Facebook and Twitter, something for music and photos, maybe a chat app… but let’s be honest. You’re going to spend a lot of time playing games on this thing.

This is where IGN comes in. With more than 100,000 Android games on the market, there’s undoubtedly a few for you, whether you just want to kill some time with a simple word game or own every console and have always thought all mobile games were just too casual.

Continue reading…

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Source: FULL ARTICLE at IGN Tech

Atwood Oceanics Larger Than S&P 500 Component JDS Uniphase Corp

By DividendChannel.com

In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Atwood Oceanics, Inc. (NYSE: ATW) was identified as having a larger market cap than the smaller end of the S&P 500, for example JDS Uniphase Corp (NASD: JDSU), according to The Online Investor. Click here to find out the top S&P 500 components ordered by average analyst rating » …read more

Source: FULL ARTICLE at Forbes Markets

WABCO Holdings Larger Than S&P 500 Component Owens-Illinois

By DividendChannel.com

In the latest look at stocks ordered by largest market capitalization, Russell 3000 component WABCO Holdings Inc (NYSE: WBC) was identified as having a larger market cap than the smaller end of the S&P 500, for example Owens-Illinois, Inc. (NYSE: OI), according to The Online Investor. Click here to find out the top S&P 500 components ordered by average analyst rating » …read more

Source: FULL ARTICLE at Forbes Markets

Westlake Chemical Corp Larger Than S&P 500 Component Interpublic Group of Companies

By DividendChannel.com

In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Westlake Chemical Corp (NYSE: WLK) was identified as having a larger market cap than the smaller end of the S&P 500, for example Interpublic Group of Companies Inc. (NYSE: IPG), according to The Online Investor. Click here to find out the top S&P 500 components ordered by average analyst rating » …read more

Source: FULL ARTICLE at Forbes Markets

MDU Resources Group Larger Than S&P 500 Component Joy Global

By DividendChannel.com

In the latest look at stocks ordered by largest market capitalization, Russell 3000 component MDU Resources Group Inc. (NYSE: MDU) was identified as having a larger market cap than the smaller end of the S&P 500, for example Joy Global Inc (NYSE: JOY), according to The Online Investor. Click here to find out the top S&P 500 components ordered by average analyst rating » …read more

Source: FULL ARTICLE at Forbes Markets

Lucio & Susan Co's Puregold Taps Into Middle Class Shopping Spree

By Naazneen Karmali, Forbes Staff

Lucio and Susan Co, a husband-and-wife team, have struck gold with their Puregold Price Club, a chain of over 150 hypermarkets, supermarkets and discount stores. Starting with one store in 1998, the Cos have expanded at a rapid pace, lately through acquisitions, to build Puregold into the country’s second-largest retailer, after Henry Sy’s SM group. Contrary to what its name suggests, a typical Puregold outlet stocks not fancy goods but a range of cheap merchandise aimed at a rising population of middle-class shoppers and owners of neighborhood convenience stores, known as sari-sari stores. (It claims to have over 230,000 of them as its customers.) Since 2010 the retailer’s revenues have doubled to $1.3 billion with net profits increasing fivefold to $65 million. Lucio’s retailing background is linked to running duty-free airport shops, including at Clark International Airport, a former American air force base northwest of Manila. With Puregold the Cos have earned both respectability and fabulous riches. Since 2011, when they took the company public, its shares have soared threefold. “Puregold is the country’s only pure play retail company, and it’s on an aggressive growth trajectory. Investors like that,” says Lauro Baja, country head of Philippines, which was a lead manager in its IPO. Puregold’s meteoric rise is linked to a domestic consumption boom that has been the mainstay of the Philippines’ growth story. If consumer confidence remains upbeat, the retail market is expected to grow to $75 billion by 2017. Other tycoons are lining up to cash in on the middle-class shopping spree. Recently, Land, Jaime Zobel de Ayala’s (No. 6) property unit, announced it was partnering with Puregold in a new joint venture to operate “midmarket” supermarkets. The Ayala firm last year teamed up with Bienvenido Tantoco Sr. (No. 40) to bring Japanese convenience store chain FamilyMart to the Philippines. John Gokongwei Jr. (No. 5) is preparing to list his Robinsons Retail Holdings, a franchisee of Toys “R” Us, among much else. The IPO is expected to be the country’s largest ever. –N.K. …read more

Source: FULL ARTICLE at Forbes Latest

Press Briefing by Press Secretary Jay Carney, 7/31/2013

By The White House

James S. Brady Press Briefing Room

1:04 P.M. EDT

MR. CARNEY: I know you all welcomed her back on Monday when I wasn’t here, but it is great to have Jamie Smith back, a new mom, and a new, proud mom at that. If you haven't seen her little girl, she is beautiful, truly beautiful. So it’s great to have Jamie back. And it’s great to be here. (Laughter.) Now she’s going to have to go straight to daycare and check in on her. (Laughter.) I remember how that felt.

It’s great to be back here with you today. I have, before I take your questions, just a couple of things I want to note for you.

First, on Tuesday, August 6th, the President will travel to the Phoenix, Arizona area, to continue talking with Americans about his better bargain for the middle class. On Tuesday in Tennessee, the President laid out one cornerstone of that vision, a plan to create good jobs that pay decent wages by investing in manufacturing and infrastructure. Next week in Arizona, the President will lay out his plan to continue to help responsible homeowners and those Americans who seek to own their own homes as another cornerstone of how we can strengthen the middle class in America.

That afternoon, the President will then travel to Burbank, California, to tape an appearance on the Tonight Show with Jay Leno. The following day, Wednesday, August 7th — there’s a Leno fan in the front row I can tell. (Laughter.) The following day, on Wednesday, August 7th, the President will travel to Camp Pendleton to visit with troops and their families and to thank them for their extraordinary service to our nation.

My next announcement is in here somewhere — I thought. So with that — it’s not a big one — (laughter) — it’s just a meeting I'm sure you’d be interested in. No, I just wanted to note — and I will as much as I can off the cuff that today is the 49th anniversary of Medicare, and millions and millions of Americans — senior citizens — have led richer and healthier lives because of this extraordinary program and its success.

The President has, through a number of actions, and most noticeably, through the Affordable Care Act, strengthened Medicare and provided more benefits to seniors. And we are seeing a reduction in the growth rate of costs in Medicare, historic change in that growth rate, and we've seen it, obviously, in the private sector health care market as well. And that is a direct benefit of the Affordable Care Act as we implement it. And so that is a welcome thing.

We have over the years experienced debates about Medicare, calls to see it wither on the vine by some, efforts to turn it into a voucher program, essentially efforts to disrupt, dismantle and, in some ways, ultimately defeat Medicare. …read more

Source: FULL ARTICLE at The White House Press Office