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| Hewlett-Packard posts a 14% earnings rise, but investors aren't impressed
November 23, 2009 at 6:00 pm
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| Filed under: Company News, Technology, Earnings, Hewlett-Packard, Dell, IBM  Hewlett Packard (HPQ), the Silicon Valley pioneer, reported a 14% jump in profit Monday night, thanks to cost-cutting measures that more than offset an 8% reduction in revenue. The results weren't a surprise: HP provided guidance earlier this month, when it announced plans to acquire 3Com, the networking giant.
"We believe that HP will outperform the market," HP CEO Mark Hurd said in an upbeat appearance on CNBC. "Spending will continue to be prudent in 2010, but it will be better than 2009."
Despite the profit growth, investors weren't that impressed. HP shares were trading down over half a percent late Monday in after-hours trading.Continue reading Hewlett-Packard posts a 14% earnings rise, but investors aren't impressed Hewlett-Packard posts a 14% earnings rise, but investors aren't impressed originally appeared on DailyFinance on Mon, 23 Nov 2009 18:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Facebook spying costs Canadian woman her health benefits
November 23, 2009 at 5:30 pm
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| Filed under: Technology, Economy, People, Healthcare, Media, Facebook  On the surface, the twisted tale of Nathalie Blanchard seems to be yet another cautionary tale about how Facebook isn't really private, how social media can get you fired, and how the internet is a cruel mistress. On a deeper level, Blanchard's story indicates the growing popularity -- and danger -- of Facebook spies.
Blanchard, a Quebec employee of IBM, has been on longterm sick leave since Valentine's Day 2008, when she was diagnosed with major depression. For the ensuing year and a half, she has lived off monthly payments from her health insurance company, Manulife.Continue reading Facebook spying costs Canadian woman her health benefits Facebook spying costs Canadian woman her health benefits originally appeared on DailyFinance on Mon, 23 Nov 2009 17:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Campbell Soup's stock looks m'm, m'm good
November 23, 2009 at 4:45 pm
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| Filed under: Investing, Earnings, Campbell Soup Company, Stock Picks  When you're the world's biggest soup maker, it's important to have good stock.
Campbell Soup (CPB) reported Monday that its fiscal-first quarter earnings rose 17%, beating Wall Street's view by a hearty 6 cents a share. True, revenue dipped slightly, but that was more due to difficult year-over-year comparisons and the fact that Campbell rolled out its major soup-season marketing campaign a couple of months early this year.Continue reading Campbell Soup's stock looks m'm, m'm good Campbell Soup's stock looks m'm, m'm good originally appeared on DailyFinance on Mon, 23 Nov 2009 16:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Markets surge on home sales data, weak dollar
November 23, 2009 at 4:15 pm
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| Filed under: Economy A report of better than expected housing data and a weak dollar sent major stock indexes soaring Monday. The Dow Jones industrial average rose 1.5% and the Standard & Poor's 500 jumped 1.7% in early morning trading before retreating a bit before the close. The broad rally ended the market's three-day slide from last week and had traders wondering if investors were confident enough to return to the equity markets in droves.
The Dow Jones industrial average ($INDU) rose 132.79, or 1.29%, to 10,450.95. The Standard & Poor's 500 index rose ($INX) 14.86, or 1.36%, to 1,106.24, while the Nasdaq ($COMPX) composite index rose 29.97 or 1.4%, to 2,176.01.Continue reading Markets surge on home sales data, weak dollar Markets surge on home sales data, weak dollar originally appeared on DailyFinance on Mon, 23 Nov 2009 16:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| War for grounds: Coffee firms Peet's and Green Mountain sweeten Diedrich bids
November 23, 2009 at 4:00 pm
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| Filed under: Company News  There's a bidding war brewing over Diedrich Coffee (DDRX), the maker of single-serving cups of joe for home or office percolation.
Diedrich agreed on Nov. 2 to sell itself to Peet's Coffee and Tea (PEET), the java chain that is said to have inspired Starbucks (SBUX). But now Peet's has competition from Green Mountain Coffee Roasters (GMCR), owner of Keurig, the maker of the machine that brews Diedrich's cups.Continue reading War for grounds: Coffee firms Peet's and Green Mountain sweeten Diedrich bids War for grounds: Coffee firms Peet's and Green Mountain sweeten Diedrich bids originally appeared on DailyFinance on Mon, 23 Nov 2009 16:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Wall Street's no-longer-so-secret society: High speed trading gets scrutiny, rivals
November 23, 2009 at 3:30 pm
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| Filed under: Investing  An arms race has begun in the secretive world of high frequency trading, the practice of making a high number of trades netting small gains that can add up to big profits at the end of the day. Fueling the competition is the entry of more players into the field as well as technological advances that continue to enhance the speed and quality of trades. A sense of urgency comes from the fact that the industry is bracing for new regulation.
Becoming increasingly popular in the last couple of years, high frequency trading uses technology and computer algorithms to take advantage of sub-millisecond arbitrage -- or essentially the spread between the buy and the sell price of a stock or commodity that can appear in fractions of a second. But the trading technique has come under scrutiny for several reasons. Some fear that stocks could be manipulated by the practice. There's also the concern that high speed trading gives an unfair advantage to high-rollers and major institutional clients who can afford the expensive, high-tech setups needed to participate.Continue reading Wall Street's no-longer-so-secret society: High speed trading gets scrutiny, rivals Wall Street's no-longer-so-secret society: High speed trading gets scrutiny, rivals originally appeared on DailyFinance on Mon, 23 Nov 2009 15:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| People@Work: Social media gives job seekers a leg up in finding work
November 23, 2009 at 2:00 pm
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| Filed under: Economy, People  Welcome to People@Work, DailyFinance's new weekly workplace column written by career columnist David Schepp. In the weeks and months to come, we'll explore a wide range of topics, including workplace etiquette, worker productivity and strategies to get your career heading in the right direction. We'll also look to get your feedback and invite you to ask your career questions, which we'll pose to experts. So stayed tuned.
In this inaugural column, we take a look at social media and how it's becoming a powerful tool for finding work in an increasingly crowded job market.
No one needs to tell anyone who has lost a job recently that finding a new one in this economy is difficult. The good news is job seekers today have many more tools at their disposal than they did even five years ago. Beyond online job boards and resume submission, social media Web sites such as Twitter, Facebook and LinkedIn are playing an increasingly important role in helping unemployed workers and job-changers find someone they can connect with at virtually any company or organization.Continue reading People@Work: Social media gives job seekers a leg up in finding work People@Work: Social media gives job seekers a leg up in finding work originally appeared on DailyFinance on Mon, 23 Nov 2009 14:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Black Friday sales will stretch from Thursday to Monday this year
November 23, 2009 at 1:30 pm
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| Filed under: Company News, Economy, Wal-Mart Stores  If you're planning to get up early to shop the day after Thanksgiving, you'll have plenty of company. A raft of surveys released as we head into the final days before the holiday shopping kickoff show Black Friday crowds are expected to be as large as usual, but calmer and less free-spending than in past years. And customers will be shopping for toys, housewares and electronics.
Retailers are stretching out the Black Friday sales, starting earlier and spreading the specials throughout the holiday weekend, leading to Cyber Monday, the day online holiday shopping is expected to surge.Continue reading Black Friday sales will stretch from Thursday to Monday this year Black Friday sales will stretch from Thursday to Monday this year originally appeared on DailyFinance on Mon, 23 Nov 2009 13:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| How psychology is driving the economic rebound
November 23, 2009 at 12:30 pm
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| Filed under: People, Investing, Media  Earlier this year, Comedy Central's Stephen Colbert interviewed Jim Cramer about market psychology against a video background of puppies and kittens. Did it help the market rebound from its March lows? Who knows? But investors are sure feeling better about themselves.
The Chicago Board Options Exchange's Volatility Index (VIX), the so-called "Fear Index," has fallen this year as stock prices have rallied. It dropped recently to 22.19, down from a record high of 80.86 in November 2008, though it remains above its 20.28 average over its 19-year history, according to Bloomberg News. The Dow Jones Industrial Average has jumped 27 percent over the past six months.Continue reading How psychology is driving the economic rebound How psychology is driving the economic rebound originally appeared on DailyFinance on Mon, 23 Nov 2009 12:30:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Existing home sales jump 10.1% in October
November 23, 2009 at 12:00 pm
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| Filed under: Economy  The nearly year-long positive trend in the U.S. housing sector is continuing. Existing home sales surged 10.1% in October to a seasonally adjusted annual rate of 6.1 million units, the National Association of Realtors announced Monday. That's the highest level for existing home sales in more than two years.
The consensus of economists surveyed by Bloomberg News had been for October existing home sales to come in at a 5.7 million unit annualized rate. The annualized existing sales number for September was revised to a 5.54 million units, and for August to 5.1 million units. Existing home sales are also up 23.5% in the past 12 months.Continue reading Existing home sales jump 10.1% in October Existing home sales jump 10.1% in October originally appeared on DailyFinance on Mon, 23 Nov 2009 12:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Even with Microsoft pact, Murdoch can't go it alone
November 23, 2009 at 11:30 am
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| Filed under: Google , Microsoft, News Corp.  Give Rupert Murdoch this much: His plan to stick it to Google while simultaneously increasing his newspapers' revenues is clever. Very clever, in fact. But that doesn't mean it's good.
Murdoch is reportedly in talks with Microsoft (MSFT) about a pact whereby News Corp. (NWS) would de-index its news sites' content from Google (GOOG), making it invisible to the leading search engine, but visible to much smaller competitor Bing. To express its gratitude, Microsoft, which owns Bing, would pay News Corp. some unknown amount of money in return.Continue reading Even with Microsoft pact, Murdoch can't go it alone Even with Microsoft pact, Murdoch can't go it alone originally appeared on DailyFinance on Mon, 23 Nov 2009 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Upset about deceptive 'free' credit reports? FTC wants to hear from you
November 23, 2009 at 11:00 am
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| Filed under: Economy, People  A lot of people like the catchy jingle on the television ads for FreeCreditReport.com, but the monthly fee that accompanies the service offered on the site is less appealing. It seems that some people who sign up for a free credit report at the website don't realize they also signed up for Experian's Triple Advantage credit monitoring service, which costs $14.95 a month, until they get their next credit card bill.
The Federal Trade Commission wants to prevent the deceptive marketing of "free credit reports." In October, it announced new guidelines known as the Free Annual File Disclosures Rule, and now the FTC has extended the public comment period on the new rule, now called the Free Credit Report Rule, to December 7. The deadline was extended in response to a request by the Illinois Attorney's General's Consumer Protection Division because it needs more time to "compile data and file comprehensive comments." If you would like to comment on the proposed rule, you can do so at the FTC website.Continue reading Upset about deceptive 'free' credit reports? FTC wants to hear from you Upset about deceptive 'free' credit reports? FTC wants to hear from you originally appeared on DailyFinance on Mon, 23 Nov 2009 11:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Wikipedia volunteers dropping like flies
November 23, 2009 at 10:30 am
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| Filed under: Technology, Media  Volunteers who maintain Wikipedia are quitting in droves, burnt out from the stress of maintaining the free online encyclopedia.
According to the Wall Street Journal, the site had a net loss of 49,000 editors during the first three months of the year, 10 times the net loss of 4,900 during the same period a year earlier. Wikipedia officials, however, told the paper that they still have enough people to get the work done.
Continue reading Wikipedia volunteers dropping like flies Wikipedia volunteers dropping like flies originally appeared on DailyFinance on Mon, 23 Nov 2009 10:30:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Jamie Dimon for Treasury chief? Or will Geithner be Obama's Rumsfeld?
November 23, 2009 at 9:50 am
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| Filed under: Economy, JP Morgan Chase, American International Group, INC.  During the reign of America's 43rd president, calls came in to replace Defense Secretary Donald Rumsfeld, who took the blame for the administration's failure to deliver a quick military victory in Iraq. But George W. Bush refused to give in to those who wanted Rumsfeld's head until after the 2006 midterm election. Now, as another midterm election approaches, I wonder whether President Obama is taking the same attitude toward Treasury Secretary Tim Geithner.
In the interests of full disclosure, I have a very definite opinion about this issue. For example, when Geithner first testified in front of Congress about his plan for fixing the financial system, I thought he could have done better. And I've been disappointed with the administration's failure to sufficiently investigate the causes of the financial collapse and fix what went wrong. I attribute that to Wall Street's having effectively purchased the Treasury Secretary's position. Continue reading Jamie Dimon for Treasury chief? Or will Geithner be Obama's Rumsfeld? Jamie Dimon for Treasury chief? Or will Geithner be Obama's Rumsfeld? originally appeared on DailyFinance on Mon, 23 Nov 2009 09:50:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Microsoft, Murdoch talk team-up to freeze Google out of online news
November 23, 2009 at 9:30 am
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| Filed under: Company News, Technology, Media, Google , Microsoft, News Corp.  Can Microsoft (MSFT) gain much needed market share for its Bing search engine by signing a deal with News Corp. (NWS) and other news publishers to remove their web pages from the Google (GOOG) search index and give Bing an exclusive on links to The Wall Street Journal? That's the kernel of an argument which has been gaining traction online in the past month.
Certainly, such an arrangement is legal and possible. Google allows sites to opt-out of the index and even explains how to do this on its website. Whether the maneuver would actually work is a far trickier question. Sentiments remain mixed, with some observers saying freezing out Google would have zero effect on the search giant, but might harm the newspapers by reducing their traffic. After all, WSJ.com has remained behind a paid subscription wall since its inception.Continue reading Microsoft, Murdoch talk team-up to freeze Google out of online news Microsoft, Murdoch talk team-up to freeze Google out of online news originally appeared on DailyFinance on Mon, 23 Nov 2009 09:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks in the news: Hewlett-Packard, Cadbury, Ciena, LDK Solar
November 23, 2009 at 9:05 am
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| Filed under: Company News, Hewlett-Packard, Exxon Mobil, Google , Kraft Foods, Microsoft, Nokia, Apple, Campbell Soup Company, Valero Energy, Hershey, News Corp. Hewlett-Packard Co. (HPQ) is slated to report quarterly results after the closing bell. It pre-announced its fiscal fourth-quarter results of 99 cents a share on revenue of $30.8 billion last week when it acquired 3Com. Still, the market will be watching closely for signs of improving health in the high-tech arena after techs were hit hard last week.
Kraft Foods Inc. (KFT) may raise its offer for Cadbury Plc. (CBY) or offer more cash in its bid if rival takeover offers emerge, a source familiar with the situation said on Sunday. Hershey Co. (HSY), Italy's Ferrero and Switzerland's Nestle are now weighing takeover bids as well. But if no rival bidders emerge, Kraft could keep its bid unchanged, a source told Reuters. With investors hoping for a bidding war, Cadbury shares rose to a new high, up 2.5% ahead of the bell.Continue reading Stocks in the news: Hewlett-Packard, Cadbury, Ciena, LDK Solar Stocks in the news: Hewlett-Packard, Cadbury, Ciena, LDK Solar originally appeared on DailyFinance on Mon, 23 Nov 2009 09:05:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Daily Blogwatch: Why I'm wrong about Ron Paul being wrong; why we rally into Christmas
November 23, 2009 at 8:45 am
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| Filed under: Company News, Technology, Columns, Economy, Investing The most ridiculous ETFs of all time. ___________________ Weijei explains why James Altucher is wrong about Ron Paul being wrong. I disagree, of course, but welcome all opinions. ___________________ Goldman thinks the market will have a very jolly Christmas. And if Goldman thinks it, it must be true. ___________________ Continue reading Daily Blogwatch: Why I'm wrong about Ron Paul being wrong; why we rally into Christmas Daily Blogwatch: Why I'm wrong about Ron Paul being wrong; why we rally into Christmas originally appeared on DailyFinance on Mon, 23 Nov 2009 08:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks to join world markets rally as gold, oil rise, dollar declines
November 23, 2009 at 8:15 am
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| Filed under: Economy, Investing  U.S. stocks are set to follow world markets higher Monday as the dollar fell and commodity prices rose across the board, with gold setting yet another new high. Further, economists expect job losses to peak in the first quarter, which could keep rates low for some time. Housing data will also be in focus later this morning.
More here: Before the bell: Stock futures higher as gold sets another record, dollar slumpsStocks to join world markets rally as gold, oil rise, dollar declines originally appeared on DailyFinance on Mon, 23 Nov 2009 08:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Hedge fund star John Paulson rushes into gold, but investors should be wary
November 23, 2009 at 8:00 am
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| Filed under: Investing  The euphoria bubbling around gold may have gotten another big boost -- not that it needed one.
Hedge fund manager John Paulson is raising a new fund that will focus on gold and related items like miners and derivatives. The move by Paulson -- who made a fortune betting against real estate -- is seen as another vote of confidence for gold prices already near all-time highs.
But investors should avoid getting star struck and take a careful look at the volatile gold market. For starters, the mania surrounding gold now shows many of the telltale signs of a bubble. And while a skilled trader like Paulson might know how to ride and when to bail on the momentum, other investors could get caught by a sudden unwinding.Continue reading Hedge fund star John Paulson rushes into gold, but investors should be wary Hedge fund star John Paulson rushes into gold, but investors should be wary originally appeared on DailyFinance on Mon, 23 Nov 2009 08:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Chinese consumer product stocks soar, Chinese carmakers celebrate new models
November 23, 2009 at 7:00 am
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| Filed under: Economy, Investing  In Asia, stocks climbed higher Monday. The Shanghai Composite Index rose 0.9% and in Hong Kong, the Hang Seng Index added 1.4%. Japan's Tokyo Stock Exchange was closed today for Labor Thanksgiving Day, a celebration of workers' rights.
In China, consumer product stocks rallied with VV Food & Beverage leaping to its 10% daily limit. The company produces and markets milk and soybean products, along with a range of other food items like flour and oatmeal. According to China Daily, VV Food & Beverage is a key partner of Japanese company Otsuka Pharmaceutical. Together they distribute a "neutraceutical" fruit and soy snack bar called SoyJoy which capitalizes on the health-giving effects of soybeans.
Continue reading Chinese consumer product stocks soar, Chinese carmakers celebrate new models Chinese consumer product stocks soar, Chinese carmakers celebrate new models originally appeared on DailyFinance on Mon, 23 Nov 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| More incentives on new car purchases: Consumers win, car companies don't
November 23, 2009 at 5:05 am
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| Filed under: Company News, Honda Motor Co., Toyota  A new 2010 Chrysler with $4,000 cash back? Large incentive programs for new cars are usually set up to help dealers dump inventory they cannot sell or clear lots of last year's models as current model year cars and light truck come in.
Incentives like this have been one of the primary reasons that Detroit has had trouble making money. Overseas manufacturers like Honda (HMC) and Toyota (TM) are already seeing their profits hurt by a weak dollar, and if they have to match incentives from the U.S. car companies, they could lose even more money on many of their models.
Continue reading More incentives on new car purchases: Consumers win, car companies don't More incentives on new car purchases: Consumers win, car companies don't originally appeared on DailyFinance on Mon, 23 Nov 2009 05:05:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments | 
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Indian Prime Minister Manmohan Singh threw his support behind the U.S. dollar as the world's reserve currency and took an upbeat view of the U.S. economy in an interview on CNN's Sunday talk show 
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