Google’s Search for a Second Act

Google’s Search for a Second Act

By Jeff Macke | Breakout 2012/10/18

Google (GOOG) reports third quarter results after the bell today in one of the most highly anticipated events of this earnings season. According to Yahoo Finance the Street is expecting Google to have earned $10.65 per share on revenues of $11.9 billion. As usual, the numbers mean less than the guidance and updates on the company's growing stable of business lines.
With GOOG stock up 30% in the 3 months since their last report, traders have a lot riding on the name. In the attached clip IronFire Capital founder Eric Jackson tells Breakout what he wants to hear from the company tonight.

5 dividend stocks that insiders like

5 dividend stocks that insiders like

By Meena Krishnamsetty | MarketWatch 2012/10/18

Sometimes, dividend yields can look attractive because the company's stock price has dropped; this can be a concern if the lower stock price is tied to poorer business performance, which could in turn lead to dividend cuts. It's also generally a good idea to review a history of insider purchases and sales — particularly purchases, as they tend to be more predictive of future performance — when looking at stocks. Here are five stocks which pay high dividend yields, are at least flat year to date, and have seen at least one insider purchase in the last three months:
Aldo Zucaro, CEO of Old Republic International Corporation(ORI), bought about 10,000 shares of the company in August 2012. Old Republic is an insurer whose products include asset insurance (auto, marine, etc.) and specialty coverage. It is unprofitable when looking at the last four quarters, but grew its revenue slightly in the second quarter of 2012 and sell-side analyst consensus is for positive

Bank of America says housing has ‘begun to turn,’ but mortgages still bring banks headaches

Bank of America says housing has ‘begun to turn,’ but mortgages still bring banks headaches

Associated Press, Published: October 17

NEW YORK — For banks, mortgage-making kept profits humming before the financial crisis, then blackened reputations and stamped out earnings when the crisis hit.

Now, the business of mortgage lending is more of a mixed bag.
Bank of America, the country’s second-biggest bank, reported Wednesday that mortgage originations jumped over a year ago — up 18 percent to $21 billion. But the mortgage unit still lost money as the bank worked through problem mortgages issued before the crisis.

Amazon to hire more than 50,000 for holiday season

Amazon to hire more than 50,000 for holiday season

2012/10/16

(Reuters) - Online retail giant Amazon.com Inc said it will hire more than 50,000 seasonal employees at its fulfillment centers across the United States, as the company and its rivals gear up for the winter holiday season.
Retailers typically add seasonal staff in the weeks leading up to the holiday shopping season to work in stores and help in other areas, such as in distribution and fulfilling online orders.
"Temporary associates play a critical role in meeting increased customer demand during the holiday

Vikram Pandit to Step Down as Citigroup CEO

Vikram Pandit to Step Down as Citigroup CEO

By CNBC | CNBC
2012/10/16

Vikram Pandit announced Tuesday that he is stepping down as CEO of Citigroup. The board of directors named Michael Corbat its new chief executive.
President and Chief Operating Officer John Havens also resigned.
After finishing 5.5 percent higher Monday, shares of Citigroup (C) were lower in pre-market trading following the announcement. (Click here to get the latest quotes for Citigroup.)

10 Money Mistakes That Can Ruin a Marriage

10 Money Mistakes That Can Ruin a Marriage

By Renee Morad | Money Talks News – Fri, Oct 12, 2012

As anyone who’s been there knows, there’s no such thing as a friction-free marriage. But arguing can be ominous when the topic is money.
Couples who reported disagreeing about finances once a week were 30 percent more likely to get divorced than couples who reported disagreeing about them once a month, according to a Utah State University study.
In another survey, published in the Forum for Family and Consumer Issues, finances proved to be the leading cause of conflict in marriage, with 39 percent of respondents listing it as their primary issue and 54 percent as their secondary issue.
Here are 10 of the most common mistakes couples make when dealing with money.

1. Not talking enough about finances

Citigroup profit drops as it writes down brokerage unit

Citigroup profit drops as it writes down brokerage unit

2012/10/15
(Reuters) - Citigroup Inc said quarterly profit plunged on a $4.7 billion write-down of its stake in a brokerage operated by Morgan Stanley, but North American mortgage lending revenue increased and capital markets results rebounded.
The New York-based global bank on Monday said third-quarter net income was $468 million, or 15 cents a share, compared with $3.77 billion, or $1.23 a share, a year earlier.
Adjusted earnings, excluding the previously announced write-down and an accounting charge for the change in the value its debt, was $3.27 billion, or $1.06 cents a share, compared with $2.57 billion, or 84 cents a share, a year earlier.

Cramer's Earnings Preview for Next Week

Cramer's Earnings Preview for Next Week

By Drew Sandholm | CNBC

What follows is "Mad Money" host Jim Cramer's "Game Plan" for the week of Monday, Oct. 15.
MONDAY, OCT. 15
Citigroup (C) will report earnings before Monday's opening bell. Although earnings results from rivals JPMorgan Chase (JPM) and Wells Fargo (WFC) failed to excite Wall Street Friday, Cramer thinks the banking sector is still worth a look.
(Related: Big Opportunity in Banks: Pro.)
"The group is cheap. The companies are making tons of money and they will soon be returning billions of dollars to shareholders," Cramer said. "They're making gobs of cash thanks to the robust mortgage market."
Unfortunately for Citi, though, Cramer doubts it will have enough mortgage business to offset its weakness in emerging markets.
"I'd stick with JPMorgan and buy more Wells Fargo before I'd venture into the world of Citigroup, though," he added.
(Read More: Are JPMorgan's Revenue Springs Drying Up?)
TUESDAY, OCT. 16
Coca-Cola (KO) is scheduled to deliver earnings Tuesday morning.
"KO shot the lights out last quarter and I bet it's even better this time because the dollar has gotten weaker versus where it was the last time they reported," Cramer said. "That's going to make for a

How to Retire Rich: 6 Smart Steps at Ages 50-66

How to Retire Rich: 6 Smart Steps at Ages 50-66

Focus on the finish line. It's time to get serious about saving, and maybe cutting costs.
By Sandy Block and Jane Bennett Clark | Kiplinger

At this point, retirement isn't a far-off goal you'll worry about someday when you're ready for your second hip replacement. Unless you plan to work until you drop, retirement is staring you in the face.

That means it's time to get deadly serious about saving, especially if you haven't saved enough. And that's true for most people: Nearly a third of Americans age 55 and older have saved less than $10,000 for retirement, according to the Employee Benefit Research Institute. Only 22% have saved $250,000 or more.

IMF Sees European Banks Facing $4.5 Trillion Sell-Off

IMF Sees European Banks Facing $4.5 Trillion Sell-Off

By Sandrine Rastello and Simone Meier - Oct 10, 2012



The International Monetary Fund said European banks may need to sell as much as $4.5 trillion in assets through 2013 if policy makers fall short of pledges to stem the fiscal crisis, up 18 percent from its April estimate.

Foxconn workers strike over iPhone 5 demands, labor group says

Foxconn workers strike over iPhone 5 demands, labor group says

By Julianne Pepitone @CNNMoney October 6, 2012

NEW YORK (CNNMoney) -- Thousands of factory workers at Foxconn went on strike Friday to protest their working conditions on the iPhone 5's production lines, according to a report from an independent workers' rights organization.
Workers at Foxconn's plant in Zhengzhou, China, were furious after management enacted "overly strict demands" for production of Apple's (AAPL, Fortune 500) new iPhone 5, according to a report late Friday from China Labor Watch (CLW), a New York-based advocacy group that works closely with sources in China.

8 Social Security Myths Exposed

8 Social Security Myths Exposed

By Renee Morad | Money Talks News – Tue, Oct 2, 2012

Will Social Security be around when I retire?
That’s a question lots of Americans are probably asking themselves, though it’s certainly not the only thing we might be wondering when it comes to Social Security. Given our national retirement program’s handbook of 2,728 rules and countless interpretations, few participants are likely to thoroughly understand it.
To help shed light on Social Security, we recently set out to separate fact from fiction. Below are some of the most common Social Security myths, along with explanations:
Myth: Social Security funds are running dry, so I should collect as soon as possible

Credit card delinquencies drop to 11-year low

Credit card delinquencies drop to 11-year low

By Blake Ellis @CNNMoney October 4, 2012

NEW YORK (CNNMoney) -- Credit card customers are more responsible than they've been in over a decade.
Delinquencies on credit cards issued by banks dropped to the lowest level since 2001 during the second quarter, according to a report from the American Bankers Association released Thursday.

Only 2.93% of all bank card accounts were considered delinquent, meaning they were 30 days or more overdue. That's down from 3.08% in the first quarter and significantly lower than the 15-year average of 3.91%.

H-P tanks as Whitman sees more pain ahead

H-P tanks as Whitman sees more pain ahead

Shares fall 13% to its lowest level in 10 years in big selloff
October 03, 2012|Benjamin Pimentel, MarketWatch

SAN FRANCISCO (MarketWatch) — Shares of Hewlett-Packard Co. on Wednesday fell to their lowest level in a decade as Chief Executive Meg Whitman warned that it will take longer to turn around the beleaguered tech powerhouse.

Leap Left in Lurch as MetroPCS Picks T-Mobile Merger

Leap Left in Lurch as MetroPCS Picks T-Mobile Merger

By Tara Lachapelle and Olga Kharif - Oct 3, 2012
Leap Wireless International Inc. (LEAP) is now left to fend for itself as the combination of MetroPCS Communications Inc. and T-Mobile USA damps takeover prospects for the unprofitable wireless carrier.
Leap, which Chief Financial Officer Jerry Elliott said in August was considering options including a sale, has lost money every year since 2006 and analysts estimate it will keep posting deficits until 2016, according to data compiled by Bloomberg. Investors are giving little value to its operations, pushing Leap’s price-sales ratio to 0.15, the lowest among similar-sized U.S. wireless carriers, the data show.

Deutsche Telekom AG (DTE)’s deal to merge T-Mobile USA with MetroPCS to create a bigger No. 4 player in the U.S. wireless market drove Leap down 18 percent yesterday. Sanford C. Bernstein & Co. said Leap is left without a buyer right now because the most logical acquirer was MetroPCS, which also targets prepaid customers using the same network technology. A deal is unlikely soon because T-Mobile will need time to integrate the new assets and Leap’s $3.2 billion in long-term debt may deter Sprint Nextel Corp. (S), JPMorgan Chase & Co. said.

Euro Steady as Expectations of Spanish Aid Deal Persist

Euro Steady as Expectations of Spanish Aid Deal Persist

Published: Wednesday, 3 Oct 2012
By: Reuters

The euro steadied against the dollar on Wednesday and was underpinned by the belief that Spain will eventually request financial aid, helping soothe concerns around the biggest hotspot in the euro zone's debt crisis.
Such a move would be likely to spark demand for perceived riskier currencies, although on Tuesday Spanish Prime Minister Mariano Rajoy quashed speculation the country could apply for a bailout as soon as this weekend.

Strategists said while Rajoy's words had knocked demand for the euro, losses were limited by expectations Spain will ask for international assistance at some point in coming weeks. That would allow the European Central Bank to activate its bond-buying program and bring down Madrid's borrowing costs.

The single currency was close to flat at $1.2920, but remained above the three-week low of $1.28035 hit on Monday.

Gold Is Seen Advancing as Bernanke Renews Stimulus Pledge

Gold Is Seen Advancing as Bernanke Renews Stimulus Pledge

By Nicholas Larkin on October 02, 2012
Gold was seen falling in New York on speculation some investors will sell the metal and physical demand will slow after prices climbed to a 10-month high.

Gold rallied last month as central banks from Europe to Japan pledged more action and as miners went on strike in South Africa. The Fed will continue record stimulus even after economic expansion gains strength, Bernanke said in Indianapolis yesterday. It will publish on Oct. 4 minutes of its Sept. 13 meeting when it announced a third round of quantitative easing.

“Bullion investors might take a breather here,” Andrey Kryuchenkov, an analyst at VTB Capital in London, wrote today in a report. “Investors will be overly cautious about committing to new longs at highs for the year, while physical demand at these levels will only remerge on price dips.” Long positions are bets on higher prices.

Yahoo CFO to make up to $18 million over four years

Yahoo CFO to make up to $18 million over four years

Wed Sep 26, 2012

(Reuters) - Yahoo Inc Chief Financial Officer Ken Goldman will receive up to $18 million in salary, bonuses, restricted stock and stock options over the next four years, according to a regulatory filing.

Goldman will get $1.1 million in salary and bonus, and receive restricted stock units and performance-based stock options worth as much as $12 million that will vest over four years.

Increasing bank fees make free checking accounts increasingly harder to find

Increasing bank fees make free checking accounts increasingly harder to find

By Associated Press, Published: September 24/2012

CHICAGO — Truly free checking accounts are becoming rarer as banks add more fees to boost their profits.

Only 39 percent of non-interest checking accounts are free to all customers, according to survey results released Monday by financial data publisher Bankrate.com. That’s down from 45 percent last year and 76 percent in 2009.
Among other fees, the average monthly service fee on checking accounts is a record $5.48, up 25 percent from the Bankrate survey a year ago. Also, the average fee charged by an ATM operator to a non-customer rose 4 percent to a record $2.50, Bankrate said.

Bank of America Ramps Up Job Cuts

Bank of America Ramps Up Job Cuts

By DAN FITZPATRICK
September 20, 2012
Bank of America Corp. BAC +1.41% is accelerating a broad cost-cutting plan and has set a target of shedding 16,000 jobs by year's end—cuts that would see the company relinquish its title as U.S. banking's largest employer.
The reductions for the final six months of the year, outlined in a document given to top management, are part of a larger effort to retool Bank of America into a leaner and more focused enterprise. The plan is designed to make the company take less risk, generate more revenue out of existing customers and use an investment banking operation inherited from Merrill Lynch & Co. to become a major deal maker around the world.
On Main Street, the refocused company will have fewer branches and a smaller mortgage operation, the document shows.