Top 5 Warren Buffett Companies For 2014

On a day when the overall market is up less than a percent, the steady performer that is Wells Fargo (NYSE: WFC  ) �is up nearly twice as much and should close the day at a new 52-week high. While long-term investors shouldn't be nearly as interested in the daily movement of a share price, the bank definitely deserves more attention than it often gets. Here are two reasons I like the bank.

Support from great investors
By now, anyone who invests in Wells Fargo is bound to know that Warren Buffett and Charlie Munger are big fans of the bank, and the bank is Berkshire Hathaway's (NYSE: BRK-B  ) largest stock holding, a position which he has been adding to nearly every quarter. But Buffett is not alone in being a fan of the big San Francisco bank. Former Buffett protege Lou Simpson, who formerly managed the portfolio at GEICO, has nearly 8% of his portfolio�at SQ Advisors in Wells Fargo stock -- including a small addition during the first quarter -- making it his fourth-largest position.

Top 5 Warren Buffett Companies For 2014: Gentium SpA(GENT)

Gentium S.p.A., a biopharmaceutical company, focuses on the development and manufacture of its primary product candidate, defibrotide, an investigational drug based on a mixture of single-stranded and double-stranded DNA extracted from pig intestines. It develops defibrotide for the treatment and prevention of hepatic veno-occlusive disease (VOD), a condition that occurs when veins in the liver are blocked as a result of cancer treatments, such as chemotherapy or radiation, that are administered prior to stem cell transplantation. The company has completed a Phase III clinical trial of defibrotide for the treatment of severe VOD in the United States, Canada, and Israel; and a Phase II/III pediatric trial in Europe for the prevention of VOD. It also offers sulglicotide that is developed from swine duodenum, and has ulcer healing and gastrointestinal protective properties in South Korea; and urokinase, which is made from human urine to treat various vascular disorders, such as deep vein thrombosis and pulmonary embolisms. The company was formerly known as Pharma Research S.r.L. and changed its name to Gentium S.p.A. in July 2001. Gentium S.p.A. was founded in 1993 and is headquartered in Villa Guardia, Italy.

Advisors' Opinion:

• [By James Oberweis]

  Gentium Spa (GENT) is focused on the development and commercialization of its leading product, defibrotide, to treat certain complications arising from chemotherapy, and bone marrow and stem cell transplantation therapy.

• [By Jake L'Ecuyer]

  Shares of Jazz Pharmaceuticals Public Limited Company (NASDAQ: JAZZ) got a boost, shooting up 7.77 percent to $123.65 after the company announced its plans to buy Gentium SpA (NASDAQ: GENT) for around $1 billion.

Top 5 Warren Buffett Companies For 2014: Engro Corporation Limited (S44.SI)

EnGro Corporation Limited engages in the manufacture and sale of cement and building materials, and specialty polymers primarily in Singapore, Malaysia, and the People�s Republic of China. The company offers ground granulated blast furnace slag under the VCEM brand; ordinary Portland cement; Portland blast furnace cement; high slag blast furnace cement; ready-mixed concrete; dry mix; and construction chemicals. It also provides thermosetting synthetic resin and plastic materials used in various markets and application, including automotives, electrical and electronics, construction and civil engineering, household, and consumer and packaging; and carbon consultancy services. In addition, the company is involved in the provision and supply of workers; and in trading equity securities, and holding investments in venture capital funds and equity securities of various industries, such as information technology, wireless communications, software, semiconductors, medical device s and equipment, pharmaceutical drug development, nanotechnology, and specialty chemicals and materials industries. The company was formerly known as SsangYong Cement (Singapore) Limited and changed its name to EnGro Corporation Limited in February 2005. EnGro Corporation Limited was founded in 1973 and is headquartered in Singapore.

Hot Casino Companies To Own For 2014: Nuveen New York Quality Income Municipal Fund Inc.(NUN)

Nuveen New York Quality Income Municipal Fund, Inc. is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is managed by Nuveen Asset Management. It invests in the fixed income markets of New York. The fund invests in tax exempt municipal bonds. It employs fundamental analysis, with bottom-up stock picking approach, to create its portfolio. The fund benchmarks the performance of its portfolio against the Standard & Poor?s New York Municipal Bond Index and Standard & Poor?s Insured National Municipal Bond Index. Nuveen New York Quality Income Municipal Fund, Inc. was formed on July 25, 1991 and is domiciled in the United States.

Top 5 Warren Buffett Companies For 2014: Linde AG (LNAGF.PK)

Linde AG is a German company engaged in the gases and engineering sector. It operates two divisions: Gases and Engineering, as core divisions, as well as Gist. The Gases Division includes Healthcare, producing medical gases; and Tonnage, as its two global business units; as well as the two business areas Merchant and Packaged Gases, offering liquefied and cylinder gases, and Electronics. The Company�� products are used in the energy sector, for steel production, chemical processing, environmental protection and welding, as well as in food processing, glass production and electronics. The Engineering division offers planning, project development and construction of turnkey industrial plants used in fields, such as petrochemical and chemical industries, in refineries and fertilizer plants, to recover air gases, to produce hydrogen and synthesis gases, to treat natural gas, and in the pharmaceutical industry. As of August 13, 2012, the Company acquired Lincare Holdings Inc.

Top 5 Warren Buffett Companies For 2014: United Rentals Inc.(URI)

United Rentals, Inc., through its subsidiaries, operates as an equipment rental company. It offers approximately 3,000 classes of equipment for rent to customers comprising construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. The company?s fleet of rental equipment includes general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms consisting of boom lifts and scissor lifts; and general tools and light equipment, including pressure washers, water pumps, generators, heaters, and power tools. Its fleet also comprise trench safety equipment, such as trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers, and line testing equipment for underground work; and power and heating, ventilating, and air conditioning (HVAC) equipment, which consists of portable diesel generators, electrical distribution equipment, and temperature control equipment, including heating and cooling equipment. In addition, the company sells new and used equipment, as well as related contractor supplies, parts, and service; and offers repair, maintenance, and rental protection services. Further, it develops and markets RENTALMAN, an enterprise resource planning application for equipment rental companies; and INFOMANAGER, which offers solution for creating a business intelligence system. As of January 1, 2012, the company had an integrated network of 529 rental locations in the United States and Canada. United Rentals, Inc. was founded in 1997 and is headquartered in Greenwich, Connecticut.

Advisors' Opinion:

• [By Rick Munarriz]

  I went out on a limb last week, and now it's time to see how that decision played out.

  I predicted that People's United Financial (NASDAQ: PBCT  ) would close higher on the week. The regional banker had come up short on the bottom line in its two previous quarters, and the prior week closed with uninspiring earnings news out of the banking behemoths. People's United managed to match expectations on an operating basis, but the market was skeptical of financial services institutions this week. People's United Financial shares closed lower on the week. I was right. I predicted that the tech-heavy Nasdaq would outperform the Dow Jones Industrial Average. (DJINDICES: ^DJI  ) . This has been a tricky call lately, so how did it play out this time? Well, the market was rocked hard this week, and secondary stocks led the way down. The Nasdaq fell 2.7% on the week. The Dow managed to close just 2.1% lower. I was wrong. My final call was for United Rentals (NYSE: URI  ) to beat Wall Street's quarterly profit target. The provider of equipment rentals with 836 outlets across the country has been beating Wall Street estimates consistently over the past year. Why should that end? Analysts were looking for a profit of $0.47 a share during the quarter, and it came through with adjusted net income of $0.58. I was right.

  Two out of three? I can do better than that.

GBR: High-Flying Stock of the Day

 CHARLOTTE, N.C. (Stockpickr) -- Dallas-based New Concept Energy (GBR), formerly known as CabelTel International, is primarily an operator of oil and gas wells, in the U.S. and also owns mineral leases in Ohio and West Virginia. Interestingly, it also leases and operates Pacific Pointe Retirement Inn, a retirement community located in King City, Ore.

At the time of this writing, GBR is up 54% today, trading at $2.22, after trading earlier as high as $2.58.

Fundamentally, the stock indicates at this price level a trailing price-to-earnings ratio of only 2.5. However, a cursory glance reveals no forward guidance provided by the company, so there is no forward P/E figure. Book value per share shows as $3.50.

A glance at the monthly chart shows this stock has undergone several huge and very brief price spikes, historically, with concurrent huge volume spikes, relative to GBR's typically very low volume.

Based solely upon the previous similar occurrences, this current price spike could see significant upside from the current level.

Let the buyer beware, though. As can be seen in the monthly chart, each of these price and volume spikes has been immediately followed by a return to much lower price and volume levels, so I imagine that a number of traders/investors have found themselves trapped in their positions.

So if you decide to try to play this price and volume spike, be nimble.

-- Written by Ben Brinneman in Charlotte, N.C.

Trader Ben Brinneman, featured on MarketWatch, Bloomberg and Reuters, resides in Charlotte, N.C., and is the owner of C Squared Trading. Brinneman started his career trading bonds for U.S. Bancorp and was an analyst for a wealth management firm. Brinneman and his team at C Squared Trading have taught hundreds in a one-on-one mentorship setting via Skype or live in Charlotte.

You can follow some of their free trades and tips on Twitter at @csquaredtrading.

 

In the Mobile Fight With Apple, Google Just Went for the Jugular

Google (NASDAQ: GOOG  ) and Motorola want Apple's (NASDAQ: AAPL  ) lunch money in mobile, Fool contributor Tim Beyers says in the following video.

How will they get it? A new tool that automatically migrates contact and calendar data from Apple's iPhone to a new Moto-X, presuming you bought a custom AT&T-compatible model online. Handsets built for Verizon networks aren't yet eligible.

Is this a serious threat? Not in the near term, Tim says, but it's a short distance from Google importing contacts and music to working on a tool for matching all iTunes purchases in Google Play. Imagine how much easier it would be to sell the Motorola brand -- or Android generally -- if prospective switchers had no fear of losing years of music, TV, and movie purchases to a new platform.

Do you agree? Do you trust Google and the Moto-X enough to switch from Apple? Please watch the video to get Tim's full take and then leave a comment to let us know where you stand.

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Debunking the myth of the stock picker's market

Michael Daddino via Flickr Creative Commons

As if trying to time the stock market isn't hard enough, it's recently become trendy to try and predict when stock pickers will have their day in the sun again.

Both InvestmentNews and The Wall Street Journal ran articles this week about portfolio managers' and advisers' warming up to active managers because a “stock pickers” market is already here or could be right around the corner.

The “stock pickers” market, the legend goes, is driven purely by fundamentals, making it easy to pick winners and thereby kick the pants off an index.

Since the financial crisis, however, stocks have been driven by big macro events, like the eurozone crisis or the debt ceiling, making them all move in unison either up or down. That has largely rendered moot money managers' ability to pick the companies that will outperform.

At least that's the most popular excuse for why nearly three out of four large-cap mutual funds underperformed the S&P 500 from 2009 to 2012, according to Standard & Poor's.

The problem is that correlation, which measures how stocks move in relation to each other, doesn't actually tell you anything about the opportunities available to portfolio managers.

Even though correlations between stocks historically have been high, meaning stocks generally have moved in one direction — up — since the market bottomed, that doesn't mean they're moving at the same speed.

Every year since 2008, more than half the stocks in the S&P 500 have finished the year with a return of 10 percentage points or more or less than the index, according to research by The Vanguard Group Inc.

That means there are at least 250 stocks in any given year that a portfolio manager could choose to overweight or underweight to boost returns versus the index.

This year has been no different. Through Aug. 19, 262 companies have returns that are more than 10 percentage points more or less than the S&P 500's 15.4% gain, according to Lipper Inc.

For managers looking to make big bets, 165 companies from the S&P 500 have had a return of more than 10 percentage points better than the index, year-to-date. That includes well-known ones such as Netflix Inc. (up 180%), Best Buy Co Inc. (up 162%) and TripAdvisor Inc. (up 65%).

If making big bets isn't your thing, there has also been 97 companies that have underperformed the S&P 500 by more than 10 percentage points. The list includes household names like of J.C. Penney Co. Inc. (down 32.9%), U.S. Steel Corp. (down 23.9%) and Expedia Inc. (down 23.3%)

Even with the majority of stocks offering m! anagers a way to outperform one way or another, 56% of the 287 large-cap-core mutual funds tracked by Lipper are trailing so far this year, which shouldn't come as much of a surprise.

Management fees and trading costs, a general unwillingness to make big bets, and the fact that the market is hard to beat without any head winds have always been active managers' biggest problems. Correlation or lack thereof has nothing to do with those factors.

This isn't to say that everyone should be all passive all the time, but when it comes to picking an active manager, their process, their fees, and a long-time horizon should be the biggest factors in choosing them, not whether or not it's a “stock pickers” market. If you believe in active management, the data show it's always a “stock pickers” market.

'Mad Money' Lightning Round: Cisco Is Smokin'

Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.

NEW YORK (TheStreet) -- Here's what Jim Cramer had to say about some of the stocks callers offered up during the "Mad Money Lightning Round" Tuesday evening:

ARM Holdings (ARMH): "This stock is building an empire and is the semiconductor to own. I also like Intel (INTC)."

Baidu.com (BIDU): "Let's hold off on that one." Coach (COH): "I'm holding off. They have not delivered the past few quarters." Zoltek (ZOLT): "I've been looking at this one. These are basic American companies that are doing well." Cisco Systems (CSCO): "I think this one is coming back. Business is smokin'. Buy, buy, buy." Arena Pharmaceuticals (ARNA): "No, I've not liked this one for awhile. I don't want to touch this stock." To read a full recap of "Mad Money" on CNBC, click here. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

How many stocks should you have in your portfolio?

To be fair though, a loss of a certain size was all but inevitable. Simply because the magnitude of the crisis and the asset deflation that followed was one of the biggest that the world has ever seen. But some of the portfolios capitulated really badly. This even includes managers with stellar long term track records. And that was perhaps unacceptable we believe.

We are sure that a lot of analysis would have gone into finding out why some of the well known stock portfolios fared so miserably. We believe that the poor relative performance could be put down to two main things. One is of course insufficient diversification and the second would be staying fully invested i.e. not having a sufficient enough cash buffer.

At first glance, both of these criteria would appear to be subjective. In other words, there isn't a single number to which all investors would want to converge. However, we can study the principles followed by some of the most successful investors of our times to get an idea as to what should be the ideal number stocks in a portfolio and also the optimum cash level.

As for the first factor, thoughts from Seth Klarman, a very successful investor and author, would be useful we guess. Klarman has argued a lot of times that a stock should form no more than 5%-6% of one's portfolio. And only in cases where the confidence with respect to a stock is very high should the size reach 10%. Anything more than that and we are exposing ourselves to risk he believes. Besides, if a stock forms only 1% of a portfolio, then it is too small a position to make any meaningful difference to the overall performance as per him.

Then there's Mohnish Pabrai who suffered very badly during the crisis. One of the big lessons that he learnt from the crisis was the fact that no position should make up more than 10% of one's portfolio. Clearly, a thought very similar to that echoed by Klarman.

We believe even research has shown that in order to ensure sufficient diversification , around 12-15 stocks are sufficient. The risk reduction trade off really does not work in investor's favour beyond these numbers. There is also the additional problem of difficulty in keeping track of each investment if the number of stocks go too high. Thus, from all possible angles, having a portfolio of no more than 12-15 stocks looks like the ideal way to go.

If the issue of determining the correct level of diversification was tricky, we believe arriving at the right level of cash is even more difficult. This is because while some investors swear by the habit of remaining 100% invested at all times, others like to maintain a healthy cash level no matter how attractive the opportunities out there.

However as the financial crisis has shown, remaining 100% invested at all times may not be the best of strategies. Market downfalls happen without prior notice and the extent of correction too can go lower than most people can imagine. Thus, in order to take advantage of such occasions, having a sufficient cash buffer is must we believe. Agreed that holding cash at all times may lead to slightly lower returns than an all stock portfolio when the markets are cheap. But we should be willing to accept this scenario in exchange for not letting our portfolio suffer too much during a strong market correction along with the opportunity to make further investments.

Thus, having cash balance to the tune of 15%-20% of one's portfolio value at all times does look like a prudent strategy to adopt. Of course, during times when the number of attractive ideas is not big enough, the cash holdings could go up even further.

To conclude, as Joel Greenblatt has pointed out, one must be diversified enough to survive bad times or bad luck so that skill and good process can have a chance to pay off over the long term. Very wise words indeed.

Equitymaster.com is India's leading independent equity research initiative

Did Weibo Put Sina Back on the Map?

With shares of Sina Corporation (NASDAQ:SINA) trading at around $56.42, is SINA an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let's analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

C = Catalyst for the Stock's Movement

Sina was once top dog in the Internet Software & Services industry in China. That was until the competition became fierce. However, Sina now has Weibo, which is pretty much the Chinese version of Twitter.

At the end of 2012, Weibo had 503 million registered users. Since that's a difficult number to comprehend, think of it this way – that's 200 million more people than the entire United States population! Needless to say, there will be many monetization opportunities via Weibo.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

Weibo's traffic has steadily increased over the past three months. However, it's not dominating as much as it has in the past. Over the past three months, pageviews-per-user has declined 5.60 percent, time on-site has declined 4 percent, and the bounce rate has increased 2 percent. Never fear, though, Alibaba Group Holding Ltd. recently agreed to buy an 18 percent stake for $586 million. This will help advertising sales.

As far as Sina itself goes, traffic has been relatively stagnant over the past three months. Also over the past three months, pageviews-per-user has declined 3.46 percent, time-on-site has declined 1 percent, and the bounce rate has increased 3 percent. These aren't worrisome numbers; they're just not inspiring.

Sina has consistently improved revenues on an annual basis, and it showed a profit in 2012 after two years of losses. Sales are also expected to increase 18 percent this year. As far as analysts go, they like the stock: 17 Buy, 5 Hold, 3 Sell.

There are three big concerns for Sina. One is increased competition that will not back down. Two is poor valuation (trading at 121 times earnings). Three is that the stock will not be resilient in weak markets.

Now let's take a look at some comparative numbers. The chart below compares fundamentals for Sina, Sohu.com Inc. (NASDAQ:SOHU), and Baidu (NASDAQ:BIDU). Sina has a market cap of $3.77 billion, Sohu has a market cap of $2.05 billion, and Baidu has a market cap of $31.23 billion.

	SINA	SOHU	BIDU
Trailing   P/E	121.07	25.55	18.47
Forward   P/E	32.06	15.60	14.29
Profit   Margin	6.00%	7.71	44.21%
ROE	2.89%	14.13	44.08%
Operating   Cash Flow	$32.61   Million	N/A	N/A
Dividend   Yield	N/A	N/A	N/A
Short   Position	N/A	8.20%	N/A

 

Let's take a look at some more important numbers prior to forming an opinion on this stock.

E = Equity to Debt Ratio Is Strong         

The debt-to-equity ratio for Sina is stronger than the industry average of 0.10. None of these companies have debt concerns, but Sina is at the top of the class in this area.

	Debt-To-Equity	Cash	Long-Term Debt
SINA	0.00	$713.60 Million	$0
SOHU	0.19	$951.67 Million	$270.50 Million
BIDU	0.40	$5.39 Billion	$1.90 Billion

 

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T = Technicals Are Strong  

The numbers below can be deceiving. The last two years as a whole have been difficult for Sina. The past year also hasn't been impressive. The real strength has been over the past month, but can it continue?

	1 Month	Year-To-Date	1 Year	3 Year
SINA	18.52%	12.29%	-0.90%	70.88%
SOHU	14.43%	13.71%	14.05%	18.80%
BIDU	6.83%	-10.96%	-31.32%	33.68%

 

At $56.42, Sina is trading above all its averages.

50-Day   SMA	49.95
100-Day   SMA	51.30
200-Day   SMA	53.01

 

E = Earnings Have Been Inconsistent                               

Earnings have been inconsistent, but once again, Sina did show a profit in 2012. Revenue has steadily increased for three years.

	2008	2009	2010	2011	2012
Revenue   ($)in   millions	369.59	358.57	402.62	482.83	529.33
Diluted   EPS ($)	1.33	6.95	-0.31	-4.64	0.47

 

When we look at the previous quarter on a year-over-year basis, we see an increase in revenue and a decline in earnings. Both revenue and earnings declined on a sequential basis.

	12/2011	3/2012	6/2012	9/2012	12/2012
Revenue   ($)in   millions	133.37	106.22	131.60	152.38	139.13
Diluted   EPS ($)	0.14	-0.21	0.49	0.14	0.04

 

Now let's take a look at the next page for the Trends and Conclusion. Is this stock an OUTPERFORM, a WAIT AND SEE, or a STAY AWAY?

T = Trends Might Support the Industry

This simply comes down to the Chinese economy. Is it slowing down? Is it rebounding? The reports seem to change every day.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

Conclusion

Weibo has put Sina back on the map. As long as Sina doesn't make a critical error, Weibo should remain incredibly valuable. However, due to poor valuation and a questionable Chinese economy, Sina is a neutral WAIT AND SEE.

Interesting Moves at Crocs

In the following video, Fool contributor Matt Thalman discusses how the company known for its fashion faux pas rubber clog is attempting to change consumers' opinions about what it has to offer. Crocs (NASDAQ: CROX  ) is making some big moves, and major strides toward strengthening its offerings and sales. With more than 300 different styles, the company is no longer just the rubber clog with holes in it. And, while that one product still generates more than 47% of the company's revenue, in other countries, it's not seen as such a terrible fashion statement as it is here in the U.S. The company is using that international strength and brand recognition as a way to grow its business.

The Motley Fool's chief investment officer has selected his No. 1 stock for this year. Find out which stock it is in the special free report: "The Motley Fool's Top Stock for 2013." Just click here to access the report and find out the name of this under-the-radar company.

Apple Reports Up to 5,000 Government Requests for Data

Following recent controversy surrounding the U.S. government's "Prism" program, Apple (NASDAQ: AAPL  ) has detailed its policies and information surrounding customer privacy and government data collection.

After obtaining permission from the federal government to release the information, the company said that between Dec. 1, 2012, and May 31, 2013, it had received between 4,000 and 5,000 requests from U.S. law enforcement for customer data, which included 9,000 to 10,000 specific accounts or devices. The requests came from federal, state, and local authorities and related to criminal investigations and national security, according to Apple.

"The most common form of request comes from police investigating robberies and other crimes, searching for missing children, trying to locate a patient with Alzheimer's disease, or hoping to prevent a suicide," said the company. Apple said it does not provide any government agency with direct access to its servers, and any government agency requesting customer content must get a court order.

Apple said it evaluates each request and only releases the minimum amount of data possible, and occasionally refuses to release information if it sees "inconsistencies or inaccuracies." The company also noted that certain data, such as iMessage and FaceTime conversations, are protected with end-to-end encryption that not even Apple can decrypt. Apple also doesn't store location data, Map searches, or Siri requests in "any identifiable form," it said.

The disclosure follows similar ones from peers like Microsoft and Facebook. For the six-month period ending Dec. 12, 2012, Microsoft received between 6,000 and 7,000 national or criminal security warrants, subpoenas, and orders, that company said. Facebook reported that it received between 9,000 and 10,000 government security requests for data during the six-month period ending Dec. 31, 2012. The security requests affected between 18,000 and 19,000 customer accounts, according to Facebook.

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Dow May Open Flat After Friday's Record Close

LONDON -- Stock index futures at 7 a.m. EDT indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI  ) may open down by seven points this morning, while the S&P 500 (SNPINDEX: ^GSPC  ) may open a single point lower. CNN's Fear & Greed Index has surged higher and currently sits at 91, suggesting that the bullish sentiment may be nearing a peak.

In London, markets opened strongly this morning, and the FTSE 100 is up 0.39% as of 7:30 a.m. EDT. Germany's DAX has continued its recent strong run, gaining a further 0.36%. Stock markets in the eurozone's recession-bound southern states all lost ground following weak economic data. In Greece, new data showed that industrial orders were down by 12.7% in March compared with the same period last year, while in Italy, industrial orders were down by 10% on a year-on-year basis. Greece's Athens Stock Exchange General Index is down 3% at the time of writing, while Italy's FTSE MIB is down by 0.8%.

U.S. trading may start slowly, as there are no major economic reports due this morning and the earnings calendar is nearly empty. Companies that are scheduled to provide quarterly updates include Campbell Soup, which is expected to report earnings of $0.56 per share before markets open this morning. Should Campbell Soup disappoint investors, its shares could be heavily traded, as the firm's stock has risen by 36% so far this year to outperform its peers. Campbell is also expected to provide updated guidance today -- it has previously projected earnings of between $2.51 and $2.57 for the 2013 fiscal year.

Other stocks that may be actively traded today include Qihoo 360 Technology. The Chinese Internet security firm reported quarterly earnings of $0.14 per share earlier this morning, beating consensus forecasts of $0.13 per share. Qihoo's revenue was up 58% compared with the same period last year, also beating expectations, and the firm has updated its second-quarter guidance to between $142 million and $144 million. Later today, TiVo is due to report its latest quarterly earnings, as are Urban Outfitters, Guess, and Big Lots.

Yahoo! stock is 2% higher in premarket trading this morning following reports that the Internet giant is about to buy blogging site Tumblr for $1.1 billion, although neither company had confirmed the deal at the time of writing.

Finally, let's not forget that the Dow's daily movements can add up to some serious long-term gains. Indeed, Warren Buffett recently wrote: "The Dow advanced from 66 to 11,497 in the 20th Century, a staggering 17,320% increase that materialized despite four costly wars, a Great Depression and many recessions." If you, like Buffett, are convinced of the long-term power of the Dow, you should read "5 Stocks To Retire On." Your long-term wealth could be transformed, even in this uncertain economy. Simply click here now to download this free, no-obligation report.

BBRY Stock Gains Even as BlackBerry Posts an Epic Loss

After a horrendous year, BlackBerry (BBRY) did get some nice news today. BBRY stock is up around 12% as of this writing, following the release of third-quarter BlackBerry earnings.

And those gains for BBRY stock came even though the company posted a whopping $4.4 billion net loss. Then again, Wall Street was expecting a horrible quarter. And over the last three months, BBRY stock has still lost around 40% of its value.

Even when excluding one-time items and restructuring charges, the BlackBerry earnings report still showed a loss of $354 million or 67 cents a share. What’s more, BBRY revenues plunged from $2.7 billion to $1.2 billion, which was below the analyst consensus of $1.59 billion.

Tough Times for BBRY Stock

For the most part, BBRY is really just trying to stabilize the situation. To this end, interim CEO John Chen has written off $2.7 billion for unsold devices (much of which were BlackBerry Z10 phones), engaged in aggressive cost cutting, fired various senior executives and pulled off a capital raise of $1 billion (in the form of convertible notes).

As a result, the cash position has expanded from $2.6 billion to $3.2 billion. (Keep in mind that the market cap for BBRY stock is only about $3.5 billion!)

But the main priority for Chen is to somehow get back to profitability. So he has struck BlackBerry a five-year partnership with Foxconn Technology to outsource the manufacturing of devices. All in all, this should help improve the cost position and provide some stability for BBRY stock.

Still, the real problem is that BBRY needs to start creating phones that people want to buy. But unfortunately, the product offerings are lackluster, especially in comparison to alternatives from rivals like Apple (AAPL) and Samsung (SSNLF). Even Microsoft (MSFT) has become a factor; newly owned Nokia has gotten traction with its Lumia models.

As for BlackBerry, in the latest quarter, the company sold only 4.3 million units. Of these, about 3.2 million came from older models.

For the most part, it is really too early to get a sense of BBRY stock. Again, the company needs to get its product mojo back. But with third-quarter BlackBerry earnings, there were no signs of this. At the same time, it is far from clear if it can monetize its enterprise software and messaging services at scale.

So given all this, it's probably best to avoid BBRY stock for now.

More on BBRY Stock BBRY – Can John Chen Turn Around This Busted Heap? New BBRY CEO Pens Open Letter to BlackBerry Community BlackBerry Earnings: Get Your Popcorn Ready for This Disastrous Finale! Don't Get Sucked In By BlackBerry's Price Tag

Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.

Former Microsoft Manager Charged with Insider Trading

Andrew Harrer/Bloomberg via Getty Images SEATTLE -- The U.S. Department of Justice and the Securities and Exchange Commission charged two Seattle men Thursday with 35 counts of illegally trading on private Microsoft information, which prosecutors said netted the pair more than $390,000 in illicit profits over an 18-month period. Brian Jorgenson, a senior portfolio manager at Microsoft (MSFT), passed information to a former colleague, online day trader Sean Stokke, who executed the trades, according to prosecutors. According to complaints filed by the department and the SEC, the scheme began in April 2012 when Jorgenson, 32, found out through his job in Microsoft's treasury department that the software company was planning a multimillion dollar investment in the digital business of bookseller Barnes & Noble (BKS). He passed that information to Stokke, now 28, who bought options betting that Barnes & Noble stock would rise. It jumped about 50 percent when the investment was announced in late April, reaping Stokke profit of more than $184,000, prosecutors said. Stokke, who had previously worked with Jorgenson at an asset management company, then shared his profits with him via envelopes stuffed with $10,000 in cash, according to the charges, which resulted from probes by the Federal Bureau of Investigation and the SEC. The pair repeated a similar process twice more in the following 18 months, prosecutors said, by buying options on Microsoft stock or an exchange-traded fund prior to earnings that Jorgenson knew would surprise Wall Street. Together, the two men took in another $208,000 in profit from the trades, according to the SEC complaint, which indicated they planned to start their own hedge fund. The Justice Department's insider trading charges are criminal and could result in up to 20 years in prison and $5 million in fines for both men. The SEC's charges are civil and call for financial penalties and the return of illegally gained profit. "Abusing access to Microsoft's confidential information and generating unlawful trading profits is not a wise or legal business model for starting a hedge fund," said Daniel Hawke, chief of the SEC Enforcement Division's Market Abuse Unit. Microsoft said it had already fired Jorgenson. "Our company has zero tolerance for insider trading. We helped the government with its investigation and terminated the employee," a Microsoft representative said in an emailed statement. Barnes & Noble had no comment.

Stocks Going Ex-Dividend on Friday, December 20 (KAMN, AWH, PNY, More)

Ex-dividend dates are very important to dividend investors, since you must purchase a stock prior to its ex-dividend date in order to receive its upcoming dividend payout. For more information, check out Everything Investors Need to Know About Ex-Dividend Dates.

Below we highlight five big-name stocks going ex-dividend on December 20, 2013.

1. Kaman Corp

Kaman Corp (KAMN) offers a dividend yield of 1.66% based on Wednesday's closing price of $38.51 and the company's quarterly dividend payout of 16 cents. The stock is up 0.86% year-to-date. Dividend.com currently rates KAMN as “Neutral” with a DARS™ rating of 3.4 stars out of 5 stars.

2. Alliance World Assurance

Alliance World Assurance (AWH

4 Tech Stocks Under $10 to Watch

DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

>>5 Stocks Ready to Break Out

Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

>>5 Hated Earnings Stocks You Should Love

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.

Cimatron

Cimatron (CIMT) designs, develops, manufactures, markets and supports a family of modular, high-performance, CAD/CAM software products. This stock closed up 6.9% to $7.90 in Tuesday's trading session.

Tuesday's Range: $7.20-$7.97

52-Week Range: $4.02-$12.88

Thursday's Volume: 315,000

Three-Month Average Volume: 236,391

From a technical perspective, CIMT spiked sharply higher here with above-average volume. This move briefly pushed shares of CIMT into breakout territory, since this stock flirted with some near-term overhead resistance at $7.91. Shares of CIMT tag an intraday high of $7.97 before closing just below that breakout level at $7.90. Market players should now look for a continuation move higher in the short-term if CIMT can manage to take Tuesday's high of $7.97 with strong upside volume flows.

Traders should now look for long-biased trades in CIMT as long as it's trending above $7.30 or above Tuesday's low of $7.20 and then once it sustains a move or close above $7.97 with volume that hits near or above 236,391 shares. If we get that move soon, then CIMT will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $8.70, or even $8.95. Any high-volume move above those levels will then give CIMT a chance to tag $10.

DragonWave

DragonWave (DRWI) is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. This stock closed up 6.1% to $1.39 in Tuesday's trading session.

Tuesday's Range: $1.33-$1.48

52-Week Range: $1.08-$3.74

Thursday's Volume: 1.56 million

Three-Month Average Volume: 707,767

From a technical perspective, DRWI spiked sharply higher here back above its 50-day moving average of $1.37 with strong upside volume. This stock has been uptrending for the last month and change, with shares moving higher from its low of $1.08 to its recent high of $1.53. During that move, shares of DRWI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DRWI within range of triggering a big breakout trade. That trade will hit if DRWI manages to take out Tuesday's high of $1.48 to some more near-term overhead resistance at $1.53 with high volume.

Traders should now look for long-biased trades in DRWI as long as it's trending above Tuesday's low of $1.33 or above more near-term support at $1.27, and then once it sustains a move or close above those breakout levels with volume that hits near or above 707,767 shares. If that breakout triggers soon, then DRWI will set up to re-test or possibly take out its next major overhead resistance levels at $1.86 to $2.18.

On Track Innovations

On Track Innovations (OTIV) designs, develops, and markets contactless microprocessor-based smart card solutions to customers in Africa, Europe, the Far East, the Americas and Israel. This stock closed up 6% to $3.15 in Tuesday's trading session.

Tuesday's Range: $3.00-$3.37

52-Week Range: $0.80-$3.70

Thursday's Volume: 1.76 million

Three-Month Average Volume: 491,922

From a technical perspective, OTIV spiked sharply higher here right above some near-term support at $2.93 with strong upside volume. This move briefly pushed shares of OTIV into breakout territory, since the stock flirted with some near-term overhead resistance at $3.31. Shares of OTIV tag an intraday high on Tuesday of $3.37 before closing just below that breakout level at $3.15. Market players should now look for a continuation move higher in the short-term if shares of OTIV manage to take out Tuesday's high of $3.37 with strong volume.

Traders should now look for long-biased trades in OTIV as long as it's trending above Tuesday's low of $3 or above more near-term support at $2.93 and then once it sustains a move or close above $3.37 with volume that hits near or above 491,922 shares. If we get that move soon, then OTIV will set up to re-test or possibly take out its 52-week high at $3.70. Any high-volume move above that level will then give OTIV a chance to trend north of $4.

Yingli Green Energy

Yingli Green Energy (YGE) engages in the design, development, marketing, manufacture, installation and sale of photovoltaic products. This stock closed up 11.8% to $4.83 in Tuesday's trading session.

Tuesday's Range: $4.30-$4.85

52-Week Range: $1.62-$8.77

Tuesday's Volume: 7.10 million

Three-Month Average Volume: 7.80 million

From a technical perspective, YGE spiked sharply higher here right above its 200-day moving average of $4.19 with decent upside volume. This stock has been downtrending badly over the last two months and change, with shares falling from its high of $8.77 to its recent low of $4.17. During that downtrend, shares of YGE have been consistently making lower highs and lower lows, which is bearish technical price action. That said, the downside volatility for YGE could be over in the short-term and the stock could be ready to enter a new uptrend.

Traders should now look for long-biased trades in YGE as long as it's trending above its 200-day at $4.19 and then once it sustains a move or close above Tuesday's high of $4.85 with volume that hits near or above 7.80 million shares. If we get that move soon, then YGE will set up to re-test or possibly take out its next major overhead resistance levels at $5.48 to its 50-day moving average at $6.18. Any high-volume move above $6.18 will then give YGE a chance to tag its next major overhead resistance levels at $6.82 to $7.17.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

RELATED LINKS:

>>3 Big Stocks on Traders' Radars

>>5 Rocket Stocks Worth Buying This Week

>>The Truth About Amazon's Drones

Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including

CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

Rising Debt Keeps Older Americans Working Longer

Older Americans now shoulder a heavier debt burden, and it’s forcing them to stay in the labor force longer and delay claiming of Social Security. So found a research paper released by the Center for Retirement Research at Boston College.

The impetus of the study, written by Barbara A. Butrica and Nadia S. Karamcheva, was to ascertain whether indebted older adults would continue to work to settle their obligations, or claim Social Security sooner if they are unemployed or not earning enough to pay off their loans. Overwhelmingly, the researchers found, debt-burdened older workers are choosing to stay in the workforce longer rather than claim Social Security benefits as soon as they are eligible.

Before they came to that conclusion, Butrica and Karamcheva outlined some fairly startling statistics on household debt in the U.S. and how it’s increased in recent years. Citing data from the Federal Reserve System’s Board of Governors, the typical debt-encumbered family owed $70,600 in 2007, a significant jump from the $23,300 number charted back in 1989. By 2010, the median value of household debt was $70,700, with debt payments accounting for roughly 18 percent of their disposable income.

Those nearing retirement, in particular, are now more likely to not only carry debt, but have a heavier burdenas well. Between 1998 and 2010, the percentage of adults between 62 and 69 with any type of debt rose from 48 percent to 62 percent. What’s more, the median value of per-person indebtedness climbed from $19,000 to $32,100 in 2010. Accordingly, the average debt-to-asset leverage ratio increased from 10 percent to 18 percent.

The Impact

As these debt-burdened pre-retirees prepare for retirement, what are they more likely to do: work longer, or claim Social Security sooner? Their solution, according to Butrica and Karamcheva, is to stay employed and thus postpone claiming Social Security.

Here are the numbers:

Other factors that weigh heavily in the decision to remain employed into their 60s and beyond is the amount of debt (an increase of $10,000 ups the likelihood of working by 0.7 percentage points and reduces the chance of claiming Social Security by 0.3 percentage points) and whether that debt comes in the form of a home mortgage. Nearly 65 percent of homeowners with mortgages are still working at age 64 compared to 54 percent of those without mortgages. Moreover, 50 percent of homeowners with mortgages have yet to claim Social Security by age 65, while only 35 percent of those without mortgages have not collected Social Security benefits.

Overall, having debt reduces the probability of fully retiring by 22 percent and the chance of claiming Social Security benefits by 14 percent.

The study’s authors conclude that working longer can bolster retirement readiness, especially for those with debt. However, they also point out that age and ill health could prevent many older Americans from working for a lengthier stretch. For those with debt, that may mean selling their homes, taking out a reverse mortgage or declaring bankruptcy. Optimally, pre-retirees should enter their retirement years debt-free.

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Check out these related stories on ThinkAdvisor:

Verifone Systems Inc (NYSE:PAY): What To Watch In Q4 Results?

VeriFone Systems, Inc. (NYSE:PAY) will release its fiscal fourth quarter and full-year 2013 financial results after the market closes on Dec. 17, 2013. Management will host a webcast to review the financial results on the same day at 1:30 pm (PT). This will be the first conference call for Paul Galant, who was named VeriFone CEO in September.

San Jose, California-based VeriFone, which competes with NCR Corp. (NYSE: NCR), makes global point of sale (POS) terminals and provides a wide array of hardware, service, and data security offerings that enable electronic payments processing for the global payments industry.

[Related -VeriFone Systems Inc (PAY): Buy This Leader In Mobile Payments On Its 55% Pullback]

Wall Street expects VeriFone to earn 26 cents a share, according to analysts polled by Thomson Reuters. The consensus estimate implies a drop of 65.8 percent from last year when it earned 76 cents a share. The company sees non-GAAP earnings of 25 cents a share for the period.

The company's quarterly earnings have managed to top Street view twice in the past four quarters, with the last quarter's earnings edging past consensus by 20 percent. Over the past 90 days, the consensus estimate remained unchanged, and in the past 30 days, one analyst raised the earnings estimate for the fourth quarter.

Quarterly revenues are estimated to fall 13.7 percent to $421.50 million from $488.56 million in the same quarter last year. VeriFone expects fourth quarter revenue of $418 million to $422 million.

[Related -Verifone Systems, Inc. (PAY) Q3 Earnings Preview: What To Expect?]

For the full year, analysts expect earnings of $1.44 a share on revenue of $1.70 billion.

Issues at VeriFone run deeper than just certification problems, as inferior products, pricing pressure, elongated sales cycle and secular headwinds towards mPOS continue to plague the company.

Deutsche Bank analyst Bryan Keane believes the company might be challenged to regain prior lost market s! hare, which differs from the street's assumption that VeriFone will gain share back once certification issues are fixed.

Revenues are expected to decline double-digits organically for the third consecutive quarter due to product and distribution issues, as well as increased competitive pressure resulting in price declines.

Headwinds from the petroleum business in the US, certification issues in Canada and Europe, distributor loss in MEA, and weakness in Latin America (after accelerated move to wireless terminals over last few years) are expected to continue to weigh on the revenue growth. Pricing pressure and accelerated investment are also expected to weigh on the margins.

With conservative fourth quarter guidance, Keane sees modest upside to VeriFone's fourth quarter, but more importantly, potential for downside to street second half 2014 revenue estimates. He believes Street estimates of 10 percent organic revenue growth in the second half could prove too aggressive.

Moreover, investors will look to CEO Galant for the strategic direction. Galant would need to decide to take down the bar now or later and make the difficult transition towards a software/ services company away from hardware.

The secular disintermediation risk from the tablet-based cloud-enabled POS devices is playing out as small and medium businesses are increasingly adopting these devices for value-added services namely loyalty, offer redemption, real-time analytics, and inventory management.

First Data launched the Clover station as well as NCR, ROAM, and Shopkeep have upped their game with enhanced products and increased marketing. Large specialty retailers are also increasingly adopting mPOS to improve customer conversion. Longer-term, payments would move to a software apps based model in the cloud away from hardware and VeriFone should decide its strategy before time runs out.

Investors could focus on how the two recent acquisitions (EFTPOS New Zealand Ltd and Sektor) are impacting the top! line. The! y would also keep an eye on margins as VeriFone has been forced to cut prices as it continues to be plagued by product certifications, and competitive pressures.

In addition, the company mentioned that payment-as-a-service is growing even faster in the 11 to 13 percent range, and VeriFone believes it is well positioned in that market. Investors may want to hear how much leeway it has made into that space.

Cash flow could be another focus area. VeriFone was at risk of breaching its debt covenants in early fiscal 2014. Hence the company amended the debt covenants with its borrower in July 2013. As of July 31, the company had operating cash flow of $49 million and free cash flow of $31 million. It expects fourth quarter free cash flow of of $25 million, excluding shareholder settlement payment.

The Street would look for the first quarter forecast, and it may decide the movement of shares post results. In September, the company said it expects the first fiscal quarter of 2014 to reflect modest sequential improvement to the fourth quarter guidance.

Shares of PAY, which trade at 15.4 times its forward earnings, have gained 17 percent since its last quarterly report, yet slipped 18 percent this year. They have traded between $15.34 and $36.13 during the past 52-weeks.

Wolff: Bloomberg, the last media mogul

In a few weeks, Michael Bloomberg will be back in business.

He won't be the mayor of New York anymore. He'll be the controlling shareholder in a major data and media company. For the past 12 years, he's had a careful relationship with his own company, Bloomberg LP. In a way, it was a pretty great relationship: He got the benefits from it but, staying hands off—having to keep his hands off (well, at last looking like he was) — he avoided the blame.

But now that changes. The responsibility for the company is back in his lap. If things go wrong, which they have recently, it'll be on him.

For instance, there's the fact that Bloomberg reporters were spying on corporate clients. That's something, as mayor, he could profess to having no knowledge about, and no real responsibility for. The same for the company's recent decision to suck up to the Chinese government and kill a piece by Bloomberg reporters about high-level Chinese shenanigans. Ditto for firing one of the reporters.

All of the questions that might be raised, about privacy, about client confidentiality, about basic free press issues, about standing by your reporters, Bloomberg could easily and blissfully avoid as mayor. But they'll come straight at him now. If you think he was ornery at a press conference as mayor, wait to you seem him in a few weeks.

And then there are the business issues. Bloomberg LP, is doing fine, a few less terminals in China maybe, but overall still a Niagara of cash. But Bloomberg media is, relatively, an embarrassing money pit. Nothing really works, except its ability to call attention to the company's presence and potential. It's a brand without a business.

There are a lot of people who are responsible for this in both positive and negative ways, building one of the most prominent media companies in the country, but not exactly making it work: Matt Winkler, Dan Doctoroff, Andy Lack, Norman Pearlstine. As other media companies have fallen, Bloomberg has used its cash to scoop up much ! of the available prestige.

Even absent a real business plan, Bloomberg media became one of the big boys, albeit without big-boy revenue.

In an ideal world, Michael Bloomberg would probably have stepped from the mayor's office into an ultimate not-quite-­yet elder statesman and business-leader capacity from which he might use his $30 billion both for good works and not­-so-behind-­the­-scenes manipulations.

But Bloomberg has a media business — not his real business, data, but a media business— around his neck. Whether he likes it or not.

Bloomberg media was always supposed to be just a kind of cream on the top of the data terminal business — a little color. And then it was supposed to be a business that helped burnish Michael Bloomberg's reputation. It was certainly never supposed to be the main show. One of Bloomberg's partners, Thomas Secunda, still a major power in the company, continues to believe the media business should just be a helpful adjunct to the terminals, that it should be lesser, not greater. (A view that helps explain why Secunda is Secunda, and Bloomberg is Bloomberg.)

But media businesses have a life of their own. They call attention to themselves. That's their job.

There's a nervousness around the Bloomberg offices at the prospect of the return of the man himself, a kind of clearing out, and making way for the big man. Pearlstine, who ran BusinessWeek, recently left the company for Time, Inc. Lack, who ran the television business, is moving out soon. In their place, are two younger men—Andrew Morse, from CNN, on the television side, and Justin Smith, from Atlantic Media, on the print and digital side—crying out for adult supervision.

In a way, running a media company, with its suggestion of creative hubbub, seems as unlikely an outcome for the process­-oriented, data­-minded Wall Street hustler, which is Bloomberg's real identity, as…being mayor.

On the other hand, one reason he ended up as mayor was that he was clearly! bored wi! th his data day job. Bloomberg, to understate the obvious, needs the attention. He needs to be more than just a billionaire.

There are indications on Bloomberg's part that he's tempted by a certain old-media clout and cachet. He's made no secret in media circles that he wants to buy the Financial Times. And then there's The New York Times, which he's flirted with. He is such a logical buyer and savior of the Times that the inevitable will probably happen.

Of course, clout and cachet—even power, prestige, and influence— don't make a business.

Still, it doesn't sound that far from being mayor, a job he used his data-terminal billions to support.

And right now, the media business is in something of the shape that the city was in when he took it over in 2002—contemplating more disruption, and, too, ruin and oblivion.

What the media business lacks, along with advertising revenue, is a suitable figure to represent it. It is an obvious hole at the center of this ever-­more-depressed and scaled-down business. No grand presence. No real proprietor. No awe-­inspiring son­ of ­a­ bitch.

Power needs the powerful to personify it—even to actualize it. Nobody believes in the future of the media business. But they believe in Michael Bloomberg. And he's got a media business whether he likes it or not.

It's really not a bad match.

He is the last mogul.

Stocks fall for second week; Nasdaq retakes 4,000

NEW YORK (MarketWatch) — U.S. stocks made a mild rebound Friday but ended the week lower, as investors looked toward a Federal Reserve meeting next week that could start the curtailment of the Fed's equities-boosting stimulus program.

MarketWatch Interactive: CUTTING THE CABLE CORD
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The Dow Jones Industrial Average (DJIA) added 15.93 points, or 0.1% to 15,755.36 but was 1.7% lower over the week. The S&P 500 (SPX)  closed down 0.18 point at 1,775.32, and finished the week with a 1.7% loss. Both indexes were down for the second week, the first series of such losses since early October.

The Nasdaq Composite (COMP) finished 2.57 points higher at 4,000.98 and was 1.5% lower over the week, its first week of losses in five.

In the absence of significant news, markets are focused on the FOMC meeting next week during which the Fed will decide whether or not it will start winding down the $85 billion a month stimulus program.

Click to Play Why Twitter backtracked on new feature

The Twittersphere was in an uproar after the social media company allowed blocked Twitter users to view or tweet at people who had blocked them. David Rogers, faculty director for digital marketing strategy at the Columbia Business School, discusses on digits. Photo: Getty Images.

Gains on the S&P 500 were lead by materials and technology sectors on Friday, while energy and telecoms led the losses. Healthcare and telecoms sectors led the weekly losses.

"As we get closer to the Fed meeting next week, we will probably see some more weakness, which is warranted given the gains we had so far," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"However, once the meeting is over, we think that the markets will get a relief rally. We view that this December is going to be like many other Decembers, when we will see a Santa boost at the year-end," Detrick added.

The comment: "The markets have priced in the tapering, as we have been talking about it since May when the Fed first hinted it. Sure, there will be volatility next week, but our research indicates that markets are not overly bullish," said Detrick of Schaeffer's Investment Research

Today's movers & shakers: Shares in Adobe Systems Incorporated (ADBE)  closed up 13% after the company reported quarterly results after the close on Thursday. Fourth-quarter earnings per share fell to 13 cents; however, Creative Cloud subscribers rose by more than expected to 1.4 million. Electronic Arts Inc (EA)  rallied 6%. Twitter (TWTR)  shares rose 6.6% after it reversed earlier changes to the way the 'block' function works, following outcry from users. Among decliners, Anadarko Petroleum Corporation (APC)   shares sunk 6.4% after a U.S. bankruptcy judged ruled it could be liable for an at-least $5 billion in lawsuit linked to its 2006 Kerr-McGee buy. Read more in the Movers & Shakers column.

Other markets: Gold futures gained 0.5% over the week and crude oil futures lost 1.1% on worries over Fed tapering. Stocks in Asia ended mostly higher and the European stock ended the week in the red.

Read more on MarketWatch:

• U.S. producer prices fall again in November

• Is the stock market still a playground for the rich?

• Intel, teetering small caps and a tough year for market adages

Ford set for most aggressive expansion in 50 years

Workers install a Ford EcoBoost engine into a 2014 F150 truck chassis on the assembly line at Ford's Dearborn Truck Plant in Michigan.

NEW YORK (CNNMoney) Ford is gearing up for a big 2014.

The Michigan-based automaker said Thursday it's on the brink of "the fastest and most aggressive manufacturing expansion the company has undergone in 50 years." It plans to add add 5,000 new jobs in the U.S. next year, including 3,300 salaried positions.

The company also plans to open new factories in Brazil and China, and will introduce 23 new vehicles globally.

"The last time Ford (F, Fortune 500) was growing like this, Dwight D. Eisenhower was the U.S. president," John Fleming, Ford's executive vice president for manufacturing, said in a statement.

Unlike rivals General Motors (GM, Fortune 500) and Chrysler, Ford avoided a taking a federal bailout following the financial crisis. However it has had its own struggles, laying off and buying out tens of thousands of workers over the past decade.

But in recent months things have been looking up for the industry, which has been buoyed by low gas prices, increased access to credit and pent-up demand.

Ford's November sales rose 7% versus last year, and the company says it's gaining U.S. market share at a faster rate than any of its competitors.

Asia stocks fall ahead of Fed decision

Asian markets were lower on Wednesday, in cautious trading ahead of next week's Federal Reserve meeting, while Japan was weighed by a stronger yen.

The region followed the U.S. lower, after stocks on the Wall Street fell overnight as investors sold to cash in some of the strong gains for the year and continued to worry about the potential impact of the Federal Reserve reducing its stimulus.

Shutterstock Enlarge Image

Speculation over when the Fed will start to roll back its bond-buying program has been a persistent theme in Asia since the early summer, when it sparked a series of selloffs in the region. Recent employment data from the U.S. have been strong, which has raised expectations that the Fed could start to withdraw its stimulus as early as in its December policy meeting next week, giving trading a general air of caution.

This caution could be seen in the dollar's movement against the yen, which pulled back overnight, after spending much of Tuesday with striking distance of challenging its year high. The dollar (USDJPY)   lost a total of 0.4% against its Japanese counterpart overnight and was last trading at ¥102.80, compared with ¥102.84 late Tuesday in New York.

The yen's push back against the dollar weighed on Japanese stocks, with the Nikkei (JP:NIK)  last down 0.4%.

Click to Play China advances case against rights activist

Police urge prosecutors to indict a key figure in one of China's New Citizens Movement for organizing protests over access to education and government transparency. The WSJ's Deborah Kan speaks with law professor Michael Davis from the University of Hong Kong.

Stocks also edged lower in China, where Hong Kong's Hang Seng Index (HK:HSI)  lost 0.6% and the Shanghai Composite (CN:SHCOMP)  dropped 0.6%. Investors are waiting for the conclusion of a meeting of senior officials that started Tuesday, where they will review this year's economic progress and map out plans for 2014.

HSBC Holdings PLC (HK:5)   (HSBC)  , the single largest constituent on the Hang Seng Index, fell 0.5% after the bank said it agreed to sell its 8% stake in Bank of Shanghai to Spain's Banco Santander S.A. (ES:SAN)  . The bank didn't say how much it was selling the stake for but it valued the holding at $468 million at Sept. 30.

South Korea's Kospi (KR:SEU)  was up 0.3%.

In Australia, the S&P ASX 200 (AU:XJO)  fell 0.1%, the index's fifth consecutive decline, as investors continued to worry about the impact of a flurry of initial public offerings hitting the market before the end of the year.

Shares in QBE Insurance Group (AU:QBE)   (QBEIF)  gained 3.6% on Wednesday, as J.P. Morgan upgraded the company to neutral after falling a total of 32% on Monday and Tuesday. The insurer's surprise profit warning earlier this week had hit broader sentiment in Sydney.

6 secrets of the Santa Claus business

JACKSON, Miss. (AP) — Things you may not have known about the Santa Claus business:

— Santas avoid each other while on the job. "It's professional courtesy," says Kennison Kyle, a Santa who works out of Memphis, Tenn. Even in their civvies, Santas stand out, he notes. "A lot of guys I know avoid malls and other places where they know Santas are going to be. They don't want to be an unnecessary" distraction.

MORE: Some show-me-the-money gifts to consider

— What Santas tell children who see a half dozen Santas and ask which is the real one? "Tell them you'll know him when you see him," Kyle says.

MORE: Gadget gifts for everyone in the family

— What Santas tell children who ask why the reindeer aren't flying? "Tell them the reindeer can only fly on Christmas when good boys and girls are in bed," Kyle says.

MORE: The holiday season and your career opportunities

— What to tell a child if no reindeer are around? "Not cold enough yet," Kyle says.

MORE: What NOT to buy your boss for Christmas this year

— What Santas do when they get together: "Talk shop," Kyle says. "How to keep up with bookings. How to deal with real shy kids."

MORE: Mobile shopping goes mainstream in 2013

— What can Santa deduct from his taxes? "I deduct hair spray, my boots, the fabric for having my suit made, salon charges for getting my hair bleached," Kyle says. He also deducts his millage — provided he can prove they were by a vehicle with wheels.

From Jenny M.: "This is me on Santa's lap at age 2. My mother tried to appease my fearful tears with that beautiful plastic poodle. Obviously, I was not a fan."(Photo: Reader submission)

These Two Stocks Just Got the Party Started (GRH, ADAT)

In a perfect world, a stock's price is merely a reflection of a predictable combination of a company's history and forward-looking prospects. We don't live - or trade - in a perfect world though. In the real world, a chart not only tells a story, but illustrates traders' changing opinion of a stock. The good news is, traders move, thing, buy, and sell in fairly predictable patterns, and when you see certain hints fall in place, you can make a very good trade. Enter Authentidate Holding Corp. (NASDAQ:ADAT) and Greenhunter Resources Inc. (NYSEMKT:GRH). Both GRH as well as ADAT have taken on a bullish shape as of today, and both are apt to be at much higher levels in the foreseeable future.

For Greenhunter Resources, that clue is the fact that shares have finally broken past a long-nagging resistance line... two of them, actually. It's also left behind a trail of higher lows to lead the stock up and above those former resistance lines. Throw in the fact that GRH has been making bullish progress on persistently higher-than-average volume since the middle of the year, and it becomes clear this effort is something of a freight train you don't want to get in the way of.

GRH provides support services to the fracking industry, primarily in the Marcellus, Eagle Ford and Bakken shale areas. It was something of a rocky start, but 2013 has been a pivotal year for the company.  Greenhunter Resources had a decent 2012, putting up sales of $17 million. Through the first three quarters of this year, however, the company's driven $28 million in sales. It IS up and running. Better still - and this may be the reason Greenhunter Resources shares are on the verge of a monster-sized breakout - that revenue growth has brought the company to the brink of profitability. A little more revenue could go a long way, and draw a huge buying crowd once it happens.

As for Authentidate Holding Corp., you have to take a step back and look at a long-term weekly chart of the stock to see just how important today's pop was. But, it's worth the trouble (though we've gone to the trouble for you below). The move to a high of $1.79 has carried ADAT above what had been a major ceiling at $1.65 in late 2011 and early 2012. Although it's very likely Authentidate Holding shares are going to pull back from their near-term overbought condition, that should be a short-term lull. The buyers have tipped their hand (the volume behind the buy-in is huge), and now that the cat's out of the bag, this stock's apt to keep rolling.

ADAT is the publisher of healthcare-management software and web-based services. The stock's 17% pop today wasn't prompted by any new from, or even about, the company. That could be a little intimidating. In this case though, we have to assume that "somebody big knows something" about what's in the cards for Authentidate Holding. And if it's really just a big or institutional investor deciding now's the time to get in ADAT, that's still an encouraging sign.

For more trading ideas and insights like these, be sure to sign up for the free SmallCap Network newsletter.

Ex-Madoff lieutenant tells of his rise and fall

NEW YORK — Until this week, relatively little was known publicly about Frank DiPascali, the former finance chief for Ponzi scheme architect Bernard Madoff.

But testifying as the star prosecution witness against five former co-workers as the fifth anniversary of the scam's collapse approaches, DiPascali, 57, has started filling in some of the blanks in his college dropout-to-financial-world-millionaire background.

On the surface, the two might seem an unlikely match. Before his downfall, Madoff was a former Nasdaq chairman and Wall Street eminence. The Brooklyn-born DiPascali graduated from Archbishop Molloy High School in Queens, the New York City borough where he grew up. He dropped out of nearby St. John's University after one semester.

STAR WITNESS: DiPascali begins testimony

His only work experience before joining Madoff in 1975 consisted of menial summer jobs at another Wall Street company and making pickups and deliveries for the Howard Beach, Queens laundry service run by the father of next-door neighbor Annette Bongiorno.

While working as Madoff's executive assistant, Bongiorno got DiPascali the job interview that led to his hiring. Nearly 40 years later, they face off across a Manhattan courtroom as DiPascali testifies against her and four others accused of knowingly aiding Madoff and profiting from the scam that siphoned more than $17 billion from thousands of investors.

Recounting the job interview for jurors on Monday, DiPascali said Peter Madoff, his ex-boss's younger brother and business partner, "grilled me on a bunch of simplistic mathematical equations."

"I aced it, and they gave me the job," said DiPascali, speaking in a gravelly New York accent and sporting a light gray suit, red patterned tie and white shirt for his first day on the witness stand. "They liked me, and they were doing Annette a favor."

At first, he worked for the younger Madoff writing "book reports" — summaries of Securities and Exchange Commission reports filed by ! companies whose stocks the firm traded. But, telling jurors that work was "boring," DiPascali during the early 1980s angled for a role on the Madoff firm's trading desk.

He passed the stockbroker exam in 1986 and eventually got his own trading book, the group of stocks he focused on buying and selling. DiPascali went on to learn about options trading from two office colleagues. With that knowledge DiPascali said he was entrusted with handling the accounts of several wealthy Madoff friends and clients, including New York Mets owner Fred Wilpon and his relatives.

In 1987 Bernard Madoff tapped DiPascali as quasi-general contractor for the growing firm's move from Wall Street to larger offices in the Midtown Manhattan tower known as the Lipstick Building for its distinctive shape. Telling jurors he knew the office layout and trading desk setup his boss wanted, DiPascali said he relished his growing work role and responsibility.

Now more established at work, he and wife Joanne, who'd wed in 1984, left Queens for suburban New Jersey. The couple raised four children and ultimately lived in a five-bedroom, 6½-bathroom home in Bridgewater, where recent U.S. Census Bureau data reported median income of $113,910.

Growing wealth also brought them a 61-foot Viking yacht named Dorothy Jo, a 17-foot Boston Whaler runabout and three luxury cars.

But DiPascali admitted to jurors he'd known since the late 1980s-early 1990s that Madoff's operation was a long-running scam with none of the sophisticated trading promised to clients. Instead, money from some clients was used to pay others.

"Did you know you were committing fraud?" asked Assistant U.S. Attorney John Zach during Monday's questioning.

"Yes," said DiPascali.

He now faces up to 125 years in prison, a sentence he hopes to shorten via his cooperation with prosecutors. The fancy home and boats were forfeited, leaving him with nothing "except my clothing." DiPascali told jurors.

When he pleaded guilty to conspirac! y, fraud,! perjury, tax evasion and other charges in 2009, DiPascali apologized and said he hoped his work aiding prosecutors to uncover all facets of the scam would "bring some small measure of comfort to those who have been harmed."

It's unknown whether many of the thousands victimized by the scam would agree.

Laurence Leif, a former client who opposed bail for DiPascali, wrote in a 2009 letter that Madoff's ex-lieutenant "was the INSTRUMENT for taking my life away."

"Whatever he tells the authorities will not help the victims in any way," wrote Leif.

What to watch: S&P 500 milestone a bellwether?

The U.S. stock market is flying high. It's hitting closing records on a daily basis. And most Wall Street forecasters are saying there's nothing out there -- at least right now -- that can stop the bull market.

With that bullish storyline, it's a good time to keep an eye out for what could portend an end, or a temporary pause to the good times in the stock market. While it normally takes a recession or a super-spike in interest rates or a massive tightening of monetary policy by the Federal Reserve to take the market down in a major way, a sign of weakening momentum often signals a coming dip.

One simple tracking exercise that Main Street investors can employ to spot waning momentum (and this market has been driven in large part by momentum) is to keep an eye on key levels in the benchmark Standard & Poor's 500 stock index.

TRACK STOCKS : Get real-time quotes with our free Portfolio Tracker

The level to watch now on the large-company stock index is 1800, according to Bryan Sapp, a senior trading analyst at Schaeffer's Investment Research.

The index closed above that key psychological level for the first time on Friday, Nov. 22. And Wall Street analysts are watching very closely to see if it can hold that level or whether the big, round number will turn out to be a near-term top for stocks.

"The broad-market barometer has recently found support near this level," says Sapp. "A break below could likely be a sign that a correction is underway." The S&P 500, up 27% this year, hasn't suffered a 10% drop since 2011.

Follow Adam Shell on Twitter: @adamshell.

NTPC tax-free bonds issue to open on December 3

The issue will open for subscription on December 3, 2013 and is scheduled to close on December 16, 2013.

The company is the largest power producer in India in terms of both installed capacity and generation, with aggregate installed capacity of 41,184 MW (including 35,820 MW through directly owned units and 5,364 MW through subsidiaries and joint ventures), representing market share of 18.44 percent of India's total installed capacity as on March 31, 2013.

The object of the issue is to utilise the fund for funding of capital expenditure and refinancing for meeting the debt requirement in on-going projects, including recoupment of expenditure already incurred.

The bonds are proposed to be listed on BSE and NSE. AAA is the credit rating assigned to the bond by ICRA and CRISIL .

A K Capital Services Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the lead managers to the issue. Karvy Computershare Private Limited is a registrar.

Top 5 Stocks To Watch Right Now

Compa帽铆a de Minas Buenaventura S.A.A. (NYSE: BVN  ) is expected to report Q2 earnings around July 26. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Compa帽铆a de Minas Buenaventura S.A.A's revenues will decrease -17.0% and EPS will shrink -40.0%.

The average estimate for revenue is $290.7 million. On the bottom line, the average EPS estimate is $0.36.

Revenue details
Last quarter, Compa帽铆a de Minas Buenaventura S.A.A. chalked up revenue of $354.7 million. GAAP reported sales were 5.9% lower than the prior-year quarter's $377.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $0.40. GAAP EPS of $0.40 for Q1 were 51% lower than the prior-year quarter's $0.82 per share.

Top 5 Stocks To Watch Right Now: Arc Wireless Solutions Inc.(ARCW)

ARC Wireless Solutions, Inc., together with its subsidiaries, provides wireless network components and solutions in the United States. It is involved in the design, development, manufacture, marketing, and sale of antennas and related wireless communication systems, including cellular base stations, mobiles, cellulars, and flat panel antennas. The company?s products also include global positioning systems; and conformal, portable, and other antennas, as well as antenna accessories. ARC Wireless Solutions, Inc. markets its commercial line of antennas directly to distributors, installers, and retailers of antenna accessories, as well as to commercial, government, and retail markets. It offers its products under the Freedom Antenna Exsite, Omnibase, Parity, Arc Vlpa, Airbase, and And Freedom Blade brand names. The company was formerly known as Antennas America, Inc. and changed its name to ARC Wireless Solutions, Inc. in October 2000. ARC Wireless Solutions, Inc. was founded in 1987 and is based in Denver, Colorado.

Top 5 Stocks To Watch Right Now: Suffolk Bancorp(SUBK)

Suffolk Bancorp operates as the holding company for Suffolk County National Bank, a national-chartered commercial bank that provides domestic, retail, and commercial banking services, as well as trust services in Suffolk County, New York. The company offers various deposit products consisting of checking accounts, savings accounts, time and savings certificates, money market accounts, negotiable-order-of-withdrawal accounts, holiday club accounts, and individual retirement accounts. It also provides various secured and unsecured loans, including commercial loans to individuals, partnerships, and corporations; agricultural loans to farmers; installment loans to finance small businesses; automobile loans; and home equity and real estate mortgage loans. In addition, the company offers safe deposit boxes, and trust and estate services; sells mutual funds and annuities; and maintains a master pension plan for self-employed individuals? participation. As of December 31, 2010, i t operated 30 full-service offices in Suffolk County, New York. Suffolk Bancorp was founded in 1890 and is headquartered in Riverhead, New York.

Top Gold Companies To Own In Right Now: Citizens Community Bancorp Inc.(CZWI)

Citizens Community Bancorp, Inc. operates as the holding company for Citizens Community Federal that offers various financial services in the United States. The company offers various deposit products to consumers and businesses that include savings accounts, money market deposit accounts, demand accounts, and certificates of deposit. Its loan portfolio comprises real estate loans, such as one- to four-family loans, second mortgage loans, home equity lines of credit, and multi family and commercial real estate loans; and consumer loans, including new and used auto, motorcycle, boat, and recreational vehicle loans. The company also provides loans secured by savings deposits and unsecured loans. As of December 18, 2009, it operated 26 full-service banking offices in Wisconsin, Minnesota, and Michigan. The company is headquartered in Eau Claire, Wisconsin.

Top 5 Stocks To Watch Right Now: ResMed Inc (USA CUFS)

ResMed Inc., through its subsidiaries, engages in the development, manufacture, and distribution of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. It offers various products for the treatment of obstructive sleep apnea and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear products, and ventilation devices, as well as other optional accessories, such as cold passover humidifiers, carry bags, and breathing circuits. The company also provides data communications and data control products consisting of EasyCare, ResLink, ResControl, ResControl II, TxControl, ResScan, and ResTraxx modules that facilitate the transfer of data and other information to and from the flow generators. ResMed Inc. markets its products to sleep clinics, home healthcare dealers, and third-party payers. The company sells its products through a network of distributors, independent man ufacturers, representatives, and direct sales force in approximately 70 countries primarily in the United States, Germany, France, the United Kingdom, Switzerland, Australia, Japan, Norway, and Sweden. ResMed Inc. was founded in 1989 and is based in San Diego, California.

Top 5 Stocks To Watch Right Now: Insteel Industries Inc.(IIIN)

Insteel Industries, Inc. manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a high strength seven-wire strand that is used to impart compression forces into precast concrete elements and structures, which may be either pre-tensioned or post-tensioned, providing reinforcement for bridges, parking decks, buildings, and other concrete structures. The company?s WWR is produced as either a standard or a specially engineered reinforcing product for use in nonresidential and residential construction. Its products comprise concrete pipe reinforcement, an engineered made-to-order product that is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; engineered structural mesh, an engineered m ade-to-order product, which is used as the primary reinforcement for concrete elements or structures; and standard welded wire reinforcement, a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. Insteel Industries sells its products through sales representatives to the manufacturers of concrete products, distributors, and rebar fabricators in the United States, Canada, Mexico, and Central and South America. The company was founded in 1958 and is headquartered in Mount Airy, North Carolina.

Advisors' Opinion:

• [By Rich Duprey]

  With steely reserve,�Insteel Industries� (NASDAQ: IIIN  ) �declared it will pay a�quarterly cash dividend�of�$0.03 per share on June 28 to shareholders of record at the close of business on June 14.

• [By Seth Jayson]

  Insteel Industries (Nasdaq: IIIN  ) reported earnings on July 18. Here are the numbers you need to know.

  The 10-second takeaway
  For the quarter ended June 29 (Q3), Insteel Industries met expectations on revenues and missed estimates on earnings per share.