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Aug 11, 2011

Stocks To Watch Friday: Nvidia, Nordstrom: MarketWatch | Stocks To Watch


By David B. Wilkerson, MarketWatch 
 
CHICAGO (MarketWatch) — Chip maker Nvidia Corp. and retailers Nordstrom Inc. and J.C. Penney Co. are among the stocks that could see moves on Friday.

Nvidia NVDA +11.86%  shares were up 18% at $15.79 in after-hours trading following the company’s report of better-than-expected results. Its adjusted income in the second quarter was 32 cents a share on revenue of $1 billion. Analysts had expected net income of 25 cents a share, on revenue of $1 billion. Read full story about Nvidia’s earnings report. 

Nordstrom JWN +3.95%  stock was up 3.6% in evening trading. It posted a second-quarter profit of $175 million, or 80 cents a share, on sales of $2.72 billion. Respondents to FactSet’s survey anticipated net income of 74 cents a share on $2.72 billion in revenue.
J.C. Penney JCP +2.57%  posts second-quarter earnings Friday morning. The company is expected to report a profit of 10 cents a share on sales of $3.91 billion, according to FactSet’s poll.
 
David B. Wilkerson is a reporter for
 

Smartcompany News & Analysis: iiNet copyright case goes to High Court appeal, Beauty group calls in administrators, MasterChef star’s $21m business empire, SME savings jump

smart company logo image

Today on SmartCompany we ask whether rising unemployment will further slow the economy and lead to a rate cut – as James Thomson argues in Entrepreneur Watch, we should remember that Australia’s jobless rate is still low by global standards. We also look at the collapse of a listed beauty group and examine the High Court’s decision to hear an appeal on the copyright stoush between iiNet and a group of television and movie studios.

For all this and more, head to our home page.

How I
How I drive my business with training
Two Men and a Truck founder Richard Kuipers brags he has one of the lowest turnover rates in his industry – and reveals how he keeps his staff happy. BY PATRICK STAFFORD.
How I

Exit Strategies
Fear of the exit
Once you start to put some effort into preparing your business for sale and begin to consider what else you might do, your "fear of exit" will disappear. BY TOM MCKASKILL.
Fear of the exit

Aunty B
Can I be both CEO and chairman?
Being both CEO and chairman makes you look like a control freak. And unprofessional. It's a bit like saying you are going to be the Prime Minister and the Governor General.
Aunty B

Selling strategies
Trent Leyshan
In sales a successful process allows you to work by a consistent set of operating principles that guide and support you towards realising an outcome.
Trent Leyshan

The Futurist
Colin Benjamin
Smart companies will focus on the customers that are more confident, are bigger spenders and take their business perspective from a high level of access to the online media.
Colin Benjamin

Female Entrepreneur
Naomi Simson
The principles behind building a strong and enduring brand remain the same whether online or offline. It's all about building great relationships.
Naomi Simson

Entrepreneur Watch
James Thomson
Yesterday’s jump in unemployment shocked economists. But how worried should we be?
James Thomson

Asia posts modest gains as volatility recedes: MarketWatch | Asia Markets



By Sarah Turner, MarketWatch 

SYDNEY (MarketWatch) — Asian stocks advanced on Friday, with banks among the gainers, although moves were relatively modest compared to the sharp volatility generally seen in global markets this week.
Hong Kong’s Hang Seng Index HK:HSI +1.48%  rose 1.3%, and the Shanghai Composite index CN:000001 +0.84%  advanced 0.4%.
Japan's Nikkei Stock Average JP:NIK +0.16%  ended the morning session up 0.2%, paring larger gains early in the session, while South Korea’s Kospi KR:0100 +0.85%  climbed 1% and Australia’s S&P/ASX 200 index AU:XJO +1.35%  advanced 1.4%.
U.S. shares ended Thursday’s session sharply higher, as corporate earnings and a drop in weekly jobless claims helped improve sentiment toward beaten-down stocks. Read more on Thursday’s U.S. stock action.
It was the fourth day that the Dow industrials DJIA +3.95%  scored a 400-plus point change, with investors’ nerves frayed by fear over the likely trajectory of economic growth, as well as sovereign debt in the U.S. and Europe.
“Intra-day volatility remained very high on Thursday, though a sense of calm did seem to set in, and global financial markets now appear to be swinging two ways, as opposed to one-way lower in recent days,” said strategists at Royal Bank of Canada. 

 
Yuan on the rise The yuan hits a record high against the dollar on Thursday, a sign that the Chinese central bank is using currency appreciation to rein in high inflation. 

Following a lead from U.S. financials, which were buoyed by the jobless data, banks were advancing in Asia. Nomura Holdings Inc. JP:8604 +1.25%   NMR -0.47% rose 1.3% in Tokyo, Macquarie Group Ltd, AU:MQG +3.22%   MQBKY +4.39%  advanced 3.2% in Sydney, and HSBC Holdings PLC UK:HSBA +3.80%   HK:5 +1.72%   HBC +0.69%  rose 1.9% in Hong Kong.
The gains for the sector also followed regulators in several European countries saying they would ban some short selling, particularly in financial shares. Read more on European short-selling ban.
With the U.S. data soothing some worries about the American economy and future demand trends, energy companies were also advancing.
Japan’s Inpex Corp. JP:1605 +2.78%   IPXHY -0.49%  rose 2.8%, while Australia’s Woodside Petroleum Ltd. AU:WPL +2.00%   WOPEF +7.02%  climbed 1.7%.
Some Japanese exporter and trading shares were strong as well, despite persistent strength in the yen, with trading-house Mitsubishi Corp. JP:8058 +1.21%  , MSBHY +3.45%  up 1.2%, and Canon Inc. JP:7751 +5.29%   CAJ +6.24% , up 5.3% after announcing a share buyback plan.
In Hong Kong, Li & Fung Ltd. HK:494 +5.83%   LFUGY +8.58%   jumped 7.3% The clothing exporter and supply-chain manager posted a 15% drop in profit to $235.5 million but said it’s on track to meet its three-year plan targets.
On the losing side, shares of BlueScope Steel Ltd. AU:BSL -5.61%   BLSFY +2.39%  fell 5.6% in Sydney after the steel mill said that it will write down the value of some of its assets. Read more on BlueScope’s asset-writedown plan. 
 
Sarah Turner is MarketWatch's bureau chief in Sydney.

The Australian Business Briefing: BlueScope to halve output


BlueScope to halve output
BlueScope Steel Matt Chambers and Mitchell Bingemann BLUESCOPE Steel says it will slash production, halt exports and write $900 million off the value of its Australian businesses.
 
SABMiller readies bid finance
Foster's SABMILLER is assembling a bank group to provide a syndicated loan for a new bid for Foster's, Reuters reported.
 
Telstra upwardly mobile at last
Telstra upwardly mobile at last Tracy Lee TELSTRA chief David Thodey is confident mobile and internet spending will help the company meet its profit guidance.
 
Murdoch 'in control' as News lifts profit
Rupert Murdoch James Chessell RUPERT Murdoch says he will remain chairman and chief executive of News Corporation, as the media group lifts its profit by 8.9pc.
 
Woodside to stand firm on Browse
New CEO Andrew Burrell CHIEF executive Peter Coleman has signalled he will continue the aggressive stance of Don Voelte on the company's $30 billion Browse gas project.
 
Webjet soars on strong profit
Webjet soars on strong profit result Teresa Ooi WEBJET has delivered a 5 per cent rise in full-year net profit after tax to $11 million, as the shift to internet travel bookings gathers pace.
 
DJs returns to the GFC doldrums
David Jones Blair Speedy DAVID Jones says stockmarket volatility is frightening shoppers away, as it reported its worst sales result since the GFC.
 
Financial Markets
Wall St rebounds 423 points
Wall St Brendan Conway US stocks leapt to a huge gain today, as the Dow made history with four straight days of moves of 400 points or greater.
 
Gold buckles under pressure
Oil rises 3pc to week high
 
Financial Markets Coverage
 
Mining & Energy
Escondida strike losses insignificant
copper mine Carolina Pica THE 15-day illegal strike at the Escondida copper mine didn't have a "relevant impact", the BHP-operated mine said.
 
Gold buckles under pressure
Oil rises 3pc to week high
 
More Mining & Energy
 

The Australian Capital Circle: Fiscal dilemmas as global turmoil hits home.

Capital Circle Newsletter
Fiscal dilemmas as global turmoil hits home
 
Both sides of politics are looking for savings as the financial turmoil overseas forces a budgetary rethink.

Julia Gillard is in Perth today. She'll have an event late morning Perth time.
Tony Abbott is also in Perth. He's visiting an industrial engineering business at Kwinana, about 9am local time. He'll attend the Australian-American leadership dialogue later in the day.
Conundrums: Both sides of politics are facing acute fiscal dilemmas with potentially dire political consequences. First, it looks like Julia Gillard may be prevented from delivering on her pledge to erase the deficit by 2012-13, as a result of growing financial turmoil. Most economists think the surplus deadline is artificial and unnecessary. But breaking another election promise won't be a good look for the beleaguered PM. Second, Tony Abbott has to come up with $70 billion in budget savings to scrap the carbon tax, the minerals tax and deliver personal income tax cuts. His Treasury spokesman Joe Hockey yesterday said entire government departments could face the chop.
Carbon pitch: As the West Australian reports today, the government's carbon tax sales pitch may be starting to resonate with voters. The Prime Minister managed to convince a majority of the audience at a community forum in Perth last night of the merits of the proposal. Not a bad effort considering the West's reliance on the resources sector.
Mother country: Like his suggestion that carbon dioxide is weightless, we were intrigued by Tony Abbott's views on Australia's demographic make-up. Reflecting on the London riots with 2UE's Michael Smith , he said there were "very few Australians who haven't been there", and "few Australians who don't have family ties to the United Kingdom". According to the 2006 census, there were about eight million Australians whose parents came from the UK, and about 12 million whose parents were born somewhere else.
Green thumb: We're pleased to see Christine Milne is back in the garden after putting in the long hours in Canberra negotiating the carbon tax. "I am so looking forward to getting into the rhythm of the
Read more...

Reuters -Technology Report: Google + social network gets games


 

NewsApple Inc's increasingly effective patent war against rivals like Samsung Electronics may mask its real target: arch-foe Google Inc. Poornima Gupta writes: "Recent success in blocking sales of Samsung's latest Galaxy tablet in most of Europe and Apple's challenges to the Korean giant in Australia reflect an aggressive effort to defend its top position in the red-hot mobile market from the runaway success of Android."

AOL said on Thursday it would buy back $250 million of its stock, a move presumably intended to boost confidence in the shares, which fell 32 percent in two days. AOL has been in a turnaround mode since it was spun off from Time Warner in December 2009 after one of the most disastrous mergers in recent times.

Zynga, which has filed for an initial public offering of up to $1 billion, revealed it draws fewer paid players than expected in a regulatory filing on Thursday.

Most communication experts say that politicians, businesses and governments need to learn to use social media to shape the narrative themselves. And they need to learn fast, reports Peter Apps.

For people suffering social media overload, the New York Times has an alarming stat: "...one in every four-and-a-half minutes spent on the Web is spent on a social networking site or blog."