Market News: Bank of America Corp. (NYSE:BAC), Lockheed Martin (NYSE:LMT), Best Buy (NYSE:BBY)

Here are more news stories which could affect stocks on world markets in trading later today. The following stocks should see some movement: Bank of America Corp. (NYSE:BAC), Lockheed Martin (NYSE:LMT), Best Buy (NYSE:BBY). Here is a more detailed look at the news that will affect each company when trading continues. Bank of America Corp. (NYSE:BAC) Bank of America Corporation (NYSE:BAC) has reported $7.6 billion in losses. The corporation said in the official statement that it has lost $7.6 billion due to a legislation regarding credit and debit card reform. The legislation that passed over the summer prevented Bank of America Corporation (NYSE:BAC) from charging more than $7 billion in fee alone from its customers. It was also reported that the bank has taken a write-down of $10.4 billion to prepare for legislation yet to come. Lockheed Martin (NYSE:LMT) Lockheed Martin (NYSE:LMT) has submitted a proposal to the US Naval Air Systems for their UAS request. The K-MAX helicopter, developed by Lockheed Martin (NYSE:LMT) has already met the requirements for a cargo unmanned aircraft system (UAS). Lockheed Martin (NYSE:LMT) has teamed up with Kaman Aerospace Corporation to develop the K-MAX helicopters. Dan Spoor, Lockheed Martin (NYSE:LMT) Aviation Systems vice president, said that “The aircraft offers significantly reduced operational and logistics costs compared to transporting cargo by convoy or manned helicopter” Best Buy (NYSE:BBY) Best Buy (NYSE:BBY) has offered Bell Samsung Galaxy S mobile for an amazing price of $0.00. Since the mobile is launching officially on Monday, Best Buy (NYSE:BBY) is offering the first handset at this unbelievable price, a weekend sale for 3 days in Canada. The company is also offering a three-year contract with the mobile that is sure to attract the attention of buyers across the globe. The only issue that bothers the online buyers is that they will have to go to the store to get the phone at the special price. We could possibly see more movement when trading continues for Bank of America Corp. (NYSE:BAC), Lockheed Martin (NYSE:LMT) and Best Buy (NYSE:BBY).
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SanDisk Corporation (SNDK) Up after Q3 Results

SanDisk Corporation (NASDAQ: SNDK) shares are trading higher after the company reported its third-quarter financial results. Shares were up 2.07% to $37.89, at last check, on above average volume of 15.38 million. The stock touched an intra-day high of $39.45, after opening at $38.70. It has a 52-week range of $19.18-$50.55. Yesterday, the company reported third-quarter 2010 financial results, with net revenues of $1.23 billion, representing 32% growth as compared to previous year. The net income stood at $322 million, or $1.34 per diluted share, compared to previous year. The OEM and retail businesses were the major contributors to this quarter's performance. The third quarter saw solid execution, stable pricing and substantial cost reductions, which led to record high operating and net income and the highest ever total gross margin of 52%. The company will continue its focus on diversified channels, including inroads for its embedded storage products in smartphones, tablet PC's and other mobile devices for 2011. SanDisk Corporation is engaged in the designing, developing and manufacturing of data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The company is based in Milpitas, California. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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Wall Street Gone Wrong

Risk management litmus tests for the next generation of Wall Street brains…

The NOBEL PRIZE panel granted its top award to seven leading economists – whose theories went on to cost investors trillions of Dollars in losses.

This story – as well as some of the other top financial fiascos through the ages – is detailed in the new book, Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System, written by Martin Hutchinson, a former merchant banker and Money Morning columnist, and Kevin Dowd, an economist and respected academic.

Here, Money Morning executive editor William Patalon III sits down with Hutchinson to talk about the book…

Money Morning: Congratulations, Martin. Alchemists of Loss is a great book. What prompted you guys tackle this topic. Was there a single incident or event that motivated you to do it, or was there kind of an “epiphany” moment?

Hutchinson: I did a piece on risk management for Financial Engineering News in late 2006, which the editor sent to Kevin Dowd to review (my article said that Wall Street had it all wrong and should be using fuzzy logic). Kevin sent a lengthy reply, through which we discovered we agreed on a lot; so we became buddies and agreed we should do a project together. When the crash happened, it looked like an excellent opportunity, and much to my joy, he had the contacts at the publisher, John Wiley & Sons Ltd, to get it accepted.

MM: What major conclusion, or conclusions, did you come to in your research… as well as in the book itself? What’s the most important conclusion you reached?

Hutchinson: Kevin may disagree, but my favorite section is Chapter 15, which is about risk management. There we propose two “litmus tests” for extreme risks that Wall Street should be using today to weed out CDO squared, credit default swaps and the other rubbish the “quants” may come up with in the future. We think our “litmus tests” are strong enough to catch anything they can come up with, but recognize that we could always be surprised!

Of course, our overall conclusion that they granted seven Nobels for a spurious set of theories was also an enjoyable one! Tracing how the modern finance theory virus got into Wall Street was interesting – Kevin knew all sorts of stuff that I didn’t, and vice versa.

MM: Did this experience change your views on global finance, investing, and the lot? Or did it reinforce your views? In either case, what was that key view?

Hutchinson: I think it crystallized and reinforced my view that Wall Street has gone wrong in the last 25 years, and that misguided incentives and agency problems are crucial in explaining why it went off the rails. I did a piece, “The rent seekers of Wall Street,” in April 2006, so I was already thinking along these lines, but doing the book made it all much clearer. Chapter 7 (mostly Kevin) on managerial versus shareholder capitalism was also key to explaining what had gone wrong.

MM: Did anything surprise you in your research? In other words, is there something you found out, or discovered, that created a “holy cow!” moment?

Hutchinson: There were several. Among the most illuminating was the discovery that Overend, Gurney & Co. (a London wholesale discount bank that was known as “the banker’s bank), which had gone bust in 1866, had made essentially the same mistakes as Lehman Brothers!

MM: Is there anything else about this experience, or your research, that you’d like to mention?

Hutchinson: Books, particularly with a really good collaborator (so you have someone to discuss it with, apart from the unfortunate wife and family), and a publisher you have confidence in, are enormously satisfying to write, because you feel (somewhat spuriously, of course) that you’ve done something permanent. Journalism, let alone blogs, doesn’t do that.

Years from now – say, in 2300 – the book will still be in the British Museum Reading Room and the Library of Congress. So some future economic history student can get his Ph.D through rediscovering it!

Get the safest gold at the lowest prices using the award-winning world No.1, BullionVault…
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Top 10 Most Profitable U.S.-Listed Chinese Stocks: CIS, SCOK, GA, CYOU, CNYD, PWRD, STV, BIDU, CEU, NTES (Oct 24, 2010)

Below are the top 10 most profitable U.S.-listed Chinese stocks for the last 12 months, UPDATED TODAY before 4:30 AM ET.

Camelot Information Systems Inc (NYSE:CIS) is the 1st most profitable stock in this segment of the market. Its net profit margin was 76.45% for the last 12 months. Its operating profit margin was 78.33% for the same period. SinoCoking Coal and Coke Chem Ind, Inc. (NASDAQ:SCOK) is the 2nd most profitable stock in this segment of the market. Its net profit margin was 65.96% for the last 12 months. Its operating profit margin was 33.24% for the same period. Giant Interactive Group Inc (NYSE:GA) is the 3rd most profitable stock in this segment of the market. Its net profit margin was 64.12% for the last 12 months. Its operating profit margin was 60.93% for the same period. Changyou.com Limited(ADR) (NASDAQ:CYOU) is the 4th most profitable stock in this segment of the market. Its net profit margin was 54.79% for the last 12 months. Its operating profit margin was 61.74% for the same period. China Yida Holding, Co. (NYSE:CNYD) is the 5th most profitable stock in this segment of the market. Its net profit margin was 47.46% for the last 12 months. Its operating profit margin was 66.61% for the same period.

Perfect World Co., Ltd. (ADR) (NASDAQ:PWRD) is the 6th most profitable stock in this segment of the market. Its net profit margin was 43.91% for the last 12 months. Its operating profit margin was 46.29% for the same period. China Digital TV Holding Co., Ltd. (NYSE:STV) is the 7th most profitable stock in this segment of the market. Its net profit margin was 43.35% for the last 12 months. Its operating profit margin was 38.44% for the same period. Baidu.com, Inc. (ADR) (NASDAQ:BIDU) is the 8th most profitable stock in this segment of the market. Its net profit margin was 41.52% for the last 12 months. Its operating profit margin was 46.78% for the same period. China Education Alliance, Inc. (NYSE:CEU) is the 9th most profitable stock in this segment of the market. Its net profit margin was 41.16% for the last 12 months. Its operating profit margin was 44.12% for the same period. NetEase.com, Inc. (ADR) (NASDAQ:NTES) is the 10th most profitable stock in this segment of the market. Its net profit margin was 41.10% for the last 12 months. Its operating profit margin was 47.48% for the same period.

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Top 10 Most Profitable U.S.-Listed Chinese Stocks: CIS, SCOK, GA, CYOU, CNYD, PWRD, STV, BIDU, CEU, NTES (Oct 24, 2010)

Today’s STOCK MARKET DOW JONES INDUSTRIAL AVERAGE DJI, S&P 500, NASDAQ INDEX TRENDS, NOTES October 23rd, 2010 Week’s Review

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It was a roller coaster of a week in the stock market with trend lines fluctuating up and down without ever establishing a consistent direction. The news that posted this week caused the Dow Jones Industrials, Nasdaq and S&P 500 to oscillate between conflicting positions and in the end to little surprise, the data closed out the week mixed. Monday brought The National Association of Home Builders report. It stated that the monthly index of builders sentiment rose from 3 to 16 points in October. This was a nice move for builders sentiment, but not near 50 which is the value that represents the beginning tier of the positive side of sentiment index values. This news did however help stock index values find green which held through end of day close on Monday. Tuesday, news broke that for the first time in three years, the Peoples Bank of China raised its benchmark deposit and lending rates in an attempt to slow it's economy down. Specifically, China raised it's key lending rate to 2.50% from 2.25%. Stock action during the U.S. session fell off significantly once word of this development spread Tuesday. Overall on Wednesday, stocks rose on strong earnings reports from airlines and manufacturers. Consumer spending remained steady and sales of new or used vehicles was on the rise. The real estate sector was still weak. Overall, it was a positive session in the U.S. market for Wednesday. The market responded well on Thursday to company earnings data as analysis reveals that the range and scope of the positive reporting implies that companies continue to do well even during this time of slow economic recovery. The governments weekly jobless claims report also showed a drop in the number of Americans filing for first time unemployment insurance. Overall, it was an up in the green day for the market on Thursday. Friday, brought about mixed reactions however. Friday saw the Dow end it's two day winning streak. Overall, data to end the week was mixed with no major news pushing direction. The Dow Jones Industrial Average closed out October 22nd, 2010 in the red by .13% at 11,132.56. The S&P 500 was in the green by .24% and finished the day at 1,183.08 and the Nasdaq closed out today in the green as well up .80% at 2,479.39. Author: Frank Matto

Today's STOCK MARKET DOW JONES INDUSTRIAL AVERAGE DJI, S&P 500, NASDAQ INDEX TRENDS, NOTES October 23rd, 2010 Week's Review

Resistance Looms Overhead

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Resistance Looms Overhead Investorplace.com – Oct 22, 2010 The Dow Jones Industrial Average made a new five-month high yesterday, but could not hold the gain. Although still ahead by 0.35% at the close, at one point it had been 1% higher, but a surge in … US EQUITIES WEEK AHEAD: More 3Q Reports; Home Sales, GDP Data – NASDAQ

Resistance Looms Overhead

Stocks to Watch at NASDAQ Transportation Sector are (JBLU, DRYS, EGLE, HA, ATSG)

Dear PSL members JetBlue Airways Corporation (NASDAQ: JBLU) surged 3.32%, closing the day at $6.84 with the overall trading volume of 7.32 million shares for the day. Its market capitalization is $2.01 billion and in 52 weeks the price range remained $4.64-$7.24. DryShips Inc. (NASDAQ: DRYS) increased 0.47%, closing the day at $4.24 with the overall trading volume 5.89 million shares for the day. Its market capitalization is $1.25 billion and in 52 weeks the price range remained $3.28-$7.38. Eagle Bulk Shipping Inc. (NASDAQ: EGLE) plunged 0.19%, closing the day at $5.15 with the overall trading volume of 1.59 million shares for the day. Its market capitalization is $320.41 million and in 52 weeks the price range remained $3.91-$6.75. Hawaiian Holdings, Inc. (NASDAQ: HA) gained 2.37%, closing the day at $7.33 with the overall trading volume of 648,239 shares for the day. Its market capitalization is $379.43 million and in 52 weeks the price range remained $4.69-$8.79. Air Transport Services Group Inc. (NASDAQ: ATSG) reported a gain of 0.15%, closing the day at $6.81 with the overall trading volume of 339,527 shares for the day. Its market capitalization is $434.31 million and 52 week price range remained $1.78-$6.95.
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