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Diamond Foods Hires Kodak's Adviser

twocents@thestreet.com (Antoine Gara) — Wed, 08 Feb 2012 23:26 GMT

NEW YORK(TheStreet) - The consulting firm that is advising Eastman Kodak on its bankruptcy reorganization is now contributing its financial savvy to Diamond Foods after an audit investigation revealed two years of accounting misstatements at the company, leading to the dismissal of two top executives.

On Wednesday, Diamond Foods hired Michael Murphy, a managing director at restructuring specialist Alix Partners to be the firm's CFO, replacing Steven Neil effective immediately as part of a sweeping management and board shakeup.

Neil and Michael Mendes, who had served as Diamond Foods' CEO and chairman, have been placed on administrative leave. Board director Rick Wolford was named action CEO, while independent director Robert Zollars will become the snack foods company's chairman. ...

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Bank of America, HP, United Technologies: Dow Movers

twocents@thestreet.com (Alexandra Zendrian) — Wed, 08 Feb 2012 23:08 GMT

NEW YORK (TheStreet) -- The major U.S. equity indices eked out gains on Wednesday with the European Central Bank divided about the debt restructuring needed in order for Greece to receive another round of bailout money.

The Dow Jones Industrial Average rose 5.75 points, or 0.04%, to 12,883.95 on Wednesday. The S&P 500 increased 2.91 points to 1,349.96 and the Nasdaq Composite posted an 11.78 point gain to close at 2,915.86.

Breadth within the Dow was positive with 16 of the index's 30 components posting gains on Wednesday. Both Alcoa and Verizon ended Wednesday flat. ...

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Groupon Shares Fall on Surprise Loss (Update 1)

twocents@thestreet.com (Olivia Oran) — Wed, 08 Feb 2012 22:56 GMT

Updated from 4:54 p.m. ET to include executive comments.

NEW YORK (TheStreet) -- Groupon shares plummeted nearly 15% in after-hours trading on Wednesday after the online daily deals company missed Wall Street's earnings expectations for its fourth-quarter results.

The company, which issued its first quarterly report as a public company since completing its IPO in early November, posted an adjusted loss of $9.8 million, or 2 cents a share. Revenue nearly tripled to $506.5 million. ...

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P&G to Weigh Options for Pringles

twocents@thestreet.com (Alexandra Zendrian) — Wed, 08 Feb 2012 22:52 GMT

NEW YORK (TheStreet) -- Procter & Gamble is considering its options for its Pringles brand after would-be acquirer Diamond Foods said it's restating its financials for the past two years.

Paul Fox, a spokesperson for P&G, said the news of Diamond Foods' restatement and its plans to replace top executives was "very disappointing" and that the company plans to look at its next steps as Pringles is a "very valuable asset" that has garnered interest from other parties.

"We're keeping all options open," Fox said. ...

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8 Sexy Tips for Valentine's Day Savings

twocents@thestreet.com (MoneyTalksNews.com) — Wed, 08 Feb 2012 22:35 GMT

There's nothing sexier than a mate with money. And you'll have more of it by using these simple tips to get maximum romance with minimum cash.

Groupon Falls; Cisco Gains

twocents@thestreet.com (Chao Deng) — Wed, 08 Feb 2012 22:24 GMT

Company earnings take the spotlight after Wednesday's close.

Rick Santorum Raised $250,000 Tuesday Night

twocents@thestreet.com (Joe Deaux) — Wed, 08 Feb 2012 22:21 GMT

NEW YORK (TheStreet) -- Rick Santorum raised some $250,000 Tuesday night as supporters flocked to the former Pennsylvania senator during his surprise triple victory in Minnesota, Missouri and Colorado.

The GOP presidential candidate said that figure was part of $400,000 his campaign gathered across a two-day bump that was likely only the beginning of what could be a huge momentum-gathering period of his race.

Former Pennsylvania Sen. Rick Santorum ...

Akamai, Groupon, Cisco: After-Hours Trading

twocents@thestreet.com (Michael Baron) — Wed, 08 Feb 2012 22:11 GMT

NEW YORK (TheStreet) -- Shares of Akamai Technologies surged in late trades on Wednesday after the Web content delivery company waltzed past Wall Street's profit view for its fiscal fourth quarter.

The Cambridge, Mass.-based company reported normalized net income of $83 million, or 45 cents a share, for the December-ended period on revenue of $323.7 million, up 15% on a sequential basis. The average estimate of analysts polled by Thomson Reuters was for a profit of 40 cents a share in the quarter on revenue of $311.3 million.

Akamai also named James Benson chief financial officer, replacing J. Donald Sherman, who has served in the role since 2006 and is leaving to join a private company. Benson, currently senior vice president of finance at Akamai, will take over as CFO effective March 1. ...

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7 Bank Stocks Loved by Deutsche Bank (Update 3)

twocents@thestreet.com (Philip van Doorn) — Wed, 08 Feb 2012 21:32 GMT

Updated with market close information.

NEW YORK (TheStreet) -- Amid the year-to-date euphoria for bank stocks, some investors and analysts are considering the possibility of a breather, and looking further ahead to justify sector holdings.

Just this morning, Collins Stewart analyst Matthew Czepliewicz lowered his rating on Morgan Stanley to "Hold" from "Buy," following "the share price's near-60% surge since last November." Czepliewicz's $23 price target for the shares still implies 14% upside from Tuesday's closing price of $20.26. Investors yawned, pushing the shares up another 1%, to close at $20.44. ...

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Cisco Conference Call: Live Blog

twocents@thestreet.com (James Rogers) — Wed, 08 Feb 2012 21:32 GMT

Cisco Earnings Live Blog

SAN JOSE, Calif. (TheStreet) -- Investors will be looking for further evidence that Cisco's turnaround story is continuing when the networking giant reports its fiscal second-quarter results after market close on Wednesday.

The networking gear maker has emerged from one of the toughest periods in its history, marred by execution problems, weak consumer spending and stiff competition from the likes of Juniper. ...

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Cisco Beats on Earnings, Raises Dividend

twocents@thestreet.com (Chris Ciaccia) — Wed, 08 Feb 2012 21:29 GMT

NEW YORK (TheStreet) -Cisco trounced Wall Street's profit view for its fiscal second quarter Wednesday as the networking giant seized market share from its competitors.

The Dow component reported non-GAAP earnings of $2.6 billion, or 47 cents a share, in the January-ended period on revenue of $11.5 billion. Wall Street analysts polled by Thomson Reuters expected Cisco to report earnings of 43 cents per share on $11.23 billion in revenue.

By contrast, Cisco rival Juniper Networks recently reported lower than expected earnings, as the company said customer spending slowed in its fourth quarter. ...

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5 Expensive Bank Stocks Still Worth Buying (Update 3)

twocents@thestreet.com (Philip van Doorn) — Wed, 08 Feb 2012 21:21 GMT

Updated with market close information.

NEW YORK (TheStreet) -- For financial-stock investors, it can pay to step back and focus on actual success, rather than just looking for cheap prices in a recovering industry.

TheStreet has identified five quality banks showing strong asset growth over the past year, along with sequential and year-over-year net revenue growth. ...

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Stocks Close Higher Despite Greek Debt Woes

twocents@thestreet.com (Chao Deng, Andrea Tse and Kaitlyn Kiernan) — Wed, 08 Feb 2012 21:19 GMT

NEW YORK (TheStreet) -- Stocks finished higher Wednesday as the market digested news that the European Central Bank remains divided over how it will contribute to a Greek debt restructuring, and as Prime Minister Lucas Papademos began negotiations with Greek political leaders.

The Dow Jones Industrial Average climbed 5.75 points, or just 0.04%, to 12,884. The S&P 500 rose 2.9 points, or 0.2%, to 1,350, and the Nasdaq finished 11.8 points higher, or 0.4%, at 2,916.

"With a lack of economic data today, the markets are focused overseas with the financial problems in Greece," says Stephen Carl, head equity trader at Williams Capital Group. "Without a concrete agreement the markets will not show much strength." ...

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3 Energy Stocks Hitting 52-Week Highs: MarkWest, Western Gas, Plains Exploration

twocents@thestreet.com (Alexandra Zendrian) — Wed, 08 Feb 2012 21:16 GMT

NEW YORK (TheStreet) -- Shares of these three energy companies reached 52-week highs on Wednesday: MarkWest Energy Partners, Western Gas Partners and Plains Exploration & Production.

MarkWest Energy Partners

The natural gas company raised its fourth-quarter dividend 11 cents to 76 cents a share last month. ...

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Bank of America Cracks $8: Financial Winner

twocents@thestreet.com (Philip van Doorn) — Wed, 08 Feb 2012 21:12 GMT

NEW YORK (TheStreet) -- Bank of America was the winner among the largest U..S. banking names on Wednesday, with shares rising 4% to close at $8.13.

The broad indexes saw slight gains, as investors continued to wait for European Central Bank member nations to agree on contributions to the Greek sovereign debt restructuring, as part of a 130 euro ($171 billion) bailout, to which the European Union and the International Monetary Fund also plan to contribute. Private creditors have largely already agreed to take haircuts of up to70% on their Greek sovereign debt holdings.

Meanwhile, the deadline for a mortgage foreclosure settlement between the largest loan servicers, federal regulators and as many of the 50 states' attorneys general as possible, was extended through Thursday, with New York AG Eric Schneiderman abruptly cancelling a press conference scheduled for 6PM on Tuesday. ...

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Verizon Next in Antitrust Crosshairs (Update 1)

twocents@thestreet.com (Antoine Gara) — Wed, 08 Feb 2012 21:03 GMT

Updated to reflect Evercore Partners analyst comments starting in the fifth paragraph.

NEW YORK(TheStreet) --Verizon may need to get ready for some of its own antitrust pain.

AT&T was the government's antitrust punching bag in 2011 after regulators blocked a $39 billion merger with T-Mobile USA. Now with AT&T on the deals sideline, Verizon's $3.6 billion December purchase of wireless spectrum from a joint venture held by Comcast, Time Warner Cable and Bright House Networks is now in the crosshairs, according to analysts and previous Bloomberg reports. ...

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Is It Time to Go All-In on Stocks?

twocents@thestreet.com (Lindsey Bell ) — Wed, 08 Feb 2012 20:57 GMT

NEW YORK (TheStreet) -- BlackRock CEO Larry Fink thinks investors should invest 100% of their portfolio in stocks. This, after the S&P 500 gained nearly 7% in the first six weeks of the year.

Fink's argument, which he made during an interview with Bloomberg TV, is based on the idea that stocks should outperform bonds in the backdrop of an easy-money policy. Add to that valuations that are at 20- or 30-year lows, and you have a recipe for solid stock returns. Larry Fink, CEO of BlackRock

Chris Konstantinos, portfolio manager at Riverfront Investment Group, likens it to the 1990s when the opposite scenario was true -- stocks were overvalued and bonds were undervalued. Investors have to decide how much they are willing to pay for overvalued bonds now. ...

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VXX Bull Put Spread Trade Alert

twocents@thestreet.com (Matthew "Whiz" Buckley) — Wed, 08 Feb 2012 20:45 GMT

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK (TheStreet) -- Strategic Mindset: Moderately bearish with expectation of an increase in volatility.

Target: VXX Trading at $24.44....

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Top 10 Technology ETFs

twocents@thestreet.com (Dave Fry) — Wed, 08 Feb 2012 20:18 GMT

NEW YORK (ETF Digest) -- Currently there are nearly three dozen ETFs oriented to the technology sector with more on the way. The following analysis features a fair representation of ETFs available. We believe from these investors may choose an appropriate ETF to satisfy the best index-based offerings individuals and financial advisors may utilize.

We're not ranking these ETFs favoring one over another so don't let the listing order mislead you. Although we may use some of these in ETF Digest portfolios it's not our intention to recommend one over another.

ETFs are based on indexes tied to well-known index providers including Russell, S&P, Barclays, MSCI, Dow Jones and so forth. Also included are some so-called "enhanced" indexes that attempt to achieve better performance through more active management of the index. ...

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6 Stocks Hitting 52-Week Highs: AAPL, NKE, RL, TWX, HOG, MSG

twocents@thestreet.com (Alexandra Zendrian) — Wed, 08 Feb 2012 20:01 GMT

NEW YORK (TheStreet) -- Shares of Apple, Nike, Time Warner, Ralph Lauren, Harley-Davidson and Madison Square Garden hit 52-week highs on Wednesday.

Apple

There was speculation on Wednesday in The Washington Post regarding the launch date of Apple's iPad 3. Most believe the launch will happen in March or April, the newspaper said. ...

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Trading Coal Stocks: Between Bankruptcy Risk and a Bottom

twocents@thestreet.com (Eric Rosenbaum) — Wed, 08 Feb 2012 19:37 GMT

NEW YORK (TheStreet) -- The situation continues to look pretty bad for coal stocks, as it has since last year.

Low natural gas pricing and weak demand in a warm winter has kept a lid on coal. The steel market growth profile in 2012 and need for metallurgical coal is OK at best. These companies are in a difficult balance sheet situation, but they've been here and done this cash crunch dance before. Smart investors often say to buy when there is fear in the market, and coal stocks have come back a little from October lows.

Is the next move closer to bankruptcy or an extended bounce? It can't get much worse for coal stocks, or can it? ...

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LinkedIn: The "Other Social Network" (Update 1)

twocents@thestreet.com (Chris Ciaccia) — Wed, 08 Feb 2012 19:36 GMT

Updated from 11:15 a.m. EST to provide risk factors listed in S-1 filing and updated share price.

NEW YORK (TheStreet) - LinkedIn may not be as sexy as Facebook, but just as Facebook has proved a disruptive presence in advertising, the other social network has transformed the job seeking industry.

The Mountain View, Calif.-based firm reports its fourth-quarter results later this week, hot on the heels of daily deals site Groupon. ...

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Buy McDonald's!: Against the Grain

twocents@thestreet.com (Marek Fuchs) — Wed, 08 Feb 2012 19:33 GMT

Marek Fuchs, senior contributing analyst at TheStreet, eats up McDonald's sales numbers.

8 Stocks Under $10 Moving Higher

twocents@thestreet.com (Roberto Pedone) — Wed, 08 Feb 2012 19:33 GMT

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

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 moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst like a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst upgrade.

>>5 Earnings Stocks Poised to Pop ...

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Gold Prices Fall on Greek Debt Drama

twocents@thestreet.com (Alix Steel) — Wed, 08 Feb 2012 19:22 GMT

NEW YORK (TheStreet ) -- Gold prices tracked the euro lower Wednesday as the market was jittery waiting for a Greece debt deal.

Gold for April delivery closed down $17.10 at $1,731.10 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,754.80 and as low as $1,729.10 an ounce while the spot price was shedding $14.80, according to Kitco's gold index. ...

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Wednesday's Top 10 Articles, Videos on TheStreet

twocents@thestreet.com (TheStreet Staff) — Wed, 08 Feb 2012 19:19 GMT

NEW YORK (TheStreet) -- In case you missed them, here are the top 10 most popular articles and videos on TheStreet today. Sign up for free email delivery of our daily Top 10.

5 Earnings Stocks Poised to Pop Roberto Pedone These heavily shorted stocks could get squeezed much higher if they report positive earnings this week. (Stocks include: SIRI, STMP, NUAN)

Two Banks With Solid Revenue Philip van Doorn These banks have bucked the trend, with strong revenue growth over the past year. ...

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Is Netflix Doomed?

twocents@thestreet.com (Olivia Oran) — Wed, 08 Feb 2012 19:14 GMT

NEW YORK (TheStreet) -- Amazon's new licensing deal with Viacom could spell trouble for incumbent streaming player Netflix.

The partnership, which allows Amazon to offer consumers access to TV shows from channels like MTV and Comedy Central through its Prime Instant Video Service, brings the company's streaming titles to around 15,000.

While video streaming is currently offered for free as part of Amazon's two-day shipping service Prime, the company is reportedly considering carving out the operation as a standalone, subscription-based business, which industry analysts and investment professionals say could post a direct threat to Netflix. ...

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ETF Mid-Week Peek

twocents@thestreet.com (ETF Digest) — Wed, 08 Feb 2012 19:14 GMT

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

By David Gillie

NEW YORK (ETF Digest) -- This week the market launched into a state of euphoria that we haven't seen since the announcement of QE2 and pre-crash highs of 2007. Better-than-expected jobs number was the main catalyst. Bernanke testified before Congress and although he didn't say where, when or how, traders heard the market will never go down. Perhaps he blinked it with his eyes in Morse code. ...

3 Booming Tech Stocks (Not Apple) to Own for 2012

twocents@thestreet.com (James Rogers) — Wed, 08 Feb 2012 18:29 GMT

Story updated with Apple's new high and additional IBM information.

NEW YORK (TheStreet) -- IBM, Qualcomm and Microsoft offer investors that perfect combination of dividend stability and robust growth, say analysts.

From IBM's booming software sales to Qualcomm's ongoing smartphone success and Microsoft's 2012 resurgence, the trio offer plenty of growth opportunities, while still paying decent dividends. Apple, which has superior revenue and profit growth, pays no dividend, though investors speculate that may change, given the nearly $100 billion cash pile. IBM is one of the tech heavyweights combining a stable dividend with strong growth. ...

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Consider These Bank Stocks for the Long Term

twocents@thestreet.com (Philip van Doorn) — Wed, 08 Feb 2012 10:15 GMT

These banks have bucked the trend, with strong revenue growth over the past year.