Leave it to a communist dictator to calm the markets. I kid, but it happened, as stocks surged on Tuesday, following a speech from Chinese President Xi Jinping in which he pledged to open more sectors to foreign companies. Xi did little to quell fears of a trade war, warning against a "Cold War mentality" with the U.S. but the major indexes ticked higher nonetheless.
While everyone one fixated on Facebook (FB) - Get Report -- and I get it, how couldn't you be -- TheStreet also decided it was time to also check out some companies that may not be grabbing headlines but are indeed good looks for investors. Jim Cramer goes back to the tech sector for his latest highlights, taking a look at Proofpoint (PFPT) - Get Report , which was upgraded at Goldman Sachs after the firm previous held a sell rating; Nvidia (NVDA) - Get Report , which received a "critical hold-to-buy rating on from Morgan Stanley;" and Seagate (STX) - Get Report , which also enjoyed the fruits of an upgrade from Morgan Stanley. Cramer doesn't stop at tech and also delves into the much maligned oil sector -- pointing out that ExxonMobil (XOM) - Get Report ("One of the lowliest of the low Dow stocks," he says) caught an upgrade from Merrill Lynch acknowledging that this stock trades as if oil were dramatically lower than it is.
Oh just get it over with. I'm sure went through many investors' minds as T-Mobile (TMUS) - Get Report and Sprint (S) - Get Report merger rumored percolated again. According to The Deal's Chris Nolter the latest scuttlebutt is likely just wishful thinking. That is, unless Masatoshi Son, the head of Sprint owner SoftBank, has decided he will accept a minority stake in a merged telecom. Fat chance, Nolter writes and walks us through the previous discussions. The telecoms acknowledged talks last summer, but negotiations fizzled by the fall. Son told investors in November that he would not cede a majority stake in the merged telecom to T-Mobile investors. "If we give up the control of Sprint in such an important market, we would regret that in 5 years, 10 years," Son said in an investor call.
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Photo of the day: In the beginning
Safe to say that up until a few weeks ago it had been a pretty successful run for Facebook's Mark Zuckerberg (pictured above with fellow Facebook co-founder Chris Hughes). From dropping out of Harvard University to running one of the largest companies in the world he has built the social network into an international powerhouse with hundreds of millions of users. But from the halls of Harvard to Capitol Hill Zuck goes this week as those millions of Facebook users feel violated after a data breach at the company. Zuckerberg's testimony seems to have succeeded in soothing some concerns so far. Shares of Facebook concluded the regular trading day up 4.5% to $165.04. Read More
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