Today on <I>TSC:</I> The Living Isn't Easy for BMC, Computer Associates
Unpleasantness greeted people who came back from the long holiday weekend, and it's a powerful reminder that while Wall Street action might seem sleepy, you just can't turn your back on the markets. Today came word of more
earnings warnings and downgrades, especially
Computer Associates
(CA) - Get Report
and
BMC Software
(BMCS)
, which combined to put the whammy on the
Nasdaq
at midday. The chip sector in general got downgraded, and
Abby Joseph Cohen
of
Goldman Sachs
was sounding downright pessimistic.
Key stocks:
Some
OPEC
members seem determined to
boost oil production, which sent stocks such as
Exxon Mobil
(XOM) - Get Report
,
Texaco
(TX) - Get Report
and
Chevron
(CHV)
down. Meanwhile,
Phillips Petroleum
(P)
was
upgraded.
What you might have missed:
The significance of insider trading is debated hotly among those involved in the markets, but we think that used wisely, it's vital information for average investors. Which is why we're beefing up our coverage in this area. Check out reporter
Robert Kowalski's
special on how the
Securities and Exchange Commission
is getting close to its first-ever written rules explicitly forbidding insider trading in certain circumstances. Meanwhile, the SEC also is pushing the nation's 20,000 investment advisory firms to
tell more about who they are and how they do business, so that the information can be communicated to investors on the Web.
What you don't want to miss:
Now that the news out of Japan seems to be turning bullish, be sure to check out our
Big Screen from the weekend, which focused on Japan funds. And what's the outlook in Mexico after the first new ruling party in 70 years was swept into power? Tune in tonight for
Ilana Polyak's
report.
Today's link:
Ever
wonder how...
Jonathan Krim is executive editor of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He welcomes your feedback at
jkrim@thestreet.com.
