It was a brief victory lap for TheStreet.com and its sister publication The Deal (see our Procter & Gamble Co. (PG) coverage from earlier this year), which were off and running on a host of stories Monday as earnings season kicked off in earnest.
We were in full swing with an in-depth look at potential options for two of the nation's largest telecoms: AT&T Inc. (T) and Sprint Corp. (S) . First, we looked at the AT&T- Time Warner Inc. (TWX) tie-up (A deal that should be closing soon), and then we dove into what an intervention from Warren Buffett's Berkshire Hathaway Inc. (BRK.A) or John Malone's Liberty Media Corp. (LMCA) could mean for second-tier telco Sprint.
On the earnings front, while attention remained affixed on Netflix Inc. (NFLX), there were compelling stories trickling out of the financial sector. Shares of BlackRock Inc. (BLK) , the world's biggest asset manager, tumbled the most in 17 months as fund fees rose less than analysts had expected, even as investors poured money into the firm's iShares exchange-traded funds at a record pace.
And even still, more was percolating under the surface as the markets remained relatively flat in anticipation of the coming second-quarter earnings wave.
U.S.-listed multinationals such as Caterpillar Inc. (CAT) , Honeywell International Inc. (HON) and 3M Co. (MMM) could start to garner some attention, according to Jim Cramer, TheStreet's co-founder and portfolio manager of the Action Alerts PLUS charitable trust portfolio. These companies, he said, that have been on a steady path higher and could continue to do so given that they all book greater than 50% of their business overseas.
Rio Tinto plc (RIO) , another multinational with more than 50% of revenue overseas and a U.S. listing, could also be headed higher, according to Cramer. Technical analyst Bruce Kamich seconded Cramer's assertions on Rio Tinto.
Speaking of companies on the upswing, embattled Valeant Pharmaceuticals International Ltd. (VRX) remained in the limelight, as shares ticked up on the back of yet another divestiture aimed to reduce debt. Funny story, though, the divested asset -- skincare company Obagi Medical -- wouldn't even be part of the Laval, Quebec-based company's portfolio if not for interference from, you guessed it, activist investors. Not all that glitters is gold....