24/7 Wall St. » OSTK

Sears, Overstock, And Gilt Hammered In New E-Commerce Study

247wallst — Wed, 09 May 2012 15:12:08 +0000

Sears (NASDAQ: SHLD), Overstock (NASDAQ: OSTK), and Abercrombie & Fitch (NYSE: ANF) are not particularly well-regarded as brands or particularly well-liked by Wall St. Perhaps coincidentally, each shows up near the bottom of the e-retailer satisfaction list published by research firm Foresee. All are in the bottom 15% of the 100 companies rated.

The FORESEE E-RETAIL SATISFACTION INDEX (SPRING TOP 100 EDITION 2012) is the result of approximately 21,000 responses from visitors to the top 100 retail sites. The data posts year-over-year comparisons of both industry average satisfaction and satisfaction with individual retailers.

The bottom ten sites in the survey, based on a total best score of 100 were:

Nutrisystem.com (NASDAQ: NTRI) 74

PCConnection.com 74

PCMall.com 754

Safeway.com (NYSE: SWY) 74

Abercrombie.com 73

Build.com 73

Gilt.com 71

Peapod.com 70

Ancestry.com (NASDAQ: ACOM) 69

efollett.com 69

The presence of Gilt at the bottom is somewhat of a surprise given that it caters to high end customers.

At the top of the list, are several companies which would be expected. The first among them is the world’s largest e-commerce company–Amazon (NASDAQ: AMZN). Fortunately for Barnes & Noble (NYSE: BKS) which is in a battle with Amazon in the e-reader business, its site scored well. The company recently took an investment from Microsoft (NASDAQ: MSFT) to expand its Nook e-reader division. Apple (NASDAQ: AAPL), which is generally well-regarded for customer service across its online and bricks and mortar retail operations, also did well. The one surprise on the list is Avon (NYSE: AVP), which has struggled with its image.

Amazon.com 89

QVC.com 85

Store.Apple.com 85

Keurig.com 84

Avon.com 83

LLBean.com 83

1800Contacts.com 82

BN.com 82

Newegg.com 82

Douglas A. McIntyre

Filed under: Research, Retail Tagged: AAPL, ACOM, AMZN, ANF, AVP, BKS, featured, MSFT, NTRI, OSTK, SHLD, SWY

24/7 Wall St. Closing Bell (TRV, LOW, MSI, PCS, MWW, BIG, GCO, BIOF, BAGL, YELP, SFLY, VRNG, PRTS, OSTK)

Paul Ausick — Fri, 02 Mar 2012 21:18:09 +0000

The major US stock indexes opened lower this morning following some weak data on European unemployment. Buyers tried to come back but low volume so far has kept trading lower, and a last-minute rally seems to have gone nowhere. The dollar is stronger today, with the dollar index up 0.75% at 79.379. The stronger dollar is pushing some commodities down, with crude oil the hardest hit. WTI crude closed down -2% at $106.70/barrel and Brent crude is down -1.84% at $123.88/barrel. Gold settled down -0.7% at $1,709.80/ounce.

The unofficial closing bells put the DJIA down nearly 3 points to12,977.57 (-0.02%), the NASDAQ fell nearly 13 points -0.43%) to 2,976.19, and the S&P 500 fell -0.32% or nearly 4.5 points to 1,369.63.

There were several analyst upgrades and downgrades today, including Travelers Companies (NYSE: TRV) cut to ‘equal weight’ at Morgan Stanley; Lowe’s Companies (NYSE: LOW) raised to ‘equal weight’ at Morgan Stanley; Motorola Solutions Inc. (NYSE: MSI) raised to ‘outperform’ at Credit Suisse; MetroPCS Communications Inc. (NYSE: PCS) maintained as ‘buy’ with $15 target price at Argus; and Monster Worldwide Inc. (NYSE: MWW) cut to ‘neutral’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Big Lots Inc. (NYSE: BIG) is down -4.2% at $42.61; Genesco Inc. (NYSE: GCO) is up 4.2% at $73.58 after posting a new 52-week high of $74.89 earlier today; Biofuel Energy Corp. (NASDAQ: BIOF) is up 5.5% at $0.76; and Einstein Noah Restaurant Group Inc. (NASDAQ: BAGL) is up 3.6% at $14.99.

Here’s our preview of next week’s earnings announcements.

Other standouts from today include the following stocks:

Yelp Inc. (NYSE: YELP) is up nearly 64% at $24.55 following its IPO at $15/share this morning. Move coverage here.

Shutterfly Inc. (NASDAQ: SFLY) is up 16% at $31.22. The social networking company has struck a deal with Eastman Kodak Co. (EKDKQ) to provide a stalking-horse bid for some of Kodak’s assets. More coverage here.

Vringo Inc. (AMEX: VRNG) is up more than 13% at $1.63. The social network app maker is probably getting a bump from the success of Yelp’s IPO.

U.S. Auto Parts Network Inc. (NASDAQ: PRTS) is down more than -19% at $4.00. The retail parts auto parts distributor missed consensus estimates last night.

Overstock.com Inc. (NASDAQ: OSTK) is down more than -11% at $6.11 after posting a new 52-week low of $5.89 earlier this morning. The online discounter posted an unexpectedly quarterly loss this morning.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

10:00 a.m. – Factory orders
10:00 a.m. – ISM non-manufacturing index
11:30 a.m. – 3- and 6-month Treasury bill auction

Have a great weekend!

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: BAGL, BIG, BIOF, GCO, LOW, MSI, MWW, OSTK, PCS, PRTS, SFLY, TRV, VRNG, Yelp

Mid-day Movers (YELP, SFLY, QPSA, PRTS, OSTK)

Paul Ausick — Fri, 02 Mar 2012 17:26:49 +0000

At about noon today, all three major US stock indexes are lower, with the DJIA down about 30 points at around12,950, the Nasdaq down about 7 points at 2,982, and the S&P 500 down nearly 5 points to around 1,369. After opening lower this morning following some weak data on European unemployment (more coverage here), markets tried to come back but low volume so far has kept trading trending down. The dollar is stronger today, with the dollar index up 0.71% at 79.408. The stronger dollar is pushing some commodities down, with crude oil the hardest hit.

Among the major movers at around noon today are Yelp Inc. (NYSE: YELP), Shutterfly Inc. (NASDAQ: SFLY), Quepasa Corp. (AMEX: QPSA), U.S. Auto Parts Network Inc. (NASDAQ: PRTS), and Overstock.com Inc. (NASDAQ: OSTK).

Yelp is up more than 62% at $24.33 following its IPO at $15/share this morning. Volume is over 14 million shares traded. Move coverage here.

Shutterfly is up nearly 19% at $32.00. Volume is already nearly triple the daily average of about 1.46 million shares traded. The social networking company has struck a deal with Eastman Kodak Co. (EKDKQ) to provide a stalking-horse bid for some of Kodak’s assets. More coverage here.

Quepasa is up more than 12% at $4.56. Volume is already more than double the daily average of about 600,000 shares traded. The Spanish-language social networking company reported better-than-expected revenues, but a net loss last night.

U.S. Auto Parts is down more than -19% at $3.99. Volume is already about 4x the daily average of around 64,000 shares traded. The retail parts auto parts distributor missed consensus estimates last night.

Overstock.com is down nearly -13% at $6.00 after posting a new 52-week low of $5.89 earlier this morning. Volume is already more than 5x the daily average of around 117,000 shares traded. The online discounter posted an unexpected quarterly loss this morning.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: OSTK, PRTS, QPSA, SFLY, Yelp

Morning Movers (SFLY, QPSA, GOLF, MOTR, OSTK)

Paul Ausick — Fri, 02 Mar 2012 15:20:33 +0000

The three major US equities indexes opened lower this morning following some more dreary news from Europe. Spanish unemployment totaled 23.3% in January, and the other weak eurozone nations are struggling too (more coverage here).The DJIA is down about 24 points at around 12,956, the Nasdaq Composite is up about 1.5 points at around 2,990, and the S&P 500 is down nearly 1.5 points at around 1,373.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the Shutterfly Inc. (NASDAQ: SFLY), Quepasa Corp. AMEX: QPSA), Golfsmith International Holdings Inc. (NASDAQ: GOLF), Motricity Inc. (NASDAQ: MOTR), and Overstock.com Inc. (NASDAQ: OSTK).

Shutterfly is up more than 19% at $32.11. Volume is already double the daily average of about 1.46 million shares traded. The social networking company has struck a deal with Eastman Kodak Co. (EKDKQ) to provide a stalking-horse bid for some of Kodak’s assets. More coverage here.

Quepasa is up more than 9% at $4.44. Volume is already higher than the daily average of about 600,000 shares traded. The Spanish-language social networking company reported better-than-expected revenues, but a net loss last night.

Golfsmith is down more than -10% at $3.99. Volume is already more than 3x the daily average of around 7,500 shares traded. The sporting goods maker badly missed both earnings and revenue estimates.

Motricity is down more than -14% at $1.13. Volume is already about half the daily average of around 1.8 million shares traded. The mobile services provider badly missed both revenue and EPS estimates last night.

Overstock.com is down about -12% at $6.05 after posting a new 52-week low of $5.89 earlier this morning. Volume is already nearly 4x the daily average of around 117,000 shares traded. The online discounter posted an unexpectedly quarterly loss this morning.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: GOLF, MOTR, OSTK, QPSA, SFLY

The Best and Worst Online Stores This Holiday

Mike Sauter — Thu, 29 Dec 2011 11:30:35 +0000

Customer service surveys cannot entirely distinguish between true, direct customer service on the one hand and brand perception and reputation of the company providing the service on the other. A look at the customer service scores of the largest retailers proves that point. 24/7 Wall St. examined the internet retailers with the best and worst customer satisfaction ratings based on ForeSee’s Holiday E-retail Satisfaction Index.

Read the ten best online stores this holiday
Read the ten worst online stores this holiday

To put those customer service rankings in context, we looked at how the parent companies that own the websites have performed recently. We found that a strong customer service rating often coincides with a company that has widely regarded brands.

It begs the question: Does Apple (NASDAQ: AAPL) have such a high customer service ranking because so many consumers love the Apple brands? Or, is Apple’s customer service for online shoppers really superior to that of other e-commerce businesses? Apple is tied for second place in the index. Amazon.com is in first place. It also has a sterling reputation with consumers, as do some of its major products like the Kindle.

At the bottom of the ForeSee index are Gap (NYSE: GPS), Sony (NYSE: SNE) and Overstock (NASDAQ: OSTK). Gap recently said it would close 21% of its U.S. flagship stores. Sony has had trouble gaining sales for its PCs, games, smartphone and TV products. Overstock, an also-ran online department store, was founded in the days of the dial-up internet. It is hard to see how any of these could be at the top of the list. Or, perhaps if they were at the top of the list, they would not be in such deep trouble now.

ForeSee’s E-retail Satisfaction Index included the top 40 retailers by sales. The company surveyed 8,500 customers between Thanksgiving and Christmas. Despite its shortcomings, 24/7 Wall St. used the data from ForeSee as a foundation, because it is a reasonable measurement of the experience that consumers have with specific e-commerce sites, whether those sites are part of highly successful companies or ones on the verge of failure.

There is also some evidence that a few troubled retailers have actually performed well online. Whether that success is enough to save the companies themselves is impossible to tell. One such example is Avon (NYSE: AVP), with online service that is tied for second among all e-commerce sites in the ForeSee index. But Avon recently posted a disastrous quarter, and its CEO of 12 years was dismissed. Similarly, JCPenney’s (NYSE: JCP) online operations’ customer satisfaction is equal to Apple’s, which is also tied for second place in the ForeSee rankings. However, JCPenney has lost sales to big-box retailers such as Walmart (NYSE: WMT) for years. It is worth noting that JCPenney just hired the head of retail stores at Apple to turn the bricks-and-mortar retailer around. Apple is one of the few companies that was successful online long before it began to build physical stores.

These are the the companies with the best and worst online customer satisfaction. To draw our conclusions about why they are on the list and what the relationship is between the companies and their e-commerce operations, we examined three factors: the ForeSee satisfaction data, the annual sales of each of the companies, and the amount of traffic each site had in November — the most recent month measured by audience research firm Compete.com. Foresee describes its rating as “Average customer satisfaction with the top 40 U.S. e-retail websites increased by one point this year to tie 2009’s all time high score of 79 on the study’s 100-point scale. Satisfaction scores for individual e retailers span a 16-point range, from a high of 88 (Amazon) to a low of 72 (Overstock).”

Filed under: Research, Retail, Special Report Tagged: AAPL, AVP, BKS, DISH, GPS, JCP, LTD, M, ODP, OMX, OSTK, SHLD, SNE, SPLS, TGT, WMT

Will Apple Lose Top Employees? The Great Brain Drain (AAPL, MSFT, GOOG)

Administrator — Wed, 07 Sep 2011 09:53:34 +0000

When great CEOs leave a company, an entire corporate culture is at risk to change, even when the new CEO is the favored replacement. Tim Cook is said to be more than able to fill the role of Apple’s (NASDAQ: AAPL) CEO permanently now that Steve Jobs has left. There is just one problem in thinking that all things will remain the same except for the “minus Steve Jobs” factor. It is not even that Steve Jobs is one of the most memorable, most hands on, and most influential CEOs out there. Of technology CEOs, he certainly shines. What Apple and its investors have to fear the most is the possible competitive threat of a brain drain.

Apple is not alone. Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOG) have both already experienced this brain drain effect. The risks are not just top executives leaving. The risk is that other employees will follow executive defections in the months and years ahead. More importantly, even the underlings who do not follow former executives to the same destination are either more likely to accept calls from recruiters or are more likely to go pursue new challenges and opportunities. If those employees feel that the best days of growth have been seen or if they feel they have already been made millionaires on stock and options, then the incentive to stay may even be less.

Again, this has happened elsewhere. It is not a definite outcome at Apple, but if it does occur there it will not be the last such case in business history. Now the new destinations for talent are numerous, from gadget-makers, to social media, to internet and software, and to many aspects of hardware. Imagine how many executives at Facebook, Groupon, Zynga, Dell (NASDAQ: DELL), HP (NYSE: HPQ), Oracle (NASDAQ: ORCL), EMC (NYSE: EMC) and elsewhere would love to bring in some of the Apple culture. These companies could certainly lure employees with salaries and stock options.

Microsoft has seen a large amount of brain drain over the past decade, and much was credited to the departure of Bill Gates, when employees could seek new challenges and after they had accumulated wealth. The departures were in the Windows design team, Windows Live, MSN, Xbox and Zune, and on. One of the most noted departures we tracked was Ray Ozzie as chief software architect, which Microsoft-Watch said was on the heels of other key departures. Business Insider gave a list in early 2011 of the top ten departures over the last ten years. What is funny about Microsoft is that the departures are often not usually over pay, but over pressure, lifestyle, and a desire to seek new challenges elsewhere.

Google has suffered a brain drain in recent years as well. The once best place in the world has peaked as far as its ability to grow, compared to the past. Google originally had been able to attract people seeking new challenges, but Google is not really known for being the top salary destination, and its workforce has expanded massively. Back in 2008, Wired wrote about the brain drain that occurs after a four-year or five-year option vesting plan. In late 2010, the company even reportedly instituted pay raises of about 10% to be more competitive. And now we have Larry Page as CEO without the full-time adult supervision of Eric Schmidt.

So, the focus on Apple …

Filed under: Activist Investor, Consumer Electronics, Corporate Governance, Economy, Editor's Picks, Labor & Unions, Management Change, Technology Companies Tagged: AAPL, DELL, GOOG, HPQ, JCP, MSFT, NATI, NTAP, ORCL, OSTK, SFLY

Media Digest (2/24/2011) Reuters, WSJ, NYT, FT, Bloomberg

247wallst — Thu, 24 Feb 2011 09:14:44 +0000

Brent crude rose $6 to $113 on worries about Middle East contagion. (Reuters)

GM (NYSE: GM) is likely to post its first annual profit since 2004. (Reuters)

An effort by shareholders to get Apple (NASDAQ: AAPL) to reveal a succession plan for Steve Jobs was voted down. (Reuters)

AIG (NYSE: AIG) may post a large loss but results from important divisions will be watched by Wall St. (Reuters)

The Administration will push for $20 billion in loan modifications as part of a settlement to settle foreclosure problems. (WSJ)

The US is about to make a decision on an Air Force tanker which will change the fortunes of either Boeing (NYSE: BA) or Airbus. (Reuters)

Most global markets fell on concerns about Libya. (Reuters)

An upcoming event staged by Apple will probably be used to launch the iPad 2. (Reuters)

Samsung released an ultra thin notebook in an attempt to get market share from Apple. (Reuters)

Google’s (NASDAQ: GOOG) YouTube will try to use Bollywood films and cricket to get a larger piece of the market in India. (Reuters)

Rio Tinto (NYSEL RTP) extended its $3.2 billion offer for Riverdale. (Reuters)

Obama will press banks to settle on mortgage foreclosure issues by reducing principles on large numbers of home loans. (WSJ)

A large number of Irish are leaving the country due to austerity measures. (WSJ)

Sears (NASDAQ: SHLD) named technology executive Lou D’Ambrosio as CEO. (WSJ)

The net income at BASF doubled. (WSJ)

Overstock (NASDAQ: OSTK) received penalties from Google (NASDAQ: GOOG) for misusing its AdWords system. (WSJ)

A bond sale from Illinois succeeded but at high interest rates. (WSJ)

Toyota Motor (NYSE: TM) has quietly set up quality support plans. (WSJ)

Wall St. bonuses dropped in 2010. (WSJ)

Oil prices could damage the worldwide recovery. (WSJ)

GE (NYSE: GE) and Siemens will launch electric car charging products. (WSJ)

Google has created software that will allow users to transfer data from Microsoft (NASDAQ: MSFT) desktop software to Apps. (WSJ)

State unionized workers have joined hands and set aside regional differences. (WSJ)

Republicans may set a deal to keep the government open for two weeks and cut $4 billion in spending if a budget agreement is not reached. (WSJ)

Calls for demonstrations in China continue to be made online. (WSJ)

The business of selling used handsets in booming. (WSJ)

A patent infringement case against Abbott (NYSE: ABT) was reversed. (WSJ)

Consumer products companies are having challenges as they try to pass along higher cost of goods prices to customers. (WSJ)

Moody’s reported that investors in distressed debt have done better in this recession than in prior ones. (WSJ)

About 12% of US banks are at risk of failure according to a study from the FDIC. (WSJ)

China may have to import more wheat. (WSJ)

Airlines are trying to raise fares as oil rises. (NYT)

Brent crude rose above $119. (FT)

Credit Suisse is looking at its US unit as part of a tax fraud investigation. (FT)

US farm prices have risen with the surge in the value of commodities. (FT)

The merger between Porsche and VW has slowed as shareholder issues are being scrutinized. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AAPL, ABT, AIG, BA, GE, GM, GOOG, OSTK, RTP, SHLD, TM

The Twitter-24/7 Wall St. Stock Market Watch 4.1

247wallst — Thu, 01 Apr 2010 12:22:25 +0000

Twitter has, by most estimates, 75 million visitors a month, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users.

24/7 Wall St. will look at the Twitter posts at Reuters Biz, WSJ, Financial Times, CNN Money, MarketWatch, CNBC, and 24/7 Wall St. each day to see which stocks are most frequently mentioned. It is clear that in this area of social media these tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 Twitter users which makes them a sizeable sample of Wall St.’s interests. In some cases, we will publish the actual tweets from the sites.

Among the daily top trending symbols on stock twitter aggregator StockTwits are RIM (RIMM), Mosiac (MOS), Ford (F), PMI (PMI), Overstock (OSTK), Potash (POT), ARCA biopharma (ABIO), and Goldman Sachs (GS).

StockTwits: $RIMM Canaccord maintains bullish stance

CNBC: ABC, CBS and Fox affiliates are asking Comcast for a meeting and concessions – I got the details: http://bit.ly/9WY9LN $CMCSA $DIS $CBS $NWS

Reuters Biz: Bombardier profit misses Street view http://link.reuters.com/syn26j

CNN Money: ‘We aren’t in Google any more’ http://bit.ly/bpvTd3

FT: Dimon attacks ‘demonisation’ of big banks: Jamie Dimon attacked the ‘demonisation’ of large banks by politicians, … http://bit.ly/d9UWT5

Douglas A. McIntyre

Filed under: Research Tagged: ABIO, F, GS, MOS, OSTK, PMI, POT, RIMM, Twitter

Neiman Marcus And Sears Crushed In New E-Commerce Survey

247wallst — Wed, 30 Dec 2009 09:56:17 +0000

Customer satisfaction with the e-commerce operations at Neiman Marcus and Sears (NASDAQ:SHLD) was particularly bad this shopping season based on research covering the 40 largest US retailers based on internet revenue. The poll results come from a survey of 10,000 respondents who visited the websites in November and December, according to research firm ForeSee.

The e-commerce satisfaction index ForeSee created has a maximum score of 100.

The results are especially troubling for Neiman Marcus which has posted 18 months of declining retail sales. It had a score in the ForeSee research of 73. Sears, which has struggled with a turnaround since buying K-Mart, had a relatively low score of 75.

Gas (NYSE:GPS), Overstock (NASDAQ:OSTK), Target (NYSE:TGT), Best Buy (NYSE:BBY), and SonyStyle (NYSE:SNE) posted numbers below the survey’s median number.

It would not surprise anyone that Amazon (NASDAQ:AMZN) finished first in the poll with at satisfaction rating of 87, or that Apple (NASDAQ:AAPL) and NetFlix (NASDAQ:NFLX) did well. The firm’s with the best reputations for taking care of customers seem to be keeping those reputations. The weak retailers, in the meantime, are not doing themselves any favors by fumbling their online operations.

Douglas A. McIntyre

Posted in Research, Retail Tagged: AAPL, AMZN, BBY, GPS, NFLX, OSTK, SHLD, SNE, TGT

Media Digest 7/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

247wallst — Thu, 02 Jul 2009 08:04:48 +0000

Reuters: California declared a financial emergency.

Reuters: An SEC attorney raised concern about a Madoff report in 2004.

Reuters: Auto parts supplier Lear filed for bankruptcy.

Reuters: NYC apartment sales are down more than 50%.

Reuters: Beijing Automotive will bid for Opel.

Reuters: GM told a judge asset sales was its only option.

Reuters: The Treasury will name 9 managers for its toxic asset plan.

Reuters: Investors are turning to stock picking after the big rally.

Reuters: Domestic cars sales were down again and Ford (F) picked up share.

Reuters: The rights offering for Rio Tinto (RTP) had a strong demand and Chinalco kept its percentage steady.

Reuters: Madoff customers have gotten $231 million so far.

WSJ: The appointment of the president of the NY Fed shows how little power regional directors have.

WSJ: Big pay packages are back on Wall St. and Goldman Sachs (GS) workers may get an average of $700k this year.

WSJ: Boeing (BA) is tightening its grip on 787 production.

WSJ: Housing and ISM data lifted stocks.

WSJ: Beazer (BZH) will pay up to $53 million in fines to settle mortgage fraud charges.

WSJ: GM will aim at an IPO next year.

WSJ: GM sales show the importance of China.

WSJ: A law cutting mobile phone fees in the EU took effect.

WSJ: Sirius (SIRI) raised the compensation of CEO Mel Karmazin.

WSJ: Inflation is unlikely because unemployment is so high.

WSJ: BP (BP) bid to build oil field in Iraq faces challenges.

WSJ: The price of the AIG (AIG) investment unit appears to be falling.

WSJ: NYSE (NYX) has cut trading times to five milliseconds.

WSJ: S&P’s (MHP) bond rating chief left.

WSJ: China’s massive loan expansion may become a problem.

WSJ: Roche cut the Tamiflu price for developing countries.

WSJ: Dow Chemical (DOW) will cut three plants.

WSJ: Overstock (OSTK) dropped affiliates in four states to protest taxes.

WSJ: The new president of News Corp (NWS) could earn $43 million in his first year.

NY Times: GM must complete the sales of its assets by July 10 or it could lose government financing.

NY Times: A cut in risk at Morgan Stanley (MS) may lead to a loss.

NY Times: Banks are increasing fees to offset losses.

NY Times: Anti-smoking drugs Chantix, made by Pfizer (PFE), and Zyban, made by GlaxoSmithKline (GSK), can could lead to suicide and mental illness in some cases.

NY Times: Facebook will offer new features to help users maintain privacy.

FT: Data are showing signs of a global recovery.

FT: SEC is urging rewarding whistle blowers.

FT: K-Mart (SHLD) will offer discounts to the unemployed.

FT: WPP’s CEO sees no signs of an economic recovery.

Bloomberg: The stimulus package is probably not improving hiring.

Douglas A. McIntyre

Posted in Autos, Banking, China, Compensation, Economy, Emerging Markets, FDA, Internet, Metals, Oil & Gas, Press Digest Tagged: AIG, BA, BP, BZH, DOW, F, GS, GSK, MHP, MS, NWS, NYX, OSTK, PFE, SHLD, SIRI, TRP