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The Dow Jones Industrial Average rose marginally today (Monday) after strong manufacturing data outshone concerns over geopolitical problems in Ukraine. It gained 17.66 points (0.11%) to finish at 16,530.55.
Here's your post-market report of today's major financial news.
Top Stories Moving the Dow Today
- Too Big to Jail: According to U.S. Attorney General Eric Holder, no banking institution is "Too Big to Jail." The U.S. Justice Department announced plans to pursue criminal charges and investigations against a number of banks and institutions in the coming weeks. The announcement comes in the wake of the Justice Department attempting to have BNP Paribas SA (OTCMKTS ADR: BNPQY) and Credit Suisse AG (NYSE ADR: CS) plead guilty for recent charges over U.S. sanctions and tax violations.
- Steinhafel Is Out: The massive data breach that hammered Target Corp. (NYSE: TGT) in December is just one reason why its Chief Executive Officer Gregg Steinhafel is no longer a part of the organization. In addition to the breach that allowed hackers to gain access to the sensitive information of 40 million customers, a number of other factors were at play. The company's fourth-quarter earnings slipped by 50%, its online sales platform has drastically underperformed, and it lost nearly $1 billion during its expansion into Canada. Chief Financial Officer John Mulligan plans to serve as interim president and CEO.
- The Rush Is On: Tech giant Google Inc. (Nasdaq: GOOG, GOOGL) announced plans to launch a same-day delivery service in Los Angeles and New York City called "Google Shopping Express." The service will allow customers to purchase products from companies like Walgreen Co. (NYSE: WAG), Costco Wholesale Corp. (Nasdaq: COST), and Target Corp. (NYSE: TGT). The company began testing the service last year in San Francisco after its competitors Amazon.com Inc. (Nasdaq: AMZN) and eBay (Nasdaq: EBAY) announced ventures into same-day delivery services.
- A Big Boom for Auto Dealers: There's another big IPO on the horizon. Car-pricing comparison site TrueCar Inc. could be valued at nearly $1 billion. TrueCar operates a network of 7,000 car dealerships and relies on advertising and dealer subscriptions to generate revenue. The company will trade on the Nasdaq Stock Exchange under the ticker "TRUE."
- Best Friends Forever: Over the weekend, Warren Buffett and Charles Munger shared concerns that activist investors were bad for America. In a rare form of solidarity, rivals Carl Icahn and Bill Ackman took to the public to express confidence about their roles in generating shareholder value. "I understand and somewhat agree with their criticisms that some activists are going for a short-term pop," said Icahn on May 3, defending his role. "That doesn't mean you throw the baby out with the bathwater. One of the most important things we need in this country is to keep companies accountable."
Monday's Top Three Profit Opportunities
- The Emerging Market Game Changer Is Here: Many observers thought the BRICS nations would encounter too many obstacles to collaborate effectively in creating an institution to take on the IMF. But after announcing such plans just over a year ago, the next BRICS summit in July is likely to see the official launch of these institutions. The implications are huge for investors...
- The "Holy Grail" of Energy Investing Is Going to Make You - and Your Grandchildren - Rich: Storage has long been one of energy's biggest "Holy Grails." It holds the key to every significant move into smart grids. So the basic question becomes how to "save" energy from being lost. That's what's at the center of a breakthrough project our Dr. Kent Moors discovered this week...
- Profit Like a Real Estate Mogul (Without Buying Property): Today we're going to combine the two concepts of real estate and inflation and employ a very simple formula we believe will add to your profits. The formula: Inflation + Real Estate = Cash in Your Pocket. And Bill Patalon recommends two stocks we expect will benefit from what we're seeing...
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.