Ultimate Market Recap: Penney’s Shoppers Switch to Macy’s, Global Commodities Looking Good

The Week Ahead: Ben Bernanke Talks Monetary Policy, Crucial Holiday Quarter Kicks Off!

Monday kicks off the start of the year’s final quarter. It comes on a busy week filled with economic data that will end with a snapshot of the current job market.

Fed Chief Ben Bernanke gets the week going with a monetary policy speech on Monday followed by the release of September FOMC meeting minutes on Thursday.

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On Wednesday, President Obama and Republican candidate Mitt Romney will participate in a debate. There could be some economical tidbits that market watchers will cling to and react on Thursday.

During the week, also look for corporate news from earnings reports.

News from abroad will include China’s September manufacturing activity numbers and possible reports from the European Central Bank’s possible progress on the area’s debt crisis. On Thursday, the ECB will have a policy meeting.

Take a look at the week ahead.

Economic Data

Monday: SM September manufacturing PMI and August construction spending

Tuesday: September vehicle sales

Wednesday: ADP September jobs survey and ISM September non-manufacturing PMI

Thursday: Weekly jobless claims and August factory orders

Friday: September nonfarm payrolls and August consumer credit

Earnings

Monday: Ferrellgas Partners (NYSE:FGP), Synergetics (NASDAQ:SURG)

Tuesday: Acuity Brands (NYSE:AYI), Mosaic Xyratex (NASDAQ:XRTX)

Wednesday: Monsanto (NYSE:MON), Wolverine (NYSE:WWW), Marriott International (NYSE:MAR), Family Dollar (NYSE:FDO)

Thursday: Saba Software (NASDAQ:SABA), Matrix Services (NASDAQ:MTRX), MSCI Inc. (NYSE:MSCI)

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A.M. Movers: Facebook and Apple Climb Higher, Oracle Pops 1.62%

Shares of Facebook (NASDAQ:FB) jumped 3.54 percent this morning. The company’s chief operating officer, Sheryl Sandberg, sat down with CNBC to discuss the company. She says Facebook is disappointed with what happened in the initial public offering, but “We’re taking that energy and really focusing on proving to the world that we can continue to grow our business, continue to grow our users and their engagement, and build a great company, not just for a quarter, but hopefully for decades and decades.”

Apple (NASDAQ:AAPL) shares edged higher this morning, despite more competition entering the tablet market. Barnes & Noble (NYSE:BKS) recently unveiled its own lighter and thinner high-definition tablets at half the price of Apple’s iPad, and with features and pricing similar to Amazon’s (NASDAQ:AMZN) Kindle Fire. The new tablets ship this month.

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DaVita (NYSE:DVA) shares climbed higher 0n Monday morning. According to a filing with the Securities Exchange Commission, Warren Buffett’s Berkshire Hathaway (NYSE:BRKA) owns more than 10 percent of the dialysis clinic operator.

Shares of Oracle (NASDAQ:ORCL) gained more than 1 percent on Monday. Reuters reports, “Phone maker Nokia Oyj said on Monday it has signed a deal that will give Oracle Corp’s customers access to its mapping services. It said Oracle customers can now combine Nokia maps with Oracle applications.”

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Raytheon Partners With Twisted Pair Solutions and 4 Hot Stocks Trading Today

Facebook, Inc. (NASDAQ:FB) was forced to face General Motors’ declaration that it would pull all paid advertising on the social network, causing Facebook to contest that big-brand marketers should ignore their obsession with the amount of clicks on ads and focus on more effective advertising techniques. Less than 1 percent of in-store sales related to Facebook advertisement come from people who actually clicked on an ad, according to the results of a new study conducted by Facebook via its partnership with Datalogix, which is a data mining firm following real world retail sales.

AT&T, Inc. (NYSE:T): FreedomPop, which is a start-up backed by a founder of Skype, intends to use today as the date for its launch of a wireless data service expecting to save customers hundreds of dollars a year, as cellphone bills continues to increase, according to the Wall Street Journal. The new service gives users half a gigabyte of high-speed wireless data per month free along with selling more at more inexpensive rates than larger carriers like AT&T: one gigabyte for $10 a month and five gigabytes for $35 a month.

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Nokia Corporation (NYSE:NOK) has announced that Oracle (NASDAQ:ORCL) has successfully developed a built-in link between Oracle Fusion Middleware MapViewer and its Nokia Location Platform. The company states that the link “removes the barrier of a customized map integration and extends the benefits of global maps for business use to Oracle users.”  NLP provides maps for nearly 200 countries. Oracle users will be able to license NLP from Nokia to use in Oracle applications.

Raytheon Co. (NYSE:RTN) partnered with Twisted Pair Solutions, which provides critical communication applications, to assist first responders in communication via various hand-held devices. Police, fire, and emergency rescue workers will be given the ability to communicate with each other with any device used.

International Paper (NYSE:IP) announced today that it restarted converting operations successfully at its San Felice plant in Northern Italy. Corrugating activities already restarted in July. “The first box entirely produced at San Felice following the recent earthquakes left from the plant’s shipping department on September 17 and I am delighted that operations will be fully restored at San Felice very soon,” said Paolo Pratella, Managing Director of International Paper’s corrugated packaging business in Italy.
To guarantee supply to customers will not be interupted, converting activities are to slowly be relocated back to San Felice over a few  weeks. International Paper intends to to keep relying on its other production sites in Italy and Europe for the satisfaction of customer needs until San Felice reaches its total capacity.

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Macy’s Benefits from Rival’s Overhaul and 4 Hot Stocks Sparking Chatter

Macy’s, Inc. (NYSE:M):  According to the Wall Street Journal, many are benefiting from J.C. Penney’s (NYSE:JCP) store overhaul and not just the shareholders. The plan has boosted suppliers that have been hired to refurbish Penney’s stores and update their technology. Other beneficiaries include some of the company’s rivals such as Macy’s, Inc. as customers, frustrated with changes at the retailer find new places to shop. Since the new Chief Executive Officer Ron Johnson announced this plan in January, shareholders continue to suffer because Penney’s shares are down about 40% .

New Oriental Education & Technology Group (NYSE:EDU):  New Oriental Education & Technology Group announced that the Special Committee of the Board of Directors have completed their review of certain allegations raised in a report issued by Muddy Waters on July 18. No significant evidence to support these allegation‪s has been found.

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Celsion Corp. (NASDAQ:CLSN):  Celsion Corporation announced the presentation of Phase I results from the company’s Phase I/II DIGNITY study of ThermoDox in Breast Cancer Recurrences at the Chest Wall during the ESMO 2012 Congress, the annual conference for the European Society of Medical Oncology held in Vienna, Austria September 28 to October 2, 2012. The presentation, titled “Breast Cancer Recurrences at the Chest Wall When Standard Treatments Have Failed: Lyso-thermosensitive liposomal doxorubicin + Mild Local Hyperthermia,” was delivered by Professor Hope S. Rugo, MD, from the University of California San Francisco School of Medicine and provided a clinical update of the Phase I/II DIGNITY trial studying ThermoDox for breast cancer.

Bank of America (NYSE:BAC):  Shapiro Haber & Urmy LLP. announced that on September 21, the United States Court of Appeals for the First Circuit issued a decision upholding claims by borrowers in a class action lawsuit against Bank of America. The lawsuit alleged that the bank breached their mortgage contracts and acted in bad faith by forcing borrowers to maintain excessive amounts of flood insurance. In that decision in Kolbe v. BAC Home Loans Servicing, LP, the Court upheld claims that Bank of America breached the terms of Federal Housing Administration mortgages and violated U.S. Housing and Urban Development guidelines by requiring borrowers to carry flood insurance in excess of the amount they owed on their loans. The Court found strong support for these claims in the mortgage contract, and noted that the mission of the FHA loan program is to make home ownership affordable.The Court of Appeals, in a second case, captioned Lass v. Bank of America, N.A., also upheld similar claims that Bank of America demanded more flood insurance than required by federal law or the mortgage agreement.

Apple Inc. (NASDAQ:AAPL):  According to the Wall Street Journal, Apple Inc. may be looking at opening their own outlets in India.  They have had to sell their products through local, regional and national distributors and pay a fee to each. A rule change last year allowed foreign companies to own 100% in such stores, previously they would have been allowed to own only a 51% in a store that was selling their own branded goods. However, under the new rules, foreign retailers have to source at least 30% of the value of their sales from local firms, this may be a difficult order for Apple to fill.

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Goldman Sachs Upbeat About Commodities and 4 Hot Stocks Buzzing on The Street

International Business Machines Corp. (NYSE:IBM)has teamed with ESB for the begin the use of a fully integrated smarter charging IT system assisting in the management of electric vehicle public charge-points, currently being introduced across Ireland by ESB Networks. As a team, the two companies will make the process more convenient by allowing EV drivers to access, charge, and pay using an identification card. The project will also give utilities to access energy usage data possibly helping to improve smart grid operations, lower power strain during peak charging times, and ensure reliable energy distribution to customers.

The Goldman Sachs Group, Inc. (NYSE:GS) analyst Jeffrey Currie gave an upbeat report regarding the global commodities market, and the positive outlook regarding commodity prices spanning the next 12 months will probably cause the investment bank to raise its focus on commodities trading in the near future.

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Synta Pharmaceuticals Corp. (NASDAQ:SNTA) announced the results from an interim analysis of the Phase 2b portion of the GALAXY trial, which is a global, randomized, multi-center Phase 2b/3 study that is intended for the evaluation of the effectiveness and safety of the company’s top Hsp90 inhibitor, ganetespib, to be used as a second-line treatment for advanced non-small cell lung cancer. The results indicated good tolerability concerning the combination of ganetespib and docetaxel, and meaningful improvements regarding total survival in adenocarcinoma patients who were treated with docetaxel plus ganetespib versus those receiving docetaxel alone. The GALAXY trial is based on a two-stage, operationally adaptive design. The first-stage, randomized, open-label, 240-patient Phase 2b portion of the trial is in the process of enrolling Stage IIIB/IV NSCLC patients who were able to progress after one former line of therapy, and it is intended to identify the patient population, which are defined by biomarker or other disease characteristic, to further the Phase 3 portion of the trial.

Microsoft Corporation (NASDAQ:MSFT): On Friday, the 9th U.S. Circuit Court of Appeals in San Francisco ruled that Google’s (NASDAQ:GOOG) Motorola Mobility unit will not be able to enforce a patent injunction obtained against Microsoft in Germany. This will likely harm Google’s leverage in the smartphone patent battle, according to Reuters.

Tenet Healthcare Corp.’s (NYSE:THC) new plan includes near-term acquisitions, which will probably reach $400 million, for the enhancement of the company’s primary business lines, like acute care hospitals, outpatient facilities, and business process services. The company has also been authorized for a new $500 million to repurchase common stock in open market transactions. The time and amount of repurchase transactions is to be based on an evaluation of market conditions and share price, along with other factors. Proceeds will be used to minimize the outstanding balance on the Tenet’s bank line, fund near-term acquisitions, retire $216 million of 7.375 percent debt which will mature in February 2013, along with additional general corporate purposes. There will also be a reverse stock split issuing one new THC share in exchange for every four existing shares, effective October 11, 2012.

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