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China to close market this week to honor WW II
CNN shakes up GOP debate criteria
Pope puts abortion forgiveness on the table
Survey may confirm our worst gender fears
GE names first female vice chair
Amgen finds data falsified in diabetes study

NYSE invokes Rule 48 before market open

McDonald’s set to offer all-day breakfast


 
Uber drivers lawsuit  endangers much more than Uber
Uber driver suit can proceed as class-action

Never use a market order when stocks are selling off

Texas edges out North Dakota in this oil list

Where every Fed member stands on raising rates

Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

New on the shelves of your local Apple Store: drones

Annie Leibovitz is working on UBS’s image

How LVMH poached Apple digital exec Ian Rogers

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
Apple talks to Hollywood for exclusive content
Apple, Cisco team to put business users on iOS
Apple will let iPhone and iPad users block ads
Lost Apple deal leads to 40% job cut at GT

Yahoo CEO Marissa Mayer
Yahoo CEO Marissa Mayer pregnant with twins

Canada’s economy enters recession — arguably

Construction laborers work on the top floor of a high rise apartment building in New York.
Building is emerging as strongest sector of economy
U.S. manufacturing growth at 2-year low: ISM

How China turned minor yuan issue into global rout
Chinese factory data pull Asian shares lower
Beijing bumbling is China’s biggest problem

These are the cars that get the most Instagram attention

Best time to buy a new car may be just around the corner
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA

Trump says Mount McKinley name change ‘insult to Ohio’
Trump: Switch to Denali is ‘insult to Ohio’
Mount McKinley in Alaska is renamed Denali
Which U.S. president has the tallest mountain?

Classified details blacked out in new Clinton emails
Classified details blacked out in new emails
Clinton says she supports ‘revolving door’ bill
Biden a tougher matchup than Clinton: poll

Unlucky lottery winner gets IOU from Illinois

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Markets »

171.39MDow Volume:
Avg Vol: 111.86M
Unchanged
163
Decliners
5264
Advancers
1172
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,058 -470 2.84%
Nasdaq
/quotes/zigman/12633936/realtime 4,636 -140 2.94%
S&P 500
/quotes/zigman/3870025/realtime 1,914 -58 2.96%
GlobalDow
/quotes/zigman/629063/realtime 2,291 -4 0.19%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.18%
Oil
/quotes/zigman/2331095/delayed 44.24 -1.17 2.58%
FTSE 100
/quotes/zigman/3173262/delayed 6,059 -189 3.03%
DAX
/quotes/zigman/2380246/delayed 10,016 -244 2.38%
CAC 40
/quotes/zigman/3173214/delayed 4,541 -112 2.40%
FTSE MIB
/quotes/zigman/1482176/delayed 21,451 -491 2.24%
IBEX 35
/quotes/zigman/2759620/delayed 9,993 -266 2.59%
Stoxx 600
/quotes/zigman/2380150/delayed 353 -10 2.73%
Asia Dow
/quotes/zigman/6959860/realtime 2,689 -29 1.06%
Nikkei 225
/quotes/zigman/5986735/delayed 18,282 +117 0.64%
Hang Seng
/quotes/zigman/2622475/delayed 20,975 -210 0.99%
Shanghai
/quotes/zigman/1859015/delayed 3,086 -81 2.55%
Sensex
/quotes/zigman/1652085/delayed 25,696 -587 2.23%
Singapore
/quotes/zigman/1709939/delayed 2,893 +10 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.36%
Yen
/quotes/zigman/16008150/realtime/sampled 120.09 +0.72 0.60%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 +0.00 0.02%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.20%
DXY Index
/quotes/zigman/1652083/delayed 95.66 +0.28 0.29%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.42 +0.25 0.29%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.15 -0.01 0.33%
German 10y
/quotes/zigman/15866409/realtime 0.80 +0.06 8.79%
Italy 10yr
/quotes/zigman/15866497/realtime 2.00 +0.08 4.05%
Spain 10yr
/quotes/zigman/15866444/realtime 2.14 +0.08 3.76%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 -0.02 1.25%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.04 10.26%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 2.58%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.18%
Corn
/quotes/zigman/7599553/delayed 370 +1 0.27%
DJIA F
/quotes/zigman/38649152/delayed 16,197 +110 0.68%
S&P F
/quotes/zigman/30356461/delayed 1,929 +13 0.67%
Silver
/quotes/zigman/3134148/delayed 15 0 0.41%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -2.20 -2.46%
AAPL /quotes/zigman/68270/composite 107.72 -5.04 -4.47%
GOOG /quotes/zigman/30194416/composite 597.79 -20.46 -3.31%
BAC /quotes/zigman/190927/composite 15.58 -0.76 -4.65%
C /quotes/zigman/5065548/composite 50.94 -2.54 -4.75%
F /quotes/zigman/264304/composite 13.72 -0.15 -1.08%
T /quotes/zigman/398198/composite 32.32 -0.88 -2.65%
BP /quotes/zigman/247026/composite 32.14 -1.40 -4.17%
GE /quotes/zigman/227468/composite 23.88 -0.94 -3.79%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Kodak: When Blue Chips Go Bust

Eastman Kodak Co.’s once bright colors have been fading for years, but the news that the storied company is headed for bankruptcy is a reminder, market observers say, that no company stays on top forever — especially these days.

Getty Images

Before its recent struggles to keep up with a changing market, Kodak (EK) was a blue chip stock. The company was part of the Dow Jones Industrial Average from 1930 to 2004, when it, AT&T Corp. (T), and International Paper Co. (IP) were replaced by Verizon Communications (VZ), Pfizer (PFE), and American International Group (which itself was swapped out for Kraft after receiving a government bailout in 2008). Theoretically, corporations can live forever, but in practice, they don’t, says Richard Sylla, a professor of financial history at New York University’s Stern School of Business. “This shows even the most famous and iconic companies can fail if they don’t adjust to change,” Sylla says.

Historically, it’s most common to see financial firms go bust, Sylla says. “Even an ordinary bank is levered 8 or 10 to 1,” he says. Manufacturing or industrial firms, on the other hand, tend to borrow less money and have more tangible assets, so they’re less likely to implode, he says. But a case like Kodak’s can serve to remind investors that competition and technological change continually reshape all industries, Sylla says. “Things like Apple and phones with digital cameras, they creatively destroyed Kodak,” he says. “What’s the greatest company in one era is unlikely to be the greatest a half a century later.”

In fact, research has shown that industry leaders tend to underperform their competitors. As SmartMoney has previously reported, research by Robert Arnott, a money manager, found that stocks that are sector leaders in one year will lag their peers by an average of about 3% a year in the next 10 years. The better bet for investors is a company that’s improving its competitive position, not the one that’s already on top.

Particularly in today’s volatile markets, investors can’t simply buy a company that seems solid and plan to hold it forever, says Tommy Williams, the president of Williams Financial Advisors. “You can’t just do the old buy and hold and hope,” Williams says. “You’ve got to be much more proactive,” he says.

Williams Financial Advisors now holds stocks for an average of only about seven or eight months, meaning they turn over positions much more often than they used to, Williams says. His firm reviews its portfolios every week and looks to sell stocks when they no longer meet the criteria that made them a buy in the first place. Reviewing positions can be labor-intensive for an individual investor, but “having a sell discipline is really the key,” Williams says. “Be ready to sell things that at one time you were in love with,” he says.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (4 of 4)

View all Comments »
    • kodak……………. my co-worker’s mother-in-law made $245373 so far just working on the internet for a few hours. Read more on this web site…m a k e c a s h 4 . com

    • kodak……………. my best friend’s aunt makes $70 an hour on the internet. She has been without work for 7 months but last month her pay was $8238 just working on the internet for a few hours. Read more on this web site… m a k e c a s h 4 . com

    • Kodak is a great example of an American company that was great at inventing and lousy on commercializing new ideas. Others are Ampex (invented the VCR, was only interested in high-end broadcast and military, totally blew their opportunity in the consumer market) Xerox (invented the PC amomg other things at Xerox PARC) Kodak, like GM also got in the business of being a private social welfare organization that incidentally made stuff, and was saddled with huge costs of paying defined benefits to people that no longer worked for them. This is going to be one of the most painful (for retirees) parts of the Kodak implosion.

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

Tokyo Markets Close in:

need to know
China to close market this week to honor WW II
CNN shakes up GOP debate criteria
Pope puts abortion forgiveness on the table
Survey may confirm our worst gender fears
GE names first female vice chair
Amgen finds data falsified in diabetes study

NYSE invokes Rule 48 before market open

McDonald’s set to offer all-day breakfast


 
Uber drivers lawsuit  endangers much more than Uber
Uber driver suit can proceed as class-action

Never use a market order when stocks are selling off

Texas edges out North Dakota in this oil list

Where every Fed member stands on raising rates

Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

New on the shelves of your local Apple Store: drones

Annie Leibovitz is working on UBS’s image

How LVMH poached Apple digital exec Ian Rogers

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
Apple talks to Hollywood for exclusive content
Apple, Cisco team to put business users on iOS
Apple will let iPhone and iPad users block ads
Lost Apple deal leads to 40% job cut at GT

Yahoo CEO Marissa Mayer
Yahoo CEO Marissa Mayer pregnant with twins

Canada’s economy enters recession — arguably

Construction laborers work on the top floor of a high rise apartment building in New York.
Building is emerging as strongest sector of economy
U.S. manufacturing growth at 2-year low: ISM

How China turned minor yuan issue into global rout
Chinese factory data pull Asian shares lower
Beijing bumbling is China’s biggest problem

These are the cars that get the most Instagram attention

Best time to buy a new car may be just around the corner
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA

Trump says Mount McKinley name change ‘insult to Ohio’
Trump: Switch to Denali is ‘insult to Ohio’
Mount McKinley in Alaska is renamed Denali
Which U.S. president has the tallest mountain?

Classified details blacked out in new Clinton emails
Classified details blacked out in new emails
Clinton says she supports ‘revolving door’ bill
Biden a tougher matchup than Clinton: poll

Unlucky lottery winner gets IOU from Illinois

/conga/frontpage.html 353884

Markets »

171.39MDow Volume:
Avg Vol: 111.86M
Unchanged
163
Decliners
5264
Advancers
1172
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,058 -470 2.84%
Nasdaq
/quotes/zigman/12633936/realtime 4,636 -140 2.94%
S&P 500
/quotes/zigman/3870025/realtime 1,914 -58 2.96%
GlobalDow
/quotes/zigman/629063/realtime 2,291 -5 0.20%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.18%
Oil
/quotes/zigman/2331095/delayed 44.25 -1.16 2.55%
FTSE 100
/quotes/zigman/3173262/delayed 6,059 -189 3.03%
DAX
/quotes/zigman/2380246/delayed 10,016 -244 2.38%
CAC 40
/quotes/zigman/3173214/delayed 4,541 -112 2.40%
FTSE MIB
/quotes/zigman/1482176/delayed 21,451 -491 2.24%
IBEX 35
/quotes/zigman/2759620/delayed 9,993 -266 2.59%
Stoxx 600
/quotes/zigman/2380150/delayed 353 -10 2.73%
Asia Dow
/quotes/zigman/6959860/realtime 2,689 -29 1.06%
Nikkei 225
/quotes/zigman/5986735/delayed 18,283 +118 0.65%
Hang Seng
/quotes/zigman/2622475/delayed 20,977 -208 0.98%
Shanghai
/quotes/zigman/1859015/delayed 3,086 -81 2.55%
Sensex
/quotes/zigman/1652085/delayed 25,696 -587 2.23%
Singapore
/quotes/zigman/1709939/delayed 2,893 +10 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.35%
Yen
/quotes/zigman/16008150/realtime/sampled 120.09 +0.71 0.60%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 +0.00 0.02%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.21%
DXY Index
/quotes/zigman/1652083/delayed 95.65 +0.28 0.29%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.42 +0.25 0.28%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.15 0.00 0.20%
German 10y
/quotes/zigman/15866409/realtime 0.80 +0.06 8.79%
Italy 10yr
/quotes/zigman/15866497/realtime 2.00 +0.08 4.05%
Spain 10yr
/quotes/zigman/15866444/realtime 2.14 +0.08 3.76%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 -0.02 1.25%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.04 10.26%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 2.55%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.18%
Corn
/quotes/zigman/7599553/delayed 370 +1 0.27%
DJIA F
/quotes/zigman/38649152/delayed 16,196 +109 0.68%
S&P F
/quotes/zigman/30356461/delayed 1,929 +13 0.67%
Silver
/quotes/zigman/3134148/delayed 15 0 0.41%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -2.20 -2.46%
AAPL /quotes/zigman/68270/composite 107.72 -5.04 -4.47%
GOOG /quotes/zigman/30194416/composite 597.79 -20.46 -3.31%
BAC /quotes/zigman/190927/composite 15.58 -0.76 -4.65%
C /quotes/zigman/5065548/composite 50.94 -2.54 -4.75%
F /quotes/zigman/264304/composite 13.72 -0.15 -1.08%
T /quotes/zigman/398198/composite 32.32 -0.88 -2.65%
BP /quotes/zigman/247026/composite 32.14 -1.40 -4.17%
GE /quotes/zigman/227468/composite 23.88 -0.94 -3.79%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/12221594/composite AMBA-6.30%
  • /quotes/zigman/87598/composite NFLX-8.03%
  • /quotes/zigman/4534424/composite QIHU-6.26%
  • /quotes/zigman/8669138/composite DWTI+19.53%
  • /quotes/zigman/15952148/composite OVAS-10.65%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
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