AOL, Yahoo! and Google rule comScore

Filed under: Analyst reports, Google (GOOG), Microsoft (MSFT), Yahoo! (YHOO), Time Warner (TWX)

comScore has released its TOP 50 Web rankings for October 2007, and Time Warner Inc. (NYSE: TWX) still has an impressive place there.

This gives the following breakdown for total unique visitors out of an estimated 182,206,000 users in the United States:

Yahoo Inc. (NASDAQ: YHOO): 136,775,000
Google Inc. (NASDAQ: GOOG): 131,639,000
Time Warner Network: 121,130,000
Microsoft Corporation (NASDAQ: MSFT) Network: 120,502,000

But there is one phenomenal property here: AOL's Advertising.com platform showed an entire reach of 159,204,000. That is roughly an 87% reach of the estimated 182+ million users in the U.S. measured by comScore.

The thing to watch is that ALL ratings and measurement companies give different data. comScore's data is based on a global cross-section of more than 2 million consumers who have given comScore permission to confidentially capture their browsing and transaction behavior. That means there can always be some slippage and mis-measurements, but this still gives a decent ballpark figure of web usage and web reach.

If you look at the data, this also bodes well for Jim Cramer & Co. over at TheStreet.com, Inc. (NASDAQ: TSCM). The financial web site owner showed a 125% gain in unique visitors with a 125% gain to more than 8.9 million unique visitors.

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Investing in Colorado: Vail Resorts (MTN), Dynamic Materials (BOOM), Newmont Mining (NEM)

Filed under: Newmont Mining (NEM), Commodities, Stocks to Buy

Where can you find the "Wall Street of the West?" In Colorado, of course -- specifically, Denver's 17th Street financial district.

Colorado's economy has come a long way from its foundation on trapping and mining. Denver's location, equidistant between Los Angeles and Chicago, between Seattle and New Orleans, has helped the Centennial State become the economic center of Rocky Mountain states -- even Denver's time zone and elevation help it keep in touch with the rest of the world. It's no wonder there's a large federal government presence in the state (U.S. Air Force Academy, NORAD, NOAA, Denver Mint, U.S. Geological Survey).

Companies such as Lockheed-Martin (NYSE: LMT), Qwest Communications (NYSE: Q), Comcast (NASDAQ: CMCSA), Molson Coors (NYSE: TAP), and Crocs (NASDAQ: CROX) offer a sense of the diversity of the state's economy. And so do the three companies examined here: Vail Resorts Inc. (NYSE: MTN), Dynamic Materials Corp. (NASDAQ: BOOM), and Newmont Mining Corp. (NYSE: NEM).

Continue reading Investing in Colorado: Vail Resorts (MTN), Dynamic Materials (BOOM), Newmont Mining (NEM)

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Radiohead managed self-released album as an "online leak"

Filed under: Rumors, Press releases, Products and services, Marketing and advertising

For the last month and a half, the buzz on the music industry has revolved around the monumental move by English band Radiohead to self-release a digital version of its seventh album and allow fans to set their own price. It seems Radiohead never had any intention of revolutionizing the music industry; instead the band was attempting to curb a trend of online leaking before an official release, according to an interview transcribed by newspaper NME.

Singer Thom Yorke explains, "every record that we've done for ages has been leaked. Why not leak the bloody thing yourself?" Yorke is referring the the band's previous three albums, which were leaked in the weeks prior to their releases. For the band's 2000 album Kid A, the leak managed to propel the album to #1 in the Billboard 200. Not a bad thing at all really, but it does take the control away from the band.

The front man also revealed that he paid nothing for In Rainbows (it would basically have been like "moving money from one pocket to another"), seeming to acknowledge the rumors that the release was nothing more than a publicity stunt for the pending CD release later this year. In the end, Yorke also admits that the digital move also "came from the band's management who didn't want to release an album while out of contract."

No matter these revelations, the album and its initial release should still be viewed for the changes that will be wrought in the music industry. Radiohead should refrain from being so modest.

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Blue Coat Systems seeing green

Filed under: Internet, Technology

Blue Coat Systems, Inc. (Nasdaq: BCSI), the Web appliance company "working to make the Web safe for business", posted stellar earnings today beating the Street's estimates by $.06 and raised guidance for it's third quarter.

BloggingStock's Georges Yared had a good write-up in August on the company's wide-area-network (WAN) optimization product. Yared has had a good call on this one and indeed, it's the company that keeps on giving with continued stock growth (it's up 200% so far for 2007). Yared has named Blue Coat to his list of "Top 25 Stocks for the Next 25 Years".

In a research piece issued last week, ThinkEquity analysts said that recent checks with US-based retailers suggest sustained growth in Blue Coat's WAN optimization and Web-security appliance in the US and increased sales momentum overseas. "We believe the WAN optimization growth secular trend continues to be strong and Blue Coat's differentiated unified offering continues to drive demand for Blue Coat in the U.S. and increase momentum overseas," said Jonathan Ruykhaver, a ThinkEquity analyst.

Boy, were they right. Net revenue for the second fiscal quarter of 2008 was $73.4 million, an increase of 85% compared to net revenue of $39.7 million for the same quarter last year and an 18% increase compared to net revenue of $62.4 million in the prior quarter.

Things are certainly humming for Blue Coat.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. Author holds no positions in the stocks mentioned above.

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CEO Interview: Near-time brings Web 2.0 to Corporate America

Filed under: Google (GOOG), Small business

In the consumer world, we are seeing a revolution in social technologies: blogs, wikis, video sharing, and so on. And some of the top properties, such as Facebook, YouTube, and MySpace, are becoming mega brands.

But there is another emerging trend: social media is making its way into the Corporate world.

I recently had a chance to talk to Reid Conrad, who is the cofounder and CEO of Near-Time. His company has a Web 2.0 platform geared mostly for corporate customers.

What are you hearing from business customers regarding Web 2.0? Is it becoming more of a priority? If so, why?

We are seeing businesses increasingly view Web 2.0 as their standard. They are quickly realizing the advantage of Web 2.0 capabilities over traditional, proprietary applications. I think the key to this has been the realization by businesses that they can deploy consumer platforms with unprecedented reach and flexibility.

Continue reading CEO Interview: Near-time brings Web 2.0 to Corporate America

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Persian Gulf oil wealth: $44 trillion, and rising

Filed under: International markets, Other issues, Deals, Middle East, Commodities, Oil

Most investors and readers are aware of the subprime mortgage-driven credit market slump. Lending to potential customers has declined substantially, from typical homebuyers to large corporations.

To be sure, the credit markets are not frozen, as they appeared to be during the August 2007 credit crunch and accompanying equity market sell-off, but lending requirements are much more rigorous today, following large subprime investment losses.

Speculative deals -- be it a large debt offering backed by mortgages, or a mortgage for a condominium project -- are not being approved. Two years or so ago, flush with cash and eager to take advantage of the yield spread, these type of deals undoubtedly would have received multiple funding offers from banks, mortgage companies, and other investment firms.

Continue reading Persian Gulf oil wealth: $44 trillion, and rising

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Option update 11-20-07: AMBAC Financial and MBIA volatility elevated on mortgage credit concerns

Filed under: Options

AMBAC Financial Group, Inc. (NYSE: ABK) recently down $2.45 to $23.05 on concerns FRE's credit losses could affect bonds backed by ABK:

ABK December option implied volatility of 116 was above its 26-week average of 55 according to Track Data, suggesting larger risk.

MBIA Inc. (NYSE: MBI) recently down $2.17 to $32.25 on concerns FRE's credit losses could affect bonds backed by MBI:

MBI December option implied volatility of 118 was above its 26-week average of 53 according to Track Data, suggesting larger price fluctuations.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

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Democratic-led Congress seen hiking mpg standards

Filed under: Consumer experience, Ford Motor (F), General Motors (GM), Politics, Oil

With the U.S. Federal Appeals Court of San Francisco's ruling that threw out proposed fuel economy standards, look for a renewed effort by the current U.S. Congress to pass new, tougher standards, possibly by year's end, a source familiar with various lobbying groups told Bloggingstocks.

Based in Washington and familiar with Democratic Party and energy-issue constituencies, the source told Bloggingstocks that some legislation, albeit minor, was now likely.

"Don't expect miracles, but the public sentiment and Congressional support appears to be there for a modest increase in CAFE [Corporate Average Fuel Economy] standard," he said, speaking on condition that he not be identified by name. He added that to-date the Bush Administration has resisted raising the CAFE; if the administration does so again, it's unclear whether Congress would have the votes to override the veto.

Continue reading Democratic-led Congress seen hiking mpg standards

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Using Wikipedia as a source for a business book?

Filed under: Scandals, Books

So this is pretty scary. Business writer George Orwel has come under fire for lifting, almost word for word, five paragraphs out of a Wikipedia entry for his book Black Gold: The New Frontier for Oil investors, published by Wiley.

According to The New York Times, "Copying from Wikipedia, the online encyclopedia produced by tens of thousands of contributors, does not raise the same legal complications as copying from a copyrighted book. According to Mike Godwin, the lead lawyer at the Wikimedia Foundation, under Wikipedia's license anyone can reprint material found there as long as Wikipedia is given credit and the license itself is reprinted, assuring that the material continues to roam free."

But that isn't even the point -- high schools across the country warn students to never, ever, ever, use Wikipedia as a source for a scholarly paper because, and this is important, anyone can edit it. If I wanted to, I could log on to Wikipedia right now and edit the entry for "Wall Street Journal" to say that, next to BloggingStocks, it's the most respected name in business journalism. And it would remain there, until someone else edited it.

I haven't read Mr. Orwel's book and, given Wiley's stellar reputation, it's probably quite good. But the use of Wikipedia as a source, to say nothing of copying text from the site, raises concerns about the quality of the research.

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Best Buy completes Black Friday rehearsal

Filed under: Consumer experience, Best Buy (BBY), Black Friday

Best Buy, Inc. (NYSE: BBY) will be rocking and rolling this coming Friday, as millions of bargain-seeking shoppers hit the early morning streets of American to seize on those Black Friday prices everywhere.

It's almost like a TV sitcom, mind-numbingly predictable: retailers open up early, shoppers get up early, TV news crews film them, everyone shops 'til they drop then go home for turkey sandwiches while retailers count up the numbers and hope for the best. Every year the same plot.

Well, the largest consumer electronics retailer in the U.S. has already rehearsed for this coming Friday, as it engaged recently in tests to ensure the surge of traffic this Friday doesn't clog store openings, checkout lines or shopping aisles. Best Buy, in other words, is preparing some preventive maintenance in anticipation for the chaotic rush at the end of this week.

Continue reading Best Buy completes Black Friday rehearsal

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Option update: Target volatility stays elevated

Filed under: Target Corp. (TGT), Options

Target (NYSE: TGT) reported Q3 net earnings of $483 million. TGT is down .92 to $52.98. TGT says: "Our third quarter earnings were disappointing due to soft sales in our higher margin categories, leading to lower-than-expected gross margin in our core retail operations." TGT call option volume of 30,415 contracts compares to put volume of 18,212 contracts. TGT December option implied volatility of 47 is above its 26-week average of 35 according to Track Data, suggesting larger risk.

Cree (NYSE: CREE), a manufacture of semiconductors for solid state lighting, is recently down 59c to $21.26. CREE has been frequently mentioned as a buyout target over the last five months. CREE December call option implied volatility is at 57; puts are at 73; above its 26-week average of 48 according to Track Data, suggesting larger price fluctuations. CREE puts are priced higher than calls because CREE is difficult to borrow.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

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Exxon Mobil (XOM) signs Libyan offshore deal

Filed under: International markets, Deals, Exxon Mobil (XOM), Oil

The world's largest oil company, Exxon Mobil Corp. (NYSE: XOM) announced today that it has signed a 5 year agreement with the national oil company of Libya to explore its offshore potential.

Exxon Mobil stated that this agreement provides the company with exploration rights to "one of the most prospective unlicensed areas" located in the Libyan offshore area. The offshore exploration will take place approximately 110 miles off the Libyan coast, and the area is roughly 2.5 million acres. The water depth of the location ranges between 5,400 feet to more than 8,700 feet below sea level.

The Wall Street Journal (subscription required) reported that under the terms of the deal, Exxon Mobil will drill at least one well in the area, as well as pay a bonus to the Libyan government. Terms of the bonus were not disclosed.

Last year Libya ranked 8th in production among OPEC nations, and was removed from the U.S. list of countries that sponsored terrorism less than two years ago.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer. DISCLOSURE: Mr. Fowlkes owns and/or controls diversified portfolios of long and short stock and option positions that include holdings in XOM.

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Sony, Microsoft will benefit from Wii shortage

Filed under: Consumer experience, Microsoft (MSFT), Sony Corp ADR (SNE), Technology

If you still hope to put a Nintendo (OTC: NTDOY) Wii under the tree this year, you best stop reading right now and run out to the mall. Supplies of the breakout gaming console are reportedly slim already, and should virtually disappear on Black Friday.

Bad news for you procrastinating shoppers, but good news for Sony (NYSE: SNE) and Microsoft (NASDAQ: MSFT). Though sales of Microsoft's Xbox have spiked in recent months -- directly attributed to the debut of the Xbox-exclusive Halo 3 game -- sales of Sony's PlayStation 3 were outpaced by Wii last month by more than four-to-one. Expect that to change through year's end as overflow demand for the scant remaining Wiis rings up sales of the PlayStation 3 and Xbox 360 consoles, with parents refusing to retreat home empty-handed.

Of course, the real winners in this are the early bird eBay (NASDAQ: EBAY) merchants, salivating at the prime seller's bonanza about to unfold. eBay currently lists several lots of multiple Wiis -- perhaps you can get your Grinch on, buy a bunch of 'em up and flip them through the shopping season. I'm just saying.

Then again, you could always get your kid tennis lessons, maybe a Louisville Slugger. No kid's going pro in Wii-sports anytime soon.

Shares of Microsoft were up 2% in early afternoon trading Tuesday, while Sony shares sat 1.37% higher.

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October interest rate cut was 'close call'; Fed sees growth slowing

Filed under: Countrywide Financial (CFC), Economic data, Housing, Federal Reserve

The Federal Reserve's October interest rate cut, which was cheered by investors, was a "close call," according to the minutes of the Federal Open Market Committee's Oct. 30-31 meeting.

"However, on balance, nearly all members supported a 25 basis point reduction in the target federal funds rate," the minutes say. "Moreover, most members saw substantial downside risks to the economic outlook and judged that a rate reduction at this meeting would provide valuable additional insurance against an unexpectedly severe weakening in economic activity ...the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction."

Projections for real GDP growth next year was revised to 1.8% to 2.5%, below 2.5% to 2.75% expected in June.
The data heightened investors' worries about the housing market and the overall economy. The minutes underscore worries about the economy. The Dow Jones industrial average fell more than 85 points to 12,873.01, while the Nasdaq Composite Index dropped 35.20 to 2,558.18. Of course, Freddie Mac (NYSE: FRE) posting a loss that was three times greater than expected and rumors of Countrywide Financial (NYSE: CFC) filing for bankruptcy -- which the company denied -- didn't help.

Bulls seem to be shrugging off the Fed commentary. "We can be pretty sure that if the outlook continues to deteriorate and markets remained distressed, they'll be easing again soon enough," Ian Shepherdson, chief U.S. economist at High Frequency Economics, told Bloomberg News.

Really?

I wish I could share his confidence.

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Winn Dixie (WINN) emerging from bankruptcy

Filed under: Earnings reports, Good news, Consumer experience, Competitive strategy

Grocery store chain Winn Dixie Stores Inc. (NASDAQ: WINN) is emerging from bankruptcy with remodeled stores, better shopping conditions and product mix, improved customer service, and strict attention to cost management. Same store sales for 1Q 2008 are essentially flat, but the company posted a huge reduction in net loss, $800,000, down from $24.6 million net loss one year ago, a $23.8 million improvement. Net income for 1Q 2008 was $1.6 billion, up $11 million. Gross profits increased $22 million to $446.4 million, and the 30 remodeled stores have registered increased foot traffic. Winn Dixie plans to remodel a total of 75 stores in 2008.

Winn Dixie is also focusing on cost control as it emerges from Chapter 11. Administrative and promotional expenses have been slashed, as have costs at the company's distribution facilities. Winn Dixie still faces significant capital expenditures for store remodeling, at least $140 million. Legal costs to emerge from bankruptcy will run in the $5 million to $7 million range.

Even in the midst of a difficult and complex multi-year turnaround, Winn Dixie has acted to gain the goodwill of consumers and investors. Winn Dixie remodeled and reopened one of the first full-service grocery stores in lower east side New Orleans to help the city rebuild. The company is on the front lines in the fight against breast cancer, providing educational materials in its stores and sponsoring free mammograms for women without access to health care services.

The stock currently trades around $19. Given the success of the company's turnaround thus far, this is a stock for bargain hunters to investigate.

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Iron Mountain (IRM): Growth in the paper trail

Filed under: Earnings reports, Technical Analysis, Stocks to Buy

Safe storage and document management is a prime concern for any company. One of the most highly recognized and consulted experts in the business is headquartered in Boston.

Iron Mountain (NYSE: IRM) is one of the largest information storage firms in the world, offering comprehensive records management, data protection, regulatory compliance and disaster recovery services. The company handles paper documents, computer records, microfilms, tapes, X-rays and blueprints for more than 100,000 corporate clients throughout North America, Europe, Latin America and the Asia Pacific.

The firm surprised the Street late last month, when it reported Q3 EPS of 25 cents and revenues of $702 million. Analysts had been expecting 18 cents and $687.2 million. Management also guided FY07 revenues to $2.70-$2.72 billion ($2.69B consensus) and announced the acquisition of electronic discovery specialist Stratify. The news popped the shares out of an October "cup" into the November "handle" of a Cup & Handle formation. The price is now showing signs of completing the pattern with a bullish rise from the right-hand side of the "handle."

Brokers recommend the issue with four "strong buys," two "buys," three "holds" and a single "sell." Analysts expect a 19% average annual growth rate through the next five years. The IRM Price to Sales ratio (2.74), Price to Book ratio (4.15) and EPS Growth rate (92.31%), compare favorably with industry, sector and S&P 500 averages. Institutional investors hold about 95% of the outstanding shares. Over the past 52 weeks, the stock has traded between $25.05 and $38.16. A stop-loss of $31 looks good here.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com.

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Hottest Products of 2007: Tesla Roadster -- clean and fast

Filed under: Products and services, Launches, Consumer experience, Rants and raves, Competitive strategy, Entrepreneurs, Technology

This post is part of our Hottest Products of 2007 feature. Also check out our other Hottest Products of 2007 posts and let us know which product you think is the greatest thing since sliced bread.

Do you want one? I want one. But the Tesla Roadster all-electric sports car, rumored to be coming out early next year, is sold out already. I have seen it on television and in several automotive and business journals, and it is an eye-catching, true sports car. And an environmentally friendly sports car, if you believe its billing. They also say it will go from 0 to 60 in under four seconds!

Imagine that: fast, good-looking and energy-efficient (245-mile range on a single charge)! But if you can't get one, what good is it? Well, you can't get one right away, but if you're patient and can swing the $98,000 price tag, rumor has it by the end of 2008, you might get lucky.

The founders of the company are Elon Musk -- former PayPal president, now chairman of Space X and Tesla Motors, who can afford just about anything -- and Martin Eberhard, former CEO of Tesla Motors.

Continue reading Hottest Products of 2007: Tesla Roadster -- clean and fast

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Internap loses finance chief to ... private equity?

Filed under: Private equity, Akamai Technologies (AKAM)

With the credit crunch, it seems that private equity is losing its luster, right? Maybe not. After all, with better valuations, the opportunities may be looking good.

Today we learned that the vice president and chief financial officer of Internap Network Services (NASDAQ: INAP), David Buckel, is leaving. And, yes, he's exploring opportunities in the private equity space.

Buckel has spent four years at the company, which is an operator of a content delivery network (CDN). Basically, this allows for improved distribution of online content and applications. There are more than 3,500 customers and revenues increased 32.7% to $60.9 million in Q3.

No doubt, this is far from good news for Internap. Keep in mind that the company must compete against fierce rivals, such as Akamai Technologies (NASDAQ: AKAM) and Limelight Networks (NASDAQ: LLNW). In fact, there are some signs of a price war.

So far in today's trading, Internap's stock is down nearly 8% to $10.82.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

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Jack in the Box (JBX): Shares define bullish 'flag' pattern

Filed under: Earnings reports, McDonald's (MCD), Yum Brands (YUM), Burger King Hldgs (BKC), Technical Analysis, Stocks to Buy

Many of us rarely enter fast food restaurants, preferring to conduct our business with them from the comfort of our driver's seats. Do you know which major hamburger chain was the first to develop and expand the concept of drive-thru dining? The company spokesman is a clownish looking fellow. He may not be the one you are imagining, though. This chap lives in a box.

Jack in the Box (NYSE: JBX) operates one of the nation's largest hamburger chains, with more than 2,100 Jack in the Box theme restaurants in 18 states. The company also operates a proprietary chain of convenience stores called Quick Stuff, with 60 locations, each built adjacent to a full-size Jack in the Box restaurant and including a major-brand fuel station. Additionally, the company operates and franchises Qdoba Mexican Grill, a fast-casual dining chain with more than 400 restaurants in 39 states. Burger King (NYSE: BKC), McDonald's (NYSE: MCD) and Yum! Brands (NYSE: YUM) are major competitors.

The firm had good news for investors last week, when it announced Q4 EPS of 43 cents and revenues of $678.4 million. Analysts had been expecting 39 cents and $679 million. In discussing the successful quarter, the CEO cited efforts to reposition the Jack in the Box brand to appeal to a broader base of consumers. Management also guided FY08 EPS to $2.13-2.21 ($1.98 consensus).

Continue reading Jack in the Box (JBX): Shares define bullish 'flag' pattern

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Earthlink not so high on muni Wi-Fi

Filed under: Cisco Systems (CSCO)

This week, EarthLink (NASDAQ: ELNK) continued its moves to restructure operations. The new initiative? Well, it is to explore "strategic alternatives" for its municipal Wi-Fi business. In other words, the company is looking for a buyer for the division.

To get a perspective on things, I had a chance to interview Craig Settles, an expert on muni Wi-Fi and the author of Fighting the Good Fight for Municipal Wireless.

According to him:

"The only ones who see this announcement as a cause for pause - whether detractors or supporters of municipal broadband - are people who continue to be distracted by the concept of muni networks as a consumer-centric application. Those of us who've said since 2006 that these networks' viable business case lies with local governments and businesses looking to improve operations understand that this is a logical progression for EarthLink. EarthLink could very well unveil services that position it to meet these needs.

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Serious Money: Electric utilities are the place to be

Filed under: Competitive strategy, China, Duke Energy (DUK), Top Picks 2007, Huaneng Power Intl ADS (HNP), Serious Money, DJIA, Stocks to Buy, PG and E Corporation (PCG), Southern Company (SO)

The more questions you have these days about the investment world, and the more concerned you are about economy over the next few years, the more you should have some of your assets in electric utilities. Regardless if our nation makes a push toward nuclear, solar, or wind power or does nothing at all, electric utilities will remain the big players. Year in and year out they have a stable customer base, pay a higher dividend yield and have a much higher level of predictability than almost any other investment class.

Another factor that is likely to contribute to the growth of electric utilities is the push toward electric "plug-in" cars. I have not done any analysis as to how this will affect global warming, the price of gas, the quality of air, or total national energy consumption, but those issues aside, if we change even 25% of the nation's automobiles to all-electric over the next ten years, that is a lot of growth.

Historically, the Dow Jones Utilities Average has beaten the pants off the Dow Jones Industrial Average for total return. There are short periods of time when the Industrials jump past the Utilities, but over the long haul, investors have done much better with what seems like the less attention-grabbing, boring old utilities. Choosing boring stocks remind you of anyone? Yes, "My Pal Warren" has been buying these boring stocks over the last decade (adding to his others in chocolate, underwear, ice cream and insurance) and you can see the results in the five-year chart comparing the two Dow indices.

Continue reading Serious Money: Electric utilities are the place to be

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United Technologies has appeal, rain or shine

Filed under: Industry, Competitive strategy, United Technologies (UTX), Stocks to Buy

Bull market, or -- as has been the case recently -- not-so-bull-market, United Technologies (NYSE: UTX) remains an attractive play for all but the most conservative investors.

United Technologies is one of those handful of stocks where you can buy 200 shares or 50 shares for your child's college fund, then look back on it in 10 or 15 years and be very glad you did.

Here are some of UTX's more impressive attributes: leadership position in high-value-added sectors, substantial defense contracts, infrastructure/capital improvement businesses, technological leadership, diversification & operational balance, economies of scale, massive amounts of engineering talent, long history of steady earnings growth and dividend growth. The Reuters F2007/F2008 EPS consensus estimates for UTX are $4.26-4.85.

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Woman settles over brain damage causing accident, but Wal-Mart gets the money

Filed under: Newspapers, Wal-Mart (WMT), Scandals

This is one of the most despicable, inhumane stories I've seen about Wal-Mart (NYSE: WMT) in awhile, courtesy of (subscription required) the Wall Street Journal.

Basically, a woman was left with permanent brain damage at the age of 45 after an accident with a semi-trailer truck. She was recently awarded a $700,000 settlement but then her employer, Wal-Mart, sued her for the money to reimburse itself for the money it spent on her medical costs.

I'm not a lawyer. I don't know about the legality here, but think about this: this poor lady's husband has to work 2 jobs now, and she is left alone in a nursing home far more than he would like her to be. And it's all because Wal-Mart needed $700, 000 to recoup what it spent on an employee's medical care. Wal-Mart made $11,284,000,000 in fiscal year 2007. This lady is spending time alone in a nursing home so the company could recoup $700 thousand.

At the very least, this is more horrible PR for Wal-Mart, and we shouldn't let them get away with it. Wal-Mart needs to learn that treating people badly is no way to boost the stock price.

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Freddie Mac loses $2 billion, seeks capital

Filed under: Bad news, Market matters, Federal Natl Mtge (FNM), Goldman Sachs Group (GS), Personal finance, Lehman Br Holdings (LEH), Housing

Freddie Mac (NYSE: FRE) reported a larger than expected $2 billion loss, which sent its stock tumbling in premarket trading, down $6.55 as of 8:56 a.m. EST from yesterday's close of $37.50. Freddie's cash position is so tight that it's already signed with Goldman Sachs (NYSE: GS) and Lehman Brothers (NYSE: LEH) for help in raising cash, according to the New York Times this morning.

This bad news shows the mortgage mess is spilling over from the riskier subprime fiasco to more traditional mortgages as home prices drop, gas and health care costs rise, salaries are stagnant and people are stretched to the breaking point financially. While in past years people may have refinanced and taken out more cash to help get through a rough patch, that avenue no longer exists.

According to the AP, Freddie Mac's board is "seriously considering" cutting its dividend in half for the fourth quarter. As a government chartered enterprise, Freddie Mac does not have to keep as much cash on hand as other lenders do, so when it reports a $2 billion loss with $1.2 billion in bad home loans, it quickly faces a cash crisis. Buddy Piszel, chief financial officer, told the AP, "We have begun raising prices, tightened our credit standards and enhanced our risk management practices. We also continue to improve our internal controls."

Fannie Mae (NYSE: FNM) also reported losses, which means mortgage money will get even tighter than it already is. Freddie and Fannie have taken up much of the slack as private investors have run from the mortgage market. Tighter lending will make it harder for people to get loans, which in turn will make it even more challenging to sell a home.

Lita Epstein has written more than 20 books including "The 250 Questions You Should Ask to Avoid Foreclosure" and the Complete Idiot's Guide to Improving Your Credit Score."

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H&R Block CEO Mark Ernst is latest subprime casualty

Filed under: From the boards, Press releases, Employees, Aetna Inc (AET), H and R Block (HRB), Housing

H&R Block Inc. (NYSE: HRB) Chief Executive Mark Ernst today resigned as his efforts to unloaded the company's money-losing subprime mortgage business Option One Mortgage Corp. to Cereberus Capital Management LP nears collapse, according to Bloomberg News.

Former SEC Chairman and hedge fund manager Richard Breeden, who had long complained about losses at Option One and lead a proxy battle against the company, was named chairman and Alan. M. Bennett, a former CFO of Aetna Inc. (NYSE: AET), interim chief executive. H&R Block is conducting a search for a new CEO. Bennett has told the company he doesn't wish to be considered as a candidate, the company said in a press release.

Cerebeus agreed to pay H&R Block $800 million for Option One in April, well under the $1.3 billion the company had hoped to get. Cereberus may scuttle the deal entirely now given the continued uncertainty of the credit markets. It's unclear what's going to happen to Option One which Ernst had said H&R Block may close if it couldn't find a buyer, Bloomberg said.

Shares of Kansas City-based H&R Block, which have slumped more than 17% this year, rose in pre-market trading. It will be interesting to see if Breeden will be able to help turn around H&R Block now that he's become an insider.

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Three steps to right the falling dollar

Filed under: International markets, Economic data, Federal Reserve

The dollar set a record low against the euro today -- The Associated Press reports that it now trades at $1.4787, up from $1.4667 late Monday in New York -- and has lost 61% of its value since January 2001. And since oil is denominated in dollars, the declining dollar has helped push oil to $95 -- roughly four times higher than it was in January 2001.

By now, it's well known that Gisele Bundchen and Jay-Z are stuffing their ample money containers with euros, not dollars. And now our colleagues at OPEC -- who include Saudi Arabia (also a supplier of 15 of 19 9/11 hijackers) -- along with Iran and Venezuela -- are talking about following these cultural icons. According to CNNMoney, Venezuela's president Hugo Chavez said, "Don't you see how the dollar has been in free-fall without a parachute?," calling the euro a better option.

Not much can be done about the problem now. But when Barack Obama -- or whoever wins the election -- is sworn in as president in January 2009, he (or she) ought to take these three steps:

Continue reading Three steps to right the falling dollar

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Option update: Freddie Mac and Fannie Mae volatility increases on sell off

Filed under: Earnings reports, Bad news, Housing

Freddie Mac (NYSE: FRE) is recently down$10.61 to $27 after reporting a Q3 loss of $2 billion, reflecting a higher provision for credit losses and losses on mark-to-market items. FRE is considering issuing preferred, convertible or common stock. FRE is considering cutting its Q4 dividend by 50%. FRE December option implied volatility of 89 is above a level of 73 from yesterday and above its 26-week average of 36 according to Track Data, suggesting larger price fluctuations.

Fannie Mae (NYSE: FNM) is recently down $6.83 to $30.75. FNM December option implied volatility of 93 is above a level of 81 from yesterday and above its 26-month average of 36 according to Track Data, suggesting larger price fluctuations.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

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Hottest Products of 2007: Nintendo Wii sweeps gamers ON their feet

Filed under: Products and services, Industry, Consumer experience, Competitive strategy, Microsoft (MSFT), Sony Corp ADR (SNE), Technology

This post is part of our Hottest Products of 2007 feature. Also check out our other Hottest Products of 2007 posts and let us know which product you think is the greatest thing since sliced bread.

Nintendo (OTC: NTDOY)'s Wii gaming console was a non-contender -- an underdog -- this time last year. The gaming console with the funny name was set to launch with little fanfare compared to the Sony Corp. (NYSE: SNE) PlayStation 3 (or compared to Microsoft (NASDAQ: MSFT)'s Xbox 360, launched a year earlier), but caught eyes because it was priced at only $250, compared to $600 for the PlayStation 3 and $400 for the Xbox 360. But then again, it had inferior graphics and other downgrades. My, my -- how customers didn't care about its competitors' touted features and other fluff.

Why not, you ask? The Nintendo Wii featured the most innovative and immersive gameplay, regardless of the hi-def video or audio output and inferior graphics. Nintendo figured out that consumers wanted a newer kind of gameplay -- not photo-realistic blood and guts. As an aside, they designed the initial games and many others to get game players off those duffs and onto their feet, wildly slinging those Wii-motes through the air -- swatting tennis balls, slaying dragons and driving cars. The mass, mainstream consumer loved it, and so the age of Wii was born.

Continue reading Hottest Products of 2007: Nintendo Wii sweeps gamers ON their feet

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Hong Kong ETF (EWH): 'Dynamic' potential

Filed under: International markets, China, Newsletters, Stocks to Buy

"We're excited about the prospects for participation in the dynamic Hong Kong stock market through the iShares MSCI Hong Kong Index (ASE: EWH), our latest new buy," says Jim Trippon.

In his China Stock Digest, the advisor explains, "The ETF provides us with access to the Hong Kong Exchange's best equities, stocks which are usually inaccessible to foreign investors."

"This exchange-traded fund provides many of the benefits usually attributed to a mutual fund without the high expense ratio that some funds charge. As an ETF, the shares can be bought and sold as quickly and easily as any stock on the New York Stock Exchange.

"EWH uses a 'passive' or indexing investment approach, which attempts to approximate the investment performance of its benchmark index compiled by Morgan Stanley Capital International (MSCI).

"The EWH Fund does not match exactly the high-flying and well-known Hang Seng Index, which continues to set records, topping the 30,000 mark in October. In tracking the Morgan Stanley Capital International Index, EWH is based on a portfolio of large cap, value-oriented equities.

Continue reading Hong Kong ETF (EWH): 'Dynamic' potential

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Growing pains: China's economy reveals costs

Filed under: International markets, Other issues, China, Commodities, Oil, Eastern Europe, Agriculture

So far, China's effort to slow its economy is not working.

China's economy continues to grow at double-digit rates. Commodity and resource utilization remain high, speculative excesses abound, and exports? China's trade surplus keeps soaring, with the United States and Europe incurring rising trade deficits.

The Chinese government announced that over the past 12 months, China's trade deficit with Europe increased an alarming 46% to $135 billion, The New York Times reported. Over the same period, the trade deficit with the United States did not increase as much, in percentage terms, up 18%, but in absolute terms the U.S. still leads the pack with a daunting $162 billion trade deficit.

Surging trade surplus

Further, during the past 12 months, China's overall trade surplus exceeded $250 billion, including a record $27 billion in October 2007.

Continue reading Growing pains: China's economy reveals costs

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Fitch may cut Freddie's preferred stock rating

Filed under: Market matters, Money and Finance Today, Housing

Freddie Mac (NYSE: FRE) indicated that it wants to seek more capital when it reported its $2 billion loss this morning, but that capital might be more expensive if Fitch Ratings cuts its rating by one notch. Fitch issued a statement this morning indicating that a cut in rating for Freddie Mac is being considered.

Fitch said in its statement reported by Reuters that Freddie Mac "faced a challenge in meeting capital targets set by its regulator, the Office of Federal Housing Enterprise Oversight (OFHEO)." Freddie is the second largest U.S. mortgage finance company. Fannie Mae is the largest.

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Analyst upgrades: WYNN, XOM, HES, SBUX and TSN

Filed under: Analyst upgrades and downgrades, Starbucks (SBUX), Exxon Mobil (XOM), Under Armour'A' (UA), TXU Corp (TXU)

MOST NOTEWORTHY: Wynn Resorts, Exxon, Hess, Starbucks and Tyson Foods were today's noteworthy upgrades.

• Jefferies upgraded Wynn (NYSE:WYNN) to Buy from Hold on valuation, as they believe the recent 25% drop in the stock creates a buying opportunity.
  
• UBS upgraded Exxon (NYSE:XOM) and Hess (NYSE:HES) to Buy from Neutral due to an increase in the firm's oil price forecast.
  
• Friedman Billings upgraded Starbucks (NASDAQ:SBUX) to Outperform from Market Perform because they believe shareholder activism will influence the company in the wake of its downturn.
  
• Tyson Foods (NYSE:TSN) was upgraded to Outperform from Market Perform by BMO Capital because the firm thinks the company's pork business will strengthen in 2008...

OTHER UPGRADES:

• Under Armour (NYSE:UA) was upgraded to Buy from Neutral by UBS.
  
• Polaris Industries (NYSE:PII) was upgraded to Neutral from Sell by Bank of America.
  
• Roth upgraded Progressive Gaming (NASDAQ:PGIC) to Buy from Hold.

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Dollar falls to new low against euro

Filed under: International markets, Bad news, Federal Reserve

The dollar hit a new low against the euro Tuesday, with the euro trading above $1.48 for the first time, on word the Gulf Cooperation Council was debating whether to keep its dollar pegs.

Currency Trader Andrew Resnick, formerly of Next Capital of New York, told BloggingStocks Tuesday that the elimination of dollar pegs will add to pressure on the dollar.

"The pegs support the dollar to a degree, but the real factors here are the slowness of growth in the U.S. economy, and the U.S. trade deficit," Resnick said. "Until we see those two factors change, the trend is likely to remain dollar lower, across the board."

Continue reading Dollar falls to new low against euro

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Office Depot outlook disappoints

Filed under: Earnings reports, Bad news, Industry, Office Depot (ODP), Options, Technical Analysis

Office Depot, Inc. (NYSE: ODP) stock is falling this morning on news that it does not expect fourth quarter sales to match sales from the third quarter. Q3 results reported today were solid, as the company posted 43 cents EPS against expectations of 40 cents, but the company's outlook for the holiday dragged down shares and in this morning's conference call, ODP warned that 2008 first quarter sales could also drop off. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on ODP.

After hitting a one-year high of $42.03 last November, the stock hit a one-year low of $16.51 in October. This morning, ODP opened at $18.08. So far today the stock has hit a low of $17.82 and a high of $18.71. As of 10:55, ODP is trading at $18.25, down 55 cents(-2.9%). The chart for ODP looks neutral but improving, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

Continue reading Office Depot outlook disappoints

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Analyst initiations: RIMM, VM, VMW and MFE

Filed under: Research in Motion (RIMM), Analyst initiations

MOST NOTEWORTHY: Research in Motion, Virgin Mobile, VMWare, and McAfee were today's noteworthy initiations.

• Research in Motion (NASDAQ:RIMM) was initiated with an Overweight by Thomas Weisel, which thinks the company has one of the strongest growth profiles among large-cap tech stocks.
  
• Virgin Mobile (NYSE:VM) was initated with an Overweight by Thomas Weisel, which cited the company's strong global brand and low cost base.
  
• Pacific Crest initiated VMWare (NYSE:VMW) with a Sector Perform based on the company's thin float and competitive risks.
  
• McAfee (NYSE:MFE) was reinstated with a Buy by Deutsche Bank, which believes the company is one of the best positioned security vendors due to its comprehensive security platform.

OTHER INITIATIONS:

• Thomas Weisel initiated Palm (NASDAQ:PALM) with a Market Weight rating.
  
• Gabelli initated Edison International (NYSE:EIX) with a Buy rating.
  
• Bank of America initiated Akamai (NASDAQ:AKAM) with a Neutral rating.

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Warren Buffett not buying CarMax after all -- Are markets efficient?

Filed under: Rumors, Berkshire Hathaway (BRK.A)

Shares of CarMax (NYSE: KMX) soared 7.5% last week on rumors that Berkshire Hathaway's (NYSE: BRK.A) Warren Buffett was was buying.

But it wasn't so. In reality, Berkshire subsidiary Geico was buying the stock. While that company's stockpicker, Lou Simpson, has a strong reputation, it is not up to the level that his involvement sends stocks flying.

But let's think about the wisdom of stocks going up because Buffett is buying, and whether it fits into the efficient market hypothesis, the theory taught in finance classes across the country. The theory states that the market is a nearly perfect discounting mechanism, and that the current stock price reflects the present value of the company's future cash flows.

If that's true, why did CarMax go up 7.5% on rumors of Buffett's interest? That's a gain in value of more than $300 million and, this is important, Buffett is never an activist investor. He buys companies where he likes the management, and makes no effort to shake things up. So how could his buying possibly add $300 million to the present value of CarMax's future cash flows?

I'm generally a believer in at least the weak form of the efficient market hypothesis, but there are all kinds of little holes in the stronger form, and the phenomenon of copycat buying would appear to be one of them

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Analyst downgrades: PEP, SBUX, PHRM and ICE

Filed under: Analyst upgrades and downgrades, Starbucks (SBUX), PepsiCo (PEP)

MOST NOTEWORTHY: PepsiCo, Starbucks, Pharmion, and Intercontinental Exchange were today's notable downgrades.

• PepsiCo (NYSE:PEP) was removed from the Focus List by JPMorgan, which cited valuation for the move.
  
• Starbucks (NASDAQ:SBUX) was downgraded to Sector Performer from Outperformer by CIBC, which believes the company's price to earnings multiple will contract as the company grows.
  
• BMO Capital downgraded Pharmion (NASDAQ:PHRM) to Market Perform from Outperform following the company's acquisition.
  
• JPMorgan removed Intercontinental Exchange (NYSE:ICE) from their Focus List due to valuation.

OTHER DOWNGRADES:

• Fair Isaac (NYSE:FIC) was downgraded to Equal Weight from Overweight by Stephens.
  
• Sandler O'Neill and Partners downgraded Wells Fargo (NYSE:WFC) to Hold from Buy.
  
• Goldman Sachs downgraded American Tower (NYSE:AMT) to Neutral from Buy.
  
• Thomas Weisel downgraded MGI Pharma (NASDAQ:MOGN) to Market Weight from Overweight

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Condo starts improve housing outlook, but don't get excited

Filed under: Market matters, Housing

Condo starts helped to increase the annual rate for housing starts by 3% to 1.229. They were expected to fall to 1.17 from the 1.191 million in September, so that's good news. While single family home starts did drop to an 884,000 annual rate, which is the lowest rate in 16 years, multifamily home starts rose to a 345,000 annual rate. Don't get too excited though. Multifamily homes declined 36% in September, so this 44% increase is primarily because of delays in starts from September that spilled over into October.

Richard Moody, Chief Economist for Mission Residential, prefers to look at the six month moving average to see what's really happening in housing because that tends to smooth out the ups and downs of the market. The six-month moving average for single family homes is down to its lowest point since October 1992. He added, "This is not, however, the bottom, or even close to it - total housing permits fell by 4.6%, while single family permits dropped by 6.1%. This brings the moving average for single family permits to its lowest level since August 1995.

Why do permits matter? If builders aren't getting permits that means they won't be able to build on that land in the future. Builders are seeking less permits because they don't see a demand for more new homes. Right now they are building just on the permits already in place, if they are building at all. That is good news for people who own existing homes because the number of news homes in competition will drop as the current inventory falls.

Moody said, "By now, the issues facing the housing market are well documented. Swollen inventories of unsold homes, which at current sales rates would take almost 10 months to work off but will surely worsen due to looming foreclosures, tighter lending standards, and a mortgage credit squeeze due largely to a dried up secondary market, all point to further declines in construction over coming months."

Bloomberg reported that starts were up in three areas of the country: Midwest saw a 21% jump in starts, the Northeast construction rose 8.5% and starts were up 5.8% in the West. In the South starts were down by 4.6%.

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Yahoo! (YHOO) rises on Sony BMG video deal

Filed under: Deals, Good news, Google (GOOG), Yahoo! (YHOO), Sony Corp ADR (SNE), Options, Technical Analysis

Yahoo! Inc. (NASDAQ: YHOO) shares are trading higher today after the company announced this morning that it has signed an online content deal with Sony BMG, a subsidiary of Sony Corporation (NYSE: SNE). The deal would allow people to upload files with music or video content by Sony BMG artists to Yahoo. Financial terms of the deal were not disclosed, but YHOO said that Sony BMG would receive a cut of advertising revenue. If you think that Yahoo!, won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on the stock.

After hitting a one-year high of $34.08 in October, the stock has declined over the past month. YHOO opened this morning at $26.93. So far today the stock has hit a low of $26.85 and a high of $27.25. As of 11:05, YHOO is trading at $27.09, up 35 cents (1.3%). The chart for YHOO looks bullish but deteriorating, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

Continue reading Yahoo! (YHOO) rises on Sony BMG video deal

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Oil rises above $96 on dollar's fall

Filed under: International markets, Bad news, Exxon Mobil (XOM), Middle East, Commodities, Oil, Headline news

Crude oil jumped about 2% Tuesday morning to around $96.50 per barrel after the dollar fell to a new low against the euro.

Heating oil also jumped about 5 cents to $2.65 and unleaded gasoline surged about 3.5 cents ahead of the [U.S.] Thanksgiving holiday, historically a very high gasoline consumption period in the United States.

Dollar affects oil

Jim Dietz, independent energy trader, told Bloggingstocks Tuesday that in addition to solid U.S. gasoline demand, strong emerging market oil demand, and geopolitical concerns, there's another factor supporting oil's price: crowding-out by Europeans and others with strong currencies.

"When the euro rises against the dollar, that means Europe can purchase more oil, which is priced in dollars, with their euros," Dietz said. "So they tend to overbid a little and that's what's giving oil a little bump today." Earlier in the day the euro rose to a new high of $1.48 against the dollar before pulling back slightly.

Continue reading Oil rises above $96 on dollar's fall

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Sprint's network interfering with safety radio frequencies

Filed under: Bad news, Sprint Nextel Corp (S)

Things are sure dicey at Sprint Nextel Corp. (NYSE: S) these days. The wireless carrier fired its CEO just recently, customer numbers are dropping every quarter and the company seemingly bailed out of its ambitious WiMAX network plans for fear of taking focus away from its core wireless network.

Well, one of those 'core' networks has a problem. When Nextel merged with Sprint a few years back, the Nextel network was supposed to operate alongside the Sprint network (the two networks are technically incompatible). Nobody knew how these two networks would co-exist, although Sprint says they will for quite some time. The problem is that the Nextel 'iDEN' network is causing some serious problems insofar as interfering with police and fire radio systems nationwide due to the radio frequency it operates on.

So, Sprint has something else to face now. If the company cannot repair its iDEN network -- still used by millions of Sprint Nextel customers -- by next June, it will be shut down to ensure police and fire radio bands operate without interference. This is a problem for Sprint, and it gives the wireless carrier little breathing room in terms of trying to make major modifications to an operating national wireless network in just over half a year's time. If Sprint can't pull this off, then it will have even more problems from existing Nextel customers and could lose even more of its customer base next year. Not good.

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Abercrombie & Fitch (ANF) gets a boost from Nordstrom (JWN) results

Filed under: Major movement, Earnings reports, Good news, Industry, Abercrombie and Fitch (ANF), Options, Technical Analysis, Nordstrom, Inc (JWN)

Abercrombie & Fitch Co. (NYSE: ANF) shares are getting a boost this morning after fellow high-end retailer Nordstrom (NYSE: JWN) posted a third-quarter profit well above analysts' expectations. JWN's Q3 profit rose 22 percent to $165.7 million, or 68 cents per share, while analysts were looking for 52 cents. Investors are bidding up luxury retailers today in anticipation of good results from similar companies. If you think that ANF won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on that stock.

After hitting a one-year high of $85.77 in October, the stock has declined over the past month. ANF opened this morning at $72.50. So far today the stock has hit a low of $72.01 and a high of $75.00. As of 11:15, ANF is trading at $74.66, up $2.30 (3.2%). The chart for ANF looks bearish and steady, while S&P gives the stock its highest 5 STARS (out of 5) strong buy rating.

Continue reading Abercrombie & Fitch (ANF) gets a boost from Nordstrom (JWN) results

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PetSmart to quit horsing around

Filed under: Earnings reports, Good news, Consumer experience, Competitive strategy

PetSmart Inc. (NASDAQ: PETM), the country's largest supplier of all types of pet needs, is taking a $4.7 million write down to exit the horse equipment business in its stores. From now on, PetSmart will concentrate on cats, dogs, ferrets and fish. The company released 3Q 2007 results last week. Net sales were up 1.4% to $1.12 billion, but net income was down $2 million to $29.5 million. PetSmart figures it can turn a bigger profit per square foot by concentrating on smaller sized pet needs, as well as by providing pet services such as grooming and training. Pet services income increased 23% to $111 million for the quarter.

PetSmart also operates in-store Banfield veterinary offices through MMI Holdings, but is in the process of changing the financial arrangements that govern that relationship. PetSmart sold its portion of MMI Holdings Inc. earlier in the year. The proceeds from the sale account for $0.48 per share for the full year projected EPS of $2.05-2.09. To bolster its bottom line, PetSmart has accelerated its stock buyback, purchasing 6.2 million shares for $225 million during 3Q 2007, with plans to purchase another $75 million worth of stock.

Unlike many retailers that are cautious about this holiday shopping season, CEO Phil Francis is optimistic. Shelves once given over to equine equipment are now filled with quicker selling gift items for household pets "to delight the customer."

In addition to its retail functions, PetSmart also operates PetSmart Charities, which sent pet rescue vans and supplies to California to assist with animal evacuations during the recent wildfires. To date, PetSmart's in-store pet adoption program has given the gift of a home and family to more than 3 million pets.

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