Big winners on Wall Street are yesterday's dogs

Click for more market data.

NEW YORK (CNNMoney)

First Solar was the best performing stock among the S&P 500, gaining more than 65% over the past three months.

It's a remarkable rebound for the leading maker of solar panels, which saw its stock fall 12% in the first quarter.

First Solar (FSLR) wowed investors in April with a surprisingly bullish outlook for the year. The stock shot up 43% in one day, after First Solar said it expected profits to be 28% above previous forecasts this year on healthy sales growth.

The solar industry has been in a slump as low-cost imports from China have depressed prices. But solar panel prices have stabilized and First Solar said demand is ramping up.

First Solar wasn't the only underdog to make a comeback.

J.C. Penney (JCP, Fortune 500) shares gained more than 12% during the quarter, recovering about half of their first quarter losses.

The retailer ousted CEO Ron Johnson in April, after his controversial turnaround plan failed to show results. J.C. Penney publicly apologized for the changes, and ran an ad on its YouTube channel that practically begged customers to come back.

Related: Top hedge fund manager bets on a return to normal markets

In business for more than 100 years, J.C. Penney has been swimming in red ink as it struggles to compete with online retailers. But the company has been strengthening its finances in an effort to mount another turnaround. It scored a $1.75 billion loan from Goldman Sachs (GS, Fortune 500) in April.

Other top performers in the quarter include popular momentum stocks, such as GameStop (GME, Fortune 500), Micron Technology (MU, Fortune 500) and Best Buy (BBY, Fortune 500).

Best Buy has also been on a turnaround kick, cutting costs and closing under performing stores. Investors have welcomed the moves, sending shares up 26% in the quarter, despite a disappointing sales report in May.

It was also a good quarter for health insurance companies. Shares of Aetna (AET, Fortune 500), WellPoint (WLP, Fortune 500) and Humana (HUM, Fortune 500) all rose by more than 23%.

Golden parachute? Mining companies were among the worst performers in the quarter as prices of precious and non-precious metals plunged.

Shares of Alpha Natural Resources (ANR, Fortune 500) and Newmont Mining (NEM, Fortune 500) fell more than 30%. Iron Mountain (IRM) and Freeport McMoRan (FCX, Fortune 500) also suffered double-digit losses.

Investors have been dumping mining stocks as gold prices plunge.

Related: Gold plunges to two-year low

The precious metal is down 25% this quarter, falling below $1,200 an ounce this week for the first time since August 2010. The largest gold-backed ETF, the SPDR Gold Shares Trust (GLD), lost nearly 24% during the past three months.

While the sell-off in gold has caught the most headlines, mining stocks have also been hurt by the falling price of copper.

Copper prices plunged nearly 12% in the second quarter as demand from China slowed and supplies increased.

A number of energy companies were also hit hard.

Marathon Petroleum (MPC, Fortune 500) shares are down more than 20% for the quarter, after gaining 42% in the first quarter. The company has been playing catch-up on the boom in domestic energy production, and is exposed to a slowdown in emerging market demand.

Peabody Energy (BTU, Fortune 500), which specializes in coal mining, and gas station operator Valero (VLO, Fortune 500) were also big losers in the quarter.

First Published: June 28, 2013: 12:44 PM ET

21.29 | 0 komentar | Read More

Starbucks' caffeine-fueled expansion

A cup of joe from the Starbucks coffee shop in Beijing's Forbidden City.

(Money Magazine)

It's a remarkable turnaround for a firm that just five years ago had to bring back former CEO Howard Schultz after overexpansion and error-filled forays beyond coffee -- ranging from breakfast foods to music -- eroded customer patience. After righting the ship, management is again embarking on another major expansion. But at what cost?

Venti valuations

After more than quadrupling in the past four years, the stock is foamy.

	Projected P/E ratios
Starbucks	27.1
Restaurant stocks	21.2
S&P 500	15.2

Notes: Price/earnings ratios are based on projected profits. Sources: Bloomberg, Morningstar

Strong brew

"Say 'Starbucks' to the average American, and they'll not only think of coffee, but good coffee," says David Ricci, co-manager of William Blair Large Cap Growth, which owns the stock. The same can now be said for global consumers.

Starbucks (SBUX, Fortune 500) is the world's only premium coffee superpower, and its basic business -- selling expensive cups of joe and even pricier espresso drinks through nearly 18,900 stores worldwide -- is as robust as its earthy Sumatra roast.

Related: Starbucks hikes prices

Even with a recession in Europe, global same-store sales still rose 6%. Revenues should climb 11.5% this year, vs. 7% growth for Dunkin' Brands (DNKN) (parent of Dunkin' Donuts).

And SBUX will save more than a quarter-billion dollars in coffee costs in the next two years because of falling bean prices.

Caffeinated costs

Starbucks is growing all over. The company plans to build 600 more cafés in the U.S. this year and another 1,000 stores in China by the end of 2015. It bought Teavana, Evolution Fresh, and La Boulange for $750 million to move more into teas, juices, and baked goods.

The roaster is also making a big push into the at-home market through K-cup sales and its new Verismo brewing system.

Related: Starbucks starts paying U.K. tax

"One concern is, Are you doing too much?" says Bill McVail, analyst at Turner Global Opportunities Fund, which owns the stock.

The reason the firm had to go back to Schultz was it tried -- and failed at -- brand extension via ice creams and even a music label. While croissants and coffee pods are closer to the core business, a misstep could dim Wall Street's starry eyes.

Steamy valuations

Starbucks is poised for years of growth, but it's also "a company with a valuation that is just too expensive for us," says Regina Lombardi, co-manager of BBH Global Core Select. The stock's price/earnings ratio is nearly double the S&P 500's, so you have to pay to jump on this caffeine-fueled bandwagon.

That said, even after boosting spending, Starbucks has $1.7 billion in cash, 10 times Dunkin's stash. Management is also likely to boost dividends in line with strong earnings growth, says Ashley Woodruff, an analyst at the T. Rowe Price Blue Chip Growth Fund, which owns the stock. "Starbucks is able to pay shareholders and still invest in the businesses it wants," she says.

Think: a splash of income to go with rich growth.

First Published: June 28, 2013: 4:42 PM ET

21.29 | 0 komentar | Read More

Paula Deen's business partners vow to support her

NEW YORK (CNNMoney)

Walmart (WMT, Fortune 500), Target (TGT, Fortune 500), Home Depot (HD, Fortune 500), Sears (SHLD, Fortune 500), JC Penney (JCP, Fortune 500) and Caesars (CZR, Fortune 500) have recently ended their deals with Deen while drugmaker Novo Nordisk (NVO) and home shopping channel QVC have suspended their dealings with the embattled celebrity chef.

On Friday, President Jimmy Carter, whose Atlanta-based Carter Foundation is hosting a human rights forum this weekend, weighed in on the issue.

"She was maybe excessively honest in saying that she had in the past, 30 years ago, used this terrible word," Carter told CNN's Suzanne Malveaux.

Carter, while not condoning Deen's racial slurs, said she's been punished enough and that he advised her to get the people she's helping to speak up.

Several of her business partners are doing just that, speaking up and pledging to stand by her. Many have issued letters of support for Deen.

Sandridge Food Corporation, a fresh foods manufacturer that produces deli salads, soups, entrees, desserts, sauces and dips, released a statement Wednesday announcing its unwavering support for Deen.

"Paula is a very caring person who has spent the majority of her life helping the less privileged and giving back," said CEO Mark Sandridge. "As an organization, we believe she and her team are on the right track and we look forward to continuing to work together."

Related: Paula Deen business shaken by controversy

Sandridge says he knows Deen personally and asserts the woman portrayed in the media is not the woman he knows.

"The woman that I know is a very giving person; I do not believe she's a racist whatsoever," said Sandridge. "We know where she comes from and she is genuinely about equality for all."

Kevin Lyles, President and Chief Operating Officer of Club Marketing Services -- which helps companies sell to Wal-Mart and Sam's Club -- affirmed his support for Deen.

"Her apology for the past, I believe came from the heart," said Lyles "The commitment to fairness and equality in the workplace for everyone was from the heart and also a clear message to everyone working for her and those supporting her brand that this behavior will not be tolerated by Paula Deen Enterprises going forward."

Lyles, a personal friend of Deen's for about four years, says she has always shown love and compassion for her fellow man, and has made financial decisions that have not always been in her best interest.

As Deen became a household name, he said she had many opportunities to drop smaller companies that were supporting her and switch to larger companies that could benefit her more financially. But Lyles said Deen instead chose to stay with them.

"She wanted the people that supported her to grow with her," Lyles said.

Related: Paula Deen fans lash out against Wal-Mart

Perhaps one of Deen's most ardent supporters is Julie Goodman Cook, a sales consultant who oversees the Paula Deen cruise for Alice Travel. Cook's unwavering support was on full display as she explained how generous and giving Deen has been.

Cook said, while on the Deen themed cruise, the chef auctioned off personal items such as clothing worn while on TV as well as serving dishes, artwork and other items from her home. The auction raised almost $80,000 for Deen's Bag Lady Foundation which supports women and families in need.

Cook said the support she has seen from Deen's fans of all races has been overwhelming. "My phone has not stopped ringing," said Cook. "The emails haven't stopped, Facebook is going crazy and they are all positive comments from her fans."

First Published: June 28, 2013: 3:16 PM ET

21.29 | 0 komentar | Read More

Big winners on Wall Street are yesterday's dogs

Click for more market data.

NEW YORK (CNNMoney)

First Solar was the best performing stock among the S&P 500, gaining more than 65% over the past three months.

It's a remarkable rebound for the leading maker of solar panels, which saw its stock fall 12% in the first quarter.

First Solar (FSLR) wowed investors in April with a surprisingly bullish outlook for the year. The stock shot up 43% in one day, after First Solar said it expected profits to be 28% above previous forecasts this year on healthy sales growth.

The solar industry has been in a slump as low-cost imports from China have depressed prices. But solar panel prices have stabilized and First Solar said demand is ramping up.

First Solar wasn't the only underdog to make a comeback.

J.C. Penney (JCP, Fortune 500) shares gained more than 12% during the quarter, recovering about half of their first quarter losses.

The retailer ousted CEO Ron Johnson in April, after his controversial turnaround plan failed to show results. J.C. Penney publicly apologized for the changes, and ran an ad on its YouTube channel that practically begged customers to come back.

Related: Top hedge fund manager bets on a return to normal markets

In business for more than 100 years, J.C. Penney has been swimming in red ink as it struggles to compete with online retailers. But the company has been strengthening its finances in an effort to mount another turnaround. It scored a $1.75 billion loan from Goldman Sachs (GS, Fortune 500) in April.

Other top performers in the quarter include popular momentum stocks, such as GameStop (GME, Fortune 500), Micron Technology (MU, Fortune 500) and Best Buy (BBY, Fortune 500).

Best Buy has also been on a turnaround kick, cutting costs and closing under performing stores. Investors have welcomed the moves, sending shares up 26% in the quarter, despite a disappointing sales report in May.

It was also a good quarter for health insurance companies. Shares of Aetna (AET, Fortune 500), WellPoint (WLP, Fortune 500) and Humana (HUM, Fortune 500) all rose by more than 23%.

Golden parachute? Mining companies were among the worst performers in the quarter as prices of precious and non-precious metals plunged.

Shares of Alpha Natural Resources (ANR, Fortune 500) and Newmont Mining (NEM, Fortune 500) fell more than 30%. Iron Mountain (IRM) and Freeport McMoRan (FCX, Fortune 500) also suffered double-digit losses.

Investors have been dumping mining stocks as gold prices plunge.

Related: Gold plunges to two-year low

The precious metal is down 25% this quarter, falling below $1,200 an ounce this week for the first time since August 2010. The largest gold-backed ETF, the SPDR Gold Shares Trust (GLD), lost nearly 24% during the past three months.

While the sell-off in gold has caught the most headlines, mining stocks have also been hurt by the falling price of copper.

Copper prices plunged nearly 12% in the second quarter as demand from China slowed and supplies increased.

A number of energy companies were also hit hard.

Marathon Petroleum (MPC, Fortune 500) shares are down more than 20% for the quarter, after gaining 42% in the first quarter. The company has been playing catch-up on the boom in domestic energy production, and is exposed to a slowdown in emerging market demand.

Peabody Energy (BTU, Fortune 500), which specializes in coal mining, and gas station operator Valero (VLO, Fortune 500) were also big losers in the quarter.

First Published: June 28, 2013: 12:44 PM ET

19.33 | 0 komentar | Read More

Starbucks' caffeine-fueled expansion

A cup of joe from the Starbucks coffee shop in Beijing's Forbidden City.

(Money Magazine)

It's a remarkable turnaround for a firm that just five years ago had to bring back former CEO Howard Schultz after overexpansion and error-filled forays beyond coffee -- ranging from breakfast foods to music -- eroded customer patience. After righting the ship, management is again embarking on another major expansion. But at what cost?

Venti valuations

After more than quadrupling in the past four years, the stock is foamy.

	Projected P/E ratios
Starbucks	27.1
Restaurant stocks	21.2
S&P 500	15.2

Notes: Price/earnings ratios are based on projected profits. Sources: Bloomberg, Morningstar

Strong brew

"Say 'Starbucks' to the average American, and they'll not only think of coffee, but good coffee," says David Ricci, co-manager of William Blair Large Cap Growth, which owns the stock. The same can now be said for global consumers.

Starbucks (SBUX, Fortune 500) is the world's only premium coffee superpower, and its basic business -- selling expensive cups of joe and even pricier espresso drinks through nearly 18,900 stores worldwide -- is as robust as its earthy Sumatra roast.

Related: Starbucks hikes prices

Even with a recession in Europe, global same-store sales still rose 6%. Revenues should climb 11.5% this year, vs. 7% growth for Dunkin' Brands (DNKN) (parent of Dunkin' Donuts).

And SBUX will save more than a quarter-billion dollars in coffee costs in the next two years because of falling bean prices.

Caffeinated costs

Starbucks is growing all over. The company plans to build 600 more cafés in the U.S. this year and another 1,000 stores in China by the end of 2015. It bought Teavana, Evolution Fresh, and La Boulange for $750 million to move more into teas, juices, and baked goods.

The roaster is also making a big push into the at-home market through K-cup sales and its new Verismo brewing system.

Related: Starbucks starts paying U.K. tax

"One concern is, Are you doing too much?" says Bill McVail, analyst at Turner Global Opportunities Fund, which owns the stock.

The reason the firm had to go back to Schultz was it tried -- and failed at -- brand extension via ice creams and even a music label. While croissants and coffee pods are closer to the core business, a misstep could dim Wall Street's starry eyes.

Steamy valuations

Starbucks is poised for years of growth, but it's also "a company with a valuation that is just too expensive for us," says Regina Lombardi, co-manager of BBH Global Core Select. The stock's price/earnings ratio is nearly double the S&P 500's, so you have to pay to jump on this caffeine-fueled bandwagon.

That said, even after boosting spending, Starbucks has $1.7 billion in cash, 10 times Dunkin's stash. Management is also likely to boost dividends in line with strong earnings growth, says Ashley Woodruff, an analyst at the T. Rowe Price Blue Chip Growth Fund, which owns the stock. "Starbucks is able to pay shareholders and still invest in the businesses it wants," she says.

Think: a splash of income to go with rich growth.

First Published: June 28, 2013: 4:42 PM ET

19.33 | 0 komentar | Read More

Paula Deen's business partners vow to support her

NEW YORK (CNNMoney)

Walmart (WMT, Fortune 500), Target (TGT, Fortune 500), Home Depot (HD, Fortune 500), Sears (SHLD, Fortune 500), JC Penney (JCP, Fortune 500) and Caesars (CZR, Fortune 500) have recently ended their deals with Deen while drugmaker Novo Nordisk (NVO) and home shopping channel QVC have suspended their dealings with the embattled celebrity chef.

On Friday, President Jimmy Carter, whose Atlanta-based Carter Foundation is hosting a human rights forum this weekend, weighed in on the issue.

"She was maybe excessively honest in saying that she had in the past, 30 years ago, used this terrible word," Carter told CNN's Suzanne Malveaux.

Carter, while not condoning Deen's racial slurs, said she's been punished enough and that he advised her to get the people she's helping to speak up.

Several of her business partners are doing just that, speaking up and pledging to stand by her. Many have issued letters of support for Deen.

Sandridge Food Corporation, a fresh foods manufacturer that produces deli salads, soups, entrees, desserts, sauces and dips, released a statement Wednesday announcing its unwavering support for Deen.

"Paula is a very caring person who has spent the majority of her life helping the less privileged and giving back," said CEO Mark Sandridge. "As an organization, we believe she and her team are on the right track and we look forward to continuing to work together."

Related: Paula Deen business shaken by controversy

Sandridge says he knows Deen personally and asserts the woman portrayed in the media is not the woman he knows.

"The woman that I know is a very giving person; I do not believe she's a racist whatsoever," said Sandridge. "We know where she comes from and she is genuinely about equality for all."

Kevin Lyles, President and Chief Operating Officer of Club Marketing Services -- which helps companies sell to Wal-Mart and Sam's Club -- affirmed his support for Deen.

"Her apology for the past, I believe came from the heart," said Lyles "The commitment to fairness and equality in the workplace for everyone was from the heart and also a clear message to everyone working for her and those supporting her brand that this behavior will not be tolerated by Paula Deen Enterprises going forward."

Lyles, a personal friend of Deen's for about four years, says she has always shown love and compassion for her fellow man, and has made financial decisions that have not always been in her best interest.

As Deen became a household name, he said she had many opportunities to drop smaller companies that were supporting her and switch to larger companies that could benefit her more financially. But Lyles said Deen instead chose to stay with them.

"She wanted the people that supported her to grow with her," Lyles said.

Related: Paula Deen fans lash out against Wal-Mart

Perhaps one of Deen's most ardent supporters is Julie Goodman Cook, a sales consultant who oversees the Paula Deen cruise for Alice Travel. Cook's unwavering support was on full display as she explained how generous and giving Deen has been.

Cook said, while on the Deen themed cruise, the chef auctioned off personal items such as clothing worn while on TV as well as serving dishes, artwork and other items from her home. The auction raised almost $80,000 for Deen's Bag Lady Foundation which supports women and families in need.

Cook said the support she has seen from Deen's fans of all races has been overwhelming. "My phone has not stopped ringing," said Cook. "The emails haven't stopped, Facebook is going crazy and they are all positive comments from her fans."

First Published: June 28, 2013: 3:16 PM ET

19.33 | 0 komentar | Read More

Big winners on Wall Street are yesterday's dogs

Click for more market data.

NEW YORK (CNNMoney)

First Solar was the best performing stock among the S&P 500, gaining more than 65% over the past three months.

It's a remarkable rebound for the leading maker of solar panels, which saw its stock fall 12% in the first quarter.

First Solar (FSLR) wowed investors in April with a surprisingly bullish outlook for the year. The stock shot up 43% in one day, after First Solar said it expected profits to be 28% above previous forecasts this year on healthy sales growth.

The solar industry has been in a slump as low-cost imports from China have depressed prices. But solar panel prices have stabilized and First Solar said demand is ramping up.

First Solar wasn't the only underdog to make a comeback.

J.C. Penney (JCP, Fortune 500) shares gained more than 12% during the quarter, recovering about half of their first quarter losses.

The retailer ousted CEO Ron Johnson in April, after his controversial turnaround plan failed to show results. J.C. Penney publicly apologized for the changes, and ran an ad on its YouTube channel that practically begged customers to come back.

Related: Top hedge fund manager bets on a return to normal markets

In business for more than 100 years, J.C. Penney has been swimming in red ink as it struggles to compete with online retailers. But the company has been strengthening its finances in an effort to mount another turnaround. It scored a $1.75 billion loan from Goldman Sachs (GS, Fortune 500) in April.

Other top performers in the quarter include popular momentum stocks, such as GameStop (GME, Fortune 500), Micron Technology (MU, Fortune 500) and Best Buy (BBY, Fortune 500).

Best Buy has also been on a turnaround kick, cutting costs and closing under performing stores. Investors have welcomed the moves, sending shares up 26% in the quarter, despite a disappointing sales report in May.

It was also a good quarter for health insurance companies. Shares of Aetna (AET, Fortune 500), WellPoint (WLP, Fortune 500) and Humana (HUM, Fortune 500) all rose by more than 23%.

Golden parachute? Mining companies were among the worst performers in the quarter as prices of precious and non-precious metals plunged.

Shares of Alpha Natural Resources (ANR, Fortune 500) and Newmont Mining (NEM, Fortune 500) fell more than 30%. Iron Mountain (IRM) and Freeport McMoRan (FCX, Fortune 500) also suffered double-digit losses.

Investors have been dumping mining stocks as gold prices plunge.

Related: Gold plunges to two-year low

The precious metal is down 25% this quarter, falling below $1,200 an ounce this week for the first time since August 2010. The largest gold-backed ETF, the SPDR Gold Shares Trust (GLD), lost nearly 24% during the past three months.

While the sell-off in gold has caught the most headlines, mining stocks have also been hurt by the falling price of copper.

Copper prices plunged nearly 12% in the second quarter as demand from China slowed and supplies increased.

A number of energy companies were also hit hard.

Marathon Petroleum (MPC, Fortune 500) shares are down more than 20% for the quarter, after gaining 42% in the first quarter. The company has been playing catch-up on the boom in domestic energy production, and is exposed to a slowdown in emerging market demand.

Peabody Energy (BTU, Fortune 500), which specializes in coal mining, and gas station operator Valero (VLO, Fortune 500) were also big losers in the quarter.

First Published: June 28, 2013: 12:44 PM ET

21.29 | 0 komentar | Read More

Starbucks' caffeine-fueled expansion

A cup of joe from the Starbucks coffee shop in Beijing's Forbidden City.

(Money Magazine)

It's a remarkable turnaround for a firm that just five years ago had to bring back former CEO Howard Schultz after overexpansion and error-filled forays beyond coffee -- ranging from breakfast foods to music -- eroded customer patience. After righting the ship, management is again embarking on another major expansion. But at what cost?

Venti valuations

After more than quadrupling in the past four years, the stock is foamy.

	Projected P/E ratios
Starbucks	27.1
Restaurant stocks	21.2
S&P 500	15.2

Notes: Price/earnings ratios are based on projected profits. Sources: Bloomberg, Morningstar

Strong brew

"Say 'Starbucks' to the average American, and they'll not only think of coffee, but good coffee," says David Ricci, co-manager of William Blair Large Cap Growth, which owns the stock. The same can now be said for global consumers.

Starbucks (SBUX, Fortune 500) is the world's only premium coffee superpower, and its basic business -- selling expensive cups of joe and even pricier espresso drinks through nearly 18,900 stores worldwide -- is as robust as its earthy Sumatra roast.

Related: Starbucks hikes prices

Even with a recession in Europe, global same-store sales still rose 6%. Revenues should climb 11.5% this year, vs. 7% growth for Dunkin' Brands (DNKN) (parent of Dunkin' Donuts).

And SBUX will save more than a quarter-billion dollars in coffee costs in the next two years because of falling bean prices.

Caffeinated costs

Starbucks is growing all over. The company plans to build 600 more cafés in the U.S. this year and another 1,000 stores in China by the end of 2015. It bought Teavana, Evolution Fresh, and La Boulange for $750 million to move more into teas, juices, and baked goods.

The roaster is also making a big push into the at-home market through K-cup sales and its new Verismo brewing system.

Related: Starbucks starts paying U.K. tax

"One concern is, Are you doing too much?" says Bill McVail, analyst at Turner Global Opportunities Fund, which owns the stock.

The reason the firm had to go back to Schultz was it tried -- and failed at -- brand extension via ice creams and even a music label. While croissants and coffee pods are closer to the core business, a misstep could dim Wall Street's starry eyes.

Steamy valuations

Starbucks is poised for years of growth, but it's also "a company with a valuation that is just too expensive for us," says Regina Lombardi, co-manager of BBH Global Core Select. The stock's price/earnings ratio is nearly double the S&P 500's, so you have to pay to jump on this caffeine-fueled bandwagon.

That said, even after boosting spending, Starbucks has $1.7 billion in cash, 10 times Dunkin's stash. Management is also likely to boost dividends in line with strong earnings growth, says Ashley Woodruff, an analyst at the T. Rowe Price Blue Chip Growth Fund, which owns the stock. "Starbucks is able to pay shareholders and still invest in the businesses it wants," she says.

Think: a splash of income to go with rich growth.

First Published: June 28, 2013: 4:42 PM ET

21.29 | 0 komentar | Read More

Paula Deen's business partners vow to support her

NEW YORK (CNNMoney)

Walmart (WMT, Fortune 500), Target (TGT, Fortune 500), Home Depot (HD, Fortune 500), Sears (SHLD, Fortune 500), JC Penney (JCP, Fortune 500) and Caesars (CZR, Fortune 500) have recently ended their deals with Deen while drugmaker Novo Nordisk (NVO) and home shopping channel QVC have suspended their dealings with the embattled celebrity chef.

On Friday, President Jimmy Carter, whose Atlanta-based Carter Foundation is hosting a human rights forum this weekend, weighed in on the issue.

"She was maybe excessively honest in saying that she had in the past, 30 years ago, used this terrible word," Carter told CNN's Suzanne Malveaux.

Carter, while not condoning Deen's racial slurs, said she's been punished enough and that he advised her to get the people she's helping to speak up.

Several of her business partners are doing just that, speaking up and pledging to stand by her. Many have issued letters of support for Deen.

Sandridge Food Corporation, a fresh foods manufacturer that produces deli salads, soups, entrees, desserts, sauces and dips, released a statement Wednesday announcing its unwavering support for Deen.

"Paula is a very caring person who has spent the majority of her life helping the less privileged and giving back," said CEO Mark Sandridge. "As an organization, we believe she and her team are on the right track and we look forward to continuing to work together."

Related: Paula Deen business shaken by controversy

Sandridge says he knows Deen personally and asserts the woman portrayed in the media is not the woman he knows.

"The woman that I know is a very giving person; I do not believe she's a racist whatsoever," said Sandridge. "We know where she comes from and she is genuinely about equality for all."

Kevin Lyles, President and Chief Operating Officer of Club Marketing Services -- which helps companies sell to Wal-Mart and Sam's Club -- affirmed his support for Deen.

"Her apology for the past, I believe came from the heart," said Lyles "The commitment to fairness and equality in the workplace for everyone was from the heart and also a clear message to everyone working for her and those supporting her brand that this behavior will not be tolerated by Paula Deen Enterprises going forward."

Lyles, a personal friend of Deen's for about four years, says she has always shown love and compassion for her fellow man, and has made financial decisions that have not always been in her best interest.

As Deen became a household name, he said she had many opportunities to drop smaller companies that were supporting her and switch to larger companies that could benefit her more financially. But Lyles said Deen instead chose to stay with them.

"She wanted the people that supported her to grow with her," Lyles said.

Related: Paula Deen fans lash out against Wal-Mart

Perhaps one of Deen's most ardent supporters is Julie Goodman Cook, a sales consultant who oversees the Paula Deen cruise for Alice Travel. Cook's unwavering support was on full display as she explained how generous and giving Deen has been.

Cook said, while on the Deen themed cruise, the chef auctioned off personal items such as clothing worn while on TV as well as serving dishes, artwork and other items from her home. The auction raised almost $80,000 for Deen's Bag Lady Foundation which supports women and families in need.

Cook said the support she has seen from Deen's fans of all races has been overwhelming. "My phone has not stopped ringing," said Cook. "The emails haven't stopped, Facebook is going crazy and they are all positive comments from her fans."

First Published: June 28, 2013: 3:16 PM ET

21.29 | 0 komentar | Read More

Edie Windsor is owed $638,000 plus interest

Edith Windsor's lawyers say their client is due about $70,000 in interest alone after winning her landmark case.

NEW YORK (CNNMoney)

But to Edith Windsor, the plaintiff who brought the case, the landmark ruling also means she will finally get back the $638,000 in estate tax payments she had to make to the IRS and to New York State after her spouse -- Thea Spyer -- died in 2009.

Normally, surviving spouses are entitled to inherit the estate of their late husband or wife tax free.

But because DOMA only recognized marriage between a man and a woman as legitimate for the purposes of federal law, same-sex spouses have not been entitled to the same privilege.

Related: Ruling is 'a huge relief' for couples

As a result, Windsor had to pay the federal government roughly $363,000, as well as $275,000 to New York state, where estate tax rules track the federal ones.

That money has been in limbo since Windsor sued to get it back in November 2010. Her case first went before a federal trial court judge in New York, then to the Second Circuit U.S. Court of Appeals, and finally to the U.S. Supreme Court.

Windsor will also be paid interest on her refunds. Paul, Weiss, the law firm that represents her, estimates she will receive about $45,000 in interest on her federal refund and $25,000 on her New York State refund.

The other good news for the 83-year-old Windsor? Her lawyers won't be getting a cut because Paul, Weiss took the case pro bono.

Exactly when she'll receive her checks isn't clear yet, although the law firm says it expects it will be in a "reasonable amount of time."

First Published: June 28, 2013: 9:14 AM ET

21.29 | 0 komentar | Read More

Fed officials in damage control mode

Jeremy Stein is the latest Fed official to try to calm markets after Chairman Ben Bernanke's comments on stimulus last week.

NEW YORK (CNNMoney)

Jeremy Stein, a Federal Reserve Board Governor, noted Friday that investors may have overreacted after Fed Chairman Ben Bernanke said the central bank may start slowing its stimulus program later this year.

Initially, stocks fell and bond yields rose following Bernanke's press conference last Wednesday. Since then, the 30-year mortgage rate spiked from 3.9% to nearly 4.5% -- its biggest one-week gain in 26 years.

Related: Scary times hit mortgage shoppers

But Stein urged the public not to read too much into the volatility.

Consumers and businesses "should take care not to over-interpret these movements," he said in prepared remarks. "We have attempted in recent weeks to provide more clarity about the nature of our policy reaction function, but I view the fundamentals of our underlying policy stance as broadly unchanged."

The comments echo speeches this week by other Fed officials, who have said that the Fed's controversial stimulus program could continue at full blast if economic growth doesn't live up to their expectations.

Ultimately, the policy depends on the economic data, not a calendar date, they've said.

Also Friday morning, Richmond Fed President Jeffrey Lacker said it wasn't "too surprising" when stocks and bonds both fell sharply in response to Bernanke's press conference last week. "Volatility is a normal part of the process," he added.

Lacker has largely been a critic of stimulus, but even he joined his colleagues in hammering home one key point: Investors should not confuse slower stimulus with a tightening in monetary policy.

"The Federal Reserve is not only leaving the punch bowl in place, we're continuing to spike the punch, though at a decreasing rate over the next year," he said.

The Fed's current stimulus program marks the third round of so-called quantitative easing, or QE3 for short, and entails buying $85 billion in Treasuries and mortgage-backed securities each month. The key question is: When will the Fed start to reduce the pace of those purchases each month, and when will it end the program completely?

Last week, Bernanke said the Fed is considering tapering the program "later this year" and could bring it to an end in mid-2014, should the unemployment rate fall to roughly 7% over that time frame.

In his remarks Friday, Stein laid out September as a hypothetical time frame for tapering the program.

San Francisco Fed President John Williams will cap off the talkative week for the central bank, delivering remarks Friday afternoon.

First Published: June 28, 2013: 8:18 AM ET

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Rocky start to last day of the quarter

NEW YORK (CNNMoney)

The Dow, the S&P 500, and the Nasdaq dropped between 0.3% and 0.4% in early Friday trading on renewed worries that the Federal Reserve could soon scale back its bond massive bond buying program.

Fed officials have been in damage control mode lately about the end of so-called quantitative easing.

But in trying to allay investor fears, Fed governor Jeremy Stein might have inadvertently stoked them. In a speech Friday morning, he said that the Fed could consider tapering its bond buying in September.

Fed chairman Ben Bernanke kicked off tumult in the stock, bond and gold markets last week. He said the central bank could wind down its stimulus program later this year, if the economy continues to improve.

Related: Fed officials in damage control mode

The mere mention of any end to bond buying sent bond investors scrambling for the exits. The yield on the 10-year Treasury note hit 2.65% earlier this week -- its highest level since August 2011 and well above the 1.6% in early May. On Friday, 10-year yields hovered around 2.53%

Gold prices have been slammed as well. On Friday, gold dropped more than 1%, after falling more than 13% this month.

While June has been negative for investors, stocks are on track to end the quarter up 3%. Year-to-date, stocks are up 12% to 15%.

Related: Fear & Greed Index nudges up to fear

Embattled mobile company Blackberry (BBRY) reported first-quarter results Friday that fell short of analysts' forecasts. Shares tumbled more than 25%.

Nike (NKE, Fortune 500) shares edged lower in early trading. Despite better-than-expected earnings, analysts worry about Nike's ability to cut costs.

Shares of outsourcing and consulting firm Accenture (ACN) were lower after it cut expectations for its year-end results.

Shares of Pfizer (PFE, Fortune 500) edged higher after the drug maker announced late Thursday that it would increased its share buyback program by $10 billion.

European markets dropped in afternoon trading, while Asian markets ended in positive territory.

The benchmark Nikkei boomed on positive economic data out of Japan, adding 3.5%. The Shanghai Composite increased 1.5% and the Hang Seng closed 1.8% higher.

First Published: June 28, 2013: 9:45 AM ET

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Stocks rally at the open

NEW YORK (CNNMoney)

The Dow Jones industrial average rose 110 points, or 0.7%. The S&P 500 and Nasdaq both added 0.6%.

The latest data suggest the U.S. economy is on track for modest growth.

The Labor Department said Initial claims for unemployment benefits fell 9,000 to 346,000 in the week ended June 22.

Separately, Americans' personal income rose 0.5% in May, while spending increased 0.3%, according to the Commerce Department.

Investors have been taking their cues from U.S. economic data as they attempt to gauge when the Federal Reserve will begin to slow the pace of its bond buying program.

Fed officials have kept investors on their toes recently and two top central bank officials are scheduled to speak later Thursday, including New York Fed president William Dudley.

U.S. stocks rose sharply Wednesday as investors bet that a weak GDP reading would keep the Federal Reserve's stimulus going.

In corporate news, ConAgra Foods (CAG, Fortune 500) shares rose after the company said it swung to a profit in is fiscal fourth quarter. Shares of KB Home (KBH) were also higher after the homebuilder said losses narrowed in the second quarter.

Accenture (ACN) and Nike (NKE, Fortune 500) will release results after the market close.

Related: Fear & Greed Index dwelling in fear

European markets were mixed in morning trading, with London's FTSE 100 heading up while the CAC 40 in Paris was pulling back. The benchmark French index rallied by more than 2% Wednesday.

Asian markets ended mixed. Japan's Nikkei gained almost 3% in a banner day. China stocks were more subdued, with the Hang Seng closing up 0.5% and the Shanghai Composite declining 0.1%.

Australia's ASX All Ordinaries index shot up by nearly 2% Thursday as Kevin Rudd returned as prime minister, three years after being replaced in the office by his then-deputy Julia Gillard.

Investors are hoping this changing of the guards will result in more tax concessions for miners, said Mike van Dulken, head of research at Accendo Markets.

First Published: June 27, 2013: 9:44 AM ET

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Mortgage rates soar to 4.46% - biggest jump in 26 years

NEW YORK (CNNMoney)

Rates on 30-year, fixed-rate home loans spiked 0.53 percentage points to an average of 4.46% this week -- the largest weekly increase in more than 26 years, according to mortgage giant Freddie Mac.

The 30-year loan, which stood at 3.35% as recently as early May, is at its highest level since July 2011.

Rates for 15-year loans, popular with homeowners refinancing their mortgages, jumped 0.46 percentage points to 3.5%.

An extra percentage point will cost homebuyers with 30-year, fixed-rate mortgages $56 more a month for every $100,000 they borrow.

Related: Best advice now for homebuyers and sellers

"If sustained, the rate increase will take some of the steam out of the housing market," said Mark Zandi, chief economist at Moody's Analytics.

The sudden jump in rates is driven by uncertainty over whether the Federal Reserve's economic stimulus program, called quantitative easing, will continue, according to Keith Gumbinger of HSH.com, a mortgage information provider.

"The aftermath of the Fed meeting and Mr. Bernanke's remarks ... about the future of QE continue to roil markets," Gumbinger said.

"Even though the chairman spoke about tapering QE over what will likely be an extended period of time -- through mid-2014 at least -- bond market participants headed for the exits," he added.

Related: Quiz: How much do you know about mortgages?

The recent rate rise might not be enough to discourage most buyers.

"Rates are still reasonable," said Zandi. "Going from 3.5% to 4.5% is not helpful, but it's not enough to make a big difference."

First Published: June 27, 2013: 10:22 AM ET

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Fed official: Tapering this year is no sure thing

Federal Reserve Bank of New York President William Dudley.

NEW YORK (CNNMoney)

The Federal Reserve's controversial stimulus program could continue at full blast if the job market doesn't keep improving, a key Fed official said Thursday.

"If labor market conditions and the economy's growth momentum were to be less favorable than in the FOMC's outlook -- and this is what has happened in recent years -- I would expect that the asset purchases would continue at a higher pace for longer," said Federal Reserve Bank of New York President William Dudley.

Last week, Fed Chairman Ben Bernanke surprised investors when he said that the central bank expects to start slowing its stimulus program later this year.

That program, which marks the third round of so-called quantitative easing, or QE3 for short, currently entails buying $85 billion in Treasuries and mortgage-backed securities each month, an effort to lower long-term interest rates.

Bernanke said that the policy would probably come to a complete end in mid 2014, should the unemployment rate fall to around 7%.

The news initially sent stocks falling and bond yields rising, but now Bernanke's colleagues seem to be trying to tame the market's tapering expectations.

Dudley cautioned Thursday that the policy "depends on the outlook rather than the calendar."

The scenario laid out by Bernanke was only one possible outcome, Dudley said. "Economic circumstances could diverge significantly from the FOMC's expectations," he added.

Even Dallas Fed President Richard Fisher, who has largely been a critic of QE3, chimed in earlier this week with similar comments, stressing that the wind-down process will be gradual and cautious. The markets may have overreacted, he said.

"I don't want to go from Wild Turkey to 'cold turkey' overnight," Fisher told the Financial Times.

Related: 2014: When the economy finally takes off

St. Louis Fed President James Bullard has been an even louder critic, and officially dissented against the Fed's policy statement last week, noting that Bernanke should never have laid out mid-2014 as an approximate timeline for the end of QE.

The Fed's decisions should be based on economic data, "not calendar objectives," Bullard said in a statement Friday.

Though Dudley was cautioning against pulling back stimulus too soon, he does think the economy is improving.

"I see persuasive evidence of improved underlying fundamentals for much of the private sector of the U.S. economy," he said. "I believe a strong case can be made that the pace of growth will pick up notably in 2014."

First Published: June 27, 2013: 10:05 AM ET

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U.S. economy looks weaker, as GDP data is revised

The U.S. economy grew at a mere 1.8% annual pace in the first quarter, according to revised data released by the Commerce Department on Wednesday.

NEW YORK (CNNMoney)

Gross domestic product -- the broadest measure of economic activity -- rose at a mere 1.8% annual pace between January and March, marking a sharp downward revision from the 2.4% pace reported by the Commerce Department last month.

The government revises its GDP figures several times, but economists weren't expecting such a dramatic change from the third estimate.

"This was certainly unexpected and, I believe, rare," said Jennifer Lee, senior economist with BMO Capital Markets, referring to the revision.

The weaker figures came primarily from revisions to consumer spending, exports and commercial real estate.

Consumer spending, which alone accounts for roughly two-thirds of the GDP measure, rose at a 2.6% annualized pace in the first quarter, according to the revisions. That's down from the 3.4% pace the Commerce Department estimated in its prior report.

Meanwhile, spending on nonresidential buildings shrunk 8.3% in the first quarter, offsetting some of the economic boost from the ongoing housing recovery.

U.S. exports to other countries contracted, and government spending cuts continued to be the largest drag on economic growth.

Economists have already turned their attention to studying how the economy fared in the spring. Their estimates point to more of the same slow growth.

Goldman Sachs (GS, Fortune 500), Barclays (BCS), Nomura (NMR) and Macroeconomic Advisers economists estimate that the economy grew at a 1.5% to 1.9% annual pace between April and June.

The numbers could change again next month. The Commerce Department is planning a complete overhaul of its GDP data, going back to 1929. That process, which is known as the "comprehensive revision," only happens every four to six years.

First Published: June 26, 2013: 8:51 AM ET

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Layoffs hit Sesame Street

Layoffs are coming to Sesame Street.

NEW YORK (CNNMoney)

The group's statement on Wednesday said the layoffs were necessary to "strategically focus our resources" because of "today's rapidly changing digital environment."

The layoffs will not affect any of the performers known to the audience.

The group is a nonprofit organization. According to its financial statements, its total revenue in the fiscal year that ended in June 2012 was down 15%. Its operating loss more than doubled to $24.3 million.

The group's statement said "We remain optimistic about our future."

Related: Thanks Mitt - Big Bird costumes sell out

In fiscal 2012, the group received $46.2 million from licensing revenue from toys and other products based on its characters such as Elmo and Big Bird. It also received $33.8 million from royalties and fees, and $33.8 million in program support from corporate and foundation donations and the government.

Sesame Street first aired in 1969 and now appears in more than 150 countries.

First Published: June 26, 2013: 10:18 AM ET

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Stocks rally after weak GDP

Click the chart for more stock market data.

NEW YORK (CNNMoney)

U.S. stocks rose sharply Wednesday as investors bet the weak GDP reading would keep the Fed's stimulus going.

The Dow Jones industrial average jumped more than 100 points, or 0.8%. The S&P 500 and Nasdaq gained 0.7%.

Markets have been volatility lately, driven largely by fears that the Federal Reserve could begin to ease its stimulus measures by the end of the year.

But those fears took a backseat following the Commerce Department's worse-than-expected report on first-quarter gross domestic product, which showed the economy grew just 1.8% during the first quarter. The prior estimate showed an annual increase of 2.4%, and economists were expecting that figure to hold.

Click here for more on stocks, bonds, commodities and currencies

"There is a clear disconnect from what the Fed is reviewing and Main Street is living," said Todd Schoenberger, managing partner at LandColt Capital, in a client note. "The pathetic part of it all is Wall Street will see this as good news as stocks will most likely rally on hopes of an extended period for more bond buying."

Related: The Fed may kill bank stocks

Gold slumps: Gold prices fell more than 4% to to a 34-month low of $1,223.20 an ounce, before trimming some of those losses.

Gold has been dragged down by the market rout accompanying Fed chairman Ben Bernanke's comments about potentially pulling back on bond buying later this year.

Gold mining companies Randgold Resources (GOLD) and Barrick Gold (ABX)fell 4% in early trading. The SPDR Gold Shares Trust (GLD) ETF fell 3%.

Related: Fear & Greed Index continues to show extreme greed

In corporate news, shares of Smith & Wesson (SWHC) declined even after the gunmaker issued earnings and sales guidance well above forecasts.

General Mills (GIS, Fortune 500) slipped after the food company reported earnings in line with forecasts but a weak guidance for the year.

Shares of Apollo Group (APOL), which owns for-profit University of Phoenix, slid after the company reporting disappointing quarterly profits.

Monsanto (MON, Fortune 500) reported better-than-expected earnings and reiterated its outlook, but shares turned lower. Bed Bath & Beyond (BBBY, Fortune 500) will report after the markets close.

Pandora (P) shares gained ground after analysts at Cowen and Co. upgraded the company's shares to outperform.

European markets were gaining traction in afternoon trading, led by the CAC 40 in Paris, which rose nearly 2%.

Asian markets ended with mixed results. The Shanghai Composite index dipped by 0.4%. Hong Kong's Hang Seng rebounded throughout the day, closing with a nearly 2.5% gain. The Nikkei in Japan ended with a 1% loss.

First Published: June 26, 2013: 9:57 AM ET

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Men's Wearhouse: Why we fired Zimmer

The Men's Wearhouse board of directors said it fired founder George Zimmer for his power-hungry pursuits to take the company private.

NEW YORK (CNNMoney)

"Mr. Zimmer reversed his long-standing position against taking the company private by arguing for a sale of the Men's Wearhouse to an investment group," the company's board of directors wrote Tuesday in a statement it made public.

But the board said it opposed the move, which would force the company "to take on a huge amount of debt."

"The board believes such a transaction would not be in the best interests of our shareholders, and it would be a risky path on many levels," the directors wrote.

The board also emphasized that Zimmer's 3.6% stake in the company did not give him a controlling role.

Related: Megadeth's Mustaine rips Men's Wearhouse

"Mr. Zimmer had difficulty accepting the fact that Men's Wearhouse is a public company with an independent board of directors and that he has not been the chief executive officer for two years," said the board.

The board added that Zimmer "refused to support" Chief Executive Doug Ewert and other executives "unless they acquiesced to his demands." The board also said he "expected veto power over significant corporate decisions."

Men's Wearhouse (MW) rose 2.6% in premarket trading on Tuesday.

Related: Men's Wearhouse fires 'I guarantee it' guy

The board terminated Zimmer, who co-founded the company in 1973, as executive chairman on June 19. He then quit the board on Monday.

Zimmer, known for his advertising tag line "I guarantee it," was not immediately available for comment. Though he did release a letter on Monday explaining that board, in its termination, was avoiding his "growing concerns" about the company.

Hundreds of shoppers expressed outrage for the firing last week on Facebook (FB).

First Published: June 25, 2013: 9:17 AM ET

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Home prices jump 12%

Increases in home prices have been accelerating steadily over the last year.

NEW YORK (CNNMoney)

The S&P/Case-Shiller home price index was up 12.1% in April, compared to a year ago, in the 20 top real estate markets across the nation. That was the biggest annual jump in prices in seven years. Prices climbed 2.5% from March, posting the biggest one-month rise in the 12-year history of the index.

A drop in foreclosures, coupled with a tight supply of homes for sale and mortgage rates that hit record lows, have fueled the rebound in prices over the last 11 months.

But the 30-year mortgage rate has risen to nearly 4%, up from 3.35% at the start of May. While that is still low by historical standards, it's trimmed about $12,000 off of an average buyer's purchasing power. Mortgage rates began to climb in May, after April's sharp jump in home prices was recorded.

"Home value appreciation in some of these areas will have to slow down, or potentially fall, as higher prices are no longer masked by rock-bottom mortgage rates," said Stan Humphries, chief economist of home price tracker Zillow.

Related: Surging home sales, prices raise new housing bubble fears

Indeed, the rapid rise in home prices that's fueling the housing recovery could actually help derail it, as it makes purchases more difficult for potential buyers. Even the National Association of Realtors warned last week that "home price growth is too fast," and said that the market needs significantly more home building and better access to credit for buyers.

"In general, the national housing recovery is strong and sustainable, but pockets of volatility will emerge," said Humphries. "Buyers expecting home values to continue rising at this pace indefinitely may be in for a shock."

Related: Is a neighbor hurting your home's value?

The government will issue a report on new home sales later Tuesday morning, and economists surveyed by Briefing.com expect to see another rise in the pace of new home sales.

First Published: June 25, 2013: 9:24 AM ET

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Stocks rally on housing report

Click for more market data.

NEW YORK (CNNMoney)

The Dow Jones industrial average, the S&P 500 and the Nasdaq all gained about 0.5% in early trading.

After suffering heavy losses in the past few days, investors were encourage to dip back into stocks after a string of upbeat economic reports Thursday.

The S&P/Case-Shiller home price index was up 12.1% in April compared to a year ago for the 20 top real estate markets across the nation. It was the biggest annual jump in prices in seven years and the 2.5% jump from March was the biggest one-month rise in the 12-year history of the index.

In more good news for housing, homebuilder Lennar Corp. (LEN) reported sales and earnings that topped forecasts. CEO Stuart Miller said Lennar's results "point to a solid housing recovery." New orders rose 27% in the quarter. Lennar shares were up nearly 4% on the news, while rival homebuilders PulteGroup (PHA), Toll Brothers (TOL) and DR Horton (DHI) were also higher.

A report on durable goods came in better than expected. The Census Bureau said new orders for big-ticket items rose 3.6% in May. Economists had forecast a 3% rise, according to Briefing.com.

New home sales also topped estimates, rising 2% in May to a seasonally adjusted rate of 476,000 units, the Commerce Department said.

Meanwhile, a measure of consumer confidence rose to the highest level since January 2008. The Conference Board's index of consumer confidence for June hit 81.4, up from 74.3 in May. Consumers have been encouraged by improvement in the job market, the business research group said.

The markets are coming off a sell-off Monday, driven by continued uncertainty about China and when the Federal Reserve will ease its stimulus. The double whammy of uncertainty has caused volatility to spike.

So far this month, the CBOE Market Volatility Index (VIX) has risen 25%. And CNNMoney's Fear & Greed Index is deep in extreme fear.

The markets have been taking their cue this week from China, where stocks have tumbled on concerns about tighter credit conditions.

Related: China: Don't worry! It's not 2008

But comments attributed to a People's Bank of China official helped ease some jitters. The official reportedly said the bank will keep interest rates in check, and that seasonal forces that have driven them higher recently will fade.

Following his comments, the Shanghai Composite, which was down as much as 5.6%, recovered to close just 0.2% lower.

Related: Stock sell-off is 'taper tantrum'

Still, the ups and downs have analysts worried.

"Volatility is very pronounced," Carter Worth, chief market technician at Oppenheimer, told CNNMoney in an interview. Earlier he sent around an amusing note that simply said "We have no new thoughts. Sell."

"If this kind of volatility is taking place, there is a change in the wind. That doesn't mean we are going to see a bear market or a crash, but upside is limited and downside is unknown, but very real," he told CNNMoney.

Related: Bonds in the bargain bin

On the corporate front, shares of Walgreen (WAG, Fortune 500) sank more than 6% after the drugstore chain missed earnings and revenue forecasts.

Barnes & Noble (BKS, Fortune 500) shares plunged after the bookseller said it will stop making the NOOK in-house and will partner with a third party to manufacture the eReading device. Sales in the NOOK segment fell 34% in the quarter to $108 million.

Carnival (CCL) said earnings fell 55% to 9 cents per share in the second quarter. The beleaguered cruise ship operator warned in May that earnings would suffer this year due to price cuts following the Carnival Triumph mishap. But Carnival's stock rose since earnings were better than expected.

Gunmaker Smith & Wesson (SWHC) will release fourth-quarter results after the market closes.

European markets were making significant gains in morning trading after taking a big fall Monday. Germany's DAX index took the lead, rising by just over 1.5%.

Asian markets ended with mixed results after a volatile day. Hong Kong's Hang Seng dropped in early trading, but wound up closing with a 0.2% gain. Japan's Nikkei ended with a 0.7% loss.

First Published: June 25, 2013: 9:41 AM ET

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Controversial T-shirt destroys business

The company behind an offensive t-shirt controversy earlier this year has shut down and let go its remaining employees.

NEW YORK (CNNMoney)

Fierce public backlash brought down Solid Gold Bomb, which made headlines in March for offering shirts that said "Keep Calm and Rape a Lot." The company closed its doors last week and let go its remaining three employees.

Company founder Michael Fowler is now swimming in debt and he says he's still getting death threats, including one caller who hounded him for months insisting on meeting him in person.

"It's my fault, and I paid dearly," Fowler said. "My life's work. Twenty years I've been building this up."

Related: The story behind the 'Carry On and Rape Her' shirts

The downfall is the result of an Internet uproar that occurred in March, when someone browsing Amazon's marketplace discovered shirts with messages of misogyny and murder. The shirts were parodies of the old British slogan "Keep Calm and Carry On."

Amazon (AMZN, Fortune 500) immediately pulled down all of Fowler's products, choking off his company's main avenue for sales.

At the time, Fowler issued an apology and explained that the shirts never really existed. The images of offensive shirts were the result of a computer program that automatically generated random phrases and images.

Fowler had used the program to expand his company catalog from 1,000 designs to more than 10 million, casual shirts with pithy one-liners like, "I mustache you a question." The vast number of shirts for sale rocketed him to the top of Amazon searches. By printing on demand, he reduced the risk of unsold inventory.

The apology fell short. Fowler was flooded with spiteful emails. Orders plummeted from 400 a day to 100. It didn't get much better when Amazon finally let him back online three weeks later, Fowler said, because it erased his online history, hurting his search rankings.

Fowler, an American who lives with his wife and three children in Melbourne, Australia, stopped paying himself a salary. He was forced to fire half of his employees -- an art director, print master and customer service representative. He injected $35,000 of his own money into the company.

"I certainly didn't give up. I didn't throw in the towel. I tried," Fowler said.

The company was so financially weak that when it ran into shipping problems this month, the entire operation collapsed. Fowler notified his operations manager and two employees by phone, thanking them for sticking around. He said he couldn't afford the $4,000 plane ticket to see them and deliver the news in person.

Related: Best places to launch

Cristy McCullough, his operations manager in Massachusetts, is helping sell off what's left of the company: computers, shipping equipment, phone systems and shirt printing machines. The idea is to split the proceeds between those who remained. So far they've raised a few thousand dollars. Fowler expects to owe $125,000 to his shipping partner and clothing supplier.

"I'll be paying this for a long time," he said.

But he isn't done running a small business. Fowler has already set up another dye house, and he's vowed to start printing T-shirts again -- this time with a friend in Melbourne.

"I've got to do something. I've got three kids and my wife isn't employed," he said. "Hey, I'm an entrepreneur. I'm already on the hustle trying to build it again."

First Published: June 24, 2013: 8:22 AM ET

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Stocks slammed by China and Fed

Click the chart for more stock market data.

NEW YORK (CNNMoney)

The Dow Jones industrial average tumbled more than 200 points, or 1.7%, while the S&P 500 and Nasdaq sank more than 1.8%.

Fears about China pushed the CBOE Market Volatility Index (VIX) up above 21 to the highest level of the year. The CNNMoney Fear & Greed Index dropped further into Extreme Fear, clocking in at the lowest level since June 2012.

European markets were also deep in the red.

Click here for more on stocks, bond, commodities and currencies

Credit crunch in China? The People's Bank of China told the country's largest banks Monday to rein in risky loans and improve their balance sheets, a warning that sent a jolt through already unsettled equity markets.

The Shanghai Composite index was hardest hit by the announcement, registering a decline of 5.3%. The Hang Seng in Hong Kong lost nearly 3%. Japan's Nikkei index declined by 1.3%.

The sell-off comes after short-term borrowing costs skyrocketed last week in China, leading to a credit crunch. The rate at which Chinese banks lend to each other overnight hit, which serves as a measure of liquidity in the financial market, hit a record high above 13% last week before moderating. Another key measure of cash in the banking system -- the 7-day "repo rate" -- peaked at 25%.

Investors are worried that less liquidity in the world's second-largest economy could further slow the shaky global recovery.

Commodities get dinged: Commodities were under pressure amid worries about a slowdown in global economic growth. Copper prices sank nearly 3%, while gold and silver continued to decline.

Oil prices were also falling. Both crude oil and Brent crude prices dropped to a three-week lows.

Related: Brazilian stocks among world's worst performers

Fed worries persist, bond yields shoot higher: Last week's comments from Federal Reserve chairman Ben Bernanke sparked a rush out of bonds. Fresh concerns about China intensified that sell-off Monday.

As investors dumped bonds, yields continued to rise, with the yield on the 10-year Treasury note hitting 2.65% early Monday. That's its highest since August 2011.

Bernanke said at a news conference last week that the central bank could slow the pace of its bond-buying program later this year if the economy continues to improve.

The Fed's stimulus program has been a major driver of the bull market, and worries over its longevity are likely to generate market volatility in the months ahead.

All three major U.S. stock market indexes ended roughly 2% lower last week, as investors were spooked by Bernanke's comments.

Despite the recent selling, stocks are still way up for the year. The Dow, S&P 500 and Nasdaq have gained between 9% and 11% since the start of January.

Stocks on the move: Shares of Vanguard Health Systems (VHS, Fortune 500) surged almost 70% after inking a $1.8 billion acquisition deal with Tenet Healthcare Corp. (THC, Fortune 500)

First Published: June 24, 2013: 9:41 AM ET

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Start the countdown! Twinkies return to shelves July 15

Twinkies will return to store shelves on July 15.

NEW YORK (CNNMoney)

The announcement was made by Daren Metropoulos, principal of Metropoulos & Co., one of the two companies that bought the rights to Twinkies and other snack brands from the bankrupt Hostess Brands earlier this year.

The new Twinkies box will look very similar to the old one, with the addition of the line "The sweetest comeback in the history of ever." The price will stay the same as last fall when Hostess shut down - $3.99 for a box of 10. Other products will also come back with the same pricing.

"America wanted Hostess back -- they wanted the original," said Metropoulos.

The new company will sell all of the Hostess and Dolly Madison branded snack products, including CupCakes, Donettes, Zingers, Ho Hos, Ding Dongs, fruit pies and mini muffins. Some products, such as Sno Balls, will take a little longer to return to shelves, but they should be available within the next few months.

Other Hostess brands, including Wonder Bread and Drake's snack cakes, have been sold to other firms. Details of their return have yet to be announced.

Related: The Devil Dog is in the details

Wonder Bread, Twinkies and other Hostess products have not been produced since November, when Hostess Brands Inc. filed with the bankruptcy court to liquidate its 82-year old business following a crippling strike by the Bakery Workers union.

But while that company is out of business, and most of its 18,500 employees have lost their jobs, a bankruptcy court has been overseeing an auction of its various brands as part of the liquidation process.

Related: Making Hostess cakes at home

The new snack company, Hostess Brands LLC, was purchased for $410 million by private equity groups Apollo Group (APOL) and Metropoulos & Co. It also bought five of the closed bakeries as part of their bid. It will produce the products out of four of the bakeries -- in Columbus, Ga., Emporia, Kansas, Indianapolis and the Chicago suburb of Schiller Park, Ill. It plans to have about 1,800 employees making the snacks within the next three months.

Metropoulos' other food holdings include Pabst Blue Ribbon beer. In the past it has owned Chef Boyardee canned pasta, Bumble Bee seafood, PAM cooking spray and Gulden's Mustard, all of which it eventually sold to ConAgra Foods Inc (CAG, Fortune 500).

--CNN's Polina Fishof contributed to this report

First Published: June 24, 2013: 7:33 AM ET

22.03 | 0 komentar | Read More

Next week you'll pay more for a Starbucks latte

Starbucks, next Tuesday, is raising U.S. prices by an average of 1% for its brewed drinks to help offset an increase in business costs.

NEW YORK (CNNMoney)

The price hike will affect beverages including Starbucks' (SBUX, Fortune 500) brewed coffee, tea, latte and espresso drinks, said spokesman Jim Olson. While drink prices vary from city to city, Olson said that customers in some markets could pay about 10 cents more for a tall brewed coffee.

Still, less than one-third of all Starbucks beverages will be affected by the new prices, he added.

For instance, prices will not increase at a vast majority of Starbucks stores for its venti and grande-sized brewed coffees, or for its Frappuccino drinks.

This is the first price hike in nearly two years for the coffee chain, according to Olson, who said the rising cost of labor, raw materials and rent triggered the move.

Still, there is one way that customers can always shave a few cents off their coffee tab: Starbucks offers a 10 cent discount on any drink when customers bring in a personal tumbler or use a reuseable Starbucks cup.

First Published: June 21, 2013: 5:01 PM ET

21.29 | 0 komentar | Read More

LeBron will never be an endorsement star like Jordan

NEW YORK (CNNMoney)

He may be a great basketball player, but endorsement experts say that off the court, he's still no Michael Jordan.

James has $39 million in annual endorsements, more than any other active athlete, according to the Fortunate 50 rankings compiled by Sports Illustrated and Fortune magazines. But Michael Jordan is still bringing in a whopping $80 million in endorsement deals a year - even though he hasn't set foot on a court in a decade.

Many fans simply don't like James. He was heavily criticized when he moved to the Miami Heat as a free agent in 2010, and his popularity plunged according to various surveys.

Related: Heat's winning streak sparks sales rush

"That was the first time we saw such a precipitous drop in appeal without something criminal happening," said Henry Shafer, executive vice president of the Q Scores Company, which conducts one such survey.

James' likability is on par with that of Mickey Rourke and rocker Gene Simmons of KISS - which isn't great company - according to a competing survey by the Celebrity DBI index.

"It certainly doesn't hurt that [James] has won two championships in a row. But it's going to be really hard for him to match what Jordan delivered on camera and how he resonated with fans," said Darin David, director of the sports consulting group at The Marketing Arm, which arranges deals between advertisers and and celebrities.

Related: Under Armour's crew of star athletes

David and others experts say that pitchmen like Jordan and Peyton Manning have a special on-screen persona that most athletes will never have, no matter how many championship titles they might accumulate.

Both Jordan and James have deals with Nike (NKE, Fortune 500), which pays out billions in endorsement deals to athletes around the world. James also has deals with top consumer companies like Coca-Cola (KO, Fortune 500), McDonald's (MCD, Fortune 500) and Samsung. But commercials starring James get relatively limited air time, even during the NBA playoffs.

Related: Coming out could boost Jason Collins' endorsements

Shafer, from the Q Scores Company, said that while James has started to slowly win back sports fans, he hasn't made a lot of progress with the general public.

"It's not just about winning. It's about how you interact with the public," he said.

First Published: June 21, 2013: 4:28 PM ET

21.29 | 0 komentar | Read More

Pending law would block Tesla sales in New York

Elon Musk and Tesla are battling dealership associations throughout the country for the right to sell vehicles directly to customers.

NEW YORK (CNNMoney)

Tesla said in a statement Friday that if the bill passes, it will be "put out of business in New York," with all employees in the state losing their jobs.

"The bottom line for New York consumers and New York suppliers is that if this bill passes, special interests in Albany will once again have gotten their way while robbing New Yorkers of choices in the marketplace," Tesla (TSLA) said.

The current legislative session was originally scheduled to conclude on Thursday, but work continued in both the Senate and Assembly on Friday, and it is unclear when it will end.

Related: Tesla unveils 90-second battery-pack swap

CEO Elon Musk took to Twitter Friday as legislators were considering the bill, urging New Yorkers to call their representatives and ask them to vote it down.

The New York State Automobile Dealers Association did not respond to a request for comment, though the association is also urging supporters to contact their representatives, saying the pending bill is "designed to maintain the health and vitality of New York's retail automobile industry."

Tesla has tangled with dealership associations in a number of states in its effort to sell its Model S electric sedan directly to consumers rather than using franchised car dealers.

General Motors (GM, Fortune 500), Ford (F, Fortune 500), Toyota (TM) and others don't sell cars to customers. They sell to independently owned and operated dealers or distributors who, in turn, sell them to the public, usually after some negotiation over the final price.

Tesla's showrooms, by contrast, are owned and operated by the company. Most are in shopping malls, with only enough cars on hand for display and test drives. Every Tesla car sells at full sticker price, and service on the cars is performed at separate garages owned by Tesla.

Auto sales are mostly regulated at the state level. In some states, Tesla has had little or no problem opening its stores. In others, auto dealers and their allies in government have resisted Tesla's plans, fearing they could ultimately undermine the system of franchised dealers.

Earlier this month, legislators in Texas failed to vote on a bill backed by Tesla that would have loosened the state's restriction on dealerships owned by automakers. Virginia rejected the electric-car maker's dealership application earlier this year.

Dealers argue that the traditional franchise system is best for car buyers because it preserves competition between dealerships selling the same products.

But Tesla worries that traditional franchised dealers, who also have gasoline cars to sell, won't represent its products properly or aggressively enough. Dealers pressed to make quick sales will likely be tempted to steer customers to gasoline cars rather than explain the benefits of the Model S, Diarmuid O'Connell, Tesla's vice president for business development, told CNNMoney last month.

"From the beginning, Tesla's goal has been to catalyze the market for electric vehicles, and selling through intermediaries at this stage of the company will not work," Tesla said Friday.

First Published: June 21, 2013: 6:31 PM ET

21.29 | 0 komentar | Read More

Next week you'll pay more for a Starbucks latte

Starbucks, next Tuesday, is raising U.S. prices by an average of 1% for its brewed drinks to help offset an increase in business costs.

NEW YORK (CNNMoney)

The price hike will affect beverages including Starbucks' (SBUX, Fortune 500) brewed coffee, tea, latte and espresso drinks, said spokesman Jim Olson. While drink prices vary from city to city, Olson said that customers in some markets could pay about 10 cents more for a tall brewed coffee.

Still, less than one-third of all Starbucks beverages will be affected by the new prices, he added.

For instance, prices will not increase at a vast majority of Starbucks stores for its venti and grande-sized brewed coffees, or for its Frappuccino drinks.

This is the first price hike in nearly two years for the coffee chain, according to Olson, who said the rising cost of labor, raw materials and rent triggered the move.

Still, there is one way that customers can always shave a few cents off their coffee tab: Starbucks offers a 10 cent discount on any drink when customers bring in a personal tumbler or use a reuseable Starbucks cup.

First Published: June 21, 2013: 5:01 PM ET

21.29 | 0 komentar | Read More

LeBron will never be an endorsement star like Jordan

NEW YORK (CNNMoney)

He may be a great basketball player, but endorsement experts say that off the court, he's still no Michael Jordan.

James has $39 million in annual endorsements, more than any other active athlete, according to the Fortunate 50 rankings compiled by Sports Illustrated and Fortune magazines. But Michael Jordan is still bringing in a whopping $80 million in endorsement deals a year - even though he hasn't set foot on a court in a decade.

Many fans simply don't like James. He was heavily criticized when he moved to the Miami Heat as a free agent in 2010, and his popularity plunged according to various surveys.

Related: Heat's winning streak sparks sales rush

"That was the first time we saw such a precipitous drop in appeal without something criminal happening," said Henry Shafer, executive vice president of the Q Scores Company, which conducts one such survey.

James' likability is on par with that of Mickey Rourke and rocker Gene Simmons of KISS - which isn't great company - according to a competing survey by the Celebrity DBI index.

"It certainly doesn't hurt that [James] has won two championships in a row. But it's going to be really hard for him to match what Jordan delivered on camera and how he resonated with fans," said Darin David, director of the sports consulting group at The Marketing Arm, which arranges deals between advertisers and and celebrities.

Related: Under Armour's crew of star athletes

David and others experts say that pitchmen like Jordan and Peyton Manning have a special on-screen persona that most athletes will never have, no matter how many championship titles they might accumulate.

Both Jordan and James have deals with Nike (NKE, Fortune 500), which pays out billions in endorsement deals to athletes around the world. James also has deals with top consumer companies like Coca-Cola (KO, Fortune 500), McDonald's (MCD, Fortune 500) and Samsung. But commercials starring James get relatively limited air time, even during the NBA playoffs.

Related: Coming out could boost Jason Collins' endorsements

Shafer, from the Q Scores Company, said that while James has started to slowly win back sports fans, he hasn't made a lot of progress with the general public.

"It's not just about winning. It's about how you interact with the public," he said.

First Published: June 21, 2013: 4:28 PM ET

21.29 | 0 komentar | Read More