• Boeing (NYSE:BA) announced it will take a third quarter charge of $1 billion due to higher production costs and difficult market conditions for its 747-8 program. The firm will also delay, until 2010, the initial flight of its 747-8 jumbo freighter

• Microsoft (NASDAQ:MSFT) released its new mobile-phone software to take on Apple's (NASDAQ:AAPL) iPhone

• Amazon.com (NYSE:AMZN) announced the company will begin selling an international version of its e-reader in over 100 countries. The firm also lowered the price of

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• Ruby Tuesday (NYSE:RT) reported fourth quarter earnings of 28 cents per share, besting analysts' estimates of 19 cents, on revenues of $317.3 million, ahead of estimates of $303.95 million. The company expects fiscal 2010 earnings of 50-65 cents versus estimates of 55 cents, and sees same-store-sales declining 2.5-3.5%

• Amgen (NASDAQ:AMGN) reported the successful completion of a Phase 3 trial of its bone drug for the treatment of bone metastases in advanced breast cancer patients

• Goldman Sachs (NYSE:GS) upgraded Kohl's (NYSE:KSS), saying the firm is best positioned department store to show positive comparable sales in its fourth quarter

• BJs Wholesale Club (NYSE:BJ) received a downgrade from Goldman Sachs (NYSE:GS) on concerns consumers may shift from bargain hunting to more discretionary retailers

• Google (NASDAQ:GOOG) is planning the launch of a full operating system as it extends its Chrome browser, beginning with an introduction on netbooks in the second half of 2010.

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New Bull Market? Lock in those Gains…

by Investment U Research Team

We haven’t talked about selling stocks at a gain for quite some time. And we all know the reason why – there haven’t been many to talk about. But that doesn’t mean that there aren’t any. In fact, the markets have been up over the last week. 

For many who have become comfortable with their bear market portfolio, prepare to be unnerved.

The companies many investors have used as defensive plays have performed very well – compared to the rest of the market. But that doesn’t mean that these stocks will continue to move that way. If we have a new bull, things will change. And fast.

Traders like to use the word “overbought” to describe when, in their opinion, a stock has risen too fast or is overextended. Any company can become

...

Companies highlighted in this weekly wrap include Tetra Tech, Inc. (...

As I write this on Friday morning, we are continuing to await a final decision on the proposed bailout of financial firms. The final outcome will impact market direction.

I would expect a short-term relief rally if the proposal is passed and signed. Failure to reach an agreement, however, could result in stocks setting new lows for the year.

Third-quarter earnings season will not "officially" start until Oct 7, when Alcoa (AA) reports. Nonetheless, 21 companies are confirmed to report during the week of Sep 29 - Oct 3. Among these are S&P 500 members Constellation Brands (STZ), Family Dollar (FDO), Marriott International (MAR), Micron Technology (MU), Pepsi Bottling Group (PBG) and Walgreen (WAG).

September employment data will be released on Friday, capping a busy week for economic data. Monday: August personal income and spending Tuesday: Conference Board September consumer confidence survey, September Chicago PMI Wednesday:

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