• Goldman Sachs (NYSE:GS) added Cytec Industries (NYSE:CYT) to its Conviction Sell List, with a target of $31.  The analyst warned of the bleak outlook for the late-cycle aerospace industry, and economic uncertainties in Europe, which represents 40% of sales

• JP Morgan (NYSE:JPM) plans to reinstate 401K matching programs starting with 2009 as well as plans to hire 1,200 mortgage officers

• Yahoo (NASDAQ:YHOO) CEO Bartz said the company is hiring again as the firm expects to increase its operating profit margin to the 15-20% range on cost cutting and sales growth

• Adobe Systems (NASDAQ:ADBE) said it plans to cut 680 jobs, or about 9% of its workforce, as part of a restructuring plan.  The company said the move would result in pre-tax charges of $65 million to $71 million, with $18 million to $20 million to be taken in the fourth quarter

• Monsanto (NYSE:MON) confirmed its full-year 2010 earnings outlook

...

• JP Morgan (NYSE:JPM) upgraded General Electric (NYSE:GE) to "overweight" from "neutral," and lifted its price target to $17, on relative valuation measures

• AIG (NYSE:AIG) was downgraded to "underperform" at Credit Suisse (NYSE:CS), with its price target lowered to $15 from $30, and 2009 estimate cut to a $13.98 loss, with 2010 initiated at an estimate of $5.70

• Smithfield Foods (NYSE:SFD) reported a fiscal first quarter loss of 56 cents a share, three cent under expectations versus last year's 17 cent loss, on revenues of $2.7 billion, off estimates of $2.8 billion

• Kraft (NYSE:KFT) advised its will continue to pursue its unsolicited offer for Cadbury (NYSE:CBY), after Cadbury rejected the firm's $16.7 billion cash and stock bid

• Airbus turned positive, projecting an air passenger volume rebound. In 2009 passenger volume is estimated to drop 2%, in 2010 to climb 4.6%, and in 2011 to soar 7%

• Goldman Sachs (NYSE:GS) upgraded

...

It's a relatively quiet week on the earnings front with only 50 companies scheduled to report, including a smattering of retailers and food companies. Only 2 S&P 500 members are on tap to report including Campbell Soup Co. (CPB) and National Semiconductor (NSM).

The economic calendar is also quiet to start the first "real" trading week in September, as Wall Street comes back from August vacations. It's a shortened trading week due to the Labor Day holiday on Monday.

Monday: Markets closed for Labor Day Tuesday: ICSC-Goldman Store Sales, Redbook Wednesday: Beige Book Thursday: International trade, weekly jobless claims, weekly natural gas inventories, weekly crude inventories Friday: Import and export prices, University of Michigan consumer sentiment survey for September, Treasury budget Volume is likely to return to more "normal" levels to start the week. Despite recent weakness in the markets, the bulls remain in charge. Wall Street will also be watching trading

...

* Adobe Systems (NASDAQ:ADBE) is scheduled to report fiscal second quarter earnings after the market closes, with analysts anticipating results of 35 cents versus 50 cents a year ago

* General Motors (NASDAQ:GMGMQ) announced a preliminary agreement to sell its Saab unit to Koenigsegg, a local sports car manufacturer

* Capital One Financial (NYSE:COF) reported US credit card write-offs increased almost one percent in May

* Microsoft (NASDAQ:MSFT) shares rose on reports that its new search engine, Bing, outperforms rival Google's (NASDAQ:GOOG) product

* Smithfield Foods (NYSE:SFD) reported a fiscal fourth quarter loss of 55 cents a share on revenues of $2.85 billion

* JP Morgan (NYSE:JPM) upgraded Magna International (NYSE:MGA) and Tenneco (NYSE:TEN) to "overweight" from "neutral"

* Goldman Sachs (NYSE:GS) initiated coverage of Cummins (NYSE:CMI) with a "buy" rating and a price target of $42

Zacks Investment Research

Even with the hype of a possible flu pandemic, the markets managed to remain positive through the week. Mexico will take the lead as we make the next critical move next week.

As a guy that has spent way too much time in rough water, I absolutely detest the clichéd phrase “a perfect storm,” but when it is apt I cannot help but use it. So here goes. This week has been a perfect storm for Mexican investors.  It physically hurt to write that sentence.

As if a bloody and growing drug war was not enough, Mother Nature threw Mexico a deadly flu outbreak and a 6.0 earthquake earlier this week. It was enough to force investors to flee back across the border.

Hard hit were the country’s pig producers like Smithfield Foods (NYSE:SFD), its cement makers like Cemex (NYSE:CX) and of course, its airports like Pacific Airport

...

Aspire Misery Index for the Week Ended February 20, 2009

February 21, 2009 ndash; Another dismal week in the books, with the broader markets selling off again amidst mounting concerns that Washington may be in over its head in trying to stem the negative influences on the economy and doubts about whether the stimulus plan will do the trick. It is increasingly looking like nationalization of at some banks may be on tap. The White House insists this is not the case ndash; but it may not have a choice.

The DJIA fell 479.96 this week, or 6.1%. On the year to date, the DJIA is down 1,406.58, or 16%. With expectations that unemployment is going to keep rising, companies reigning in the cash reserves and shelving any plans for expansion and growth, and no indication that the credit markets are loosening up, a second half turnaround looks all but unlikely. …

We  are in the worst economy since the Great Depression with investment banks and bond insurers disappearing, auto dealers suffering, etc.  At a time when the economy stinks and employment is falling and costs are rising, CEOs and board members are selling stock and getting rich.  It is just plain BS.

Track CEO sales at:

http://trackthepros.com/stocks/category/661

SELLERS:

COMPANY NAME INSIDERS NAME TITLE $ VALUE NO. OF SHARES IN TRANS. RANGE OF VALUES TRANSACTIONS DATES J Crew Group J. Coulter D $66,900,000 2,000,000 33.45 Sept. 19, 2008 Vulcan Materials D. James CEO 12,475,740 150,000 79.90-84.90 Sept. 18-19, 2008 Simon Property Group D. Bloom MC 10,002,000...

Track Insider sales at:

http://trackthepros.com/stocks/category/37

SELLERS:

COMPANY NAME INSIDERS NAME TITLE $ VALUE NO. OF SHARES IN TRANS. RANGE OF VALUES TRANSACTIONS DATES Alexander’s S. Roth CEO $39,477,500 100,000 394.78 Sept. 15, 2008 Smithfield Foods J. Luter D 8,291,754 406,900 20.10-20.38 Sept. 16-17, 2008 Consolidated Edison E. Mcgrath D 6,693,000 150,000 44.62 Sept. 16, 2008 CF Industries Holdings D. Barnard GC 3,282,137 27,350 120.01 Sept. 17, 2008 Energy East F. Mcclain O 2,965,855 104,065 28.50 Sept. 16, ...

Since I don't want to make the blog a place of constant sour news I'm always on the look out for slivers of good news.... we've been talking for a long time about the weakness in discretionary spending and just hit recently on the troubles of those (normal folk) who buy normal boats for normal fun [Jun 30: Listen to the Companies, Not the Government Reports - Brunswick Corp (BC) and Smithfield Foods (SFD)] However, there is always a bull market somewhere! Such as the nuevo rich [Jun 27: Global Millionaires - the Shift from West to East] and the booming market for super yachts. Our global gilded age continues - the gap between rich and middle class will widen. (poor - non starter unfortunately - falling farther and farther behind). I look forward from writing this blog from my super yacht ...

One of the themes the fund is currently investing in is the secular agricultural boom as people in developing economies upgrade their food quality, as their incomes grow. Thus far, I have been focused mostly on the fertilizer companies, although the equipment and seed plays have also done great. However, in the past few days I have read multiple articles on a new ETF which, if you want to play this trend in 1 fell swoop, provides an interesting (and global) way to diversify across multiple subtrends on this play. The ETF is called Market Vectors Agribusiness (MOO) … yes MOO. How cute. Here is a fact sheet about the ETF.