Two Ways to Play: Google and Disney Heading to China
Strengthen your portfolio in good times and bad.
Just a month after threatening to completely pull out of China, Google (GOOG) now might partner with Disney (DIS) for a stake in China's largest in-bus digital media and advertising company, Bus Online.
According to the Canadian newspaper The Globe and Mail, the consortium, led by Disney, wants a 30% to 40% stake in Bus Online through a purchase of old and new shares to be issued in a private placement. The transaction is said to be valued at more than $100 million USD.
One source said Disney's intention is to not just be a financial investor, but a strategic partner in China's growing markets. A Google spokesperson declined to comment.
From the Bull Pen: Thinking the correction in the tech sector is over? After all, it did seem like the classic bullish "escalator up, elevator down" pattern. For those still unsure, consider the diversified tech ETF (XLK); a sell stop can be set below the November low ($20.50).
From the Bear Cave: In tech, bears can keep an eye on Qualcomm (QCOM). An inability to quickly recover from the recent weakness could signal further downside ahead. For those playing the short side, consider setting a buy stop 2% above entry or near $39 to $40 depending on your risk profile.
For more ways to play and other trading ideas from more than 30 top market pros, take a free trial to our Buzz & Banter.
A Quick Check Around the World
Asian trading closed with the Nikkei -1.05%, India 0.13%, Hang Seng -0.58%, Shanghai -0.14%, and Taiwan 0.04%.
Across the pond, we see the FTSE -0.10%, CAC 0.17%, DAX 0.30%,
As of 8:22 AM EST, S&P Futures are trading +2.20 to 1061.75. Nasdaq futures are +2.50 to 1747.50.
A Look at Commodities
Over in commodities, crude oil is +0.20 to 71.38 while gold is +12.30 to 1065.40 this morning. Silver is +0.160 to 15.000 and copper +0.0135 to 2.8715.
The dollar Index is -0.1250 to 80.4700.
No economic events scheduled today but click here for this week's full trading radar.
Who Dat Saints fans! Congratulation to the city of New Orleans! Good luck today.
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