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Ticker Shock: No Deal for Dow Chemical; Barron's Hearts Hewlett-Packard


Monday's top stories and stocks with potential to move.


I ran into one of my old college buddies recently and we ended up talking about our plans for New Year's Eve. He, being single and having no kids, has a big night planned - dinner at a nice restaurant followed by a couple of clubs. When he asked what I was going to do, he had a good chuckle. My wife and I are taking the kids to see The Tale Of Despereaux before dining at McDonald's - their all-time favorite place to eat.

My, how times have changed.

Getting down to business, Asian markets rose as we slept. The Hang Seng was up just over 1% and the Nikkei closed in positive territory. Meanwhile, European markets were showing some green this morning. And here in the US we're currently trading slightly higher.

Dow Chemical (DOW)
And here I was thinking there wouldn't be a lot of news over the weekend because of the holidays. But, according to Reuters, "Kuwait decided on Sunday to scrap a deal to form a $17.4 billion petrochemical joint venture with Dow Chemical, potentially upsetting the largest US chemical company's plans to buy rival Rohm & Haas."

Although I consider Dow Chemical a good longer-term play, I'm concerned about the timing of the news. In other words, it could be used as a last-minute excuse to book a tax loss. Keep in mind that shares are trading toward the lower end of their 52-week range.

As far as the Rohm & Haas (ROH) deal is concerned, Dow could now find itself in a bit of a pickle - it seems there's a termination fee of $750 million. And here's betting Rohm has a tough day today.

I'm steering clear for now.

Cal-Maine (CALM)
Earlier this morning, the Mississippi-based egg producer disseminated its second-quarter results. They were far from eggsellent.

Lame, I know, but it's Monday - cut me some slack.

Moving right along, the company posted $1.14 per share - well below the $1.69 per share it achieved in the comparable period last year.

I don't care which came first -- the chicken or the egg -- I'm not getting involved in the stock given these lackluster results.

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No positions in stocks mentioned.

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