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Published on June 7th, 2012 | by Randomguru

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Live Blogging the Stock Market on CNBC: Cloud Computing Edition

11:15am – Good Morning, everyone!

11:23am – Groupon’s stock has been down over 40% since it’s November IPO. Netflix stock, of course, has been plummeting since July 2011, and has been struggling ever since. From a stock price of $300+ to $64 is pretty dismal.

11:25am – CNBC says good things about Starbucks (NASDAQ:SBUX), up in the green today. They say the purchase of La Boulange Bakery was a great buy and will pay off well into the future. Starbucks is a very well-run company.

Cloud Computing Stocks

The Motley Fool lists stocks related to cloud computing.

Is it a good idea to invest in cloud computing companies?

Fusion-IO, Inc. (NYSE:FIO) could be a good investment and Steve Wozniak’s pet project. Flash drive technology could be the future of cloud computing solutions.

Fusion-io Inc (Fusion) is a provider of data-centric computing solutions: a combination of hardware and software that places data closer to processing. Fusion’s family of NAND flash-based ioMemory technologies offer a solution that scales to meet the needs of information technology (IT) administrators and partners and allows them to re-imagine how data centers can be architected.

Google (NASDAQ:GOOG) of course, has been offering cloud computing solutions to users for years, and now competes with other cloud computing companies with Google Drive.

Amazon (NASDAQ:AMZN) is another great company that is forging ahead into the future with cloud computing services for its customers.

Is there any cloud computing companies I may have missed? I’m sure I have. Please leave a comment and let me know…

Street Signs

Came in late on Street Signs, so I’m just going to finish up the hour.

11:39am – Today CNBC has been doing a special report called “Around The World in 60 Stocks”.

11:46am – Stay Away Stocks…

Zynga (NASDAQ:ZNGA) tumbled to $6.16 a share.
Dell (NASDAQ:DELL) is down 22%, sad.
Monsanto (NYSE:MON) will feel the affects of China’s slowdown.
Research In Motion Limited (USA)(NASDAQ:RIMM) has slid down to $10.72 a share, another sad one.

11:54am – Jim Cramer is in da house!

All-American Picks

Clorox (NYSE:CLX)
Costco (NASDAQ:COST)
Eaton (NYSE:ETN)
Apple (NASDAQ:AAPL)
Sears Holding (NASDAQ:SHLD)

Closing Bell

12:02pm – It’s shaping up to be another good day for the bulls. The DOW up 108 points.

Ben Bernanke “sat on his hands” today. The bulls would’ve liked more from Bernanke today. CNBC did “live coverage” of Ben Bernanke’s testimony earlier today in front of the congressional panel.

12:06pm – The DOW is having the best 3-day win since November 30, 2011.

12:16pm – CNBC discusses NASDAQ’s $40 million fund and Facebook’s compensation plan. CME’s CEO Terrance Duffy is interviewed by Maria.

Oops… the market is sliding a bit in the final hour.

US SMALL/MIDCAPS-Materials rally after China rate cut

12:25pm – CNBC ridiculing Facebook stock, commenting that it looks like the Greek market, and it’s an insult to Greece right now. “Do you want to buy a social network from a guy in a hoodie and flip flops? The answer, is no”. LOL harsh.

Facebook stock continues to “lose ground” and may set new lows.

12:31pm – More talk about the so-called “Fiscal Cliff”, which Ben Bernanke warns about.

Greek politicians fighting on Greek TV… punching and slapping… you can’t make this stuff up!

12:39pm – NASDAQ is now negative and the market has lost much of today’s gains… bummer!

12:45pm – More discussions ahead about China’s slowdown, the “fiscal cliff”, etc…

12:48pm – Within the final 10 minutes, the S&P 500 goes negative. NASDAQ down 14.59 pts. DOW up only 34.51 pts. Couldn’t hold on to most of today’s gains.

12:55pm – I’m out. Have a good day, everyone.

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