Oil has proven anything but predictable, and the drama continues. The CME Group broke up an early week oil recovery as it raised oil futures margins by 25 percent -- $1,250 per contract -- as of the close of business Tuesday.
The roll of M&A continues Tuesday with reports that Microsoft is close to buying Skype in an $8.5 billion deal, helping investors shake off worries about a new Greek bailout, or possibly worse, a lack thereof. China was in focus also after it reported its monthly trade surplus grew for the second month in a row, although some are saying the rebound may be more an indication of deceleration of the Chinese economy than growing world demand, CNNMoney reports.
FROM THE BLOGS:
What Makes a Good Oversold Reading -- Capital Observer
GS: $100B Rout in Commodities "Only Temporary" -- The Big Picture
STOCKS TO WATCH:
* Microsoft (MSFT) will buy Internet phone network Skype in an $8.5 billion deal.
* Disney (DIS) will report earnings today after the closing bell. The company is expected to report fiscal 2Q earnings of 57 cents a share.
UPGRADES & DOWNGRADES:
* Tyson Foods (TSN) has been downgraded to underperform from buy at BofA/Merrill.
* Saks (SKS) has been upgraded to neutral from sell at Goldman.
* Cisco (CSCO) has been initiated with a buy at BGC Financial.
* No Silver Lining in Petroleum Prices - Barrons.com
* LinkedIn and Freescale Join Surge of I.P.O.'s — NYTimes
* Where to invest in a post-crisis world — MarketWatch
* Why Berkshire and Buffett never lose — MarketWatch
* Dodd-Frank Dissenters Sound Off — NYTimes
Compiled by Elizabeth Trotta and Rebecca Stropoli.
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