Thursday Morning Coffee with TradingMarkets

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Best Buy to Sell iPhone ... Not So Fast in Buying Banks, Says Merrill ... Has the AUD/USD Rout Run its Course? ... Genentech Says No to $44 Billion Bid ... Does the Dollar Rally Anticipate Deflation?

If your stock trading could use a boost, then treat yourself to a free, 7-day trial to our Short Term PowerRatings. The highest rated Short Term PowerRatings stocks have outperformed the average stock by a margin of nearly 17 to 1 after five days. Click here to start your free trial today!

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

• Nvidia (NVDA | Quote | Chart | News | PowerRating) gained more than 10% on word that the company was increasing the size of its share buyback program.
  
  
• Alcoa (AA | Quote | Chart | News | PowerRating) was the big gainer among the Dow industrials on Wednesday, gaining more than 3%.
  
  
• CVS Caremark (CVS | Quote | Chart | News | PowerRating) announced that it was acquiring rival drug store Longs Drug Stores Corporation (LDG | Quote | Chart | News | PowerRating) for $2.7 billion.
  
  
• In further merger and acquisitions news, Genentech Inc. (DNA | Quote | Chart | News | PowerRating) rejected a bid of more than $43.7 billion from majority shareholder, Roche Holding AG, but remained open to further negotiations.
  
  
• Best Buy (BBY | Quote | Chart | News | PowerRating) announced that it would begin selling the iPhone by Apple (AAPL | Quote | Chart | News | PowerRating) in all of its stores in September.
  
  

For a list of today's highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

TradingMarkets Making Great Traders

Day Trading Monster Stocks - TradingMarkets
Buying the strong stocks and selling the weak ones is as true for day traders as it is for end of day traders. TradingMarkets Select Contributor Sam Patterson explains how and why.

How Far Will the EUR, GBP and AUD Sell Off? - TradingMarkets
TradingMarkets Select Contributor Chris Capre talks about the rally in the U.S. dollar - from the perspective of the global currencies losing value against it in recent weeks.

7 ETFs You Need to Know for Today - TradingMarkets
Stocks rallied off their intraday lows in a session characterized by repeated bouts of aggressive selling. Today's 7 ETFs includes the Select Materials Sector SPDRs, XLB, which finished the day up more than 2%

TradingMarkets 5 Business Stories You Need to Know

iPhone Best Buy at Best Buy - BusinessWeek
The deal through which Best Buy, the country's largest electronics retailer, will sell Apple's iPhone provides a tremendous boost to Best Buy at the expense of rivals such as Radio Shack.

Best Buy is the Featured Stock in our Up or Down Stock Contest. You have until 4 p.m. EST today to tell us whether you think Best Buy will be Up or Down on Friday. Click here to play our TradingMarkets Up or Down Stock Contest for your chance to win $1,000 a month by correctly guessing the direction of a stock!

Merrill Warns Bank Bulls - Times Online
Merrill Lynch suggested today that investors should exercise more caution before loading up on the shares of beaten-down financial institutions.

AUD/USD: Down So Long ... - DailyFX
DailyFX quantitative analyst David Rodriguez looks at the odds of further declines in the Australian dollar versus the American greenback in the wake of the Aussie's massive recent declines.

Genentech Rejects Roche Bid - Wall Street Journal
While remaining open to further negotiations, biotechnology firm Genentech said that the near $44 billion dollar offer for the company from its largest shareholder Roche is too low.

Revenge of the Commodities - MarketWatch
Todd Harrison, founder and CEO of Minyanville, dares to utter the "D word" - deflation - in providing a cautionary tale for those who think that falling commodities prices and a rising dollar are necessarily positive signs for the economy.

For more stories as they happen, go to our Breaking News section.

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