McDonald's moves on Ackman chatter, Google's slide continues, energy stocks recharge

Jeff Macke

Google (GOOG) is not taking part in any bounce activity today. Shares are down more than 1.5% and making a new 52-week low. It's been a tough year for the stock which is off almost 10%. Chalk up some of that to a money drift into shares of Apple (AAPL) but longer term investors are getting a little antsy about all those R&D projects that have yet to pay off in a big way. For good measure, J.P. Morgan (JPM) cut its price target on the shares today to $600 down from $670.

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McDonald's (MCD) is seeing some unusual action. The stock spiked higher by over 2%, before pulling back a bit, on above average volume. Investors are reacting to market and Twitter (TWTR) chatter that activist investor, Pershing Square Capital Management's Bill Ackman, may be targeting the fast food giant. He tried this before back in 2005. If the Ackman speculation turns out to be accurate, he would be joining another activist, Jana Partners. The firm disclosed a stake in Mickey D's in November. The Dow (^DJI) member has dropped over 7% this year as more customers eat elsewhere all around the globe.

And finally as my Dad used to say even a blind pig finds the occasional truffle. The Energy Select Sector SPDR ETF (XLE) is bouncing higher today after a cruel few weeks.  It's only up 1.5% but after a 20% drop in the last three months even sideways looks like a rally for these stocks. Through that lens today's action looks like the start of a glorious comeback. We'll see.

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