On this day in economic and financial history ...

AT&T was first incorporated as the American Telephone and Telegraph Company on March 3, 1885. At first, it was a subsidiary of American Bell and was tasked with the construction and operation of the nation's first long-distance telephone network. AT&T proved so successful at this task that it soon eclipsed its corporate parent in importance. AT&T became the heart of the Bell System when it acquired American Bell's assets in 1899. By this point its long-distance lines, originating in New York, were already well established in Chicago and were building gradually toward a transcontinental network that could link New York with California, and all points in between.

AT&T became a transcontinental telephone monopoly in 1915 with the completion of the first call between New York City and San Francisco. Though thousands of local telecom competitors had sprung up between AT&T's buyout of American Bell and its completion of the transcontinental lines, none could match Ma Bell's reach, and it continued to be the dominant operator for decades. AT&T became part of the 20-component Dow Jones Industrial Average a year after inaugurating transcontinental telephony. It was removed in 1928, a year after becoming the first telecom to offer trans-Atlantic telephone service between the United States and the British Isles, but it was reinstated in 1939 and has remained ever since.

Between 1939 and 1984 (the year of its antitrust divestiture), AT&T became one of the largest and best-recognized companies in the United States. Telephone service reached 50% of the country in 1945 and rose to 90% in 1969. AT&T controlled nearly all of this service, thanks in part to what was essentially a government-endorsed monopoly allowed as a result of the Department of Justice's failed antitrust suit of 1956. The consent decree that followed AT&T's antitrust victory gave it largely free rein over American telephone service but barred it from participating in the nascent computer industry, clearing the way for fellow Dow component and onetime tech competitor IBM to become a dominant force in computing.

Another antitrust effort (the third of AT&T's lifetime) proved successful in 1983, breaking Ma Bell into multiple regional operators. The AT&T you now know was once SBC Communications, which began as the regional Bell in Texas, Missouri, Kansas, Illinois, Oklahoma, and Arkansas. It acquired the original AT&T in 2005 and adopted its name and branding shortly afterward.

The once and future king (of beers)
Interbrew and AmBev announced their intent to merge on March 3, 2004, in a deal that would see the combined company leapfrog global beer leader Anheuser-Busch to become the world's largest brewer by volume. The end result of the merger was a company with roughly $12.5 billion in annual sales and a 14% share of the global beer industry, spanning 140 countries. In 20 of these countries, including six of the seven fastest-growing markets, the new company would be the largest or second-largest brewer.

Four years later, InBev made an offer Anheuser-Busch couldn't refuse to become Anheuser-Busch InBev in 2009, by far the world's largest brewer. This newly enhanced company produced roughly 20% of the world's beer a year after its merger was completed.

So that's what the H-S-B-C stands for
The Hongkong and Shanghai Banking Company opened the doors of its first branch on March 3, 1865, in Hong Kong. Founded by Scotsman Thomas Sutherland shortly after the Opium War, the bank quickly became a prominent British-led bank in the Far East, opening a Shanghai branch a month later and a branch in Japan a year after that. For more than a century, Hongkong and Shanghai grew throughout Asia, which was only briefly interrupted by the Japanese during World War II. The bank developed a truly global presence in the postwar period by opening or acquiring branches in the United States, the Middle East, India, Canada, Australia, and Britain.

In 1991, these divergent banks reorganized under the umbrella of holding company HSBC , which is now headquartered in London. This banking titan was the world's second-largest bank in 2012, its $2.55 trillion in assets trailing only the holdings of Germany's Deutsche Bank.

HP was an early adopter once
Hewlett -Packard became only the ninth dot-com domain name holder in history on March 3, 1986, when it registered hp.com. The only older domain names still used for their original purpose are Xerox's xerox.com and SRI International's sri.com, both of which were registered less than two months earlier. HP's domain name was then the first two-letter domain name ever registered, at a time when commercial Internet service providers did not yet exist. Fewer than 10,000 networks were accessible at the time, whereas millions upon millions of networks now operate around the world. HP's domain registration was a rare example of forward thinking at minimal cost. Unfortunately, most business decisions are a great deal more difficult.

The massive wave of mobile computing has done much to unseat the major players in the PC market, including venerable technology names like Hewlett-Packard. However, HP's rapidly shifting its strategy under the new leadership of CEO Meg Whitman. But does this make HP one of the least-appreciated turnaround stories on the market, or is this a minor blip on its road to irrelevance? The Motley Fool's technology analyst details exactly what investors need to know about HP in our new premium research report. Just click here now to get your copy today.

The article Origin Stories of 3 of the World's Largest Companies originally appeared on Fool.com.

Copyright � 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

If you ever wanted to know what it's like watching a company like Corning demonstrate at a huge consumer electronics show, now's your chance. But first, some backstory.

When Apple was developing the iPhone, Steve Jobs was disappointed that the keys in his pocket were scratching the plastic screen on the prototype. He then went to Corning, asked for a solution to the problem, and thus Gorilla Glass was born. On 33 brands and a billion devices worldwide, it's probably covering your own smartphone or tablet.

In January, Corning unveiled the new Gorilla Glass 3 at the International Consumer Electronics Show in Las Vegas. Our Rex Moore was there, and in this video shows you exactly how the company demonstrated the product's strength.

What's your bottom line?
With the explosive growth of smartphones worldwide, many investors thought they would ride Corning's dominant cover glass to massive investment returns. That hasn't played out yet, as mobile growth has failed to offset declines in the company's core business. In this brand-new premium research report on Corning, our analyst walks through the business, as well as the key opportunities and risks facing it today. Click here to claim your copy, and receive a full year of updates as key events unfold.

The article Dropping the Ball on Gorilla Glass originally appeared on Fool.com.

Copyright � 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

In a perfect storm, the combination of several events combines in a way that creates a worst-case scenario. When these events occur, they can have devastating implications. In 2012, a combination of macroeconomic events and management moves put Nabors Industries into the eye of a perfect storm, and now the company hopes to steer to better waters. Let's check in with Nabors to see what put it in this predicament and how it plans to get out.

Horrible timing
To understand how the company got where it is, we need to jump into the Wayback Machine, all the way to 2008. Fresh off of the financial collapse, crude oil was trading just below $35, its lowest since 2004. With oil prices so low, exploration and production companies couldn't justify drilling for new sources. Nabors therefore suspended all new build plans and even had to terminate contracts on 16 rigs that were in the process of being built. �

With its capital budget cut down to next to nothing, Nabors was caught on its heels when the oil and gas boom started to take off in the United States. Thanks to advancements in horizontal drilling and hydraulic fracturing, E&P companies set off on a gold rush-like fervor. But Nabors couldn't respond to the industry's needs fast enough because its build pipeline was decimated going back to 2008. �

US Active Well Service Rig Count data by YCharts

To raise as much capital as possible so it could start�building�out again, Nabors secured contracts for the longest terms possible. At the time, that strategy seemed to make sense, since it helped to address the problems the company was facing at the time. The problem, though, was that almost all of these contracts expired in 2012. So the company found itself with over 118 of its contracts maturing in the midst of the lowest natural gas prices in 12 years. So, just as in 2008, the company was stuck without many clients wanting to drill.

Batten down the hatches
Despite last year's difficult conditions, the company was able to survive it with a gain on the year of $0.57 EPS, about one third less than 2011. If there is any solace in these numbers, it's that Nabors wasn't the only one to suffer. These same industry conditions also led Halliburton to post an 8% drop income from 2011. The only big winners in the oil services space in 2012 were some of the more niche players, such as US Silica Holdings , that are delivering specialized products geared for unconventional oil and gas exploration.

Nabors has gone to great lengths to rein in its capital expenditures. Capex for 2012 was $700 million less than in 2012, and Nabors CEO Anthony Petrello has made it clear that management will be very prudent with its capital program going forward. While there have certainly been some snafus from Nabors' management, one thing it should be�commended�for is the building of the PACE-X rig. It's been an industry darling, as well as one of the more�successful�parts of the Nabors rig fleet. These new rigs, which are much better suited for the popular pad drilling technique, have a utilization rate of 92%, the highest in Nabors' fleet.�

What a Fool believes
Nabors management has done a decent job of navigating this company through a rather difficult macroeconomic situation and coming out with a strong financial position. The�company�seems to have the pulse of unconventional shale drilling with its PACE-X rig and its team effort with Caterpillar to design pumping systems that will be able to run on a multitude of fuels. This could come in handy, especially in regions like the Bakken, which is flaring off more than one-third of its natural gas.�

Nabors still has some things to be concerned about going forward. The company plans to cut its international capital expenditures by 60%, which could come back to haunt it. A recent report from Barclays shows that capital�expenditures�for oil exploration and�production�will remain flat in North America, while the international market plans to expand by more 9%. That sets Nabors in stark contrast with one of its major competitors, National Oilwell Varco , 94% of whose rig backlog is destined for international markets. So it appears that Nabors hopes to gain stronger revenue through improved market share in the U.S., a much tougher path to chart.

National Oilwell Varco's international plans could be a sign of very good things to come. With so many other countries lining up to have their own shale booms, National Oilwell Varco is perfectly positioned to supply them with the equipment they need. To help determine whether the company is a nice fit for your portfolio, check out our premium research report with in-depth analysis on�whether it's a buy�today. For instant access to this valuable investor's resource, simply�click here now�and claim your copy today.

Say what you want about the tech sector, but it's never boring. Any given week will keep tech investors flooded with product announcements, earnings surprises, and crazy strategy shifts that absolutely nobody saw coming.

These are three of the most shocking pieces of tech news this week.

1. No more telecommuting
When Marissa Mayer took the CEO job at Yahoo! , you could smell change in the air. So far, she's revamped the company's cell-phone policies, pushed out a redesigned front page for Yahoo!'s crucial portal site, and delivered a rare 2% year-over-year revenue boost in her first quarter on the job.

Mayer clearly brought some of her Google mojo over from her former employer. As a Google shareholder, I'm sad to see her go because Big G lost an incredible talent here. And injecting some Google funk into Yahoo! Is never a bad idea, as even a cursory glance at the two companies' stock charts will tell you:

YHOO data by YCharts

But this week, Mayer delivered a shocker. Yahoo! has long offered a generous telecommuting policy, placing more value on getting the job done than on doing it at the office. That's a thing of the past. From now on, Mayer expects her workers to make the daily commute in order to set up meetings, mingle by the watercooler, and generally break down barriers between different projects and ideas.

Creating synergies and happy accidents by forcing people into the office may or may not work. Only time will really tell. But the whole concept flies in the face of contemporary management philosophy. Silicon Valley neighbor Netflix , for example, wants to staff its halls with superstars and overachievers. It's done by demanding high performance from everyone, while mediocrity earns you "a generous severance package."

But you're free to work when you want, where you want, and how you want -- as long as the results are impeccable. Netflix doesn't have a vacation policy -- just take as much time off as you need, and then come back with fully charged batteries and get back to doing an amazing job.

Other companies have followed Netflix's lead. Data delivery expert Akamai Technologies stole its vacation policy outright. Telecommuting is standard operating procedure in many Valley firms, and it's spreading to other industries as well. Mayer's policy change feels like a big step backwards. Let's see if she can prove me wrong with stronger innovation and better overall performance in the coming quarters and years.

2. Andrew Mason can joke about anything
Digital coupon wrangler Groupon delivered another terrible quarter this week, after which founder and CEO Andrew Mason made a quick exit.

So far, so expected. Mason has long been a liability to the company he founded, and Groupon's rebate management operations never struck me as a great business plan anyway. But he did not go gentle into that good night. No, sir. He turned his exit into a stand-up comedy show.

"After four and a half intense and wonderful years as CEO of Groupon, I've decided that I'd like to spend more time with my family," he wrote in a farewell note to his staff. "Just kidding -- I was fired today."

He went on to explain that a lot of Groupon's horrific performance over the last two years can be laid at his feet. "As CEO, I am accountable."

Mason didn't exactly quit by his own choice, which would have given those parting words a special power. It's still refreshing to see an ousted executive go down with this much humor and dignity. Will Mason find another high-ranking job after failing so spectacularly at Groupon? I don't know, but this note gave him a fighting chance.

3. The Cook effect
Remember when Apple CEO Steve Jobs told us that his latest gadget was pure magic -- and nobody doubted him?

Jobs made a sales meeting out of every speaking engagement. When Steve spoke, Apple shares jumped. Walk out on stage, make an elegant and persuasive presentation, leave the stage, reap the rewards. That's how you build an empire.

This week, current Apple CEO Tim Cook reminded us that it just doesn't work that way anymore.

Apple shares are off to a terrible start in 2013, falling 19% while the S&P 500 has gained 6.5% so far. Cook is under fire from investors, analysts, and media outlets. Some, like hedge fund manager David Einhorn, have concrete ideas on how Apple could treat its shareholders better. Others just raise questions in search of an answer.

This week's annual shareholder meeting gave Cook a stage to answer some of these questions, and to soothe the frayed nerves of his investors. Under Steve Jobs, the event would probably have smoothed over many of Apple's flaws like butter on the ragged top of a hand-split English muffin. But Cook fumbled the PR opportunity, buttered side down.

Just look at Apple's stock chart for this Wednesday and see if you can tell when Cook took the stage:

Source: Google Finance.

That's right -- the meeting started at noon Eastern time. A few minutes of voting and other pleasantries, and then Cook faced the audience around 12:30 PM. That's exactly where the chart takes a downward turn.

Cook was clearly on the defensive here, telling everyone that Apple's recent price performance hurts but that you should really focus on the long term. Sound advice for sure, but not what investors wanted to hear. Apple investors didn't leave that meeting inspired about a great future, as they probably would have if Steve Jobs had been available to emcee the show. Huffington Post confirmed that share prices often drop when Cook holds court at public events. PC Magazine sized the Cook Effect in a range between -0.9% and -3.6% per event.

Maybe Cupertino should get a more charismatic executive to run these presentations. Does Sir Jonathan Ive have any spare time on his knighted hands?

There's no doubt that Apple is at the center of technology's largest revolution ever and that longtime shareholders have been handsomely rewarded, with more than 1,000% gains. However, there is a debate raging as to whether Apple remains a buy. The Motley Fool's senior technology analyst and managing bureau chief, Eric Bleeker, is prepared to fill you in on both reasons to buy and reasons to sell Apple and what opportunities are left for the company (and your portfolio) going forward. To get instant access to his latest thinking on Apple, simply click here now.

The article 3 of the Week's Biggest Surprises originally appeared on Fool.com.

Copyright � 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

One benefit of following the Dow Jones Industrials is that there's always something going on with the 30 companies that make up the average. As the leaders of the U.S. economy and with presence throughout the world, the prospects of these companies have global implications for economic growth and prosperity.

With that in mind, I've picked four stocks from the Dow 30 that are especially worth paying attention to this month. Let's take a closer look at these companies to find out what's in store and whether they deserve a closer look as a possible investment.

1. Wal-Mart
After fighting reports of alleged corruption, the last thing Wal-Mart needed was another controversy. But conflicting news about the retail giant's prospects have investors watching the company to see which version of its story proves correct.

On one hand, Wal-Mart beat earnings estimates in its fourth-quarter report. The retailer posted 1.3% same-store sales gains, came out with a strong earnings report last month. But leaked internal emails among Wal-Mart executives referred to "disastrous sales" for the beginning of 2013, and that prompted the company to temper its guidance for the current quarter. Citing the two-percentage-point rise in payroll taxes, rising gasoline prices, and IRS delays in processing tax refunds, Wal-Mart's warning of flat sales for the quarter raised fears of whether a big financial hit to the retailer's customer base will mean a return to the falling same-store sales trends that lasted for years following the financial crisis.

Wal-Mart doesn't provide monthly same-store sales figures. But you'll want to watch closely for any further guidance from the retailer about the current quarter, especially as pressure continues to build on lower-income customers.

2. Home Depot
One of the biggest drivers of the stock market's rally lately has been the housing market, which has finally started picking up. Home Depot was a big beneficiary of that trend in 2012, and the company has continued to see its stock move higher on optimism for the future.

With its favorable earnings report last week, which included both a higher dividend and a new share-repurchase program, Home Depot is poised to take out its all-time record high of $70 per share. Yet at 23 times trailing earnings, the home-improvement retailer will need to see housing keep performing well to justify the lofty share price.

3. Disney
Once again, Disney is hoping for success from a March movie. Despite bad memories of 2012 box-office flop John Carter, Oz the Great and Powerful should have more box-office appeal when it comes out March 8, if only because of its connection to the much-loved 1939 classic Wizard of Oz. Yet with somewhat mixed reviews early on, investors will be watching the much-anticipated release very closely.

Long-term investors may secretly be rooting for a bad result from Oz to help send Disney's shares down temporarily. The real potential for Disney is in its future, with the Lucasfilm acquisition promising billion-dollar blockbusters for years to come and content deals starting to ramp up. With any luck, attentive investors may be able to take advantage of Wall Street tunnel vision and pick up shares at a bargain.

4. JPMorgan Chase
JPMorgan CEO Jamie Dimon is no stranger to controversy, and last week's news that the bank will cut 17,000 jobs in the coming two years again raised strong reactions from those who've criticized the outspoken executive in the wake of billions in losses from the London Whale scandal, despite Dimon's having taken a pay cut as a result of those losses.

But with the layoffs coming largely from the bank's mortgage business, which needs fewer people to process a falling number of loans in default, JPMorgan appears to be getting healthier. This month's release of bank stress test results should give confirmation of that trend and potentially set the stage for another round of dividend increases for bank shareholders across the industry. With financials having led the rally higher in stocks, watch closely for any signs that banking in general and JPMorgan in particular haven't improved as much as most investors believe.

Keep watching
Every Dow stock has interesting things happening with it. But by paying special notice to these four stocks, you'll potentially get a jump on your investing peers when big news breaks, and that can give you a valuable edge in your portfolio.

With big banks like JPMorgan Chase still trading at deep discounts to their historic norms, investors everywhere are wondering if this is the new normal, or whether finance stocks are a screaming buy today. The answer depends on the company, so to help figure out whether JPMorgan is a buy today, I invite you to read our premium research report on the company today. Click here now for instant access!

The article 4 Dow Stocks You Need to Watch in March originally appeared on Fool.com.

Copyright � 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.

Source: Barron's.

MediciNova was an obscure and thinly traded biotech until it received fast-track designation from the FDA for its potentially promising treatment of methamphetamine dependence on Monday afternoon. Fast-track status grants an expedited review of drugs that aim to fill an unmet medical niche or treat serious diseases. More than 6 million shares of MediciNova traded hands last week, and it's safe to say that MediciNova will no longer be an obscure and thinly traded biotech.

MGIC soared despite posting its 10th consecutive quarterly loss on Thursday. The shares rallied on the market's confidence that home prices in general will continue to firm, making MGIC's dicey portfolio less risky.

MAKO Surgical also bounced back after posting uninspiring financial results. They key here is that the company behind the RIO surgical robotics system for orthopedic procedures had already braced investors for the soft showing back in January. The market was won over by its cautious outlook for the year ahead, calling for the sale of 45 to 48 new RIO systems and roughly 13,500 to 14,500 procedures for all of 2013.

Ebix bounced back after getting pounded a week earlier on a bearish report. The insurance industry software specialist rose after hosting a conference call to refute the negative claims in the report. Ebix was apparently convincing enough to gain back a good chunk of the prior week's hit.

Celldex Therapeutics has now come through with three straight weeks featuring gains of 8% or better. Momentum continues to build after revealing positive test results for its treatment for hematopoietic stem cell transplantation last month.

Keep the good vibes coming
To learn more about a few ETFs that have great promise for delivering profits to shareholders in a recovering global economy, check out The Motley Fool's special free report "3 ETFs Set to Soar During the Recovery." Just click here to access it now.

The article 5 of Last Week's Biggest Winners originally appeared on Fool.com.

Copyright � 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

There's never a shortage of losers in the stock market. Let's take a closer look at five of this past week's biggest sinkers.

Source: Barron's.

ITT Educational Services flunked out after revealing that the SEC was investigating the accounting behind the post-secondary educator's private loans program.

Molycorp fell after delaying its fourth-quarter report to March 15. The rare-earth minerals producer still isn't sure how big a goodwill hit it will be taking related to last year's purchase of Neo Material Technologies.

Facing challenging conditions in the solar and LED markets, GT Advanced Technologies posted disappointing quarterly results. GT served up a loss as revenue declined sequentially and year over year. The company booked just $6.5 million in new orders during the quarter.

Global Hunter Securities downgraded Halcon Resources this week, even after the Bakken oil producer delivered strong growth in its latest quarter.

Finally we have OmniVision posting a double-digit percentage decline after offering a weak near-term outlook. OmniVision is the top dog in image sensors at a time when high-quality cameras are a priority in smartphones and tablets. The problem for OmniVision is that this has become a very competitive market.

Sure, OmniVision far exceeded Wall Street expectations on the top and bottom line during the holiday quarter, but its near-term outlook isn't as rosy. OmniVision's guidance for earning $0.14 to $0.29 a share on no more than $330 million in revenue is well short of the $0.32 profit on $371.5 million in revenue that analysts were forecasting.

Ready for a bounce
If you owned some of these losers, how about following the smart money into winners?

Profiting from our increasingly global economy can be as easy as investing in your own backyard. The Motley Fool's free report "3 American Companies Set to Dominate the World" shows you how. Click here to get your free copy before it's gone.

The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.

Copyright � 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

On Friday, e-commerce facilitator Digital River announced that it has poached CA Technologies Executive Vice President David C. Dobson to become its new chief executive officer.

Dobson, a 19-year veteran of IBM , as well as an employee at Corel and Pitney Bowes before moving to CA, replaces DR Chairman Thomas Madison, who had served as interim CEO since company founder and longtime CEO Joel Ronning announced his resignation back in November. Ronning's resignation preceded a DR report of falling revenues and a third-quarter loss.

Exiting the company he began, Ronning took with him a cash severance of $867,576 along with accelerated vesting of stock awards, together comprising a golden parachute worth $4 million. As for his replacement, Digital River has not yet said what Dobson's compensation package will be.