With this year's summer Olympics just around the corner, athletic outfitter Nike Inc. (NYSE: NKE) unveiled its new Olympic products yesterday.

While Nike has never really embraced the concept of being a sponsor for the Olympics, it prides itself on being an outfitter for the competing athletes. This year there will be thousands of Olympic hopefuls from over a hundred companies that will be sporting the famous "Nike Swoosh" on themselves for millions of watchers to see.

Nike will definitely leave its own footprint all over this summer's Olympic games. For the first time ever, BMX will be an Olympic medal sport, and the new Nike gear for the sport is being heralded by Nike's global director for action sports, John Martin, as the "illest BMX product ever." I honestly thought the word "illest" vanished from the vocabulary around the same time as Run-DMC; guess I was wrong. But I will definitely look forward to seeing the "illest" BMX gear ever, Nike definitely got my attention on that one!

General Electric (NYSE: GE) is still trying to convince investors that it can offset slow growth and some weak divisional results by doing well in emerging markets. So far, the stock market has not bought in.

The market has actually been hostile to the message. GE shares are just above $34, which is not far from their 52-week low and down considerably from their high of $42.15. Over time, earnings from regions like India and China may help the stock, but the company is going to have to push harder to mark its case. It will use the Olympics in Beijing as a spring-board.

"We want to humanize G.E. even as we show worldwide investors that G.E. is a major player in the world," said Don Schneider, executive creative director at BBDO New York, the Omnicom (NYSE: OMC) unit that is G.E.'s longtime advertising agency, told the The New York Times

GE is a major player in the world but the politics in countries such as China may not make growth there as easy as investors would hope. A global recession could also slow infrastructure building in Asia and the India sub-continent.

To some extent, the large marketing budget for this Olympics is a waste of money. Wall Street wants to know that GE is willing to deal with its slow-growing medical and industrial units either by selling them or cutting costs. Tickets to the Olympics won't help.

Douglas A. McIntyre is an editor at 247wallst.com.

Priceline (NASDAQ: PCLN)'s unbelievable quarter, which saw the company best earnings estimates by $0.12, may mean that investors pay attention to CTRIP.com (NASDAQ: CTRP) numbers due out next week. While numbers were up across the board international bookings surged.

Priceline's gross bookings growth momentum continued in the fourth quarter with international growth accelerating to 113.0% year-over-year and the domestic growth rate increasing sequentially to 24.2% led by increasing retail airline ticket bookings," said Jeffery H. Boyd, Priceline's President and Chief Executive Officer. "Internationally, we believe that our wide geographic reach, new market initiatives and extensive inventory are providing sustained impetus for growth. We believe that in the United States, our value positioning and brand promotion through offline and online channels is driving above-category growth rates in an uncertain economic environment.

CTRIP.com is the Chinese equivalent of Priceline. The company has also seen earnings grow nicely, and with a growing Chinese middle class, leisure activities are becoming more and more in demand. Throw in the Olympics this summer, and CTRIP may very well benefit from all this as it is the leader in bookings fields in China. With the stock beaten down, investors may want to take a closer look at this interesting Chinese travel play.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has no position in any stock mentioned as of 2/18/08.

The 2008 Olympics will prove to be a profitable endeavor for lots of companies. We've spoken previously about ClickSoftware (NASDAQ: CKSW), a niche software player with workforce management solutions to manage service networks. (To learn more about the firm, read this article.)

So, how do you effectively manage a temporary but highly critical workforce for an extremely large, extremely high-profile public event?

One answer is by striking a deal with CKSW, which is exactly what's happened. ClickSoftware announced today that the firm has landed a deal via its Chinese reseller to "manage the field activities of hundreds of telecommunication technicians during the 2008 Olympic Summer Games in China."

After investors were disappointed with last quarter's earnings, this may be the win ClickSoftware's been looking for on the way to gold.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. Author does not own CKSW.

Could there be any worse fate for an Olympic level athlete than to be stripped of their statistics and medals? Yes, there could be worse things. Just ask former Olympic track star Marion Jones which is worse, losing your medals or being forced to tell your mother you have to sell her house.

Are these professional quality athletes really so stupid as to believe that if they get pinched for using banned performance enhancing drugs they'll get away with just a slap on the wrist? I don't think it's that simple. I'm sure that Marion Jones knew what she was doing was seriously wrong and I feel certain that she knew if she got busted, the truth would come with a very high price. Now, amid all the investigations and scandal, she's finding out just how high priced skirting the truth can really be.

For her misdeeds, Marion Jones has been required to forfeit all five of her medals from the 2000 summer Olympics and has been told to repay approximately $700,000 of her prize money. All of her standings and statistics beginning at September 1, 2000, shall be red-lined in the record books and her medals from other competitions have been taken away also.

MAJOR PAPERS:

• While United Parcel Service (NYSE: UPS) is preparing for the busiest time of the year, high costs and a slowing economy are set to present big challenges for the Atlanta company once the holiday season is over, the Wall Street Journal reported.

OTHER PAPERS:

• BusinessWeek's "Inside Wall Street" column reported that shares of Abiomed Inc (NASDAQ: ABMD) have recovered nearly to its 52-week high of $15, rallying on buzz that the FDA could approve the company's chief product, Impella, a miniature pump at the end of a catheter, within 12 months.
• The "Inside Wall Street" column also reported that Focus Media Holding Limited (NASDAQ: FMCN), the top advertising company in Internet, Mobile and Poster/Panel Markets, should benefit from the 2008 Summer Olympics.

WEB SITES:

• According to sources and reported by AppleInsider, there have been additional sightings of an "unfamiliar MacBook model floating around" Apple Inc's (NASDAQ: AAPL) campus perhaps indicating a new Macbook is coming at next month's Macworld Expo.

I'm sure there will be millions of people watching and participating in the 2008 Olympics set to take place in Beijing, China. That got me thinking: everyone knows that the Chinese investment giant is just beginning to wake. Yes, things are frothy now and growth is almost never linear. There will be bumps along the way as China grows and some people will make a mint, while others lose their shirts.

I'm looking to make a mint. So, how to play China into 2008? I came up with two stocks to help vault investors into the 2008 Olympics.

Ctrip.com (NASDAQ: CTRP): China's leading online travel services provider, Ctrip is probably the most engaging pure play on the Chinese internet making a run at the traditional economy. With 57% marketshare, this company is poised to be the leader in any consolidation that occurs in the online travel space. Bear Stearns' analysts expect Ctrip to grow its revenues at an average of 40% over the next three years based upon:

• China online travel accounting for <1% of the total travel market in 2006
• The Olympics will naturally act as a showcase for inbound tourism into China
• Rising GDP and income levels should contribute to growing demand for both business and leisure travel
• The Chinese government is mandating a transition to e-ticketing

As Brent Archer recently wrote, Eastman Kodak (NYSE: EK) has been one of the most visible sponsors of the Olympic games for years, but it's a partnership that's coming to an end. After the Beijing games in 2008, Kodak will no longer pay the $50 million plus per Olympiad to be the official film and imaging sponsor.

Shares of Kodak have been terrible performers over the past decade as the company faces increased competition in the digital age. The Street appears to approve of dropping the Olympics, and the stock was up more than 5% on the news.

And maybe it is a sensible cost-cutting move -- cost-cutting moves nearly always send a company's share price up. Movie Gallery (NASDAQ: MOVI) soared last month after the rental-chain announced it was closing 13% of its stores, only to tank when bankruptcy rumors emerged on Friday.

Eastman Kodak Co. (NYSE: EK) announced this morning that it will end its Olympic sponsorship following the 2008 Summer Games in Beijing, as they reassess their marketing and attempt to move in a new direction. EK is moving significantly higher today on this news and not much else, so it looks like investors are happy with this move. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on EK.

After hitting a one-year high of $30.20 in June, the stock has up and down sharply within a $2-dollar range over the past three months. EK opened this morning at $27.24. So far today the stock has hit a low of $27.18 and a high of $28.44. As of 10:45, EK is trading at $28.20, up $1.16 (4.3%). The chart for EK looks neutral but improving, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

For a bullish hedged play on this stock, I would consider a November bull-put credit spread below the $25 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 13.6% return in just 5 weeks as long as EK is above $25 at November expiration. Kodak would have to fall by more than 11% before we would start to lose money.

EK hasn't been below $25 since June and has shown support around $27 recently. This trade could be risky if the company's earnings (due out on 11/1) disappoint, but even if that happens, this position could be protected by strong support between $25 and $27, where EK has bottomed throughout the past three months.

Brent Archer is an options analyst and writer at Investors Observer.

MAJOR PAPERS:

• Madonna, the original material girl, is signing a 10-year $120M deal with concert promoter Live Nation (NYSE: LYV), leaving Warner Music Group (NYSE: WMG) in her wake, reported the Wall Street Journal.
• According to the Wall Street Journal's "Heard on the Street" column, Progressive Corporation (NYSE: PGR) is struggling due to competitors' pricing, safer cars, and a struggling economy, to name a few factors.
• The Financial Times reported that General Electric Company (NYSE: GE) will decide whether to sell its 80% stake in NBC Universal after the Beijing Olympics in August 2008, according to sources.
• Tenaris (NYSE: TS), the maker of steel pipes for oil and gas exploration, has ruled out any possible sale of itself to ArcelorMittal (NYSE: MT) , the world's biggest steel producer, reported the Financial Times.

OTHER PAPERS:

• The New York Post reported that UBS AG (NYSE: UBS) has fired David Martin, its head of interest-rate trading, and James Stehli, the head of its collateralized debt obligation unit, due to the fallout from the mortgage meltdown.
• BP PLC (NYSE: BP) CEO Tony Hayward will today unveil plans to reduce bureaucracy and duplication of management at the oil giant, reported the Telegraph.

China Petroleum & Chemical (NYSE: SNP) volatility up into 8/27 EPS & Outlook. SNP, an energy and chemical company based in the People's Republic of China, is expected to report EPS on August 27. SNP is recently up $4.12 to $107. SBSH said on August 22: "We value SNP ADRs at $104 based on a sum-of-the-parts analysis." WTI Crude Futures are up 1.61% to $70.96 according to Bloomberg. SNP September option implied volatility of 42 is above its 26-week average of 33 according to Track Data, suggesting larger price risk.

CNOOC Ltd (NYSE: CEO) put volatility Elevated into EPS & Outlook. CEO as of 12/31/06, CEO owned net proved reserves of approximately 2.53 billion barrels of oil. CEO is expected to report EPS on August 29. CEO is recently up $2.28 to $117.28. WTI Crude Futures are up 1.61% to $70.96 according to Bloomberg. CEO September call option implied volatility is at 32, puts are at 46; above its 26-week average of 30 according to Track Data, suggesting larger risk.

PetroChina (NYSE: PTR) put volatility at 41 after reporting net profit increase. PTR, a People's Republic of China run petroleum and natural gas company, is recently up $3.71 to $144.35. PTR reported that its net profit for the first half of 2007 was up 1.4% from the first half of 2006. WTI Crude Futures are up 1.61% to $70.96 according to Bloomberg. PTR call option implied volatility is at 25, puts are at 41. PTR 26-week average option implied volatility is 29 according to Track Data. PTR puts are expensive because PTR is not easy to borrow.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Baidu (NASDAQ: BIDU) volatility flat on reports of BIDU TV.

www.Baidu.com, a Chinese language internet search provider, closed at $203.21. SBSH has a $250 price target on BIDU. Smith Barney says that "according to article on www.Tech163.com and it www.sohu.com, BIDU has started to test its BIDU TV advertising display on its union sites on 8/21." BIDU September option implied volatility of 50 is near its 26-week average according to Track Data, suggesting non-directional risks.

SINA Corp (NASDAQ: SINA) option implied volatility flat at 42.

www.SINA.com, a leading online media company and value added information service provider for Chinese communities, closed at $40.30. CIBC World said on 8/7 "SINA maintains a solid market leadership position in branded advertising, supported by stable traffic growth and solid relationships with larger advertisers." SINA overall option implied volatility of 42 is above its 26-week average of 39 according to Track Data, suggesting non-directional risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

If mere athletic talent sold product, kids would be lining up for Tim Duncan's shoes, since he is the best player in the NBA. But it doesn't. It takes a combination of extraordinary athletic accomplishment and charisma to push a brand over the top. Three such athletes, Amanda Beard, LeBron James and Tiger Woods, are front and center in this week's news.

Two are at the peak of their pulling power. LeBron James (Nike, NYSE: NKE, Coca-Cola's (NYSE: KO) Powerade) fresh from an astonishing game five of the NBA Eastern conference playoffs, is dominating the sports page, if not the San Antonio Spurs. The Cleveland franchise has gained $185 million in value since his signing, and the $90 million he received from Nike seems like a bargain now. When his contract expires in 2008, he could demand -- $250 million? $500 million? It is possible, by the end of the career, he could be the first $1 billion athlete?

If Tiger doesn't beat him to it. Beginning tomorrow, Tiger Woods (Nike, Buick, General Motors, NYSE:GM) starts his pursuit of the 2007 U.S. Open. He's inked a 5-year, $40 million deal with Nike, and $25 million from Buick. Unlike LeBron, Tiger can look forward to another 30 years of playing, with lots of green jackets and green cash to come.

MOST NOTEWORTHY: Nike Inc (NYSE: NKE), Foot Locker Inc (NYSE: FL), Tellabs Inc (NASDAQ: TLAB), ADTRAN, Inc (NASDAQ: ADTN) and Bookham, Inc (NASDAQ: BKHM) were today's noteworthy downgrades:

• Banc of America downgraded shares of both Nike and Foot Locker to Neutral from Buy, as the firm believes industry pressures in the U.S. could more than offset the potential turn in Europe and benefit from the 2008 Olympics.
• Cowen downgraded shares of ADTRAN, Bookham and Tellabs to Neutral from Outperform.
• Goldman Sachs also downgraded shares of Tellabs, to Sell from Neutral, as the firm believes the stock fully discounts the expected sales and margin improvement.

OTHER DOWNGRADES:

• Allergan Inc (NYSE: AGN) was downgraded to Equal Weight from Overweight at Morgan Stanley citing limited upside.
• Friedman Billings removed The Cheesecake Factory Incorporated (NASDAQ: CAKE) from its Top Picks and maintained its Outperform rating.
• Lehman downgraded shares of The First American Corporation (NYSE: FAF) to Equal-Weight from Overweight on increasing risk to the company's title margin and regulatory concerns.
• Matrix USA downgraded shares of Lowe's Companies Inc (NYSE: LOW) to Buy from Strong Buy on valuation.

China is currently taking a sledgehammer to its economy in an attempt to slowdown growth. On Friday, China officials announced it was hiking short-term rates, increasing the required reserves banks maintain on loans and increasing the band on its currency to let it further appreciate. All powerful tools to halt money supply growth.

These steps follow news reports this week that one of China's more respected entrepreneurs said the Chinese stock market is a bubble. We blogged a few weeks back that Chinese retail investors opened more than one million stock trading accounts in one week and over 10 million the last four months -- greater than the previous four years combined.

Currency appreciation during the short-term always adds more fuel to the fire. As Chinese investors expect the yuan to appreciate, they will convert their massive hoard of US dollars to yuan and then most likely look for additional profits in the stock market. This always ends ugly when the central back finally succeeds at sucking enough money out of the economy and then the market will have a serious correction.

I'd stay away from Chinese stocks. China hosts the Olympics in 2008 and does not want a bubble economy when the world shows up. Stick with the mature economies for now.