On Friday's installment of Investor Beat, host Alison Southwick and Motley Fool Million Dollar Portfolio lead advisor Ron Gross take a look at some of the biggest blockbuster stories from this earnings season, to see who popped, and who dropped.

Chipotle had another phenomenal quarter this quarter, with shares up more than 11% by market close on the news. Revenue increased more than 20%, with same-store sales growing by more than 9%. The company is looking to open another 200 restaurants in 2014: Is that too aggressive? Could the company be approaching the dreaded "burrito saturation point?" In today's lead segment, Ron tells investors why he loves this stock, and how much more growth the company could still have left.

Then, although Amazon was able to increase sales by 20% year over year this quarter, to $25.6 billion, analysts wanted to see $26 billion, and the stock sold off 10% as a result. Amazon has missed analysts' estimates before, but the market is generally much more forgiving than this. Could investors be getting tired of Amazon's old excuse, that the reason we don't see soaring profits with this company is because it is eternally reinvesting in its future? Ron discusses why the old excuse still holds true, and why this is truly a stock for long-term investors, not for those who need to see profits today.

And Google shares are up today after the company announced Q4 earnings last night. The company mostly met analysts' expectations, though it missed on earnings per share, partly due to the lagging Motorola. Google did announce, however, that it would be selling Motorola to Lenovo, something Ron sees as a positive, selling off a business that was a distraction rather than core to Google's mission. He doesn't see the sale as something that will radically drive share prices upward.

The big story here was Google's stock split, announced in 2012 and now, finally clearing litigation. Rather than a traditional 2-for-1 split, the split will create a new class of shares, class C, which will act just like class A shares, but with no voting rights for class C shareholders. Google has been criticized for the move, which some see as a way for Brin and Page to retain control over the company, and investors have expressed concern that the two classes of shares will trade at different rates. Ron discusses the split, and how class C holders will be compensated if the disparity between class C and A shares becomes significant.

And finally, Ron talks about why he'll be watching LinkedIn as it reports earnings next Thursday. Analysts felt that the company issued weak guidance for this quarter when it reported last quarter, saying it "only" expected a 37% increase in revenue. Though an impressive number by all accounts, it wasn't good enough for Wall Street. Ron says he'll be watching when the earnings report comes out to see where revenue growth actually landed, and where the company is guiding to from here.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Gigamon, jumped more than 10% during Friday's intraday trading after Goldman Sachs upgraded the stock, and speculated that the network traffic visibility specialist could be a takeover target.

So what: Anticipating an earnings beat and raise when Gigamon announces next Tuesday, Goldman analyst Ken Schofield upgraded shares to buy from neutral, and assigned a $38 price target. Even after the pop, that still represents a healthy premium of nearly 25% from today's close.

Schofield explained his rationale by pointing to improving U.S. enterprise spending as demonstrated in the results of Gigamon's peers. To be sure, consider F5 Networks, shares of which spiked last week after it beat expectations and issued solid forward guidance. In addition, Schofield suggested Gigamon's strong margins and fast revenue growth could make it an attractive acquisition target.

Now what: Keep in mind that Gigamon stock plunged three months ago, when it beat expectations, but followed with weaker-than-expected forward guidance. And even now, the stock doesn't look particularly cheap trading around 28 times next year's estimated earnings.

Going into next week's report, analysts will be looking for adjusted earnings of $0.12 per share on sales of $41.9 million. Both figures are at the high end of Gigamon's own guidance, which calls for earnings of $0.10 to $0.12 per share on sales of $40.5 million to $42.5 million.

We'll see whether Goldman Sachs is correct, but if Gigamon can manage to beat its own expectations and raise forward guidance, investors could be happy they held on.

Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

More than two stocks fell for every lucky gainer in the stock market today, as January, fittingly, ended on a losing note. Major indexes suffered their worst month since May of 2012 in January. The question on the minds of many investors: "Is this just a rough start to the year or is it the beginning of a much steeper sell-off?" It's a natural question to have, but it can also lead us to stray from the long-term mind-set. Earlier this month, my colleague Morgan Housel wrote a brilliant eulogy for Long-Term Thinking, who finally kicked the bucket after the present state of financial media left him fatally weakened.

The S&P 500 Index lost 11 points, or 0.7%, to end at 1,782 Friday. The index was down about 3.6% in January -- and the sun will still rise tomorrow morning.

What will not rise tomorrow morning is the price of Newmont Mining stock, which lost 10.4% today. While the stock performed abysmally today and lost about 50% of its value in 2013 alone, the fact that the stock market is closed on Saturdays should insulate this gold and copper stock from both gains and losses tomorrow. Newmont Mining's precipitous fall today, however, was the result of disappointing forward guidance. Although the company's preliminary results topped production expectations for both gold and copper production, the company expects gold production to actually decline from 5.1 million ounces of gold in 2013 to 5 million ounces of gold in 2014. With the price of gold still struggling, there wasn't much to cheer for on Friday. 

MasterCard Incorporated also took a hit on Friday, slipping 5.1% after last quarter's sales and earnings failed to impress. I still think MasterCard is poised to outperform for patient, longer-term investors, since cash, as we know it, is slowly becoming an antiquated inconvenience. Its "disappointing" revenue growth was still 12%, which isn't bad for an $87 billion behemoth. MasterCard slowly lost customers to Visa last quarter, which shouldn't be a long-term trend, but is something shareholders should still watch closely.

Lastly, shares of the Sunnyvale, CA-based communications technology company Juniper Networks shed 4.5% Friday. There was no compelling reason for the stock to sell off. Sometimes, the recent success of a stock can work against it, and this may be what we're seeing from Juniper Networks shareholders today. Even after today's losses, the stock is up nearly 18% in 2014, the result of two activist hedge funds taking large stakes in the company, as well as fourth-quarter results that topped expectations for both profit and revenue. Don't be tricked by today's slide: Juniper still has quite a bit of potential in the years to come.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Proofpoint, jumped nearly 11% Friday after the company's fourth-quarter results topped expectations.

So what: Quarterly sales rose 43%, to $40.8 million, which translated to an adjusted loss of $0.07 per share. By contrast, analysts were expecting a wider loss of $0.12 per share on sales of just $35.72 million. Meanwhile, Q4 billings arrived at $48.9 million, or an increase of 33% year over year.

In addition, Proofpoint expects full-year 2014 revenue in the range of $174.5 million to $176.5 million, with billings of $203 million to $205 million and an adjusted loss per share of $0.53 to $0.48. By comparison, Wall Street was modeling a 2014 loss of $0.29 per share on lower sales of $165.5 million.

Now what: The forward earnings miss might sound bad, but management blamed the discrepancy on plans to increase investments in both sales and R&D to "capitalize on the weakening competitive environment" in their fast-growing market. What's more, management also insists that, while losses will widen in the first part of 2014, they're expected to narrow over the course of the year, with a goal of breakeven results in the fourth quarter.

In the end, I can't blame investors for bidding shares up today. If Proofpoint can deliver on its promise in 2014, the stock could still be a bargain even after this pop.

Shares of Tyson Foods  zoomed northwards in the wake of the company's Q1 results. For the quarter, revenue was $8.76 billion, or 5% higher than the $8.37 billion in the same period the previous year. Attributable net income rose more sharply, to $254 million ($0.72 per diluted share), which was 47% above Q1 2013's $173 million ($0.48).

Analysts had been expecting revenue of $8.75 billion and EPS of $0.63.

The quarter was helped by sales growth in Tyson's prepared-foods segment, which helped to offset weaker demand in China. The firm attributed the latter to continued worries about food safety in that market.

The company also provided selected forward guidance for its current fiscal 2014. Sales for the period are expected to come in at around $36 billion, with capital expenditures totaling $700 million.

Following the announcement of the results, the company's stock advanced by 8.4%, or $37.40, to close the day at $37.40 per share.

Can Sony deliver games the way Netflix delivers videos? Will Syfy's medical thriller Helix heal recent ratings woes? Will enough people watch the pirates of Black Sails or the travails of a time-displaced nurse in Outlander to make Starz stock pay off for investors? Ellen Bowman, Nathan Alderman, and Tim Beyers have these stories and the dish on the design (or lack thereof) for X-Men: Days of Future Past in this week's episode of 1-Up on Wall Street!

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Constant Contact, fell 13% Friday despite fourth-quarter results and forward guidance that came out ahead of expectations. 

So what: Quarterly revenue rose 13% to $74.9 million, which translated to 76% growth in non-GAAP net income, to $0.30 per share. By contrast, analysts were only looking for earnings of $0.27 per share on sales of $74.88 million.

In addition, Constant Contact issued guidance for 2014 sales to grow "more than 13%" -- which means sales of at least $322.5 million -- with adjusted earnings of $0.96 per share. Analysts were only modeling 2014 earnings of $0.94 per share on revenue of $321.43 million.

So what gives? With the the stock going into the report priced at a lofty 90 times last year's earnings, it looks like the market was hoping for an even bigger beat.

Now what: But it's also worth keeping in mind that shares look much more reasonably priced (though still aren't particularly cheap) at roughly 23 times next year's estimated earnings. As it stands, I'm personally not intrigued enough to pick up shares here given Constant Contact's sluggish top-line growth -- after all, it can't keep growing earnings at this rapid clip forever without at some point accelerating revenue growth. At the very least, investors might be wise to add Constant Contact to their watchlists to keep tabs on its progress.

If you've followed Google for any length of time, Thursday's stellar quarterly and annual earnings report wasn't a surprise. At least, sequential and year-over-year revenue and earnings growth was expected; the magnitude of Google's growth, however, may have caught some unawares.

But solid earnings tell only part of Google's story this week, let alone this month. The list of positives involving Google and its stock continues to grow longer. From patching up old partnerships and acquiring cutting-edge technologies, to shedding dead weight, Google's on the kind of roll its competitors can only dream about.

The specs
Counting Motorola Mobility's revenue of $1.15 billion in its recently completed fourth quarter, Google generated an outstanding $16.86 billion in total revenue, up 17% compared to 2012's fourth quarter. Removing Motorola Mobility from the revenue picture, which Google will do permanently after selling the money-losing unit to China's Lenovo for $2.9 billion, and Google's year-over-year revenue jump was even more impressive; up 22% to $15.7 billion.

But Google didn't just excel at top-line growth; its strong revenue made its way down the income statement to earnings, too. On a non-generally accepted accounting principles basis (removing one-time items and expenses), fourth-quarter earnings improved 12.8% compared to the year-ago period, to $12.01 a share from $10.65 a share in 2012. Same positive story for operating income, the volume of paid clicks, and padding the balance sheet last quarter.

About the only downside to Google's most recent quarter was an increase in expenses, both operating and total costs. Operating expenses rose to $5.5 billion compared to $4.81 billion in the year-ago quarter. Total expenses increased to nearly $13 billion from slightly more than $11 billion in 2012, but that's splitting hairs.

As is par for Google's course, management didn't have much to say about future expectations, other than "We expect to continue to make significant capital expenditures." "Continue" is the key word there, if January is any indication.

Now for the really good news
After clearing the legal air with shareholders, Google finally announced a stock issuance/split involving a "dividend" of nonvoting Class C stock for existing Class A shareholders. There had been concerns, which was the impetus for the recently settled shareholder lawsuit, that the stock split first discussed several years ago by founders Larry Page and Sergey Brin did little for stockholders, and everything for Page and Brin. To make certain everyone's happy -- founders and shareholders alike -- Google has agreed to the unusual arrangement of paying $7.5 billion if the split doesn't go as planned.

In addition to shedding Motorola, Google took steps to patch things up with Samsung in the last week. The two mobile behemoths agreed to a cross-licensing deal that they say will "lead to deeper collaboration on research and development of current and future projects." It's hard to imagine a more powerful alignment than the king of mobile operating systems and the world's leading phone manufacturer. Both Apple and Microsoft will feel the impact of the Google-Samsung alignment in the coming years.

Google also made some intriguing acquisitions this month, including artificial intelligence provider DeepMind for a reported $400 million and smart home appliance manufacturer Nest, which will set Google back $3.2 billion. It's not hard to see how Google can use DeepMind's solutions that include "learning algorithms" to push content and, of course, ads, to users based on predictive analysis. Google is likely to merge at least some of the capabilities of AI with its new, smart appliances from its Nest acquisition, too.

Final Foolish thoughts
It's been quite a month, and worthy of Google's stock price reaching an all-time high. In just 31 days, this tech giant delivered outstanding revenue and earnings, made strategic acquisitions that could define Google solutions in the not-too-distant future, shed money-losing Motorola, patched up relations with Samsung, and implemented a long-awaited stock split. One has to wonder what comes next.

Bank of the Ozarks is keen on getting bigger, and the bank took a major step by agreeing to acquire Summit Bancorp. In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson discuss the acquisition and why it appears to be a savvy move because of the use of the bank's stock in the purchase price.

Next week: its the 100th episode of Where the Money Is! Tell us why you love the show & most creative response wins a exclusive WtMI jacket!

— MotleyFoolFinancials (@TMFFinancials) January 28, 2014

Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

Friday's market moves certainly kept investors on their toes. The S&P 500 quickly plunged to a loss of more than 1% before eventually working its way back to the unchanged level with an hour to go in the session; but it then traded down for the rest of the day. Yet, the wave motion of the market didn't stop Manitowoc , Chipotle Mexican Grill , and Wynn Resorts from giving shareholders big gains on positive earnings news.

Manitowoc soared 15% after reporting fourth-quarter results last night that impressed shareholders. Revenue fell 2%, continuing a trend that investors have seen throughout the industrial sector, but the crane-making company managed to boost its adjusted earnings by 74%, thanks to strong gains in margins and cost-cutting measures. One area that did particularly well was Manitowoc's food-service machine business and, given increasing optimism about the future of the construction industry, Manitowoc has room to post further gains both in the current quarter and throughout 2014.

Chipotle gained 12% as its earnings results, and future guidance, held up well with investors' high expectations. Same-store sales of 9.3% boosted revenue by almost 21%, with gains in operating margins helping drive profits higher. The restaurant operator expects to boost its store count by 200 this year, with more modest comps than it had in the fourth quarter, but with the possibility of a price hike at some point in 2014. Results like these are essential for Chipotle to justify its ample valuation.

Wynn Resorts rose 8% after its own earnings report showed substantial growth in its casino business. Overall revenue gained 18%, but as has been the case for years, the gaming giant's Macau-based business drove that growth with 25% gains in its revenue there. With net income almost doubling, the prospects for the future look even better, with its new Cotai Strip casino set to open in Macau in early 2016. Yet even domestically, the casino industry is looking better, as peer Boyd Gaming also posted solid stock gains on positive earnings news today. Overall, an improving economy is lifting Wynn's prospects, and as long as emerging market economies don't actually start shrinking, Wynn looks well-poised to keep benefiting from growth.

Google is making big news with its recently announced sale of its Motorola Mobility unit to China's Lenovo  for $2.9 billion. The price was nearly a cool $10 billion short of the $12.5 billion that Google paid in 2011 for the early cell phone maker and current manufacturer of the Moto X, Moto G, and DROID smartphones.

The headlines have largely been reading something to this effect: "Google sells Motorola, but keeps most of its patent portfolio." If you're following the hot 3-D printing space and, most especially if you're an investor in 3D Systems , your first thought upon seeing the headlines was likely the same as mine: BUT what about Project Ara?

Well, 3D Systems' shareholders can rest easy, as Google's not only keeping most of the Motorola patents (which should be useful in helping fend off patent infringement claims related to its Android operating system), it's also keeping Motorola's advanced technology and projects group. This is the group working on Project Ara, and led by former DARPA head, Regina Dugan.

The goal of Project Ara is to create a large-scale 3-D printing manufacturing platform capable of producing customizable open-source modular smartphones. Motorola had been working on customizable smartphones for about a year before it teamed with 3D Systems last November. Naturally, Project Ara's mission entails integrating the 3-D printing of various types of materials into this platform, including conductive materials to produce electronic circuitry. This is a capability 3D Systems doesn't yet possess, but most surely will be working on developing and/or acquiring.

Google's too smart to let the top team it's been assembling at Motorola's advanced technology and projects group get away and lose the opportunity to be involved in what could be a watershed moment for U.S. manufacturing. If successful -- and with Google's megadeep pockets, I'm betting it will be -- Project Ara seems like it has the potential to be a landmark moment in the transitioning of 3-D printing from a technology used primarily to make prototypes and produce small-run production batches to one that will be used in large-scale manufacturing, as well as "micro-manufacturing."

The fact that Google has shed the rest of Motorola means it will have more time and financial resources to focus on this key group and its projects, which should speed things along with Project Ara.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Agilysys, Inc. fell more than 10% during Friday's intraday trading, then recovered partially to close down around 5% after the hospitality industry software company released solid fiscal third-quarter 2014 results, but revised forward revenue guidance downward.

So what: Quarterly revenue fell 8% year over year to $26 million -- a result largely driven by decreased sales of lower margin remarketed products, but partially offset by 11% growth in recurring support revenue to $13 million. That translated to adjusted income of $0.01 per share, which was inline with analysts' expectations.

However, without providing specific numbers, management revised its outlook to say fiscal 2014 revenue will likely increase at a rate "slightly below the expected annual growth for the industry of 5% to 7%."

Now what: With this in mind, management explained the revision wasn't indicative of a broader problem in the business, but instead, the result of timing of revenue recognition for certain contracts. Going forward in fiscal 2015, management insisted sales should resume growing at a slightly better-than-average industry rate.

That's fair enough, but I'm still not particularly intrigued with Agiysys' prospects from a long-term investment standpoint. Until renewed growth and higher profitability resumes, I think investors have plenty of other great places to put their money to work.

Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

Stock market investors ended the challenging month of January on a down note, as the market's attempt to claw back early losses was only partially successful. Even though the drop in major market benchmarks was relatively modest by the close, Amazon.com , Mattel , and Newmont Mining all posted double-digit percentage losses Friday.

Amazon fell by 11% after the online retailer's earnings results weren't impressive enough to satisfy growth-hungry investors. Amazon posted revenue growth of 20%, with earnings per share that more than doubled from year-ago levels. Yet, investors had expected to see even faster growth in both sales and net income, and even news that the company might raise the price on its popular Amazon Prime two-day shipping and streaming-video service didn't give shareholders much optimism about 2014. Still, the long-term argument for Amazon remains intact, with its Kindle ecosystem beginning to reap network rewards that could help drive future growth.

Mattel dropped 12%, as the toymaker reported a surprisingly difficult holiday quarter. Overall sales dropped 6% worldwide, with the company's core North American segment responsible for all of those losses. Two of the company's best-known brands, Barbie and Fisher-Price, saw even more dramatic sales declines of 13% each. The toymaker did a good job of reining in costs in order to minimize the hit to adjusted earnings, but even though CEO Bryan Stockton tried to emphasize the positives of the full 2013 year, investors were shocked by the implications of the quarter on Mattel's long-term prospects.

Newmont Mining declined 10% after its guidance for 2014 raised questions about the gold miner's profit margins. The company said that it expects to produce between 5 million and 5.3 million equivalent ounces of gold, but cash costs of between $740 and $790 per ounce were above what many investors had expected to see. With plans to cut capital expenditures by a greater amount than expected, Newmont looks vulnerable to any further declines in gold prices.

UnitedHealth Group (NYSE: UNH) recently stated that funding cuts for private Medicare could negatively affect its 2014 earnings. The leading health insurer's recent earnings announcement warned that implementation of the Affordable Care Act along with Medicare Advantage cuts could hit United's earnings by as much as $1.50 in 2014. However, the company will be able to overcome possible losses in the long-term.

The company's reported fourth-quarter net income was $1.43 billion, or $1.41 a share. This is compared with $1.24 billion, or $1.20 a share for the fourth quarter of 2012. Meanwhile, revenue was $31.1 billion compared to $28.8 billion for the 2012 period. Full-year earnings were $5.50 per share, up from 2012′s $5.28, and sales climbed to $122.5 billion against last year's $110.6 billion. 

United CEO Stephen Hemsley said during a recent conference call that the company intends to offset these reductions with other "plans and actions" while growing revenue to a range of $128 billion to $129 billion.  

While this may comfort analysts and investors this year, the Centers for Medicare and Medicaid Services is due to announce a proposed funding rate for 2015. Mr. Hemsley also noted United Health is "in discussions" with the agency on the anticipated funding levels.

Why Medicare Advantage cuts matter
As has been reported, government funding for Medicare Advantage plans (which are privately run versions of the federal Medicare program) is being significantly cut to help fund the health care overhaul. UnitedHealth, the biggest provider of Medicare Advantage plans, has warned in prior earnings reports cuts will put pressure on earnings as enrollment in these plans starts to slow.

UnitedHealth's key rival in the Medicare Advantage market is Humana (NYSE: HUM) . Humana's share price grew by more than 50% in 2013. The company's management noted in its most recent earnings announcement that Humana anticipates slower growth in its Medicare Advantage offerings, however. The company also faces the possibility of market share losses because of greater competition through the health care exchanges.

Humana has taken steps to overcome these hurdles by diversifying. The objective is to capitalize on inevitable changes to the health care sector as the ACA takes shape. For example, the company's foray into the mini-clinic sector with the Concentra acquisition in 2010 puts Humana in a good position in the long run. As for the extent to which Humana's Medicare Advantage program will take a hit in 2014, investors should pay attention to the next earnings announcement on Feb. 5.

The silver lining
UnitedHealth's "plans and actions" referred to by the insurer's CEO include the health care services unit Optum, where revenue jumped 26% to $37 billion in 2013. The pharmacy services division is also part of Optum's operations where revenue grew by 31%. Optum is also comprised of the Quality Software Services division, the overseer of remedies for the ACA website Healthcare.gov. 

UnitedHealth is also participating in the ACA's health exchange scheme. The company's participation has been limited thus far, however, and the insurer intends to study the development of the exchanges as the year progresses.  Given the spotty roll out of the ACA and enrollment targets coming up short, United Health's cautionary approach is a smart play.

Meanwhile, a competitor like Aetna has a greater stake in the exchanges because the company is participating in more exchanges. If enrollment numbers start to dramatically improve, Aetna will capitalize on subsidies that are part of the ACA package for individuals who cannot afford the premiums. It is unclear at this juncture what the prognosis is for future enrollments, however. Aetna is also facing earnings losses related to its Medicare Advantage plans.

Going forward, UnitedHealth reaffirmed its full-year fiscal 2014 forecast which calls for revenue of $128 billion to $129 billion, showing 5% year-over-year growth. The company also anticipates earnings per share to hold steady this year despite the possible Medicare Advantage losses. 

While the ACA funding cuts to Medicare Advantage will be a drag on UnitedHealth's earnings, the company has actions already in play like the services offered by Optum to offset these losses. Moreover, the company's cozy relationship with the Administration as a fixer of the Healthcare.gov website and the insurer's participation in the health exchanges should give UnitedHealth some leverage as the ACA reforms kick in.

The bottom line
The ACA mandated funding cuts to Medicare Advantage offerings by health insurers will affect earnings in 2014. Moreover, the competition being ushered in by way of the health care exchanges will also influence market share. But the long-term future of the health care reform measure is also uncertain.

Obviously, the ACA rollout has been troubled. It is highly unlikely that the law will be repealed as GOP lawmakers once championed, however. Insurers are working with the government behind the scenes since it is in their mutual best interest to do so.

In the final analysis, UnitedHealth has a long track record of solid growth and currently has more than 83 million subscribers. The insurer should remain a key player in the managed health care industry. With a market cap of about $72 billion, the company can tap into a healthy cash flow to implement other diversification strategies. In short, these factors should position United Health to continue to prosper as health care reforms are implemented.

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Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

It was another bad day on Wall Street as the Dow Jones Industrial Average lost 149 points, or 0.94%, the S&P 500 fell 0.65%, and the Nasdaq declined 0.47%. Those moves came despite the Thomson Reuters/University of Michigan consumer sentiment figure hitting 81.2 for January, which is better than the preliminary monthly reading, at 80.4. But even though the figure rose during the month, it was still below the 82.5 from December.

One big winner within the Dow was Microsoft , as shares rose 2.66%. The move came after reports began to break that the company's search for a new CEO was over. It's believed that Microsoft veteran Satya Nadella would be taking over the top job when current CEO Steve Ballmer hangs up his hat. Shares have been languishing for some time as investors anxiously awaited an announcement of who would take over the job. After Ford's CEO Alan Mulally publicly announced he would not be taking the job, shares fell a few percent, so today's move higher shouldn't really be considered a win, just a move back to even.

On the other side of the coin, shares of Chevron , ExxonMobil , and Visa all helped pull the blue chip index lower today as they fell 4.14%, 1.95%, and 2.47%, respectively. Not only were these three stocks big percentage losers today, but due to their share prices, the three represent 17.48% of the Dow; when they fall, the overall index likely follows, as it did today.

The oil stocks fell after Chevron reported earnings this morning and reported a 32% decline to net earnings after revenue dropped 4% during the quarter when compared to the same time period last year. The drop was the result of lower global fuel prices and a decline in overall production. The company is looking to cut costs by roughly $2 billion in the coming year, but it's future production and profits are not very clear at this time; increased uncertainty means a lower stock price. 

ExxonMobil and Visa were both victims of their industry today. Chevron's poor performance raised concerns from Exxon investors about how it will deal with the future, while Visa's drop came after MasterCard reported earnings that missed on both the top and bottom lines, but more importantly saw a 21% increase on the expense line. A large part of that increase came from litigation expenses and, while this may be an issue only MasterCard is experiencing, it could be something the whole credit card industry will have to deal with in the future. 

Despite the frustratingly slow recovery in the labor market and U.S. economy more broadly, American consumers remain optimistic about their finances. For the most part, they've continued to spend. Consumer sentiment has shown remarkable resilience in recent months, as Americans finally begin to feel better about their finances.

As a result, consumer-discretionary stocks, or those that are reliant on the health of the consumer for profits, stand to prosper. And yet, not all consumer-discretionary stocks are created equal. This is especially true when it comes to restaurants.

There's a striking disparity emerging between fast-food chains such as McDonald's and sit-down restaurants such as DineEquity and Brinker International . While McDonald's is infamously struggling to produce growth in the current economic climate, DineEquity and Brinker are having no such issues.

McDonald's investors are hungry for growth
In McDonald's most recent earnings report, the company showed notable weakness in its key growth metrics. The same-restaurant sales metric, which measures sales only at locations open at least a year, is perhaps the most important financial figure to gauge the way a restaurant stock is performing. By that measure, McDonald's latest report left much to be desired.

McDonald's global same-restaurant sales declined by 0.1% in the fourth quarter and inched up by 0.2% in 2013. McDonald's poor performance stands in contrast to DineEquity and Brinker International. DineEquity, operator of the IHOP and Applebee's brands, delivered a 0.1% same-restaurant sales decline at Applebee's over the first nine months of the fiscal year. This was more than offset by nearly 2% same-restaurant sales growth at IHOP in the same period.

Meanwhile, Brinker International, which operates the Chili's and Maggiano's brands, increased its same-restaurant sales by 0.8% in its fiscal second quarter.

What McDonald's needs to get back on track this year
McDonald's is desperately counting on its aggressive international expansion to make up for its lackluster growth last year. This is where McDonald's may have an advantage over much smaller rivals DineEquity and Brinker International. After all, the U.S. is a very saturated market, and McDonald's status as one of the largest and most valuable brands in the world means it has the size and scale to quickly and effectively break into the emerging markets.

DineEquity does not yet have an established international presence. While Brinker operates in 32 countries across the world, it plans to open just 34 to 39 international restaurants in fiscal 2014.

McDonald's plans to open at least 1,500 new restaurants as well as perform more than 1,000 renovations in the year ahead. McDonald's plans to spend up to $3 billion on this, and investors can bet most of it will be concentrated in the emerging markets. Management cites the company's Asia-Pacific, Middle East, and Africa region as its main target of capital expenditures in 2014.

However, McDonald's aggressive expansion is going to take time to pay off. Management expects January global comparable-store sales to be flat year over year. Meanwhile, DineEquity and Brinker International expect strong near-term performance to continue. For example, DineEquity projects flat same-restaurant sales at Applebee's for the full fiscal year along with solid 2.5% growth at IHOP.

Closing thoughts
While McDonald's retains its status as the largest and most well-known restaurant chain in the world, it's not growing as fast as investors would like. Recently, it's being outperformed by smaller sit-down chains such as DineEquity and Brinker International. Whether or not McDonald's will be successful at re-engineering growth in the future remains to be seen. That depends hugely on its international expansion efforts.

For the time being, investors have viable alternatives to choose from among restaurant stocks. DineEquity and Brinker International are seeing great success in the U.S. and aren't counting on strong international growth to improve their future bottom lines. It may be the case that DineEquity and Brinker International are starting to steal some of McDonald's thunder.

Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

Stocks closed out January with a whimper as the Dow Jones Industrial Average and S&P 500 finished with their worst month in nearly two years. By the time the market closed today, the blue chips were 5.3% lower than they were at the start of the year while the broad-market index was down 3.6%, primarily due to an emerging-market currency scare and the Fed's decision to continue with its bond-buying taper. For the day, the Dow fell 150 points, or 0.9%, while the S&P dropped 0.7%. American stocks were again rattled by emerging-market woes as the Russian ruble and Polish zloty both fell today, and investors seemed to overlook otherwise strong economic reports from home. The University of Michigan said consumer confidence had edged up to 81.2, slightly ahead of expectations, while Chicago PMI also beat projections, hitting 59.6, indicating a robust expansion of manufacturing activity in the Midwest this month.

Two retail giants also released underwhelming reports today, which likely affected the market's perception of the economy's direction.

First, Wal-Mart updated its guidance for the current fiscal year, saying it now expects its fourth-quarter EPS to come in at or slightly below the low end of its previously guided range of $1.60-$1.70, and consequently, for full-year EPS to be at or slightly below $5.11-$5.21. Considering the bloodbath experienced by many retailers during the holiday season, perhaps hitting the low end of guidance isn't such a defeat. Wal-Mart also said comps at U.S. namesake stores and Sam's Clubs would be slightly negative as the company blamed a reduction in the food-stamp program and bad weather for the poor results. Considering nearly 10% of all non-automotive consumer dollars are spent at Wal-Mart, the company is often seen as a bellwether for the economy as a whole. Shares traded down more than 1% this morning, but finished off just 0.1%.

Likewise, Amazon.com , the biggest threat to Wal-Mart, said holiday-season results were short of analyst expectations, falling 11% as a result. Sales grew 20%, to $25.6 billion, while the Street was expecting 22% growth to $26.1 billion, and earnings also missed, coming in at $0.51 against estimates of $0.66. Amazon notoriously downplays quarterly results, but with its tentacles reaching far into industries beyond traditional retail, the company's results also speak meaningfully about consumer spending habits and the economy's trajectory. If both Amazon and Wal-Mart are losing, it's no surprise to see the overall retail industry suffering. In an economy where 70% of GDP is based on consumer spending, those companies need to be succeeding for stocks to move up further.

Even as Dow Chemical  agreed to follow through on one of the recommendations made by activist investor Daniel Loeb following his declaration last week that he had amassed a sizable $1.3 billion stake in the speciality chemicals maker, it couldn't help but tweak him a bit while also rejecting the thrust of his larger proposal to spinoff its petrochemical business.

The specialty chemicals company said it will triple its stock buyback program, which Loeb believed could be a defensible action to take following the separation of the petrochemical unit as an overall plan to enhance shareholder value. It then went further by saying it will raise it's quarterly dividend by 15%, to $0.37 per share, a measure that the hedge fund operator didn't ask for, but no doubt appreciates nonetheless. But when it comes to spinning off the petrochemical business, Dow drew the line in rejecting it, and even scoffed that anyone could even consider the company as a petchem company, because it's already exited more than $10 billion in commodities. 

"We've actually done the divestment of what might have been called a petchem business, the traditional commodity businesses," said CEO Anthony Liveris on Dow's quarterly earnings conference call. And going further, he pointed out the buyback program and dividend hike weren't the result of any outside pressure, but rather was part of a process that the board "has been reviewing on an ongoing basis with particular focus over the last several quarters."

So, there you go, Daniel Loeb. You can't take credit for any of it. And for good measure, Liveris invoked the name of Warren Buffett as backing his decision to continue running the company as he has. In an interview with CNBC, Liveris said the Oracle told him: "Frankly, we think you've been running the company for the investors who will stay versus the investors who will leave. And frankly, keep doing that."

Buffett's Berkshire Hathaway  bought $3 billion of preferred Dow stock in 2009, which it used to acquire Rohm & Haas.

Whether from outside pressure or internal decision making, the specialty chemicals industry is seeing more streamlining going on. DuPont  sold its performance coating unit in 2012 for $4.9 billion and, last year, announced the spinoff of its performance chemicals unit, having received input from another activist investor, Nelson Peltz, who had taken a $1.3 billion stake in the company.

Loeb contends that while separating the commodity and specialty chemicals businesses might increase costs, concentrating on more attractive growth businesses would give Dow  a "valuation uplift from increased business focus and disclosure." Yet, some analysts disagree, believing that specialty chemicals alone no longer carries higher profit margins, and that a mix between them and commodities would serve investors better. 

Dow's own margins have been growing at a sharp, steady clip for several years in a row, and in the latest quarter's results that it reported separately, it said fourth-quarter net income came in at $963 million, a big U-turn from the $716 million loss it recorded a year ago. But margins widened across the board, benefiting from low natural gas prices.

Loeb may not have gotten anything that he wanted, or even credit for it, but he can at least take solace that his big stake in Dow Chemical is now worth a heckuva lot more than when he purchased it.

Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

U.S. stocks posted another day of losses on Friday, capping the worst month for the stock market since May 2012. The benchmark S&P 500 index fell 0.6% on the day, while the narrower Dow Jones Industrial Average lost 0.9%. However, the social networking sector bucked the trend, including social games company Zynga . Shares of Zynga vaulted higher by 23.6% on the news of a major acquisition.

Yesterday afternoon, Zynga announced its fourth-quarter results a week ahead of its scheduled reporting date. The beleaguered social game developer managed to exceed Wall Street's expectations by $0.01, with a $0.03 loss; however, revenue of $176.4 million was shy of the $183.3 million consensus estimate. Furthermore, the company's guidance for the current quarter - a net loss of $0.06 to $0.07 per share on revenue of $155 million to $165 million - also fell short of analysts' estimates at the time of the announcement. Finally, the number of daily active users fell 12% from the previous quarter.

In that (grim) context, I'm forced to conclude that the reason investors bid the stock up today was the concurrent announcement of the largest acquisition in the company's history - that of privately held U.K. mobile game developer NaturalMotion, for $527 million (of which $391 million was in cash). Launched on the iOS in July 2012, NaturalMotion's hit, CSR Racing, was said to be grossing more than $12 million per month, but it was developed by gaming studio Boss Alien, which NaturalMotion acquired in August 2012. NaturalMotion has also had successes with American football game Backbreaker, and the free Clumsy Ninja for iOS.

However, to get an idea of the half-life of these games, compare the $12 million per month figure mentioned above in regard to CSR Racing to the $70 million to $80 million of total bookings Zynga expects NaturalMotion to add to its results for the whole of this year. Furthermore, Zynga is looking for an EBITDA (earnings before interest, taxes, depreciation, and amortization - a crude measure of cash flow) contribution of $15 million to $25 million. Compare that to NaturalMotion's $527 million price tag for NaturalMotion, and you have what looks like a very pricey acquisition.

And speaking of pricey, after the pop in today's shares, Zynga is now valued at nearly six times this year's forecasted revenue. Sure, the company has $1.1 billion of cash on hand ($1.42 per share), but given that analysts don't expect Zynga to be profitable this year or the next, that is but little comfort. Given the price paid, Zynga's ability to recoup its investment in NaturalMotion looks highly uncertain -- and the same is true for Zynga's shares. Today's pop looks like the triumph of hope over experience.

Applying for and getting a mortgage is one of the most daunting obstacles to overcome when shopping for a home. The process can be especially scary and confusing for first timers who may be unfamiliar with the various programs out there, or the advantages and disadvantages of each. Here is a quick rundown of the types of mortgages available, to help decide which may be the best option for your own situation.

Fixed-rate traditional
This is the most common type of mortgage these days, and although it comes in a variety of lengths, they typically run either 15 or 30 years. Generally, banks want a sizable down payment and a good credit score, both of which can make them difficult to get for a first-time buyer. The typical down payment is 20% on one of these loans, but now that lending markets are beginning to loosen a bit, I have seen mortgages advertised with as little as 5% down. 

With a traditional mortgage, the lower your down payment is, the higher credit score the bank will typically want. Every bank is different, but if a FICO score of 680 is required if you put 20% down, a 740 might be expected with just 5% upfront.

Another decision to make is the time frame. A 15-year mortgage carries with it a higher monthly payment, but you'll pay a lot less in interest over the life of the loan. For example, a $200,000 loan at 4.5% would have monthly payments of $1,410 and $1,013 for 15- and 30-year terms, respectively. However, over the life of the loan, the 15-year option would save you more than $110,000 in interest.

Adjustable rate
Similar to fixed rate in terms of qualifications, adjustable-rate loans can be a good choice in certain economic climates. Basically, it means that your interest rate will change over time, and will be tied to an index that reflects how much it costs the lender to borrow money. This can be beneficial when rates are at cyclical highs, but that is certainly not the case now. If you can lock in a low rate for the life of the loan, why take the chance with an uncertain interest rate?

Even though rates shot up in the latter half of 2013, they are still relatively low on a historical basis. Consider the highs and lows in the following chart for a better idea of when an adjustable-rate mortgage might be a good idea. I would say that once the average 30-year rate moves close to 6% (maybe a few years down the road), adjustable-rate mortgages may be worth a look.

U.S. 30 Year Mortgage Rate data by YCharts

FHA
The Federal Housing Administration's lending standards are designed to allow buyers who either don't have a lot of cash to put down, or don't have a high enough credit score to be able to buy a home. This makes FHA loans very popular among first-time buyers. As of this writing, the FHA requires just 3.5% down and a FICO score of 580, or even lower if the down payment is higher (although specific lenders may have slightly higher requirements).  This flexibility does not come cheap, and there are several costs to be aware of before applying for an FHA mortgage.

The FHA charges a 1.75% upfront fee when issuing a loan, in addition to requiring borrowers to pay FHA mortgage insurance as long as they have the loan. This is charged at an annual rate of 1.35% of the average loan balance. 

So, on our $200,000 example, this means an upfront fee of $3,500 plus a mortgage insurance payment of $225. This adds more than 20% to the monthly principal and interest payment, a significant expense.

USDA
The U.S. Department of Agriculture guarantees mortgages offered to buyers of homes in rural areas. Just like FHA loans, they have relatively easy qualifications when compared with traditional loans, and offer up to 100% financing. However, you must purchase in a rural area as defined by the USDA, and be under the maximum income requirement for the particular county you're interested in.

VA
If you or your spouse ever served in the armed forces, a VA loan could be a very attractive option for you. VA loans are available with no down payment whatsoever, and have similar credit requirements as FHA loans. Unlike FHA loans, they require no mortgage insurance, making them a very attractive option to those who qualify.

Foolish final thoughts
If you can afford the down payment and have the credit necessary to obtain a good interest rate, it almost always makes more sense to get a traditional mortgage. 

However, the FHA has been increasing its fees and lending standards for a few years now, and we are already seeing 5% down payment traditional mortgages designed to compete with the FHA. As the economy improves and credit loosens a bit more, we'll begin to see a shift away from FHA loans, which seems to be the government's goal. In the meantime, if it's all you can qualify for, an FHA loan still may be cheaper than paying rent.