The proposed settlement failed and now American Airlines has taken legal action against Google (Symbol: GOOG). The lawsuit is based on Google’s sponsored ads.

According to AA, when a search term that’s trademarked by American Airlines is entered into Google, rivals of American Airlines are also shown in the “sponsored links” section.

A Reuters article today said Google feels like it is on solid ground.

The stock market is fierce right now. Many on Wall Street are talking about how they’ve never seen a ride like this. Even the pros are having a tough time. But, is there money to be made?

I’ve been following Hovnanian Enterprises (Symbol: HOV) for some time and it’s been a trading bonanza of late. Just today, the stock dropped to $10.83 and then rose to a close of $12.57.

In after-hours trading, HOV dropped 7% to $11.68. Tomorrow could be another good day to trade this stock.

It’s an interesting battle that’s been heating up—Netflix (Symbol: NFLX) vs. Blockbuster (Symbol: BBI).

Blockbuster was the new kid on the block. Netflix was the Internet-savvy rental service that’s been growing like mad since 1999.

If you’ve seen the commercials, you know that Blockbuster is playing up their brick and mortar stores as an advantage over Netflix. And it appears to be working.

Recently, Netflix announced that it lost subscribers—55,000. More significant than the lost subscribers is the fact that this is the first time Netflix has announced a decline in subscribers—proof that Blockbuster is affecting them.

As a way to fight back, Netflix touted that, unlike Blockbuster, it offered movies you could watch instantly online. That all changed today.

Revlon (Symbol: REV) reported a second-quarter loss of $11.3 million, or two cents per share, Wednesday.

President and Chief Executive David Kennedy cited multiple reasons for the smaller than expected loss.

Sales growth, benefits from restructuring actions started last year, and cost control shaped second-quarter performance, Kennedy said.

Revlon surged upward on the news. Shares roses 12.5% and closed at $1.17 on Wednesday.

Reader Question:

Six Flags (Symbol: SIX) had been hammered in 2007. Has everyone jumped ship or is there more downside?

Financial Rebel Answer:

First, it’s foolish to look for a bottom. The bottom is $0. Instead, look for a stock that has bottomed and is recovering.

As to Six Flags, I’ve been following this stock for quite some time and I’ve made money with it. Back when “the accident” occurred, I knew it was time to get out. Since that point, the stock has been down.

It’s a play on the buzz of the future—clean tech—more specifically, solar power. But, how far away from viable solar power are we really? Probably further than you think.

First Solar (Symbol: FSLR) is a classic example of what Wall Street mojo can do. In late May 2007, First Solar started its amazing bull run to $120. But why?

The stock is traded on unbelievable buzz—and momentum works both ways. Recently, First Solar announced earnings of $0.58 cents per share, which shows incredible improvement over last year’s $0.05 cents per share loss. Or does it?

Subprime is threatening to take every stock in its path down. It’s August. The financial media outlets can’t figure out what the market will do tomorrow. Rumors and weather pattern changes are causing stocks to plummet and turn on a dime. That can mean only one thing. It’s a great time to trade.

Call me crazy, insane, out to lunch or perhaps brilliant, but I love this market. It’s better than finding out that you’re the next contestant on the Price is Right. Come on down.

Traders love volatility and this market is serving it up like a grocery store with an overstuffed freezer full of meat that’s about to go bad.