That was ugly. The bulls did not have a good week as the bears got the best of them as the major indexes took an average loss of 4%. The was headline news from quite a few of the bigger names that weighed on the market and a nasty unemploymentRead more
Weekly Wrap for 1/11/09
Everybody's Working For The Weekend
Merger Activity Off To Fresh Start
Market Turns Around/ AutoZone Update
AutoZone (AZO, $135.42, up $0.42) traded lower most of the session until a late day rally pushed the stock into positive territory. With the Dow tanking 200 points to start the morning, AutoZone followed suit after a higher opening. Today got ugly after Wal-Mart (WMT, $51.38, down $4.16) warned andRead more
Wal-Mart Gets Whacked
Wal-Mart (WMT, $51.52, down $4.02) is feeling the blues this morning as Wall Street is punishing the stock after the company cut its fourth quarter earnings forecast. The company now expects earnings of $0.91-$0.94 a share, versus a prior forecast of $1.03-$1.07 a share. Wal-Mart blamed bad weather and lowerRead more
AutoZone Topping Out
Family Dollar Catches Fire
Family Dollar Stores (FDO, $27.73, up $3.40) is having an outstanding day after announcing earnings that were better-than-expected. The company also raised its second-quarter outlook after posting higher December sales. Quarterly sales rose 4% to $1.8 billion while comparable-store sales climbed 2%. For the quarter, the company earned $59 million,Read more
Opening View
The market is starting off the session with a triple-digit loss. The Dow is down 109 points to 8905 after a worse-than-expected ADP employment report. The futures were pointing toward a slightly higher start but that early morning sentiment was dashed once the news hit Wall Street. The report whichRead more
Imax Shares Rising
Orexigen Therapeutics Up Sharply After-Hours
Orexigen Therapeutics (OREX, $5.89, down $0.10) was up sharply in after-hours trading on news that the company could be announcing something concerning its treatment drug for obesity, Contrave. The company will presenting at a JPMorgan (JPM, $29.25, down $2.10) conference next week which means the rumor mill got started earlyRead more