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11/9/12, “Stocks head for third day of declines,” CNN
“U.S. stock futures were lower Friday, as disappointing corporate results weighed on sentiment, setting the market up for a third straight day of declines.
J.C. Penney (JCP, Fortune 500) reported a much bigger than expected loss, sending
its shares tumbling more than 8% in premarket trading. The company lost
93 cents a share excluding special items, while analysts surveyed by
Thomson Reuters were forecasting a loss of only 7 cents. Sales also fell
short of forecasts. It marked the third straight quarter of bigger than forecast losses at J.C. Penney as new CEO Ron Johnson struggles to remake the company.
After the closing bell Thursday, Disney (DIS, Fortune 500) reported earnings in line with analyst expectations but sales of the
entertainment company were a bit short of forecasts. Shares of the Dow
component were down 3% in premarket trading.
Shares of daily deals site Groupon (GRPN) plunged 15% in premarket trading Friday, a day after quarterly results missed expectations….
Fear & Greed Index
In economic news, the Bureau of Labor Statistics will release
figures on import and export prices at 8:30 a.m. ET, while reports on
consumer sentiment and wholesale inventories are due later in the
morning.”…via Free Republic
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Ed. note: If productive people went on strike, stopped earning money to be taxed, the government would run out of money to hand out to cronies and the democrat voting base.
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