Walmart: Let’s Get Small
At its analysts meeting today, Wal-Mart Stores Inc. (NYSE: WMT) talked up its expansion into smaller stores, particularly its Neighborhood Market stores. Sales at the more than 200 Neighborhood Market locations were up 5%…
All Work
Paul Ausick
Colder Winter Forecast Means Higher Heating Bills
The U.S. Energy Information Administration (EIA) today released its forecast for U.S. heating requirements for the coming winter and the news will hit consumers right in the wallet. The agency expects heating demand to…
Wells Fargo Finances Solar Farm
SunEdison LLC, a subsidiary of MEMC Electronic Materials Inc. (NYSE: WFR), will get financing for an 11.3-megawatt solar project from Wells Fargo & Co. (NYSE: WFC). The amount of the financing was not specified.…
Labor Walkouts Hit Walmart
In labor actions that union leaders called the first ever strike against Wal-Mart Stores Inc. (NYSE: WMT) and that company officials called a “publicity stunt,” employees at 28 of the company’s stores in 12…
OCZ Tech Lowers Revenue Outlook, Will File Late
Solid-state drive maker OCZ Technology Group Inc. (NASDAQ: OCZ) announced this morning that it will file its 10-Q for the second quarter ended August 31 by October 15. But wait, there’s more: The Company’s…
China No Longer the Promised Land for U.S. Businesses
When China’s economy was growing at double-digit rates (was it only a couple of years ago?), the Middle Kingdom became an investment target for U.S. firms looking for growth. That enthusiasm is starting to…
EADS-BAE Merger on Life Support
With just a couple of hours left to reach a deal or ask for an extension, the proposed merger between defense contractor BAE Systems plc and European Aeronautic Defense and Space Co. (EADS), the…
Helen of Troy Not So Beautiful Today
Helen of Troy Ltd. (NASDAQ: HELE) reported second-quarter 2013 diluted earnings per share (EPS) of $0.72 on net sales of $287.41 million. In the same period a year ago, the consumer products company reported…
Mortgage Applications Declined Slightly Last Week
The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning, noting a drop of 1.2% in the group’s seasonally adjusted composite index compared with last week’s increase of 16.6%. Applications…
Costco Earnings Solid, Not Thrilling
Costco Wholesale Corp. (NASDAQ: COST) reported fiscal fourth-quarter adjusted diluted earnings per share (EPS) of $1.39 on net sales of $31.52 billion. In the same period a year ago, the warehouse store company reported…
Yum! Rides High on China
Yum! Brands Inc. (NYSE: YUM) reported fiscal third quarter adjusted earnings per share (EPS) of $0.99 on revenue of $3.57 billion. In the same period a year ago, the operator of KFC, Pizza Hut,…
24/7 Wall St. Closing Bell — October 9, 2012: Markets Slide Continues as Earnings Season Kicks Off (AAPL, JNJ, LAZ, NFLX, RSH, AA, YUM, COST, HELE, HST, VRNG, GOOG, ANR, BSDM, EW)
The three major U.S. stock indexes opened lower this morning following a lowered forecast on global economic growth from the International Monetary Fund (more coverage here). In Asia, Japanese markets are concerned over earnings…
U.S. Leads Globe in Exports — Of Wood Pellets
The U.S. has just overtaken Canada as the world’s largest exporter of wood pellets. According to the North American Wood Fiber Review, U.S. exports of wood pellets in the first half of 2012 totaled…
Jack Welch Quits Fortune Magazine Gig
After last Friday’s nonfarm payroll report was released, Jack Welch, former CEO of General Electric Co. (NYSE: GE), tweeted that the Obama administration had juggled the numbers in an effort to make the U.S.…
Three-Year Treasury Notes Near Record Low Yields
The U.S. Treasury today auctioned $32 billion in 3-year notes at a yield of 0.346%, slightly higher than last month’s auction but still near record lows. The bid-to-cover ratio reached 3.96, well above the…
Shadow Inventory of Homes Continues to Slide
In July of this year, the shadow inventory of U.S. homes declined by 10.2% to 2.3 million units, from 2.6 million units in July 2011. Shadow inventory refers to the number of properties that…
Chevron Loses Supreme Court Appeal of $18.2 Billion Ecuadoran Judgment
courtesy of Chevron Corp.The U.S. Supreme Court today denied an appeal from Chevron Corp. (NYSE: CVX) to block an $18.2 billion judgment against the company as a result of a pollution case in Ecuador.…
Everywhere You Look, Intel’s Got Trouble
Shares of Intel Corp. (NASDAQ: INTC) hit a new 52-week low this morning after the stock was downgraded yet again and the target price was lowered. The overall weakness in the market for desktop…
Alcoa and the Sum of its Parts
Here we go again. We’d all feel cheated if a year were to pass without chatter about the possibility of a takeover of Alcoa Inc. (NYSE: AA). In 2007, BHP Billiton plc (NYSE: BHP)…
Fiat Not Interested in GM’s Opel Unit
The CEO of Italy’s Fiat SpA, Sergio Marchionne, said earlier today that his company was going to scrap its five-year plan running through 2014, calling it “nonsense because the market won’t be there.” Now…