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Stocks head for third day of declines
CNN Money ^ | November 9, 2012

Posted on 11/09/2012 4:57:31 AM PST by rightwingintelligentsia

NEW YORK (CNNMoney) -- 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.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS: obamanomics; obamasized; obamasizing; ownit; stockmarket; stocks
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1 posted on 11/09/2012 4:57:36 AM PST by rightwingintelligentsia
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To: rightwingintelligentsia

cnn should be enjoying this since they helped elect obama


2 posted on 11/09/2012 4:58:24 AM PST by dalebert
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To: rightwingintelligentsia

Just the beginning


3 posted on 11/09/2012 4:59:06 AM PST by scooby321 (AMS)
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To: rightwingintelligentsia

Some evil part of me is enjoying this ...uggg :(


4 posted on 11/09/2012 5:04:46 AM PST by Michigander222
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To: rightwingintelligentsia

Cool. Kiss the 401K goodbye, also no hope of retirement in our future.

Obamanomics at work here!


5 posted on 11/09/2012 5:05:10 AM PST by Mrs. P (Figures can lie, and liars can figure.)
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To: rightwingintelligentsia

CNBC, Bloomberg, CNN all look at the market charts that show a disastrous plunge beginning the morning after the election, and they blame the “fiscal cliff”! This president will never be blamed for anything. They will blame the Republican Congress instead.

By the way, on Bloomberg, there was an interview with the French premier. He and the new Socialist government in France are elated that Obama won, of course, and are counting on the USA to pull Europe out of its mess. So before you turn loose of a dollar, weigh the prospects of it not only helping Obama, but the French Socialists as well.


6 posted on 11/09/2012 5:07:31 AM PST by txrefugee
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To: rightwingintelligentsia

It’s almost as if something happened 3 days ago that threatens the entire economy! What could that be?


7 posted on 11/09/2012 5:08:38 AM PST by backwoods-engineer ("Remember: Evil exists because good men don't kill the gov officials committing it." -- K. Hoffmann)
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To: rightwingintelligentsia
Stocks head for third day of declines ... and coincidentally, precious metals head for third day of increases.
8 posted on 11/09/2012 5:09:01 AM PST by Zakeet (Calling the Obozo/Bernack economy sluggish is an insult to slugs)
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To: dalebert

I wonder how long before they close comments. They are not CNN friendly...


9 posted on 11/09/2012 5:10:00 AM PST by 5thGenTexan
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To: Mrs. P

I hope those O voters who have a 401 K understand that elections do have
consequences.

SS won’t cut it for the majority of those who aren’t in poverty already, so
having a tanked 401 is the clearest sign that he wants a dependent society
and them included.

The rest of us will figure out how to diversify, did it already, and survive beyond
this fool and his flying monkey followers


10 posted on 11/09/2012 5:10:15 AM PST by patriotspride
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To: rightwingintelligentsia

I got up about 20 minutes ago and futures were down about 52. It’s 97 now. Gonna be another fun ride today.


11 posted on 11/09/2012 5:11:26 AM PST by mykroar (RIP America :: 11/6/12)
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To: rightwingintelligentsia
But..But...But, he won a second term and has a mandate! Why aren't the markets responding favorably to this great news? /sarc.

While i know it's going to effect everybody, I hope those who voted for him a second time have a special type of suffering under his policies. At least we know what's coming and are trying to prepare. These idiots who voted for him think bliss is coming their way. I'd love to see their faces when they receive their paychecks in January! :-}

12 posted on 11/09/2012 5:13:03 AM PST by Artcore
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To: rightwingintelligentsia

barack hussein obama... mmmmmm... mmmmmm... mmmmmm.

LLS


13 posted on 11/09/2012 5:16:18 AM PST by LibLieSlayer (I AM JOHN GALT)
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To: Mrs. P

Just the opposite... no jobs... all will be retired.

LLS


14 posted on 11/09/2012 5:18:15 AM PST by LibLieSlayer (I AM JOHN GALT)
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To: patriotspride

Even if they have a 401K, the losses will be blamed on Bush, “rich people”, conservatives, and corporations.

In other words, they will come after us first.


15 posted on 11/09/2012 5:21:35 AM PST by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: rightwingintelligentsia

There will be no complaining, comrades. There will be much cheering. As such, begin cheering now upon the great victory for the proletariat against the running dogs of evil capitalist bougeousie.. that’s an order.


16 posted on 11/09/2012 5:21:40 AM PST by ScottinVA (I've never been more disgusted with American voters.)
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To: Mrs. P

I will take yours any day. I got wiped out in 2008. Been living off of fumes for 4 years and now all I have is Lucent and they just took a massive hit.

Woohoo!!!!!


17 posted on 11/09/2012 5:22:12 AM PST by EQAndyBuzz (Media goes nuts in 2004 because Bush went to the dentist 20 years ago. Benghazi? Nothing.)
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To: rightwingintelligentsia

This was very predictable, and someone is making a ton of money off it.

The small business atmosphere that Obama has created is ruining small business’s and small business’s create money for largers ones.Therefore th larger business’s are hurting too.

Yesterday I was reading post after post of people laying off workers. Don’t know why they waited until after the elections.

Still finding it hard to believe that blacks are suffering from 25% unemployment and voted for an even higher percentage when hey voted for Obama.

Stupid is as stupid does.


18 posted on 11/09/2012 5:22:48 AM PST by Venturer
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To: Zakeet

Yeah baby!


19 posted on 11/09/2012 5:25:28 AM PST by gotribe (He's a mack-daddy http://www.youtube.com/watch?v=AV415yit7Zg)
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To: All

This looks like a great web site - posts all the business layoff’s, bankruptcies, and closings for the DAY!.

Looks like it’s building the past 3 days.

http://www.dailyjobcuts.com/


20 posted on 11/09/2012 5:26:36 AM PST by CharlotteVRWC
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