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 ...
This country needs to take its medicine, and it will be a bitter pill to swallow, but it is the only cure for the infection of the left.
Stocks have been inflated on Bernanke's quantitative easing for a long time. He bought this election for Obama, and now you get to try to sell what he bought.
In fact, it's being done already.
In short, the con artists in the administration and in the media are so good that they can blame "Europe" for this downturn that "just happened" to commence the morning after Obama's win.....and get away with it.
Leni
CNN is concerned, upset, surprised after helping elect the turd?! Romneys fault?
Bump.
It’s an economic recovery, Jobless numbers are improving, see, 7.9% and we’ll simply keep adjusting the formula for calculating these things as needed, so it stay’s that way.
I believe we are going to see what would have happened to the U.S. if Jimmy Carter was reelected.
There was no reason to hang on to stocks and mutual funds in your 401k..you always sell stock before a Presidential election in a Banana Republic. Now there is even more of a reason to sell your stocks outside your 401k since capital gains will be going up.
If Obama follows Krugmans advice stocks will go even lower.
Have you ever looked at aggregate 401k investments for your company? If it’s anything like mine, my co-workers don’t know the first thing about diversification and investing. They are so stupid, they’ll never make the connection between going broke and obama.
Ive been in cash (cd’s etc) for 4/4.5 years,been waiting for this time to rebuild my conservative diversified portfolio that I abandoned in 08.
Right now only 24.9% is invested with 25 % of that 24% in equities(indexed stocks) .
I feel the next 30 to 90 days is the time to jump back in.
Will see?
Thank you for the sage words, I went on the sidelines back in September, I’m buying stuff on sale these days, but sadly despite my advice, many of my clients did not follow my example.
The criminal banks have created a Frankenstein monster, and they’ll do everything they can to keep it alive. Just last week the Barclays libor trial started in the UK, and they’re talking about many civil suits to follow. Civil suits? Why aren’t these thieves facing life in prison? Hell, they should be hanged from lampposts.
Christmas this year will be nice since less people will have jobs to spend on it and will be belt tightning. Maybe Santa Obama will give the people stuff they want.
Schadenfreude.
Bernanke must have seen this early CNN report, and printed some more money and threw it into U.S., markets; DJIA up 60 some points, NASDAQ up 30 some points and S&P up 11 points a few minustes ago;
however, early day buyers (”gee, this stock looks like a buy”) sometimes are just creating conditions that entice even more sellers (”gee, these stocks are too high, better sell now”) later in the day
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