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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

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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To: rightwingintelligentsia

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.


21 posted on 11/09/2012 5:27:38 AM PST by Howdyneighbor
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To: txrefugee
they blame the “fiscal cliff”!

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.

22 posted on 11/09/2012 5:28:32 AM PST by AndyJackson
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To: rightwingintelligentsia; mickie
Any crash or near crash of our stock market will be blamed on the financial crisises in various European nations.

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

23 posted on 11/09/2012 5:31:58 AM PST by MinuteGal
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To: rightwingintelligentsia

CNN is concerned, upset, surprised after helping elect the turd?! Romneys fault?


24 posted on 11/09/2012 5:33:30 AM PST by albie
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To: Howdyneighbor

Bump.


25 posted on 11/09/2012 5:33:36 AM PST by Morris70
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To: rightwingintelligentsia

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.


26 posted on 11/09/2012 5:34:16 AM PST by swamprebel (a Constitution once changed from Freedom, can never be restored.)
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To: rightwingintelligentsia

I believe we are going to see what would have happened to the U.S. if Jimmy Carter was reelected.


27 posted on 11/09/2012 5:49:02 AM PST by mulder1 ("The past is prologue.")
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To: swamprebel

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.


28 posted on 11/09/2012 5:52:33 AM PST by Oldexpat
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To: patriotspride

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.


29 posted on 11/09/2012 5:54:18 AM PST by gotribe (He's a mack-daddy http://www.youtube.com/watch?v=AV415yit7Zg)
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To: rightwingintelligentsia

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?


30 posted on 11/09/2012 5:59:03 AM PST by CGASMIA68
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To: Oldexpat

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.


31 posted on 11/09/2012 6:01:45 AM PST by swamprebel (a Constitution once changed from Freedom, can never be restored.)
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To: rightwingintelligentsia

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.


32 posted on 11/09/2012 6:03:29 AM PST by sergeantdave (The FBI has declared war on the Marine Corps)
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To: txrefugee
This president will never be blamed for anything. They will blame the Republican Congress instead.

I'm afraid that is absolutely the case. If the exit polls show the public still blaming Bush after 4 years, then Obama is going to get away with blaming him forever.


33 posted on 11/09/2012 6:16:54 AM PST by Buckeye McFrog
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To: rightwingintelligentsia

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.


34 posted on 11/09/2012 7:32:41 AM PST by Ruy Dias de Bivar (The parasites now outnumber the producers.)
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To: rightwingintelligentsia
"J.C. Penney (JCP, Fortune 500) reported a much bigger than expected loss"

Schadenfreude.

35 posted on 11/09/2012 8:05:32 AM PST by StAnDeliver (Own It.)
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To: rightwingintelligentsia

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


36 posted on 11/09/2012 10:08:16 AM PST by Wuli
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